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.., • ., ;9.'I Dutv to Reoort Defects.' Owners or Occupants shall promptly report t the • Associ tion any deiect or need for repair to those parts of the Property which the Associat on is obligat d to maintain. � I9.8 Damaae Caused by Owner_ Notwithstanding any provision to the contrary i this Decla tion, if, in the judgment of the Association, the need for maintenance of any part f the Pr�pe y is caused by the willfu!or negligent a�t or omission af an Owner or Occupant,the uest or invi ee of an Owner or Oc�upant, or by a condition in or on the Property which the 4w er or the Oc upant has wil)fuiiy or negligently allowerl to exist, the Association may cause such damag or condition to be repaired or corrected (and enter upon any Unit and Limited Co on Eleme t to do so). The cost of the repair or correction may be assessed against the Unit f the Owner responsible for the damage, and shall be a personal obligation of the Owner and lien againsri that Owner's Unit. SECTION ld ' � 1NSURANCE 10.1 Reguired Coveraee. The Association shail obtain and maintain, at a mini um, one or more than one master pokicy of insurance in accordance with the insurance require ents set fo in the Act and the additional requirements set forth herein issued by one or mor than one re utable insurance company authorized to do business in the state of Minnesota,as fol ows: i0.1.1 Property insurance in broad form covering all risks of physical loss in an � �arnount equal to one hundred percent�of the insurable"replacement cost",of the Pro erty, exclusive of (i}deductibles; and (ii) land, footings,excavation and other items nor ally excluded from coverage (but including all building service equipment and machi ery). � The Association, at its soie discretion, may or may not insure the follawing 'tems: ceiling and wall finishing rnaterials, tToor coverings, cabinetry, finished mi11 ork, electrical or plumbing fixtures serving a single Unit, built-in appliances, improve ents and betterments regardless of when instal]ed, and any items referred to in S ction ' S 15B3-113(b)(i) through (vii) of the Act, but must do so if required by the F deral ' Nationat Mortgage Association ("FNMA"), the Federal Home Loan Mo gage Corporation ("FHLMC"), the Federal Housing Administration ("FHA"), vr the sec etary � of Veteran's Affairs ("VA"). The policy or policies shall cover personal property wned by the Association. The policy or policies shall afso cantain "lnflation Guard' and "Agreed Amount" endorsements, if reasonably available. Such policy or policies shall include sach addiciona! endorsements, coverages and limits with respect to the fore oing and other hazards as may be required from time to time by the regulations of the HA, VA, FNMA or FHLMC as a precondition to their insuring, purchasing or finan ing a ,mortgage on a Unit. The Board may also, on behalf of the Association, enter into bi ding written agreements with a mortgagee, insurer or servicer, including without limitati n the FHA, VA, FNMA or FHLMC, obligating the Association to keep certain spe ified coverages or endorsements in effect. 10.1.2 Commercial general liability insurance covering the use, operatio , and maintenance of the Comjnon Elements, with minimum limits of one million dolla per MPLS-W rd 95281.11 24 i