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.,, . 9.7 Dutv to Re�ort Defects. Owners or Occupants shall promptly report to the � Association any defect or need for repair to those parts of the Property which the Association is obligated to maintain. � 9.8 Dama�e Caused bv Owner_ Notwithstanding any provision to the contrary in this Declaration, if, in the judgment of the Association, the need for maintenance of any part of the Pr�perty is caused by the willfu!or negliger.t act or omission of an Ownet or Qccupaa�t,the�uest or invitee of an Owner or Occupant, or by a condition in or on the Property which the Owner or the Occupant has willfuliy or negligently allowed to exist, the Association may cause such � damage or condition to be repaired or corrected (and enter upon any Unit and Limited Common Eiement to do so). The cost of the repair or correction may be assessed against the Unit of the Owner responsible for the damage, and shall be a personal obligation of the Owner and a lien against that Owner's Unit. SECTION 10 1NSURANCE 10.1 ReQuired CoveraQe. The Association shaU obtain and maintain, at a minimum, one or more than one master policy of insurance in accordance with the insurance requirements set forth in the Act and the additional requirements se# forth herein issued by one or more than one reputable insurance company authorized to do husiness in the state of Minnesota,as follows: i0.1.1 Property insurance in broad form covering all risks of physical loss in an amount ec�ual to one hundred percent.of the insurable"replacement cost",of the Property, exclusive of (i}deductibles;and (ii) land, footings, excavation and other items normally excluded from coverage (but including all building service equipment and machinery): • � The Associatiori, aY its sole discretion, may or may not insure the following items: ceiling and wall finishing materials, floor coverings, cabinetry, finished millwork, electrical or plumbing fixtures serving a single Unit, built-in appliances, impr.ovements and betterments re�ardless of when instal]ed, and any items referred to in Section ' 515B3-113(b)(i) through (vii) of the Act, but must do so if required by the Federa�„ .. ' National Mortgage Association ("FNMA"), the Federal Home Loan Mortgage Corporation ("FHLMC"), the Federal Housing Administration ("FHA"), or the secretary � of Veteran's Affairs {"VA"j. The policy or policies shall cover personal property owned by the Association. The policy or poiicies shall also contain "Inflation Guard" and "Agreed Amount" endorsements, if reasonably availabie. Such golicy or policies shall include such additionai endorsements, coverages and limits with respect to the foregoing and other hazards as may be required from time to time by the regulations of the FHA, VA, FNMA or FHLMC as a preconditian to their insuring, purchasing or financing a mortgage on a Unii. The Board may also, on behalf of the Association, enter into binding written agreements with a mortgagee, insurer or servicer, including without limitation fhe FHA, VA, FNMA or FHLMC, obligating the Association to keep certain speci�ed coverages or endorsements in effect. 10.1.2 Commercia! general liability insurance covering the use, operation, and � maintenance of the Cominon Elements, with minimum limits of one million dollars per MPLS-Word 95281.11 24 ,