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.., • . � 9.7 Dutv to Report Defects. Owners or Occupants shall promptly report t the • Association any defect or need For repair to those parts af the Property which the Associat on is obligated to maintain. 9.8 Dama�e Caused bv Owner. Notwithstanding any provision to the contrary ' this Declar�tion, if, in the judgment of the Association, the need for maintenance of any part f the Properny:s�aused by th�willful or negligent act or omission of an Ownet or Occ�apant,the guest or invi;tee of an Owner or Occupant, or by a condition in or on the Property which the Ow er or the O�cupant has wi)lfully or negligently allowed to exist, the Assaciation may caus such damage or condition to be repaired or corrected (and enter upon any Unit and Limited Co on Elemerit to do so). The cost of the repair or correction may be assessed against the Unit of the Owner responsible for the damage, and shali be a personal obligation of the Owner and a Iien again�t that Owner's Unit. ; I � SECTtON 10 I 1NSURANCE � ' � 10_l Required Coveraee. The Association shail obtain and maintain, at a mi imum, one ox more than one master policy of insurance in accordance with the insurance requir ments set farth in the Act and the additional requirements set forth herein issued by one or mo e than one reputable insurance company authorized ta do business in the state of Minnesota,as f llows: 10.1.1 Property insurance in broad form covering all risks of physical lo s in an , amount equal to one hundred percent-of the insurable"replacement cost",of the P operty, exclusive of (i}deductibles; and (ii) land, footings, excavation and other items n rmally excluded from coverage {but including all building service equipment and mac inery). • ; The Associatiori, at its soie discretion, may or may not insure the foliowin items: � ceiling and wall finishing materials, floor coverings, cabinetry, finished m llwork, . . electrical or plumbing fixtures serving a single Unit, built-in appliances, impro ements and betterments regardless of when installed, and any items referred to in Section ' S15B.3-113(b)(i) through (vii) of the Act, but must do so if required by the Federal ' National Mortgage Association ("FNMA"), the Federal Home Loan ortgage Corporation ("FHLMC"), the Federal Housing Administration ("FHA"), or the s cretary � of Veteran's Affairs ("VA"). The policy or policies shall cover personal propert owned ; by the Association. The policy or policies shall also contain "lnflation Gu d" and "Agreed Amount" endorsements, if reasonably_available. Such policy or polic es shall include such additional endorsements, coverages and limits with respect to the f regoing and other hazards as may be required from time to time by the regulations of t e FHA, VA, FNMA or FHLMC as a precondition to their insuring, purchasing or fin ncing a ' mortgage on a Unit. The Board may also,on behalf of the Association, enter int binding written agreements with a mortgagee, insurer or servicer, including without limit tian the FHA, VA, FNMA or FHLMC, obligating the Association to keep certain pecified , coverages or endorsements in effect. ; 10.1.2 Commercia! genera! liability insuranee covering the use, opera ion, and mainienance of the Cominon Elements, with minimum limits of one million d llars per MPL�S-Word 95281.I 1 24 , �