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.. . . I 9.7 Dutv to Report Defects. Owners or Occupants shall promptly report to the . Associat�on any defect or need for repair to those parts of the Property which ihe Associati is obligated to maintain. � 9.$ Damaee Caused bv Owner. Notwithstanding any provision to the contrary in this Declaration, if, in the judgmerit of the Association, the need for maintenance of any part o the � Property is caused by the wiilfii4 or negligent a�t or omission of a.�Owner or Occupant,the g est or invitee of an Owner or Occupant, or by a condition in or on the Propeny which the Owne or the Occupant has willfully or negligently allowed to exist, the Association may cause s ch damage ar condition to be repaired or corrected (and enter upon any Unit and Limited Co on Element 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 ien against that Owner's Unit. SECTION 10 INSURANCE I l Q.1 Required Coverase. The Association shail obtain and maintain, at a minim m, one or mpre than one master policy of insurance in accordance with the insurance requirem nts set forth n the Act and the additional requirements set forth herein issued by one or more t an one reput ble insurance company authorized to do business in the state of Minnesota,as follo s: ' i 0.1.1 Property insurance in broad form covering all risks �f physical loss in'an arnount equal to one hundred percent�of the insurable"rep]acement cost".of the Prope y, exclusive of {i)deductibles; and (ii) land, footings, excavation and other items norm lly . excluded from coverage (bui including all building service equipment and machine ). • The Association, at its sole discretion, may or may not insure the follawing ite s: � ceiling and wall finishing materials, floor coverings, cabinetry, finished mi11w rk, electrical or plumbing fixtures serving a single Unit, built-in appliances, impr.ovem ts and betterments regardless of when installed, and any items referred to in Sect on ' SISB3-113(b)(i) through (vii) of the Act, but must do so if required by the Fed ral ! Nationat Mortgage Association ("FNMA"), the Federal Home Loan Mortg ge C rporation ("FHLMC"), the Federal Housing Administration ("FHA"), or the secret ry � o Veteran's Affairs{"VA"). The policy or po]i�ies shall cover personal property o ed b the Association. The policy or policies shall afso contain "inflation Guard" nd " greed Amount" endorsements, if reasonably available. Such policy or policies s all in�lude snch additional endorsements, coverages and limits with respect to the forego ng and other hazards as may be required from time to time by the regulations of the F A, VA, FNMA or FHLMC as a grecondition to their insurir�g, purchasing or financin a mortgage on a Unit. The Board may also, on behalf of the Association, enter into bind g w tten agreements with a mortgagee, insurer or servicer, including without limitation he F�A, 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, a d maintenance of the Comrnon Elements, with minimum limits of one million dollars er MPLS-Word 93281.11 24 i I ;