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9.7 DutY to Reoort Defects. Owners ar Occupants shail 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 DamaQe Caused by Owner. Notwithstanding any prvvision to the contrary in this Declaration, if, in the judgment of the Association, the need for maintenance of any part of the Pr�perty:s ca�:se�by th�willful ar neglige.^.t a�t or omission af ar.Owner or Qcc�sQant,Lhe guest or invitee of an Owner or Occupant, or by a condition in or on the Property which the Owner or the Occupant has wi]lfuiiy or negligently allowerl to exist, the Association may cause such ' damage or condition to be repaired or corrected (and enter upon any Unit and Limited Common 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 obiigation of the Owner and a iien against that Owner's Unit. SECTtON 10 1NSURANCE 10.1 Required CoveraQe. The Association shall 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 requirernents set for[h herein issued by one or more than one reputable insurance c�mpany authorized to do business in the state of Minnesota,as follows: i0.1.1 Property insurance in broad form covering all risks of physical loss in an amount equai 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 (bui including all building service equipment and machinery): • � The Association, at iis soie discretion, may or may not insure the following items: ceilang and wall finishing materials, floor coverings, cabinetry, finished millwork, electrical or plumbing fixtures serving a single Unit, built-in appliances, improvements and betterments regardless of when installed, and any items referred to in Section ' SISB3-113(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"). The policy or policies shall cover persona! property owned by the Association. The policy or policies shall also contain "Inflation Guard" and "Agreed Amount" endorsements, if reasonably available. Such policy or policies shall include such additional 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 precondition to their insuring, purehasing or financing a mortgage on a Unit. The Board may also, on behalf of the Association, enter into binding written agreements with a mortgagee, insurer or servicer, including without limitation the FHA, VA, FNMA or FHLMC, obligating the Association to keep certain specified coverages or endorsements in effect. 10_1.2 Commercial general liability insurance covering the use, operation, and maintenance of the Comznon Elements, with minimum limits of one million doilars per MPLS-Word 95281.11 24 ,