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� 9.7 Dut�to Report Defects. Owners or Occupants shall promptly report to the � Association any defect or need for repair to those parts of the ProperEy which the Assaciation is obligated to maintain. 9.$ Damaee Caused by 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 willfut or neglige.^.t a�:or omission�f an Owner or Qccupant,the guest or invitee of an Owner or Occupant, or by a condition in or on the Property which the Ownec or the Occupant has willfully or negligently allowea to exist, the Association may cause such � damage or condition to be repaired or corrected (and enter upon any Unit and Limited Common 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 shall be a personal obligation of the Owner and a lien against that Owner's Unit. SECTtON 10 1NSURANCE 10.1 Recauired Coveraee. The Association sha11 obiain 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 set forth herein issued by one or more than one reputable insurance company authorized to do business in the state of Minnesota,as follows: i0.1.1 Property insurance in broad fQrm covering all risks of physical loss in an amount equal to one hundred percent�of the insurable"replacement cosY'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 Association, at its sole 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 ' 515B3-113(b)(i) through (vii) of the Act, but must do so if required by the Federa] ! Naciona! 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 personal property owned by the Association. The policy or policies shall aiso contain "Inflation Guard" and "Agreed Amount" endorsements, if reasonably available. Such policy or policies shall include such additionat 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, FNN1A or FHLMC as a precondition to their insuring, purchasing 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, �NMA or FHLMC, obligating the Association to keep certain speci�ed coverages or endorsements in effect. 10.1.2 Commercial 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 ;