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32 <br /> (b) Reconstruction or Re air. If the damage or destruction for which the <br /> insurance proceeds are paid is to be repaired or reconstructed, the proceeds, or such portion <br /> thereof as may be required for such purposes, shall be paid to defray the costs thereof. Any <br /> insurance proceeds in excess of the amount required to pay for the costs of repairs or <br /> reconstruction of the insured property, shall be retained by and for the benefit of the Association <br /> and held in a reserve account for capital improvements. <br /> (c) Failure to Reconstruct or Repair. If it is determined that the damage or <br /> destruction for which the insurance proceeds are paid shall not be repaired or reconstructed,then <br /> the said proceeds shall be retained by and for the benefit of the Association and held in a reserve <br /> account for capital improvements. <br /> ARTICLE X <br /> DAMAGE AND DESTRUCTION <br /> Section 10.01 Estimatinp, Cost of Repairs. Immediately after the damage or <br /> destruction of all or any part of the Common Elements and/or Trails covered by insurance <br /> written in the name of the Association, the Association shall file and settle all claims arising <br /> under such insurance policies and obtain detailed estimates of the cost of repair or reconstruction <br /> of the damaged or destroyed Common Elements and/or Trails. <br /> Section 10.02 Property to be Repaired or Reconstructed. Any damage or <br /> destruction to any part of the Common Elements and/or Trails insured by the Association shall <br /> be repaired or reconstructed unless at least seventy-five percent(75%) of the voting Members of <br /> the Association shall vote not to repair or reconstruct the damaged property within ninety (90) <br /> days after the damage or destruction. No mortgage shall have the right to participate in the <br /> determination of whether the damage or destruction shall be repaired or reconstructed. <br /> Section 10.03 Properiv not to be Repaired or Reconstructed. In the event that it is <br /> determined that the damage or destruction of property insured by the Association shall not be <br /> repaired or reconstructed and no alternative improvements are authorized,then, and in that event, <br /> the said property shall be restored to its natural state and maintained as an undeveloped portion <br /> of land by the Association. <br /> Section 10.04 Insufficient Insurance Proceeds. If the damage or destruction for <br /> which the insurance proceeds are paid is to be repaired or reconstructed and if the said proceeds <br /> are insufficient to defray the costs thereof,the Board of Directors may levy a Special Assessment <br /> against all Owners in proportion to the number of Lots owned by such Owners. Additional <br /> Assessments may be made at any time during or following the completion of any repair or <br /> reconstruction to cover the costs of same. <br /> ARTICLE XI <br /> ARCHITECTURAL CONTROL COMMITTEE <br /> Section 11.01 Architectural Control Committee and Guidelines. Declarant during <br /> the Period of Declarant Control or, thereafter, the Board of Directors, may appoint an <br /> Architectural Control Committee each year consisting of not less than one(1)nor more than five <br /> (5) Persons, none of whom need be a Member. In the event the Board of Directors shall fail to <br /> appoint an Architectural Control Committee at any time subsequent to the expiration or <br /> 22 <br />