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33 <br /> (c) Such other insurance coverage as it may determine to be desirable and necessary, <br /> including fire and hazard insurance covering all improvements located on t he Common <br /> Elements. <br /> (d) Such other fidelity bonds as it may determine to be desirable and necessary for <br /> those officers or employees having control over Association funds. <br /> (e) Other insurance required by law. <br /> Section 2. PREMIUMS. Premiums for insurance policies purchased by the <br /> Association shall be paid by the Association and charged as a Common Expense chargeable to <br /> Owners as an annual assessment according to the applicable provisions of this Declaration. <br /> Section 3. INSURANCE BENEFICIARIES. All such insurance policies shall be <br /> purchased by the Association for the benefit of the Association and the Owners as a group. <br /> Section 4. INSURANCE TO BE MAINTAINED BY THE OWNERS. Every Owner <br /> shall maintain in full force and effect at all times fire and hazard insurance in an amount equal to <br /> the full insurable value of his improvements except that the amount shall not be required to <br /> exceed the replacement cost of the improvements. An Owner shall exhibit to the Board, upon <br /> request, evidence that such insurance is in effect. If any Owner shall fail to maintain such <br /> insurance, the Board is authorized to obtain such insurance in the name of the Owner from an <br /> insurer selected by the Board, and the cost of such insurance shall be included in the annual <br /> assessment of the Owner and shall constitute a lien against his Lot until paid as a result of <br /> enforcement by the Association or otherwise. <br /> ARTICLE VIII. <br /> ARCHITECTURAL CONTROL <br /> Section 1. BUILDING AND SITE IMPROVEMENTS. No dwelling, wall or other <br /> structure shall be commenced, erected, or maintained upon any Lot in the Property, nor shall <br /> any exterior addition to or change in or alteration therein (including color of paint or finish) be <br /> made until the plans and specifications showing the nature, kind, shape, heights, materials, and <br /> location of the same shall have been submitted to and approved in writing as to harmony of <br /> external design and location in relation to surrounding structures and topography by the <br /> Declarant, or its designee, or, after the sale of all Lots by the Declarant, by the Board of Directors <br /> of the Association, or by the Architectural Committee composed of three (3) or more <br /> representatives appointed by the Board. In the event the Declarant, or its designee or, if <br /> applicable, the Board, or its designated committee, fails to approve or disapprove such design <br /> and location within thirty (30) days after said plans and specifications have been submitted to it, <br /> approval will not be required and this Article will be deemed to have been fully complied with, <br /> provided that such addition, change, or alteration is in general conformity with the overall plan, <br /> design, and appearance of the subdivision in general. Refusal or approval of any such plans, <br /> location or specification may be based upon any ground, including purely aesthetic and <br /> environmental considerations, that in the sole and uncontrolled discretion of the Declarant, the <br /> board of directors or the Architectural Committee, as the case may be, shall be deemed sufficient. <br /> One copy of all plans and related data shall be furnished to the Declarant or the Architectural <br /> Committee as the case may be, for its records. <br />