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102 <br /> connection with the exercise of their enforcement or other powers as provided herein, shall be <br /> borne by the Association; provided, however, nothing herein shall be deemed to negate the <br /> Association's right to an award of court costs, attorneys' fees and expenses in accordance with this <br /> Article VIII. <br /> Article IX <br /> INSURANCE;REPAIR AND RESTORATION; CONDEMNATION <br /> Section 1. Board of Directors <br /> . The Board of Directors shall cause to be obtained and maintained at all times insurance of the <br /> type and kind and in no less than the amounts set forth below: <br /> (a) Fire. All Improvements and all fixtures and personal property included in the Common <br /> Areas and Maintenance Areas and all personal property and supplies belonging to the Association <br /> shall be insured in an amount equal to the current replacement cost(exclusive of land, foundation, <br /> excavation and other normally excluded items) as determined annually by the Board with the <br /> assistance of the insurance company providing coverage. The Board shall, at least annually, <br /> review the insurance coverage required herein and determine the current replacement cost of such <br /> improvements and fixtures and personal property and supplies. Such coverage shall provide <br /> protection against loss or damage by fire or other hazards covered by a standard extended coverage <br /> endorsement, windstorm and water damage, vandalism and malicious damage and all perils <br /> covered by a standard"all risk" endorsement. In addition to the provisions and endorsements set <br /> forth in Article IX, Section 3 and Section 4, the fire and casualty insurance described herein shall <br /> contain the following provisions: <br /> (i) standard"Agreed Amount" and"Inflation Guard" endorsements; <br /> (ii) construction code endorsements if the Common Area becomes subject to a construction <br /> code provision which would require changes to undamaged portions of any building thereby <br /> imposing significant costs in the event of partial destruction of such building by an insured peril; <br /> (iii) a waiver of subrogation by the insurer as to any claims against the Association, any officer, <br /> director, agent or employee of the Association, the Owners and their employees, agents, tenants <br /> and invitees; and <br /> (iv) a provision that the coverage will not be prejudiced by act or neglect of one or more Owners <br /> when said act or neglect is not within the control of the Association or by any failure of the <br /> Association to comply with any warranty or condition regarding any portion of the Property over <br /> which the Association has no control. <br /> The fire and casualty insurance policy shall not contain(and the insurance shall not be placed with <br /> companies whose charters or bylaws contain) provisions whereby: (1) contributions or <br /> assessments may be made against the Association or the Owners; (2) loss payments are contingent <br /> upon action by the carrier's directors,policy holders or members; and(3)there are limiting clauses <br /> (other than insurance conditions) which could prevent the Association from collecting the <br /> proceeds. <br /> 31 <br />