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5 <br /> IV, 7 below. The Town and County shall each be responsible for the repair <br /> and maintenance of all IT systems in its designated Unit space. <br /> 7.) Maintenance: The Town will be responsible for all maintenance of the <br /> Common Areas or Common Elements and all building-wide systems that <br /> service Town and County space, including but not limited to HVAC, Fire <br /> alarm, badge readers, cameras,plumbing, landscaping, remedial work, repairs <br /> or warranty work. The Town shall have sole control and discretion in the <br /> work to be performed and costs of the same.Notwithstanding in the event a <br /> single expense estimated to be in excess of$5000.00, the parties will <br /> communicate with each other and agree to the expense prior to engaging the <br /> vendor unless it is an emergency requiring immediate action for maintenance <br /> or repair. On a monthly basis, all costs incurred throughout the month will be <br /> totaled, and one request for reimbursement will be sent to the County. <br /> Reimbursements should be paid through electronic funds transfer. All <br /> invoices that make up the total reimbursement request will be included as <br /> backup documentation. All charges will be billed at the split 55.58%County <br /> and 44.52%Town. <br /> 8.) Maintenance and repair of the portion of the building designated to be a Unit <br /> for the separate use of the Town or County, shall be borne by the party <br /> designated to use the separate Unit, including all maintenance and repairs not <br /> associated with building-wide systems, such as repair of all finishes (walls, <br /> floors, ceiling). <br /> 9.) Consistent with Paragraph 8 above, each party shall be responsible for any <br /> work to be performed and any costs associated with the same, in its respective <br /> areas described in Paragraphs 2 and 3 above. <br /> 10.) With regard to casualty insurance, and material damage or destruction of <br /> the building: <br /> a. Until such time as both parties,the Town and County are Unit Owners <br /> of the Condominium,the Town will secure a single policy and agree to <br /> maintain casualty insurance for the replacement cost of the structure <br /> and liability insurance for$1 M/$2M. The Town will ensure the gap <br /> policy extends until such time as the Condominium is filed of record <br /> and both the Town and County are Unit Owners. <br /> b. The Town will obtain coverage based on the valuation of the building <br /> and provide that valuation report to the County. <br /> c. The Town will obtain coverage from an insurer authorized in the state <br /> with a current A.M Best's rating of no less than A:VII,unless <br /> otherwise acceptable to both parties. <br /> d. The Town will provide a copy of the insurance quote to the County, <br /> with the additionally insured endorsement. <br /> e. The following language will be used to list Orange County as <br /> additional insured: Orange County, its officers, officials, agents, <br /> employees and agents are designated as additionally insured. <br /> f. Cost of insurance born by the Town and County based on their agreed <br /> upon Condominium Unit ownership share of the structure. Upon <br /> Final Revision 12/15/24 <br />