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55 <br /> separate Unit, including all maintenance and repairs not associated with building-wide <br /> systems, such as repair of all finishes (walls, floors, ceiling). <br /> 13.) On a monthly basis, all costs incurred throughout the month will be totaled, and one <br /> request for reimbursement will be sent to the Town. Reimbursements should be paid <br /> through electronic funds transfer. All invoices that make up the total reimbursement <br /> request will be included as backup documentation. All charges will be billed at the split <br /> 53.6% County and 46.4% Town. <br /> 14.) Consistent with Paragraph 8 above, each party shall be responsible for any work to be <br /> performed and any costs associated with the same, in its respective areas described in <br /> Paragraphs 2 and 3 above. If repairs affect facility wide building systems (i.e. fire alarm) <br /> -the parry conducting the repairs will facilitate work and interrupts with the other party, <br /> to not affect their operation to the best of their ability. If interruptions are an emergency, <br /> the party conducting the repair will communicate to their best of their ability to the other <br /> party. <br /> 15.) With regard to casualty insurance, and material damage or destruction of the building: <br /> a. The Town will secure a single policy and agree to maintain casualty insurance for <br /> the replacement cost of the structure and liability insurance for$1 M/$2M. The <br /> Town will ensure the gap policy extends until such time as the Condominium is <br /> filed of record and both the Town and County are Unit Owners. <br /> b. The Town will obtain coverage based on the valuation of the building and provide <br /> that valuation report to the County. <br /> c. The Town will obtain coverage from an insurer authorized in the state with a <br /> current AM Best's rating of no less than ANII,unless otherwise acceptable to <br /> both parties. <br /> d. The Town will provide a copy of the insurance quote to the County,with the <br /> additionally insured endorsement. <br /> e. The following language will be used to list Orange County as additional insured: <br /> Orange County, its officers, officials, agents, employees and agents are designated <br /> as additionally insured. <br /> f. The Town will ensure that Orange County can file claims under the Town's <br /> insurance policy. <br /> g. Cost of insurance born by the Town and County based on their agreed upon <br /> Condominium Unit ownership share of the structure. Upon submission of an <br /> invoice by the Town to the County showing the insurance amount due, a check or <br /> electronic payment method for reimbursement from the County to the Town <br /> within 30 days after presentation. <br /> h. In the event of damage or loss <br /> i. the party whose Units damaged is responsible for the uninsured costs <br /> (deductible, and any overage); and <br /> ii. each parry is responsible for restoration <br /> i. In the event of a catastrophic or total loss, the parties to mutually agree to either: <br /> (i)rebuild, sharing the uninsured costs based on ownership shares, or(ii) <br /> distribute the insurance proceed and sell the land based on respective ownership <br /> interests. <br /> 16.) In the event an incident is reported to a party, the respective party will follow their <br /> internal incident reporting procedures. If the incident is related to the other party's <br />