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against each Owner and his Apartment shall bear the same ~
proportion to the total Assessment levied against all Owners
of Apartments sustaininq loss or damage as the cost of
repair, replacement or reconstruction of each Apartment
bears to the cost applicable to all of said Apartments
sustaining loss or damage. If the fire and casualty insuranc~
proceeds Payable to the Insurance Trustee in the event of .
the loss or damage to Common Elements and Apartments is~not
in an amount which will pay for the complete repair, replace-
ment or reconstruction of the Common Elements, it being
recognized that such insurance proceeds are to be first
applied to payment for repair, replacement or reconstruction
of said Common Elements before being applied to the repair,
replacement or reconstruction of an Apartment, then the cost
to repair, replace or reconstruct said Common Elements in
excess of available fire and casualty insurance proceeds
shall be levied and collected as an Assessment from all
Owners in the same manner as if the loss or damaqe sustained
had been solely to Common Elements and the fire and casualty
insurance proceeds had not'-been sufficient'to cover the cost
of repair, replacement or reconstruction. The cost of
repair, replacement or reconstruction of each Apartment
sustaining loss or damage shall then be levied and collected
by Assessment of Owne=s sustaining the loss or damage in the
same manner provided above for the apportionment of such . '
Assessn~nt among Owners sust~ining ~~~h lass ar 3amage. '
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In the event of loss or damage to property cov~red by.such
fire and casualty insurance, the Condominium Association
shall, within sixty (6~) days after any such occurrence,
obtain reliable and detailed estimates of the cost of re-
storing damaged property to a condition as good as that
which prevailed before such loss or damage in accordance
with the original plans and specifications of this Condomin- :
ium prepared by Architects Stebbins & Scott, dated August 16, {
1973, as the same may have been modified, copies of which _
have been filed with the Condominium Association; provided,
however, different architectural plans prepared by architects
i and engineers licensed in the State of Florida may be obtained
and the repairs, replacement or reconstruction made in
; accordance therewith when approved at a special meeting of
the members of the Condominium Association held in accordance
with its By-Laws, and by each Apartment Unit Owner whose
Apartment Unit will be affected by such different plans, and
by all Institutional Mortgagees. Such estimates are to
contain and include the cost of any professional fees and
premiums for such Bonds as the Board may deem to be in the
best interests of the Membership. Whenever it shall appear
that the insurance proceeds payable for such loss or damage
will not be sufficient to pay for such repair, replacement
or reconstruction, the additional monies required to completely
pay for such repair, replacement or reconstruction of said
~ loss or damage, whether to be paid by all Owners or only
Owners sustaining loss or damage, or both, shall be deposited
from the date on which said Insurance Trustee shall receive
the monies payable under the policies of fire and casualty
insurance.
In the event of the loss or damage to personal property
belonging to the Condominium Association, the insurance
proceeds, when received by the Insurance Trustee, shall be
paid to the Condominium Association. Should the Board
determine not to replace lost or damaged property constitu-
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