HomeMy WebLinkAbout0938 _ 4. Certificate. In making distribution to members, the
Insurance Trustee may rely upon a certificate of the Association
made by its President and Secretary as to the names of the members
and their respective shares of .the distribution.
F. Association's Power to Compromise Claims. The Board of
Directors of the Association is hereby irrevocably appointed agent
for each member and for each owner of a mortgage or other lien
upon the Common Property or Association Property, for the purpose
of compromising and settling all claims arising under insurance
policies purchased by the Association, and to execute and deliver
releases therefor upon payment of claims.
Section VI. RECONSTRUCTION OR REPAIR AFTER CASUALTY.
A. Determination to Reconstruct or Repair. If any part of
the Common Property or the Association Property shall be damaged
by casualty, whether or not it shall be reconstructed or repaired
shall be determined in the following manner:
1. Common Property. If the damaged improvement is part
of the Common Property, the damaged property shall be
reconstructed or repaired unless it is determined by all the
members of the Association that it shall not be reconstructed.
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2. Association Property. If the damaged property is
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Association Property, but not part of the Common Property, the
Board of Directors of the Association shall determine whether the
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damaged property shall be reconstructed or repaired.
3. Certificate. The Insurance Trustee may rely upon a
certificate of the Association made by its President and
Secretary to determine whether or not the damaged property is to
be constructed or repaired.
B. Plans and Specifications. Any reconstruction or repair
_ must be substantially in accordance with the plans and
specifications for the original buildings; or if not then
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