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such amounts as the Board of Directors shall determine. The
Board of Directors shall not obtain insurance against loss
by damage to or destruction o= the personal property o~
individual Uni: Owners.
4. Polities of directors a::d o`:ic~rs liability
insurance, insuring the.di=ectors and officers of t e Condocaiaii*m
associatio^ agairst personal liability arising in connection
with the performa:~ce of their duties.
3. Such wor!cnen's compensation insurance as is
required by law. -
B. ADDZTION~?L REQUIRE.`sENTS.
1. The insurance to be maintained by the Board
of Directors pursuant to Article XII A hereof shall comply
with the following requirements:. -
{a) All policies shall be issued by a company
licensed to do business in the State of rlorida and holdrnq
a Best's rating of "A" or better, or an eQUivalent rating if
BestTSiatings are discontinued.
(b) Exclusive authority to adjust losses
under said policies shall be vested in the Board or Directors
or its authorized representative.
(c) In no event shall coverage under said
policies be brought into contribution with insurance purchased
by individual Unit Owners or the holders of mortgages on
Units.
2. The=$oard of Directors shall attempt to
assure that the insurance to be maintained pursuant to
Article XII A hereof will provide for the following:
(a) A waiver of subrogation by t:~e insurer
as to any claims against the Unit 0•"rners (and me.*abers cf
their households), the Condominium Association, the officers
- and directors of tine Condominium Association, any manager,
and their respective servants, agents and quests;
(b) That said policies carrot be cancelled,
invalidated or suspended on account of the concoct of ary
one or more Unit Owners and in~no even can~c~rcellation,
invalidation or suspension for any reason be effected aitaout
at least ten (10) days' prior written notice to the 3oard of
Directors, to each Unit Owner and to ~he holders o~ all
Appro~~ed ~!or;.gages; and
(c) That nay "ao otaer :::su:~-c~" c'_acse :Z
said pe'_ic.es e:cc:~~des polic=es of i::aLv:dual :;a.. C«:-e.s
from c~rsiaerat:o:..
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