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(a) Partial Destruction - When Units are to
be repaired and restored -for the Owners of
the damaged Units in proportion-to the cost
of repairing the damage suffered by each Unit
Owner.
(b) Total Destruction of improvements to
Condominium Property or where "Very Sub-
stantial damage occurs and the improvements
to Condominium Property are not to be restored
as provided hereinafter in this Article - for
the Owners of all Condominium Units,-each
Owner's share being in proportion to the
Owner's share of Common Elements appurtenant
to the Owner's Condominium Unit.
(3) Loss Pa able~Provision as to Mort a ees: In
the event mortgagee en orsement as been ssued as to a
' Unit, the share of the-Unit Owner shall be held in
trust for the mortgagee and the Unit Owner as their
interests may appear; provided, however, that no mortgagee
shall have the right to determine or participate in the
determination as to whether or not any damaged property
shall be reconstructed or repaired.
8. Coverage.
(1) Liabilit Insurance. The Board of Directors of
' the Association sha obtain public liability and property damage
insurance covering all of the Comoros Elements of the Condominium,
and insuring the Association, the Board of Directors, and the-
, Unit Owners as its and their interests appear, in such amounts as
the Board of Directors of the Association-may determine from time
to time, provided that the minimum amount of.coverage shall be at
least $250;000/$500,000/$10,000. Said insurance shall include
but be not limited to legal liability, hired automobile, non-
; owned automobile and off-premises employee coverages. All liability
insurance shall contain cross-liability endorsements to cover
liabilities of the Unit Owners as a group to a Unit Owner.
Premiums for'the.payment•for such .insurance shall be paid by the ~
~ Association and charged as a Common Expense.
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(2) Casualty Insurance. The Association shall obtain
fire and extended coverage insurance, flood insurance, if available,
and vandalism and malicious mischief insurance, insuring all the
insurable improvements within the Condominium, (including fixtures,
installations or additions comprising that part of the building f
within the unfinished interior surfaces of the perimeter walls,
floors and ceilings of the individual Units initially installed
replacements thereof, in accordance with the original plans and
specifications including personal property owned by the Associa-
tion, all Unit Owners and their mortgagees, as their interests
may appear, from a company meeting the standards set by the Board
of Directors of the Association, in an amount equal to the maximum
insurable replacement value as determined annually by the Board
of Directors of the Association; the premiums for such coverage
and other expenses in connection with such insurance shall be
paid bythe Association and charged as a Common Expense. The
company or companies with whom the Association shall place its
insurance coverage as provided in-this Declaration must be good
and responsible companies authorized to do business in the State
of Florida. The Association shall have the right to designate s
the Insurance Trustee (as hereinabove defined).
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