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surplus in the manner elsewhere stated if the Board of Directors
of the Association determine not to replace such personal property
as may be lost or damaged.
(3) Certificate: In making distribution to the Unit
Owners and their mor gagees, the Insurance Trustee may rely upon
a certificate of the Association as to the names of the Unit
Owners and their respective shares of the distribution approved
in writing by an attorney authorized to practice law in the State
of Florida, or a title insurance company or abstract company
authorized to do business in the State of Florida. Upon request
of the Insurance Trustee, the Association forthwith shall deliver
such certificates.
D. Reconstruction or Repair After Casualty.
(1) Loss Less Than "Ve Substantial". Where a loss
or damage occurs wi n a Un t or Un ts, or to t e Commaon Elements,
or to any Unit or Units and the Common Elements, but said loss is
_ less than "very substantial" (as hereinafter defined), it shall
be obligatory upon the Association and the Unit Owners to repair,
restore and rebuild the damage caused. by said loss. Where such
loss or damage is less. than "very substantial":
(a) The Board of Directors of the Association
shall promptly obtain reliable and detailed estimates of the cost
of repairing and restoration.
(b) If the damage or loss is limited to the
Common Elements, with no, or minimum damage or loss to any indi-
vidual Units, and if such damage or loss to the Common Eldn?ents
is less than $3,000.00,, the insurance proceeds shall be endorsed
by the Insurance Trustee over to the Association, and the Associa-
tion shall promptly contract for the repair and restoration
thereof .
(c) If the damage or loss involves one or more
individual Units encumbered by Institutional Mortgages, as well
as the Common Elements, or if the damage is limited to the Common
Elements alone, but is in excess of $3,000.00, the insurance
proceeds shall be disbursed by the Insurance Trustee for the
repair and restoration of the property upon the written direction
and approval of the Association as to the payee and the amount to
~ be paid from said proceeds. All payees shall deliver paid bills,
waivers and releases of mechanics' liens to the Insurance Trustee,
y shall execute any Affidavit required by law, by the Association,
or by the Insurance Trustee, and shall deliver same to the Insur-
ance Trustee.
d
( ) Subject to the foregoing, the Board of Directors
shall have the right and obligation to negotiate and contract for
the repair. and restoration of the premises.
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(e) If the net proceeds of the insurance are
insufficient to pay the estimated cost of restoration and repair
(or the actual cost thereof if the work has actually been done),
the Association shall promptly upon determination of the deficiency,
levy a special assessment against each Unit Owner in proportion
~ to the Unit Owner's' share in the Common Elements for the portion
of the deficiency attributable to the cost of restoration of the
Common Elements, and agaifist each Unit Owner for that portion of
the deficiency attributable to his individual Unit; provided,
however, that if the Board of Directors finds that it cannot
{ determine with reasonable certainty the portion of the deficiency
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