HomeMy WebLinkAbout0743 int~.~rior fixtures such .,s el~~~tri~al and plumbing fixtures;
tlooc covecinys except the rluur slab; and inside paint and
otter inside wall finishes.
When appropriate and possible, the policies shall
waive the insurer`s riyt~t tU
(a) subroyatiun against the Association and against
the unit owners individually and as a yroup;
(b) the pro-rata clause that reserves to the
insurer the right to pay only a fraction of any loss if
other insurance carriers have issued coverage upon the
same risk; and
(c) avoid liability for a loss that is caused by
an act of the board of directors of the Association, or
by a member of the board of directors of the Association
or by one or more unit owners.
b. Public liability in such amounts and with such
c~~verage as shall be required by the board of directors of the
Association, including but not limited to hired automobile and
non-owned automobile coverages, and with gross liability
endorsement to cover liabilities of the unit owners as a group
to a unit owner.
c. Workmen's compensation policy to meet the re-
quirements of'law.
d. Such other insurance as the board of directors
of the Association sha etermtne from time to time to be
desirable.
8.3. P1tEMIUMS. Premiums upon insurance policies pur-
ct~a5ed by t e~ Association shall be paid by the Association as a
cununon expense, except that the amount of increase in the
premium occasioned by use for other than a residence, or
misuse, occupancy or abandonment of a unit or its appurtenances
~~r of the common elements by a unit owner shall be assessed
against and paid by that owner. Not less than ten days prior
to the date when a premium is due, evidence of the payment
shall be furnished by the Association to each mortgagee listed
in tt,e roster of mortgages.
8.4. INSURANCE TRUSTEE; SHARES OF PRaCEEDS. All insur-
ance policies purchased by the Association shall be for the
benefit of the Association and the unit owners and their
mortyagees as their interests may appear, and shall provide
that all proceeds covering property losses shall be paid to
such bank in Florida with trust powers as may be designated as
insurance trustee by the board of directors of the Association,
which trustee is referred to in this instrument as the
Insurance Trustee. The Insurance Trustee shall not be liable
for payment of premiums nor for the renewal or the sufficiency
of policies nor for the failure to collect any insurance
proceeds. The c _y of the Insurance Trustee shall be to
receive and hold the insurance proceed s and other funds that
are paid to it in trust for the purposes elsewhere stated in
BOJK ~~J P1GE
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