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<br /> <br />10.2 Property Insurance for Units. Each Owner shall obtain and maintain the <br />rance coverage relating to the ownership <br />Owners, including the Declarant, if applicable, may elect at any time to have the <br />Association provide the property and/or liability insurance on all of the Units by <br />approval of 67% of the votes in the Association. Election may be obtained in <br />writing or at a meeting of the Association duly held in accordance with the By- <br />Laws. licy shall declare a <br />maximum deductible of $50,000.00 per claim. Furthermore, each Owner shall <br />retain the right to obtain additional personal insurance coverage at his or her own <br />expense covering fire and other casualty to the Unit, personal property or personal <br />liability. In the event the Association maintains an insurance policy covering all <br />of the Units, then any insurance policy maintained by an Owner must provide that <br />it is without contribution as against the insurance purchased by the Association. <br />provided by the Association shall be paid by the HO 6 Policy. <br /> <br />10.3 Premiums; Improvements; Deductibles. All premiums for insurance coverage <br />maintained by the Association shall be assessed and paid as a Common Expense. <br />The Association may, in the case of a claim for damage resulting from the acts or <br />omissions of a Unit Owner or Occupant or their guest, licensee or invitee, (i) pay <br />the deductible amount as a Common Expense; (ii) pay the deductible and assess <br />the deductible amount against such Unit and Owner in any reasonable manner; or <br />(iii) require the Owner of the Unit responsible for the damage to pay the <br />charged with paying the deductible amount may, but need not, be based upon <br />fault. <br /> <br />10.4 Loss Payee; Insurance Trustee. All insurance coverage maintained by the <br />Association shall be written in the name of, and the proceeds thereof shall be <br />payable to, the Association (or a qualified insurance trustee selected by it). The <br />Association, or any insurance trustee selected by it, shall have exclusive authority <br />to negotiate, settle and collect upon any claims or losses under any insurance <br />policy maintained by the Association. <br /> <br />10.5 Waivers of Subrogation. All policies of insurance shall contain waivers of <br />subrogation by the insurer against the Association, the Board, Owners, members <br /> <br /> <br /> <br /> <br />_____ <br />25 <br />022818 <br /> <br />