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expenses incurred or suffered by the Ansociation by rea.on or ari.ing out of or in connection with the foregoing lndeNCitlcation provi.ions shall be treated and handled by the ~..oclation a. a Common Expen.e. Nothinq in this Section .')all be deemed to obligate the ~ssoclation to indemnify any OWner who i. or ha. been a director or officer of the Ansociation, with re.pect to any duties or obligations assumed or damage ~r li~bilitie. incurred by him solely in his c~pacity as an OWner. Section 2. Fidelity Bond Coverage. The A..ociation shall purchase fidelity bond coverage for the Board ot Directors and employees, if any. of the Association in such amount. and with such coverage as she.l be determined by the Board, provided that coverage shall be in an amount at leaat equal to the estimated maximum of funds, including reserve fund. in the custody of the ~ssoci.tion, or its management agent, at any given time during the tEle." of the fidelity bond, and provided further that the fidelity bond shall not be less than a sum equal to three months' aggregate assessments on all Units plus re.erve funds. The proceeds of such fid&lity bond shall be payable to the Association as trustee for all Unit OWners and Security Holders as their intereets may appear. Such Cidelity bond sball be deposited wit~ the Association, or in the event an insurance ~rustee is appointed. with such insurance tru.tee. A.RTICLE VIII MISCELLANEOUS Section 1. Notices. A.ll notices required hereunder to be given to the Association or the Board of Director. shall be sent by c~rtlfied mail to the Board of Directors at the office of the Association or to such other addreso as the Board of Directors may her.4fter designate from time to time by written notice given Ln the manner hereLnafter prescribed. All notic.. to any J~ner/Hember, or Occupant enti~led to any notice. ahall be sent by IJ .S. mail to his Unit address or to such other 4ddress as "GaY be designated by him in writing from time to time to th~ A..ociation. All notices to First MortgAgees of Units shall be sent by u.S. ~ail to their re8p~ctive addre~ses as designated by them from time to time in ~ritln9 to the A~sociation. ~ll notice. shall be deemed to ~ave been ~iver. when Jeposited in the U.S. mail postage pr~paid, exce?t notices of change of address, which shall be 1ee,-ne..t to hav>!: "'~Qn given when received. Secti~~. Invalidity. The invalidity of any part of these By-Laws shall not impair ~r affect in any manner the vali~ity. enforceability ~r effect of the balance of these By-Law!'. -16-