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~; respective interests appear, of each unit, if any. For the purposes of any policy or policies of fire insurance, t h e c o v e r a g e s h a l l i n c l u d e f i x t u r e s, i n s t a l l a t i o n s o r a d di tions comprismg a p a r t o f t he bui l ding wi t hin t he unfinished interior 'surfaces of the perimeter walls, floors and ceilings of the individual Condominium Units ~ i initially installed or replacement thereof, in accordance with the original Condominium plans and ~_- specifications, or installed by or at the expense of any unit owner or owners; ~ (b) Each unit owner shall either self insure for any liahility arising from incidents within its unit or on the common elements or shall carry such liability insurance as it sees fit. No unit owner shall look to the Association or another unit owner to cazry liability insurance or claim that such coverage should have been procured. (c) Worker's compensation insurance to the extent necessary to comply with any applicable laws; and (d) Any fidelity bonds which the Board of Directors may deem necessary or prudent. The Association shall not be responsible for any loss or damage to personal property of any unit owner, whether stored on the common elements or in the owner's unit,~ nor shall the Association maintain any insurance coverage for such loss. - , 2. AiJTHO i'i'Y TO NST LO~~R~. All losses under policies hereafter in forc~ regazding the property shall be settled eaclusively with the Board of Directors or its authorized representative. Releases and proofs of loss shall be executed by at least two directors. 3. VALUE OF OWNER IlvIPROVEMIIJTS. Each unit owner must inform the Board of Directors of the value of improvements made to its office unit in excess of Ten Thousand Dollars ($10,000) so that the Boazd of Directors may make any desired adjustments in insurance coverage. Nothing in this paragraph shall permit a umt owner to make improvements without fust obtaining the approval of the Board of Directors pursuant to Article VII. 4. RFVIEW OF IN TRAN(`_R PnT.T(•_TF4. At least annually, the Board of Directors shall review all insurance carried by the Associatio~ of Unit Owners, which review shall include an appraisal of all improvements made to the project by a representative of the insurance carrier writing the master policy. ARTICI.E lX pt~MAG~ AND DESTRUCTION 1. . INSUR~NCE PROCEEDS SL?~GIENT TO COVER LO S. In case of fire, casualty or any other damage and desixuction, the insurance proceeds of the master policy, if sufficient to reconstruct the {?- ..buildings damag~d or destroyed, shall be applied to such reconstruction. L~ 2. INS TRAN PR .FDS IN TRRiCIENT TO COVER L.n~S. If the insurance proceeds are {~? insufficient to reconstruct the damaged or destroyed buildings, the damage to, or destruction of, such ~ buildings shall be promptly repaired and restored by the manager or the Boazd of Directors, using the procee~s of insurance, if any, on such buildings for that purpose, and all the unit owners shall be liable for assessment for any deficiency for such t+ec.onstcuction, such deficiency to take into consideration as the unit ~ owner's contribution any individual policy insurance proceeds pmvided by such owner. Provided, ~.~ however, if three-fourths or more in value of the office building is destroyed or substantially damaged and if the unit owners of at least eighty percent (80%) of the usable square footage (by BOMA measurement) ~ of office units in the Condominium so vote, the manager or Boazd of Directors shall record with the County Recorder a notice setting forth such facts, and upon the recording of such notice: ~ (a) The Condominium property shall be deemed to be owned in common by the unit owners; ~ ~ , Bylaws Courthouse Square Condominium , ~-' Page - 11 1026980258 ~~