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200104454 ARTICLE VII INSURANCE Section 1. Coverage. The Owner of each lot shall obtain and maintain the following coverage: A. Property insurance on the buildings and improvements, including fences on the lot owned by the Owner, including all risks of direct physical loss commonly insured against. The total amount of insurance after application of any deductibles shall not be less than the assessed value of each lot for that given year as set by the Hall County Assessor's Office, and B. Liability insurance including medical payment insurance in an amount determined by the Association, but not less than $ 1,000,000 covering all occurrences, insured against for death, bodily injury, and property damage arising out of or in connection with the use, ownership, or maintenance of the common elements. The Association may determine that additional coverage may be necessary and may require such additional coverage if it deems it necessary. If the aforementioned insurance is not available, the Owner shall cause notice of that fact to be hand - delivered or sent, prepaid, by United States Mail to the Association. Section 2. Provisions. Insurance policies must provide that each Owner is insured and the Association is an additional insured person under the policy. Each Owner shall notify and certify to the Association compliance with the aforementioned coverages and any changes. Section 3. Insurance by Association. The Association shall not be prohibited from carrying other insurance for its own benefit. Insurance coverage on signs and other personal property belonging to the Association and public liability coverage within the property shall be the sole and direct responsibility of the Association itself and the Owners shall have no responsibility thereto. Section 4. Notice. The insurers that have issued the insurance coverages, pursuant to Section 1, shall issue certificates of insurance to the Owners and copies to the Association. The insurers issuing the policy shall not cancel or refuse to renew it until thirty (30) days after notice of the proposed cancellation or non - renewal has been mailed to the Owner, the Association, and each mortgagee or beneficiary under a deed of trust at their last known addresses. Section 5. Damaged Structures. All damaged structures shall be rebuilt and /or replaced to the original standards. All plans shall be submitted to the architectural and landscape committees for approval. Time will be of the essence and all parties concerned will attempt to expedite the completion of construction as soon as possible.