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201907112 ARTICLE VII INSURANCE Section 1. Coverage. The owner of each lot shall obtain and maintain the following coverage: a. Hazard 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 valuation of the buildings for that given year as set by the Hall County Assessor's Office, and b. Liability insurance for injuries sustained by individuals, not residents, who suffer such injuries upon the Owner's property. Section 2. Provisions. Each Owner shall notify and certify to the Association compliance with the aforementioned coverage and changes thereto by including the Association as an additional insured under such policy of insurance. 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 Association and public liability coverage for the common areas 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 coverage 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. Damages Structures. All damaged structures shall be rebuilt and/or replaced to the original standards. All plans shall be submitted to the Architectural and Landscape Committee for approval. Time will be of the essence and all parties concerned will attempt to expedite the completion of construction as soon as possible. Section 6. Additional Insurance. The Association may obtain additional insurance at its expense for its own benefit and protection. Page 11 of 1 4