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202505975 or garages) in an amount equal to the full replacement value, without deduction for depreciation, and which shall contain a standard non-contributory mortgage clause in favor of each mortgagee of a condominium suite or garage which shall provide that the loss, if any, hereunder shall be payable to such mortgagee as its interest may appear, subject, however to the loss payment provisions in favor of the Board of Administrators as set forth in Section 1 of Article X; public liability insurance in such limits as the Board of Administrators may from time to time determine, covering the Association, each member of the Board, the Managing Agent, agents and employees of the Association and each suite or garage owner; and such additional coverage as the Board of Administrators may from time to time determine is appropriate. Such public liability coverage shall also cover cross liability claims of one insured against the other. Certificates of all policies of physical damage insurance and all renewals thereof, together with proof of payment of premiums, shall be delivered to all mortgagees of suites or garages at least ten (10) days prior to expiration of the then current policies. The cost of such policies shall be a common expense. The Board of Administrators shall determine, at least annually, the replacement value of the condominium buildings, and in so doing, may employ such experts as the Board may feel necessary. D. All policies of physical damage insurance shall contain waivers of subrogation and waivers of any defense based on co-insurance or of invalidity arising from any acts of the insured and shall provide that such policies may not be cancelled or substantially modified without at least ten (10) days' prior written notice to all of the insureds, including mortgagees. E. Each Suite and Garage owner shall obtain and maintain the following coverages on the Suite or Garage that they own and any Common Elements or Limited Common Elements intended to benefit solely their Suite or Garage and an adjacent Suite or Garage: a. Property Insurance on their Suite or Garage, including Common Elements a limited to intended to benefit a single garage or two adjoining suites or garages, insuring against all risks and direct physicalloss commonly insured against. Specifically, the owner shall obtain property insurance on the interior surface of perimeter walls, ceilings, and floors which define the boundary planes of the suite or garage (including drywall, wall coverings, ceilings, and floor covering). b. The total amount of insurance on said Suite or Garage shall not be less than the replacement cost coverage of each individual Suite or Garage. c. Liability insurance, including medical payments insurance, in the amount determined by the Board of Administrators but not less than $500,000 personal liability and $1,000 medical payment per person covering all occurrences commonly insured against for death, bodily injury and property damage arising