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<br /> �3. �yi�0e• Th� ���ooi�tion �haii inrur� �h� aondo- �
<br /> miniu� aad th� a�sncistioa aqe�iASt ri�k, includinq tort liebil-
<br /> ity, in tho sanner ��t forth in the By-laws. 7► uuit o�►n�r aay
<br /> obtain ineuranaa, �or the unit oMmor's aacount aad benefit, cov-
<br /> ariag the uait end aontonta. Eaah poliay eball be iseuod in tho
<br /> n�ae of the assacia�tioA for th� benefit of unit ownere in propor-
<br /> � tfon to the allocated i�ntorests �hown heroinabove at sectioa 7.
<br /> ,,: 24. ��5. 1►ny damags to the aoadominiwa aaueed by fire
<br /> ���!,: or othear ae►su�lty ahal.l be promptly repaired by the eseoaiation
<br /> t��t`:.. ;r';�';;1�.. %'�
<br /> � ;}�' in the menner eot forth ia tbe By-lawe, unless (1) the aorido-
<br /> ���;'�. aix►ium ie terminated, (2) repair or replacemeat would be iilegal
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<br /> ,;i;;����. �:�,' _ : %;f' under +�uay state or locel health or sefety etatute or ordinanae or �
<br /> r : .��ry
<br /> �:,, ;� .;.����.. �,�,����,, (3) Eighty Percent (80�) cf the unit ownera, iaaludiaq tha un�.t
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<br /> �� ;,.�; �, �.�,
<br /> :�: �;�-�;;�'S�:-�`'�'��•�:��j,. awner of every unit which will not be rebuilt ,snd evory unit �o
<br /> .rt', � � „v � :. <.�r�:;��t,:.
<br /> .•�'�' ,;;s3i,:�'t;��'1:.;:�:}+:
<br /> � ;��,:,.�c••..;,,,..�,�,;;►.�,'� whiah a limited aammon element ie asaigaed whiah will aot be
<br /> , :;,,�• .,�.:, �.., • �;�.�:n, •
<br /> '`''� " ��'� :��� rebuilt, vote aot to rebuild. The cost of repair or replace�aent
<br /> 5 _ _ °i
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<br /> ;', in exaess of insuranae proaeeds and reserves is e common sxpense.
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<br /> ; J . � If the eatire condominium is not repaired ar replaced, (1) the
<br /> :
<br /> � n , �. insuranae proaeeds nttributable to the damaged com�aon elementa
<br /> �'•� � must be used to rQetore the dameged area to a condition aompati-
<br /> ��l, . : .
<br /> �,;�. :;� , . ble wi�h tho remainder of the aondo�ui.nium, (2) the insu�cance pro-
<br /> i , � � aeeds a�tributable ta units and limited common elements which are :��
<br /> . " ' �� not rebuilt must be distributed to the owners of those uaite and .
<br /> &; the ownere of the unfts to which those limited common elements
<br /> .:..�. . � ,
<br /> � ; were aesiqned, or the lienholders, ae the3r interests may appear, .
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<br /> � �� ,�:;„:� I in proportifon ta the allocated interests of all the units. If � .
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<br /> � � � the unit owners vote not to rebnild any unit, that unit's allo- '
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<br /> � ' cated interest fs automatically reallocated, and the asaociation �
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