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84..~•-~ ~~~~osss the Board bf Administrators to be sixty-six and two-thirds per~•ent (66 2/381 or more of the total replacement cost of the building containing the condominium suites in any Regime, not including land, the Board shall forthwith, within thirty {30) days of the occurrence of said damage or destruction, call a special member's meeting for the purpose of presenting to the suite owners the alternative of repair and recon- struction or sale, pursuant to Sections 4 or 5 of Article %. At such meeting, the Board shall present estimates of repair and reconstruction costs, the amount of insurance proceeds available, the projected necessity for, and amount if any. of special assessments necessary to cover any deficiency in insurance proceeds, the projected sale price of the property as is, and projected distribution of all funds, including insurance proceeds, should the owners choose sale rather than repair and reconstruction. In arriving at such figures to be presented to the owners, the Board may employ such experts as deemed advisable. After presentation of all relevant financial information available to the Board, the owners of the suites in the affected Regime shall be re- quired to adopt unanimously either a plan of repair and reconstruction or a plan of sale. If such unanimous af- firmative vote of said owners is not obtained, the Board of Administrators of the Association may adopt a plan of sale binding upon all owners. Any plan so adopted must subse- quently be approved in writing by the first mortgagees of record as of the date of adoption of the plan. Section 4. Plan of Repair and Reconstruction -- Damage or f)estzuction. In the event that a plan of repair and reconstruction is adopted by the owners and subsequently approved by the first mortgagees, as above set forth, the Board of Adminis- trat~rs shall forthwith proceed to repair and reconstruct the improvements as set forth in Section 2 of Article X. Section S. Plan of Sale -- Damage or Destruction. In the event that a plan of sale is adopted by the owners and subsequently approved by the first mortgagees, as above set forth, or in the event that a plan of repair and reconstruction is adopted by the owners but is not approved by the required number of first mortgagees of record within sixty (60) days from the adoption of the ~ n, then the Board of Administrators shall forthwith r~• ~r~' a notice setting forth such fact or facts, and upon the recording of such notice with the Register of Deeds of Hall County, Nebraska, by the Association's President and Secretary or Assistant Secretary, the entire remaining premises shall be offered for sale and sold by the Association pursuant to the provisions of this Article, as attorney-in-fact for all of the owners, free and clear of the provisions contained in the Master Deed, the Articles of Incorporation and these By- Laws. The insurance settlement proceeds shall be collected by the Association, and such proceeds shall be divided by the Association according to each owner's interest in the general common elements, and such divided proceeds shall be paid into separate accounts, each such account representing one of the condominium suites. Each such account shall be in the name of the Association, and shall be further i- dentified by the condominium suite designation and the nas-e of the owner. From each separate account, the Association, as attorney-in-fact, shall forthwith use and disburse the total amount of each of such accounts, without contribution from one account to another, toward the partial or full payment of the lien of any first mortgage against the condo- _17_