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g~a... $)(~ ~ 413 Section 2. Damage and Destruction -- Repair and Reconstruction Mandatory. 3n the event of any damage or destruction due to fire ar other disaster, which damage or destruction is dete=rmined by the Board of Administrators to be less than sixty-six and two-thirds percent (66 2j34) of the total replacement cost. not including land, of the building containing the condo- minium townhames in this Regime, such damage or destruction shall be promptly repaired and reconstructed by the Associ- ation as attorney-in-fact, and the Association shall have full authority to deal with insurance proceeds in such repair and reconstructior_. Ir. the event that insurance proceeds are insufficient to repair and reconstruct the improvements, the Association shall levy a special assessment to provide an amount suf- ficient tc conduct said repair and reconstruction along with insurance proceeds. Such assessment shall be levied and collected according to Seotion 3 of Article V, and the Association snail also have the rights noted in Sectior. 11 of Article x. Section 3, Damage c,r _Jes*ruction -- Repair and Reconstruction t,~gtional. Tn the; event raf damage +>r destructior. due to fire ar ct2:er disas*_er, which damage or destruction is determined by the Board cf. Administrators tc~ be sixty-six and two-thirds percent (66 2j'3~) or Wore :;. the total replacement cost cf all of the condominium tcwnhc:nes ir. this Regime, riot in- cludinr~ land, the Bo~irc steal% "crthwith, within thirty (30) days of the o<:currencc f>f .:aid danaye r,~.r destruction, call a special :^:esssber's ?teetirg `or the purpose of presenting to the tcwnhome ;wners thc. alternati'e ~~[ repair and recon- struction ~:.r sale, pursuant t::t :sections 4 c>r 5 of Article X. At such meeting, thr~ 3>zard °ahali present estimates of repair and reconstruction casts, the: <~-nrunt :~f insurance proceeds available, .the.. prr~jected necessit.;J f`cr, and amount if any, of spcc:ial assessments necessary t:~ cover any deficiency in xnsurarce proceeds, the prc:_iectc:d stale price of the property as is, and pru,jected distributicfr. daf all funds, including insurance i>rooeeds, shuuid the owners choose sale rather t?*an repass and reconstruction. In arriving at such figures to be presen'er:~ t{a the owners, the 3oard Bray employ such experts as deemed advisable. i~fter presentation of ull relevant financial info_matie>n available tc the Board, the owners shall be required to adopt either a plan of repair and reconstruction or a plan of sale. The affirmative vote of owners hr,lding seventy-five percent t~5~) in value of the townc~~mes ir. this Regime snail be necessary ~o approve a plan oz repair and reconstruction. If such percentage affirmati~re vcate is not obtained, the owners holding a maority in =.~alue :stay adopt a plan. of sale binding upon all owners. Any play. so adoptEd roust sui~sequentl,y ~e approved in writing by store than :iffy percent tS4~) in number, of the first most}ogees of record as of the date raf adoption cf the plan, Section: ~. i'lan c>f Rei~air_and :-:eccnstruction -- Damage or Destruct iozi ~~ '~_ _____~_ T_n the event tizat a plan of repair and reconstruction is adopted by the owners and subsequently approved by the first rnortr=ogees, as above set forth, the Soard cf Adminis- trators shall forthwith prrrceed tr, repair and reconstruct the improvements as set forth in ~ecticn 2 of Article X. _ z ~,