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6.1. F. - Page 24 Each 4wnei appoints tihe Association or any insurance trustee c�esignated by the Association to act on behalf of the Owners in connect�on with all insurance matters at�isi�g fx•o�n a�y insurance policy maintained by t��e Association, ir�cl�iding witi�aut liinitation, representing th� Owners in any p�•oceedia�g, negotiation, settleme�t, or agreemer►t. Any ins��rance inaintained by the Association shall contain "waiver of s€�brogation" as to ihe Association and its office�s and Members, the �wners and occupants of` the Lots (i��cluding Declarant) and mot�tga�ees, and, if obtainable, a cross-liability o� severability of interest endo�•sement i�suring each insured against liability to each othet' i��s�tred. The Associatiar� shall periodically (and nat less than onee eveiy three (3) yea��s) review all insttrance policies maintained by the Association to dete��rnine the adequacy of the co�erage and ta adjus� tl�e policies accordingly. All individually owned insucance shall contai�� a waiv�t' of sub�•ogation as to the A�sociation and its officers and Members, the Orvners and occupants of the Lots (incIuding Declarant) and za��rt�agees. Each buyer of a Lot shall pay the poz�tion of the pr�mium(s) attrib�itable to the buyei's Lot (prorated to the date of close of esc��ow) for the policy ar policies purchased by Declarant for the Association, if any. D. Dafnage or Destruction: If Project imp�•ovements are damaged or destroyed by �re or othet• casitalty, the iznpro�e�nents shall be repaired or reconst�ucted subs�antially in accordance with the original as-built pIans and specifications, modified as may be requit•ed by applicable building codes and regulations ir� force at the time of si�ch repair or reconstruction and subject to such alterations or upg�•ades as may be approved by the Boacd, unless the cost of repair or reconstt•uction is mare than fifry percent (SD%) of the ct�rrent replaceinent costs �f all Project irnp�•ovements, available insurance proceeds are not s��fficient to pay for at least eighty-five perce��t (S5%} of tlie cost of such repaics or r�constr�iction, and seventy-five pe�cent (75%) of all Owners a��d first Moa�tgage Lenders vote against such repai�• and reconstruetion. The repair oz• reconstruction sljall commence no later than ninety (90) days after the date of such daznage or destrt�ction and shall be completed no later thaE� ane hundred eighty (180) days af�er comtnencement of reconstructian, subject to delays that a�•e beyond the cantrol of the pa�•ty responsible for malcing the �•epairs. The Owner of the daEnaged ar destcoyed iinprave�ent immediately shall ta�ce s�ch steps as tnay be reasonably ��ecessary to secure any hazardous condition and to screen any unsightly views resulting ft'am the damag� or destruction. b.8 Condeina�ation: It� tl�e event of a talcing by eminent domaia� of any pai�t of the Common Area, the proceeds of condemnation si�all be allacated between the �wne�•s of Lots, and theiz' respective mo��tgages in respect ta the fair marIcet values of t�eir Lots as determined by a qualified independent appraiser selected by tl�e Owners. 6.9 Limitations of Rest�ictions on Declarant: Declarant is undertalcing th� worlc of coi�structio�i of residential hoines and incidental improveznents upon the subject Property. The ATTY/AGIt/201 i,133 DECF..AItA'1'ION OF CCRs--RF,hi'I'FIELI3 T2�V:12/01/11 -15-