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6. 1. B. - Page 93 subdivisions or categories thereof and the respective amounts paid or due to each of those persons in respect of such services and stating the progress of the work up to the date of the certificate; (3) that the sum then requested to be disbursed plus all sums previously disbursed does not exceed the cost of the work insofar as actually accomplished up to the date of such certificate; (4) that no part of the cost of the repair or reconstruction has been or is being made the basis for the disbursement of any funds in any previous or then pending application; (5) that the amount held by the Depository, after payment of the amount requested in the pending disbursement request, will be sufficient to pay in full the costs necessary to complete the repair or reconstruction; and, (6) that mechanics' lien releases have been obtained from those eligible to file lien claims. If the cost of repair or reconstruction is less than twenty -five percent (25 %) of the current replacement cost of all the Project improvements, the Board shall disburse the available funds for the repair and reconstruction under such procedures as the Board deems appropriate under the circumstances. The repair or reconstruction shall commence as soon as reasonably practicable after the date of such damage or destruction and shall be completed as quickly as is reasonably practicable after commencement of reconstruction, subject to delays that are beyond the control of the party responsible for making the repairs. The Owner of the damaged or destroyed improvement (and the Board, in the case of damage to the Common Area) immediately shall take such steps as may be reasonably necessary to secure any hazardous condition and to screen any unsightlyviews resulting from the damage or destruction. In the event the work required to repair or restore damage ordestruction involves work that is the responsibility of Owner and the Association as provided in Sections 7.21 and 5.1.A, then all of such work shall be directed by the Board, with the expense to be allocated between Owner and the Association pursuant to Sections 7.21 and 5.1.A. If more than one Owner is involved, the expense to be paid by each Owner shall be apportioned by the Board. If the Association is involved in a dispute over the apportionment of such expenses, then the dispute shall be settled by arbitration pursuant to Section 9.1. If the Association undertakes any work which Section 7.21 requires an Owner to undertake, or any work which the Association is required to undertake at the expense of the Owner, the Board shall assess the Condominium of the Owner for such work and shall so inform the Owner thereof in writing; provided, however, that the Assessment shall be reduced by the amount of any insurance proceeds paid to the Association as a result of damage to or destruction of the Unit or the Condominium involved. Such Assessment shall be alien upon the Condominium of the Owner and may be foreclosed, as set forth in Section 4.9. C. Process If Repair or Reconstruction Not Undertaken: If the improvements are not required to be repaired or reconstructed in accordance with the foregoing, all available insurance proceeds shall be disbursed among the Owners of the damaged Units and their respective Mortgagees in proportion to the respective fair market values of their Condominiums as of the date immediately preceding the date of damage or destruction as determined by a qualified 49 03/06/12 TAVOWIN60TROJECTS033 MAIN STREETIDEC - DRAFTING FORM[7][03 06 12].doc