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7.1.L. - Page 90 <br /> 8.1.2 Owner's Liability Policy. Each Owner at all times shall procure and maintain either as <br /> part of the property insurance policy under Section 8.1.1 or as a separate policy, a liability policy in an <br /> amount not less than $500,000 providing coverage against any liability for bodily injury or property damage <br /> within the Unit or Association Property caused by any act or omission of the Owner or Occupant or their <br /> Permittees Owners are advised also to procure loss assessment coverage in such amounts as may be <br /> recommended by the Owner's insurance consultant. <br /> 8.2 Association's Liability Insurance. The Association shall obtain and maintain the following <br /> liability policies: <br /> 8.2.1 Commercial General Liability Policy: A Commercial General Liability insurance policy <br /> insuring the Association,any manager,the Association's directors and officers,and the Owners against bodily <br /> injury or property damage from any accident or occurrence within the Common Area. The Association shall <br /> be the first named insured under the policy. Subject to the terms and conditions of the policy,the policy also <br /> shall cover bodily injury or property damage from an accident or occurrence within any Condominium as a <br /> result of any act or omission of an agent of the Association in the performance of the Association's duties <br /> under this Declaration. The policy shall include, if obtainable, cross liability or severability of interest <br /> coverage. The limits of such insurance (including the commercial general liability and any excess liability <br /> coverage)shall not be less than the general liability requirements set forth in Civil Code section 5805 or any <br /> successor statute thereto covering all claims for bodily injury and property damage arising out of a single <br /> occurrence. The coverage may be a combination of primary and excess policies. The insurance shall <br /> contain coverage terms equivalent to or better than the terms provided by Insurance Services Offices("ISO") <br /> form CG001 or any successor form thereto. Such insurance shall include coverage against liability for owned, <br /> non-owned and hired automobiles and other liability or risk customarily covered with respect to projects <br /> similar in construction, location and use and shall require at least 30 days'written notice to the Association <br /> before the policy can be cancelled or substantially modified unless the policy is being replaced with a policy of <br /> equivalent coverage. The policy shall be primary and noncontributing with any other liability policy covering <br /> the same liability. <br /> 8.2.2 Directors and Officers Liability Policy: A directors and officers liability policy <br /> containing such terms and conditions as are normally and customarily carried for directors and officers of a <br /> residential common interest development and in sufficient amounts to satisfy the insurance requirements of <br /> Civil Code sections 5800 or any successor statute thereto. <br /> 8.3 Association Property Insurance. The Association shall obtain and maintain a master property <br /> insurance policy that satisfies each of the following conditions: <br /> 8.3.1 Property Covered. All Common Area Improvements, including the garage; all <br /> fixtures, machinery and equipment permanently affixed to the garage except the building within the Units; <br /> monuments; lighting fixtures situated outside the Units;exterior signs; personal property owned or maintained <br /> by the Association; lawn, trees, shrubs and plants located in within the Association Property; but excluding <br /> land, excavations and other items typically excluded from property insurance coverage; <br /> 8.3.2 Covered Cause of Loss. The policy shall provide coverage for property insurance, <br /> insuring against the risks of direct physical loss,as insured under Insurance Services Office Causes of Loss— <br /> Special Form (CP 1030)or its equivalent. <br /> 8.3.3 Dollar Limit. The dollar limit of the policy shall not be less than the full insurable <br /> replacement value of the covered property described in Section 8.2.1 above based in insurance industry <br /> standards for determination of replacement costs, provided that there may be lower dollar limits for specified <br /> items as is customarily provided in property insurance policies. <br /> 8.3.4 Primary. The policy shall be primary and noncontributing with any other insurance <br /> policy covering the same loss. <br /> CLSS\51643\927586.5 36 June 16,2014 <br />