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DSCC-57520\2494968.2 19 September 17, 2021 imposes any duty on the Association, its directors, officers or agents (including the manager) to confirm or otherwise verify that the Owners are carrying the recommended insurance. No Owner shall separately insure any property covered by the Association’s property insurance policy as described in Section 7.3 below. If any Owner violates this provision and, as a result, there is a diminution in insurance proceeds otherwise payable to the Association, the Owner will be liable to the Association to the extent of the diminution. The Association may levy a reimbursement assessment against the Owner’s Condominium to collect the amount of the diminution. Each Owner is strongly advised to seek the advice of a qualified insurance consultant regarding the Owner’s property and liability insurance obligations under this Section 7.1 and regarding loss assessment insurance coverage. In addition, Owners (particularly subsequent Owners) should determine whether the Owner should acquire additional insurance coverage if a Solar Energy System has been installed. 7.2 Association Liability Insurance. The Association shall obtain and maintain the following liability policies: 7.2.1 General Liability Policy. A general liability insurance policy insuring the Association, any manager, the Association’s directors and officers, and the Owners against bodily injury or property damage from an accident or occurrence within the Common Area or as a result of any act or omission of the performance or nonperformance of the Association’s duties as set forth herein. The Association shall be the first named insured under the policy. Subject to the terms and conditions of the policy, the policy also shall cover bodily injury or property damage from an accident or occurrence within any Condominium as a result of any act or omission of an agent of the Association in the performance of the Association’s duties under this Declaration. The policy shall include, if obtainable, cross liability or severability of interest coverage. The limits of such insurance (including the commercial general liability and any excess liability coverage) shall not be less than the general liability requirements set forth in Civil Code section 6840 or any successor statute thereto covering all claims for bodily injury and property damage arising out of a single occurrence. The coverage may be a combination of primary and excess policies. The insurance shall contain coverage terms equivalent to or better than the terms provided by Insurance Services Offices (“ISO”) form CG001 or any successor form thereto. Such insurance shall include coverage against liability for owned, non-owned and hired automobiles and other liability or risk customarily covered with respect to projects similar in construction, location and use. The policy shall be primary and noncontributing with any other liability policy covering the same liability. Any notice of cancellation or material changes to the policy shall be provided by the issuing insurance company in accordance with the notice requirements in the policy. If cancelled, the Association shall replace the policy with a substantially equivalent policy. 7.2.2 Directors and Officers Liability Policy. A directors and officers liability policy containing such terms and conditions as are normally and customarily carried for directors and officers of a commercial common interest development. 7.2.3 Crime Insurance. A blanket commercial crime insurance policy covering the Association, any organization or Person who either handles or administers or is responsible for Association funds, whether or not any Person receives compensation for services. 7.3 Association’s Property Insurance. The Association shall obtain and maintain a master property insurance policy that satisfies each of the following conditions. The Association shall also obtain and maintain appropriate coverages typically provided for the benefit of Mortgagees or lenders. 7.3.1 Property Covered. The policy shall cover the following real and personal property: (i) Common Area. All Common Area Improvements, including the building and any Exclusive Use Common Area maintained by the Association; all fixtures, machinery and equipment