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DSCC-57520\2494968.2 20 September 17, 2021 permanently affixed to the building situated outside of the Units (excluding any Solar Energy Systems); windows; fences; monuments; lighting fixtures situated outside the Units wired to a common meter; exterior signs; and personal property owned or maintained by the Association; but excluding land; excavations; Solar Energy Systems, and other items typically excluded from property insurance coverage and excluding signage exclusively serving any of the Condominiums; and (ii) Units. The building structural components situated within the Unit, including load bearing walls; columns; shafts and beams; roof; foundation; exterior windows and doors; the building’s life safety system Improvements; any utility Improvements that serve more than one Condominium; and directional and safety signage. All other fixtures, furnishings, equipment and personal property located within the Unit are to be insured by the Owner as described in Section 7.1.In addition, an Owner may add additional Improvements, such as tenant Improvements, to the Improvements covered under the Association policy with Approval by the Owners. 7.3.2 Covered Cause of Loss. The policy shall provide coverage for property insurance, insuring against the risks of direct physical loss, as insured under Insurance Services Office Causes of Loss – Special Form (CP 1030) or its equivalent. 7.3.3 Dollar Limit. The dollar limit of the policy shall not be less than the full insurable replacement value of the covered property described in Section 7.3.1 above based in insurance industry standards for determination of replacement costs, provided that there may be lower dollar limits for specified items as is customarily provided in property insurance policies. 7.3.4 Primary. The policy shall be primary and noncontributing with any other insurance policy covering the same loss. 7.3.5 Endorsements. The policy shall contain such endorsements as the Association in its discretion shall elect after consultation with a qualified insurance consultant. 7.3.6 Waiver of Subrogation. The Association waives all subrogation rights against any Owner or Occupant and their family members and invitees except to the extent of any deductible. The policy shall include an acknowledgment of the Association’s right to waive all subrogation rights against the Owner. 7.3.7 Deductible. Except as otherwise provided by the Association in writing, when a claim is made on the Association’s property insurance policy, an Owner is responsible for payment of the deductible in circumstances: (i) where damage is caused by the fault of the Owner or the Owner’s Occupants or their Permittees; and/or (ii) where damage is caused primarily by the failure of an Improvement within the Unit that the Owner is responsible for maintaining. If neither of the foregoing applies as determined by the Association, the Association shall pay the deductible. The Association may levy a reimbursement assessment against an Owner’s Condominium as authorized under Section 6.5 to collect the deductible from the Owner as authorized herein. 7.4 Insurance Rating and Cancellation. The insurance company providing the Association’s insurance under Sections 7.1 and 7.3 shall have an A.M. Best rating of not less than A:VII if licensed to do business in the State of California and a rating of not less than A:X if not licensed to do business in the State of California, provided that if the Association determines that insurance from insurance companies with the required ratings is not available at commercially reasonable rates, the Association may reduce the rating requirements after consultation with a qualified insurance consultant. If the A.M. Best ratings are no longer available, the insurance ratings shall be based on equivalent ratings issued by an independent insurer company rating entity used by financial institutions for insurance rating purposes. 7.5 Association’s Authority to Revise Insurance Coverage. Subject to the provisions of Section 7.7, the Association shall have the power and right to deviate from the insurance requirements contained in this Article 7 in any manner that the Association, in its discretion, considers to be in its best