| Hidden Lake Estates P r o p e r t y O w n e r s A s s o c i a t i o n Hawley, Pennsylvania |
XI. MANAGEMENT
Responsibility for the maintenance, repair, replacement, restoration, improvement, operation and
administration of the Development shall be vested in the Association. The Association shall act as the
agent of all of the Owners in collecting Assessments and applicable charges and paying taxes; utility
costs and any other Common. Expenses. The Association, through its Board of Directors, Officers, the
Manager and other duly authorized agent(s) may exercise any and all rights and powers granted to it by
law or by this Declaration, the By-Laws or Rules and Regulations, as they may be amended from time to
time.
XII. INSURANCE
The Association shall, to the extent available, obtain and maintain in force the following policies of
insurance:
12.1 Type of Coverage.
Fire and all risk extended coverage insurance on all Improvements from time to time owned by or leased
to the Association and located upon or within any Common Area, together with such other insurance as
the Association deems necessary in and for the interest of the Association, with an insurance company
authorized to do business in Pennsylvania, in any amount as near as practicable to the full replacement
cost thereof without deduction, or depreciation, in the name of the Association as trustee for all Owners
and for all Mortgagees of the Common Areas and payable in case of loss to such bank or trust company
authorized to do business in Pennsylvania as the Board of Directors of the Association shall designate
for the custody and disposition as herein provided of all proceeds of such insurance. In every case of
loss or damage, all insurance proceeds shall be used as soon as reasonably possible by the
Association for rebuilding, repairing, or otherwise reinstating the same buildings in a good and
substantial manner according to the original plans and elevation thereof or such modified plans
conforming to laws and ordinances then in effect as shall be first approved by the Architectural Control
Committee as herein provided. The Association shall make up any deficiency in such insurance
proceeds. Every such policy of insurance shall, to the extent such insurance is available:
(a) Provide that the liability of the insurer thereunder shall not be affected by and that the insurer shall
not claim any right of set-off, counterclaim, apportionment, proration, or contribution by reason of any
other insurance obtained by or for any Owner;
(b) Contain no provision relieving the insurer from liability for loss occurring while the hazard to such
buildings is increased, whether or not within the knowledge or control of said Board, or cause any
breach of warranty or condition or any other (cont'd)
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BOOK 0836 PAGE 0125
Responsibility for the maintenance, repair, replacement, restoration, improvement, operation and
administration of the Development shall be vested in the Association. The Association shall act as the
agent of all of the Owners in collecting Assessments and applicable charges and paying taxes; utility
costs and any other Common. Expenses. The Association, through its Board of Directors, Officers, the
Manager and other duly authorized agent(s) may exercise any and all rights and powers granted to it by
law or by this Declaration, the By-Laws or Rules and Regulations, as they may be amended from time to
time.
XII. INSURANCE
The Association shall, to the extent available, obtain and maintain in force the following policies of
insurance:
12.1 Type of Coverage.
Fire and all risk extended coverage insurance on all Improvements from time to time owned by or leased
to the Association and located upon or within any Common Area, together with such other insurance as
the Association deems necessary in and for the interest of the Association, with an insurance company
authorized to do business in Pennsylvania, in any amount as near as practicable to the full replacement
cost thereof without deduction, or depreciation, in the name of the Association as trustee for all Owners
and for all Mortgagees of the Common Areas and payable in case of loss to such bank or trust company
authorized to do business in Pennsylvania as the Board of Directors of the Association shall designate
for the custody and disposition as herein provided of all proceeds of such insurance. In every case of
loss or damage, all insurance proceeds shall be used as soon as reasonably possible by the
Association for rebuilding, repairing, or otherwise reinstating the same buildings in a good and
substantial manner according to the original plans and elevation thereof or such modified plans
conforming to laws and ordinances then in effect as shall be first approved by the Architectural Control
Committee as herein provided. The Association shall make up any deficiency in such insurance
proceeds. Every such policy of insurance shall, to the extent such insurance is available:
(a) Provide that the liability of the insurer thereunder shall not be affected by and that the insurer shall
not claim any right of set-off, counterclaim, apportionment, proration, or contribution by reason of any
other insurance obtained by or for any Owner;
(b) Contain no provision relieving the insurer from liability for loss occurring while the hazard to such
buildings is increased, whether or not within the knowledge or control of said Board, or cause any
breach of warranty or condition or any other (cont'd)
-29-
BOOK 0836 PAGE 0125