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10.7 Lien Rights. As soon as any expenses for repair and maintenance of a <br /> party wall are known, each Owner agrees to make the necessary payments due as <br /> soon as reasonably possible. If an Owner fails to make any payment which is due or is <br /> necessary to avoid a payment to any contractor, supplier or creditor becoming <br /> delinquent, the other Owner shall have the right to make such payment and upon <br /> making such payment, such payment shall be deemed to be due and owing from the <br /> defaulting Owner and the nondefaulting Owner shall have the right to file a lien against <br /> the defaulting Owner's Unit together with interest at the judgment rate as that rate is <br /> established from time to time. To evidence such lien, the non-defaulting Owner may <br /> prepare a written notice of lien, setting forth the amount due together with the interest, <br /> which notice shall be filed against the defaulting Owner's Parcel in the office of the Crow <br /> Wing County Recorder. This lien shall be superior to all other liens and encumbrances <br /> except liens for general real estate taxes and assessments and the lien of any first <br /> mortgage. Such lien can be enforced and foreclosed by an action in the same manner <br /> in which mechanic's liens can be enforced and foreclosed under the laws of the State of <br /> Minnesota and in such action the defaulting Owner shall be liable for all costs of such <br /> action including attorneys' fees. <br /> SECTION 11 <br /> INSURANCE <br /> 11.1 Required Coverage. Section 515B.3-113 of the Act requires the <br /> Association to maintain casualty insurance coverage on the common elements and <br /> units. The same section also requires general liability coverage, authorizes the <br /> Association to carry any other insurance it considers appropriate, specifies minimum <br /> notice from an insurer prior to cancellation, specifies other provisions for such <br /> insurance, requires the Association or an insurance trustee to adjust all losses, and <br /> describes the Association's duty with respect to repair or rebuilding after casualty to <br /> common elements or units. The provisions of the Act described in this paragraph may <br /> not be varied or waived, but are hereby supplemented, as follows: <br /> a. The Association shall carry workers' compensation insurance whenever it <br /> has eligible employees. <br /> b. The Association may carry fidelity insurance and shall do so whenever <br /> required by a holder, insurer or guarantor of a mortgage. <br /> C. The Association may enter into binding agreements with one or more <br /> holders, insurers or guarantors of mortgages obligating the Association to <br /> keep specified coverages in effect for specified periods and to notify a <br /> holder, insurer or guarantor of any changes to coverage. <br /> 11.2 Premiums, Improvements; Deductibles. All insurance premiums shall be <br /> assessed and paid as annual Assessments, and allocated among the Units as <br /> determined by the Board consistent with the Governing Documents. The insurance will <br /> not cover unauthorized improvements and/or betterments to the Units installed by <br /> Owners, but if improvements and betterments are covered, any increased cost may be <br /> 18 <br />