04 - Staff Report - Conditional Use Permit Wilderness Resort Villas

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the trustee shall be empowered to pay a reasonable fee for the services rendered by the title insurance company, and the trustee may collect such charge from the Owner or Owners, as the case may be, and in the same manner as that provided for in Article X with respect to townhouse exterior maintenance assessments. (iv) In the event a contract is entered into pursuant to Paragraph (b) above, the written consent of the Owner to such payment or payments. (e) Nothing contained in this Section 6 shall be construed to make the Association or its Board of Directors, or the First Mortgagee or Mortgagees of record, if any, responsible for collection or non-collection of any insurance proceeds; said Association or Board of Directors or First Mortgagees being responsible solely for the insurance proceeds which come into their hands, the Owner of each Unit damaged or destroyed by causes referred to dove shall collect or cause to be collected from the insurance carrier involved, the proceeds of toe policy covering his or her Unit for the use of the trustee as hereinabove provided. (f) In the event that a remodeling or recolplo4ction contract is, r any reason, not entered into pursuant to the provisions of Paragraph (b) i (c) ab+ e, within 0 days after deposit of insurance proceeds with the title insurance company"' a damaged or destroyed Unit, as herein provided, said title insurance company shall< burse saidoceeds in the following order of priority (i) To the Association for* sole se of restoration of any exterior surface t� a,. caused to be exposed to thhe m6&%I and to be restored in accordance with `., Article VII, [6 3)h ` (ii) To each; rtgag y af%ded Lot or Unit as its interest appears to retire the indebt recur` uder its mortgage; and (iii) 'die remaho g d ►sit, if any to the Owner or Owners of the destroyed Unit(s) � . as their intei?iis may appear- Section 7. MWy6 60 Subr '� 'on. To the extent permitted by the standard Minnesota form of fire and extended coveragece with all risk endorsements and to the extent benefits are paid under such a policy, each Owner of a Unit and the Association do hereby mutually release each from the other, and their respective officers, agents, employees and invitees, from all claims for damage or destruction of their respective physical properties if such damage or destruction results from one or more of the perils covered by the standard Minnesota form of fire and extended coverage. Section 8. Annual Review of Policies. All insurance policies shall be reviewed at least annually by the Board of Directors in order to ascertain whether the coverage contained in the policies is sufficient to make any necessary repairs or replacements of any property in Wilderness Resort Villas. 16