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' ical but not limited to, ordinances relating to shore land management, tree including specifically, preservation, wetland plain, preservation,erosion and sediment control, water quality, flood p in , and buildingcodes, as the same maybeamended from time to time, storm water management, which are hereby ' ' incorporated reference. Additions to structures and facilities shall meet all required principal structure setbacks or setback requirements. SECTION 10 INSURANCE AND RECONSTRUCTION . The Master Association shall obtain and maintain the following ins the Property: • Public liabilityinsurance covering the activities of 10.1GeneraliLiLlity Insurance. the Master Association tion and its Officers, Directors, volunteers or employees in connections � with its maintenanmaintenancemaintenanceobligations. Such public liability policy shall provide such coverage, limitsand deductibles as the Master Board deems reasonable. 10.2 Qer Insurance, Such other types and amounts of insurance as may be r- and to be necessaryor desirable, including without limitation, determined the Mate Officers and Directors liability and insurance or fidelity bonds covering dishonest acts by those Persons having control or custody of the Master Association's funds, Trustee/ Premiums. All insurance coverage maintained 10.3MaOciati0St�t r_ - �...by the Master Board shall be written in the name of, and the proceeds thereof shall be payable to, the Master Association a�ualied insurance trustee selected by it) as trustee for the g benefit of the Owners or Neighborhood Associations, as applicable. The premiums for the insurance shall I be a Common Expense. The Master Board shall exclusive authority to negotiate, settle adjust adust claims under all policies obtained by the Master Association. ce relating to 10.4 Policy Re`rerncnts Insofar as permitted by law, the Master Association shall be required to make every effort to secure insurance policies with the following provisions and endorsements: 10.4.1 All policies shall be written with a company licensed to do business 'State of Minnesota and holding a rating of A-X l or better in such financial �n the F'ifavailable, as established by Bests Insurance Reports,sucha company is or if not available, its equivalent rating or the best rating possible. 10.4.2 All policies shall contain a waiver by the insurer of its right to cancel giving thirtydaysprior written notice ofsuch cancellation to the without first g g Master Association. 24 121110757v8 820716 8/15/05