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I I I I I I I I I I I I I I I I I I I ~letlons, or enforcement thereof, pertainin{ to the'arch- ~tural deeisn or the exterior appearance of the unite, the iriOrmintenance of the tmita, or the maintenance of the Property, recreational f&cilities, road.ays ~d park~ r D~ ' Fail ~o maintain fire and extended coverage on the insurable ' P~r~perty ~tthtn the Common Property on a current replacement ~ cO~t b~sil in an ~oun~ ~ot less t~ one hundred pe~ent (IOOS) : : or,the insurable value (bas~ on current replacement cost). r B~ ~ USe hazard insurance p~eeds ~or losses to ~y of ~he C~n .. of tsuch C~on P~per~. Coven~t ~or Afseaomen~ ~tton X, ~s~eemen[ ~o Pa~ Assessment: Decla~an~ For each unit ~ed b~ ~ ~tn [he ~velo~en[ I~a~ ~d each ~e~ or ~ un~[ b~ [he accep[ance of a [rdee~here~oee~ ~he[her or no~ t~ be as expressed tn fha deed~ a~ll be de~d ~[covenan~ and a~ee ,i~h each other and .t~h the ~ss~ia~ion ~o pay ~o:~e ~ia[ion for the p~poses p~ovlded in ~his Declara[t~ ~ annual aa~e!s~ levied by ~he lan~llti~, and s~tal assessments for c~pi~al o~tt~ ~d ~tnten~co of ~ C~ Pro~r[y ~d to build an adequate ~e!~ve. {und rot ~ln[en~ce. repairs ~d raplac~n~ of those slants C~n P~oper[y t~[ must be ~eplaced ~ a ~rt~lc basis, and such e~rgency r~p~rs ~a the As~ctation ~y de~ n~ess~y. ~; ~ctton' 3. ~sts and ~ of ~nual Assassin[: Until the first ann~al ~ettn8 of the Aos~ti~, the ~ ~nual assessment shall be t500.00. pa; ~H~b~r. The ~a~d or DireC~O~.. ~diately folio, ins each ~nual mac,ins Or ~e i~s~tatton, shall revte~ the lssociatton"s budse[ ~d revise the ~e~e n~easary and rolls.la8 8~h revt~, the ~a~ of Directors shall fix the ~nt o~ the annual assessment ~or ~e foll~i~ fiscal ~e~, tll annual Als~tat~on_. ~y... fr. t~ ~ tim es~bliah.' In fixing the annual assess.nfs, . portion ~f the annual assess~nts as ~ adequate reserve f~d foe replacement