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- 21 - <br />maintain insurance covering the Property as follows: <br />a. A comprehensive policy of public liability insurance <br />covering all of the Property insuring the Association <br />with limits acceptable to the Association covering all <br />claims for personal injury and/or property damage <br />arising out of a single occurrence such coverage to <br />include protection against water damage liability, <br />liability for non -owned and hired automobile, liability <br />for property of others, and, if applicable, garage - <br />keeper's liability, host liquor liability, and such <br />other risks as are customarily covered in similar <br />projects or as may be required by FNMA as a financing <br />condition. Such policy shall provide that it may not be <br />cancelled or substantially modified without at least <br />ten (10) days prior written notice to the Association. <br />b. Adequate fideltiy coverage against dishonest acts by the <br />Association's officers, directors, trustees and <br />employees, and all others who are responsible for <br />handling funds of the Association. Such fidelity bonds <br />shall name the Association as an obligee and shall be <br />written in an amount acceptable to the Association, <br />including reserves, unless a greater amount is required <br />by FNMA. Such fidelity bonds shall contain waivers of <br />any defense based on the exclusion of persons who serve <br />without compensation from any definition of "employee" <br />or similar expressions. <br />C. Such other insurance as the Board of Directors may deem <br />necessary or desirable. <br />d. The Owners of the adjacent Lots shall be primarily <br />liable for all personal injury and/or property damage <br />arising out of the use and/or maintenance of the Common <br />Driveway which is located on their respective Lots. <br />Said two Lot Owners shall keep their premises insured <br />with public liability insurance in an amount set by the <br />Association and/or standard homeowners insurance <br />insuring themselves for any personal injury and/or <br />property damage arising out of the use and/or <br />maintenance of their Common Driveway. The said <br />insurance policy(s) shall name the Association as an <br />additional insured. In addition, the Lot Owners will <br />indemnify and hold harmless the Association, from any <br />and all causes of action claims and/or liability which <br />may arise out of the use and/or maintenance of said <br />Common Driveways. The insurance required by this <br />paragraph d. shall be purchased and paid for at the <br />expense of each individual Owner, and shall not be an <br />Association expense. <br />