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 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 Wyndham Park Declaration Page 9 (e) Unless otherwise determined by the Board, shall contain a waiver of subrogation of rights by the carrier as to the Association, its officers and Trustees, and all Lot Owners. Section 2. Liability Insurance. The Association shall obtain and maintain a comprehensive policy of general liability insurance with regard to any property within its control, insuring the Association, the Trustees, and the Lot Owners and Occupants, with such limits as the Board may determine, but no less than the greater of (a) the amounts generally required by private institutional mortgage investors for projects similar in construction, location and use, and (b) $1,000,000 for bodily injury, including deaths of persons, and property damage, arising out of a single occurrence. This insurance shall contain a “severability of interest” endorsement which shall preclude the insurer from denying the claim of a Lot Owner because of negligent acts of the Association, the Board, or other Lot Owners and shall include, without limitation, coverage for legal liability of the insured for property damage, bodily injuries and deaths of persons in connections with the operation, maintenance or use of any Common Areas owned by the Association, and legal liability arising out of lawsuits related to employment contracts of the Association. Each such policy must provide that it may not be canceled or substantially modified by any party, without at least ten (10) days' prior written notice to the Association and to each eligible holder of a first mortgage on a Lot. Section 3. Other Association Insurance. In addition, the Board may, in its sole discretion, purchase and maintain contractual liability insurance, trustees' and officers' liability insurance, and such other insurance as the Board may determine. ARTICLE VI. GRANTS AND RESERVATIONS OF RIGHTS AND EASEMENTS Section 1. Right of Entry for Repair, Maintenance and Restoration. The Association shall have a right of entry and access to, over, upon and through all of the Lots to enable the Association to perform its obligations, rights and duties pursuant hereto with regard to maintenance, repair, and replacement of any property owned by the Association and with regard to lawn maintenance. Section 2. Easements for Utilities. There is hereby created upon, over and under all of the Lots, easements to the Association for ingress and egress to the Lots, and for the installation, replacing, repairing and maintaining of all utility lines and equipment thereon and any and all construction work necessary in connection therewith. It shall be expressly permissible for the Association to grant to the providing company permission to construct and maintain the necessary poles and equipment, wires, circuits and conduits on, above, across and under the Lots so long as such poles, equipment, wires, circuits and conduits do not unreasonably interfere with the use and enjoyment of the Lots. Should any utility company furnishing a service request a specific easement by separate recordable document, the Board shall have the right to grant such easement without conflicting with the terms hereof. Section 3. Power of Attorney. Each Lot Owner, by acceptance of a deed to a Lot, hereby irrevocably appoints the President of the Association, as his, her or its attorney-in-fact, to execute, deliver, acknowledge and record, for and in the name of such Lot Owner, such deed of easement and other instruments as may be necessary or desirable, in the sole discretion of the Board, to further establish or effectuate the foregoing easements. This power is for the benefit of each and every Lot Owner, this Association, and the real estate to which it is applicable, runs with the land, is coupled with an interest, and is irrevocable.
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