|
<br />C. SUBJECT TO THE PROVISIONS OF PARAGRAPH D. BELOW, EACH OWNER
<br />("INDEMNITOR") COVENANTS TO INDEMNIFY, DEFEND AND HOLD HARMLESS THE DEVELOPER,
<br />BOARD AND EACH OTHER OWNER ("INDEMNITEE") FROM AND AGAINST ALL CLAIMS, COSTS,
<br />EXPENSES AND LIABILITIES (INCLUDING REASONABLE ATTORNEYS' FEES) INCURRED IN
<br />CONNECTION WITH (I) ALL DAMAGES AND CLAIMS, INCLUDING ANY ACTION OR PROCEEDING
<br />BROUGHT, ARISING FROM OR AS A RESULT OF THE DEATH OR INJURY OF ANY PERSON, OR
<br />DAMAGE TO THE PROPERTY OF ANY PERSON OR ENTITY, WHICH SHALL OCCUR ON THE
<br />TRACT OWNED BY EACH INDEMNITOR, EXCEPT FOR CLAIMS CAUSED BY THE GROSS
<br />NEGLIGENCE OR WILLFUL ACT OR OMISSION OF THE INDEMNITEE, ITS LICENSEES,
<br />CONCESSIONAIRES, AGENTS, SERVANTS OR EMPLOYEES, OR THE AGENTS, SERVANTS OR
<br />EMPLOYEES OF ANY LICENSEE OR CONCESSIONAIRE WHEREVER THE SAME MAY OCCUR;
<br />AND (I1)ALL DAMAGES AND CLAIMS ARISING FROM ORASARESULTOFTHE DEATH OR INJURY
<br />OF ANY PERSON, OR DAMAGE TO THE PROPERTY OF ANY PERSON OR ENTITY WHICH OCCUR
<br />ON ANOTHER OWNER'S PROPERTY AS A RESULT OF THE NEGLIGENT OR WILLFUL ACTS OR
<br />OMISSIONS OF THE INDEMNITOR.
<br />
<br />D. Notwithstanding anything contained in this Declaration to the contrary, each Owner
<br />("Injured Owner") hereby waives any and all rights of recovery, claims, actions or cause of actions against
<br />another Owner, Developer and the Association and such other Owner's, Developer's and the
<br />Association's agents, servants, partners, shareholders, directors, trustees, officers or employees
<br />(collectively, the "Injuring Owner") for any loss or damage that may occur upon the Injured Owner's
<br />property or to any personal property of such Injured Owner by reason of fire, the elements or any other
<br />cause which is insured against (or could be insured against) by the terms of policies maintained by the
<br />Injured Owner or policies required to be maintained by Injured Owner pursuant to the terms of this
<br />Declaration, including the negligence of the Injuring Owner, its agents, officers, partners, shareholders,
<br />directors, trustees, servants or employees and no insurer shall have any right of subrogation or
<br />assignment against such Injuring Owner.
<br />
<br />E. The insurance coverages described in Paragraphs A. and B. above may be carried under
<br />a policy or policies covering other liabilities, properties and locations of an Owner of the Tract subject to
<br />this Declaration or a subsidiary or affiliate or controlling corporation of such Owner. Each insurance policy
<br />or policies shall contain a provision that such policy may not be cancelled without a thirty (30) day written
<br />prior notice by the insurer to Developer and the Association.
<br />
<br />F. In the event of a casualty loss to any Improvements, the affected Owner shall either
<br />(i) within a commercially reasonable time, not to exceed ninety (90) days after the occurrence of the
<br />casualty loss, commence to repair all exterior and structural portions of such Improvements to the
<br />condition which existed immediately prior to such damage or destruction or to such other condition
<br />approved by the Board, and complete the repair or restoration within one hundred eighty (180) days after
<br />the occurrence of the casualty loss, subject to Force Majeure delays or (ii) within a commercially
<br />reasonable time, not to exceed ninety (90) days after the occurrence of the casualty loss, demolish and
<br />remove its damaged Improvements leaving a graded and landscaped and/or seeded area. In the event of
<br />any such casualty loss or destruction, each Owner shall as soon as possible repair any common utility
<br />lines located upon its Tract which service another Owner's Tract. Any Owner that does not elect to repair
<br />or reconstruct after a casualty loss shall be entitled to retain all its insurance proceeds in connection with
<br />such casualty loss provided that such Owner demolishes and removes the damaged Improvements;
<br />otherwise, the insurance proceeds to cover the costs and expenses of demolishing and removing all
<br />damaged Improvements on its Tract shall belong to and be paid to the Association.
<br />
<br />H-Final Version of Declaration of Protective Covenants and Easements(620880_ 4).DOC 9
<br />
|