Authority of Association to Settle Insurance Claims Sample Clauses

Authority of Association to Settle Insurance Claims. Each co-owner, by ownership of a unit in the Condominium project, shall be deemed to appoint the Association as his/her true and lawful attorney-in-fact to act in connection with all matters concerning the maintenance of "all risk" property coverage, flood, vandalism and malicious mischief, liability insurance, fidelity coverage and workmen's compensation insurance, if applicable, pertinent to the Condominium project and the elements appurtenant thereto, and such insurer as may, from time to time, provide such insurance to the Condominium project. Without limitation on the generality of the foregoing, the Association as said attorney shall have full power and authority to purchase and maintain such insurance, to collect and remit premiums therefore, to collect proceeds and to distribute the same to the Association, the co-owners and their respective mortgagees as their interests appear (subject always to the Condominium documents), to execute release of liability and to execute all documents and to do all things on behalf of such co-owner and the Condominium as shall be necessary or convenient to the accomplishment of the foregoing.
Sample 1
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Authority of Association to Settle Insurance Claims. Each Co-owner shall be deemed to appoint the Association as his true and lawful attorney-in-fact to act in connection with all matters concerning the insurance of the Condominium Project including the adjustment and settlement of any losses or claims that affect the buildings, lands, pro or liability of the Association, the Developer or any other Co-owners to any extent.
Sample 1

Related to Authority of Association to Settle Insurance Claims

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