Common use of MANAGEMENT, TAXES AND INSURANCE Clause in Contracts

MANAGEMENT, TAXES AND INSURANCE. The Corporation shall provide necessary management, operation and administration of the Property; pay or provide for the payment of all taxes or assessments levied against the Property; procure and pay or provide for the payment of fire insurance and extended coverage, and other insurance as required by any mortgage on the property, and such other insurance as the corporation may deem advisable on the property. The Corporation will not, however, provide insurance on the Member’s interest in the dwelling unit or on his personal property.

MANAGEMENT, TAXES AND INSURANCE. The Corporation shall provide for necessary management, operation and administration of the Property; Corporation, shall pay or provide for the payment of all taxes or assessments levied against the Property; Corporation, shall procure and pay pay, or provide for the payment of fire of, all replacement insurance and extended coverage, and all other insurance as required by any mortgage on the property, and such other insurance as Corporation or otherwise deemed advisable by the corporation may deem advisable on the propertyCorporation. The Corporation will not, howeverunder any circumstances, provide insurance on the any personal property of any Member’s interest in the dwelling unit , or on his personal propertyany room additions or patio enclosures.