Coach 2013 Annual Report Download - page 325

(b) If the use of all or any portion of any Unit causes an increase in the premium for the insurance which the Board of
Managers or any Unit Owner is required to obtain and maintain as set forth herein or otherwise, then the owner of the Unit causing such increase shall be
obligated to pay to the Board of Managers, as an additional Common Charge, or to pay to such other Unit Owner, as the case may be, a sum equal to the
amount of such increase attributable to such use.
Section 12.4 General Insurance Matters.
(a) Self-Insurance. Notwithstanding anything in these By-Laws to the contrary, no Person (other than the Declarant, as
provided in Section 12.2(f) hereof) may provide the insurance coverages required under these By-Laws pursuant to any plan of self-insurance.
(b) Blanket Policy. The insurance coverage required of any Person, including the Board of Managers, under this Article
12, at the option of such Person, may be offered under a blanket policy or policies, provided that any such blanket policy shall otherwise comply with the
provisions of these By-Laws. With respect to blanket property polices covering the applicable property to be insured pursuant to these By-Laws (the “ Insured
Property”) and other properties and assets not constituting a part of such Insured Property, such blanket policies shall be without possibility of co-insurance
or reduction below the limits required by this Article 12 by reason of, or damage to, any other property (real or personal) named therein. If the insurance
required by these By-Laws shall be effected by any such blanket policy, such Person shall furnish to the Person or Persons specified in Section 12.5 hereof
(when and as such deliveries would be required for the insurance regularly required by these By-Laws not constituting blanket coverage) valid certificates of
insurance evidencing such policy, with schedules thereto attached (with respect to property or building insurance) showing the amount of insurance afforded
by such policies applicable to the Insured Property.
(c) Policy Requirements. All policies required to be obtained pursuant to these By-Laws shall:
(i) be purchased from and maintained with companies authorized to do business in the State of New York, which
are rated at the time of purchase or renewal of such policy in the then most current A.M. Best Key Rating Guide with ratings of A-/IX or better (or the
equivalent of such rating if there is a change in the basis of the rating, or any successor publication of comparable standing);
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