Coach 2013 Annual Report Download - page 327

(b) Unit Owner Insurance. Each Unit Owner shall deliver to the other Unit Owners and the Board a certificate of insurance
evidencing the insurance required to be maintained by such Unit Owner under this Article 12 and promptly after issuance of any renewal or replacement
policy, and shall deliver a new certificate of evidencing same, together with proof of payment of premiums.
(c) Certificates of Insurance; Policies. The certificates of insurance required to be obtained by any Person pursuant to this
Section shall be kept at the offices of such Person at the Property or at such other reasonably proximate location(s) in The City of New York. In the event that
any certificate of insurance shall fail to contain detail reasonably sufficient enough to enable the Person(s) who are entitled to a copy of such certificate to
reasonably determine if the insurance covered by such certificate complies with the provisions of this Article 12, then such Person or Persons shall have the
right, upon reasonable notice to the Person maintaining such insurance, to inspect the policy or policies underlying such certificate.
Section 12.6 Waiver of Subrogation. The Board of Managers and each Unit Owner and their Occupants, as hereinafter defined (the
“Releasing Party”) hereby releases and waives for itself, and each Person claiming by, through or under it, each other Unit Owner and the Board and their
respective Occupants (the “Released Party”) from any liability for any loss or damage to all property of such Releasing Party located upon any portion of the
Property, which loss or damage is of the type covered by “All-Risk,” Comprehensive Boiler & Machinery, or other property insurance policies required to be
carried under these By-Laws, irrespective either of any negligence on the part of the Released Party which may have contributed to or caused such loss, or of
the amount of such insurance required or actually carried, including any deductible. The Releasing Party agrees to obtain, if needed, appropriate language in
its policies of insurance, and to the policies of insurance carried by its Occupants, with respect to the foregoing release. As used herein, “ Occupants” shall
mean any Persons from time to time entitled to the use and occupancy of all or any portion of a Unit under any ownership right, a lease, sublease, or similar
agreement.
Section 12.7 Indemnification. Subject to the waiver of claims and waiver of subrogation set forth in this Article 12, and to the fullest extent
permitted by Law, each Unit Owner hereby indemnifies and agrees to defend and hold each other Unit Owner (and such other Unit Owner’s Occupants) and
the Board of Managers and any Sub-Board harmless (except for loss or damage resulting from the gross negligence, willful misconduct or bad faith of any
such other Unit Owners or Sub- Board, or the Board of Managers, (or their respective Occupants), and their respective directors, officers, agents, tenants,
contractors, employees, servants, licensees (collectively, the “ Related Parties”)) from and against any and all claims, actions, suits, judgments, damages,
liabilities and expenses (including, without limitation, reasonable attorneys’ fees) in connection with loss of life, personal injury and/or damage to property
arising from or out of any occurrence in or upon the Unit (or any Exclusive Use Common Element appurtenant to such Unit) owned by such Unit Owner, or
occasioned wholly, or in part, by any gross negligence, willful misconduct or bad faith of such Unit Owner, or its respective Related Parties.
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