135 Lindbergh Place Drive | Documents

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Approved by the Board on March 2, 2021 THE VILLAS AT LINDBERGH PLACE HOMEOWNERS ASSOCIATION Rules and Regulations for Tracking and Enforcing Owner Compliance with Insurance Requirements Purpose: To track and enforce Owner compliance with the provisions of Article XI, Insurance: Damage or Destruction, of the Indenture of Trust and Restrictions (Indenture), and support enforcement of those provisions in accordance with Indenture Article VI, Association’s Duties and Power, Section 10, relating to enforcement. Tracking: 1. The Community Association Manager (CAM) shall develop, maintain and update a system of tracking Owner compliance with Article XI. The system shall indicate the following: a. Owner name and VLP address (and mailing address, if different) per HOA records and the Owner name and the address of the insured property per the Certificate of Insurance (COI), b. Whether a COI has been received and the expiration date of insurance coverage indicated by the COI, c. The amount of public liability coverage shown on the COI, and d. Whether the COI identifies the HOA as an additional insured. 2. The CAM shall review the COIs and information in the tracking system at least monthly to verify the following criteria: a. The name of the Owner and address of the property insured as shown on the COI are substantially the same as indicated on HOA records. b. A COI has been received and indicates coverage will remain in effect at through the current month of review. c. The amount of public liability coverage shown on the COI is at least $300,000. d. The COI identifies the HOA as an additional insured. 3. If the review indicates that any of the foregoing criteria are not satisfied by the COI, the CAM shall notify the Owner via email (or by U.S. Mail if the Owner does not have an email address on file with the HOA). The notice shall indicate the nature of the deficiency and request the Owner to have his or her insurance agent issue a revised COI to the HOA correcting the deficiency within two (2) weeks of the date of the notice. 4. If a revised COI is not received within the two-week period, the CAM shall send a notice to the Owner via certified U.S. Mail indicating the following: a. The nature of the deficiency, b. That the notice is the second notice of deficiency, c. Requesting the Owner to have his or her insurance agent issue a revised COI to the HOA correcting the deficiency within two (2) weeks of the date of the notice, and d. Indicating that if the deficiency is not corrected within the two-week period, the Page 1 of 2


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