MARVIN MANDEL, Governor                                   397

THEM OR INTERESTED THIRD PARTIES, SHALL BE ENTITLED TO A
STATEMENT FROM THE MANAGER OR BOARD OF DIRECTORS SETTING
FORTH THE AMOUNT OF UNPAID ASSESSMENTS AGAINST THE SELLER
OR BORROWER, AND SUCH PURCHASER OR LENDER SHALL NOT BE
LIABLE FOR NOR SHALL THE UNIT CONVEYED OR ENCUMBERED, BE
SUBJECT TO A LIEN FOR ANY UNPAID ASSESSMENT IN EXCESS OF
THE AMOUNT SET FORTH.

11-119. INSURANCE.

THE CO-OWNERS MAY, UPON RESOLUTION OF A MAJORITY,
INSURE THE BUILDING AGAINST RISKS, WITHOUT PREJUDICE TO
THE RIGHT OF EACH CO-OWNER TO INSURE HIS CONDOMINIUM UNIT
ON HIS ACCOUNT AND FOR HIS OWN BENEFIT. THE PREMIUMS FOR
SUCH INSURANCE ON THE ENTIRE BUILDING SHALL BE DEEMED
COMMON EXPENSES.

11-120. SAME - DISPOSITION OF INDEMNITY IN CASE OF FIRE,
ETC.

(A)   IN CASE OF FIRE OR OTHER DISASTER THE INSURANCE
INDEMNITY SHALL, EXCEPT AS PROVIDED IN SUBSECTION (B)
BELOW, BE APPLIED TO RECONSTRUCT THE BUILDING.

(B)   RECONSTRUCTION SHALL NOT BE COMPULSORY WHERE
DESTRUCTION COMPRISES THE WHOLE OR MORE THAN TWO THIRDS
(2/3RDS) OF THE BUILDING. IN SUCH CASE, AND UNLESS
OTHERWISE UNANIMOUSLY AGREED UPON BY THE CO-OWNERS, THE
INDEMNITY SHALL BE DELIVERED PRO RATA TO THE CO-OWNERS
ENTITLED TO IT IN ACCORDANCE WITH THE PROVISIONS MADE BY
THE BYLAWS OR IN ACCORDANCE WITH A DECISION OF THREE
FOURTHS (3/4THS) OF THE CO-OWNERS, IF THERE BE NO BYLAW
PROVISION, AFTER FIRST PAYING OFF, OUT OF THE RESPECTIVE
SHARES OF THE UNIT OWNERS, TO THE EXTENT SUFFICIENT FOR
THE PURPOSE, ALL LIENS ON THE UNIT OF EACH CO-OWNER. IF
THE BUILDING IS RECONSTRUCTED, THE PROVISIONS FOR SUCH
EVENTUALITY MADE IN THE BYLAWS SHALL BE OBSERVED, OR, IN
LIEU THEREOF, THE DECISION OF THE COUNCIL OF CO-OWNERS
SHALL PREVAIL.

11-121. RECONSTRUCTION COST WHERE BUILDING NOT INSURED
OR INSURANCE INSUFFICIENT.

WHERE THE BUILDING IS NOT INSURED OR WHERE THE
INSURANCE INDEMNITY IS INSUFFICIENT TO COVER THE COST OF
RECONSTRUCTION, THE NEW BUILDING COSTS SHALL BE PAID BY
ALL THE CO-OWNERS DIRECTLY AFFECTED BY THE DAMAGE, IN
PROPORTION TO THE VALUE OF THEIR RESPECTIVE CONDOMINIUM
UNITS, OR AS MAY BE PROVIDED BY THE BYLAWS, AND IF ANY
ONE OR MORE OF THOSE COMPOSING THE MINORITY SHALL REFUSE
TO MAKE SUCH PAYMENTS, THE MAJORITY MAY PROCEED WITH THE
RECONSTRUCTION AT THE EXPENSE OF ALL THE CO-OWNERS
BENEFITED THEREBY AND THE PRO RATA SHARE OF THE RESULTING