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CC&R ARTICLE 13: INSURANCE
The Board shall have authority in the exercise of its discretion to obtain and maintain from time to time as a common expense bonds of fidelity coverage for Association Board members (including Declarant), officers, employees or agents; and such other insurance as the Board may deem advisable or as may be required by the Federal National Mortgage Association, Federal Home Loan Mortgage Association, Veterans Administration or similar agencies or lending institutions.