s. 98 (3).
Lien for default under agreement(4)
The corporation may add the costs, charges, interest and expenses resulting from an
owner’s failure to comply with an agreement to the common expenses payable for the owner’s
unit and may specify a time for payment by the owner. 1998, c. 19, s. 98 (4).
Agreement binds unit(5)
An agreement binds the owner’s unit and is enforceable against the owner’s successors
and assigns. 1998, c. 19, s. 98 (5).
Property insurance99. (1)
The corporation shall obtain and maintain insurance, on its own behalf and on
behalf of the owners, for damage to the units and common elements that is caused by major
perils or the other perils that the declaration or the by-laws specify. 1998, c. 19, s. 99 (1).
In subsection (1),
“major perils” means the perils of fire, lightning, smoke, windstorm, hail, explosion, water
escape, strikes, riots or civil commotion, impact by aircraft or vehicles, vandalism or
malicious acts. 1998, c. 19, s. 99 (2).
An exclusion in the insurance required by this section is not effective with respect to
damage resulting from faulty or improper material, workmanship or design that would be
insured, but for the exclusion. 1998, c. 19, s. 99 (3).
Improvements not included(4)
The obligation to insure under subsection (1) does not include insurance for damage to
improvements made to a unit. 1998, c. 19, s. 99 (4).
Determination of improvements(5)
For the purpose of this section, the question of what constitutes an improvement to a
unit shall be determined by reference to a standard unit for the class of unit to which the unit
belongs. 1998, c. 19, s. 99 (5).
A standard unit for the class of unit to which the unit belongs shall be,
(a) the standard unit described in a by-law made under clause 56 (1) (h), if the board has
made a by-law under that clause;
(b) the standard unit described in the schedule mentioned in clause 43 (5) (h), if the board
has not made a by-law under clause 56 (1) (h). 1998, c. 19, s. 99 (6).
Amount of recovery(7)
Subject to a reasonable deductible, the insurance required under this section shall cover
the replacement cost of the property damaged by the perils to which the insurance applies. 1998,
c. 19, s. 99 (7).