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coverage (but including all building service equipment and machinery). <br />The policy or polices shall also contain "Inflation Guard" and "Agreed <br />Amount" endorsements, if reasonably available. Such policy or policies <br />shall include such additional endorsements, coverages, and limits with <br />respect to the foregoing and other hazards as may be required from time <br />to time by the regulations of the FHA or Federal National Mortgage <br />Association ( "FNMA ") as a precondition to their insuring, purchasing or <br />financing a mortgage. The Board may also, on behalf of the Association, <br />enter into binding written agreements with a mortgagee, insurer or <br />servicer, including without limitation the FHA or FNMA, obligating the <br />Association to keep certain specified coverages or endorsements in effect. <br />(b) Comprehensive public liability insurance covering the use, operation and <br />maintenance of the Common Area, with minimum limits of $1,000,000 per <br />occurrence, against claims for death, bodily injury and property damage, <br />and such other risks as are customarily covered by such policies for <br />projects similar in construction, location and use to the Property. The <br />policy shall contain a "severability of interest" endorsement which shall <br />preclude the insurer from denying the claim of an Owner or Occupant <br />because of negligent acts of the Association or other Owners or <br />Occupants. The policy shall include such additional endorsements, <br />coverages and limits with respect to such hazards as may be required by <br />the regulations of the FHA or FNMA as a precondition to their insuring, <br />purchasing or financing a mortgage. <br />(c) Fidelity bond or insurance coverage against dishonest acts on the part of <br />23 <br />- 2 3 - <br />