Insurance Workshop on 10/31/16 at 5:00 PM (before Annual Meeting)

All FSH owners are invited to attend a workshop on insurance issues immediately preceding the Annual Meeting.

Monday, October 31, 2016 — at 5pm in the Lobby

We survived a potentially devastating event with the passing of Hurricane Matthew.  Some unit owners called our insurance agent directly to report minor damages and ask how it will be taken care of.   We’d like to take this opportunity to explain how claims are resolved based on the Verbiage of our Master Deed and its latest amendment which helps to define everyone’s responsibilities.   We have asked our insurance agent (Guy Riska) to help us interpret our Master Deed so we all know what to do and what to expect when Hurricanes hit.

In addition, we asked Guy to describe how various scenarios would be handled:

1.  A flood damages the foundation and first floor such that the building is condemned and needs to be torn down and rebuilt (who pays for demolition and removal of material, is foundation covered, common areas, individual units, standards for rebuilding, etc)

2.  An earthquake damages the building such that it must be torn down and rebuilt.

3.  A hurricane damages the roof and windows causing severe water damage on all floors.

4.  Verizon equipment on our roof causes a fire that damages common area and individual units.

5.  A renter causes a fire in the unit the severely damages a number of units such that they are not inhabitable.

We hope to see you at this workshop, followed by the FSH Annual Meeting at 6:30.

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