ARTICLE XI

Insurance Requirements

The Association shall continuously maintain in effect such casualty, flood and liability insurance and a fidelity bond meeting the insurance and fidelity bond requirements for a residential development project established by Federal National Mortgage Association, Federal Home Loan Mortgage Corporation, U.S. Department of Veteran's Affairs, and Government National Mortgage Association, so long as any of them are a mortgagee or Owner of a Lot within the Property, except to the extent such coverage is not available or has been waived in writing by Federal National Mortgage Association, Federal Home Loan Mortgage Corporation, U.S. Department of Veteran's Affairs, and Government National Mortgage Association.