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(iv) Petitioning, liaisonand communication with the City of Everett, <br />Snohomish County, and other governmental agencies with respect to the creation of a Business <br />Improvement Area as described in Section 9 <br />(v) Sponsorship and promotion of arts and cultural activities within or in the <br />vicinity of the Property; <br />(vi) Meetings and other gatherings of residents of the Propel ty for social, <br />recreational, informational, or other purposes; <br />(vii) Professional management of the Master Association and the Common <br />Area and other areas and items maintained pursuant to this Master Declaration; <br />(vni) Legal, accounting and other professional and consulting services for the <br />Master Association; <br />(ix) General commercial liability and property damage insurance pursuant to <br />Section 4.2, officers' and directors' liability insurance coverage, errors and omissions coverage for <br />members of the Board, pollution liability insurance and construction pollution liability insurance <br />in accordance with the LEIA, and such other insurance coverage as the Board may deem necessary <br />or appropriate, including but not limited to any environmental insurance policies; <br />(x) Provision of security services for the Property, provided that the Master <br />Association shall have no obligation whatsoever to provide such security services; <br />(xi) Other activities, events, or services for the common benefit of the Property <br />and the Members, as determined by the Board from time to time in its sole discretion; <br />(xii) Contingency and reserve funds to pay for insurance premiums and <br />deductibles, and for replacement, m whole or in part, of the Common Area and any Improvement <br />located in, on, or under the Common Maintenance Area and any other Improvements for which the <br />Board elects to collect reserve assessments At all times, the amount of the contingency and reserve <br />funds of the Master Association must be sufficient to pay for all environmental insurance premiums <br />and deductibles as and when required under the LEIA <br />(xiii) Funds for paying for and administering any long-teliii obligations assumed <br />by the Master Association such as, for example, obligations assumed pursuant to Section 6 of the <br />Agreement for Use and Maintenance of Stormwater System and Grant of Easements dated as of <br />June 30, 2021 recorded under Snohomish County recording number 202107080970, Section 9 of <br />the Riverfront Boulevard Easements Agreement dated as of June 30, 2021 and recorded under <br />Snohomish County recording number 202107010535, or Section 13 of the Consultant Agreement <br />for Professional Services by and among the City, Riverfront Phase 1 LLC, and Herrera <br />Environmental Consultants, Inc., dated on or about August 25, 2022. <br />6.2.3. Allocation of Assessments. All General Assessments shall be allocated among <br />Members then subject to assessment in accordance with the Allocation Schedule attached hereto as Exhibit <br />D. <br />62.4. Notice of General Assessments and Time for Payment. General Assessments shall <br />be determined on an annual basis. Subject to amendment by the Board, the Master Association shall give <br />12 <br />4864 8276-8240, v. 14 <br />