Finally, currently is redundant with the present progressive tense of is negotiating. Although eliminating one or two words from a single sentence may not seem like much progress, small edits add up. Quietly cleaning the jargon out of entire documents can produce more readable copy overall without destroying its legal force. In fact, people may be more willing to comply with the instructions, policies, or rules they're supposed to follow if they can actually understand them. Chop up 'snakes' Cutts recommends getting rid of excessively long sentences.
Some snaky sentences are plainly ridiculous.
At the least, repeating The Board shall also obtain and maintain to start a separate sentence would set off the property damage insurance from the two kinds of personal liability insurance. Most troublingly, the section starting with insuring the association and continuing all the way through to against any liability to the public becomes densely ambiguous as to whether all three kinds of insurance are being referred to or just the property insurance. If people are to understand what policies are in force, this 34-word wandering modifier has to be led home. The policy is remarkably clear, primarily because of the personal pronouns. It's the natural enemy of readable writing.