It all seems reasonable to me. Not sure what you meant by “Or should we maintain the common walls element?” unless the boundary wall in the exclusions is not referring to the common wall.
I am also unclear as to the status of fire inspections …. I don’t see why you should be exempt, but you never know.
Have a look at theses links to web pages from Bannermans lawyers and Strataman.
They cover the same ground but in slightly different ways.