18. Insurance

Without prejudice to the right of each apartment owner to insure his apartment for his benefit, the Association shall insure the common areas and facilities against fire, flood, cyclone and other acts of God under such terms as may be decided by the Management Committee. The policy of insurance shall be written in the name of the Association as trustee for each of the apartment owner in the percentage of undivided interest in the land as specified in the Sale Deed. The premium payable under such policy of insurance shall be charged to the common expenses.