16. Insurance.- (1) The Board or Manager- (a) shall have, if requested so to do by a mortgagee having a first mortgage covering an apartment, the authority to, and (b) shall, if required so to do by the bye-laws or by a majority of the apartment owners, obtain insurance for the property against loss or damages by fire or other hazards under such terms and for such amounts as shall b so requested or required. (2) Such insurance coverage shall be written on the property in the name of such Board or Manager as trustee for each of the apartment owners in the percentages specified in the bye-laws. (3) The prima payable in respect of every such insurance shall be common expenses. (4) The provisions of sub-sections (1) to (3) shall be without prejudice to the right of each of the apartment owner to insure his own apartment for his benefit. | 
