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1 0'- 1~~8 VOL .Jt}PAGE 0 Ii promptly and diligently rebuild and repair the improvements. If the Hangar is damaged or destroyed by fire or other casualty that renders more than 50% of the floor area of the Hangar unusable, then thè Lessees may elect either to terminate this Lease or to proceed to rebuild and repair the improvements. The Lessees shall give written notice to the Lessor of this election within 60 days after the occurrence of the casualty. If the Lessees elect to rebuild and repair, they shall proceed to do so with diligence and at their sole cost and expense. 9.03. During any period of reconstruction or repair of improvements on the Leased Premises, this Lease shall continue in full force and effect, except that the rental shall be abated for the length of time necessary for the reconstruction or repairs in proportion to the amount of floor area of the Leased Premises rendered unusable, but there shaH be no abatement of any other amounts payable by the Lessees under the terms of this Lease. 9.04. Any insurance against casualty loss which may be carried by either the Lessor or the Lessees shall be under the sole control of the party carrying the insurance, and the other party shall have no interest in any proceeds of this insurance. Lessor and Lessees expressly waive any cause of action or right of recovery which either of them may have against the other for any loss or damage to the Leased Premises or to the contents caused by fire, explosion, or other risk covered by the casualty insurance. Article 10. Assignment and Subletting 10.01. The Lessees shall not assign or sublet all or part of their interest in this Lease without the advance written consent of the Lessor. Consent by the Lessor to one or more assignments or sublettings shall not operate as a waiver of the Lessor's rights as to any subsequent assignments or sublettings. Notwithstanding any assignment or subletting, the Lessees shaH remain fully responsible and liable for the payment of the rent and for compliance with all of their other obligations under this Lease. 10.02. In the event of an assignment by the Lessor of all of its interest in this Lease to a person, firm or corporation that assumes all of the Lessor's obligations, the Lessees agree to look solely to the responsibility of the successor in interest of the Lessor. Any security given by the Lessees to secure performance of its obligations may be assigned and transferred by the Lessor to its successor in interest, and the Lessor shall be released of any further obligations under this Lease. Article 11. Events of Default and Remedies 11.01. The following events shall be events of default by the Lessees under this Lease: A. The Lessees fail to pay when due any rental or any other sums or charges due under this Lease. 7 ---