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<br /> 8.04 Division of Award: The Lessor and the Lessee shall each be entitled to receive and retain <br /> separate awards, or portions of lump sum awards, as are aUocated to their respective interests in <br /> the condemnation proceeding. The termination of this Lease under this Paragraph shall not affect <br /> the rights of the respective parties to such awards. <br /> Article 9. Damage by Casualty <br /> 9.01. The Lessee shall give immediate verbal notice and prompt written notice to the Lessor of <br /> any damage caused to the Leased Premises by fire or other casualty. <br /> 9.02. In the event that any improvements on the Leased Premises are damaged or destroyed by <br /> fire or other casualty covered under insurance, and the Lessee does not elect to terminate the <br /> Lease, the Lessee shall proceed at its sole cost and expense to promptly and diligently rebuild and <br /> repair the improvements. If the Hangar is damaged or destroyed by fire or other casualty that <br /> renders more than 50% of the floor area of the Hangar unusable, then the Lessee may elect either <br /> to terminate this Lease or to proceed to rebuild and repair the improvements. The Lessee shall <br /> give written notice to the Lessor of this election within 60 days after the occurrence of the casualty. <br /> If the Lessee elects to rebuild and repair, it shall proceed to do so with diligence and at its sole <br /> cost and expense. <br /> 9.03. During any period of reconstruction or repair of improvements on the Leased Premises, this <br /> Lease shall continue in full force and effect, except that the rental shall be abated for the length <br /> of time necessary for the reconstruction or repairs in proportion to the amount of floor area of the <br /> Leased Premises rendered unusable, but there shall be no abatement of any other amounts <br /> payable by the Lessee under the terms of this Lease. <br /> 9.04. Any insurance against casualty loss which may be carried by either the Lessor or the <br /> Lessee shall be under the sole control of the party carrying the insurance, and the other party shalf <br /> have no interest in any proceeds of this insurance. Lessor and Lessee expressly waive any cause <br /> of action or right of recovery which either of them may have against the other for any loss or <br /> damage to the Leased Premises or to the contents caused by fire, explosion, or other risk covered <br /> by the casualty insurance. <br /> Article 10. Assignment and Subletting <br /> 10.01. The Lessee shall not assign or sublet all or part of its interest in this Lease without the <br /> advance written consent of the Lessor. Consent by the Lessor to one or more assignments or <br /> sublettings shall not operate as a waiver of the Lessor's rights as to any subsequent assignments <br /> or sublettings. Notwithstanding any assignment or subletting, the Lessee shall remain fully <br /> responsible and liable for the payment of the rent and for compliance with all of its other <br /> obligations under this Lease. <br /> 10.02. In the event of an assignment by the Lessor of all of its interest in this Lease to a person, <br /> firm orcorporation that assumes all of the Lessor's obligations, the Lessee agrees to look solely <br /> to the responsibility of the successor in interest of the Lessor. Any security given by the Lessee <br /> to secure performance of its obligations may be assigned and transferred by the Lessor to its <br /> successor in interest, and the Lessor shall be released of any further obligations under this Lease. <br /> 6 <br />