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<br /> -10- <br />Paragraph II (A) above. It is understood and agreed that any loss <br />payable thereunder shall be made to LESSOR, and LESSOR further agrees <br />that it will expend any funds recovered by it under the terms of any <br />such insurance policy or policies for reconstruction and repair of the <br />damaged portion of said demised premises. LESSEE shall promptly notify <br />LESSOR of the occurrence of fire or accident upon said demised <br />premises. <br /> B. Insurance--Premises Leased for Aircraft Storage, Parkinq, <br /> and Office, Maintenance, and Repair Space. <br /> <br /> LESSEE shall maintain at its own expense fire and extended coverage <br />insurance on the permanent improvements located upon the demised <br />premises described in Paragraph II(B) above and upon any aircraft <br />stored, secured, placed, housed or located upon said demised premises. <br />Should annual insurance premiums paid by LESSOR in connection with the <br />ownership, maintenance or use of the San Marcos Municipal Airport or <br />any operations at said Airport or elsewhere which are necessary or <br />incidental to said ownership, maintenance or use ever be increased <br />because of the securing by LESSEE of aircraft in the storage hangar or <br />parking area herein provided for, LESSEE shall promptly pay to LESSOR <br />the extra amount of the premium upon request by LESSOR. LESSOR shall <br />not be liable to LESSEE for losses due to theft or burglary or for <br />damage done by unauthorized persons on said Airport premises. <br /> VIII. <br /> LESSEE agrees to file with LESSOR a policy of general liability <br />insurance issued by a casualty insurance company duly authorized to do <br />business in the State of Texas with minimum limits of $100,000.00 per <br />person and $300,000.00 for any single occurrence of bodily injury <br />or death and $100,000.00 for any single occurrence of injury to or <br />destruction of property. Said insurance policy shall name LESSOR as an <br />additional insured. Said insurance shall contain the endorsement that <br />such insurance may not be cancelled or amended with respect to LESSEE <br />wi thou t thirty ( 30) days' written notice by certified mail, return <br />