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A TRUE COPY CERTIFICATION ON LAST PAGE J.R. SMITH, CLERK be insurable as part of the realty. Said property insurance shall cover the improvements and betterments from loss due to fire, windstorm, flood and any other peril included in the broadest available standard form of extended coverage. Coverage shall be in an amount sufficient to meet the co-insurance requirements of the policies, but not less than the full insurable value thereof. Deductibles for all perils, except windstorm, shall not be greater than two (2%) percent of the full insurable replacement value, without deduction for depreciation, for the demised premises of which any buildings are a part, including any improvements and betterments which may be insurable as part of the realty. Deductibles for windstorm damages shall not exceed five (5%) percent of the full insurable replacement value, without deduction for depreciation, for the demised premises of which any buildings are a part, including any improvements and betterments which may be insurable as part of the realty. The policy shall be endorsed to make any loss payments payable jointly to the LANDLORD and TENANT for losses covered under such policies. In the event of damage and/or destruction to the buildings, improvements, betterments and equipment, all proceeds from such policy shall be utilized by TENANT to repair and/or replace the damaged or destroyed buildings, improvements, betterments and equipment. TENANT may request consent from LANDLORD not to repair and/or replace the damaged or destroyed buildings, improvements, and equipment. LANDLORD, in its sole discretion, may either accept or reject TENANT'S request not to repair and/or replace. If the LANDLORD rejects TENANT'S request not to repair and/or replace, then TENANT must utilize all insurance proceeds to repair and/or rebuild pursuant to this paragraph. If LANDLORD consents to TENANT'S request not to repair and/or replace, then the insurance proceeds shall be prorated Page 11 of 38 N:\Client Docs\Airport\Attachment B\2016.Pebruary.16.ATTACHMENT B.docx