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412 upon said Airport a temporary building for the exclusive use of said Leassee, its employees, patrons, paasengers and invitees. It is understood and agreed that Lessor shall keep the administration building insured against fire, earthquake, and elements at its highest insurable amount, and will pay the premiums on such insurance; and it is agreed that in case of loss under any such policy that the amount recovered from such insurance companies shall be used exclusively in the repair and reconstruction of the premises so damaged. It is further understood and agreed that Lessor will also insure and keep insured any other building erected upon said premises by Lessor, and that the proceeds derived from any loss under such policy shall be used in repairing or replacing the property so damaged. XVI. In the event Lessee shall abandon and discontinue the conduct and operation of, or be permanently prevented by any final action of any Federal or State authority from, conducting and operating its air transportation system at the airport, or in case Lessee shall fail to perform, keep, and observe any of the terms, covenants, or conditions herein contained on the part of Lessee to be performed, kept or observed, Lessor may give Lessee written notice to correct such condition or cure such default, and if any such condition or default shall continue for sixty (60) days after the receipt of such notice by lessee, then Lessor may, after a lapse of said sixty (60) days period, and prior to the correction or curing of such condition or default, terminate this lease by a thirty (30) days written notice; and the term hereby demised shall thereupon cease and expire at the end of such thirty (30) days in the same manner and to the same effect as if it were the expiration of the original term. XVII. Lessor agrees that upon the performance of the conditions, covenants, and agreements on the part of Lessee to be performed hereunder Lessee shall peaceably have and enjoy the leased premises and all the rights and privileges at said Airport, its appurtenances and facilities herein granted. XVIII. Whenever the term "Civil Aeronautics Board" is used in this Lease it shall be construed as referring to the Civil Aeronautics Board created by the Federal Government under the Civil Aeronautics Act of 1938, or to such other Federal Government authority which may be the successor thereto or be vested with the same or similar authority. XIX. Notice to Lessor provided for herein may be served by mailing the same by registered mail, postage prepaid, addressed to the City Clerk of the City of Lae Vegas, Las Vegas, Nevada; and notice to Lessee may be served by mailing the same by registered mail, postage prepaid, addressed to Lessee at Burbank, California. XX. All the covenants, stipulations, and agreements in this Lease shall extend to and bind the successors and assigns of the respective parties hereto. XXI. This lease shall be deemed to be made in and construed in accordance with the laws of the State of Nevada.