This clause applies separately to each item for which a co-insurance percentage is specified on the Declaration Page and only where the total loss exceeds the lesser of 2% of the applicable amount of insurance or $5000. The insured shall maintain insurance co-insurance with this for on the property insured to the extent of at least the amount produced by multiplying the actual cash value of the property by the co-insurance percentage specified on the Declaration Page, and, failing so to do, shall only be entitled to recover that portion of any loss that the amount of the insurance in force at the time of loss bears to the amount of insurance required to maintained by this clause.