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85--- 000867 to the insurance carrier and Beneficiary. Beneficiary may make proof of loss if not made promptly by Trustor. Unless Benefici- ary and Trustor otherwise agree in writing, insurance proceeds shall be applied to the restoration or repair of the property damaged, provided such restoration or repair is economically feasible and the security of this Deed of Trust is not thereby impaired. If such restoration or repair is not economically feasible, or if the security of this Deed of Trust would be impaired, the insurance proceeds shall be applied to the sum secured by this Deed of Trust, with the excess, if any, paid to Trustor. If the property is abandoned by Trustor, of if Trustor fails to respond to Beneficiary within thirty (30) days from the date notice is mailed by Beneficiary to Trustor that the insurance carrier offers to settle a claim for insurance benefits, Beneficiary is authorized to collect and apply the insurance proceeds, at Beneficiary's option, either to restora- tion or repair of the property or to the sum secured by this Deed of Trust. Unless Beneficiary and Trustor otherwise agree in writing, any such application of proceeds to principal shall not extend or postpone the due date of the monthly payments referred to hereinabove or change the amount of such installments. 5. Life Insurance. To keep the lives of each of the indi- vidual Trustors insu—r—e-c7in an amount at least equal to the amount of the indebtedness owing to Beneficiary under the Trustor's Note. Beneficiary shall be designated as owners and benefici- aries of such policies of insurance until the indebtedness due under the Trustor's Note is paid in full, at which time Benefi- ciary shall forthwith transfer such policies of insurance to Trustor. Tn the event of the death of either or both of the individual Trustors during the term hereof, Beneficiary shall promptly apply the insurance proceeds received as result of such death(s) to fully pay the remaining principal balance due on the Trustor's Note, together with accrued interest thereon, and remit any remaining insurance proceeds to the contingent beneficiary as provided by said policy or policies of insurance. 6. Repair, Maintenance and Remodeling. To promptly repair, restore or rebuild any buildings or improvements now or hereafter on the property; to keep the property in good condition and repair, without waste and free from mechanics or other liens not expressly subordinated to the lien hereof; to not make, suffer or permit any nuisance to exist nor to diminish or impair the value of the property by any act or omission to act; to comply with all requirements of law with respect to the property; and not to remodel or otherwise make any structural changes to the improvements presently located on the subject property, nor to construct any additional improvements upon the subject property without the prior written consent of the Beneficiary. 7. Use of Property. To own and occupy the property only as a singi—e-7-amily residence by Trustor and Trustor's immediate family. B. IInnssection. Beneficiary may make or cause to be made, reasonable ent-- --ries upon and inspection of the property, provided that Beneficiary shall give Trustor notice prior to any such inspection, specifying reasonable cause therefor related to Bene- ficiary's interest in the property. 9. Transfer or Lease of the Property. Trustor shall not sell, transfer, ass gn or ease the property or any portion thereof or any of Trustor's interest therein without Beneficiary's prior written consent, excluding (a) the creation of a lien or encumbrance subordinate to this heed of Trust, (b) the creation of a purchase money security interest for household appliances, or (c) a transfer by devise, descent or by operation of law upon the death of the Trustor. 10. Condemnation. to tho event ttae property, or any part thereof, s WI TW to en by eminent domain, Renefic:iary athall he entitled to collect .nnd rereive al). compon! >, at.ion %N+ir?t may 1,e paid for anv property taken or for fl in),,io *s tO ptopotty na't tralkon,