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Paragraph 21, including, but not limited to, reasonable attorneys' fees and costs of title evidence. If the power of sale is invoked, Trustee shall record a notice of default in each county in which any part of the Property is located and shall mail copies of such notice in the manner prescribed by applicable law to Borrower and to the other persons prescribed by applicable law. After the time required by applicable law, Trustee shall give public notice of sale to the persons and in the manner prescribed by applicable law. Trustee, without demand on Borrower, shall sell the Property at public auction to the highest bidder at the time and place and under the terms designated in the notice of sale in one or more parcels and in any order Trustee determines. Trustee may postpone sale of all or any parcel of the Property by public announcement at the time and place of any previously scheduled sale. Lender or its designee may purchase the Property at any sale. Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser Trustee's deed conveying the Property. The recitals in the Trustee's deed shall be prima facie evidence of the truth of the statements made therein. Trustee shall apply the proceeds of the sale in the following order: (a) to all costs and expenses of exercising the power of sale, and the sale, including the payment of the Trustee's fees actually incurred and reasonable attorneys' fees as permitted by applicable law; (b) to all sums secured by this Security Instrument; and (c) any excess to the person or persons legally entitled to it. 22. Lien Priority. The full amount secured by this Security Instrument shall have a lien priority subordinate only to the full amount secured by the First Security Instrument. 23. Adjustable -Rate Feature. Under the Note, the initial stated interest rate of 2.653% which accrues on the unpaid principal balance ( "Initial Interest Rate ") is subject to change, as described below. When the interest rate changes, the new adjusted interest rate will be applied to the total outstanding principal balance. Each adjustment to the interest rate will be based upon the average of interbank offered rates for one -month U.S. dollar denominated deposits in the London Market ( "LIBOR "), as published in The Wall Street Journal ( "Index ") plus a margin. If the Index is no longer available, Lender will be required to use any index prescribed by the Department of Housing and Urban Development. Lender will give Borrower notice of new index. Lender will perform the calculations described below to determine the new adjusted interest rate. The interest rate may change on November 1, 2014 and on the first day of each succeeding month. "Change Date" means each date in which the interest rate could change. The value of the Index will be determined, using the most recent Index figure available thirty (30) days before the Change Date ( "Current Index "). Before each Change Date, the new interest rate will be calculated by adding a margin to the Current Index. The sum of the margin plus the Current Index will be called the "Calculated Interest Rate" for each Change Date. The Calculated Interest Rate will be compared to the interest rate in effect immediately prior to the current Change Date (the "Existing Interest Rate "). The Calculated Interest Rate will never increase above 12.653% 2 01405854 The Calculated Interest Rate will be adjusted if necessary to comply with the rate limitation(s) described above and will be in effect until the next Change Date. At any change date, if the Calculated Interest Rate equals the Existing Interest Rate, the interest rate will not change. 24. Reconveyance. Upon payment of all sums secured by this Security Instrument, Lender shall request Trustee to reconvey the Property and shall surrender this Security Instrument and all notes evidencing debt secured by this Security Instrument to Trustee. Trustee shall reconvey the Property without warranty to the person or persons legally entitled to it. Such person or persons shall pay any recordation costs. Lender may charge such person or persons a fee for reconveying the Property, but only if the fee is paid to a third party (such as the Trustee) for services rendered and the charging of the fee is permitted under applicable law. 25. Substitute Trustee. Lender, at its option, may from time to time remove Trustee and appoint a successor trustee to any Trustee appointed hereunder by an instrument recorded in the county in which this Security Instrument is recorded. Without conveyance of the Property, the successor trustee shall succeed to all the title, power and duties conferred upon Trustee herein and by applicable law. 26. Request for Notices. BORROWER HEREBY REQUESTS THAT, UNLESS OTHERWISE PRESCRIBED BY LAW, A COPY OF ANY NOTICE OF DEFAULT OR NOTICE OF SALE PURSUANT TO THE NONJUDICIAL FORECLOSURE OF THIS DEED OF TRUST BE MAILED TO BORROWER AT BORROWER'S MAILING ADDRESS SET FORTH HEREIN. Page 7 of 9 HECM Second Deed Of Trust - -: