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��1 5��7�4 If the power of sale is�nvoked,TrustQe shall record a notice of default in each c�unty in wh�ch any part of th�Property is lo�ated and shall mail�opies vf such natice in the rnanner prescri�ed hy appli�a�aie law to Barrower and to the other persoas prescribed by appiicable law.After the tim�requ�red hy appli�abie law,Trustee shall give public nati�e of sale to the persons and in the manner preseribed by appli�able law. Trustee,without demand on Borrower,shall sell th� Praperty at public auction to the h�gh�st bidder at�he tim�and place aad under the terms designated in the notice of sale in one or more parcels and in any arder Trustee determines. Trustee may postpone sa�e af all ar any par�el of the Property by public announcement at the time and pla�e of any pre�iously s�heduled sale. Lender or its designee may pur�hase the Property at any sale. iJpon receipt af payment of the pricQ bid,Trustee shall de�i�er to the purchaser Tru�tee's deed canveying the Property.The r�cita�s in the Trustee's deed shail be prima facie eviden�Q of the truth vf#he staternents made therein.Trustee 5ha11 apply the prviceeds vf the sa�e in the following �rder: �a}to all c�sts and egpens�s af exQrcising the pawer of�ale,and the sale,including the payment�f the Trustee's fees a�tually incurred and reasonable attoraeys'fees as permitted by applicahle law; �b�ta all sums secured by this Se�urity Instrument;and�c}any exc�ss to the person❑r persoas leg�lly entitl�d to i�. �6.Lien Priarity.The full amount secured by this Security Instrumen#sha11 ha�e a lien priority su�ordinate only�o the full amount secured by the First Security�nstrument. 27.Adjustable-Rate Fea#ure.Under the Nate,the initial �tated int�rest rate of 3.�50%which accrues on the unpaid principal balance�"Initl�� II7t�T�5�R�t��is subject ta�hange,as described b��ow. When the interest rate changes,the new adjusted interest ra�e will be appl�ed t�the tatal outsta.nding principal balance.Each ad3ustment ta the interest rate wili be based upan the a�erage af�nterbank affered rates far one-year U.S.dallar denominated d�p�sits in the London Mark�t("LIB�R"�,as published in The �lL�a11 Street.Taurnal�"Index"�plus a marg�n. If the Index is no langer a�ailable, Lend�r�vill be requ�red to use ar�y index prescribed by th�Depar�ment of Housing and Urban Developm�nt. Lend�r vvill gi�e BQrrower notice of new index. Lender will perform the calculati�ns described below to determine�he new adjusted interest rate.The in�erest rate may chang�on f]�taber 1,�U16 and on that day of each succeeding year. "Change Date" m�ans ea�h date in v�hich the interest rate could change. . Th��alue�f the Index will be determined, using the mos�recent�ndex f�gure a�ailable thirty�3U}days befare�he�hange Date�"Current�ndex"}. B�fare each Change Date,the new interest rate will be calcuiated by adding a margin to the Current Index.The sum of the rnargin ptus�he�urrent Index will be call�d the "�alculated Interest Rate'" for each Change Date. The Calcu�ated Inter�st Rate wi11 be compared to the interest rate in�ffect irnmediately prior to the current Ghange Date�the"EX15t1I7� Interest Rate"}. The Calculated In�erest Rate cann�t be mare than 2.�percentage pvints higher�r lawer than the Existing Interest�a�e,nor�an it be mare than 5.�percentage pvints higher or low�r than the Initial Interes�Rat�. The Calculated Interest Rate will be adjusted if necessary to�omply with the rate limitation(s�described abo�e and v�ill be in effect until the next Change Date.At any change date, if the Caiculated Interest Rate equais the Existin�Interest Rate,the inter�st rate will n�t chan�e. Fage 1�af l3 HE�M Second Deed❑f Trust--2�15