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200207717 Trustee, without demand on Borrower, shall sell the Property at public auction to the highest bidder at the line 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 ofthe Property by public announcement at the time and place of any previously scheduled sale. Lender of 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 fallowing 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, not to exceed 5.011 °G, of [lie principal amount of lire Note at the time of lire decla- ration of default, and reasonable attorneys' fees as permitted by law; (b) to all sums secured by this Security Instrument; and (c) any excess to the person or persons legally entitled to it. 21. Lien Priority. The fill] amount secured by this Security instrument shall have the same priority over any other liens on the Property as if the full amount had been disbursed on the date the initial disbursement was made, regardless ofthe actual date of any disbursement.' fhe amount secured by this Security Instrument shall include all direct payments by Lender to Borrower and all other loan advances permitted by this Security Instrument for any purpose. This lien priority shall apply notwillnstanding any State constitution, law or regulation, except that this lien priority shall not affect the priorty of any liens for unpaid State or local governmental unit special assessments or taxes. 22. Ad] ustable Rate Feature. Under the Note, the initial stated interest rate of 3.5000 % 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 die total outstanding principal balance_ F.ach adjusmond to the interest rate will be based upon the weekly average yield on United States Treasury Securities adjusted to a constant maturity of one year, as made available by the Federal Reserve Board in Statistical Release 11.15 (519) ( "Index ") plus a margin. If the Index is no longer available, Lender will use as a new Index any index prescribed by the Secretary. Lender will give Borrower notice ofthe new Index_ Lender will perform the calculations described below to determine the new adjusted interest rate. The interest rate may change on the first day of OCTOBER, 2002 , and on L] that day of each succeeding year LX] line first day of each succceding month ( "Change ]),are") until the loan is repaid in trill. "Dm value ofthe Index will he 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. 'flie sum ofthe margin plus the Current Index will he 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 "). I L (Annually Adjusting Variable Rate Feature) The Calculated Interest Rate cannot be more than 2.0% higher or lower Than the Existing Interest Rate, nor can it be more than 5.0% higher or lower than the Initial baerest Rate. ,yj (Monthly Adjusting Variable Rate Feature) The Calculated interest Rate will never increase above TIURTEEN AND 500 /1000 percent( 13.50000°0. 'fhe Calculated Interest Rare will be adjusted if accessary to comply with these rate hatitatien(s) 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 nut change. 23. Ruconveyance. Upan payment of all sums secured by this Security Instrument, ],under shall request 'Trustee to recuuvey the Property and shall surrender this Security Insirtauent and all notes evidencing debt secured by this Security Instrument to'I'rester, Trustee shall reconvey the Property without warranty and without charge to the person or persons legally entitled to iL Such person of persons shall pay any recordation costs. 24. Subslilule Trustee. Lender, at its option, may from time to time rcu ive Trustee and appoint a successor trustee to any Trusue, appointed hereunder by an instrument recorder) in dnc county in which this Security Inslrunent is recorded. Without conveyance ofthe Property, the successor trustee shall succeed to all the title, power and duties conferred upon msicc herein and by applicable low. 25. Request fur Notices. Borrower requests that copies of the notices of default and sale he sent to Borrower's address which is the Property Addrwn. GGxB 05197 Pe6e7 orb