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200703611 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, not to exceed 5.00 % of the principal amount of the Note at the time of the 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 full amount secured by this Security Instrument shall have a lien priority subordinate only to the full amount secured by the First Security Instrument. 22. Adjustable Rate Feature. Under the Second Note, the initial statcd interest rate of 6.0300% which accrues on the unpaid principal balancc ("Initial Interest Rate") is subject to change, as described below. Whcn thc interest rate changes, the new adjusted interest rate will be applied to thc total outstanding principal balance. Each adjustment to the interest rate will be bascd upon thc weekly average yield on United States Treasury Securitics adjustcd to a constant maturity of one year, as made available by the Federal Reserve Board in Statistical Relcasc H.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 Sccrctary. Lcndcr will give Borrower notice of the new Index. Lender will perform the calculations dcscribed below to dctermine the new adjusted interest rate. The interest rate may change on the first day of JULY, 2007 , and on ~I that day of each succeeding year OCJ the first day of cach succeeding month ("Changc Datc") until the loan is repaid in full. The value of the Index will be determined, using the most recent Indcx figure available thirty (30) days before the Change Date ("Current Index"). Before each Change Datc, thc 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 Ratc will bc compared to the interest rate in effect immediately prior to the current Changc Datc (the "Existing Interest Rate"). IJ (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% highcr or lower than the Initial Intercst Rate. IXJ (Monthly Adjusting Variable Rate Feature) The Calculated Interest Rate will never increase abovc SIXTEEN AND 03011000 percent ( 16.03000 %). The Calculated Interest Rate will be adjusted if necessary to comply with these rate limitation(s) and will be in effect until the next Change Datc. At any Change Date, if the Calculated Interest Rate equals the Existing Interest Rate, the interest ratc will not change. 23. Reconveyance. Upon payment of all sums sccurcd by this Security Instrument, Lender shall request Trustee to reconvcy thc Propcrty and shall surrender this Security Instrument and all notes evidencing dcbt secured by this Security Instrument to Trustcc. Trustcc shall rcconvey the Property without warranty and without charge to the person or pcrsons legally entitled to it. Such person or persons shall pay any recordation costs. 24. Substitute Trustee. Lcnder, 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. 25. Request for Notices. Borrower requests that copies of the notices of default and sale be sent to Borrower's address which is the Property Address. 70XB : 02/02 Y1CM A~/[, Page 7 ~'. \ \