AS5 on LGA775

[0tz]

Im currently have this board:

So it has the Socket 775. It has a lever so when I put the processor chip, I lift the lever first then put the processor chip into place right?

Now this is my question. I want to apply AS5 but dont know where shall I apply it. Is it:

1. I lift the lever, put the chip, apply dot-size amount of AS5 on top of the chip then close the lever and attach heatsink

or

2. I lift the lever, put the chip, close the lever, apply dot size amount of AS5 on top of the lever, then attach heatsink.

It might sound stupid but really Im confused

Second question. Im already using this chip for 10 months and I didnt applied AS5 on the day I assembled my PC. Is it ok that I apply AS5 now?

EDIT:
Then, Im getting this heatsink with fan because my stock hsf is generating annoying noise like that of an vacuum and my temperature is in 70 degrees celsius on full load on normal speeds (no oc).

Has anyone used this product? I cant afford that Scythe Ninja that others use and I want to ask if this hsf is quiet than my current one.

 

[Apokalipse]

#2
put in the chip before using AS5

haven't used that cooler before though, so I couldn't tell you anything about it.

 

[0tz]

So you mean I apply AS5 on the lever and not on the chip?

 

[GreenTeaBagger]

He means keep the chip in its socket and apply the paste on top of the CHIP on the metalic/shinny silver surface. It's ok if the paste gets messy and smudges on the lever but the entire surface of the chip must be coated with the stuff. Don't put too much on it (maybe a size of a grain of rice) and spread it using a little piece of cardboard or something. The thicker the coating is, the WORSe the heat will get. As for that fan try to get one with good reviews on newegg. Can't go wrong with a 60-70% excellent and 10-25% Good rating.

 

[The General]

It goes between the CPU and the heatsink. Why would it go anywhere else?