How do you delete/rename address favourites in mio C520 v3.3 (mio map)?

PLEASE help me ...I have bought an X demo mio C520 and it has already got an address stored for favourites . How do I remove or change the address ...the manual doesnt mention anything ! please help me ..also when I save address in the mio GPS it also has folders which I cannot rename or add for my address ...how do I remove them !! please reply as soon as anyone knows the solution..thanks