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03/09/01 08:50 FAX 402 334 5628 10/05/00 11:49 FAX MORTGAGE EXPRESS TIMELY PAYMENT REWARDS RIDER 2003 IM 003/004 200101977 THIS TIMELY PAYMENT REWARDS RIDER is made this day of and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Security Deed (the "Security Instrument ") of the same date given ,by the undersigRod (the `Borrower'O to secure Borrower's Note to ~-' Ili (the "Lender") covering the Property described in the Security Instrument and located at: ADDITIONAL COVENANTS, In addition to the covenants and agreements made in the Sccurity Instrument, :Borrower and Lender fvrthcr covenant and agree as follows; A. TIMELY PAYMENT REWARDS RATE REDUCTION The Note provides for the reduction in the Borrower's interest rate as follows: 1. TIMELY PAYMENT REWARDS RATE REDUCTION Borrower has agreed to pay the rate of interest set forth in Section 2 of the Note (the "Note Rate ") until the full amount of principal has been paid. However, if on either: the second, third or fourth anniversary of the scheduled due date of the first full installment payment due under the Note (the "Anniversary Date ") Borrower has demonstrated a Good Payment History, Lender agrees to decrease the Note Rate by one percentage pgint Borrower will be deemed to have demonstrated a "Good Payment History" if Borrower: (a) has made each of the most recent 24 consecutive monthly payments under the Note and Security Instrument before the date the next payment was due, and (b) has never been late by 3 months or more in making any monthly payments due under the Note. If Borrower demonstrates a Good Payment History, the new Note Rate will take effect on the earliest Anniversary Date on which Borrower has demonstrated a Good Payment History ("Rate Reduction Date "). Beginning with Borrower's first monthly payment after the Rate Reduction Date, Borrower will pay the new amount as,the monthly payment until the Maturity Date. Lender will decrease Borrower's Note Rate only one time during the term of the loan, provided Borrower demonstrates a MULTWATE 1TVMLY PAYMENT REWARDS RIDER — Single Fantily — Fannie Mae UNIFORM INSTRUMENT Form 1412 11 9 (page 1 of t paps) Mull