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Loan Number: 0029194834 20040989 LOW DOWN PAYMENT MORTGAGE RIDER TO SECURITY INSTRUMENT THIS LOW DOWN PAYMENT MORTGAGE RIDER TO SECURITY INSTRUMENT is made this 07th day of October, 2004, 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 undersigned ( "Borrower ") to secure Borrower's Note to Coldwell Banker Mortgage ( "Lender ") covering the Property described in the Security instrument and located at: 1422 NEWCASTLE DRIVE, GRAND ISLAND, NE 68801 [Property Address] ADDITIONAL COVENANTS. In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender further covenant and agree as follows: A. LOW DOWN PAYMENT MORTGAGE RATE REDUCTION The Note provides for the reduction in the Borrower's interest rate as follows: 1. LOW DOWN PAYMENT MORTGAGE 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. Note Holder agrees to decrease the Note Rate by 0.875 percentage point(s) on the earlier of (a) the First Cancellation Date or the Second Cancellation Date, provided that the conditions described in LA or LB below, as applicable, are satisfied; or (b) the Termination Date, provided that Borrower's monthly payments are current at that time. A. First Cancellation Date The "First Cancellation Date" is defined as the date that is the first monthly payment due date after Note Holder has verified that Borrower has satisfied all of the following requirements: (1) Borrower must request cancellation in writing; (2) the mortgage balance: (a) is first scheduled to reach 80% of the original property value; or (b) actually reaches 80% of the original property value; (3) Borrower has demonstrated a Good Payment History (as described below); and (4) the then - current value of the property is at least equal to the original property value. (For purposes of calculating original property value hereunder, Borrower's loan -to -value ratio at origination is 99.57 %. In addition, the then - current property value will be based on a new appraisal or broker's price opinion obtained by Note Holder and paid for by Borrower.) For purposes of the First Cancellation Date, Borrower will have demonstrated a Good Payment History if the Borrower has had neither (1) a payment thirty (30) days or more past due in the twelve (12) months preceding the payment due date immediately prior or the First Cancellation Date, nor (2) a payment sixty (60) days or more past due in the twenty -four (24) months preceding the payment due date immediately prior to the First Cancellation Date. If Borrower has had the mortgage loan for less than twenty -four (24) months, this payment history requirement will be based on the length of time Borrower has had the mortgage loan. MULTISTATE LOW DOWN PAYMENT MORTGAGE RIDER TO SECURITY INSTRUMENT -- Single Family -- Fannie Mae UNIFORM INSTRUMENT 0641414 (0007) Page t of 3 �,3