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200311782 of the following requirements: (1) Borrower must request cancellation in writing; (2) the mortgage balance must be paid down to a point that it,: (a) if within 2 to 5 years of the date of this document, reaches 75% of the current property value, or (b) if after 5 years of the date of this document, reaches 80% of the current property value (current property value to be based on a new appraisal obtained by Note Holder and paid for by Borrower); (3) Borrower is current on payments and has demonstrated a Good Payment History (as described below); and (4) the loan must have at least a twenty -four (24) month history. For purposes of the Second Cancellation Date, Borrower is current if the payment due in the month before the Second Cancellation Date, all prior monthly payments, and any outstanding late charges have been paid by the end of the month before the Second Cancellation Date. In addition, 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 to the Second 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 Second Cancellation Date. C. Termination Date The "Termination Date" is defined as the earlier of: (1) the date that the mortgage balance is first scheduled to reach 78% of the original value of the property; or (2) the first day of the month after the date that is the mid -point of the original mortgage amortization period. For purposes of the Termination Date, Borrower's monthly payments will be deemed to be current if the payment due in the month before the Termination Date, all prior monthly payments, and any outstanding late charges have been paid by the end of the month before the Termination Date. If Borrower's monthly payments are not current on the Termination Date, the rate will be reduced thereafter on the first payment due date following the date on which Borrower's monthly payments become current. D. New Payment Amount If and when the Note Rate is reduced as described above, Note Holder will advise Borrower (1) of the amount of the new monthly payment that would be sufficient to repay the unpaid principal Borrower will owe on the date the Note Rate is reduced, in full on the maturity date at Borrower's new Note Rate in substantially equal payments (the result of the calculation will be Borrower's "New Payment Amount "); and (2) the date on which the New Payment Amount is to commence, which shall be the next payment due date after the First Cancellation Date, the Second Cancellation Date, or the Termination Date, as applicable. E. Original Property Value For purposes of this Low Down Payment Mortgage Rider to Security Instrument, the original property value is $ $106,000.00 Borrower acknowledges said value is: a) with respect to purchase money loans, the lesser of the purchase price or the appraised property value; or b) with respect to refinance transactions, the appraised property value if one was required, or in the absence of an appraisal at origination, Borrower's estimated value of the property. Form #525802