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200702149 For purposes of the First Cancellation Date, Borrower is current if the payment due in the month before the First Cancellation Date, all prior monthly payments, and any outstanding late charges have been paid by the end of the month before the First Cancellation Date. In addition, Borrower will have demonstrated a Good Payment History if Borrower has had neither (I) a payment thirty (30) days or more past due in the twelve (12) months preceding the payment due date immediately prior to 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. B. Second Cancellation Date The "Second 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 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. 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 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: (I) 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 LDPF will be terminated thereafter on the first payment due date following the date on which Borrower's monthly payments become current 06790172 (06.09.OS) ff5 ~