masking within text animator

I've been asked to do some title animation that is unfamiliar to me. I've used and reviewed a good number of (the stock) AE animated text presets but haven't encountered this particular type of text animation.

It's where in a 4 line title drops down with one line descending from behind the line above it (each line drop down after another but rapidly).  Though it cascading downwards it's almost akin telescope being extended. I don't think this was done by hand, seems like a preset.

With a friend's help I'm trying to dust-off my text animation skills which are rusty. After I brush up I'm confident I can do most of it (see attached video) except for the masking aspect where each line of text is hidden by the one inform and it drops down behind it… possible with the text animator??

Thanks,

Paul

p.s. Replying to another post, someone had suggested TypeMonkey. I have to delve into those more deeply but find they, like many of the stock AE animations, are too "showboat & gimmicky for good work-a-day use. Alternatives?

work in progress text animation

Thanks so much Brian, unfortunately I'm running AE CS 5.5

At the risk of being high-maintaince any chance you could post a version I can open in AE 5.5

Thanks for your forbearance

Paul

Thanks again Brian, I got a friend to do a Save As into AE CS 5.5

The original model employed a mask reveal vs a fade on but I'm not complaining :-) this totally nails the vibe of the thing and I'm very grateful!

Paul