Structured Adjustable Rate Mortgage Loan Trust Series 2006-7 Sample Contracts

AURORA LOAN SERVICES LLC, as Servicer LEHMAN BROTHERS HOLDINGS INC., as Seller and AURORA LOAN SERVICES LLC as Master Servicer Structured Adjustable Rate Mortgage Loan Trust Mortgage Pass-Through Certificates, Series 2006-7 SERVICING AGREEMENT Dated...
Servicing Agreement • August 14th, 2006 • Structured Adjustable Rate Mortgage Loan Trust Series 2006-7 • Asset-backed securities • New York

THIS SERVICING AGREEMENT (this “Agreement”), entered into as of the 1st day of July, 2006, by and between LEHMAN BROTHERS HOLDINGS INC., a Delaware corporation (the “Seller”), AURORA LOAN SERVICES LLC, a Delaware limited liability company (the “Servicer”), and AURORA LOAN SERVICES LLC, as Master Servicer under the Trust Agreement (as defined herein) recites and provides as follows:

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LEHMAN BROTHERS HOLDINGS INC., SELLER and STRUCTURED ASSET SECURITIES CORPORATION, PURCHASER MORTGAGE LOAN SALE AND ASSIGNMENT AGREEMENT Dated as of July 1, 2006 Structured Adjustable Rate Mortgage Loan Trust (Mortgage Pass- Through Certificates,...
Mortgage Loan Sale and Assignment Agreement • August 14th, 2006 • Structured Adjustable Rate Mortgage Loan Trust Series 2006-7 • Asset-backed securities • New York

This MORTGAGE LOAN SALE AND ASSIGNMENT AGREEMENT, dated as of July 1, 2006 (the “Agreement”), is executed by and between Lehman Brothers Holdings Inc. (the “Seller”) and Structured Asset Securities Corporation (the “Depositor”).

RECONSTITUTED SERVICING AGREEMENT
Reconstituted Servicing Agreement • August 14th, 2006 • Structured Adjustable Rate Mortgage Loan Trust Series 2006-7 • Asset-backed securities • New York
Lehman Brothers Bank, FSB, Purchaser and Countrywide Home Loans, Inc., Company
Assignment and Assumption • August 14th, 2006 • Structured Adjustable Rate Mortgage Loan Trust Series 2006-7 • Asset-backed securities • New York

This is a Flow Seller’s Warranties and Servicing Agreement for conventional residential first lien mortgage loans, dated and effective as of June 1, 2004, and is executed between Lehman Brothers Bank, FSB, as purchaser (the “Purchaser”), and Countrywide Home Loans, Inc., as seller and servicer (the “Company”).

SERVICING AGREEMENT By and Between WASHINGTON MUTUAL BANK, FA (Servicer) and LEHMAN BROTHERS BANK, FSB (Owner) Dated as of September 1, 2003 Residential First Lien Mortgage Loans Schedule/Schedule Flow Delivery Program
Servicing Agreement • August 14th, 2006 • Structured Adjustable Rate Mortgage Loan Trust Series 2006-7 • Asset-backed securities • New York

Washington Mutual Bank, FA (the “Servicer”) hereby certifies that it has established an account meeting the requirements of Section 2.6 of the Servicing Agreement dated as of September 1, 2003, between the Servicer and the Owner named therein.

RECONSTITUTED SERVICING AGREEMENT
Reconstituted Servicing Agreement • August 14th, 2006 • Structured Adjustable Rate Mortgage Loan Trust Series 2006-7 • Asset-backed securities • New York

THIS RECONSTITUTED SERVICING AGREEMENT (this “Agreement” or the “Reconstituted Servicing Agreement”), entered into as of July 1, 2006, by and between LEHMAN BROTHERS HOLDINGS INC., a Delaware corporation (the “Seller” or “Lehman Brothers Holdings”) and WASHINGTON MUTUAL BANK (formerly known as Washington Mutual Bank, FA) (the “Servicer”), a savings association organized under the laws of the United States, and acknowledged by AURORA LOAN SERVICES LLC, a Delaware limited liability company (“Aurora”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association, solely in its capacity as Trustee under the Trust Agreement identified below (in such capacity, the “Trustee”), recites and provides as follows recites and provides as follows:

STRUCTURED ADJUSTABLE RATE MORTGAGE LOAN TRUST MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-7 TERMS AGREEMENT
Terms Agreement • August 14th, 2006 • Structured Adjustable Rate Mortgage Loan Trust Series 2006-7 • Asset-backed securities

To: Structured Asset Securities Corporation, as Depositor under the Trust Agreement dated as of July 1, 2006 (the “Trust Agreement”).

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