0001144204-07-001087 Sample Contracts

FIRST HORIZON ASSET SECURITIES INC. Depositor FIRST HORIZON HOME LOAN CORPORATION Master Servicer and THE BANK OF NEW YORK Trustee

Pooling and Servicing Agreement • January 9th, 2007 • First Horizon Asset Sec Mort Pass THR Certs Ser 2006-Aa8 • Asset-backed securities • Delaware

• Contract Type
  Pooling and Servicing Agreement
• Filed
  January 9th, 2007
• Company
  First Horizon Asset Sec Mort Pass THR Certs Ser 2006-Aa8
• Industry
  Asset-backed securities
• Jurisdiction
  Delaware

THIS POOLING AND SERVICING AGREEMENT, dated as of December 1, 2006, among FIRST HORIZON ASSET SECURITIES INC., a Delaware corporation, as depositor (the “Depositor”), FIRST HORIZON HOME LOAN CORPORATION, a Kansas corporation, as master servicer (the “Master Servicer”), and THE BANK OF NEW YORK, a banking corporation organized under the laws of the State of New York, as trustee (the “Trustee”).

MORTGAGE LOAN PURCHASE AGREEMENT

Mortgage Loan Purchase Agreement • January 9th, 2007 • First Horizon Asset Sec Mort Pass THR Certs Ser 2006-Aa8 • Asset-backed securities • Texas

• Contract Type
  Mortgage Loan Purchase Agreement
• Filed
  January 9th, 2007
• Company
  First Horizon Asset Sec Mort Pass THR Certs Ser 2006-Aa8
• Industry
  Asset-backed securities
• Jurisdiction
  Texas

THIS MORTGAGE LOAN PURCHASE AGREEMENT dated as of December 28, 2006 by and between FIRST HORIZON HOME LOAN CORPORATION, a Kansas corporation (the “Seller”), and FIRST HORIZON ASSET SECURITIES INC. (the “Purchaser”).

FIRST HORIZON ASSET SECURITIES INC. MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2006-AA8 TERMS AGREEMENT (to Underwriting Agreement, dated February 24, 2006 among the Company, First Horizon Home Loan Corporation and the Underwriter)

Terms Agreement • January 9th, 2007 • First Horizon Asset Sec Mort Pass THR Certs Ser 2006-Aa8 • Asset-backed securities

• Contract Type
  Terms Agreement
• Filed
  January 9th, 2007
• Company
  First Horizon Asset Sec Mort Pass THR Certs Ser 2006-Aa8
• Industry
  Asset-backed securities

Credit Suisse Securities (USA) LLC (the “Underwriter”) agrees, subject to the terms and provisions herein and of the captioned Underwriting Agreement (the “Underwriting Agreement”), to purchase such Classes of First Horizon Alternative Mortgage Securities Trust 2006-AA8, Mortgage Pass-Through Certificates, Series 2006-AA8 (the “Series 2006-AA8 Certificates”) specified in Section 2(a) hereof (the “Offered Certificates”) specified in Section 2(a) hereof (the “Offered Certificates”). This letter supplements and modifies the Underwriting Agreement solely as it relates to the purchase and sale of the Offered Certificates described below. The Series 2006-AA8 Certificates are registered with the Securities and Exchange Commission by means of an effective Registration Statement (No. 333-132046). Capitalized terms used and not defined herein have the meanings given them in the Underwriting Agreement.