0001162318-06-000672 Sample Contracts

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MORTGAGE LOAN PURCHASE AGREEMENT
Mortgage Loan Purchase Agreement • May 19th, 2006 • First Franklin Mortgage Loan Trust 2006-Ff5 • Asset-backed securities • New York

This Mortgage Loan Purchase Agreement (the “Agreement”), dated as of April 1, 2006, is between HSI Asset Securitization Corporation, a Delaware corporation (the “Company”), and HSBC Bank USA, National Association, a national banking association (the “Seller”).

Rate Swap Transaction Re: ABN AMRO Bank N.V. Reference No. 2440375
Rate Swap Transaction • May 19th, 2006 • First Franklin Mortgage Loan Trust 2006-Ff5 • Asset-backed securities • New York

This Agreement is subject to the 2000 ISDA Definitions (the “Definitions”), as published by the International Swaps and Derivatives Association, Inc. (“ISDA”). You and we have agreed to enter into this Agreement in lieu of negotiating a Schedule to the 1992 ISDA Master Agreement (Multicurrency—Cross Border) form (the “ISDA Form Master Agreement”) but, rather, an ISDA Form Master Agreement, as modified by the Schedule terms in Section 4 of this Confirmation (the “Master Agreement”), shall be deemed to have been executed by you and us on the date we entered into the Transaction. In the event of any inconsistency between the provisions of this Agreement and the Definitions or the ISDA Form Master Agreement, this Agreement shall prevail for purposes of the Transaction. Terms capitalized but not defined herein shall have the meaning attributed to them in the Pooling and Servicing Agreement.

Rate Cap Transaction Re: ABN AMRO Bank, N.V. Reference No. 2440376
Rate Cap Transaction • May 19th, 2006 • First Franklin Mortgage Loan Trust 2006-Ff5 • Asset-backed securities • New York

The purpose of this letter agreement (“Agreement”) is to confirm the terms and conditions of the Rate Cap Transaction entered into on the Trade Date specified below (the “Transaction”) between ABN AMRO Bank, N.V. (“ABN AMRO”) and the Supplemental Interest Trust of First Franklin Mortgage Loan Trust 2006-FF5 (the “Counterparty”), as represented by Wells Fargo Bank, N.A. not in its individual capacity, but solely as securities administrator ( the “Securities Administrator”) of the Supplemental Interest Trust created under the Pooling and Servicing Agreement, dated and effective April 1, 2006, among HSI Asset Securitization Corporation, as depositor (the “Depositor”), the Securities Administrator, Wells Fargo Bank, N.A. in the additional capacities of master servicer and custodian, First Franklin Financial Corporation, as mortgage loan seller, National City Home Loan Services, Inc., as servicer of the mortgage loans, and Deutsche Bank National Trust Company, as trustee (the “Pooling and S

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