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Mortgage Loan Sale and Assignment Agreement

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Title:

Mortgage Loan Sale and Assignment Agreement

Entities:

Freddie Mac; Lehman Brothers Bank; Lehman Mortgage Trust 2006-7; U.S. Bank, NA; Wells Fargo Bank, NA; Federal National Mortgage Association; Bank of America, NA; Lehman Brothers Holdings Inc.

Date:

2006

Size:

61KB total

Price:

$45

ID:

#2627062

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LEHMAN BROTHERS HOLDINGS INC.,

SELLER

and

STRUCTURED ASSET SECURITIES CORPORATION,

PURCHASER

MORTGAGE LOAN SALE AND ASSIGNMENT AGREEMENT

Dated as of October 1, 2006

Lehman Mortgage Trust

(Mortgage Pass-Through Certificates, Series 2006-7)

TABLE OF CONTENTS

Page


ARTICLE I. CONVEYANCE OF MORTGAGE LOANS			4

	Section 1.01.	Sale of Mortgage Loans.	4
	Section 1.02.	Delivery of Documents.	5
	Section 1.03.	Review of Documentation.	5
	Section 1.04.	Representations and Warranties of the Seller.	5
	Section 1.05.	Grant Clause.	15
	Section 1.06.	Assignment by Depositor.	16

ARTICLE II. MISCELLANEOUS PROVISIONS			16

	Section 2.01.	Binding Nature of Agreement; Assignment.	16
	Section 2.02.	Entire Agreement.	16
	Section 2.03.	Amendment.	16
	Section 2.04.	Governing Law.	17
	Section 2.05.	Severability of Provisions.	17
	Section 2.06.	Indulgences; No Waivers.	17
	Section 2.07.	Headings Not to Affect Interpretation.	18
	Section 2.08.	Benefits of Agreement.	18
	Section 2.09.	Counterparts.	18

SCHEDULES

SCHEDULE A	Transferred Mortgage Loan Schedule (including Prepayment Charge Schedule)
SCHEDULE B	Bank Originated Mortgage Loan Schedule (including Prepayment Charge Schedule)
EXHIBIT A	Certain Defined Terms
EXHIBIT B	Form of Terms Letter

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

All capitalized terms not defined herein or in Exhibit A attached hereto shall have the same meanings assigned to such terms in that certain trust agreement dated as of October 1, 2006 (the Trust Agreement), among the Depositor, Aurora Loan Services LLC, as master servicer (the Master Servicer), HSBC Bank USA, National Association, as trustee (the Trustee) and Wells Fargo Bank, N.A., as securities administrator (the Securities Administrator).

WITNESSETH:

WHEREAS, Lehman Brothers Bank, FSB (the Bank), pursuant to the following specified mortgage loan purchase and warranties agreements (each, a Bank Transfer Agreement and collectively, the Transfer Agreements), has purchased or received from certain transferors identified below (each, a Bank Transferor and collectively the Transferors) certain mortgage loans, each identified on the Mortgage Loan Schedule attached hereto as Schedule A-1 (the Transferred Mortgage Loans):

1)	Master Mortgage Loan Purchase and Warranties Agreement by and between the Bank and First National Bank of Nevada dated as of August 27, 2004 and amended as of May 17, 2006 and May 22, 2006;

2)	Master Mortgage Loan Purchase and Warranties Agreement by and between the Bank and First National Bank of Nevada dated as of November 15, 2000 and Amendment No. 1 dated as of September 7, 2001;

3)	Sale, Warranties and Interim Servicing Agreement by and between the Bank and ABN AMRO Mortgage Group, Inc. dated as of December 1, 2004;

4)	Flow Mortgage Loan Purchase and Warranties Agreement by and between Bay Capital Corporation and the Bank dated as of September 20, 2004;

5)	Asset Purchase and Interim Servicing Agreement by and between GE Mortgage Services, LLC and the Bank dated as of October 31, 2004;

6)	Mortgage Loan Purchase Agreement by and between the Bank and Liberty Savings Bank, FSB as Seller and Liberty Lending Services, Inc. dated as of March 31, 2002;

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