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**UNITED      STATES**

**SECURITIES      AND EXCHANGE COMMISSION**

**Washington,      D.C. 20549**

**FORM      10-K**

**[X]      ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT      OF      1934**

**[        ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND      EXCHANGE ACT OF 1934**

|   | Delaware                                                                                    |   | 82-0569805                                                         |   |
|--------|---------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------|--------|
|   | (State                or other jurisdiction ofincorporation                or organization) |   | (I.R.S.                Employer Identification                No.) |   |

|   | o                Yes |   | x No |
|--------|----------------------|--------|-----------|

|   | o                Yes |   | x                No |
|--------|----------------------|--------|---------------------|

|   | x                Yes |   | o                No |
|--------|----------------------|--------|---------------------|

| Large                accelerated filer o | Accelerated                filer o |  Non-accelerated                filer x |
|------------------------------------------|------------------------------------|----------------------------------------------|

**DOCUMENTS      INCORPORATED BY      REFERENCE**

**PART      I**

**Item      1. Business.**

**Item      1A. Risk Factors.**

**Item      1B. Unresolved Staff Comments.**

**Item      2. Properties.**

**Item      3. Legal Proceedings. **

**Item      4. Submission of Matters to a Vote of Security Holders.**

**PART      II**

**Item      5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer      Purchases of Equity Securities.**

**Item      6. Selected Financial Data.**

**Item      7. Management’s Discussion and Analysis of Financial Condition and Results of      Operation.**

**Item      7A. Quantitative and Qualitative Disclosures About Market      Risk.**

**Item      8. Financial Statements and Supplementary Data.**

**Item      9. Changes in and Disagreements With Accountants on Accounting and Financial      Disclosure.**

**Item      9A. Controls and Procedures.**

**Item      9B. Other Information.**

**PART      III**

**Item      10. Directors and Executive Officers of the Registrant.**

**Item      11. Executive Compensation.**

**Item      12. Security Ownership of Certain Beneficial Owners and Management and Related      Stockholder Matters.**

**Item      13. Certain Relationships and Related Transactions.**

**Item      14. Principal Accounting Fees and Services.**

**Item        1112(b) of Regulation AB. Significant Obligors Financial        Information.**

**Item        1114(b)(2) and 1115(b) of Regulation AB. Significant Enhancement Provider        Financial Information.**

**Item        1117 of Regulation AB. Legal Proceedings.**

**Item        1119 of Regulation AB. Affiliations and Certain Relationships and Related        Transactions**

**Item        1122 of Regulation AB. Compliance with Applicable Servicing        Criteria.**

**Item        1123 of Regulation AB. Servicer Compliance Statement**

**PART      IV**

**Item      15. Exhibits, Financial Statement Schedules.**

| **Exhibit                  Number** | **Description**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|-------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 4(i)                                | The                  series 2006-C1 pooling and servicing Agreement dated as of January                  11,                  2006 among Structured Asset Securities Corporation II, as depositor                  (the “Depositor”), Wachovia Bank, National Association, as master servicer                  (the “Master Servicer”), LNR Partners, Inc., as special                  servicer (the “Special Servicer”), and LaSalle Bank National Association,                  as trustee (the “Trustee”) (the "Pooling and Servicing                  Agreement") (Previously filed as part of the Registrant’s Current                  Report on Form 8-K on February 2, 2006)* |
| 31(ii)                              | Rule                  13a-14(d)/15d-14(d) Certifications                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 33(a)                               | Report                  on Assessment of Compliance with Servicing Criteria for Asset-Backed                  Securities, Wachovia Bank, National Association, as Master                  Servicer                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 33(b)                               | Report                  on Assessment of Compliance with Servicing Criteria for Asset-Backed                  Securities, LNR Partners, Inc., as Special                  Servicer                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| 33(c)                               | Report                  on Assessment of Compliance with Servicing Criteria for Asset-Backed                  Securities, LaSalle Bank National Association, as                  Trustee                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 33(d)                               | Report                  on Assessment of Compliance with Servicing Criteria for Asset-Backed                  Securities, Global Realty Outsourcing, Inc., as servicing function                  participant                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 33(e)                               | Report                  on Assessment of Compliance with Servicing Criteria for Asset-Backed                  Securities, First American Commercial Real Estate Services, Inc.,                  as                  servicing function participant                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 34(a)                               | Attestation                  Report on Assessment of Compliance with Servicing Criteria for                  Asset-Backed Securities, Wachovia Bank, National Association, as                  Master                  Servicer                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
| 34(b)                               | Attestation                  Report on Assessment of Compliance with Servicing Criteria for                  Asset-Backed Securities,  LNR Partners, Inc., as Special                  Servicer                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 34(c)                               | Attestation                  Report on Assessment of Compliance with Servicing Criteria for                  Asset-Backed Securities, LaSalle Bank National Association, as                  Trustee                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 34(d)                               | Attestation                  Report on Assessment of Compliance with Servicing Criteria for                  Asset-Backed Securities, Global Realty Outsourcing, Inc., as servicing                  function participant                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 34(e)                               | Attestation                  Report on Assessment of Compliance with Servicing Criteria for                  Asset-Backed Securities, First American Commercial Real Estate                  Services,                  Inc., as servicing function participant                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
| 35(a)                               | Servicer                  Compliance Statement, Wachovia Bank, National Association, as Master                  Servicer                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 35(b)                               | Servicer                  Compliance Statement, LNR Partners, Inc., as Special                  Servicer                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 35(c)                               | Servicer                  Compliance Statement, LaSalle Bank National Association, as                  Trustee                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |

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**SIGNATURES**

|                                  | Structured                  Asset Securities Corporation II |
|---------------------------------------|-------------------------------------------------------------|
|                                  |                                                        |
|  March                  29, 2007 |                     /s/ Ken Cohen                 |
|                                  | By: Ken                  Cohen                         |
|                                  | Title: Managing                  Director              |
|                                  |                                                        |
|                                  | Structured                  Asset Securities Corporation II |
|                                  |                                                        |
|                                  |                     /s/ Paul Hughson              |
|                                  | By: Paul                  Hughson                      |
|                                  | Title: Managing                  Director              |

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**Supplemental            Information to be Furnished With Reports Filed Pursuant to Section 15(d)            of the            Act by Registrants Which Have Not Registered Securities Pursuant to Section            12            of the Act**

| (a) | (1)                      No annual report is provided to the certificateholders. |
|-----|----------------------------------------------------------------------------------|

**EXHIBIT      INDEX**

| **Exhibit                  Number** | **Description**                                                                                                                                                                                                                                                 |
|-------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 4(i)                                | The                  Pooling and Servicing Agreement (Previously filed as part of the                  Registrant’s Current Report on Form 8-K on February 2,                  2006)*                                                                |
| 31(ii)                              | Rule                  13a-14(d)/15d-14(d) Certifications                                                                                                                                                                                                        |
| 33(a)                               | Report                  on Assessment of Compliance with Servicing Criteria for Asset-Backed                  Securities, Wachovia Bank, National Association, as Master                  Servicer                                                              |
| 33(b)                               | Report                  on Assessment of Compliance with Servicing Criteria for Asset-Backed                  Securities, LNR Partners, Inc., as Special                  Servicer                                                                         |
| 33(c)                               | Report                  on Assessment of Compliance with Servicing Criteria for Asset-Backed                  Securities, LaSalle Bank National Association, as                  Trustee                                                                   |
| 33(d)                               | Report                  on Assessment of Compliance with Servicing Criteria for Asset-Backed                  Securities, Global Realty Outsourcing, Inc., as servicing function                  participant                                                   |
| 33(e)                               | Report                  on Assessment of Compliance with Servicing Criteria for Asset-Backed                  Securities, First American Commercial Real Estate Services, Inc.,                  as                  servicing function participant             |
| 34(a)                               | Attestation                  Report on Assessment of Compliance with Servicing Criteria for                  Asset-Backed Securities, Wachovia Bank, National Association, as                  Master                  Servicer                                 |
| 34(b)                               | Attestation                  Report on Assessment of Compliance with Servicing Criteria for                  Asset-Backed Securities,  LNR Partners, Inc., as Special                  Servicer                                                       |
| 34(c)                               | Attestation                  Report on Assessment of Compliance with Servicing Criteria for                  Asset-Backed Securities, LaSalle Bank National Association, as                  Trustee                                                       |
| 34(d)                               | Attestation                  Report on Assessment of Compliance with Servicing Criteria for                  Asset-Backed Securities, Global Realty Outsourcing, Inc., as servicing                  function participant                                       |
| 34(e)                               | Attestation                  Report on Assessment of Compliance with Servicing Criteria for                  Asset-Backed Securities, First American Commercial Real Estate                  Services,                  Inc., as servicing function participant |
| 35(a)                               | Servicer                  Compliance Statement, Wachovia Bank, National Association, as Master                  Servicer                                                                                                                                        |
| 35(b)                               | Servicer                  Compliance Statement, LNR Partners, Inc., as Special                  Servicer                                                                                                                                                        |
| 35(c)                               | Servicer                  Compliance Statement, LaSalle Bank National Association, as                  Trustee                                                                                                                                                  |

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