Document:

Execution Copy
                                   ASSIGNMENT AND ASSUMPTION AGREEMENT

         ASSIGNMENT AND ASSUMPTION  AGREEMENT,  dated as of August 25, 2006, between  Residential  Funding
Corporation,  a Delaware  corporation  ("RFC") and Residential  Asset Securities  Corporation,  a Delaware
corporation (the "Company").

                                                 Recitals

         A.       RFC has entered into seller  contracts  ("Seller  Contracts")  with certain  sellers and
servicers.

         B.       The  Company  wishes  to  purchase  from RFC  certain  Mortgage  Loans  (as  hereinafter
defined) originated pursuant to the Seller Contracts.

         C.       The Company,  RFC, as master servicer,  and U.S. Bank National  Association,  as trustee
(the  "Trustee"),  are entering into a Pooling and  Servicing  Agreement  dated as of August 1,  2006 (the
"Pooling and Servicing  Agreement"),  pursuant to which the Trust  proposes to issue Home Equity  Mortgage
Asset-Backed  Pass-Through  Certificates,  Series  2006-EMX7  (the  "Certificates")  consisting of fifteen
classes  designated  as Class A-1,  Class A-2,  Class A-3,  Class A-4,  Class M-1,  Class M-2,  Class M-3,
Class M-4,  Class M-5,  Class M-6,  Class M-7,  Class M-8,  Class M-9,  Class SB and Class R  representing
beneficial  ownership  interests  solely in a trust fund consisting  primarily of a pool of adjustable and
fixed rate  one-to  four-family  first and  junior  lien  mortgage  loans  identified  on Exhibit F to the
Pooling and Servicing Agreement (the "Mortgage Loans").

         D.       In connection  with the purchase of the Mortgage  Loans,  the Company will assign to RFC
the Class SB and Class R Certificates (the "Retained Certificates").

         E.       In  connection  with  the  purchase  of the  Mortgage  Loans  and  the  issuance  of the
Certificates, RFC wishes to make certain representations and warranties to the Company.

         F.       The Company and RFC intend that the  conveyance  by RFC to the Company of all its right,
title and interest in and to the Mortgage  Loans pursuant to this  Agreement  shall  constitute a purchase
and sale and not a loan.

         NOW THEREFORE,  in  consideration  of the recitals and the mutual  promises herein and other good
and valuable consideration, the parties agree as follows:

         1.       All  capitalized  terms used but not defined  herein  shall have the  meanings  assigned
thereto in the Pooling and Servicing Agreement.

         2.       Concurrently  with the execution and delivery hereof,  RFC hereby assigns to the Company
without  recourse  all of its right,  title and  interest  in and to the  Mortgage  Loans,  including  all
interest and  principal  received on or with  respect to the Mortgage  Loans after the Cut-off Date (other
than payments of principal and interest due on the Mortgage Loans in August,  2006). In  consideration  of
such  assignment,  RFC will receive from the Company,  in immediately  available funds, an amount equal to
$494,061,750.00  and the Retained  Certificates.  In connection  with such assignment and at the Company's
direction,  RFC has in respect of each Mortgage  Loan  endorsed the related  Mortgage Note (other than any
Destroyed Mortgage Note,  hereinafter  defined) to the order of the Trustee and delivered an assignment of
mortgage in  recordable  form to the Trustee or its agent.  A "Destroyed  Mortgage  Note" means a Mortgage
Note the original of which was permanently lost or destroyed.

         The  Company  and RFC intend that the  conveyance  by RFC to the Company of all its right,  title
and interest in and to the  Mortgage  Loans  pursuant to this  Section 2 shall be, and be construed  as, a
sale of the Mortgage Loans by RFC to the Company.  It is,  further,  not intended that such  conveyance be
deemed to be a pledge of the  Mortgage  Loans by RFC to the  Company to secure a debt or other  obligation
of RFC.  Nonetheless  (a)  this  Agreement  is  intended  to be and  hereby  is  deemed  to be a  security
agreement  within  the  meaning of  Articles  8 and 9 of the  Minnesota  Uniform  Commercial  Code and the
Uniform  Commercial Code of any other  applicable  jurisdiction;  (b) the conveyance  provided for in this
Section  shall be deemed to be a grant by RFC to the Company of a security  interest in all of RFC's right
(including  the  power to convey  title  thereto),  title and  interest,  whether  now owned or  hereafter
acquired,  in and to (A) the  Mortgage  Loans,  including the Mortgage Notes,  the Mortgages,  any related
insurance  policies  and all other  documents  in the related  Mortgage  Files,  (B) all  amounts  payable
pursuant  to the  Mortgage  Loans  in  accordance  with  the  terms  thereof  and (C) any and all  general
intangibles  consisting  of,  arising  from or relating to any of the  foregoing,  and all proceeds of the
conversion,  voluntary or  involuntary,  of the  foregoing  into cash,  instruments,  securities  or other
property,  including,  without  limitation,  all  amounts  from  time to  time  held  or  invested  in the
Certificate  Account or the Custodial  Account,  whether in the form of cash,  instruments,  securities or
other  property;  (c) the  possession  by the Trustee,  the Custodian or any other agent of the Trustee of
Mortgage  Notes or such other items of property as constitute  instruments,  money,  payment  intangibles,
negotiable  documents,  goods,  deposit  accounts,  letters  of  credit,  advices  of  credit,  investment
property,  certificated  securities  or chattel  paper  shall be deemed to be  "possession  by the secured
party," or  possession  by a purchaser  or a person  designated  by such  secured  party,  for purposes of
perfecting  the  security  interest  pursuant to the  Minnesota  Uniform  Commercial  Code and the Uniform
Commercial  Code of any other  applicable  jurisdiction  (including  without  limitation,  Sections 8-106,
9-313 and 9-106 thereof);  and  (d) notifications  to persons holding such property,  and acknowledgments,
receipts or  confirmations  from  persons  holding such  property,  shall be deemed  notifications  to, or
acknowledgments,  receipts  or  confirmations  from,  financial  intermediaries,  bailees  or  agents  (as
applicable)  of the Trustee for the purpose of perfecting  such security  interest under  applicable  law.
RFC  shall,  to the  extent  consistent  with this  Agreement,  take  such  reasonable  actions  as may be
necessary  to ensure that,  if this  Agreement  were deemed to create a security  interest in the Mortgage
Loans and the other property  described  above,  such security  interest would be deemed to be a perfected
security  interest of first  priority under  applicable law and will be maintained as such  throughout the
term of this Agreement.  Without  limiting the generality of the foregoing,  RFC shall prepare and deliver
to the  Company not less than 15 days prior to any filing  date,  and the  Company  shall  file,  or shall
cause to be filed,  at the expense of RFC,  all filings  necessary to maintain  the  effectiveness  of any
original filings  necessary under the Uniform  Commercial Code as in effect in any jurisdiction to perfect
the  Company's  security  interest in or lien on the  Mortgage  Loans  including  without  limitation  (x)
continuation  statements,  and (y) such other statements as may be occasioned by (1) any change of name of
RFC or the Company,  (2) any change of location of the state of formation,  place of business or the chief
executive office of RFC, or (3) any transfer of any interest of RFC in any Mortgage Loan.

         3.       Concurrently  with the execution and delivery hereof,  the Company hereby assigns to RFC
without recourse all of its right,  title and interest in and to the Retained  Certificates as part of the
consideration payable to RFC by the Company pursuant to this Agreement.

         4.       RFC represents  and warrants to the Company,  with respect to each Mortgage Loan that on
the date of execution hereof (or, if otherwise specified below, as of the date so specified),

                  (i)          Immediately  prior to the  delivery of the  Mortgage  Loans to the Company,
RFC had good title to, and was the sole owner of, each  Mortgage  Loan free and clear of any pledge,  lien
or security  interest  (other than (a) rights to servicing  and related  compensation,  and (b) any senior
lien relating to a Mortgage Loan listed on Exhibit A attached  hereto (the "Junior Lien Mortgage  Loans"))
and had full right and authority to sell and assign the Mortgage Loans pursuant to this Agreement.

                  (ii)         The proceeds of the Mortgage  Loan have been fully  disbursed,  there is no
requirement  for future advances  thereunder and any and all  requirements as to completion of any on-site
or off-site  improvements  and as to  disbursements  of any escrow funds  therefor  (including  any escrow
funds held to make Monthly  Payments  pending  completion of such  improvements)  have been complied with.
All costs, fees and expenses incurred in making, closing or recording the Mortgage Loans were paid.

                  (iii)        The Mortgagor  (including any party  secondarily  liable under the Mortgage
File) has no right of set-off,  defense,  counterclaim  or right of  rescission  as to any document in the
Mortgage File except as may be provided under the Relief Act.

                  (iv)         RFC and any other  originator,  servicer  or other  previous  owner of each
Mortgage  Loan has obtained all licenses and  effected all  registrations  required  under all  applicable
local, state and federal laws,  regulations and orders,  including without limitation truth in lending and
disclosure  laws,  necessary to own or originate  the Mortgage  Loans (the failure to obtain such licenses
or to comply with such laws, regulations and orders would make such Mortgage Loans void or voidable).

                  (v)          A policy of title  insurance,  in the form and amount  that is in  material
compliance  with the Program  Guide,  was effective as of the closing of each Mortgage  Loan, is valid and
binding,  and remains in full force and effect  except for  Mortgaged  Properties  located in the State of
Iowa where an attorney's  certificate  has been provided in accordance  with the Program Guide.  No claims
have been made under such title  insurance  policy and no holder of the related  mortgage,  including RFC,
has done or omitted to do anything which would impair the coverage of such title insurance policy.

                  (vi)         Each  Mortgage Loan is a valid and  enforceable  first lien (or in the case
of the Junior Lien Mortgage  Loans,  junior lien) on the Mortgaged  Property  subject only to (1) the lien
of   nondelinquent   current  real  property  taxes  and  assessments,   (2)  covenants,   conditions  and
restrictions,  rights of way,  easements and other matters of public record as of the date of recording of
such Mortgage,  such  exceptions  appearing of record being  acceptable to mortgage  lending  institutions
generally or  specifically  reflected in the appraisal  made in  connection  with the  origination  of the
related  Mortgage  Loan, and (3) other matters to which like  properties are commonly  subject that do not
materially interfere with the benefits of the security intended to be provided by such Mortgage.

                  (vii)        All  improvements  which were considered in determining the Appraised Value
of the  Mortgaged  Property lie wholly within the  boundaries  and the building  restriction  lines of the
Mortgaged  Premises,  or the policy of title  insurance  affirmatively  insures  against loss or damage by
reason of any  violation,  variation,  encroachment  or adverse  circumstance  that either is disclosed or
would have been disclosed by an accurate survey.

                  (viii)       There are no  delinquent  tax or  delinquent  assessment  liens against the
related  Mortgaged  Property,  and there are no mechanic's  liens or claims for work, labor or material or
any other liens  affecting  such  Mortgaged  Property  which are or may be a lien prior to, or equal with,
the lien of the Mortgage  assigned to RFC,  except  those liens that are insured  against by the policy of
title insurance and described in (v) above.

                  (ix)         Each  Mortgaged  Property is free of material  damage and is in good repair
and no notice of condemnation has been given with respect thereto.

                  (x)          The  improvements  upon the Mortgaged  Property are insured against loss by
fire and other hazards as required by the Program Guide,  including  flood insurance if required under the
National  Flood  Insurance Act of 1968, as amended.  The Mortgage  requires the Mortgagor to maintain such
casualty  insurance at the Mortgagor's  expense,  and on the Mortgagor's  failure to do so, authorizes the
holder of the  Mortgage to obtain and  maintain  such  insurance  at the  Mortgagor's  expense and to seek
reimbursement therefore from the Mortgagor.

                  (xi)         The   appraisal   was  made  by  an   appraiser   who  meets  the   minimum
qualifications for appraisers as specified in the Program Guide.

                  (xii)        Each  Mortgage  Note and Mortgage  constitutes  a legal,  valid and binding
obligation of the Mortgagor  enforceable  in  accordance  with its terms except as limited by  bankruptcy,
insolvency or other similar laws affecting generally the enforcement of creditors' rights.

                  (xiii)       Each Mortgage Loan is covered by a standard hazard insurance policy.

                  (xiv)        None of the Mortgage Properties are secured by a leasehold estate.

                  (xv)         The  information  set forth on the Mortgage  Loan  Schedule with respect to
each  Mortgage  Loan is true and  correct  in all  material  respects  as of the date or dates  which such
information is furnished.

                  (xvi)        As of the  Cut-off  Date,  approximately  0.1% of the  Mortgage  Loans  are
Delinquent  in payment of principal or interest by 30 to 59 days.  As of the Cut-Off  Date,  approximately
0.1% of the Mortgage  Loans have been a maximum of 30 to 59 days  Delinquent  in payment of principal  and
interest in the last 12 months.  As of the Cut-Off  Date,  none of the Mortgage  Loans are currently 60 or
more days  Delinquent in payment of principal and interest.  As of the Cut-Off Date,  none of the Mortgage
Loans have been a maximum of 60 or more days  Delinquent  in payment of principal and interest in the last
12  months.  For the  purposes  of this  representation  a Mortgage  Loan is  considered  Delinquent  if a
Subservicer  or the  Master  Servicer  has made any  advances  on the  Mortgage  Loan  that  have not been
reimbursed  out of payments  by the  mortgagor  or on the  mortgagor's  behalf from a source  other than a
Subservicer, a Seller, the Master Servicer or an affiliated entity of either.

                  (xvii)       None  of  the  Mortgage  Loans  with  Loan-to-Value   Ratios,  or  combined
Loan-to-Value  Ratios with respect to Junior Lien Loans,  at origination in excess of 80% are insured by a
borrower-paid, primary mortgage insurance policy.

                  (xviii)      The  weighted  average  Loan-to-Value  Ratio with  respect to the  Mortgage
Loans, by outstanding principal balance at origination, is 83.6%.

                  (xix)        No more than  approximately  0.4% of the  Mortgage  Loans,  by  outstanding
principal  balance as of the  Cut-off  Date,  are  located  in any one zip code area in New York.  No more
than  approximately  0.3% of the Mortgage  Loans by outstanding  principal  balance as of the Cut-off Date
are located in any one zip code area outside of New York.

                  (xx)         All of the  Mortgage  Loans  that are  adjustable-rate  loans  will  adjust
semi-annually  based on Six-Month LIBOR.  Each of the Mortgage Loans that are  adjustable-rate  loans will
adjust on the Adjustment  Date specified in the related  Mortgage Note to a rate equal to the sum (rounded
as described in the related  Mortgage Note) of the related Index  described in the  Prospectus  Supplement
and the Note Margin set forth in the related  Mortgage Note,  subject to the limitations  described in the
Prospectus  Supplement,  and each  Mortgage  Loan has an original  term to maturity from the date on which
the first monthly payment is due of not more than  approximately  30 years.  On each Adjustment  Date, the
Mortgage  Rate on each  Mortgage  Loan  that is an  adjustable-rate  loan  will be  adjusted  to equal the
related Index plus the related  Gross Margin,  subject in each case to the Periodic Rate Cap, the Mortgage
Rate and the Minimum  Mortgage  Rate.  The amount of the monthly  payment on each Mortgage Loan that is an
adjustable-rate  loan will be  adjusted  on the first  day of the month  following  the month in which the
Adjustment  Date occurs to equal the amount  necessary  to pay  interest at the  then-applicable  Mortgage
Rate to fully  amortize the  outstanding  principal  balance of such Mortgage Loan over its remaining term
to stated maturity.  No Mortgage Loan is subject to negative amortization.

                  (xxi)        With  respect to each  Mortgage  constituting  a deed of trust,  a trustee,
duly  qualified  under  applicable  law to serve as such,  has been properly  designated  and currently so
serves and is named in such  Mortgage,  and no fees or expenses  are or will become  payable by the holder
of the Mortgage Loan to the trustee under the deed of trust,  except in connection  with a trustee's  sale
after default by the Mortgagor.

                  (xxii)       Approximately 13.3% of the Mortgaged  Properties (by outstanding  principal
balance as of the Cut-off Date), are units in detached planned unit  developments.  Approximately  2.9% of
the  Mortgaged  Properties  (by  outstanding  principal  balance  as of the  Cut-off  Date),  are units in
attached  planned unit  developments.  Approximately  1.7% of the  Mortgaged  Properties  (by  outstanding
principal  balance as of the Cut-off  Date),  are units in  townhouses.  None of the Mortgaged  Properties
are units in  manufactured  housing  developments.  Approximately  6.6% of the  Mortgaged  Properties  (by
outstanding  principal  balance as of the Cut-off Date), are condominium  units.  Each Mortgaged  Property
is suitable for year-round occupancy.

                  (xxiii)      Approximately 95.2% of the Mortgaged  Properties (by outstanding  principal
balance as of the Cut-off Date) are secured by the owner's primary  residence.  Approximately  1.5% of the
Mortgaged  Properties  (by  outstanding  principal  balance  as of the  Cut-off  Date) are  secured by the
owner's second or vacation  residence.  Approximately  3.3% of the Mortgaged  Properties  (by  outstanding
principal balance as of the Cut-off Date) are secured by a non-owner occupied residence.

                  (xxiv)       Approximately 65.5% of the Mortgaged  Properties (by outstanding  principal
balance as of the Cut-off Date), are secured by detached  one-family  dwelling units.  Approximately 10.1%
of the Mortgaged  Properties (by  outstanding  principal  balance as of the Cut-off Date),  are secured by
two- to four-family dwelling units.

                  (xxv)        The  average  outstanding  principal  balance  of  the  Mortgage  Loans  at
origination was  approximately  $159,378.  No Mortgage Loan at origination had a principal balance of less
than $10,000 or more than $1,000,000.

                  (xxvi)       As of the Cut-off  Date,  all  Mortgage  Rate  adjustments  on the Mortgage
Loans that have  reached an  Adjustment  Date have been done in  accordance  with the terms of the related
Mortgage Note.

                  (xxvii)      Any escrow  arrangements  established with respect to any Mortgage Loan are
in compliance  with all applicable  local,  state and federal laws and are in compliance with the terms of
the related Mortgage Note.

                  (xxviii)     Except as otherwise  specifically  set forth  herein,  there is no default,
breach,  violation or event of  acceleration  existing  under any  Mortgage  Note or Mortgage and no event
which,  with notice and  expiration  of any grace or cure  period,  would  constitute  a default,  breach,
violation or event of acceleration,  and no such default,  breach,  violation or event of acceleration has
been waived by RFC or by any other entity involved in originating or servicing a Mortgage Loan.

                  (xxix)       Each  Mortgage  Loan  constitutes  a  "qualified  mortgage"  under  Section
860G(a)(3)(A)  of the Code and Treasury  Regulation  Section 1.860G  2(a)(1),  (2), (4), (5), (6), (7) and
(9),  without  reliance  on the  provisions  of Treasury  Regulation  Section  1.860G  2(a)(3) or Treasury
Regulation  Section 1.860G  2(f)(2) or any other  provision that would allow a Mortgage Loan to be treated
as a "qualified  mortgage"  notwithstanding its failure to meet the requirements of Section  860G(a)(3)(A)
of the Code and Treasury Regulation Section 1.860G 2(a)(1), (2), (4), (5), (6), (7) and (9).

                  (xxx)        No more than 48.7% of the  Mortgage  Loans have been  classified  by RFC as
Credit Grade A4 Mortgage  Loans,  no more than 29.8% of the Mortgage Loans have been  classified by RFC as
Credit Grade A5 Mortgage  Loans,  no more than 10.2% of the Mortgage Loans have been  classified by RFC as
Credit Grade AX Mortgage  Loans,  no more than 5.6% of the Mortgage  Loans have been  classified by RFC as
Credit Grade AM Mortgage  Loans,  no more than 1.6% of the Mortgage  Loans have been  classified by RFC as
Credit Grade B Mortgage  Loans,  and no more than 4.3% of the Mortgage  Loans have been  classified by RFC
as Credit Grade C Mortgage Loans, in each case as described generally in the Prospectus Supplement.

                  (xxxi)       No Mortgage Loan is a graduated  payment loan or has a shared  appreciation
or contingent interest feature.

                  (xxxii)      With  respect  to  each  Mortgage  Loan,  either  (i)  each  Mortgage  Loan
contains a customary  provision for the  acceleration  of the payment of the unpaid  principal  balance of
the Mortgage  Loan in the event the related  Mortgaged  Property is sold without the prior  consent of the
mortgagee thereunder or (ii) the Mortgage Loan is assumable pursuant to the terms of the Mortgage Note.

                  (xxxiii)     No Mortgage Loan provides for deferred interest or negative amortization.

                  (xxxiv)      None of the Mortgage Loans are buydown Mortgage Loans.

                  (xxxv)       Each  Mortgaged  Property is a single  parcel of real estate with a one- to
four-unit single family residence  thereon,  a condominium unit, a manufactured  housing unit, a unit in a
townhouse,  a planned unit  development,  a leasehold or a modular home; and no Mortgage Property consists
of a mobile home or a manufactured housing unit that is not permanently affixed to its foundation.

                  (xxxvi)      No more than  approximately  30.3% of the  Mortgage  Loans (by  outstanding
principal  balance as of the  Cut-off  Date),  were made to  Mortgagors  with credit  scores as  described
generally in the Prospectus  Supplement of less than 600 excluding  Mortgagors whose credit scores are not
available  to RFC.  The  weighted  average of the credit  scores for the  Mortgage  Loans for which Credit
Scores are available to RFC was approximately 618 as of the Cut-off Date.

                  (xxxvii)     No instrument  of release or waiver has been  executed in  connection  with
the Mortgage  Loans,  and no Mortgagor  has been  released,  in whole or in part from its  obligations  in
connection with a Mortgage Loan.

                  (xxxviii)    The  weighted  average  remaining  term to stated  maturity of the Mortgage
Loans, as of the cut-off date will be  approximately  337 months.  The weighted  average  original term to
maturity of the Mortgage Loans, as of the cut-off date will be approximately 339 months.

                  (xxxix)      None of the  Mortgage  Loans are subject to the Home  Ownership  and Equity
Protection Act of 1994 ("HOEPA").

                  (xl)         To the best of RFC's  knowledge,  the  Subservicer  for each  Mortgage Loan
has  accurately  and fully  reported its borrower  credit  files to each of the Credit  Repositories  in a
timely manner.

                  (xli)        None  of the  proceeds  of any  Mortgage  Loan  were  used to  finance  the
purchase of single premium credit insurance policies.

                  (xlii)       No Mortgage  Loan has a prepayment  penalty term that extends  beyond three
years after the date of origination.

                  (xliii)      Approximately 62.5% of the Mortgage Loans are Balloon Mortgage Loans.

                  (xliv)       None of the  Mortgage  Loans  are loans  that,  under  applicable  state or
local law in effect at the time of  origination  of such Mortgage Loan, are referred to as (1) "high cost"
or  "covered"  loans or (2) any other  similar  designation  if the law imposes  greater  restrictions  or
additional legal liability for residential mortgage loans with high interest rates, points and/or fees.

                  (xlv)        [Reserved].

                  (xlvi)       Each  Mortgage  Loan as of the  time  of its  origination  complied  in all
material respects with all applicable local,  state and federal laws,  including,  but not limited to, all
applicable predatory lending laws.

                  (xlvii)      No  Mortgage  Loan was  originated  on or after  October 1, 2002 and before
March 7, 2003, which is secured by property located in the State of Georgia.

                  (xlviii)     No Mortgage Loan is a High Cost Loan or Covered  Loan,  as  applicable  (as
such terms are defined in the current  version of Appendix E of the  Standard & Poor's  Glossary  For File
Format For LEVELS®  Version  5.7  (attached  hereto as Exhibit B);  provided  that no  representation  and
warranty  is made in this clause  (xlviii)  with  respect to 0.1% of the  Mortgage  Loans (by  outstanding
principal  balance as of the Cut-off  Date),  secured by  property  located in the State of Kansas or with
respect to 0.1% of the Mortgage Loans (by outstanding  principal balance as of the Cut-off Date),  secured
by property located in the State of West Virginia.

         Upon  discovery  by RFC or upon  notice  from the  Company  or the  Trustee  of a  breach  of the
foregoing  representations  and  warranties in respect of any Mortgage  Loan, or upon the  occurrence of a
Repurchase Event (as described in Section 5 below),  which materially and adversely  affects the interests
of any holders of the Certificates,  the Certificate  Insurer or the Company in such Mortgage Loan (notice
of which  breach or  occurrence  shall be given to the  Company by RFC,  if it  discovers  the same),  RFC
shall,  within 90 days after the earlier of its discovery or receipt of notice  thereof,  either cure such
breach or Repurchase  Event in all material  respects or, except as otherwise  provided in Section 2.04 of
the Pooling and  Servicing  Agreement,  either  (i) purchase  such  Mortgage  Loan from the Trustee or the
Company,  as the case may be,  at a price  equal to the  Purchase  Price  for such  Mortgage  Loan or (ii)
substitute  a  Qualified  Substitute  Mortgage  Loan or Loans for such  Mortgage  Loan in the  manner  and
subject to the  limitations  set forth in Section  2.04 of the Pooling  and  Servicing  Agreement.  If the
breach of  representation  and warranty  that gave rise to the  obligation  to  repurchase or substitute a
Mortgage  Loan  pursuant  to this  Section 4 was the  representation  set  forth in clause  (xlvi) of this
Section  4, then RFC shall  pay to the Trust  Fund,  concurrently  with and in  addition  to the  remedies
provided  in the  preceding  sentence,  an amount  equal to any  liability,  penalty or  expense  that was
actually  incurred and paid out of or on behalf of the Trust Fund,  and that  directly  resulted from such
breach, or if incurred and paid by the Trust Fund thereafter, concurrently with such payment.

         5.       With respect to the Mortgage Loans, a repurchase event  ("Repurchase  Event") shall have
occurred if it is  discovered  that,  as of the date  hereof,  the related  Mortgage  Loan was not a valid
first lien or junior  lien in the case of a Junior  Lien Loan on the related  Mortgaged  Property  subject
only to (i) the lien of real  property  taxes and  assessments  not yet due and payable,  (ii)  covenants,
conditions,  and restrictions,  rights of way, easements and other matters of public record as of the date
of recording of such  Mortgage and such other  permissible  title  exceptions as are listed in the Program
Guide and (iii) other  matters to which like  properties  are  commonly  subject  which do not  materially
adversely affect the value, use, enjoyment or marketability of the Mortgaged Property.

         6.       RFC hereby  represents  and warrants to the Company  that with respect to each  Mortgage
Loan,  the REMIC's tax basis in each  Mortgage  Loan as of the  Closing  Date is equal to or greater  than
100% of the Stated Principal Balance thereof.

         7.       This  Agreement  shall  inure to the benefit of and be binding  upon the parties  hereto
and their  respective  successors  and assigns,  and no other  person  shall have any right or  obligation
hereunder.

         8.       RFC,  as  master  servicer  under the  Pooling  and  Servicing  Agreement  (the  "Master
Servicer"),  shall not waive (or permit a  sub-servicer  to waive) any Prepayment  Charge unless:  (i) the
enforceability  thereof shall have been limited by bankruptcy,  insolvency,  moratorium,  receivership and
other similar laws relating to creditors' rights generally,  (ii) the enforcement  thereof is illegal,  or
any local,  state or federal  agency has threatened  legal action if the  prepayment  penalty is enforced,
(iii) the  collectability  thereof  shall have been  limited  due to  acceleration  in  connection  with a
foreclosure  or other  involuntary  payment or (iv) such waiver is standard  and  customary  in  servicing
similar  Mortgage  Loans and relates to a default or a reasonably  foreseeable  default and would,  in the
reasonable  judgment of the Master Servicer,  maximize  recovery of total proceeds taking into account the
value of such  Prepayment  Charge and the  related  Mortgage  Loan.  In no event will the Master  Servicer
waive a Prepayment  Charge in connection  with a  refinancing  of a Mortgage Loan that is not related to a
default or a  reasonably  foreseeable  default.  If a Prepayment  Charge is waived,  but does not meet the
standards  described  above,  then the  Master  Servicer  is  required  to pay the  amount of such  waived
Prepayment  Charge to the holder of the Class SB  Certificates  at the time that the amount prepaid on the
related Mortgage Loan is required to be deposited into the Custodial  Account.  Notwithstanding  any other
provisions  of this  Agreement,  any  payments  made by the  Master  Servicer  in  respect  of any  waived
Prepayment  Charges  pursuant to this Section shall be deemed to be paid outside of the Trust Fund and not
part of any REMIC.
                                         [Signature page follows]

         IN WITNESS  WHEREOF,  the parties have entered into this  Assignment and Assumption  Agreement as
of the date first above written.

                                                     RESIDENTIAL FUNDING CORPORATION

                                                     By:________________________________
                                                     Name:
                                                     Title:

                                                     RESIDENTIAL ASSET SECURITIES CORPORATION

                                                     By:________________________________
                                                     Name:
                                                     Title:

                                                EXHIBIT A

                                    LIST OF JUNIOR LIEN MORTGAGE LOANS

                                        [ON FILE WITH THE TRUSTEE]

                                                EXHIBIT B

                             APPENDIX E OF THE STANDARD & POOR'S GLOSSARY FOR
                                   FILE FORMAT FOR LEVELS® VERSION 5.7

                                                                                    REVISED April 18, 2006

                  APPENDIX E - Standard & Poor's Predatory Lending Categories

                  Standard & Poor's has categorized loans governed by anti-predatory lending laws in the
Jurisdictions listed below into three categories based upon a combination of factors that include (a)
the risk exposure associated with the assignee liability and (b) the tests and thresholds set forth in
those laws. Note that certain loans classified by the relevant statute as Covered are included in
Standard & Poor's High Cost Loan Category because they included thresholds and tests that are typical of
what is generally considered High Cost by the industry.

                  Standard & Poor's High Cost Loan Categorization

---------------------------------- ------------------------------------------------- ---------------------------------
                                                                                              Category under
                                            Name of Anti-Predatory Lending                   Applicable Anti-
       State/Jurisdiction                         Law/Effective Date                      Predatory Lending Law
---------------------------------- ------------------------------------------------- ---------------------------------
Arkansas                           Arkansas Home Loan Protection Act,                High Cost Home Loan
                                   Ark. Code Ann. §§ 23-53-101 et seq.

                                   Effective July 16, 2003
---------------------------------- ------------------------------------------------- ---------------------------------
Cleveland Heights, OH              Ordinance No. 72-2003 (PSH), Mun.                 Covered Loan
                                   Code §§ 757.01 et seq.

                                   Effective June 2, 2003
---------------------------------- ------------------------------------------------- ---------------------------------
Colorado                           Consumer Equity Protection, Colo. Stat.           Covered Loan
                                   Ann. §§ 5-3.5-101 et seq.

                                   Effective for covered loans offered or entered
                                   into on or after January 1, 2003. Other
                                   provisions of the Act took effect on June 7,
                                   2002
---------------------------------- ------------------------------------------------- ---------------------------------
Connecticut                        Connecticut Abusive Home Loan                     High Cost Home Loan
                                   Lending Practices Act, Conn. Gen. Stat.
                                   §§ 36a-746 et seq.

                                   Effective October 1, 2001
---------------------------------- ------------------------------------------------- ---------------------------------
District of Columbia               Home Loan Protection Act, D.C. Code               Covered Loan
                                   §§ 26-1151.01 et seq.

                                   Effective for loans closed on or after January
                                   28, 2003
---------------------------------- ------------------------------------------------- ---------------------------------
Florida                            Fair Lending Act, Fla. Stat. Ann. §§              High Cost Home Loan
                                   494.0078 et seq.

                                   Effective October 2, 2002
---------------------------------- ------------------------------------------------- ---------------------------------

---------------------------------- ------------------------------------------------- ---------------------------------
       State/Jurisdiction                   Name of Anti-Predatory Lending                    Category under
                                                  Law/Effective Date                         Applicable Anti-
                                                                                          Predatory Lending Law
---------------------------------- ------------------------------------------------- ---------------------------------
Georgia (Oct. 1, 2002 -            Georgia Fair Lending Act, Ga. Code                High Cost Home Loan
Mar. 6, 2003)                      Ann. §§ 7-6A-1 et seq.

                                   Effective October 1, 2002 – March 6 2003
---------------------------------- ------------------------------------------------- ---------------------------------
Georgia as amended                 Georgia Fair Lending Act, Ga. Code                High Cost Home Loan
(Mar. 7, 2003 - current)           Ann. §§ 7-6A-1 et seq.

                                   Effective for loans closed on or after
                                   March 7, 2003
---------------------------------- ------------------------------------------------- ---------------------------------
HOEPA Section 32                   Home Ownership and Equity Protection              High Cost Loan
                                   Act of 1994, 15 U.S.C. § 1639, 12
                                   C.F.R. §§ 226.32 and 226.34

                                   Effective October 1, 1995, amendments
                                   October 1, 2002
---------------------------------- ------------------------------------------------- ---------------------------------
Illinois                           High Risk Home Loan Act, Ill. Comp.               High Risk Home Loan
                                   Stat. tit. 815, §§ 137/5 et seq.

                                   Effective January 1, 2004 (prior to this date,
                                   regulations under Residential
                                   Mortgage License Act effective from May 14,
                                   2001)
---------------------------------- ------------------------------------------------- ---------------------------------
Kansas                             Consumer Credit Code, Kan. Stat. Ann.             High Loan to Value Consumer
                                   §§ 16a-1-101 et seq.                              Loan (id. § 16a-3-207) and;

                                   Sections 16a-1-301 and 16a-3-207 became
                                   effective April 14, 1999;
                                   Section 16a-3-308a became effective July 1, 1999
                                                                                     ---------------------------------
                                                                                     High APR Consumer Loan (id. §
                                                                                     16a-3-308a)
---------------------------------- ------------------------------------------------- ---------------------------------
Kentucky                           2003 KY H.B. 287 – High Cost Home                 High Cost Home Loan
                                   Loan Act, Ky. Rev. Stat. §§ 360.100 et seq.

                                   Effective June 24, 2003
---------------------------------- ------------------------------------------------- ---------------------------------
Maine                              Truth in Lending, Me. Rev. Stat. tit. 9-          High Rate High Fee Mortgage
                                   A, §§ 8-101 et seq.

                                   Effective September 29, 1995 and as amended
                                   from time to time
---------------------------------- ------------------------------------------------- ---------------------------------
Massachusetts                      Part 40 and Part 32, 209 C.M.R. §§                High Cost Home Loan
                                   32.00 et seq. and 209 C.M.R. §§ 40.01 et seq.

                                   Effective March 22, 2001 and amended from time
                                   to time
---------------------------------- ------------------------------------------------- ---------------------------------
Nevada                             Assembly Bill No. 284, Nev. Rev. Stat.            Home Loan
                                   §§ 598D.010 et seq.

                                   Effective October 1, 2003
---------------------------------- ------------------------------------------------- ---------------------------------
New Jersey                         New Jersey Home Ownership Security                High Cost Home Loan
                                   Act of 2002, N.J. Rev. Stat. §§ 46:10B- 22 et
                                   seq.

                                   Effective for loans closed on or after November
                                   27, 2003
---------------------------------- ------------------------------------------------- ---------------------------------
New Mexico                         Home Loan Protection Act, N.M. Rev.               High Cost Home Loan
                                   Stat. §§ 58-21A-1 et seq.

                                   Effective as of January 1, 2004; Revised
                                   as of February 26, 2004
---------------------------------- ------------------------------------------------- ---------------------------------
New York                           N.Y. Banking Law Article 6-1                      High Cost Home Loan

                                   Effective for applications made on or after
                                   April 1, 2003
---------------------------------- ------------------------------------------------- ---------------------------------
North Carolina                     Restrictions and Limitations on High              High Cost Home Loan
                                   Cost Home Loans, N.C. Gen. Stat. §§ 24-1.1E et
                                   seq.

                                   Effective July 1, 2000; amended October 1, 2003
                                   (adding open-end lines of credit)
---------------------------------- ------------------------------------------------- ---------------------------------
Ohio                               H.B. 386 (codified in various sections of the     Covered Loan
                                   Ohio Code), Ohio Rev. Code Ann. §§ 1349.25 et
                                   seq.

                                   Effective May 24, 2002
---------------------------------- ------------------------------------------------- ---------------------------------
Oklahoma                           Consumer Credit Code (codified in various         Subsection 10 Mortgage
                                   sections of Title 14A)

                                   Effective July 1, 2000; amended effective
                                   January 1, 2004
---------------------------------- ------------------------------------------------- ---------------------------------
South Carolina                     South Carolina High Cost and                      High Cost Home Loan
                                   Consumer Home Loans Act, S.C. Code
                                   Ann. §§ 37-23-10 et seq.

                                   Effective for loans taken on or after January
                                   1, 2004
---------------------------------- ------------------------------------------------- ---------------------------------
West Virginia                      West Virginia Residential Mortgage Lender,        West Virginia Mortgage Loan Act
                                   Broker and Servicer Act, W.                       Loan
                                   Va. Code Ann. §§ 31-17-1 et seq.

                                   Effective June 5, 2002
---------------------------------- ------------------------------------------------- ---------------------------------

                  Standard & Poor's Covered Loan Categorization

---------------------------------- ------------------------------------------------- ---------------------------------
       State/Jurisdiction                   Name of Anti-Predatory Lending                    Category under
                                                                                             Applicable Anti-
                                                  Law/Effective Date                      Predatory Lending Law
---------------------------------- ------------------------------------------------- ---------------------------------
Georgia (Oct. 1, 2002 -            Georgia Fair Lending Act, Ga. Code                Covered Loan
Mar. 6, 2003)                      Ann. §§ 7-6A-1 et seq.

                                   Effective October 1, 2002 - March 6, 2003
---------------------------------- ------------------------------------------------- ---------------------------------
New Jersey                         New Jersey Home Ownership Security                Covered Home Loan
                                   Act of 2002, N.J. Rev. Stat. §§ 46:10B 22 et
                                   seq.

                                   Effective November 27, 2003 - July 5, 2004
---------------------------------- ------------------------------------------------- ---------------------------------

                  Standard & Poor's Home Loan Categorization

---------------------------------- ------------------------------------------------- ---------------------------------
       State/Jurisdiction                   Name of Anti-Predatory Lending                    Category under
                                                                                             Applicable Anti-
                                                  Law/Effective Date                      Predatory Lending Law
---------------------------------- ------------------------------------------------- ---------------------------------
Georgia (Oct. 1, 2002 -            Georgia Fair Lending Act, Ga. Code                Home Loan
Mar. 6, 2003)                      Ann. §§ 7-6A-1 et seq.

                                   Effective October 1, 2002 - March 6, 2003
---------------------------------- ------------------------------------------------- ---------------------------------
New Jersey                         New Jersey Home Ownership Security                Home Loan
                                   Act of 2002, N.J. Rev. Stat. §§ 46:10B- 22 et
                                   seq.

                                   Effective for loans closed on or after November
                                   27, 2003
---------------------------------- ------------------------------------------------- ---------------------------------
New Mexico                         Home Loan Protection Act, N.M. Rev. Stat. §§      Home Loan
                                   58-21A-1 et seq.

                                   Effective as of January 1, 2004; Revised as of
                                   February 26, 2004
---------------------------------- ------------------------------------------------- ---------------------------------
North Carolina                     Restrictions and Limitations on High Cost Home    Consumer Home Loan
                                   Loans, N.C. Gen. Stat. §§
                                   24-1.1E et seq.

                                   Effective July 1, 2000; amended October 1, 2003
                                   (adding open-end lines of credit)
---------------------------------- ------------------------------------------------- ---------------------------------
South Carolina                     South Carolina High Cost and Consumer Home        Consumer Home Loan
                                   Loans Act, S.C. Code Ann. §§ 37-23-10 et seq.

                                   Effective for loans taken on or after January
                                   1, 2004
---------------------------------- ------------------------------------------------- ---------------------------------HSBC Bank USA, National Association
452 Fifth Avenue
New York, NY  10018
Fax: (212) 525-0673
                                                                                           August 25, 2006

RASC Series 2006-EMX7 Trust,
acting through U.S. Bank National Association
not in its individual capacity
but solely in its capacity as
Trustee for the benefit of the
RASC Series 2006-EMX7 Trust

EP-MN-WS3D
60 Livingston Avenue
St. Paul, MN  55107
Attn:    Structured Finance/RASC Series 2006-EMX7 Trust
Fax:     651-495-8090
Tel:     651-495-3880

Cc: Michael Scarseth
Fax:     952-921-9133
Tel:     952-857-6518

Subject: Interest Rate Cap

Transaction Reference Number:  405746HN
__________________________________________________________________________________________________________

The purpose of this letter agreement (this  "Confirmation")  is to confirm the terms and conditions of the
Transaction  entered into between us on the Trade Date specified below,  and  subsequently  amended as set
out below (the  "Transaction")  between HSBC Bank USA, N.A.  ("HSBC") and U.S. Bank National  Association,
not in its  individual  capacity,  but solely as Trustee for the benefit of RASC Series  2006-EMX7  Trust.
This  Confirmation  constitutes  a  "Confirmation"  as referred to in the ISDA Form Master  Agreement  (as
defined  below),  as well as a  "Schedule"  as  referred  to in the ISDA Form  Master  Agreement.  In this
Confirmation  "Party A" means HSBC and "Party B" means RASC Series  2006-EMX7  Trust,  acting through U.S.
Bank National  Association  not in its  individual  capacity but solely in its capacity as Trustee for the
benefit of the RASC Series 2006-EMX7 Trust.

         1.       This  Agreement  is  subject  to  and   incorporates  the  2000  ISDA  Definitions  (the
         "Definitions"),  as  published  by the  International  Swaps and  Derivatives  Association,  Inc.
         ("ISDA").  Any reference to a "Swap  Transaction"  in the Definitions is deemed to be a reference
         to a "Transaction"  for purposes of this Agreement,  and any reference to a "Transaction" in this
         Agreement is deemed to be a reference to a "Swap  Transaction"  for purposes of the  Definitions.
         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");  rather,  an ISDA Form Master Agreement with such elections and modifications as set
         forth  therein,  shall be deemed to have been  executed by you and us on the date we entered into
         the  Transaction,  and this Agreement shall form part of,  supplement and be subject to such ISDA
         Form Master  Agreement.  For the avoidance of doubt,  the Transaction  described  herein shall be
         the  sole  Transaction  governed  by  such  ISDA  Form  Master  Agreement.  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.  Each term
         capitalized  and  not  otherwise  defined  herein,  in the  ISDA  Form  Master  Agreement  or the
         Definitions  shall have the meaning  assigned  thereto in the Pooling  and  Servicing  Agreement,
         dated as of August 1,  2006,  among  Residential  Asset  Securities  Corporation,  as  Depositor,
         Residential  Funding  Corporation,  as Master Servicer,  and U.S. Bank National  Association,  as
         trustee  (the  "Pooling  and  Servicing  Agreement").  Each  reference  to a  "Section"  or  to a
         "Section"  "of this  Agreement"  will be  construed  as a reference to a Section of the 1992 ISDA
         Form Master Agreement.

         Each of Party A and Party B  represents  to the other that it has entered  into this  Transaction
         in reliance  upon such tax,  accounting,  regulatory,  legal,  and  financial  advice as it deems
         necessary  and not upon any  view  expressed  by the  other  and,  in the case of Party B, it has
         entered into this  transaction  pursuant to the direction  received by it pursuant to the Pooling
         and Servicing Agreement.

2.       The terms of the particular Transaction to which this Confirmation relates are as follows:

         Notional Amount:                            With respect to any Calculation Period, the lesser
                                                     of:

                                                     (i)      The  amount  as  set  forth  in  Exhibit  I,
                                                              which is  attached  hereto and  incorporated
                                                              by reference into this Confirmation, and

                                                     (ii)     The    aggregate    outstanding    principal
                                                              balance  of the  Class  A  Certificates  and
                                                              Class M  Certificates,  as  described in the
                                                              Pooling     and     Servicing      Agreement
                                                              immediately  prior  to the  last day of such
                                                              Calculation Period.

         Trade Date:                                   August 22, 2006

         Effective Date:                               August 25, 2006

         Termination Date:                             August  25,   2011,   subject  to   adjustment   in
                                                       accordance   with  the   Following   Business   Day
                                                       Convention.

         Fixed Amounts:

                  Fixed Amount Payer:                  Party B

                  Fixed Amount:                        USD 2,200,000.00

                  Fixed Rate Payer
                  Payment Date:                        August 25, 2006, subject to adjustment in
                                                       accordance with the Following Business Day
                                                       Convention

         Floating Amounts:

                  Floating Amount Payer:               Party A

                  Floating Rate Payer
                  Period End Dates:                    The 25th  calendar  day of each  month,  commencing
                                                       on   September   25,   2006  and   ending   on  the
                                                       Termination    Date,    inclusive,    subject    to
                                                       adjustment   in   accordance   with  the  Following
                                                       Business Day Convention

                  Floating Rate Payer
                  Payment Dates:                       Early  Payment – Two (2)  Business  Days  preceding
                                                       each Floating Rate Payer Period End Date.

                  Cap Rate:                            5.400 %

                  Floating Rate Option:                USD-LIBOR-BBA

                  Designated Maturity:                 One month

                  Spread:                              None

                  Floating Rate
                  Day Count Fraction:                  Actual/360

                  Reset Dates:                         The first day of each Calculation Period

         Business Days:                                New York

         Business Day Conventions:                     Following

         Calculation Agent:                            As specified in the Agreement

         Administration Fee:                           A fee in the amount of USD  15,000.00  will be paid
                                                       on  Party  B's  behalf  to  Party  A for  value  on
                                                       August  25,   2006,   subject  to   adjustment   in
                                                       accordance   with  the   Following   Business   Day
                                                       Convention

3.       Provisions Deemed Incorporated in a Schedule to the ISDA Form Master Agreement:

1)   The parties  agree that  subparagraph  (ii) of Section  2(c) of the ISDA Form Master  Agreement  will
apply to any Transaction.

2)   Termination Provisions.  For purposes of the ISDA Form Master Agreement:

(a)  "Specified Entity" is not applicable to HSBC or Party B for any purpose.

(b)  "Specified  Transaction"  is not  applicable  to HSBC or Party B for any purpose,  and,  accordingly,
Section 5(a)(v) shall not apply to HSBC or Party B.

(c)  The "Cross Default" provisions of Section 5(a)(vi) shall not apply to HSBC or Party B.

(d)  The "Credit Event Upon Merger" provisions of Section 5(b)(iv) will not apply to HSBC or Party B.

(e)  With respect to Party B, the "Bankruptcy"  provision of Section  5(a)(vii)(2) of the ISDA Form Master
Agreement shall not apply.

(f) The "Merger Without Assumption" provision of Section 5(a)(viii) will not apply to Party B.

(g)  The "Automatic Early Termination" provision of Section 6(a) will not apply to HSBC or to Party B.

(h)  Payments on Early Termination.  For the purpose of Section 6(e) of the ISDA Form Master Agreement:

     (i)      Market Quotation will apply.

     (ii)     The Second Method will apply.

(i)  "Termination Currency" means United States Dollars.

(j)  Events of Default.  The  provisions of Sections  5(a)(ii),  5(a)(iii) and 5(a)(iv) shall not apply to
Party B.  The provisions of Sections 5(a)(ii) and 5(a)(iv) shall not apply to HSBC.

(k)  Tax Event.  The  provisions  of Section  2(d)(i)(4)  and  2(d)(ii)  of the  printed  ISDA Form Master
Agreement  shall not apply to Party B and nor Party B shall not be required to pay any additional  amounts
referred to therein.

3)   Tax Representations.

(a)  Payer  Representations.  For the purpose of Section 3(e) of the ISDA Form Master Agreement,  HSBC and
Party B will make the following representations:

It is not  required  by any  applicable  law, as modified  by the  practice of any  relevant  governmental
revenue  authority,  of any Relevant  Jurisdiction  to make any deduction or withholding for or on account
of any Tax from any payment  (other than interest  under  Section 2(e),  6(d)(ii) or 6(e) of the ISDA Form
Master  Agreement)  to  be  made  by  it  to  the  other  party  under  this  Agreement.  In  making  this
representation, it may rely on:

     (i)      the accuracy of any representations  made by the other party pursuant to Section 3(f) of the
     ISDA Form Master Agreement;

     (ii)     the satisfaction of the agreement  contained in Section 4(a)(i) or Section  4(a)(iii) of the
     ISDA Form Master Agreement and the accuracy and  effectiveness of any document  provided by the other
     party pursuant to Section 4(a)(i) or Section 4(a)(iii) of the ISDA Form Master Agreement; and

     (iii)    the  satisfaction  of the agreement of the other party contained in Section 4(d) of the ISDA
     Form Master Agreement,  provided that it shall not be a breach of this representation  where reliance
     is placed on clause  (ii) and the other  party  does not  deliver a form or  document  under  Section
     4(a)(iii) by reason of material prejudice to its legal or commercial position.

(b)  Payee  Representations.  For the purpose of Section 3(f) of the ISDA Form Master  Agreement,  each of
HSBC and Party B make the following representations.

     The following representation will apply to HSBC:

         HSBC is a national  banking  association  organized  under the federal laws of the United  States
         and its U.S.  taxpayer identification number is 20-1177241.

         The following representation will apply to Party B:

         U.S. Bank National  Association  is the Trustee under the Pooling and Servicing  Agreement.  U.S.
         Bank  represents  that it is directed  pursuant to the Pooling and  Servicing  Agreement to enter
         into this  Agreement  (including the ISDA Form Master  Agreement) and to perform the  obligations
         hereunder (and thereunder).

4)   Limitation  on Events of  Default.  Notwithstanding  the terms of  Sections  5 and 6 of the ISDA Form
Master  Agreement,  if at any  time  and so  long as  Party  B has  satisfied  in  full  all  its  payment
obligations  under  Section  2(a)(i)  of the ISDA  Form  Master  Agreement  and has at the time no  future
payment  obligations,  whether  absolute or contingent,  under such Section,  then unless HSBC is required
pursuant to appropriate  proceedings  to return to Party B or otherwise  returns to Party B upon demand of
Party B any portion of any such payment,  (a) the occurrence of an event  described in Section 5(a) of the
ISDA Form Master  Agreement  with respect to Party B shall not constitute an Event of Default or Potential
Event of Default with respect to Party B as  Defaulting  Party and (b) HSBC shall be entitled to designate
an Early  Termination  Date  pursuant to Section 6 of the ISDA Form Master  Agreement  only as a result of
the  occurrence of a Termination  Event set forth in either  Section  5(b)(i) or 5(b)(ii) of the ISDA Form
Master  Agreement with respect to HSBC as the Affected  Party,  or Section  5(b)(iii) with respect to HSBC
as the Burdened  Party.  For purposes of the Transaction to which this Agreement  relates,  Party B's only
obligation  under  Section  2(a)(i) of the ISDA Form Master  Agreement  is to pay the Fixed  Amount on the
Fixed Rate Payer Payment Date.

5)   Documents to be Delivered.  For the purpose of Section 4(a) (i) and 4(a) (iii):

(1)  Tax forms, documents, or certificates to be delivered are:

---------------------------------------- -------------------------------- ----------------------------------------------
Party required to deliver document       Form/Document/                   Date by which to Be delivered
                                         Certificate
---------------------------------------- -------------------------------- ----------------------------------------------
HSBC and                                 Any   document    required   or  Promptly  after the earlier of (i) reasonable
Party B                                  reasonably  requested  to allow  demand by either party or (ii)  learning that
                                         the   other   party   to   make  such form or document is required
                                         payments  under this  Agreement
                                         without   any    deduction   or
                                         withholding   for   or  on  the
                                         account  of  any  Tax  or  with
                                         such  deduction or  withholding
                                         at a reduced rate
---------------------------------------- -------------------------------- ----------------------------------------------

(2)  Other documents to be delivered are:

----------------------------- --------------------------------- ------------------------------- ------------------------
Party  required  to  deliver  Form/Document/                    Date by which to Be delivered   Covered    by   Section
document                      Certificate                                                       3(d) Representation
----------------------------- --------------------------------- ------------------------------- ------------------------
HSBC and Party B              Any documents to evidence the     Upon the execution and          Yes
                              authority of the delivering       delivery of this Agreement
                              party for it to execute and       and such Confirmation.
                              deliver this Confirmation.
----------------------------- --------------------------------- ------------------------------- ------------------------
HSBC and Party B              A certificate of an authorized    Upon the execution and          Yes
                              officer of the party, as to the   delivery of this Confirmation.
                              incumbency and authority of the
                              respective officers of the
                              party signing this Confirmation.

----------------------------- --------------------------------- ------------------------------- ------------------------
HSBC                          Legal opinion(s) with respect     Upon the execution and          No
                              to such party and its Credit      delivery of this Agreement.
                              Support Provider, if any, for
                              it, reasonably satisfactory in
                              form and substance to the other
                              party relating to the
                              enforceability of the party's
                              obligations under this
                              Agreement.
----------------------------- --------------------------------- ------------------------------- ------------------------
HSBC                          A copy of the most recent         Promptly after request by the   Yes
                              annual report of such party       other party
                              (only if available) and its
                              Credit Support Provider, if
                              any, containing in all cases
                              audited consolidated financial
                              statements for each fiscal year
                              certified by independent
                              certified public accountants
                              and prepared in accordance with
                              generally accepted accounting
                              principles in the United States
                              or in the country in which such
                              party is organized.
----------------------------- --------------------------------- ------------------------------- ------------------------
Party B                       Each other report or other        Promptly upon request by        Yes
                              document required to be           HSBC, or with respect to any
                              delivered by or to Party B        particular type of report or
                              under the terms of the Pooling    other document as to which
                              and Servicing Agreement, other    HSBC has previously made
                              than those required to be         request to receive all
                              delivered directly by the         reports or documents of that
                              Trustee to HSBC thereunder.       type, promptly upon delivery
                                                                or receipt of such report or
                                                                document by Party B and such
                                                                delivery shall be satisfied
                                                                by posting on Party B's
                                                                website
                                                                http://www.usbank.com/mbs
----------------------------- --------------------------------- ------------------------------- ------------------------

6)   Other Provisions.

(a)  Address for Notices: For the purposes of Section 12(a) of this Agreement:

     Address for notices or communications to HSBC:

      Address:         452 Fifth Avenue, New York, NY  10018
      Attention:       Christian McGreevy
      Facsimile:       212-525-8710
      Telephone:       212-525-5517

      Please direct all settlement inquiries to:

                  HSBC Bank USA, National Association
                  Derivative Settlements
                  Attention:        Jeffrey Lombino
                  Telephone:        (212) 525-5393
                  Fax:              (212) 525-6903

      Address for notices or communications to Party B:

                  Address:          RASC Series 2006-EMX7 Trust
                                    c/o U.S. Bank National Association
                                    60 Livingston Avenue
                                    EP-MN-WS3D
                                    St.  Paul, MN 55107
                                    Facsimile No.: 651-495-8090
                                    Telephone No: 651-495-3880

                  with a copy to:

                  Address:          Residential Funding Corporation
                                    8400 Normandale Lake Blvd.
                                    Minneapolis, MN 55437
                  Attention:        Michael Scarseth
                  Facsimile No.:    952-921-9133
                  Telephone No:     952-857-6518

                  (For all purposes)

(b)  Process Agent.  For the purpose of Section 13(c):

                  HSBC appoints as its Process Agent:  Not Applicable
                  Party B appoints as it Process Agent:  Not Applicable

(c)  Offices.  The  provisions  of Section  10(a) will not apply to this  Agreement;  for purposes of this
Transaction,  it will be deemed that neither HSBC nor Party B have any Offices  other than as set forth in
the  Notices  Section  and HSBC  agrees  that,  for  purposes  of  Section  6(b) of the ISDA  Form  Master
Agreement, it shall be deemed not to have any Office other than one in the United States.

(d)  Multibranch Party.  For the purpose of Section 10(c) of the ISDA Form Master Agreement:

     HSBC is not a Multibranch Party.

     Party B is not a Multibranch Party.

(e)  Calculation  Agent.  The  Calculation  Agent is HSBC;  provided  however,  if an Event of Default has
occurred  with respect to HSBC,  then Party B or a Reference  Market-maker  designated by Party B shall be
Calculation Agent.

(f)  Credit  Support  Document.  Initially  with respect to HSBC,  not  applicable;  however,  if required
pursuant to Paragraph  3(6)(u) hereof,  a guaranty  satisfactory  to Party B and the Cap Rating  Agencies.
With respect to Party B, not applicable.

(g)  Credit Support Provider.

     HSBC:  Not Applicable

     Party B:  Not Applicable

(h)  Governing  Law.  The  parties to this ISDA  Agreement  hereby  agree that the law of the State of New
York shall  govern  their rights and duties in whole,  without  regard to the  conflict of law  provisions
thereof other than New York General Obligations Law Sections 5-1401 and 5-1402.

(i)  Non-Petition.  HSBC  hereby  irrevocably  and  unconditionally  agrees  that  it will  not  institute
against,  or join any other person in instituting  against or cause any other person to institute  against
the RASC Series  2006-EMX7 Trust or Party B in its capacity as trustee,  any  bankruptcy,  reorganization,
arrangement,  insolvency,  or  similar  proceeding  under  the laws of the  United  States,  or any  other
jurisdiction  for the  non-payment  of any amount due  hereunder  or any other reason until the payment in
full of the  Certificates  (as defined in the Pooling and  Servicing  Agreement)  and the  expiration of a
period of one year plus ten days  (or,  if  longer,  the  applicable  preference  period)  following  such
payment.

(j)  Non-Recourse  Provisions.  Notwithstanding  anything to the contrary contained herein,  none of Party
B or any of its officers,  directors,  or shareholders  (the  "Non-recourse  Parties") shall be personally
liable  for the  payment  by or on  behalf  of the  Issuer  hereunder,  and  HSBC  shall be  limited  to a
proceeding  against the Collateral or against any other third party other than the  Non-recourse  Parties,
and HSBC shall not have the right to proceed  directly  against  the  Issuer for the  satisfaction  of any
monetary  claim  against  the  Non-recourse  Parties  or  for  any  deficiency  judgment  remaining  after
foreclosure of any property  included in such  Collateral and following the realization of the Collateral,
any claims of HSBC shall be extinguished.

(k)  Severability.  If any term, provision,  covenant, or condition of this Agreement,  or the application
thereof to any party or circumstance,  shall be held to be invalid or unenforceable  (in whole or in part)
for any reason, the remaining terms,  provisions,  covenants, and conditions hereof shall continue in full
force and effect and shall remain  applicable to all other parties and  circumstances as if this Agreement
had been executed with the invalid or unenforceable  portion  eliminated,  so long as this Agreement as so
modified continues to express,  without material change, the original  intentions of the parties as to the
subject  matter  of  this  Agreement  and the  deletion  of  such  portion  of  this  Agreement  will  not
substantially impair the respective benefits or expectations of the parties.

The parties shall endeavor to engage in good faith  negotiations  to replace any invalid or  unenforceable
term,  provision,  covenant  or  condition  with a valid  or  enforceable  term,  provision,  covenant  or
condition,  the  economic  effect  of  which  comes  as  close  as  possible  to  that of the  invalid  or
unenforceable term, provision, covenant or condition.

(l)  Consent to Recording.  Each party hereto  consents to the  monitoring  or recording,  at any time and
from time to time, by the other party of any and all  communications  between officers or employees of the
parties,  waives any further  notice of such  monitoring or  recording,  and agrees to notify its officers
and employees of such monitoring or recording.

(m)  Waiver of Jury Trial.  Each party to this  Agreement  respectively  waives any right it may have to a
trial by jury in respect of any  Proceedings  relating to this Agreement,  any Credit Support  Document or
any of the transactions contemplated hereby.

(n)  Set-Off.   Notwithstanding  any  provision  of  this  Agreement  or  any  other  existing  or  future
agreement,  each  party  irrevocably  waives  any and all  rights it may have to set off,  net,  recoup or
otherwise  withhold or suspend or condition  payment or performance  of any obligation  between it and the
other party hereunder  against any obligation  between it and the other party under any other  agreements.
The provisions for Set-off set forth in  Section 6(e)  of the ISDA Form Master  Agreement  shall not apply
for purposes of this Transaction.

(o)  Trustee  Liability  Limitations.  Notwithstanding  anything  herein to the contrary,  it is expressly
understood  and agreed by the parties  hereto that (a) this  Agreement is executed  and  delivered by U.S.
Bank National  Association  ("U.S.  Bank"),  not individually or personally but solely as Trustee of Party
B, in the  exercise  of the  powers and  authority  conferred  and  vested in it and that U.S.  Bank shall
perform  its duties  and  obligations  hereunder  in  accordance  with the  standard  of care set forth in
Article VIII of the Pooling and Servicing  Agreement,  (b) each of the  representations,  undertakings and
agreements  herein  made on the part of  Party B is made and  intended  not as  personal  representations,
undertakings  and  agreements  by U.S. Bank but is made and intended for the purpose of binding only Party
B, (c) nothing herein  contained  shall be construed as creating any liability on U.S. Bank,  individually
or personally,  to perform any covenant either expressed or implied contained herein,  all such liability,
if any, being  expressly  waived by the parties hereto and by any Person claiming by, through or under the
parties  hereto;  provided that nothing in this  paragraph  shall relieve U.S.  Bank from  performing  its
duties and obligations  under the Pooling and Servicing  Agreement in accordance with the standard of care
set forth therein,  and (d) under no  circumstances  shall U.S. Bank be personally  liable for the payment
of any  indebtedness  or  expenses  of Party B or be liable for the  breach or failure of any  obligation,
representation,  warranty or covenant  made or  undertaken  by Party B under this  Agreement  or any other
related documents.

(p)  "Affiliate"  will  have the  meaning  specified  in  Section  14 of the ISDA Form  Master  Agreement,
provided  that  HSBC and  Party B shall not be deemed  to not have any  Affiliates  for  purposes  of this
Agreement, including for purposes of Section 6(b)(ii).

(q)  Section 3 of the ISDA Form  Master  Agreement  is hereby  amended  by adding at the end  thereof  the
following subsection (g):

         "(g) Relationship Between Parties.
         Each party represents to the other party on each date when it enters into a Transaction that:--

                  (1)  Nonreliance.  (i) It is not  relying  on any  statement  or  representation  of the
                  other  party  regarding  the  Transaction  (whether  written  or oral),  other  than the
                  representations  expressly  made in this  Agreement  or the  Confirmation  in respect of
                  that  Transaction  and  (ii) it has  consulted  with  its own  legal,  regulatory,  tax,
                  business,  investment,  financial  and  accounting  advisors to the extent it has deemed
                  necessary,  and it has made its own  investment,  hedging  and trading  decisions  based
                  upon  its own  judgment  and  upon  any  advice  from  such  advisors  as it has  deemed
                  necessary and not upon any view expressed by the other party.

                  (2)  Evaluation and Understanding.

                  (i)      It  has  the   capacity  to  evaluate   (internally   or  through   independent
                  professional  advice) the  Transaction  and has made its own  decision to enter into the
                  Transaction  and in the  case of  Party  B, it has  been  directed  by the  Pooling  and
                  Servicing Agreement to enter into this Transaction; and

                  (ii)     It  understands  the  terms,  conditions  and risks of the  Transaction  and is
                  willing  and able to accept  those  terms and  conditions  and to  assume  those  risks,
                  financially and otherwise.

                  (3)      Purpose.  It is entering into the  Transaction for the purposes of managing its
                  borrowings  or  investments,   hedging  its  underlying  assets  or  liabilities  or  in
                  connection with a line of business.

                  (4)      Status of  Parties.  The other  party is not  acting  as  agent,  fiduciary  or
                  advisor for it in respect of the Transaction,

                  (5)      Eligible  Contract  Participant.  It is an "eligible swap  participant" as such
                  term is defined in  Section  35.1(b)(2)  of the  regulations  (17 C.F.R 35)  promulgated
                  under,  and it constitutes an "eligible  contract  participant"  as such term is defined
                  in Section 1(a)12 of the Commodity Exchange Act, as amended."

(r)  The ISDA Form Master Agreement is hereby amended as follows

         (i)      The  word  "third"  shall  be  replaced  by the  word  "second"  in the  third  line  of
Section 5(a)(i) of the ISDA Form Master Agreement.

         (s)      Transfer,  Amendment  and  Assignment.  No  transfer,   amendment,  waiver,  supplement,
assignment  or other  modification  of this  Transaction  shall be permitted by either party (other than a
change of  Counterparty  in  connection  with a change of  Trustee  in  accordance  with the  Pooling  and
Servicing  Agreement) unless each of Moody's Investors Service,  Inc. ("Moody's") and Standard and Poor's,
a Division of the McGraw Hill  Companies  ("S&P"),  has been  provided  notice of the same and confirms in
writing  (including  by  facsimile  transmission)  that  it  will  not  downgrade,  qualify,  withdraw  or
otherwise  modify its  then-current  rating of the RASC  Series  2006-EMX7  Trust,  Home  Equity  Mortgage
Asset-Backed Pass-Through Certificates, Series 2006-EMX7 (the "Certificates").

         (t)      [Reserved].

         (u)      Counterparty  Rating  Withdrawal or Reduction.  In the event that (1) HSBC's  short-term
unsecured and  unsubordinated  debt rating is reduced below "A-1" by S&P (or if its  short-term  rating is
not  available  by S&P,  in the event that its  long-term  unsecured  and  unsubordinated  debt  rating is
reduced below "AA-" by S&P) or (2) either HSBC's  long-term  unsecured and  unsubordinated  debt rating is
reduced  below "A1" by Moody's or its  short-term  unsecured  and  unsubordinated  debt  rating is reduced
below "P1" by Moody's (or, if its short-term rating is not available by Moody's,  its long-term  unsecured
and  unsubordinated  debt rating is withdrawn or reduced  below "Aa3" by Moody's)  (and together with S&P,
the "Cap Rating  Agencies",  and such rating  thresholds,  "Approved Rating  Thresholds"),  then within 30
days  after such  rating  withdrawal  or  downgrade  (unless,  within 30 days  after  such  withdrawal  or
downgrade  each Cap Rating  Agency  has  reconfirmed  its rating for HSBC which was in effect  immediately
prior to such withdrawal or downgrade),  HSBC shall,  subject to the Rating Agency  Condition,  at its own
expense:

                  (i)      assign each Transaction to another counterparty,  which counterparty shall have
the Approved  Rating  Thresholds and shall have been approved by Residential  Funding  Corporation  (which
approval  shall  not be  unreasonably  withheld)  on  terms  substantially  similar  to the  terms of this
Confirmation;

                  (ii)     obtain  guaranty  of, or a  contingent  agreement  of another  person  with the
Approved  Rating  Thresholds,  to honor HSBC's  obligations  under this  Confirmation;  provided that such
other  person  has  been  approved  by  Residential  Funding  Corporation  (which  approval  shall  not be
unreasonably be withheld);

                  (iii)    post  collateral  which will be sufficient to the  applicable Cap Rating Agency
to restore the rating for HSBC which was in effect immediately prior to such withdrawal or downgrade; or

                  (iv)     establish any other arrangement  satisfactory to HSBC and to the applicable Cap
Rating  Agency,  in each case,  sufficient to restore the rating for HSBC which was in effect  immediately
prior to such withdrawal or downgrade.

                  Notwithstanding  the  previous  paragraph,  in  the  event  that  Party  A's  short-term
unsecured  and  unsubordinated  debt rating is withdrawn or reduced  below "A-3" by S&P or, if there is no
short-term  rating, its long-term  unsecured and unsubordinated  debt rating is withdrawn or reduced below
"BBB-" by S&P, then within 10 days of such rating  withdrawal or downgrade  (unless,  within 10 days after
such  withdrawal  or downgrade S&P has  reconfirmed  the rating of the  Certificates  which was  in effect
immediately  prior  to such  withdrawal  or  downgrade),  Party A  shall,  subject  to the  Rating  Agency
Condition,  at its own expense,  assign this Transaction to another  counterparty with the Approved Rating
Thresholds and approved by Party B on terms substantially similar to this Confirmation

                  For purposes of this provision,  "Rating Agency  Condition"  means,  with respect to any
particular  proposed  act or  omission  to act  hereunder  that the party  acting or  failing  to act must
consult with any of the Cap Rating Agencies then providing a rating of the  Certificates  and receive from
the Cap Rating  Agencies a prior  written  confirmation  that the  proposed  action or inaction  would not
cause a downgrade or withdrawal of the then-current rating of the Certificates.

4.       Account Details:

                  Payments to Party A:                 HSBC Bank USA, National Association
                                                       ABA # 021-001-088
                                                       For credit to Department 299
                                                       A/C: 000-04929-8
                                                       HSBC Derivative Products Group

                  Payments to Party B:                 U.S. Bank National Association
                                                       ABA Number: 091000022
                                                       Account Number: 1731 0332 2058
                                                       Reference: RASC 2006-EMX7
                                                       OBI: Attention: John Thomas
                                                       Ref. Acct. No.: 104386000

5.       Office:

         Party A is acting through its New York Office for the purposes of this Transaction.

6.       Please confirm that the forgoing correctly sets forth the terms of our agreement by having an
         authorized officer sign this Confirmation and return it via facsimile to:

                  HSBC Bank USA, National Association
                  Attention:        Christian McGreevy
                  Telephone:        (212) 525-8710
                  Fax:              (212) 525-5517

                               [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

HSBC Bank USA, National Association
452 Fifth Avenue
New York, NY  10018
Fax: (212) 525-0673

This message will be the only form of Confirmation dispatched by us.  Please execute and return it to us
by facsimile immediately.  If you wish to exchange hard copy forms of this Confirmation, please contact
us.

Yours sincerely,

HSBC BANK USA, NATIONAL ASSOCIATION

By: ____________________________
     Authorized Signature

By: ____________________________
     Authorized Signature

Confirmed as of the date first written above:

RASC SERIES 2006-EMX7 TRUST
               By: U.S. Bank National Association
               not in its individual capacity
               but solely in its capacity as
               Trustee for the benefit of the
               RASC Series 2006-EMX7 Trust

By: ___________________________
     Name:
     Title:

Attachment

HSBC Bank USA, National Association
452 Fifth Avenue
New York, NY  10018
Fax: (212) 525-0673

                                        Exhibit I

----------------------------------------------------------- ------------------------
               For the Calculation Periods                      Notional Amount
------------------------------ ---------------------------- ------------------------
    From and including:*           To but excluding:*               in USD:
------------------------------ ---------------------------- ------------------------
           The Effective Date           September 25, 2006           495,300,000.00
------------------------------ ---------------------------- ------------------------
           September 25, 2006             October 25, 2006           491,135,941.96
------------------------------ ---------------------------- ------------------------
             October 25, 2006            November 25, 2006           485,523,677.89
------------------------------ ---------------------------- ------------------------
            November 25, 2006            December 25, 2006           478,458,760.00
------------------------------ ---------------------------- ------------------------
            December 25, 2006             January 25, 2007           469,947,911.07
------------------------------ ---------------------------- ------------------------
             January 25, 2007            February 25, 2007           460,009,532.98
------------------------------ ---------------------------- ------------------------
            February 25, 2007               March 25, 2007           448,674,101.90
------------------------------ ---------------------------- ------------------------
               March 25, 2007               April 25, 2007           435,984,698.31
------------------------------ ---------------------------- ------------------------
               April 25, 2007                 May 25, 2007           422,026,163.07
------------------------------ ---------------------------- ------------------------
                 May 25, 2007                June 25, 2007           407,078,970.20
------------------------------ ---------------------------- ------------------------
                June 25, 2007                July 25, 2007           391,481,954.16
------------------------------ ---------------------------- ------------------------
                July 25, 2007              August 25, 2007           376,349,873.14
------------------------------ ---------------------------- ------------------------
              August 25, 2007           September 25, 2007           361,735,398.02
------------------------------ ---------------------------- ------------------------
           September 25, 2007             October 25, 2007           347,659,866.78
------------------------------ ---------------------------- ------------------------
             October 25, 2007            November 25, 2007           334,103,205.42
------------------------------ ---------------------------- ------------------------
            November 25, 2007            December 25, 2007           321,046,093.62
------------------------------ ---------------------------- ------------------------
            December 25, 2007             January 25, 2008           308,469,936.27
------------------------------ ---------------------------- ------------------------
             January 25, 2008            February 25, 2008           296,356,836.07
------------------------------ ---------------------------- ------------------------
            February 25, 2008               March 25, 2008           284,689,567.18
------------------------------ ---------------------------- ------------------------
               March 25, 2008               April 25, 2008           273,451,549.88
------------------------------ ---------------------------- ------------------------
               April 25, 2008                 May 25, 2008           261,352,952.67
------------------------------ ---------------------------- ------------------------
                 May 25, 2008                June 25, 2008           242,976,253.31
------------------------------ ---------------------------- ------------------------
                June 25, 2008                July 25, 2008           225,488,237.85
------------------------------ ---------------------------- ------------------------
                July 25, 2008              August 25, 2008           209,047,687.16
------------------------------ ---------------------------- ------------------------
              August 25, 2008           September 25, 2008           193,807,958.13
------------------------------ ---------------------------- ------------------------
           September 25, 2008             October 25, 2008           180,346,188.46
------------------------------ ---------------------------- ------------------------
             October 25, 2008            November 25, 2008           171,404,851.97
------------------------------ ---------------------------- ------------------------
            November 25, 2008            December 25, 2008           163,110,647.36
------------------------------ ---------------------------- ------------------------
            December 25, 2008             January 25, 2009           155,318,835.44
------------------------------ ---------------------------- ------------------------
             January 25, 2009            February 25, 2009           147,863,373.27
------------------------------ ---------------------------- ------------------------
            February 25, 2009               March 25, 2009           140,729,355.26
------------------------------ ---------------------------- ------------------------
               March 25, 2009               April 25, 2009           133,902,462.75
------------------------------ ---------------------------- ------------------------
               April 25, 2009                 May 25, 2009           127,369,071.33
------------------------------ ---------------------------- ------------------------
                 May 25, 2009                June 25, 2009           121,116,173.49
------------------------------ ---------------------------- ------------------------
                June 25, 2009                July 25, 2009           115,131,350.34
------------------------------ ---------------------------- ------------------------
                July 25, 2009              August 25, 2009           109,403,407.64
------------------------------ ---------------------------- ------------------------
              August 25, 2009           September 25, 2009           103,921,099.57
------------------------------ ---------------------------- ------------------------
           September 25, 2009             October 25, 2009           103,921,099.57
------------------------------ ---------------------------- ------------------------
             October 25, 2009            November 25, 2009           103,921,099.57
------------------------------ ---------------------------- ------------------------
            November 25, 2009            December 25, 2009           102,751,108.35
------------------------------ ---------------------------- ------------------------
            December 25, 2009             January 25, 2010            98,582,210.13
------------------------------ ---------------------------- ------------------------
             January 25, 2010            February 25, 2010            94,590,157.90
------------------------------ ---------------------------- ------------------------
            February 25, 2010               March 25, 2010            90,767,189.19
------------------------------ ---------------------------- ------------------------
               March 25, 2010               April 25, 2010            87,105,890.52
------------------------------ ---------------------------- ------------------------
               April 25, 2010                 May 25, 2010            83,599,181.46
------------------------------ ---------------------------- ------------------------
                 May 25, 2010                June 25, 2010            80,240,299.43
------------------------------ ---------------------------- ------------------------
                June 25, 2010                July 25, 2010            77,022,785.19
------------------------------ ---------------------------- ------------------------
                July 25, 2010              August 25, 2010            73,940,469.00
------------------------------ ---------------------------- ------------------------
              August 25, 2010           September 25, 2010            70,987,457.44
------------------------------ ---------------------------- ------------------------
           September 25, 2010             October 25, 2010            68,158,120.80
------------------------------ ---------------------------- ------------------------
             October 25, 2010            November 25, 2010            65,447,081.09
------------------------------ ---------------------------- ------------------------
            November 25, 2010            December 25, 2010            62,849,200.58
------------------------------ ---------------------------- ------------------------
            December 25, 2010             January 25, 2011            60,359,570.84
------------------------------ ---------------------------- ------------------------
             January 25, 2011            February 25, 2011            57,973,502.38
------------------------------ ---------------------------- ------------------------
            February 25, 2011               March 25, 2011            55,686,514.64
------------------------------ ---------------------------- ------------------------
               March 25, 2011               April 25, 2011            53,494,326.52
------------------------------ ---------------------------- ------------------------
               April 25, 2011                 May 25, 2011            51,392,847.35
------------------------------ ---------------------------- ------------------------
                 May 25, 2011                June 25, 2011            49,378,168.23
------------------------------ ---------------------------- ------------------------
                June 25, 2011                July 25, 2011            47,445,437.53
------------------------------ ---------------------------- ------------------------
                July 25, 2011         The Termination Date            45,591,700.53
------------------------------ ---------------------------- ------------------------

*    All dates listed above (with the exception of the Effective Date), are subject to adjustment in
     accordance with the Following Business Day Convention

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00109-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00109-of-00352.parquet"}]]