Document:

EXHIBIT 10.2
                                  ------------

                           The Credit Support Annex.

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                                     ANNEX A

                                     ISDA(R)
                              CREDIT SUPPORT ANNEX
                             to the Schedule to the
                              ISDA Master Agreement
                      dated as of November 29, 2007 between
   Deutsche Bank AG, New York Branch (hereinafter referred to as "Party A" or
                                   "Pledgor")
                                       and
    Deutsche Bank National Trust Company, not in its individual or corporate
      capacity but solely as Supplemental Interest Trustee on behalf of the
   Supplemental Interest Trust in respect of IndyMac INDA Mortgage Loan Trust
                                    2007-AR8
           (hereinafter referred to as "Party B" or "Secured Party").

  For the avoidance of doubt, and notwithstanding anything to the contrary that
    may be contained in the Agreement, this Credit Support Annex shall relate
     solely to the Transaction documented in the Confirmation dated November
        29, 2007, between Party A and Party B, Reference Number N727633N.

Paragraph 13.  Elections and Variables.

(a)   Security  Interest for  "Obligations".  The term  "Obligations" as used in
      this Annex includes the following additional obligations:

      With respect to Party A: not applicable.

      With respect to Party B: not applicable.

(b)   Credit Support Obligations.

      (i)   Delivery Amount, Return Amount and Credit Support Amount.

            (A)   "Delivery Amount" has the meaning specified in Paragraph 3(a),
                  except that:

                  (I)   the words "upon a demand made by the Secured Party on or
                        promptly  following a  Valuation  Date" shall be deleted
                        and replaced with the words "not later than the close of
                        business on each Valuation Date",

                  (II)  the sentence  beginning "Unless  otherwise  specified in
                        Paragraph  13" and  ending  "(ii)  the  Value as of that
                        Valuation  Date of all Posted Credit Support held by the
                        Secured  Party."  shall be deleted in its  entirety  and
                        replaced with the following:

                        "The "Delivery Amount" applicable to the Pledgor for any
                        Valuation Date will equal the greatest of

                        (1)   the  amount  by which (a) the S&P  Credit  Support
                              Amount for such Valuation Date exceeds (b) the S&P
                              Value,  as of such  Valuation  Date, of all Posted
                              Credit Support held by the Secured Party, and

REFERENCE NUMBER: N727633N

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                        (2)   the amount by which (a) the Fitch  Credit  Support
                              Amount for such  Valuation  Date  exceeds  (b) the
                              Fitch Value,  as of such  Valuation  Date,  of all
                              Posted Credit  Support held by the Secured  Party,
                              and

                  (III) if, on any Valuation Date, the Delivery Amount equals or
                        exceeds  the  Pledgor's  Minimum  Transfer  Amount,  the
                        Pledgor will  Transfer to the Secured  Party  sufficient
                        Eligible  Credit  Support  to ensure  that,  immediately
                        following  such transfer,  the Delivery  Amount shall be
                        zero.

            (B)   "Return  Amount" has the meaning  specified in Paragraph 3(b),
                  except that:

                  (I)   the sentence  beginning "Unless  otherwise  specified in
                        Paragraph  13"  and  ending  "(ii)  the  Credit  Support
                        Amount."  shall be deleted in its  entirety and replaced
                        with the following:

                        "The "Return Amount" applicable to the Secured Party for
                        any Valuation Date will equal the least of

                        (1)   the amount by which (a) the S&P Value,  as of such
                              Valuation  Date, of all Posted Credit Support held
                              by the  Secured  Party  exceeds (b) the S&P Credit
                              Support Amount for such Valuation Date, and

                        (2)   the  amount by which (a) the  Fitch  Value,  as of
                              such Valuation  Date, of all Posted Credit Support
                              held by the  Secured  Party  exceeds (b) the Fitch
                              Credit Support Amount for such Valuation Date, and

                  (II)  in no event  shall  the  Secured  Party be  required  to
                        Transfer any Posted Credit Support under  Paragraph 3(b)
                        if,  immediately  following such transfer,  the Delivery
                        Amount would be greater than zero.

            (C)   "Credit  Support  Amount"  shall not apply.  For  purposes  of
                  calculating  any  Delivery  Amount  or Return  Amount  for any
                  Valuation  Date,  reference  shall  be made to the S&P  Credit
                  Support  Amount or the Fitch Credit  Support  Amount,  in each
                  case  for such  Valuation  Date,  as  provided  in  Paragraphs
                  13(b)(i)(A) and 13(b)(i)(B), above.

      (ii)  Eligible Collateral.

            On  any  date,  the  following   items  will  qualify  as  "Eligible
            Collateral" (for the avoidance of doubt, all Eligible  Collateral to
            be denominated in USD):

                      S&P Approved    S&P Required
                         Ratings         Ratings           Fitch
                        Valuation       Valuation        Valuation
     Collateral        Percentage      Percentage       Percentage
     ----------        ----------      ----------       ----------
(A) Cash                  100%             80%             100%

(B) Fixed-rate
    negotiable debt       98.0%           78.4%            99.5%
    obligations

REFERENCE NUMBER: N727633N

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    issued by the
    U.S. Treasury
    Department
    having a
    remaining
    maturity on
    such date of
    not more than
    one year

(C) Fixed-rate
    negotiable debt
    obligations
    issued by the
    U.S. Treasury
    Department
    having a
    remaining             92.6%           74.1%            93.9%
    maturity on
    such date of
    more than one
    year but not
    more than ten
    years

(D) Fixed-rate
    negotiable debt
    obligations
    issued by the
    U.S. Treasury
    Department
    having a
    remaining             84.6%           67.7%            92.7%
    maturity on
    such date of
    more than ten
    years but not
    more than 15
    years

      (iii) Other Eligible Support.

            The following items will qualify as "Other Eligible Support" for the
            party specified:

            Not applicable.

      (iv)  Threshold.

      (A)   "Independent Amount" means zero with respect to Party A and Party B.

REFERENCE NUMBER: N727633N

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      (B)   "S&P  Threshold"  means,  with respect to Party A and any  Valuation
            Date, if an S&P Approved Ratings Downgrade Event has occurred and is
            continuing and such S&P Approved  Ratings  Downgrade  Event has been
            continuing  (i) for at least 10 Local  Business  Days or (ii)  since
            this Annex was executed, zero; otherwise, infinity.

            "Fitch  Threshold"  means, with respect to Party A and any Valuation
            Date, if a Fitch First Trigger  Downgrade  Event has occurred and is
            continuing  and such Fitch First  Trigger  Downgrade  Event has been
            continuing  (i) for at least 30  calendar  days or (ii)  since  this
            Annex was executed, zero; otherwise, infinity.

            "Threshold"  means,  with respect to Party B and any Valuation Date,
            infinity.

      (C)   "Minimum  Transfer  Amount" means USD 25,000 with respect to Party A
            and Party B.

      (D)   Rounding:  The  Delivery  Amount  will be rounded up to the  nearest
            integral  multiple of USD 10,000.  The Return Amount will be rounded
            down to the nearest integral multiple of USD 10,000.

(c)   Valuation and Timing.

      (i)   "Valuation Agent" means Party A; provided, however, that if an Event
            of Default  shall have occurred with respect to which Party A is the
            Defaulting  Party,  Party B shall  have the  right to  designate  as
            Valuation Agent an independent party, reasonably acceptable to Party
            A, the cost for which shall be borne by Party A. All calculations by
            the Valuation  Agent must be made in accordance with standard market
            practice,  including,  in the event of a dispute  as to the Value of
            any Eligible  Credit  Support or Posted  Credit  Support,  by making
            reference to quotations  received by the Valuation Agent from one or
            more Pricing Sources.

      (ii)  "Valuation  Date" means the first Local Business Day in each week on
            which any of the S&P Threshold or the Fitch Threshold is zero.

      (iii) "Valuation  Time"  means  the close of  business  in the city of the
            Valuation Agent on the Local Business Day immediately  preceding the
            Valuation Date or date of calculation, as applicable;  provided that
            the   calculations  of  Value  and  Exposure  will  be  made  as  of
            approximately  the same time on the same date.  The Valuation  Agent
            will notify each party (or the other party,  if the Valuation  Agent
            is a party) of its calculations not later than the Notification Time
            on the applicable  Valuation Date (or in the case of Paragraph 6(d),
            the Local  Business  Day  following  the day on which such  relevant
            calculations are performed)."

      (iv)  "Notification  Time"  means 11:00  a.m.,  New York time,  on a Local
            Business Day.

      (v)   External Verification.  Notwithstanding  anything to the contrary in
            the definitions of Valuation Agent or Valuation Date, at any time at
            which no  Relevant  Entity  has credit  ratings  from Fitch at least
            equal to a Fitch  Intermediate  Trigger Downgrade Event has occurred
            and is continuing, the Valuation Agent shall (A) calculate the Fitch
            Value of Posted Credit Support and the Secured  Party's  Exposure on
            each  Valuation  Date based on  internal  marks and (B) verify  such
            calculations  with  external  marks  weekly by obtaining on the last
            Local  Business Day of each calendar week one external mark for each
            Transaction  to which this Annex  relates and for all Posted  Credit
            Support.  Each external  mark in respect of a  Transaction  shall be
            obtained from an independent Reference  Market-maker.  The Valuation
            Agent  shall  obtain  these  external  marks  directly or through an
            independent  third party,  in either case at no cost to Party B. The
            Valuation Agent shall calculate on each Valuation Date (for purposes
            of this paragraph, the last Local Business Day in each calendar week
            shall be considered a Valuation Date) the Secured  Party's  Exposure
            and the

REFERENCE NUMBER: N727633N

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            Fitch  Value  of  Posted  Collateral  based  on the  greater  of the
            Valuation Agent's internal marks and the external mark received.

(d)   Conditions  Precedent  and  Secured  Party's  Rights  and  Remedies.   The
      following Termination Events will be a "Specified Condition" for the party
      specified  (that party being the Affected Party if the  Termination  Event
      occurs  with  respect  to that  party):  With  respect  to  Party  A:  any
      Additional  Termination  Event with  respect to which  Party A is the sole
      Affected Party. With respect to Party B: None.

(e)   Substitution.

      (i)   "Substitution Date" has the meaning specified in Paragraph 4(d)(ii).

      (ii)  Consent.  If  specified  here as  applicable,  then the Pledgor must
            obtain the Secured Party's consent for any substitution  pursuant to
            Paragraph 4(d): Inapplicable.

(f)   Dispute Resolution.

      (i)   "Resolution  Time"  means  1:00  p.m.  New  York  time on the  Local
            Business Day  following  the date on which the notice of the dispute
            is given under Paragraph 5.

      (ii)  Value. Notwithstanding anything to the contrary in Paragraph 12, for
            the purpose of Paragraphs 5(i)(C) and 5(ii), the S&P Value and Fitch
            Value on any date,  of Eligible  Collateral  will be  calculated  as
            follows:

            For  Eligible   Collateral  other  than  Cash  listed  in  Paragraph
            13(b)(ii): the sum of (A) the product of (1)(x) the bid price at the
            Valuation  Time  for  such  securities  on  the  principal  national
            securities  exchange on which such securities are listed,  or (y) if
            such  securities are not listed on a national  securities  exchange,
            the bid price for such  securities  quoted at the Valuation  Time by
            any  principal  market  maker for such  securities  selected  by the
            Valuation Agent, or (z) if no such bid price is listed or quoted for
            such  date,  the bid price  listed or quoted (as the case may be) at
            the  Valuation  Time for the day next  preceding  such date on which
            such  prices  were  available  and  (2)  the  applicable   Valuation
            Percentage  for  such  Eligible  Collateral,  and  (B)  the  accrued
            interest on such securities (except to the extent Transferred to the
            Pledgor pursuant to Paragraph 6(d)(ii) or included in the applicable
            price  referred to in the  immediately  preceding  clause (A)) as of
            such date.

            For Cash,  the  amount  thereof  multiplied,  in the case of the S&P
            Value, by the applicable S&P Valuation Percentage.

      (iii) Alternative. The provisions of Paragraph 5 will apply.

(g)   Holding and Using Posted Collateral.

      (i)   Eligibility to Hold Posted Collateral;  Custodians.  Party B (or any
            Custodian)  will be entitled to hold Posted  Collateral  pursuant to
            Paragraph 6(b).

            Party B may  appoint as  Custodian  (A) the entity  then  serving as
            Supplemental  Interest  Trustee  or (B) any  entity  other  than the
            entity then serving as Supplemental  Interest  Trustee if such other
            entity (or, to the extent  applicable,  its parent company or credit
            support  provider)  (i) shall then have credit  ratings from S&P and
            Fitch at least equal to the Custodian Required Rating Threshold, and
            (ii) is a depository  institution that (a) is subject to supervision
            or examination by a federal or state  authority,  (b) has a combined
            capital and surplus of at least $15 million and (c) is  qualified to
            do  business  in New York.  If any entity  referred to in clause (B)
            above is the Custodian for Party

REFERENCE NUMBER: N727633N

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            B and such entity fails after its  appointment  as Custodian to meet
            the Custodian Required Rating Threshold,  Party B shall replace such
            Custodian with an entity meeting the applicable  requirements  above
            within 60 days following such failure to meet the Custodian Required
            Rating Threshold.

            Initially,  the  Custodian  for  Party B is:  Supplemental  Interest
            Trustee.

      (ii)  Use of Posted Collateral.  The provisions of Paragraph 6(c) will not
            apply to Party B or its Custodian;  provided, however, that if Party
            A delivers  Posted  Collateral in book-entry  form,  then  Paragraph
            6(c)(ii)  will apply to Party B and its  Custodian,  and Party B and
            its Custodian shall have the rights specified in Paragraph 6(c)(ii).

(h)   Distributions and Interest Amount.

      (i)   Interest Rate. The "Interest  Rate" will be the actual interest rate
            earned  on  Posted  Collateral  in the form of Cash  that is held by
            Party B or its  Custodian.  Posted  Collateral  in the  form of Cash
            shall be invested in such overnight (or redeemable  within two Local
            Business Days of demand)  Permitted  Investments rated at least AAAm
            or AAAm-G by S&P  (unless  (x) an Event of Default or an  Additional
            Termination  Event has occurred with respect to which Party A is the
            defaulting or sole Affected Party or (y) an Early  Termination  Date
            has been designated,  in which case such Posted  Collateral shall be
            held  uninvested).  Gains and  losses  incurred  in  respect  of any
            investment  of Posted  Collateral  in the form of Cash in  Permitted
            Investments as directed by Party A shall be for the account of Party
            A.

      (ii)  Transfer of Interest  Amount.  The Transfer of the  Interest  Amount
            will be made on the second Local  Business Day  following the end of
            each  calendar  month and on any other Local  Business  Day on which
            Posted  Collateral in the form of Cash is Transferred to the Pledgor
            pursuant to Paragraph 3(b); provided,  however,  that the obligation
            of  Party B to  Transfer  any  Interest  Amount  to Party A shall be
            limited to the extent  that  Party B has  earned and  received  such
            funds and such funds are  available to Party B. The last sentence of
            Paragraph  6(d)(ii) is hereby amended by adding the words  "actually
            received by Party B but" after the words "Interest Amount or portion
            thereof".

      (iii) Alternative to Interest Amount. The provisions of Paragraph 6(d)(ii)
            (as amended herein) will apply.

      (iv)  Distributions.  Paragraph  6(d)(i)  shall be deleted in its entirety
            and replaced with the following:

            "Distributions.  Subject  to  Paragraph  4(a),  if Party B  receives
            Distributions  on a Local  Business Day, it will Transfer to Party A
            not later than the following Local Business Day any Distributions it
            receives to the extent that a Delivery  Amount  would not be created
            or increased by that Transfer,  as calculated by the Valuation Agent
            (and the date of  calculation  will be deemed to be a Valuation Date
            for this purpose)."

(i)   Additional  Representation(s).  There are no additional representations by
      either party.

(j)   Other Eligible Support and Other Posted Support.

      (i)   "Value"  with  respect to Other  Eligible  Support and Other  Posted
            Support means: not applicable.

      (ii)  "Transfer"  with respect to Other Eligible  Support and Other Posted
            Support means: not applicable.

REFERENCE NUMBER: N727633N

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(k)   Demands and Notices.  All demands,  specifications  and notices under this
      Annex will be made  pursuant  to the  Notices  Section of this  Agreement,
      except that any demand,  specification or notice shall be given to or made
      at the following addresses, or at such other address as the relevant party
      may from time to time designate by giving notice (in  accordance  with the
      terms of this paragraph) to the other party:

      If to Party A, at the address specified pursuant to the Notices Section of
      this Agreement.

      If to Party B, at the address specified pursuant to the Notices Section of
      this Agreement.

      If to Party  B's  Custodian:  at the  address  specified  pursuant  to the
      Notices Section of this Agreement.

(l)   Address  for  Transfers.  Each  Transfer  hereunder  shall  be made to the
      address specified below or to an address specified in writing from time to
      time by the party to which such Transfer will be made.

      Party A account details for holding collateral

              A/C With:            DB Trust Co. Americas, New York
              Swift Code:          BKTRUUS33 / ABA 021001033
              Favour of:           Deutsche Bank AG, New York
              Account Number:      01 473 969
              Reference:           (please provide)

      Party B's Custodian account details for holding collateral:

                                   Deutsche Bank Trust Co-Americas
              ABA Number:          021-001-033
              Account Number:      01419663
              Account Name:        NYLTD Funds Control - Stars West
              Ref:                 IndyMac INDA Mortgage Loan Trust 2007-AR8
                                   (Swap Account)

(m)   Other Provisions.

      (i)   Collateral  Account.  Party B shall open and  maintain a  segregated
            account, and hold, record and identify all Posted Collateral in such
            segregated account.

      (ii)  Agreement as to Single Secured Party and Single Pledgor. Party A and
            Party B hereby agree that,  notwithstanding anything to the contrary
            in this Annex,  (a) the term  "Secured  Party" as used in this Annex
            means  only  Party B, (b) the term  "Pledgor"  as used in this Annex
            means  only  Party A, (c) only Party A makes the pledge and grant in
            Paragraph 2, the  acknowledgement in the final sentence of Paragraph
            8(a) and the representations in Paragraph 9.

      (iii) Calculation  of Value.  Paragraph 4(c) is hereby amended by deleting
            the word "Value" and  inserting  in lieu  thereof "S&P Value,  Fitch
            Value".  Paragraph  4(d)(ii) is hereby  amended by (A)  deleting the
            words "a Value" and  inserting  in lieu  thereof "an S&P Value and a
            Fitch Value" and (B) deleting the words "the Value" and inserting in
            lieu  thereof  "S&P  Value  and  Fitch  Value".  Paragraph  5 (flush
            language)  is  hereby  amended  by  deleting  the word  "Value"  and
            inserting in lieu thereof "S&P Value or Fitch Value". Paragraph 5(i)
            (flush  language) is hereby amended by deleting the word "Value" and
            inserting  in lieu thereof  "S&P Value and Fitch  Value".  Paragraph
            5(i)(C) is hereby  amended by deleting the word "the Value,  if" and
            inserting in lieu thereof "any one or more of the S&P Value or Fitch
            Value, as may be". Paragraph 5(ii) is hereby amended by (1) deleting
            the first  instance of the words "the Value" and  inserting  in lieu
            thereof  "any one or more of the S&P Value or Fitch  Value"  and (2)
            deleting the second  instance of the words "the Value" and inserting
            in lieu thereof "such disputed S&P Value or Fitch Value". Each of

REFERENCE NUMBER: N727633N

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            Paragraph  8(b)(iv)(B)  and  Paragraph  11(a) is hereby  amended  by
            deleting  the word "Value" and  inserting in lieu thereof  "least of
            the S&P Value and Fitch Value".

      (iv)  Form of  Annex.  Party A and Party B hereby  agree  that the text of
            Paragraphs 1 through 12, inclusive,  of this Annex is intended to be
            the printed form of ISDA Credit Support Annex (Bilateral Form - ISDA
            Agreements  Subject to New York Law Only  version) as published  and
            copyrighted  in  1994 by the  International  Swaps  and  Derivatives
            Association, Inc.

      (v)   Events of Default.  Paragraph 7 will not apply to cause any Event of
            Default to exist with respect to Party B except that  Paragraph 7(i)
            will  apply to Party B solely in  respect  of Party B's  obligations
            under Paragraph 3(b) of the Credit Support Annex.

      (vi)  Expenses.  Notwithstanding anything to the contrary in Paragraph 10,
            the Pledgor will be responsible  for, and will reimburse the Secured
            Party for, all transfer and other taxes and other costs  involved in
            maintenance and any Transfer of Eligible Collateral.

      (vii) Withholding.  Paragraph  6(d)(ii)  is hereby  amended  by  inserting
            immediately  after "the Interest  Amount" in the fourth line thereof
            the words "less any applicable withholding taxes."

      (viii) Additional Definitions. As used in this Annex:

            "Custodian  Required  Rating  Threshold"  means,  with respect to an
            entity, (i) a short-term  unsecured and  unsubordinated  debt rating
            from S&P of "A-1,"  or, if such  entity  does not have a  short-term
            unsecured  and  unsubordinated  debt  rating  from S&P, a  long-term
            unsecured and unsubordinated debt rating or counterparty rating from
            S&P of "A+", and (ii) a long-term  unsecured and unsubordinated debt
            rating  from  Fitch  of  "BBB"  and  a  short-term   unsecured   and
            unsubordinated debt rating from Fitch of "F2".

            "Exposure"  has the meaning  specified in Paragraph  12, except that
            (1)  after  the word  "Agreement"  the  words  "(assuming,  for this
            purpose only, that Part  1(f)(i)(A)-(E) of the Schedule is deleted)"
            shall be inserted and (2) at the end of the  definition of Exposure,
            the words "with terms that are, in all  material  respects,  no less
            beneficial for Party B than those of this Agreement" shall be added.

            "Fitch First Trigger  Downgrade Event" means that no Relevant Entity
            has  credit  ratings  from Fitch at least  equal to the Fitch  First
            Trigger Ratings Threshold.

            "Fitch Credit Support Amount" means, for any Valuation Date:

            (A)   if the Fitch  Threshold  for such  Valuation  Date is zero, an
                  amount  equal to the sum of (1) 100.0% of the Secured  Party's
                  Exposure  for such  Valuation  Date and (2) the sum,  for each
                  Transaction to which this Annex relates, of the product of (i)
                  the related  Fitch  Volatility  Cushion for such  Transaction,
                  (ii)  the   Scale   Factor   (as   defined   in  the   related
                  Confirmation),  if any, for such  Transaction  or, if no Scale
                  Factor is applicable for such Transaction,  one, and (iii) the
                  Notional Amount of such Transaction for the Calculation Period
                  of such  Transaction  which includes such Valuation  Date, and
                  (iv) 105%, or

            (B)   if the Fitch  Threshold for such  Valuation  Date is infinity,
                  zero.

            "Fitch Intermediate  Ratings Threshold" means, with respect to Party
            A,  the  guarantor  under  an  Eligible  Guarantee,  or an  Eligible
            Replacement,  a long-term  unsecured and unsubordinated  debt rating
            from Fitch of "BBB+" and a short-term  unsecured and  unsubordinated
            debt rating from Fitch of "F2".

REFERENCE NUMBER: N727633N

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            "Fitch Intermediate  Trigger Downgrade Event" means that no Relevant
            Entity has  credit  ratings  from Fitch at least  equal to the Fitch
            Intermediate Ratings Threshold.

            "Fitch Valuation  Percentage" means, for any Valuation Date and each
            item of Eligible Collateral,  the corresponding  percentage for such
            Eligible   Collateral  in  the  column   headed   "Fitch   Valuation
            Percentage".

            "Fitch  Value"  means,  on any date and with respect to any Eligible
            Collateral  other  than  Cash,  the  product  of (x) the  bid  price
            obtained by the Valuation Agent for such Eligible Collateral and (y)
            the Fitch  Valuation  Percentage  for such Eligible  Collateral  set
            forth in paragraph 13(b)(ii).

            "Fitch Volatility Cushion" means, for any Transaction, 0.19%.

            "Local Business Day" means,  for purposes of this Annex:  any day on
            which (A) commercial banks are open for business (including dealings
            in foreign exchange and foreign  currency  deposits) in New York and
            the  location  of Party  A,  Party B and any  Custodian,  and (B) in
            relation to a Transfer of Eligible Collateral,  any day on which the
            clearance  system  agreed  between the  parties for the  delivery of
            Eligible   Collateral  is  open  for  acceptance  and  execution  of
            settlement  instructions  (or in the case of a  Transfer  of Cash or
            other  Eligible  Collateral for which  delivery is  contemplated  by
            other means a day on which  commercial  banks are open for  business
            (including dealings in foreign exchange and foreign deposits) in New
            York and in the location of Party A, Party B and any Custodian).

            "Next  Payment"  means,  in respect of each Next Payment  Date,  the
            greater of (i) the  aggregate  amount of any payments due to be made
            by Party A under  Section  2(a) on such Next  Payment  Date less the
            aggregate  amount  of any  payments  due to be made by Party B under
            Section 2(a) on such Next Payment Date (any such payments determined
            based on rates prevailing the date of determination) and (ii) zero.

            "Next  Payment  Date"  means  each date on which the next  scheduled
            payment under any Transaction is due to be paid.

            "Pricing  Sources"  means  the  sources  of  financial   information
            commonly  known as  Bloomberg,  Bridge  Information  Services,  Data
            Resources Inc., Interactive Data Services,  International Securities
            Market Association, Merrill Lynch Securities Pricing Service, Muller
            Data Corporation,  Reuters, Wood Gundy, Trepp Pricing, JJ Kenny, S&P
            and Telerate.

            "Remaining  Weighted  Average  Maturity"  means,  with  respect to a
            Transaction,   the  expected  weighted  average  maturity  for  such
            Transaction as determined by the Valuation Agent.

            "S&P Approved Ratings Downgrade Event" means that no Relevant Entity
            has  credit  ratings  from  S&P at least  equal to the S&P  Approved
            Ratings Threshold.

            "S&P Credit Support Amount" means, for any Valuation Date:

            (A)   if the S&P Threshold for such Valuation Date is zero and it is
                  not the case that an S&P Required Ratings  Downgrade Event has
                  occurred and been  continuing  for at least 10 Local  Business
                  Days, an amount equal to the Secured Party's Exposure;

            (B)   if the S&P Threshold for such Valuation Date is zero and it is
                  the case  that an S&P  Required  Ratings  Downgrade  Event has
                  occurred and been  continuing  for at least 10 Local  Business
                  Days, an amount equal to 125% of the Secured Party's Exposure;
                  or

REFERENCE NUMBER: N727633N

<PAGE>

            (C)   if the S&P  Threshold  for such  Valuation  Date is  infinity,
                  zero.

            "S&P Valuation  Percentage"  means, with respect to a Valuation Date
            and each item of Eligible Collateral,

            (A)   if the S&P Threshold for such Valuation Date is zero and it is
                  not the case that a S&P Required  Ratings  Downgrade Event has
                  occurred and been  continuing  for at least 10 Local  Business
                  Days,   the   corresponding   percentage   for  such  Eligible
                  Collateral  in  the  column   headed  "S&P  Approved   Ratings
                  Valuation Percentage" or

            (B)   if an S&P Required  Ratings  Downgrade  Event has occurred and
                  been  continuing  for at  least 10 Local  Business  Days,  the
                  corresponding  percentage for such Eligible  Collateral in the
                  column headed "S&P Required Ratings Valuation Percentage".

            "S&P  Value"  means,  on any date and with  respect to any  Eligible
            Collateral,  (A) in the case of Eligible Collateral other than Cash,
            the product of (x) the bid price obtained by the Valuation Agent for
            such  Eligible  Collateral  and (y)  the  applicable  S&P  Valuation
            Percentage  for such  Eligible  Collateral  set  forth in  paragraph
            13(b)(ii) and (B) in the case of Cash, the amount thereof multiplied
            by the applicable S&P Valuation Percentage.

            "Transaction   Exposure"  means,   for  any  Transaction,   Exposure
            determined as if such Transaction were the only Transaction  between
            the Secured Party and the Pledgor.

            "Transaction-Specific  Hedge" means any  Transaction  that is (i) an
            interest  rate swap in respect of which (x) the  notional  amount of
            the interest rate swap is "balance  guaranteed"  or (y) the notional
            amount of the  interest  rate swap for any  Calculation  Period  (as
            defined in the  related  Confirmation)  otherwise  is not a specific
            dollar  amount that is fixed at the  inception  of the  Transaction,
            (ii) an interest  rate cap,  (iii) an interest rate floor or (iv) an
            interest rate swaption.

            "Valuation  Percentage"  shall mean, for purposes of determining the
            S&P Value or Fitch Value with respect to any Eligible  Collateral or
            Posted Collateral,  the applicable S&P Valuation Percentage or Fitch
            Valuation   Percentage  for  such  Eligible   Collateral  or  Posted
            Collateral,  respectively,  in each case as set  forth in  Paragraph
            13(b)(ii).

            "Value"  shall mean,  in respect of any date,  the related S&P Value
            and the related Fitch Value.

                [Remainder of this page intentionally left blank]

REFERENCE NUMBER: N727633N

<PAGE>

IN  WITNESS  WHEREOF,  the  parties  have  executed  this  Annex by  their  duly
authorized representatives as of the date of the Agreement.

<TABLE>
<CAPTION>
<S>                                                          <C>
DEUTSCHE BANK AG, NEW YORK BRANCH                            DEUTSCHE  BANK   NATIONAL   TRUST   COMPANY,   NOT  IN  ITS
                                                             INDIVIDUAL   OR   CORPORATE    CAPACITY   BUT   SOLELY   AS
                                                             SUPPLEMENTAL    INTEREST   TRUSTEE   ON   BEHALF   OF   THE
                                                             SUPPLEMENTAL  INTEREST  TRUST IN RESPECT  OF  INDYMAC  INDA
                                                             MORTGAGE LOAN TRUST 2007-AR8

By: /s/ Audrey Kong                                          By: /s/ Jennifer Hermansader
   -----------------------------------------                    -----------------------------------------
   Name    Audrey Kong                                          Name:   Jennifer Harmansader
   Title:  Associate                                            Title:  Associate
   Date:   November 29, 2007                                    Date:   November 29, 2007

By: /s/ Costantino Palermo                                   By: /s/ Marion Hogan
   -----------------------------------------                    -----------------------------------------
   Name    Costantino Palermo                                   Name:   Marion Hogan
   Title:  Associate                                            Title:  Associate
   Date:   November 29, 2007                                    Date:   November 29, 2007

</TABLE>

REFERENCE NUMBER: N727633NEXHIBIT 10.3
                                  ------------

                            The Item 1115 Agreement.
<PAGE>

         Item 1115 Agreement dated as of May 30, 2006 (this "Agreement"),
between IndyMac Bank, F.S.B.., a federal savings bank ("IndyMac Bank"), IndyMac
MBS, Inc., a Delaware corporation ("IndyMac MBS"), IndyMac ABS, Inc., a Delaware
corporation ("IndyMac ABS"), and Deutsche Bank AG, New York Branch, as
counterparty (the "Counterparty").
                                    RECITALS

                  WHEREAS, IndyMac MBS and IndyMac ABS each have filed
Registration Statements on Form S-3 (each, a "Registration Statement") with the
Securities and Exchange Commission (the "Commission") for purposes of offering
mortgage backed or asset-backed notes and/or certificates (the "Securities")
through special purpose vehicles (each, an "SPV").

                  WHEREAS, from time to time, on the closing date (the "Closing
Date") of a transaction pursuant to which Securities are offered (each, a
"Transaction"), the Counterparty and the SPV or an underwriter or dealer with
respect to the Transaction, enter into certain derivative agreements (each, a
"Derivative Agreement"), including interest rate or currency swaps, for purposes
of providing certain yield enhancements to the SPV or the related trustee on
behalf of the SPV or a swap or corridor contract administrator (each, an
"Administrator").
                  NOW, THEREFORE, in consideration of the mutual agreements set
forth herein and for other good and valuable consideration, the receipt and
adequacy of which is hereby acknowledged, the parties hereby agree as follows:

Section 1.        Definitions

                  Company Information:  As defined in Section 4(a)(i).

                  Company Financial Information: As defined in Section 2(a)(ii).

                  Depositor: Means IndyMac MBS and IndyMac ABS with respect to
the related Registration Statement for which the entity is the registrant.

                  GAAP: As defined in Section 3(a)(v).

                  EDGAR: The Commission's Electronic Data Gathering, Analysis
and Retrieval system.

                  Exchange Act: The Securities Exchange Act of 1934, as amended
and the rules and regulations promulgated thereunder.

                  Exchange Act Reports: All Distribution Reports on Form 10-D,
Current Reports on Form 8-K and Annual Reports on Form 10-K that are to be filed
with respect to the related SPV pursuant to the Exchange Act.

                  IFRS: Has the meaning set forth in Section 3(a)(v).

<PAGE>

                  Master Agreement: The ISDA Master Agreement between the
Counterparty and SPV, or if no such Master Agreement exists, the ISDA Master
Agreement assumed to apply to the Derivative Agreement pursuant to its terms.

                  Prospectus Supplement: The prospectus supplement prepared in
connection with the public offering and sale of the related Securities.

                  Regulation AB: Subpart 229.1100 - Asset Backed Securities
(Regulation AB), 17 C.F.R. ss.ss.229.1100-229.1123, as such may be amended from
time to time, and subject to such clarification and interpretation as have been
provided by the Commission in the adopting release (Asset-Backed Securities,
Securities Act Release No. 33-8518, 70 Fed. Reg. 1,506, 1,531 (Jan. 7, 2005)) or
by the staff of the Commission, or as may be provided by the Commission or its
staff from time to time.

                  Securities Act: The Securities Act of 1933, as amended, and
the rules and regulations promulgated thereunder.

Section 2.        Information to be Provided by the Counterparty.

         (a)      Prior to printing the related Prospectus Supplement,

                  (i)      the Counterparty shall provide to the related
                           Depositor such information regarding the
                           Counterparty, as a derivative instrument
                           counterparty, as is reasonably requested by the
                           related Depositor for the purpose of compliance with
                           Item 1115(a)(1) of Regulation AB. Such information
                           shall include, at a minimum:

                           (A)      the Counterparty's legal name (and any
                                    d/b/a);

                           (B)      the organizational form of the Counterparty;
                                    and

                           (C)      a description of the general character of
                                    the business of the Counterparty;

                  (ii)     if requested by the related Depositor for the purpose
                           of compliance with Item 1115(b) with respect to a
                           Transaction (prior to the related Depositor taking
                           the steps necessary to suspend its obligation to file
                           Exchange Act Reports with respect to the SPV under
                           Sections 13 and 15(d) of the Exchange Act, in
                           accordance with the requirements of Regulation AB)
                           the Counterparty shall:

                           (A)      provide the financial data required by Item
                                    1115(b)(1) or (b)(2) of Regulation AB (as
                                    specified by the related Depositor to the
                                    Counterparty) with respect to the
                                    Counterparty, any affiliated entities
                                    providing derivative instruments to the SPV
                                    and any entities guaranteeing the
                                    obligations of the Counterparty or any
                                    affiliate entity providing derivative
                                    instruments to the SPV (a "Counterparty
                                    Guarantor") (the "Company Financial

                                        2
<PAGE>

                                    Information"), in a form appropriate for use
                                    in the Prospectus Supplement and in an
                                    EDGAR-compatible form (if not incorporated
                                    by reference) and hereby authorizes the
                                    related Depositor to incorporate by
                                    reference the financial data required by
                                    Item 1115(b)(2) of Regulation AB; and

                           (B)      if applicable, cause its accountants to
                                    issue their consent to the filing or the
                                    incorporation by reference of such financial
                                    statements in the Registration Statement.

         (b)      Following the Closing Date with respect to a Transaction, and
                  until the related Depositor takes the steps necessary to
                  suspend its obligation to file Exchange Act Reports with
                  respect to the SPV under Sections 13 and 15(d) of the Exchange
                  Act,

                  (i)      if the Counterparty provided Company Financial
                           Information to the related Depositor for the
                           Prospectus Supplement, within 5 Business Days of the
                           release of any updated financial data, the
                           Counterparty shall (1) provide current Company
                           Financial Information (including Company Financial
                           Information of any Counterparty Guarantor) as
                           required under Item 1115(b) of Regulation AB to the
                           related Depositor in an EDGAR-compatible form (if not
                           incorporated by reference) and hereby authorizes the
                           related Depositor to incorporate by reference the
                           financial data required by Item 1115(b)(2) of
                           Regulation AB, and (2) if applicable, cause its
                           accountants (and, if applicable, the accountants of
                           any Counterparty Guarantor) to issue their consent to
                           filing or incorporation by reference of such
                           financial statements in the Exchange Act Reports of
                           the SPV; and

                  (ii)     if the related Depositor requests Company Financial
                           Information from the Counterparty, for the purpose of
                           compliance with Item 1115(b) of Regulation AB
                           following the Closing Date, the Counterparty shall
                           upon five Business Days written notice either (A),
                           (1) provide current Company Financial Information
                           (including Company Financial Information of any
                           Counterparty Guarantor) as required under Item
                           1115(b) of Regulation AB to the related Depositor in
                           an EDGAR-compatible form (if not incorporated by
                           reference) and hereby authorizes the related
                           Depositor to incorporate by reference the financial
                           data required by Item 1115(b)(2) of Regulation AB,
                           (2) if applicable, cause its accountants (and, if
                           applicable, the accountants of any Counterparty
                           Guarantor) to issue their consent to filing or
                           incorporation by reference of such financial
                           statements in the Exchange Act Reports of the SPV and
                           (3) within 5 Business Days of the release of any
                           updated financial data, provide current Company
                           Financial Information (including Company Financial
                           Information of any Counterparty Guarantor) as
                           required under Item 1115(b) of Regulation AB to the
                           related Depositor in an EDGAR-compatible form and if
                           applicable, cause its accountants (and, if
                           applicable, the accountants of any Counterparty
                           Guarantor) to issue their consent to filing or
                           incorporation by

                                        3

<PAGE>

                           reference of such financial statements in the
                           Exchange Act Reports of the SPV or (B) assign the
                           Derivative Agreement as provided below.

Section 3.        Representations and Warranties and Covenants of the
                  Counterparty.

         (a)      The Counterparty represents and warrants to the related
                  Depositor, as of the date on which information is first
                  provided to the related Depositor under Section 2(a)(ii),
                  Section 2(b)(ii) or Section 2(b)(iii)(A), that, except as
                  disclosed in writing the related Depositor prior to such date:

                  (i)      Each of the Counterparty, and, if applicable, any
                           Company Guarantor is required to file reports with
                           the Commission pursuant to section 13(a) or 15(d) of
                           the Exchange Act.

                  (ii)     Each of the Counterparty, and, if applicable, any
                           Company Guarantor has filed all reports and other
                           materials required to be filed by such requirements
                           during the preceding 12 months (or such shorter
                           period that such party was required to file such
                           reports and materials).

                  (iii)    Each of the reports filed by the Counterparty and, if
                           applicable, any Company Guarantor include (or
                           properly incorporate by reference) the financial
                           statements of the Counterparty or, if applicable,
                           such Company Guarantor.

                  (iv)     The accountants who certify the financial statements
                           and supporting schedules included in the Company
                           Financial Information (including Company Financial
                           Information of any Counterparty Guarantor) (if
                           applicable) are independent registered public
                           accountants as required by the Securities Act.

                  (v)      If applicable, with respect to the Counterparty and
                           each Counterparty Guarantor, either (I) the financial
                           statements included in the Company Financial
                           Information present fairly the consolidated financial
                           position of the Counterparty or such Counterparty
                           Guarantor, as applicable and its consolidated
                           subsidiaries as at the dates indicated and the
                           consolidated results of their operations and cash
                           flows for the periods specified; except as otherwise
                           stated in the Company Financial Information, said
                           financial statements have been prepared in conformity
                           with generally accepted accounting principles
                           ("GAAP") applied on a consistent basis; and the
                           supporting schedules included in the Company
                           Financial Information present fairly in accordance
                           with GAAP the information required to be stated
                           therein or (II) if the Counterparty or Counterparty
                           Guarantor has adopted International Financial
                           Reporting Standards and International Accounting
                           Standards (collectively "IFRS") for the purpose of
                           preparing its financial statements, the Company
                           Financial Information present fairly the consolidated
                           financial position of the Counterparty or such
                           Counterparty Guarantor, as applicable and its
                           consolidated subsidiaries as

                                        4

<PAGE>

                           at the dates indicated and the consolidated results
                           of their operations and cash flows for the periods
                           specified; except as otherwise stated in the Company
                           Financial Information, said financial statements have
                           been prepared in conformity with IFRS applied on a
                           consistent basis; and the supporting schedules
                           included in the Company Financial Information present
                           fairly in accordance with IFRS the information
                           required to be stated therein and such Company
                           Financial Information has been reconciled with GAAP.

                  (vi)     The selected financial data and summary financial
                           information included in the Company Financial
                           Information present fairly the information shown
                           therein and have been compiled on a basis consistent
                           with that of the audited financial statements of the
                           Counterparty.

                  (vii)    The Company Financial Information and other Company
                           Information included or incorporated by reference in
                           the Registration Statement (including through filing
                           on an Exchange Act Report), at the time they were or
                           hereafter are filed with the Commission, complied in
                           all respects with the requirements of Item 1115(b) of
                           Regulation AB (in the case of the Company Financial
                           Information) and, did not and will not contain an
                           untrue statement of a material fact or omit to state
                           a material fact required to be stated therein or
                           necessary in order to make the statements therein, in
                           the light of the circumstances under which they were
                           made, not misleading.

         (b)      If the Counterparty or a Counterparty Guarantor has provided
                  Company Financial Information that is incorporated by
                  reference into the Registration Statement of the related
                  Depositor, the Counterparty or such Counterparty Guarantor, so
                  long as the related Depositor is required to file Exchange Act
                  Reports with respect to the SPV, will file promptly all
                  documents required to be filed with the Commission pursuant to
                  Section 13 or 14 of the Exchange Act. If permitted by the
                  Exchange Act, the related Depositor will take the steps
                  necessary to suspend its obligation to file Exchange Act
                  Reports, with respect to the SPV, under Sections 13 and 15(d)
                  of the Exchange Act.

         (c)      If at any time the representations and warranties set forth in
                  3(a)(i) through (iii) are no longer true and correct, the
                  Counterparty or the Counterparty Guarantor, as applicable,
                  shall provide notice to the related Depositor, and if any
                  Company Financial Information is required to be included in
                  the Registration Statement, or the Exchange Act Reports of the
                  SPV, will provide to the related Depositor such Company
                  Financial Information in EDGAR-compatible format no later than
                  the 20th calendar day of the month in which any of the
                  representations or warranties in Section 3(a)(i) through (iii)
                  ceased to be correct.

         (d)      The Counterparty agrees that the terms of this Agreement shall
                  be incorporated by reference into any Derivative Agreement so
                  that each SPV who is a beneficiary of

                                        5

<PAGE>

                  a Derivative Agreement shall be an express third party
                  beneficiary of this Agreement.

Section 4.        Indemnification; Remedies

         (a)      Each of the Counterparty and any Counterparty Guarantor shall
                  indemnify IndyMac Bank and the related Depositor, each person
                  responsible for the preparation, execution or filing of any
                  report required to be filed with the Commission with respect
                  to such SPV, or for execution of a certification pursuant to
                  Rule 13a-14(d) or Rule 15d-14(d) under the Exchange Act; each
                  broker dealer acting as underwriter, each person who controls
                  any of such parties (within the meaning of Section 15 of the
                  Securities Act and Section 20 of the Exchange Act); and the
                  respective present and former directors, officers, employees
                  and agents of each of the foregoing, and shall hold each of
                  them harmless from and against any losses, damages, penalties,
                  fines, forfeitures, legal fees and expenses and related costs,
                  judgments, and any other costs, fees and expenses that any of
                  them may sustain arising out of or based upon:

                  (i)      (A) any untrue statement of a material fact contained
                           or alleged to be contained in any information,
                           report, accountants' consent or other material
                           provided in written or electronic form under Section
                           2 by or on behalf of the Counterparty or any
                           Counterparty Guarantor (collectively, the "Company
                           Information"), or (B) the omission or alleged
                           omission to state in the Company Information a
                           material fact required to be stated in the Company
                           Information or necessary in order to make the
                           statements therein, in the light of the circumstances
                           under which they were made, not misleading;

                  (ii)     any failure by the Counterparty or any Counterparty
                           Guarantor to deliver any information, report,
                           certification, accountants' consent or other material
                           or to assign the Derivative Agreement when and as
                           required under Section 2; or

                  (iii)    any breach by the Counterparty or any Counterparty
                           Guarantor of a representation or warranty set forth
                           in Section 3(a) and made as of a date prior to the
                           Closing Date, to the extent that such breach is not
                           cured by the Closing Date, or any breach by the
                           Counterparty or any Counterparty Guarantor of a
                           representation or warranty pursuant to Section 3 to
                           the extent made as of a date subsequent to the
                           Closing Date.

                  In the case of any failure or such Counterparty Guarantor of
                  performance described in clause (a)(ii) of this Section, the
                  Counterparty shall promptly reimburse the related Depositor
                  and each Person responsible for the preparation, execution or
                  filing of any report required to be filed with the Commission
                  with respect to such SPV, or for execution of a certification
                  pursuant to Rule 13a-14(d) or Rule 15d-14(d) under the
                  Exchange Act with respect to the SPV, for all costs reasonably
                  incurred by each such party in order to obtain the
                  information, report,

                                        6

<PAGE>

                  certification, accountants' consent or other material not
                  delivered as required by the Counterparty.

         (b)      (i)      Any failure by the Counterparty or any Counterparty
                           Guarantor to deliver any information, report,
                           accountants' consent or other material when and in
                           any case only as required under Section 2 or any
                           breach by the Counterparty or any Counterparty
                           Guarantor of a representation or warranty set forth
                           in Section 3 and made as of a date prior to the
                           Closing Date, to the extent that such breach is not
                           cured by the Closing Date (or in the case of
                           information needed for purposes of printing the
                           Prospectus Supplement, the date of printing of the
                           Prospectus Supplement), shall, except as provided in
                           clause (ii) of this paragraph, immediately and
                           automatically, without notice or grace period,
                           constitute an Additional Termination Event (as
                           defined in the Master Agreement) with the
                           Counterparty as the sole Affected Party (as defined
                           in the Master Agreement) under the Derivative
                           Agreement. Following such termination, a termination
                           payment (if any) shall be payable by the applicable
                           party as determined by the application of Section
                           6(e)(ii) of the Master Agreement, with Market
                           Quotation and Second Method being the applicable
                           method for determining the termination payment
                           (notwithstanding anything in the Derivative Agreement
                           to the contrary).

                  (ii)     If the Counterparty or any Counterparty Guarantor has
                           failed to deliver any information, report, or
                           accountants' consent when and as required under
                           Section 2, which continues unremedied for the lesser
                           of ten calendar days after the date on which such
                           information, report, or accountants' consent was
                           required to be delivered or such period in which the
                           applicable Exchange Act Report for which such
                           information is required can be timely filed (without
                           taking into account any extensions permitted to be
                           filed), or if the Counterparty has provided Company
                           Information any breach by the Counterparty or any
                           Counterparty Guarantor of a representation or
                           warranty pursuant to Section 3 to the extent made as
                           of a date subsequent to such closing date, and the
                           Counterparty has not, at its own cost, within the
                           period in which the applicable Exchange Act Report
                           for which such information is required can be timely
                           filed caused another entity (which meets any
                           applicable ratings threshold in the Derivative
                           Agreement) to replace the Counterparty as party to
                           the Derivative Agreement that (i) has signed an
                           agreement with IndyMac Bank and the Depositors
                           substantially in the form of this Agreement, (ii) has
                           agreed to deliver any information, report,
                           certification or accountants' consent when and as
                           required under Section 2 hereof and (iii) is approved
                           by the Depositor (which approval shall not be
                           unreasonably withheld) and any rating agency, if
                           applicable, on terms substantially similar to the
                           Derivative Agreement, then an Additional Termination
                           Event (as defined in the Master Agreement) shall have
                           occurred with the Counterparty as the sole Affected
                           Party. In the event that an Early Termination Date is
                           designated in connection with such Additional
                           Termination Event, a

                                        7

<PAGE>

                           termination payment (if any) shall be payable by the
                           applicable party as of the Early Termination Date as
                           determined by the application of Section 6(e)(ii) of
                           the Master Agreement, with Market Quotation and
                           Second Method being the applicable method for
                           determining the termination payment (notwithstanding
                           anything in the Derivative Agreement to the
                           contrary).

                  (iii)    In the event that the Counterparty or the SPV has
                           found a replacement entity in accordance with Section
                           4(b)(ii), the Counterparty shall promptly reimburse
                           the SPV for all reasonable incidental expenses
                           incurred by the SPV, as such are incurred, in
                           connection with the termination of the Counterparty
                           as counterparty and the entry into a new Derivative
                           Agreement. The provisions of this paragraph shall not
                           limit whatever rights the SPV may have under other
                           provisions of this Agreement or otherwise, whether in
                           equity or at law, such as an action for damages,
                           specific performance or injunctive relief.

Section 5.        Miscellaneous.

         (a)      Company Financial Information. Notwithstanding anything to the
                  contrary contained herein, if Regulation AB is amended, or the
                  Commission has issued interpretive guidance uniformly
                  applicable to registrants of Asset-Backed Securities allowing
                  the presentation of the financial information required by Item
                  1115 of Regulation AB with respect to an affiliate of the
                  Counterparty rather than the Counterparty and any affiliated
                  entities providing derivatives to the SPV, "Company Financial
                  Information" shall be deemed to refer to the financial
                  information of such permitted entity provided the Counterparty
                  has received written confirmation from IndyMac Bank that no
                  amendment to this Agreement is necessary. The parties shall
                  reasonably cooperate with respect to any amendments to this
                  Agreement to reflect such amendment or interpretation.

         (b)      Construction. Throughout this Agreement, as the context
                  requires, (a) the singular tense and number includes the
                  plural, and the plural tense and number includes the singular;
                  (b) the past tense includes the present, and the present tense
                  includes the past; and (c) references to parties, sections,
                  schedules, and exhibits mean the parties, sections, schedules,
                  and exhibits of and to this Agreement. The section headings in
                  this Agreement are inserted only as a matter of convenience,
                  and in no way define, limit, extend, or interpret the scope of
                  this Agreement or of any particular section.

         (c)      Assignment. None of the parties may assign their rights under
                  this Agreement without the prior written consent of the other
                  parties. Subject to the foregoing, this Agreement shall be
                  binding on and inure to the benefit of the parties and their
                  respective successors and permitted assigns.

         (d)      No Third-Party Benefits Except as Specified. None of the
                  provisions of this Agreement are intended to benefit, or to be
                  enforceable by, any third-party

                                        8

<PAGE>

                  beneficiaries except the related SPV and any trustee of an SPV
                  or any Administrator.

         (e)      Governing Law. This Agreement shall be governed by and
                  construed in accordance with the internal laws of the State of
                  New York without regard to the conflict of laws principles
                  thereof.

         (f)      Amendment and Waiver. This Agreement may not be modified or
                  amended except by an instrument in writing signed by the
                  parties hereto. No waiver of any provision of this Agreement
                  or of any rights or obligations of any party under this
                  Agreement shall be effective unless in writing and signed by
                  the party or parties waiving compliance, and shall be
                  effective only in the specific instance and for the specific
                  purpose stated in that writing.

         (g)      Counterparts. This Agreement may be executed in one or more
                  counterparts, each of which shall be deemed an original, but
                  all of which together shall constitute one and the same
                  instrument.

         (h)      Additional Documents. Each party hereto agrees to execute any
                  and all further documents and writings and to perform such
                  other actions which may be or become reasonably necessary or
                  expedient to effectuate and carry out this Agreement.

         (i)      Severability. Any provision hereof which is prohibited or
                  unenforceable shall be ineffective only to the extent of such
                  prohibition or unenforceability without invalidating the
                  remaining provisions hereof.

         (j)      Integration. This Agreement contains the entire understanding
                  of the parties with respect to the subject matter hereof.
                  There are no restrictions, agreements, promises,
                  representations, warranties, covenants or undertakings with
                  respect to the subject matter hereof other than those
                  expressly set forth or referred to herein. This Agreement
                  supersedes all prior agreements and understandings between the
                  parties with respect to its subject matter.

                                        9

<PAGE>

         IN WITNESS WHEREOF, the parties hereto have caused their names to be
signed hereto by their respective officers thereunto duly authorized as of the
day and year first above written.

                                            INDYMAC MBS, INC.

                                            By: /s/ Jill Jacobson
                                               ---------------------
                                               Name:  Jill Jacobson
                                               Title: Vice President

                                            INDYMAC ABS, INC.

                                            By: /s/ Jill Jacobson
                                               ---------------------
                                               Name:  Jill Jacobson
                                               Title: Vice President

                                            INDYMAC BANK, F.S.B.

                                            By: /s/ Jill Jacobson
                                               ---------------------
                                               Name:  Jill Jacobson
                                               Title: Vice President

                                            DEUTSCHE BANK AG, NEW YORK BRANCH

                                            By: /s/ Kathleen Yohe
                                               ---------------------
                                               Name:  Kathleen Yohe
                                               Title: Vice President

                                            By: /s/ Matthew Riba
                                               ---------------------
                                               Name:  Matthew Riba
                                               Title: Legal Counsel

                                       10

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