BancCap Asset Securitization Issuance Corp, BASIC Asset Backed Securities Trust 2006-1, Mortgage Pass-Through Certificates, Series 2006-1 Sample Contracts

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ISDA International Swap Dealers Association, Inc. MASTER AGREEMENT dated as of April 7, 2006
Master Agreement • April 21st, 2006 • BancCap Asset Securitization Issuance Corp, BASIC Asset Backed Securities Trust 2006-1, Mortgage Pass-Through Certificates, Series 2006-1 • Asset-backed securities • New York

have entered and/or anticipate entering into one or more transactions (each a Transaction) that are or will be governed by this Master Agreement, which includes the schedule (the Schedule), and the documents and other confirming evidence (each a Confirmation) exchanged between the parties confirming those Transactions.

SALE AND ASSIGNMENT AGREEMENT
Sale and Assignment Agreement • April 21st, 2006 • BancCap Asset Securitization Issuance Corp, BASIC Asset Backed Securities Trust 2006-1, Mortgage Pass-Through Certificates, Series 2006-1 • Asset-backed securities • New York

SALE AND ASSIGNMENT AGREEMENT, dated as of April 7, 2006 (this “Agreement”), among BICEP Owner Trust, a Delaware statutory trust (“Seller”), BancCap Asset Securitization Issuance Corporation (“Purchaser”) and BancCap Advisors LLC, as Program Administrator (“Program Administrator”).

BANCCAP ASSET SECURITIZATION ISSUANCE CORPORATION Depositor BASIC Asset Backed Securities Trust 2006-1 Mortgage Pass-Through Certificates, Series 2006-1 UNDERWRITING AGREEMENT
Underwriting Agreement • April 21st, 2006 • BancCap Asset Securitization Issuance Corp, BASIC Asset Backed Securities Trust 2006-1, Mortgage Pass-Through Certificates, Series 2006-1 • Asset-backed securities • New York

BancCap Asset Securitization Issuance Corporation, a corporation organized and existing under the laws of the State of Delaware (the “Company”), may offer for sale to you its Mortgage Pass-Through Certificates evidencing interests in pools of mortgage loans (the “Certificates”). The Certificates may be issued in one or more classes on terms determined at the time of sale (each such class, a “Class”). The Certificates will be issued under a Trust Agreement (the “Trust Agreement”) to be dated as of March 1, 2006 (the “Cut-off Date”) among the Company, as depositor, Ocwen Loan Servicing, LLC, as servicer, Wells Fargo Bank, N.A., as securities administrator, and U.S. Bank National Association, as trustee (the “Trustee”). Capitalized terms used but not defined herein shall have the meanings given to them in the Trust Agreement ..

BASIC ASSET BACKED SECURITIES TRUST 2006-1,
Custodial Agreement • April 21st, 2006 • BancCap Asset Securitization Issuance Corp, BASIC Asset Backed Securities Trust 2006-1, Mortgage Pass-Through Certificates, Series 2006-1 • Asset-backed securities • New York
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