Interest Rate Swap Transaction
The purpose of this letter agreement is to confirm the terms and conditions of the Transaction entered into between:
JPMORGAN CHASE BANK, N.A.
("JPMorgan")
and
U.S. Bank National Association, not in its individual capacity but solely as Trustee for the benefit of RASC Series 2006-KS6 Trust,
Home Equity Mortgage Asset-Backed Pass-Through Certificates, Series 2006-KS6
(the "Counterparty")
on the Trade Date and identified by the JPMorgan Deal Number specified below (the "Transaction"). This letter agreement constitutes a
"Confirmation" as referred to in the Master Agreement specified below, and supersedes any previous confirmation or other writing with
respect to the transaction described below.
The definitions and provisions contained in the 2000 ISDA Definitions (the "Definitions"), as published by the International Swaps
and Derivatives Association, Inc. are incorporated into this Confirmation. In the event of any inconsistency between those
definitions and provisions and this Confirmation, this Confirmation will govern.
This Confirmation supplements, forms part of, and is subject to, the ISDA Master Agreement dated as of July 28, 2006, as amended and
supplemented from time to time (the "Agreement"), between JPMORGAN CHASE BANK, N.A. ("JPMorgan") and U.S. Bank National Association,
not in its individual capacity but solely as Trustee for the benefit of RASC Series 2006-KS6 Trust, Home Equity Mortgage Asset-Backed
Pass-Through Certificates, Series 2006-KS6 (the "Counterparty"). All provisions contained in the Agreement govern this Confirmation
except as expressly modified below.
The terms of the particular Interest Rate Swap Transaction to which this Confirmation relates are as follows:
A. TRANSACTION DETAILS
JPMorgan Deal Number(s): 6900025873663
Notional Amount: Per attached schedule in Exhibit A
Trade Date: 18 July 2006
Effective Date: 28 July 2006
Termination Date: 25 July 2010 subject to adjustment in accordance with
the Following Business Day Convention
Fixed Amounts:
Fixed Rate Payer: Counterparty
Fixed Rate Payer Period End Dates: The 25th of each month in each year commencing with 25
August 2006 to and including the Termination Date,
subject to adjustment in accordance with the Following
Business Day Convention
Fixed Rate Payer Payment Dates: The Fixed Rate Payer Period End Date.
Fixed Rate: 5.611 percent
Fixed Rate Day Count Fraction: 30/360
Business Days: New York
Floating Amounts:
Floating Rate Payer: JPMorgan
Floating Rate Payer Period End Dates: The 25th of each month in each year commencing with 25 August 2006 to and
including the Termination Date, subject to adjustment in accordance with the
Following Business Day Convention
Floating Rate for initial Calculation
Period: 5.400 percent
Floating Rate Payer Payment Dates: Two (2) Business days preceding each Floating Rate Payer
Period End Date.
Floating Rate Option: USD-LIBOR-BBA
Designated Maturity: 1 Month
Spread: None
Floating Rate Day Count Fraction: Actual/360
Reset Dates: The first day of each Calculation Period.
Compounding: Inapplicable
Business Days: New York
Calculation Agent: JPMorgan, unless otherwise stated in the Agreement.
B. ACCOUNT DETAILS
Payments to JPMorgan in USD: JPMORGAN CHASE BANK NA
JPMORGAN CHASE BANK NA
BIC: XXXXXX00XXX
AC No: 099997979
Payments to Counterparty in USD: U.S. Bank National Association
ABA Number: 000000000
Account Number: 1731-0332-2058
Reference: RASC 2006-KS6
OBI: Attention: Xxxx Xxxxxx
Xxx: Acct No: 103859000
C. OFFICES
JPMorgan: NEW YORK
Counterparty: ST. XXXX
X. RELATIONSHIP BETWEEN PARTIES
Each party will be deemed to represent to the other party on the date on which it enters into a Transaction that (absent a written
agreement between the parties that expressly imposes affirmative obligations to the contrary for that Transaction):
(a) Non-Reliance. It is acting for its own account, and it has made its own independent decisions to enter into that Transaction and
as to whether that Transaction is appropriate or proper for it based upon its own judgment and upon advice from such advisers as it
has deemed necessary. It is not relying on any communication (written or oral) of the other party as investment advice or as a
recommendation to enter into that Transaction; it being understood that information and explanations related to the terms and
conditions of a Transaction shall not be considered investment advice or a recommendation to enter into that Transaction. No
communication (written or oral) received from the other party shall be deemed to be an assurance or guarantee as to the expected
results of that Transaction.
(b) Assessment and Understanding. It is capable of assessing the merits of and understanding (on its own behalf or through
independent professional advice), and understands and accepts, the terms, conditions and risks of that Transaction. It is capable of
assuming, and assumes the risks of that Transaction.
(c) Status of Parties. The other party is not acting as a fiduciary for or an adviser to it in respect of that Transaction.
E. TRUSTEE CAPACITY
It is expressly understood and agreed by the parties hereto that insofar as this Confirmation is executed by the Trustee (i) this
Confirmation is executed and delivered by U.S. Bank National Association, not in its individual capacity but solely as Trustee for
the benefit of RASC Series 2006-KS6 Trust, Home Equity Mortgage Asset-Backed Pass-Through Certificates, Series 2006-KS6 under the
Pooling and Servicing Agreement, dated as of July 1, 2006 (the "Pooling and Servicing Agreement"), among Residential Asset Securities
Corporation, as Depositor, Residential Funding Corporation, as Master Servicer, and U.S. Bank National Association, not in its
individual capacity but solely as Trustee, in the exercise of the powers and authority conferred and vested in it thereunder, (ii)
under no circumstances shall U.S. Bank National Association, in its individual capacity be personally liable for the payment of any
indebtedness or expenses or be personally liable for the breach or failure of any obligation, representation, warranty or covenant
made or undertaken under this Confirmation, and (iii) each of the representations, undertakings and agreements herein made on behalf
of the Counterparty is made and intended not as personal representations, undertakings and agreements of the Counterparty.
Please confirm that the foregoing correctly sets forth the terms of our agreement by executing a copy of this Confirmation and
returning it to us or by sending to us a letter, telex or facsimile substantially similar to this letter, which letter, telex or
facsimile sets forth the material terms of the Transaction to which this Confirmation relates and indicates agreement to those terms.
When referring to this Confirmation, please indicate: JPMorgan Deal Number(s): 6900025873663
JPMorgan Chase Bank, N.A.
[GRAPHIC OMITTED][GRAPHIC OMITTED]STARTSIGNATURE:U284298
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Name: Xxxxxx X. Xxxxxxxx Xx.
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Title: Associate
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Accepted and confirmed as of the date first
written:
U.S. Bank National Association, not in its
individual capacity but solely as Trustee for the
benefit of RASC Series 2006-KS6 Trust, Home Equity
Mortgage Asset-Backed Pass-Through Certificates,
Series 2006-KS6
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Name:
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Title:
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Your reference number:
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Exhibit A
Period Period Start Period End Swap Balance
1 07/28/06 08/25/06 529,098,000.00
2 08/25/06 09/25/06 525,551,633.70
3 09/25/06 09/26/06 520,186,641.33
4 09/26/06 09/27/06 512,965,564.63
5 09/27/06 09/28/06 503,913,285.19
6 09/28/06 09/29/06 493,038,485.69
7 09/29/06 09/30/06 480,367,517.80
8 09/30/06 10/01/06 465,945,917.04
9 10/01/06 10/02/06 449,849,788.06
10 10/02/06 10/03/06 432,166,119.22
11 10/03/06 10/04/06 413,455,239.96
12 10/04/06 10/05/06 393,840,726.16
13 10/05/06 10/06/06 375,128,520.34
14 10/06/06 10/07/06 357,284,033.11
15 10/07/06 10/08/06 340,266,483.12
16 10/08/06 10/09/06 324,037,005.73
17 10/09/06 10/10/06 308,558,598.89
18 10/10/06 10/11/06 293,799,201.35
19 10/11/06 10/12/06 279,721,523.69
20 10/12/06 10/13/06 266,293,661.76
21 10/13/06 10/14/06 253,485,225.17
22 10/14/06 10/15/06 241,047,924.40
23 10/15/06 10/16/06 218,200,591.43
24 10/16/06 10/17/06 197,667,418.85
25 10/17/06 10/18/06 179,227,702.64
26 10/18/06 10/19/06 162,631,772.85
27 10/19/06 10/20/06 147,781,472.55
28 10/20/06 10/21/06 139,374,623.79
29 10/21/06 10/22/06 131,422,369.00
30 10/22/06 10/23/06 123,899,143.75
31 10/23/06 10/24/06 116,780,871.90
32 10/24/06 10/25/06 110,044,929.76
33 10/25/06 10/26/06 103,669,829.73
34 10/26/06 10/27/06 97,635,414.17
35 10/27/06 10/28/06 97,635,414.17
36 10/28/06 10/29/06 96,543,746.68
37 10/29/06 10/30/06 91,723,890.82
38 10/30/06 10/31/06 87,159,033.37
39 10/31/06 11/01/06 82,836,175.68
40 11/01/06 11/02/06 78,740,758.82
41 11/02/06 11/03/06 74,860,244.11
42 11/03/06 11/04/06 71,182,807.44
43 11/04/06 11/05/06 67,697,297.71
44 11/05/06 11/06/06 64,393,197.63
45 11/06/06 11/07/06 61,260,586.86
46 11/07/06 11/08/06 58,290,107.36
47 11/08/06 11/09/06 55,472,930.68
48 11/09/06 11/10/06 52,800,727.32
Client Service Group
All queries regarding confirmations should be sent to:
JPMorgan Chase Bank, N.A.
Contacts
JPMorgan Contact Telephone Number
Client Service Group (000 ) 0000000000
Group E-mail address:
Facsimile: (000 ) 0000000000
Telex:
Cable:
Please quote the JPMorgan deal number(s): 6900025873663
