Interest Rate Cap Agreement Confirmation between Credit Suisse International and U.S. Bank National Association (as Trustee for Adjustable Rate Mortgage Trust 2006-1)

 CREDIT SUISSE INTERNATIONAL One Cabot Square, Telephone 020 7888 8888 London E14 4QJ www.credit-suisse.com CREDIT SUISSE FIRST BOSTON INTERNATIONAL One Cabot Square, Telephone 020 7888 8888 London E14 4QJ www.csfb.com CREDIT SUISSE FIRST BOSTON INTERNATIONAL One Cabot Square, Telephone 020 7888 8888 London E14 4QJ www.csfb.com Facsimile Cover Sheet To: U.S. Bank National Association, not in its individual capacity but solely as Trustee on behalf of Adjustable Rate Mortgage Trust 2006-1 under the Pooling and Servicing Agreement Attention: Heakyung Chung, CSIN Marketer Fax number: To be hand delivered by Heakyung Chung Date: 28 February 2006 Pages (including cover page): 8 Our Reference No: External ID: 53106414N3 / Risk ID: 447406255 Credit Suisse International has entered into a transaction with you as attached. Please find attached a letter agreement (the "Confirmation") which confirms the terms and conditions of the above transaction. If you agree with the terms specified therein, please arrange for the Confirmation to be signed by your authorised signatories and return a signed copy to this office to the facsimile listed below. For Interest Rate Products: For Equity Derivatives: Telephone Numbers: (212) 538-9370 Telephone numbers: (212) 538-4437 / Facsimile number: (917) 326-8603 ###-###-#### / (212) 325-5119 Email: Facsimile number: (212) 325-8173 ***@*** For Credit Derivatives: Telephone Numbers: (212) 538-9370 Facsimile number: (917) 326-8603 Email:  ***@*** We are delighted to have entered into this transaction with you. CONFIDENTIALITY NOTICE: This facsimile is intended only for the use of the individual or entity to which it is addressed and may contain information which is privileged and confidential. If the reader of this message is not the intended recipient or an employee or agent responsible for delivering the message to the intended recipient, you are hereby notified that any dissemination, distribution or copying of this communication is strictly prohibited. If you have received this communication in error, please notify us immediately by telephone and return the original message to us by mail. Thank you. Registered Office as above Registered with unlimited liability in England under No. 2500199 Authorised and Regulated by the Financial Services Authority VAT No: GB ###-###-#### 41 CREDIT SUISSE INTERNATIONAL One Cabot Square, Telephone 020 7888 8888 London E14 4QJ www.credit-suisse.com CREDIT SUISSE FIRST BOSTON INTERNATIONAL One Cabot Square, Telephone 020 7888 8888 London E14 4QJ www.csfb.com CREDIT SUISSE FIRST BOSTON INTERNATIONAL One Cabot Square, Telephone 020 7888 8888 London E14 4QJ www.csfb.com 28 February 2006 U.S. Bank National Association Attention: ARMT 2006-1 60 Livingston Avenue EP-MN-WS3D St. Paul, MN 55107 With a copy to: Wells Fargo Bank, NA 9062 Old Annapolis Road Columbia, Maryland 21045 Attn: Diane TenHoopen Fax: 410 ###-###-#### External ID: 53106414N3 ______________________________________________________________________________ Dear Sirs, The purpose of this letter agreement (this "Confirmation") is to confirm the terms and conditions of the Swap Transaction entered into between us on the Trade Date specified below (the "Swap Transaction"). This Confirmation constitutes a "Confirmation" as referred to in the Agreement specified below. In this Confirmation "CSIN" means Credit Suisse International and "Counterparty" means U.S. Bank National Association, not in its individual capacity but solely as Trustee on behalf of Adjustable Rate Mortgage Trust 2006-1 under the Pooling and Servicing Agreement. 1. The definitions and provisions contained in the 2000 ISDA 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. References herein to a "transaction" shall be deemed to be references to a "Swap Transaction" for the purposes of the 2000 ISDA Definitions. This Confirmation supplements, forms part of, and is subject to, the Interest Rate and Currency Exchange Agreement dated as of 28 February 2006 as amended and supplemented from time to time (the "Agreement"), between you and us. All provisions contained in the Agreement govern this Confirmation except as expressly modified below. CSIN and Counterparty each represents to the other that it has entered into this Swap 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. 2. The terms of the particular Swap Transaction to which this Confirmation relates are as follows: Transaction Type: Rate Cap Transaction Notional Amount: USD 279,471,000 subject to amortization as set out in the Additional Terms Trade Date: 14 February 2006 Effective Date: 28 February 2006 Termination Date: 25 December 2010, subject to adjustment in accordance with the Modified Following Business Day Convention Fixed Amounts: Fixed Rate Payer: Counterparty Fixed Rate Payer Payment Date: 28 February 2006, subject to adjustment in accordance with the Following Business Day Convention Fixed Amount: USD 335,000 Floating Amounts: Floating Amount Payer: CSIN Floating Rate Period End Dates: The 25th of each month, commencing on 25 March 2006, and ending on the Termination Date, inclusive, subject to adjustment in accordance with the Following Business Day Convention. Floating Rate Payment Dates: One Business Day prior to each Floating Rate Period End Date Cap Rate: See Additional Terms Floating Rate Option: USD-LIBOR-BBA, subject to a maximum rate Maximum Floating Rate: See Additional Terms Designated Maturity: 1 month Spread: None Floating Rate Day Count Fraction: Actual/360 Reset Dates: The 25th day of each Calculation Period, commencing on 28 February 2006, and ending on the Termination Date Compounding: Inapplicable Business Days: New York Calculation Agent: CSIN Account Details: Payments to CSIN: As advised separately in writing Payments to Counterparty: Wells Fargo Bank, N.A. San Francisco, CA ABA: 121-000-248 Account Number: 3970771416 Account Name: Corporate Trust Clearing FFC: 50894602, ARMT 2006-1 Group 6 Interest Rate Cap Account For the purpose of facilitating this Transaction, an Affiliate of CSIN, which is organized in the United States of America (the "Agent"), has acted as agent for CSIN. The Agent is not a principal with respect to this Transaction and shall have no responsibility or liability to the parties as a principal with respect to this Transaction. Credit Suisse International is authorized and regulated by the Financial Services Authority and has entered into this transaction as principal. The time at which the above transaction was executed will be notified to Counterparty on request. ADDITIONAL TERMS - -------------------------------------------------------------------------- Notional Amount: Payment Date scheduled to (USD) Maximum occur in: Cap Rate: Floating Rate: - -------------------------------------------------------------------------- March-2006 279,471,000.00 8.055% 9.759% - -------------------------------------------------------------------------- April-2006 271,932,970.32 6.452% 9.758% - -------------------------------------------------------------------------- May-2006 266,876,998.63 6.674% 9.757% - -------------------------------------------------------------------------- June-2006 257,810,791.44 6.460% 9.755% - -------------------------------------------------------------------------- July-2006 253,015,552.67 6.682% 9.754% - -------------------------------------------------------------------------- August-2006 248,308,930.74 6.458% 9.753% - -------------------------------------------------------------------------- September-2006 243,689,287.85 6.457% 9.752% - -------------------------------------------------------------------------- October-2006 239,155,016.42 6.679% 9.751% - -------------------------------------------------------------------------- November-2006 234,704,538.56 6.455% 9.750% - -------------------------------------------------------------------------- December-2006 230,336,305.47 6.677% 9.749% - -------------------------------------------------------------------------- January-2007 226,048,796.98 6.452% 9.747% - -------------------------------------------------------------------------- February-2007 221,840,520.95 6.451% 9.746% - -------------------------------------------------------------------------- March-2007 217,710,012.78 7.168% 9.745% - -------------------------------------------------------------------------- April-2007 213,639,590.51 6.449% 9.744% - -------------------------------------------------------------------------- May-2007 209,660,238.15 6.671% 9.743% - -------------------------------------------------------------------------- June-2007 205,754,419.58 6.446% 9.741% - -------------------------------------------------------------------------- July-2007 201,920,775.36 6.668% 9.740% - -------------------------------------------------------------------------- - -------------------------------------------------------------------------- August-2007 198,157,971.18 6.444% 9.739% - -------------------------------------------------------------------------- - -------------------------------------------------------------------------- September-2007 194,209,857.16 6.443% 9.737% - -------------------------------------------------------------------------- October-2007 161,297,589.87 6.827% 9.723% - -------------------------------------------------------------------------- - -------------------------------------------------------------------------- November-2007 158,063,079.19 6.597% 9.721% - -------------------------------------------------------------------------- - -------------------------------------------------------------------------- December-2007 123,870,053.26 6.934% 9.697% - -------------------------------------------------------------------------- - -------------------------------------------------------------------------- January-2008 112,590,138.24 6.762% 9.686% - -------------------------------------------------------------------------- - -------------------------------------------------------------------------- February-2008 110,483,681.07 6.760% 9.684% - -------------------------------------------------------------------------- - -------------------------------------------------------------------------- March-2008 108,416,077.75 7.245% 9.681% - -------------------------------------------------------------------------- - -------------------------------------------------------------------------- April-2008 106,364,977.82 6.755% 9.679% - -------------------------------------------------------------------------- - -------------------------------------------------------------------------- May-2008 104,372,808.16 6.989% 9.677% - -------------------------------------------------------------------------- - -------------------------------------------------------------------------- June-2008 102,411,484.64 6.750% 9.674% - -------------------------------------------------------------------------- - -------------------------------------------------------------------------- July-2008 100,492,073.81 6.984% 9.672% - -------------------------------------------------------------------------- - -------------------------------------------------------------------------- August-2008 98,600,698.41 6.745% 9.669% - -------------------------------------------------------------------------- - -------------------------------------------------------------------------- September-2008 96,751,369.14 6.742% 9.666% - -------------------------------------------------------------------------- - -------------------------------------------------------------------------- October-2008 94,031,269.13 6.976% 9.662% - -------------------------------------------------------------------------- - -------------------------------------------------------------------------- November-2008 90,819,264.39 6.734% 9.657% - -------------------------------------------------------------------------- - -------------------------------------------------------------------------- December-2008 78,220,138.71 6.980% 9.633% - -------------------------------------------------------------------------- - -------------------------------------------------------------------------- January-2009 71,655,489.15 6.740% 9.617% - -------------------------------------------------------------------------- - -------------------------------------------------------------------------- February-2009 70,305,253.45 6.737% 9.614% - -------------------------------------------------------------------------- - -------------------------------------------------------------------------- March-2009 68,979,862.06 7.496% 9.610% - -------------------------------------------------------------------------- - -------------------------------------------------------------------------- April-2009 67,648,528.89 6.763% 9.640% - -------------------------------------------------------------------------- - -------------------------------------------------------------------------- May-2009 66,371,269.29 7.022% 9.662% - -------------------------------------------------------------------------- - -------------------------------------------------------------------------- June-2009 65,112,033.67 6.800% 9.677% - -------------------------------------------------------------------------- - -------------------------------------------------------------------------- July-2009 63,881,284.05 7.043% 9.683% - -------------------------------------------------------------------------- - -------------------------------------------------------------------------- August-2009 62,668,420.01 6.813% 9.690% - -------------------------------------------------------------------------- - -------------------------------------------------------------------------- September-2009 61,482,477.11 6.818% 9.695% - -------------------------------------------------------------------------- - -------------------------------------------------------------------------- October-2009 60,318,331.30 7.058% 9.698% - -------------------------------------------------------------------------- - -------------------------------------------------------------------------- November-2009 59,171,538.17 6.825% 9.702% - -------------------------------------------------------------------------- - -------------------------------------------------------------------------- December-2009 58,049,758.39 7.065% 9.705% - -------------------------------------------------------------------------- - -------------------------------------------------------------------------- January-2010 56,944,672.57 6.832% 9.709% - -------------------------------------------------------------------------- - -------------------------------------------------------------------------- February-2010 55,863,703.75 6.835% 9.712% - -------------------------------------------------------------------------- - -------------------------------------------------------------------------- March-2010 54,802,586.79 7.602% 9.716% - -------------------------------------------------------------------------- - -------------------------------------------------------------------------- April-2010 53,736,278.58 6.843% 9.720% - -------------------------------------------------------------------------- - -------------------------------------------------------------------------- May-2010 52,713,617.58 7.083% 9.723% - -------------------------------------------------------------------------- - -------------------------------------------------------------------------- June-2010 51,704,970.16 6.847% 9.724% - -------------------------------------------------------------------------- - -------------------------------------------------------------------------- July-2010 50,719,468.14 7.085% 9.725% - -------------------------------------------------------------------------- - -------------------------------------------------------------------------- August-2010 49,708,627.05 6.848% 9.726% - -------------------------------------------------------------------------- - -------------------------------------------------------------------------- September-2010 48,711,304.62 6.849% 9.727% - -------------------------------------------------------------------------- - -------------------------------------------------------------------------- October-2010 47,626,810.18 7.090% 9.728% - -------------------------------------------------------------------------- - -------------------------------------------------------------------------- November-2010 46,555,666.73 6.854% 9.729% - -------------------------------------------------------------------------- - -------------------------------------------------------------------------- December-2010 45,072,312.76 7.095% 9.730% - -------------------------------------------------------------------------- Please confirm that the foregoing correctly sets forth the terms of our agreement by executing the copy of this Confirmation enclosed for that purpose and returning it to us. Yours faithfully, Credit Suisse International By:_____________________________ Name: Title: Confirmed as of the date first written above: U.S. Bank National Association, not in its individual capacity, but solely as Trustee on behalf of Adjustable Rate Mortgage Trust 2006-1 under the Pooling and Servicing Agreement By:________________________________ Name: Title: Our Reference No: External ID: 53106414N3 / Risk ID: 447406255