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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">UNITED
      STATES</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SECURITIES
      AND EXCHANGE COMMISSION</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Washington,
      D.C. 20549</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">FORM
      8-K</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CURRENT
      REPORT</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">PURSUANT
      TO SECTION 13 OR 15(d) OF THE</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SECURITIES
      EXCHANGE ACT OF 1934</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date
      of
      Report (Date of earliest event reported)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">May
      31,
      2006</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">STRUCTURED
      ASSET SECURITIES CORPORATION (as Depositor under the Trust Agreement, dated
      as
      of May 1, 2006, providing for the issuance of Structured Adjustable Rate
      Mortgage Loan Trust, Series 2006-5)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;Structured
      Adjustable Rate Mortgage Loan Trust, Series
      2006-5&#160;&#160;&#160;&#160;</u></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Issuing
      Entity)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Structured
      Asset Securities
      Corporation&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</u></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Exact
      Name of Depositor as Specified in its Charter)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Lehman
      Brothers Holdings Inc.&#160;
&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</u></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Exact
      Name of Sponsor as Specified in its Charter)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Structured
      Asset Securities
      Corporation&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</u></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Exact
      Name of Registrant as Specified in its Charter)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Delaware</u></font></div>
            </td>
            <td valign="top" width="27%" style="border-bottom: medium none;">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>333-129480</u></font></div>
            </td>
            <td valign="top" width="27%" style="border-bottom: medium none;">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>74-2440850</u></font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="27%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(State
                or Other Jurisdiction </font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Of
                Incorporation)</font></div>
            </td>
            <td valign="top" width="27%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Commission</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">File
                Number)</font></div>
            </td>
            <td valign="top" width="27%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(I.R.S.
                Employer </font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Identification
                No.)</font></div>
            </td>
          </tr>

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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">745
                Seventh Avenue, 7</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><sup>th</sup></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
                Floor</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>New
                York, NY</u></font></div>
            </td>
            <td valign="top" width="27%" style="border-bottom: medium none;">&#160;</td>
            <td valign="top" width="26%" style="border-bottom: medium none;">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>10019</u></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="26%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Address
                of Principal <br>Executive Offices)</font></div>
            </td>
            <td valign="top" width="27%">&#160;</td>
            <td valign="top" width="26%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Zip
                Code)</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Registrant&#8217;s
      telephone number, including area code: (212) 526-7000</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
      No
      Change&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</u></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Former
      Name or Former Address, if Changed Since Last Report)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Check
      the
      appropriate box below if the Form 8-K filing is intended to simultaneously
      satisfy the filing obligation of the registrant under any of the following
      provisions:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-FAMILY: Wingdings">o</font>
      Written communications
      pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="FONT-FAMILY: Wingdings">o</font>
      Soliciting material pursuant to Rule
      14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="FONT-FAMILY: Wingdings">o</font>
      Pre-commencement communications pursuant
      to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="FONT-FAMILY: Wingdings">o</font>
      Pre-commencement communications pursuant
      to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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      <div id="FTR">
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    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ITEM
      8.01.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Other
      Events</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Registrant registered issuances of Structured Adjustable Rate Mortgage Loan
      Trust Mortgage Pass-Through Certificates on a delayed or continuous basis
      pursuant to Rule 415 under the Securities Act of 1933, as amended (the &#8220;Act&#8221;),
      by a Registration Statement on Form S-3 (Registration File No. 333-129480 (the
      &#8220;Registration Statement&#8221;)). Pursuant to the Registration Statement, the
      Registrant issued $1,016,740,100.00 in aggregate principal amount </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Class
      1-A1, Class 1-A2, Class 2-A1, Class 2-A2, Class 2-A3, Class 2-AX, Class 3-A,
      Class 4-A1, Class 4-A2, Class 5-A1, Class 5-A2, Class 5-A3, Class 5-A4, Class
      B1-I, Class B2-I, Class B3-I, Class B4-I, Class B1-II, Class B2-II, Class B3-II,
      Class B4-II</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,
      Class
      B5-II, Class B6-II </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">and
      Class
      R Certificates of its Structured Adjustable Rate Mortgage Loan Trust Mortgage
      Pass-Through Certificates, Series 2006-5 on May 31, 2006. This Current Report
      on
      Form 8-K is being filed to satisfy an undertaking, contained in the definitive
      Prospectus, dated April 3, 2006, as supplemented by the Prospectus Supplement,
      dated May 30, 2006 (the &#8220;Prospectus Supplement&#8221;), to file a copy of the Trust
      Agreement (as defined below) executed in connection with the issuance of the
      Certificates, a form of which was filed as an exhibit to the Registration
      Statement.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Certificates (as defined below) were issued pursuant to a Trust Agreement (the
      &#8220;Trust Agreement&#8221;), attached hereto as Exhibit 4.1, dated as of May 1, 2006,
      among Structured Asset Securities Corporation, as depositor (the &#8220;Depositor&#8221;),
      Aurora Loan Services LLC, as master servicer (the &#8220;Master Servicer&#8221;), Wells
      Fargo Bank, National Association, as securities administrator (the &#8220;Securities
      Administrator&#8221;), and U.S. Bank National Association, as trustee (the &#8220;Trustee&#8221;).
      The &#8220;Certificates&#8221; consist of the following classes: </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Class
      1-A1, Class 1-A2, Class 2-A1, Class 2-A2, Class 2-A3, Class 2-AX, Class 3-A,
      Class 4-A1, Class 4-A2, Class 5-A1, Class 5-A2, Class 5-A3, Class 5-A4, Class
      B1-I, Class B2-I, Class B3-I, Class B4-I, Class B5-I, Class B6-I, Class B7-I,
      Class B1-II, Class B2-II, Class B3-II, Class B4-II, Class B5-II, Class B6-II
      ,
      Class B7-II, Class B8-II, Class B9-II, Class P-I, Class P-II </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">and
      Class
      R Certificates. The Certificates evidence all the beneficial ownership interest
      in a trust fund (the &#8220;Trust Fund&#8221;) that consists primarily of four pools of
      certain adjustable rate, conventional, first lien residential mortgage loans
      (the &#8220;Mortgage Loans&#8221;) with an aggregate outstanding principal balance of
      approximately $1,026,532,398.44 as of May 1, 2006. Capitalized terms used herein
      and not otherwise defined shall have the meanings assigned to them in the Trust
      Agreement.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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        </div>
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        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">2</font></div>
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          <tr>
            <td align="left" colspan="2" valign="top" width="80%" style="border-bottom: medium none;">
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                9.01.&#160;&#160; </font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 45pt">&#160;</font><u><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Financial
                Statements; </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>Pro
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                Information and Exhibits.</font></u></div>
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    <div>&#160;</div>
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          <tr>
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            <td align="left" valign="top" width="50%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="top" width="22%">
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                applicable.</font></div>
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          <tr>
            <td align="left" valign="top" width="22%">&#160;</td>
            <td align="left" valign="top" width="50%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="top" width="22%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 54pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)&#160;&#160;&#160;&#160;
                </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Not
                applicable.</font></div>
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            <td align="left" valign="top" width="50%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="top" width="22%">&#160;</td>
            <td align="left" valign="top" width="50%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="top" width="22%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 54pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)&#160;&#160;&#160;
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            <td align="left" valign="top" width="50%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="top" width="22%">&#160;</td>
            <td align="left" valign="top" width="50%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="top" width="22%">
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                Agreement, dated April 26, 2006, between Structured Asset Securities
                Corporation, as Depositor, and Lehman Brothers Inc., as the
                Underwriter.</font></div>
            </td>
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          <tr>
            <td align="left" valign="top" width="22%">&#160;</td>
            <td align="left" valign="top" width="50%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="top" width="22%">
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                Agreement, dated as of May 1, 2006, among Structured Asset Securities
                Corporation, as Depositor, Aurora Loan Services LLC, as Master Servicer,
                Wells Fargo Bank, N.A., as Securities Administrator, and U.S. Bank
                National Association, as Trustee.</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="22%">&#160;</td>
            <td align="left" valign="top" width="50%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="top" width="22%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 81pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">99.1</font></div>
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            <td align="left" valign="top" width="50%">
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                Loan Sale and Assignment Agreement, dated as of May 1, 2006, between
                Lehman Brothers Holdings Inc., as Seller, and Structured Asset Securities
                Corporation, as Purchaser.</font></div>
            </td>
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          <tr>
            <td align="left" valign="top" width="22%">&#160;</td>
            <td align="left" valign="top" width="50%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="top" width="22%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 81pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">99.2</font></div>
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            <td align="left" valign="top" width="50%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Servicing
                Agreement, dated as of May 1, 2006, between Lehman Brothers Holdings
                Inc.
                and Aurora Loan Services LLC.</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="22%">&#160;</td>
            <td align="left" valign="top" width="50%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="top" width="22%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 81pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">99.3</font></div>
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            <td align="left" valign="top" width="50%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Reconstituted
                Servicing Agreement, dated as of May 1, 2006, between Countrywide
                Home
                Loans, Inc. and Lehman Brothers Holdings Inc.</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="22%">&#160;</td>
            <td align="left" valign="top" width="50%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="top" width="22%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 81pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">99.4</font></div>
            </td>
            <td align="left" valign="top" width="50%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Flow
                Seller&#8217;s Warranties and Servicing Agreement, dated as of June 1, 2004, and
                Amendment Reg AB, dated January 31, 2006, by and between Lehman Brothers
                Bank, FSB and Countrywide Home Loans, Inc.</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="22%">&#160;</td>
            <td align="left" valign="top" width="50%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="top" width="22%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 81pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">99.5</font></div>
            </td>
            <td align="left" valign="top" width="50%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Reconstituted
                Servicing Agreement, dated as of May 1, 2006, between Wells Fargo
                Bank,
                N.A. and Lehman Brothers Holdings Inc.</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="22%">&#160;</td>
            <td align="left" valign="top" width="50%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="top" width="22%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 81pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">99.6</font></div>
            </td>
            <td align="left" valign="top" width="50%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Seller&#8217;s
                Warranties and Servicing Agreement, dated as of May 1, 2006, by and
                between Lehman Brothers Bank, FSB and Wells Fargo Bank,
                N.A.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">3</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
        <div style="WIDTH: 100%" align="left">
        </div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>SIGNATURES</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
      to the requirements of the Securities Exchange Act of 1934, the Registrant
      has
      duly caused this report to be signed on its behalf by the undersigned hereunto
      duly authorized.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">
      <table align="center" bgcolor="#ffffff" border="0" cellpadding="0" cellspacing="0" width="100%">

          <tr valign="top" bgcolor="#ffffff">
            <td width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;</font></td>
            <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;</font></td>
            <td width="49%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;</font></td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;</font></td>
            <td colspan="2">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">STRUCTURED
                ASSET SECURITIES CORPORATION</font></div>
            </td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;<br>&#160;</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;<br>&#160;</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;<br>&#160;</font></td>
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          <tr valign="top" bgcolor="#ffffff">
            <td>&#160;</td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">By:&#160;&#160;</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">/s/
              Michael C. Hitzmann</font></td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td colspan="2"><font style="FONT-FAMILY: " size="1">&#160;</font></td>
            <td align="left">
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                Vice President</font></div>
            </td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td colspan="2">
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                June 14, 2006</font>&#160;</div>
            </td>
            <td>&#160;</td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div style="WIDTH: 100%" align="left">
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
        </div>
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
        <div style="WIDTH: 100%" align="left">
        </div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>EXHIBIT
      INDEX</strong></font></div>
    <div>&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" colspan="2" valign="top" width="30%" style="border-bottom: black thin solid;">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Exhibit
                No.</font></div>
            </td>
            <td width="2%" style="border-bottom: #ffffff solid;">&#160;</td>
            <td align="left" colspan="3" valign="top" width="50%" style="border-bottom: black thin solid;">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Description</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" colspan="2" valign="top" width="30%">&#160;</td>
            <td width="2%">&#160;</td>
            <td align="left" colspan="3" valign="top" width="50%">&#160;</td>
          </tr>
          <tr>
            <td align="left" colspan="2" valign="top" width="30%">
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            <td width="2%">&#160;</td>
            <td align="left" colspan="3" valign="top" width="50%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Terms
                Agreement, dated April 26, 2006, between Structured Asset Securities
                Corporation, as Depositor, and Lehman Brothers Inc., as the
                Underwriter.</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" colspan="2" valign="top" width="30%">&#160;</td>
            <td width="2%">&#160;</td>
            <td align="left" colspan="3" valign="top" width="50%">&#160;</td>
          </tr>
          <tr>
            <td align="left" colspan="2" valign="top" width="30%">
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                Agreement, dated as of May 1, 2006, among Structured Asset Securities
                Corporation, as Depositor, Aurora Loan Services LLC, as Master Servicer,
                Wells Fargo Bank, N.A., as Securities Administrator, and U.S. Bank
                National Association, as Trustee.</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" colspan="2" valign="top" width="30%">&#160;</td>
            <td width="2%">&#160;</td>
            <td align="left" colspan="3" valign="top" width="50%">&#160;</td>
          </tr>
          <tr>
            <td align="left" colspan="2" valign="top" width="30%">
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            </td>
            <td width="2%">&#160;</td>
            <td align="left" colspan="3" valign="top" width="50%">
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                Lehman Brothers Holdings Inc., as Seller, and Structured Asset Securities
                Corporation, as Purchaser.</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" colspan="2" valign="top" width="30%">&#160;</td>
            <td width="2%">&#160;</td>
            <td align="left" colspan="3" valign="top" width="50%">&#160;</td>
          </tr>
          <tr>
            <td align="left" colspan="2" valign="top" width="30%">
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            </td>
            <td width="2%">&#160;</td>
            <td align="left" colspan="3" valign="top" width="50%">
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                Agreement, dated as of May 1, 2006, between Lehman Brothers Holdings
                Inc.
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            </td>
          </tr>
          <tr>
            <td align="left" colspan="2" valign="top" width="30%">&#160;</td>
            <td width="2%">&#160;</td>
            <td align="left" colspan="3" valign="top" width="50%">&#160;</td>
          </tr>
          <tr>
            <td align="left" colspan="2" valign="top" width="30%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 81pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">99.3</font></div>
            </td>
            <td width="2%">&#160;</td>
            <td align="left" colspan="3" valign="top" width="50%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Reconstituted
                Servicing Agreement, dated as of May 1, 2006, between Countrywide
                Home
                Loans, Inc. and Lehman Brothers Holdings Inc.</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" colspan="2" valign="top" width="30%">&#160;</td>
            <td width="2%">&#160;</td>
            <td align="left" colspan="3" valign="top" width="50%">&#160;</td>
          </tr>
          <tr>
            <td align="left" colspan="2" valign="top" width="30%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 81pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">99.4</font></div>
            </td>
            <td width="2%">&#160;</td>
            <td align="left" colspan="3" valign="top" width="50%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Flow
                Seller&#8217;s Warranties and Servicing Agreement, dated as of June 1, 2004, and
                Amendment Reg AB, dated January 31, 2006, by and between Lehman Brothers
                Bank, FSB and Countrywide Home Loans, Inc.</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" colspan="2" valign="top" width="30%">&#160;</td>
            <td width="2%">&#160;</td>
            <td align="left" colspan="3" valign="top" width="50%">&#160;</td>
          </tr>
          <tr>
            <td align="left" colspan="2" valign="top" width="30%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 81pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">99.5</font></div>
            </td>
            <td width="2%">&#160;</td>
            <td align="left" colspan="3" valign="top" width="50%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Reconstituted
                Servicing Agreement, dated as of May 1, 2006, between Wells Fargo
                Bank,
                N.A. and Lehman Brothers Holdings Inc.</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" colspan="2" valign="top" width="30%">&#160;</td>
            <td width="2%">&#160;</td>
            <td align="left" colspan="3" valign="top" width="50%">&#160;</td>
          </tr>
          <tr>
            <td align="left" colspan="2" valign="top" width="30%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 81pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">99.6</font></div>
            </td>
            <td width="2%">&#160;</td>
            <td align="left" colspan="3" valign="top" width="50%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Seller&#8217;s
                Warranties and Servicing Agreement, dated as of May 1, 2006, by and
                between Lehman Brothers Bank, FSB and Wells Fargo Bank,
                N.A.</font></div>
            </td>
          </tr>

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{"company-data": {"conformed-name": "Structured Adjustable Rate Mortgage Loan Trust Series 2006-5", "cik": "0001364751", "assigned-sic": "6189", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "333-129480-10", "film-number": "06905074"}, "business-address": {"street1": "745 7TH AVENUE", "city": "NEW YORK", "state": "NY", "zip": "10019", "phone": "2125267000"}, "mail-address": {"street1": "745 7TH AVENUE", "city": "NEW YORK", "state": "NY", "zip": "10019"}}
UNITED
      STATES
SECURITIES
      AND EXCHANGE COMMISSION
Washington,
      D.C. 20549
FORM
      8-K
CURRENT
      REPORT
PURSUANT
      TO SECTION 13 OR 15(d) OF THE
SECURITIES
      EXCHANGE ACT OF 1934
Date
      of
      Report (Date of earliest event reported)
May
      31,
      2006
STRUCTURED
      ASSET SECURITIES CORPORATION (as Depositor under the Trust Agreement, dated
      as
      of May 1, 2006, providing for the issuance of Structured Adjustable Rate
      Mortgage Loan Trust, Series 2006-5)
Structured
      Adjustable Rate Mortgage Loan Trust, Series
      2006-5
(Issuing
      Entity)
Structured
      Asset Securities
      Corporation
(Exact
      Name of Depositor as Specified in its Charter)
Lehman
      Brothers Holdings Inc.
(Exact
      Name of Sponsor as Specified in its Charter)
Structured
      Asset Securities
      Corporation
(Exact
      Name of Registrant as Specified in its Charter)
Delaware
333-129480
74-2440850
(State
                or Other Jurisdiction
Of
                Incorporation)
(Commission
File
                Number)
(I.R.S.
                Employer
Identification
                No.)
745
                Seventh Avenue, 7
th
Floor
New
                York, NY
10019
(Address
                of Principal
Executive Offices)
(Zip
                Code)
Registrant's
      telephone number, including area code: (212) 526-7000
No
      Change
(Former
      Name or Former Address, if Changed Since Last Report)
Check
      the
      appropriate box below if the Form 8-K filing is intended to simultaneously
      satisfy the filing obligation of the registrant under any of the following
      provisions:
o
Written communications
      pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule
      14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant
      to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant
      to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
ITEM
      8.01.
Other
      Events
.
The
      Registrant registered issuances of Structured Adjustable Rate Mortgage Loan
      Trust Mortgage Pass-Through Certificates on a delayed or continuous basis
      pursuant to Rule 415 under the Securities Act of 1933, as amended (the "Act"),
      by a Registration Statement on Form S-3 (Registration File No. 333-129480 (the
      "Registration Statement")). Pursuant to the Registration Statement, the
      Registrant issued $1,016,740,100.00 in aggregate principal amount
Class
      1-A1, Class 1-A2, Class 2-A1, Class 2-A2, Class 2-A3, Class 2-AX, Class 3-A,
      Class 4-A1, Class 4-A2, Class 5-A1, Class 5-A2, Class 5-A3, Class 5-A4, Class
      B1-I, Class B2-I, Class B3-I, Class B4-I, Class B1-II, Class B2-II, Class B3-II,
      Class B4-II
,
      Class
      B5-II, Class B6-II
and
      Class
      R Certificates of its Structured Adjustable Rate Mortgage Loan Trust Mortgage
      Pass-Through Certificates, Series 2006-5 on May 31, 2006. This Current Report
      on
      Form 8-K is being filed to satisfy an undertaking, contained in the definitive
      Prospectus, dated April 3, 2006, as supplemented by the Prospectus Supplement,
      dated May 30, 2006 (the "Prospectus Supplement"), to file a copy of the Trust
      Agreement (as defined below) executed in connection with the issuance of the
      Certificates, a form of which was filed as an exhibit to the Registration
      Statement.
The
      Certificates (as defined below) were issued pursuant to a Trust Agreement (the
      "Trust Agreement"), attached hereto as Exhibit 4.1, dated as of May 1, 2006,
      among Structured Asset Securities Corporation, as depositor (the "Depositor"),
      Aurora Loan Services LLC, as master servicer (the "Master Servicer"), Wells
      Fargo Bank, National Association, as securities administrator (the "Securities
      Administrator"), and U.S. Bank National Association, as trustee (the "Trustee").
      The "Certificates" consist of the following classes:
Class
      1-A1, Class 1-A2, Class 2-A1, Class 2-A2, Class 2-A3, Class 2-AX, Class 3-A,
      Class 4-A1, Class 4-A2, Class 5-A1, Class 5-A2, Class 5-A3, Class 5-A4, Class
      B1-I, Class B2-I, Class B3-I, Class B4-I, Class B5-I, Class B6-I, Class B7-I,
      Class B1-II, Class B2-II, Class B3-II, Class B4-II, Class B5-II, Class B6-II
      ,
      Class B7-II, Class B8-II, Class B9-II, Class P-I, Class P-II
and
      Class
      R Certificates. The Certificates evidence all the beneficial ownership interest
      in a trust fund (the "Trust Fund") that consists primarily of four pools of
      certain adjustable rate, conventional, first lien residential mortgage loans
      (the "Mortgage Loans") with an aggregate outstanding principal balance of
      approximately $1,026,532,398.44 as of May 1, 2006. Capitalized terms used herein
      and not otherwise defined shall have the meanings assigned to them in the Trust
      Agreement.
2
ITEM
                9.01.
Financial
                Statements;
Pro
                Forma
Information and Exhibits.
(a)
Not
                applicable.
(b)
Not
                applicable.
(c)
Exhibits:
1.1
Terms
                Agreement, dated April 26, 2006, between Structured Asset Securities
                Corporation, as Depositor, and Lehman Brothers Inc., as the
                Underwriter.
4.1
Trust
                Agreement, dated as of May 1, 2006, among Structured Asset Securities
                Corporation, as Depositor, Aurora Loan Services LLC, as Master Servicer,
                Wells Fargo Bank, N.A., as Securities Administrator, and U.S. Bank
                National Association, as Trustee.
99.1
Mortgage
                Loan Sale and Assignment Agreement, dated as of May 1, 2006, between
                Lehman Brothers Holdings Inc., as Seller, and Structured Asset Securities
                Corporation, as Purchaser.
99.2
Servicing
                Agreement, dated as of May 1, 2006, between Lehman Brothers Holdings
                Inc.
                and Aurora Loan Services LLC.
99.3
Reconstituted
                Servicing Agreement, dated as of May 1, 2006, between Countrywide
                Home
                Loans, Inc. and Lehman Brothers Holdings Inc.
99.4
Flow
                Seller's Warranties and Servicing Agreement, dated as of June 1, 2004, and
                Amendment Reg AB, dated January 31, 2006, by and between Lehman Brothers
                Bank, FSB and Countrywide Home Loans, Inc.
99.5
Reconstituted
                Servicing Agreement, dated as of May 1, 2006, between Wells Fargo
                Bank,
                N.A. and Lehman Brothers Holdings Inc.
99.6
Seller's
                Warranties and Servicing Agreement, dated as of May 1, 2006, by and
                between Lehman Brothers Bank, FSB and Wells Fargo Bank,
                N.A.
3
SIGNATURES
Pursuant
      to the requirements of the Securities Exchange Act of 1934, the Registrant
      has
      duly caused this report to be signed on its behalf by the undersigned hereunto
      duly authorized.
STRUCTURED
                ASSET SECURITIES CORPORATION
By:
/s/
              Michael C. Hitzmann
Name:
Michael
              C. Hitzmann
Title:
Senior
                Vice President
Date:
                June 14, 2006
EXHIBIT
      INDEX
Exhibit
                No.
Description
1.1
Terms
                Agreement, dated April 26, 2006, between Structured Asset Securities
                Corporation, as Depositor, and Lehman Brothers Inc., as the
                Underwriter.
4.1
Trust
                Agreement, dated as of May 1, 2006, among Structured Asset Securities
                Corporation, as Depositor, Aurora Loan Services LLC, as Master Servicer,
                Wells Fargo Bank, N.A., as Securities Administrator, and U.S. Bank
                National Association, as Trustee.
99.1
Mortgage
                Loan Sale and Assignment Agreement, dated as of May 1, 2006, between
                Lehman Brothers Holdings Inc., as Seller, and Structured Asset Securities
                Corporation, as Purchaser.
99.2
Servicing
                Agreement, dated as of May 1, 2006, between Lehman Brothers Holdings
                Inc.
                and Aurora Loan Services LLC.
99.3
Reconstituted
                Servicing Agreement, dated as of May 1, 2006, between Countrywide
                Home
                Loans, Inc. and Lehman Brothers Holdings Inc.
99.4
Flow
                Seller's Warranties and Servicing Agreement, dated as of June 1, 2004, and
                Amendment Reg AB, dated January 31, 2006, by and between Lehman Brothers
                Bank, FSB and Countrywide Home Loans, Inc.
99.5
Reconstituted
                Servicing Agreement, dated as of May 1, 2006, between Wells Fargo
                Bank,
                N.A. and Lehman Brothers Holdings Inc.
99.6
Seller's
                Warranties and Servicing Agreement, dated as of May 1, 2006, by and
                between Lehman Brothers Bank, FSB and Wells Fargo Bank,
                N.A.