MANAGEMENT’S
ASSERTION OF COMPLIANCE



Management
of the Agency and Trust division of Citibank, N.A. (or “Company”) is responsible
for assessing compliance with the servicing criteria set forth in Item 1122(d)
of Regulation AB promulgated by the Securities and Exchange Commission.



Management
has determined that the servicing criteria set forth in Item 1122(d) of
Regulation AB are applicable in regard to the servicing platform as of and for
the period as follows:



Platform:
Publicly-issued (i.e., transaction-level reporting initially required
under the Securities Exchange Act of 1934, as amended) and certain
privately-issued (i.e., for which transaction-level reporting is required
pursuant to contractual obligation) commercial mortgage-backed securities issued
 on or after January 1, 2011,as listed in Appendix A, for which the Company
provides the following servicing functions (the “Platform”):



| | · | paying agent, certificate
      administration and trustee; or
| | - | --------------------------------------------------------------
| | · | certificate administration and paying
      agent             



Applicable
Servicing Criteria: All servicing criteria set forth in Item 1122(d), to the
extent required by Item 1122(d) servicing criteria in regards to the activities
performed by the Company with respect to the Platform as to any transaction,
except for the following servicing criteria: 1122(d)(1)(iii),
 1122(d)(4)(i)-1122(d)(4)(ii) and 1122(d)(4)(iv)-1122(d)(4)(xv), which
management has determined are not applicable to the activities the Company
performs with respect to the Platform (the “Applicable Servicing Criteria”).
Servicing criterion 1122(d)(1)(v) is applicable only to the activities the
Company performs related to the mathematically accurate aggregation of
information received from servicers and the accurate conveyance of such
information within reports to investors. Servicing criterion 1122(d)(4)(iii) is
applicable to the activities the Company performs with respect to the Platform
only as it relates to the Company’s obligation to report additions, removals or
substitutions on reports to investors in accordance with the transaction
agreements. With respect to servicing criteria 1122(d)(2)(iii) and
1122(d)(4)(iii), there were no activities performed during the twelve months
ended December 31, 2017 with respect to the Platform, because there were no
occurrences of events that would require the Company to perform such
 activities.



Period:
Twelve months ended December 31, 2017 (the “Period”).



With
respect to the Platform as of and for the Period, the Company’s management
provides the following assertion of compliance with respect to the Applicable
Servicing Criteria:



| | · | The Company’s management is responsible
      for assessing the Company’s compliance with the Applicable Servicing
      Criteria.                                                                                                                                        
| | - | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |   |                                                                                                                                                                                                                                                                           
| | · | The Company’s management has assessed
      compliance with the Applicable Servicing Criteria. In making this
      assessment, management used the criteria set forth by the Securities and
      Exchange Commission in paragraph (d) of Item 1122 of Regulation
    AB.
| |   |                                                                                                                                                                                                                                                                           
| | · | Based on such assessment, the Company
      has complied, in all material respects, with the Applicable Servicing
      Criteria.                                                                                                                                         



KPMG
LLP, an independent registered public accounting firm, has issued an attestation
report with respect to management’s assertion of compliance with the Applicable
Servicing Criteria as of and for the Period.



| |  | CITIBANK,
  N.A.
| |  | ----------------











|                         | By   | /s/Karen Montbach      
|------------------------ | ---- | -----------------------
|                         |      |                        
|                         | Its: | Managing
      Director
|                         |      |                        
|Dated: February 28, 2018 |      |                        













Appendix
 A



Mortgage-backed
 Transactions and Securities Constituting the Platform



DEAL
NAME

225
LIBERTY STREET TRUST 2016-225L

CGCMT
2015-GC29

CGBAM
2015-SMRT

CCMT
2013-375P

CCMT
2012-GC8

CCMT
2013-GCJ11

CCMT
2013-GC15

CCMT
2013-GC17

CCMT
2014-GC23

CCMT
2014-GC25

CCMT
2015-GC27

CCMT
2015-GC31

CCMT
2015-GC33

CCMT
2015-GC35

CCMT
2016-GC37

CCMT
2015-P1

CCMT
2016-P3

CCMT
2016-P4

CCMT
2016-P5

CCMT
2016-P6

CCMT
2016-C1

CCMT
2016-C2

CCMT
2016-C3

CFCRE
2011-C2

GSMC
2011-GC3

GSMST
2011-GC5

MSBAM
2014-C17

CGCMT
2017-P7

CGCMT
2017-B1

CGCMT
2017-P8

CD
2017-CD5 Mortgage Trust

CGCMT
2017-C4