Exhibit 4.1


 



 


DEUTSCHE MORTGAGE & ASSET RECEIVING CORPORATION,

Depositor,


 


WELLS FARGO BANK,
NATIONAL ASSOCIATION,

Master Servicer,


 


MIDLAND LOAN SERVICES,
A DIVISION OF PNC BANK, NATIONAL ASSOCIATION,

Special Servicer,


 


WILMINGTON TRUST,
NATIONAL ASSOCIATION,

Trustee,


 


WELLS FARGO BANK,
NATIONAL ASSOCIATION,

Certificate Administrator, Paying Agent and Custodian,


 


PARK BRIDGE LENDER
SERVICES LLC,

Operating Advisor,


 


and


 


PARK BRIDGE LENDER
SERVICES LLC,

Asset Representations Reviewer


 


 



 


POOLING AND SERVICING AGREEMENT

Dated as of April 1, 2016


 


 



 


DBJPM 2016-C1 Mortgage Trust

Commercial Mortgage Pass-Through Certificates,

Series 2016-C1


 


 



 


    	 



    	 



    
 











	 	 	 	 	 
	 	 	TABLE OF CONTENTS	 	 
	 	 	 	 	 
	 	 	 	 	Page
	 	 	 	 	 
	 	 	ARTICLE I	 	 
	 	 	 	 	 
	 	 	DEFINITIONS	 	 
	 	 	 	 	 
	Section 1.01	 	Defined Terms	 	5
	Section 1.02	 	Certain Calculations	 	125
	Section 1.03	 	Certain Constructions	 	129
	Section 1.04	 	Certain Matters Relating to the Non-Serviced Mortgage Loans	 	130
	 	 	 	 	 
	 	 	ARTICLE II	 	 
	 	 	 	 	 
	 	 	CONVEYANCE OF MORTGAGE LOANS;

ORIGINAL ISSUANCE OF CERTIFICATES	 	 
	 	 	 	 	 
	Section 2.01	 	Conveyance of Mortgage Loans; Assignment of Mortgage Loan Purchase Agreements	 	131
	Section 2.02	 	Acceptance by Custodian and the Trustee	 	141
	Section 2.03	 	Representations, Warranties and Covenants of the Depositor; Repurchase and Substitution of Mortgage Loans	 	143
	Section 2.04	 	Representations, Warranties and Covenants of the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Operating Advisor and the Asset Representations Reviewer	 	160
	Section 2.05	 	Execution and Delivery of Certificates; Issuance of Lower-Tier Regular Interests	 	168
	Section 2.06	 	Miscellaneous REMIC Provisions	 	168
	 	 	 	 	 
	 	 	ARTICLE III	 	 
	 	 	 	 	 
	 	 	ADMINISTRATION AND SERVICING

OF THE TRUST FUND	 	 
	 	 	 	 	 
	Section 3.01	 	The Master Servicer To Act as Master Servicer; Special Servicer To Act as Special Servicer; Administration of the Mortgage Loans and the Serviced Companion Loans	 	168
	Section 3.02	 	Liability of the Master Servicer and the Special Servicer When Sub- Servicing	 	174
	Section 3.03	 	Collection of Mortgage Loan and Serviced Companion Loan Payments	 	175
	Section 3.04	 	Collection of Taxes, Assessments and Similar Items; Escrow Accounts	 	175
	Section 3.05	 	Collection Accounts; Gain-on-Sale Reserve Account; Distribution Accounts; Interest Reserve Account and Serviced Whole Loan Collection Accounts	 	178


 


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	Section 3.06	 	Permitted Withdrawals from the Collection Accounts, the Serviced Whole Loan Collection Accounts and the Distribution Accounts; Trust Ledger	 	185
	Section 3.07	 	Investment of Funds in the Collection Accounts, the Serviced Whole Loan Collection Accounts, the Distribution Accounts, the Interest Reserve Account, the Gain-on-Sale Reserve Account, the REO Account, the Lock-Box Accounts, the Cash Collateral Accounts and the Reserve Accounts	 	205
	Section 3.08	 	Maintenance of Insurance Policies and Errors and Omissions and Fidelity Coverage	 	207
	Section 3.09	 	Enforcement of Due-on-Sale Clauses; Assumption Agreements; Defeasance Provisions	 	213
	Section 3.10	 	Appraisals; Realization upon Defaulted Loans	 	219
	Section 3.11	 	Custodian to Cooperate; Release of Mortgage Files	 	225
	Section 3.12	 	Servicing Fees, Certificate Administrator/Trustee Fees and Special Servicing Compensation	 	227
	Section 3.13	 	Reports to the Certificate Administrator; Collection Account Statements	 	235
	Section 3.14	 	Access to Certain Documentation	 	241
	Section 3.15	 	Title and Management of REO Properties and REO Accounts	 	250
	Section 3.16	 	Sale of Specially Serviced Loans and REO Properties	 	255
	Section 3.17	 	Additional Obligations of the Master Servicer and the Special Servicer; Inspections	 	260
	Section 3.18	 	Authenticating Agent	 	262
	Section 3.19	 	Appointment of Custodians	 	263
	Section 3.20	 	Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts and Reserve Accounts	 	263
	Section 3.21	 	Servicing Advances	 	263
	Section 3.22	 	Appointment and Replacement of Special Servicer	 	268
	Section 3.23	 	Transfer of Servicing Between the Master Servicer and the Special Servicer; Record Keeping; Asset Status Report	 	274
	Section 3.24	 	Special Instructions for the Master Servicer and/or Special Servicer	 	279
	Section 3.25	 	Certain Rights and Obligations of the Master Servicer and/or the Special Servicer	 	281
	Section 3.26	 	Modification, Waiver, Amendment and Consents	 	282
	Section 3.27	 	Certain Intercreditor Matters Relating to the Whole Loans	 	289
	Section 3.28	 	Directing Holder Contact with the Master Servicer and the Special Servicer	 	293
	Section 3.29	 	Controlling Class Certificateholders and the Controlling Class Representative; Certain Rights and Powers of the Directing Holder	 	293
	Section 3.30	 	Rating Agency Confirmation	 	298
	Section 3.31	 	Appointment and Duties of the Operating Advisor	 	301
	Section 3.32	 	Delivery of Excluded Information to the Certificate Administrator	 	306


 


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	 	 	ARTICLE IV	 	 
	 	 	 	 	 
	 	 	DISTRIBUTIONS TO CERTIFICATEHOLDERS	 	 
	 	 	 	 	 
	Section 4.01	 	Distributions	 	306
	Section 4.02	 	Statements to Certificateholders; Reports by Certificate Administrator; Other Information Available to the Holders and Others	 	316
	Section 4.03	 	Compliance with Withholding Requirements	 	329
	Section 4.04	 	REMIC Compliance	 	329
	Section 4.05	 	Imposition of Tax on the Trust Fund	 	331
	Section 4.06	 	Remittances	 	333
	Section 4.07	 	P&I Advances	 	333
	Section 4.08	 	Appraisal Reductions; Collateral Deficiency Amounts	 	339
	Section 4.09	 	Reserved	 	342
	Section 4.10	 	Secure Data Room	 	343
	 	 	 	 	 
	 	 	ARTICLE V	 	 
	 	 	 	 	 
	 	 	THE CERTIFICATES	 	 
	 	 	 	 	 
	Section 5.01	 	The Certificates	 	344
	Section 5.02	 	Registration, Transfer and Exchange of Certificates	 	348
	Section 5.03	 	Mutilated, Destroyed, Lost or Stolen Certificates	 	358
	Section 5.04	 	Appointment of Paying Agent	 	359
	Section 5.05	 	Access to Certificateholders’ Names and Addresses; Special Notices	 	359
	Section 5.06	 	Actions of Certificateholders	 	360
	Section 5.07	 	Rule 144A Information	 	361
	Section 5.08	 	Voting Procedures	 	361
	 	 	 	 	 
	 	 	ARTICLE VI	 	 
	 	 	THE DEPOSITOR, THE MASTER SERVICER, THE SPECIAL SERVICER, THE 

DIRECTING HOLDER, THE OPERATING ADVISOR AND THE ASSET 

REPRESENTATIONS REVIEWER	 	 
	 	 	 	 	 
	Section 6.01	 	Liability of the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor and the Asset Representations Reviewer	 	362
	Section 6.02	 	Merger or Consolidation of the Master Servicer, the Special Servicer, the Depositor, the Asset Representations Reviewer or the Operating Advisor	 	362
	Section 6.03	 	Limitation on Liability of the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor, the Asset Representations Reviewer and Others	 	364
	Section 6.04	 	Limitation on Resignation of the Master Servicer, the Special Servicer and the Operating Advisor; Termination of the Master Servicer, the Special Servicer and the Operating Advisor	 	366


 


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	Section 6.05	 	Rights of the Depositor and the Trustee in Respect of the Master Servicer and the Special Servicer	 	368
	Section 6.06	 	The Master Servicer or Special Servicer as Owners of a Certificate	 	369
	Section 6.07	 	The Directing Holder	 	370
	Section 6.08	 	Rights of Non-Directing Holders	 	373
	 	 	 	 	 
	 	 	ARTICLE VII	 	 
	 	 	 	 	 
	 	 	SERVICER AND OPERATING ADVISOR TERMINATION	 	 
	 	 	 	 	 
	Section 7.01	 	Servicer Termination Events	 	373
	Section 7.02	 	Trustee to Act; Appointment of Successor	 	381
	Section 7.03	 	Notification to Certificateholders and Other Persons	 	383
	Section 7.04	 	Other Remedies of Trustee	 	384
	Section 7.05	 	Waiver of Past Servicer Termination Events and Operating Advisor Termination Events; Termination	 	384
	Section 7.06	 	Trustee as Maker of Advances	 	384
	Section 7.07	 	Termination of the Operating Advisor	 	385
	 	 	 	 	 
	 	 	ARTICLE VIII	 	 
	 	 	 	 	 
	 	 	CONCERNING THE TRUSTEE AND CERTIFICATE ADMINISTRATOR	 	 
	 	 	 	 	 
	Section 8.01	 	Duties of Trustee and Certificate Administrator	 	388
	Section 8.02	 	Certain Matters Affecting the Trustee and the Certificate Administrator	 	390
	Section 8.03	 	Trustee and Certificate Administrator Not Liable for Certificates or Mortgage Loans	 	393
	Section 8.04	 	Trustee and Certificate Administrator May Own Certificates	 	395
	Section 8.05	 	Payment of Trustee’s and Certificate Administrator’s Fees and Expenses; Indemnification	 	395
	Section 8.06	 	Eligibility Requirements for Trustee and Certificate Administrator	 	398
	Section 8.07	 	Resignation and Removal of Trustee and Certificate Administrator	 	399
	Section 8.08	 	Successor Trustee and Certificate Administrator	 	401
	Section 8.09	 	Merger or Consolidation of Trustee or Certificate Administrator	 	402
	Section 8.10	 	Appointment of Co-Trustee or Separate Trustee	 	402
	 	 	 	 	 
	 	 	ARTICLE IX	 	 
	 	 	 	 	 
	 	 	TERMINATION	 	 
	 	 	 	 	 
	Section 9.01	 	Termination	 	404


 


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	 	 	ARTICLE X	 	 
	 	 	 	 	 
	 	 	EXCHANGE ACT REPORTING AND REGULATION AB COMPLIANCE	 	 
	 	 	 	 	 
	Section 10.01	 	Intent of the Parties; Reasonableness	 	409
	Section 10.02	 	Notification Requirements and Deliveries in Connection with securitization of a Serviced Companion Loan	 	410
	Section 10.03	 	Information to be Provided by the Master Servicer and the Special Servicer	 	412
	Section 10.04	 	Information to be Provided by the Trustee	 	413
	Section 10.05	 	Filing Obligations	 	413
	Section 10.06	 	Form 10-D Filings	 	415
	Section 10.07	 	Form 10-K Filings	 	418
	Section 10.08	 	Sarbanes-Oxley Certification	 	421
	Section 10.09	 	Form 8-K Filings	 	422
	Section 10.10	 	Suspension of Exchange Act Filings; Incomplete Exchange Act Filings; Amendments to Exchange Act Reports	 	424
	Section 10.11	 	Annual Compliance Statements	 	425
	Section 10.12	 	Annual Reports on Assessment of Compliance with Servicing Criteria	 	426
	Section 10.13	 	Annual Independent Public Accountants’ Servicing Report	 	428
	Section 10.14	 	Exchange Act Reporting Indemnification	 	429
	Section 10.15	 	Amendments	 	433
	Section 10.16	 	Exchange Act Report Signatures; Delivery of Notices; Interpretation of Grace Periods	 	433
	Section 10.17	 	Termination of the Certificate Administrator	 	434
	 	 	 	 	 
	 	 	ARTICLE XI	 	 
	 	 	 	 	 
	 	 	THE ASSET REPRESENTATIONS REVIEWER	 	 
	 	 	 	 	 
	Section 11.01	 	Asset Review	 	435
	Section 11.02	 	Payment of Asset
    Representations Reviewer Asset Review Fees and Expenses; Limitation of Liability	 	440
	Section 11.03	 	Resignation of the Asset Representations Reviewer	 	442
	Section 11.04	 	Restrictions of the Asset Representations Reviewer	 	442
	Section 11.05	 	Termination of the Asset Representations Reviewer	 	442
	 	 	 	 	 
	 	 	ARTICLE XII	 	 
	 	 	 	 	 
	 	 	MISCELLANEOUS PROVISIONS	 	 
	 	 	 	 	 
	Section 12.01	 	Counterparts	 	445
	Section 12.02	 	Limitation on Rights of Certificateholders	 	445
	Section 12.03	 	Governing Law	 	446
	Section 12.04	 	Waiver of Jury Trial; Consent to Jurisdiction	 	446
	Section 12.05	 	Notices	 	447


 


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	Section 12.06	 	Severability of Provisions	452
	Section 12.07	 	Notice to the Depositor and Each Rating Agency	452
	Section 12.08	 	Amendment	454
	Section 12.09	 	Confirmation of Intent	459
	Section 12.10	 	No Intended Third-Party Beneficiaries	460
	Section 12.11	 	Entire Agreement	460
	Section 12.12	 	Third Party Beneficiaries	460
	Section 12.13	 	PNC Bank, National Association	461


 



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TABLE
OF EXHIBITS


 


	Exhibit A-1	Form of Class A-1 Certificate
	Exhibit A-2	Form of Class A-2 Certificate
	Exhibit A-3	Form of Class A-SB Certificate
	Exhibit A-4	Form of Class A-3A Certificate
	Exhibit A-5	Form of Class A-3B Certificate
	Exhibit A-6	Form of Class A-4 Certificate
	Exhibit A-7	Form of Class A-M Certificate
	Exhibit A-8	Form of Class B Certificate
	Exhibit A-9	Form of Class C Certificate
	Exhibit A-10	Form of Class D Certificate
	Exhibit A-11	Form of Class E Certificate
	Exhibit A-12	Form of Class F Certificate
	Exhibit A-13	Form of Class G Certificate
	Exhibit A-14	Form of Class H Certificate
	Exhibit A-15	Form of Class X-A Certificate
	Exhibit A-16	Form of Class X-B Certificate
	Exhibit A-17	Form of Class X-C Certificate
	Exhibit A-18	Form of Class X-D Certificate
	Exhibit A-19	Form of Class X-E Certificate
	Exhibit A-20	Form of Class X-F Certificate
	Exhibit A-21	Form of Class R Certificate
	Exhibit B	Mortgage Loan Schedule
	Exhibit C-1	Form of Transferee Affidavit
	Exhibit C-2	Form of Transferor Letter
	Exhibit D-1	Form of Investment Representation Letter
	Exhibit D-2	Form of ERISA Representation Letter
	Exhibit E	Form of Request for Release
	Exhibit F	Securities Legend
	Exhibit G	Form of Regulation S Transfer Certificate
	Exhibit H	Form of Transfer Certificate for Exchange or Transfer from Rule 144A Global Certificate to Regulation S Global Certificate during the Restricted Period
	Exhibit I	Form of Transfer Certificate for Exchange or Transfer from Rule 144A Global Certificate to Regulation S Global Certificate after the Restricted Period
	Exhibit J	Form of Transfer Certificate for Exchange or Transfer from Regulation S Global Certificate to Rule 144A Global Certificate during the Restricted Period
	Exhibit K	Form of Distribution Date Statement
	Exhibit L-1A	Form of Investor Certification for Non-Borrower Party (for Persons other than the Controlling Class Representative and/or a Controlling Class Certificateholder)
	Exhibit L-1B	Form of Investor Certification for Non-Borrower Party (for the Controlling Class Representative and/or a Controlling Class Certificateholder)
	Exhibit L-1C	Form of Investor Certification for Borrower Party (for Persons other than the Controlling Class Representative and/or a Controlling Class Certificateholder)
	Exhibit L-1D	Form of Investor Certification for Borrower Party (for the Controlling Class Representative and/or a Controlling Class Certificateholder)



 



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	Exhibit L-1E	Form of Notice of Excluded Controlling Class Holder
	Exhibit L-1F	Form of Notice of Excluded Controlling Class Holder to Certificate Administrator
	Exhibit L-1G	Form of Certification of the Controlling Class Representative
	Exhibit L-2	Form of Financial Market Publisher Certification
	Exhibit M	Form of Notification from Custodian
	Exhibit N-1	Form of Closing Date Custodian Certification
	Exhibit N-2	Form of Post-Closing Custodian Certification
	Exhibit O	Form of Trustee Backup Certification
	Exhibit P	Form of Custodian Backup Certification
	Exhibit Q	Form of Certificate Administrator Backup Certification
	Exhibit R	Form of Operating Advisor Backup Certification
	Exhibit S	[Reserved]
	Exhibit T	Form of Master Servicer Backup Certification
	Exhibit U	Form of Special Servicer Backup Certification
	Exhibit V	Form of Sub-Servicer Backup Certification
	Exhibit W	Form of Sarbanes Oxley Certification
	Exhibit X	Mortgage Loan Seller Sub-Servicers
	Exhibit Y	[Reserved]
	Exhibit Z	Form of NRSRO Certification
	Exhibit AA-1	Form of Transferor Certificate for Transfer of the Excess Servicing Fee Rights
	Exhibit AA-2	Form of Transferee Certificate for Transfer of the Excess Servicing Fee Rights
	Exhibit BB	Form of Operating Advisor Annual Report
	Exhibit CC	Additional Disclosure Notification
	Exhibit DD	Form of Power of Attorney to the Master Servicer and Special Servicer
	Exhibit EE	Form of Non-Serviced Mortgage Loan Notification
	Exhibit FF	Form of Companion Loan Noteholder Certification
	Exhibit GG	[Reserved]
	Exhibit HH	Form of Asset Review Report by the Asset Representations Reviewer
	Exhibit II	Form of Asset Review Report Summary by the Asset Representations Reviewer
	Exhibit JJ	Asset Review Procedures
	Exhibit KK	Form of Certification to Certificate Administrator Requesting Access to Secure Data Room
	Exhibit LL	Form of Notice of [Additional Delinquent Mortgage Loan][Cessation of Delinquent Mortgage Loan][Cessation of Asset Review Trigger]
	 	 
	TABLE OF SCHEDULES
	 	 
	Schedule I	Directing Holders
	Schedule II	Servicing Criteria to be Addressed in Assessment of Compliance
	Schedule III	Class A-SB Planned Principal Balance Schedule
	Schedule IV	Additional Form 10-D Disclosure
	Schedule V	Additional Form 10-K Disclosure
	Schedule VI	Form 8-K Disclosure Information
	Schedule VII	Initial Serviced Companion Loan Noteholders
	Schedule VIII	Contact Information for the Other 17g-5 Information Provider




 




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Pooling and Servicing Agreement, dated
as of April 1, 2016, between Deutsche Mortgage & Asset Receiving Corporation, as Depositor, Wells Fargo Bank, National
Association, as Master Servicer, Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer, Wilmington
Trust, National Association, as Trustee, Wells Fargo Bank, National Association, as Certificate Administrator, Paying Agent and
Custodian, Park Bridge Lender Services LLC, as Operating Advisor, and Park Bridge Lender Services LLC, as Asset Representations
Reviewer.


 


PRELIMINARY STATEMENT:


 


(Terms used but not defined in this Preliminary Statement
shall have

the meanings specified in Article I hereof)


 


The Depositor intends to sell pass-through
certificates to be issued hereunder in multiple Classes which in the aggregate will evidence the entire beneficial ownership interest
in the Trust Fund consisting primarily of the Mortgage Loans.


 


The Lower-Tier REMIC will hold the
Mortgage Loans and certain other related assets subject to this Agreement, and will issue (i) the Lower-Tier Regular Interests
set forth in the table below (the “Lower-Tier Regular Interests”), as classes of regular interests in the Lower-Tier
REMIC and (ii) the Class LTR Interest as the sole class of residual interests in the Lower-Tier REMIC, which will be represented
by the Class R Certificates.


 


The Upper-Tier REMIC will hold the
Lower-Tier Regular Interests and certain other related assets subject to this Agreement and will issue (i) the Class A-1, Class
A-2, Class A-SB, Class A-3A, Class A-3B, Class A-4, Class X-A, Class X-B, Class X-C, Class X-D, Class X-E, Class X-F, Class A-M,
Class B, Class C, Class D, Class E, Class F, Class G and Class H Certificates, which are designated as classes of regular interests
in the Upper-Tier REMIC and (ii) the Class UTR Interest as the sole class of residual interests in the Upper-Tier REMIC, which
will be represented by the Class R Certificates.


 


The Mortgaged Property that secures
the Mortgage Loan identified as Loan No. 1 on the Mortgage Loan Schedule (the “787 Seventh Avenue Mortgage Loan”)
also secures seven companion loans to the same Borrower, which are pari passu in right of payment to the 787 Seventh Avenue
Mortgage Loan (the “787 Seventh Avenue Pari Passu Companion Loans”) and one companion loan, which is subordinate
in right of payment to the 787 Seventh Avenue Mortgage Loan (the “787 Seventh Avenue Subordinate Companion Loan”
and, together with the 787 Seventh Avenue Pari Passu Companion Loans, the “787 Seventh Avenue Companion Loans”).
The 787 Seventh Avenue Whole Loan is currently serviced pursuant to (i) the Other Pooling and Servicing Agreement related to the
Other Securitization designated as the COMM 2016-787S Mortgage Trust and (ii) the related Intercreditor Agreement. The 787
Seventh Avenue Companion Loans and all amounts attributable thereto will not be assets of the Trust Fund or the Trust REMICs and
will be beneficially owned by the related Companion Loan Noteholders.


 


The Mortgaged Property that secures
the Mortgage Loan identified as Loan No. 2 on the Mortgage Loan Schedule (the “Williamsburg Premium Outlets Mortgage Loan”)
also


 



    	 



    	 



    

 


secures four companion loans to the same Borrower, which are pari passu in right of payment to the Williamsburg Premium
Outlets Mortgage Loan (the “Williamsburg Premium Outlets Companion Loans”). The Williamsburg Premium Outlets
Whole Loan is serviced pursuant to (i) this Agreement and (ii) the related Intercreditor Agreement. The Williamsburg
Premium Outlets Companion Loans and all amounts attributable thereto will not be assets of the Trust Fund or the Trust REMICs and
will be beneficially owned by the related Companion Loan Noteholders.


 


The portfolio of Mortgaged Properties
that secure the Mortgage Loan identified as Loan No. 3 on the Mortgage Loan Schedule (the “Naples Grande Beach Resort
Mortgage Loan”) also secures two companion loans to the same Borrower, which are pari passu in right of payment
to the Naples Grande Beach Resort Mortgage Loan (the “Naples Grande Beach Resort Companion Loans”). The Naples
Grande Beach Resort Whole Loan is currently serviced pursuant to (i) the Other Pooling and Servicing Agreement related to the
Other Securitization designated as the JPMBB 2016-C1 Mortgage Trust and (ii) the related Intercreditor Agreement. The Naples
Grande Beach Resort Companion Loans and all amounts attributable thereto will not be assets of the Trust Fund or the Trust REMICs
and will be beneficially owned by the related Companion Loan Noteholders.


 


The Mortgaged Property that secures
the Mortgage Loan identified as Loan No. 5 on the Mortgage Loan Schedule (the “225 Liberty Street Mortgage Loan”)
also secures five companion loans to the same Borrower, which are pari passu in right of payment to the 225 Liberty Street
Mortgage Loan (the “225 Liberty Street Pari Passu Companion Loans”) and three companion loans, which are subordinate
in right of payment to the 225 Liberty Street Mortgage Loan (the “225 Liberty Street Subordinate Companion Loans”
and, together with the 225 Liberty Street Pari Passu Companion Loans, the “225 Liberty Street Companion Loans”).
The 225 Liberty Street Whole Loan is currently serviced pursuant to (i) the Other Pooling and Servicing Agreement related to the
Other Securitization designated as the 225 Liberty Street Trust 2016-225L Mortgage Trust and (ii) the related Intercreditor
Agreement. The 225 Liberty Street Companion Loans and all amounts attributable thereto will not be assets of the Trust Fund or
the Trust REMICs and will be beneficially owned by the related Companion Loan Noteholders.


 


The Mortgaged Property that secures
the Mortgage Loan identified as Loan No. 6 on the Mortgage Loan Schedule (the “600 Broadway Mortgage Loan”)
also secures five companion loans to the same Borrower, which are pari passu in right of payment to the 600 Broadway Mortgage
Loan (the “600 Broadway Companion Loans”). The 600 Broadway Whole Loan is serviced pursuant to (i) this
Agreement and (ii) the related Intercreditor Agreement. The 600 Broadway Companion Loans and all amounts attributable thereto
will not be assets of the Trust Fund or the Trust REMICs and will be beneficially owned by the related Companion Loan Noteholders.


 


The Mortgaged Property that secures
the Mortgage Loan identified as Loan No. 7 on the Mortgage Loan Schedule (the “SLS South Beach Outlets Mortgage Loan”)
also secures one companion loan to the same Borrower, which is pari passu in right of payment to the SLS South Beach Mortgage
Loan (the “SLS South Beach Companion Loan”). The SLS South Beach Whole Loan is serviced pursuant to (i) this
Agreement and (ii) the related Intercreditor Agreement. The SLS South Beach Companion Loans and all amounts attributable thereto
will not be assets of the Trust Fund or the Trust REMICs and will be beneficially owned by the


 



    	-2-



    	 



    
     

related Companion Loan Noteholder.


 


The portfolio of Mortgaged Properties
that secure the Mortgage Loan identified as Loan No. 9 on the Mortgage Loan Schedule (the “7700 Parmer Mortgage Loan”)
also secures two companions loan to the same Borrower, which are pari passu in right of payment to the 7700 Parmer Mortgage
Loan (the “7700 Parmer Companion Loans”). The 7700 Parmer Whole Loan is currently serviced pursuant to (i) the
Other Pooling and Servicing Agreement related to the Other Securitization designated as the JPMCC 2015-JP1 Mortgage Trust and (ii) the
related Intercreditor Agreement. The 7700 Parmer Companion Loan and all amounts attributable thereto will not be assets of the
Trust Fund or the Trust REMICs and will be beneficially owned by the related Companion Loan Noteholders.


 


The Mortgaged Property that secures
the Mortgage Loan identified as Loan No. 11 on the Mortgage Loan Schedule (the “Columbus Park Crossing Mortgage Loan”)
also secures one companion loan to the same Borrower, which is pari passu in right of payment to the Columbus Park Crossing
Mortgage Loan (the “Columbus Park Crossing Companion Loan”). The Columbus Park Crossing Whole Loan is currently
serviced pursuant to (i) the Other Pooling and Servicing Agreement related to the Other Securitization designated as the COMM 2016-DC2
Mortgage Trust and (ii) the related Intercreditor Agreement. The Columbus Park Crossing Companion Loan and all amounts attributable
thereto will not be assets of the Trust Fund or the Trust REMICs and will be beneficially owned by the related Companion Loan Noteholder.


 


The Mortgaged Property that secures
the Mortgage Loan identified as Loan No. 12 on the Mortgage Loan Schedule (the “Hagerstown Premium Outlets Mortgage
Loan”) also secures three companion loans to the same Borrower, which are each pari passu in right of payment
with each other and to the Hagerstown Premium Outlets Mortgage Loan (collectively, the “Hagerstown Premium Outlets Companion
Loans”). The Hagerstown Premium Outlets Whole Loan will be serviced (a) from and after the Closing Date and prior to
the Hagerstown Premium Outlets Pari Passu Note A-2 Securitization Date, pursuant to (i) this Agreement and (ii) the related
Intercreditor Agreement and (b) from and after the Hagerstown Premium Outlets Pari Passu Note A-2 Securitization Date, pursuant
to (i) the Other Pooling and Servicing Agreement related to the Other Securitization involving the Hagerstown Premium Outlets Pari
Passu Note A-2 and (ii) the related Intercreditor Agreement. The Hagerstown Premium Outlets Companion Loans and all amounts attributable
thereto will not be assets of the Trust Fund or the Trust REMICs and will be beneficially owned by the related Companion Loan Noteholders.


 


The Mortgaged Property that secures
the Mortgage Loan identified as Loan No. 13 on the Mortgage Loan Schedule (the “Hall Office Park A1/G1/G3 Mortgage Loan”)
also secures one companion loan to the same Borrower, which is pari passu in right of payment to the Hall Office Park A1/G1/G3
Mortgage Loan (the “Hall Office Park A1/G1/G3 Companion Loan”). The Hall Office Park A1/G1/G3 Whole Loan is
serviced pursuant to (i) this Agreement and (ii) the related Intercreditor Agreement. The Hall Office Park A1/G1/G3 Companion
Loan and all amounts attributable thereto will not be assets of the Trust Fund or the Trust REMICs and will be beneficially owned
by the related Companion Loan Noteholder.


 


The Mortgaged Property that secures
the Mortgage Loan identified as Loan No. 15 on the Mortgage Loan Schedule (the “Renaissance Providence Downtown Hotel
Mortgage Loan”) also secures one companion loan to the same Borrower, which is pari passu in right of


 



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payment
to the Renaissance Providence Downtown Hotel Mortgage Loan (the “Renaissance Providence Downtown Hotel Companion Loan”).
The Renaissance Providence Downtown Hotel Whole Loan is serviced pursuant to (i) this Agreement and (ii) the related
Intercreditor Agreement. The Renaissance Providence Downtown Hotel and all amounts attributable thereto will not be assets of the
Trust Fund or the Trust REMICs and will be beneficially owned by the related Companion Loan Noteholder.


 


The following table sets forth the
Class designation and initial Certificate Balance or initial Notional Amount of each Class of Regular Certificates (collectively,
the “Corresponding Certificates”), and the corresponding Lower-Tier Regular Interest(s) (the “Corresponding
Lower-Tier Regular Interest”) and the Corresponding Component of the Class X Certificates (the “Corresponding
Component”) for each Class of Corresponding Certificates.


 


	
        Corresponding

        Certificates

	 	Initial Certificate 

Balance or Notional 

Amount



	 	
        Corresponding 

Lower-Tier 

Regular Interests(1)

	 	
        Initial Lower-Tier 

Principal Balance

	 	
        Corresponding 

Class X 

Component(1)


	Class A-1	 	$	28,858,000	 	 	LA-1	 	$28,858,000	 	XA-1
	Class A-2	 	$	35,000,000	 	 	LA-2	 	$35,000,000	 	XA-2
	Class A-SB	 	$	46,052,000	 	 	LA-SB	 	$46,052,000	 	XA-SB
	Class A-3A	 	$	140,000,000	 	 	LA-3A	 	$140,000,000	 	XA-3A
	Class A-3B	 	$	75,000,000	 	 	LA-3B	 	$75,000,000	 	XA-3B
	Class A-4	 	$	247,714,000	 	 	LA-4	 	$247,714,000	 	XA-4
	Class X-A	 	$	637,044,000	(2)	 	N/A	 	N/A	 	N/A
	Class X-B	 	$	85,894,000	(2)	 	N/A	 	N/A	 	N/A
	Class X-C	 	$	38,856,000	(2)	 	N/A	 	N/A	 	N/A
	Class X-D	 	$	17,384,000	(2)	 	N/A	 	N/A	 	N/A
	Class X-E	 	$	16,360,000	(2)	 	N/A	 	N/A	 	N/A
	Class X-F	 	$	22,496,828	(2)	 	N/A	 	N/A	 	N/A
	Class A-M	 	$	64,420,000	 	 	LA-M	 	$64,420,000	 	XA-M
	Class B	 	$	50,105,000	 	 	LB	 	$50,105,000	 	XB
	Class C	 	$	35,789,000	 	 	LC	 	$35,789,000	 	XC
	Class D	 	$	38,856,000	 	 	LD	 	$38,856,000	 	XD
	Class E	 	$	17,384,000	 	 	LE	 	$17,384,000	 	XE
	Class F	 	$	8,180,000	 	 	LF	 	$8,180,000	 	XF
	Class G	 	$	8,180,000	 	 	LG	 	$8,180,000	 	XG
	Class H	 	$	22,496,828	 	 	LH	 	$22,496,828	 	XH

 

		(1)	The Lower-Tier Regular Interest and the Component of the Class X-A, Class X-B, Class X-C, Class
X-D, Class X-E or Class X-F Certificates that correspond to any particular Class of Regular Certificates also correspond to each
other and, accordingly, constitute the (i) Corresponding Lower-Tier Regular Interest and (ii) Corresponding Component,
respectively, with respect to each other. The Class X Component Notional Amount for such Corresponding Component of the Class X-A,
Class X-B, Class X-C, Class X-D, Class X-E or Class X-F Certificates shall at all times equal the then Lower-Tier Principal Balance
of the Corresponding Lower-Tier Regular Interest.



 


		(2)	Notional
                                         Amount.



 


The Class X-A, Class X-B, Class X-C,
Class X-D, Class X-E, Class X-F and Class R Certificates do not have Certificate Balances. Additionally, the Class R Certificates
do not have a Notional Amount. The Certificate Balance of any Class of Sequential Pay Certificates outstanding at any time represents
the maximum amount which holders thereof are entitled to receive as distributions allocable to principal from the cash flow on
the Mortgage Loans and the other assets in the Trust Fund; provided that if amounts previously allocated as Realized Losses,
to a Class of Certificates in reduction of the Certificate Balance thereof are subsequently


 



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recovered (including without limitation
after the reduction of the Certificate Balance of such Class to zero), such Class may receive distributions in respect of such
recoveries in accordance with the priorities set forth in Section 4.01 of this Agreement.


 


As of the Cut-off Date, the Mortgage
Loans have an aggregate Stated Principal Balance equal to approximately $818,034,828.


 


In consideration of the mutual agreements
herein contained, the Depositor, the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Operating
Advisor, the Asset Representations Reviewer and the other parties hereto hereby agree as follows:


 


Article I



DEFINITIONS


 


Section 1.01Defined Terms.
Whenever used in this Agreement, the following words and phrases, unless the context otherwise requires, shall have the meanings
specified in this Article.


 


“8-K Filing Deadline”:
As defined in Section 10.09 of this Agreement.


 


“10-K Filing Deadline”:
As defined in Section 10.07 of this Agreement.


 


“17g-5 Information Provider”:
The Certificate Administrator.


 


“17g-5 Information Provider’s
Website”: The internet website of the 17g-5 Information Provider, initially located at www.ctslink.com, under
the “NRSRO” tab or other applicable tab of the respective transaction, access to which is limited to the Depositor
and to NRSROs who have provided an NRSRO Certification to the 17g-5 Information Provider.


 


“225 Liberty Street Companion
Loans”: As defined in the Preliminary Statement.


 


“225 Liberty Street Mortgage
Loan”: As defined in the Preliminary Statement.


 


“225 Liberty Street Pari Passu
Companion Loans”: As defined in the Preliminary Statement.


 


“225 Liberty Street Subordinate
Companion Loans”: As defined in the Preliminary Statement.


 


“225 Liberty Street Pari Passu
Note A-1A”: The promissory note designated as Note A-1A, which evidences a portion of the 225 Liberty Street Whole
Loan. The 225 Liberty Street Pari Passu Note A-1A is not included in the Trust Fund and is pari passu in right of payment
to the 225 Liberty Street Pari Passu Note A-1B, the 225 Liberty Street Pari Passu Note A-1C, the 225 Liberty Street Pari
Passu Note A-1D, the 225 Liberty Street Pari Passu Note A-1E and the 225 Liberty Street Pari Passu Note A-1F, and
senior in right of payment to the 225 Liberty Street Subordinate Note A-2A, the 225 Liberty Street Subordinate Note A-2B


 



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and the 225 Liberty Street Subordinate Note A-2C, as set forth in the related Intercreditor Agreement. As of the Closing Date,
the 225 Liberty Street Pari Passu Note A-1A is held by the 225 Liberty Street Trust 2016-225L Mortgage Trust.


 


“225 Liberty Street Pari Passu
Note A-1B”: The promissory note designated as Note A-1B, which evidences a portion of the 225 Liberty Street Whole
Loan. The 225 Liberty Street Pari Passu Note A-1B is not included in the Trust Fund and is pari passu in right of payment
to the 225 Liberty Street Pari Passu Note A-1A, the 225 Liberty Street Pari Passu Note A-1C, the 225 Liberty Street Pari
Passu Note A-1D, the 225 Liberty Street Pari Passu Note A-1E and the 225 Liberty Street Pari Passu Note A-1F, and
senior in right of payment to the 225 Liberty Street Subordinate Note A-2A, the 225 Liberty Street Subordinate Note A-2B
and the 225 Liberty Street Subordinate Note A-2C, as set forth in the related Intercreditor Agreement. As of the Closing Date,
the 225 Liberty Street Pari Passu Note A-1B is held by the 225 Liberty Street Trust 2016-225L Mortgage Trust.


 


“225 Liberty Street Pari Passu
Note A-1C”: The promissory note designated as Note A-1C, which evidences a portion of the 225 Liberty Street Whole
Loan. The 225 Liberty Street Pari Passu Note A-1C is not included in the Trust Fund and is pari passu in right of payment
to the 225 Liberty Street Pari Passu Note A-1A, the 225 Liberty Street Pari Passu Note A-1B, the 225 Liberty Street Pari
Passu Note A-1D, the 225 Liberty Street Pari Passu Note A-1E and the 225 Liberty Street Pari Passu Note A-1F, and
senior in right of payment to the 225 Liberty Street Subordinate Note A-2A, the 225 Liberty Street Subordinate Note A-2B
and the 225 Liberty Street Subordinate Note A-2C, as set forth in the related Intercreditor Agreement. As of the Closing Date,
the 225 Liberty Street Pari Passu Note A-1C is held by the 225 Liberty Street Trust 2016-225L Mortgage Trust.


 


“225 Liberty Street Pari Passu
Note A-1D”: The promissory note designated as Note A-1D, which evidences a portion of the 225 Liberty Street Whole
Loan. The 225 Liberty Street Pari Passu Note A-1D is not included in the Trust Fund and is pari passu in right of payment
to the 225 Liberty Street Pari Passu Note A-1A, the 225 Liberty Street Pari Passu Note A-1B, the 225 Liberty Street Pari
Passu Note A-1C, the 225 Liberty Street Pari Passu Note A-1E and the 225 Liberty Street Pari Passu Note A-1F, and
senior in right of payment to the 225 Liberty Street Subordinate Note A-2A, the 225 Liberty Street Subordinate Note A-2B
and the 225 Liberty Street Subordinate Note A-2C, as set forth in the related Intercreditor Agreement. As of the Closing Date,
the 225 Liberty Street Pari Passu Note A-1D is held by the CGCMT 2016-P3 Mortgage Trust.


 


“225 Liberty Street Pari Passu
Note A-1E”: The promissory note designated as Note A-1E, which evidences a portion of the 225 Liberty Street Whole
Loan. The 225 Liberty Street Pari Passu Note A-1E is included in the Trust Fund and is pari passu in right of payment to
the 225 Liberty Street Pari Passu Note A-1A, the 225 Liberty Street Pari Passu Note A-1B, the 225 Liberty Street Pari
Passu Note A-1C, the 225 Liberty Street Pari Passu Note A-1D and the 225 Liberty Street Pari Passu Note A-1F, and
senior in right of payment to the 225 Liberty Street Subordinate Note A-2A, the 225 Liberty Street Subordinate Note A-2B
and the 225 Liberty Street Subordinate Note A-2C, as set forth in the related Intercreditor Agreement. As of the Closing Date,
the 225 Liberty Street Pari Passu Note A-1E is a Mortgage Loan.


 



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“225 Liberty Street Pari Passu
Note A-1F”: The promissory note designated as Note A-1F, which evidences a portion of the 225 Liberty Street Whole
Loan. The 225 Liberty Street Pari Passu Note A-1F is not included in the Trust Fund and is pari passu in right of payment
to the 225 Liberty Street Pari Passu Note A-1A, the 225 Liberty Street Pari Passu Note A-1B, the 225 Liberty Street Pari
Passu Note A-1C, the 225 Liberty Street Pari Passu Note A-1D and the 225 Liberty Street Pari Passu Note A-1E, and
senior in right of payment to the 225 Liberty Street Subordinate Note A-2A, the 225 Liberty Street Subordinate Note A-2B
and the 225 Liberty Street Subordinate Note A-2C, as set forth in the related Intercreditor Agreement. As of the Closing Date,
the 225 Liberty Street Pari Passu Note A-1F is held by the WFCM 2016-C33 Mortgage Trust.


 


“225 Liberty Street Subordinate
Note A-2A”: The promissory note designated as Note A-2A, which evidences a portion of the 225 Liberty Street Whole
Loan. The 225 Liberty Street Subordinate Note A-2A is not included in the Trust Fund and is pari passu in right of payment
to the 225 Liberty Street Subordinate Note A-2B and the 225 Liberty Street Subordinate Note A-2C, and subordinate in right of payment
to the 225 Liberty Street Pari Passu Note A-1A, the 225 Liberty Street Pari Passu Note A-1B, the 225 Liberty Street Pari Passu
Note A-1C, the 225 Liberty Street Pari Passu Note A-1D, the 225 Liberty Street Pari Passu Note A-1E and the 225 Liberty Street
Pari Passu Note A-1F, as set forth in the related Intercreditor Agreement. As of the Closing Date, the 225 Liberty Street Pari
Passu Note A-2A is held by the 225 Liberty Street Trust 2016-225L Mortgage Trust.


 


“225 Liberty Street Subordinate
Note A-2B”: The promissory note designated as Note A-2B, which evidences a portion of the 225 Liberty Street Whole
Loan. The 225 Liberty Street Subordinate Note A-2B is not included in the Trust Fund and is pari passu in right of payment
to the 225 Liberty Street Subordinate Note A-2A and the 225 Liberty Street Subordinate Note A-2C, and subordinate in right of payment
to the 225 Liberty Street Pari Passu Note A-1A, the 225 Liberty Street Pari Passu Note A-1B, the 225 Liberty Street Pari Passu
Note A-1C, the 225 Liberty Street Pari Passu Note A-1D, the 225 Liberty Street Pari Passu Note A-1E and the 225 Liberty Street
Pari Passu Note A-1F, as set forth in the related Intercreditor Agreement. As of the Closing Date, the 225 Liberty Street Pari
Passu Note A-2B is held by the 225 Liberty Street Trust 2016-225L Mortgage Trust.


 


“225 Liberty Street Subordinate
Note A-2C”: The promissory note designated as Note A-C, which evidences a portion of the 225 Liberty Street Whole
Loan. The 225 Liberty Street Subordinate Note A-2C is not included in the Trust Fund and is pari passu in right of payment
to the 225 Liberty Street Subordinate Note A-2A and the 225 Liberty Street Subordinate Note A-2B, and subordinate in right of payment
to the 225 Liberty Street Pari Passu Note A-1A, the 225 Liberty Street Pari Passu Note A-1B, the 225 Liberty Street Pari Passu
Note A-1C, the 225 Liberty Street Pari Passu Note A-1D, the 225 Liberty Street Pari Passu Note A-1E and the 225 Liberty Street
Pari Passu Note A-1F, as set forth in the related Intercreditor Agreement. As of the Closing Date, the 225 Liberty Street Pari
Passu Note A-2C is held by the 225 Liberty Street Trust 2016-225L Mortgage Trust.


 


“225 Liberty Street Trust
and Servicing Agreement”: The trust and servicing agreement, dated as of February 6, 2016 among Citigroup Commercial
Mortgage Securities Inc., as depositor, Wells Fargo Bank, National Association, as master servicer, Trimont Real Estate Advisors,
LLC, as special servicer, Wilmington Trust, National Association, as trustee and


 



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Citibank, N.A., as certificate administrator,
paying agent and custodian, and entered into in connection with the 225 Liberty Street Trust 2016-225L Mortgage Trust.


 


“225 Liberty Street Service
Providers”: With respect to the 225 Liberty Street Companion Loans, the related Other Trustee, Other Servicer, Other
Special Servicer and any related sub-servicer, as applicable, and any other Person that makes principal and/or interest advances
in respect of such mortgage loan pursuant to the related Other Pooling and Servicing Agreement.


 


“225 Liberty Street Whole
Loan”: The 225 Liberty Street Companion Loans, together with the 225 Liberty Street Mortgage Loan. References herein
to the 225 Liberty Street Whole Loan shall be construed to refer to the aggregate indebtedness under the 225 Liberty Street Pari
Passu Note A-1A, the 225 Liberty Street Pari Passu Note A-1B, the 225 Liberty Street Pari Passu Note A-1C, the 225 Liberty Street
Pari Passu Note A-1D, the 225 Liberty Street Pari Passu Note A-1E, the 225 Liberty Street Pari Passu Note A-1F, the 225 Liberty
Street Subordinate Note A-2A, the 225 Liberty Street Subordinate Note A-2B and the 225 Liberty Street Subordinate Note A-2C.


 


“600 Broadway Companion Loans”:
As defined in the Preliminary Statement.


 


“600 Broadway Mortgage Loan”:
As defined in the Preliminary Statement.


 


“600 Broadway Pari Passu Note A-1”:
The promissory note designated as Note A-1, which evidences a portion of the 600 Broadway Whole Loan. The 600 Broadway Pari Passu
Note A-1 is not included in the Trust Fund and is pari passu in right of payment to the 600 Broadway Pari Passu Note A-2-1,
the 600 Broadway Pari Passu Note A-2-2, the 600 Broadway Pari Passu Note A-3, the 600 Broadway Pari Passu Note A-4,
the 600 Broadway Pari Passu Note A-5-1, the 600 Broadway Pari Passu Note A-5-2 and the 600 Broadway Pari Passu Note A-6,
as set forth in the related Intercreditor Agreement. The 600 Broadway Pari Passu Note A-1 is held by the CGCMT 2016-P3 Mortgage
Trust.


 


“600 Broadway Pari Passu Note A-2-1”:
The promissory note designated as Note A-2-1 which evidences a portion of the 600 Broadway Whole Loan. The 600 Broadway Pari Passu
Note A-2-1 is not included in the Trust Fund and is pari passu in right of payment to the 600 Broadway Pari Passu Note A-1,
the 600 Broadway Pari Passu Note A-2-2, the 600 Broadway Pari Passu Note A-3, the 600 Broadway Pari Passu Note A-4,
the 600 Broadway Pari Passu Note A-5-1, the 600 Broadway Pari Passu Note A-5-2 and the 600 Broadway Pari Passu Note A-6,
as set forth in the related Intercreditor Agreement. The 600 Broadway Pari Passu Note A-2-1 is held by the CGCMT 2016-P3 Mortgage
Trust.


 


“600 Broadway Pari Passu Note A-2-2”:
The promissory note designated as Note A-2-2, which evidences a portion of the 600 Broadway Whole Loan. The 600 Broadway Pari Passu
Note A-2-2 is not included in the Trust Fund and is pari passu in right of payment to the 600 Broadway Pari Passu Note A-1,
the 600 Broadway Pari Passu Note A-2-1, the 600 Broadway Pari Passu Note A-3, the 600 Broadway Pari Passu Note A-4,
the 600 Broadway Pari Passu Note A-5-1, the 600 Broadway Pari Passu Note A-5-2 and the 600 Broadway Pari Passu Note A-6,
as set forth in the related Intercreditor Agreement. The 600 Broadway Pari Passu Note A-2-2 is held by The Bank of New York Mellon.


 



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“600 Broadway Pari Passu Note A-3”:
The promissory note designated as Note A-3, which evidences a portion of the 600 Broadway Whole Loan. The 600 Broadway Pari Passu
Note A-3 is not included in the Trust Fund and is pari passu in right of payment to the 600 Broadway Pari Passu Note A-1,
the 600 Broadway Pari Passu Note A-2-1, the 600 Broadway Pari Passu Note A-2-2, the 600 Broadway Pari Passu Note A-4,
the 600 Broadway Pari Passu Note A-5-1, the 600 Broadway Pari Passu Note A-5-2 and the 600 Broadway Pari Passu Note A-6,
as set forth in the related Intercreditor Agreement. The 600 Broadway Pari Passu Note A-3 is held by the CGCMT 2016-P3 Mortgage
Trust.


 


“600 Broadway Pari Passu Note A-4”:
The promissory note designated as Note A-4, which evidences a portion of the 600 Broadway Whole Loan. The 600 Broadway Pari Passu
Note A-4 is included in the Trust Fund and is pari passu in right of payment to the 600 Broadway Pari Passu Note A-1,
the 600 Broadway Pari Passu Note A-2-1, the 600 Broadway Pari Passu Note A-2-2, the 600 Broadway Pari Passu Note A-3,
the 600 Broadway Pari Passu Note A-5-1, the 600 Broadway Pari Passu Note A-5-2 and the 600 Broadway Pari Passu Note A-6,
as set forth in the related Intercreditor Agreement. The 600 Broadway Pari Passu Note A-4 is a Mortgage Loan.


 


“600 Broadway Pari Passu Note A-5-1”:
The promissory note designated as Note A-5-1, which evidences a portion of the 600 Broadway Whole Loan. The 600 Broadway Pari Passu
Note A-5-1 is included in the Trust Fund and is pari passu in right of payment to the 600 Broadway Pari Passu Note A-1,
the 600 Broadway Pari Passu Note A-2-1, the 600 Broadway Pari Passu Note A-2-2, the 600 Broadway Pari Passu Note A-3,
the 600 Broadway Pari Passu Note A-4, the 600 Broadway Pari Passu Note A-5-2 and the 600 Broadway Pari Passu Note A-6,
as set forth in the related Intercreditor Agreement. The 600 Broadway Pari Passu Note A-5-1 is a Mortgage Loan.


 


“600 Broadway Pari Passu Note A-5-2”:
The promissory note designated as Note A-5-2, which evidences a portion of the 600 Broadway Whole Loan. The 600 Broadway Pari Passu
Note A-5-2 is included in the Trust Fund and is pari passu in right of payment to the 600 Broadway Pari Passu Note A-1,
the 600 Broadway Pari Passu Note A-2-1, the 600 Broadway Pari Passu Note A-2-2, the 600 Broadway Pari Passu Note A-3,
the 600 Broadway Pari Passu Note A-4, the 600 Broadway Pari Passu Note A-5-1 and the 600 Broadway Pari Passu Note A-6,
as set forth in the related Intercreditor Agreement. The 600 Broadway Pari Passu Note A-5-2 is a Mortgage Loan.


 


“600 Broadway Pari Passu Note A-6”:
The promissory note designated as Note A-6, which evidences a portion of the 600 Broadway Whole Loan. The 600 Broadway Pari Passu
Note A-6 is not included in the Trust Fund and is pari passu in right of payment to the 600 Broadway Pari Passu Note A-1,
the 600 Broadway Pari Passu Note A-2-1, the 600 Broadway Pari Passu Note A-2-2, the 600 Broadway Pari Passu Note A-3,
the 600 Broadway Pari Passu Note A-4, the 600 Broadway Pari Passu Note A-5-1 and the 600 Broadway Pari Passu Note A-5-2,
as set forth in the related Intercreditor Agreement. The 600 Broadway Pari Passu Note A-6 is held by GACC.


 


“600 Broadway Whole Loan”:
The 600 Broadway Companion Loans, together with the 600 Broadway Mortgage Loan. References herein to the 600 Broadway Whole Loan
shall be construed to refer to the aggregate indebtedness under the 600 Broadway Pari Passu


 



    	-9-



    	 



    

 


Note A-1, the 600 Broadway Pari Passu
Note A-2-1, the 600 Broadway Pari Passu Note A-2-2, the 600 Broadway Pari Passu Note A-3, the 600 Broadway Pari Passu Note A-4,
the 600 Broadway Pari Passu Note A-5-1, the 600 Broadway Pari Passu Note A-5-2 and the 600 Broadway Pari Passu Note A-6.


 


“787 Seventh Avenue Companion
Loans”: As defined in the Preliminary Statement.


 


“787 Seventh Avenue Pari Passu
Companion Loans”: As defined in the Preliminary Statement.


 


“787 Seventh Avenue Subordinate
Companion Loan”: As defined in the Preliminary Statement.


 


“787 Seventh Avenue Mortgage
Loan”: As defined in the Preliminary Statement.


 


“787 Seventh Avenue Pari Passu
Note A-1”: The promissory note designated as Note A-1, which evidences a portion of the 787 Seventh Avenue Whole
Loan. The 787 Seventh Avenue Pari Passu Note A-1 is not included in the Trust Fund and is pari passu in right of payment
to the 787 Seventh Avenue Pari Passu Note A-2, the 787 Seventh Avenue Pari Passu Note A-3, the 787 Seventh Avenue Pari
Passu Note A-4, the 787 Seventh Avenue Pari Passu Note A-5, the 787 Seventh Avenue Pari Passu Note A-6, the 787
Seventh Avenue Pari Passu Note A-7 and the 787 Seventh Avenue Pari Passu Note A-8, and senior in right of payment to
the 787 Seventh Avenue Subordinate Note B, as set forth in the related Intercreditor Agreement. As of the Closing Date, the 787
Seventh Avenue Pari Passu Note A-1 is held by the COMM 2016-787S Mortgage Trust.


 


“787 Seventh Avenue Pari Passu
Note A-2”: The promissory note designated as Note A-2, which evidences a portion of the 787 Seventh Avenue Whole
Loan. The 787 Seventh Avenue Pari Passu Note A-2 is not included in the Trust Fund and is pari passu in right of payment
to the 787 Seventh Avenue Pari Passu Note A-1, the 787 Seventh Avenue Pari Passu Note A-3, the 787 Seventh Avenue Pari
Passu Note A-4, the 787 Seventh Avenue Pari Passu Note A-5, the 787 Seventh Avenue Pari Passu Note A-6, the 787
Seventh Avenue Pari Passu Note A-7 and the 787 Seventh Avenue Pari Passu Note A-8, and senior in right of payment to
the 787 Seventh Avenue Subordinate Note B, as set forth in the related Intercreditor Agreement. As of the Closing Date, the 787
Seventh Avenue Pari Passu Note A-2 is held by the COMM 2016-787S Mortgage Trust.


 


“787 Seventh Avenue Pari Passu
Note A-3”: The promissory note designated as Note A-3, which evidences a portion of the 787 Seventh Avenue Whole
Loan. The 787 Seventh Avenue Pari Passu Note A-3 is not included in the Trust Fund and is pari passu in right of payment
to the 787 Seventh Avenue Pari Passu Note A-1, the 787 Seventh Avenue Pari Passu Note A-2, the 787 Seventh Avenue Pari
Passu Note A-4, the 787 Seventh Avenue Pari Passu Note A-5, the 787 Seventh Avenue Pari Passu Note A-6, the 787
Seventh Avenue Pari Passu Note A-7 and the 787 Seventh Avenue Pari Passu Note A-8, and senior in right of payment to
the 787 Seventh Avenue Subordinate Note B, as set forth in the related Intercreditor Agreement. As of the Closing Date, the 787
Seventh Avenue Pari Passu Note A-3 is held by the COMM 2016-787S Mortgage Trust.


 



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“787 Seventh Avenue Pari Passu
Note A-4”: The promissory note designated as Note A-4, which evidences a portion of the 787 Seventh Avenue Whole
Loan. The 787 Seventh Avenue Pari Passu Note A-4 is not included in the Trust Fund and is pari passu in right of payment
to the 787 Seventh Avenue Pari Passu Note A-1, the 787 Seventh Avenue Pari Passu Note A-2, the 787 Seventh Avenue Pari
Passu Note A-3, the 787 Seventh Avenue Pari Passu Note A-5, the 787 Seventh Avenue Pari Passu Note A-6, the 787
Seventh Avenue Pari Passu Note A-7 and the 787 Seventh Avenue Pari Passu Note A-8, and senior in right of payment to
the 787 Seventh Avenue Subordinate Note B, as set forth in the related Intercreditor Agreement. As of the Closing Date, the 787
Seventh Avenue Pari Passu Note A-4 is held by the COMM 2016-787S Mortgage Trust.


 


“787 Seventh Avenue Pari Passu
Note A-5”: The promissory note designated as Note A-5, which evidences a portion of the 787 Seventh Avenue Whole
Loan. The 787 Seventh Avenue Pari Passu Note A-5 is not included in the Trust Fund and is pari passu in right of payment
to the 787 Seventh Avenue Pari Passu Note A-1, the 787 Seventh Avenue Pari Passu Note A-2, the 787 Seventh Avenue Pari
Passu Note A-3, the 787 Seventh Avenue Pari Passu Note A-4, the 787 Seventh Avenue Pari Passu Note A-6, the 787
Seventh Avenue Pari Passu Note A-7 and the 787 Seventh Avenue Pari Passu Note A-8, and senior in right of payment to
the 787 Seventh Avenue Subordinate Note B, as set forth in the related Intercreditor Agreement. As of the Closing Date, the 787
Seventh Avenue Pari Passu Note A-5 is held by the COMM 2016-787S Mortgage Trust.


 


“787 Seventh Avenue Pari Passu
Note A-6”: The promissory note designated as Note A-6, which evidences a portion of the 787 Seventh Avenue Whole
Loan. The 787 Seventh Avenue Pari Passu Note A-6 is not included in the Trust Fund and is pari passu in right of payment
to the 787 Seventh Avenue Pari Passu Note A-1, the 787 Seventh Avenue Pari Passu Note A-2, the 787 Seventh Avenue Pari
Passu Note A-3, the 787 Seventh Avenue Pari Passu Note A-4, the 787 Seventh Avenue Pari Passu Note A-5, the 787
Seventh Avenue Pari Passu Note A-7 and the 787 Seventh Avenue Pari Passu Note A-8, and senior in right of payment to
the 787 Seventh Avenue Subordinate Note B, as set forth in the related Intercreditor Agreement. As of the Closing Date, the 787
Seventh Avenue Pari Passu Note A-6 is held by the COMM 2016-787S Mortgage Trust.


 


“787 Seventh Avenue Pari Passu
Note A-7”: The promissory note designated as Note A-7, which evidences a portion of the 787 Seventh Avenue Whole
Loan. The 787 Seventh Avenue Pari Passu Note A-7 is included in the Trust Fund and is pari passu in right of payment to
the 787 Seventh Avenue Pari Passu Note A-1, the 787 Seventh Avenue Pari Passu Note A-2, the 787 Seventh Avenue Pari Passu
Note A-3, the 787 Seventh Avenue Pari Passu Note A-4, the 787 Seventh Avenue Pari Passu Note A-5, the 787 Seventh
Avenue Pari Passu Note A-6 and the 787 Seventh Avenue Pari Passu Note A-8, and senior in right of payment to the 787
Seventh Avenue Subordinate Note B, as set forth in the related Intercreditor Agreement. As of the Closing Date, the 787 Seventh
Avenue Pari Passu Note A-7 is a Mortgage Loan.


 


“787 Seventh Avenue Pari Passu
Note A-8”: The promissory note designated as Note A-8, which evidences a portion of the 787 Seventh Avenue Whole
Loan. The 787 Seventh Avenue Pari Passu Note A-8 is not included in the Trust Fund and is pari passu in right of payment
to the 787 Seventh Avenue Pari Passu Note A-1, the 787 Seventh Avenue Pari Passu Note A-2, the 787 Seventh Avenue Pari
Passu Note A-3, the 787 Seventh Avenue Pari Passu


 



    	-11-



    	 



    

 


Note A-4, the 787 Seventh Avenue Pari Passu Note A-5, the 787
Seventh Avenue Pari Passu Note A-6 and the 787 Seventh Avenue Pari Passu Note A-7, and senior in right of payment to
the 787 Seventh Avenue Subordinate Note B, as set forth in the related Intercreditor Agreement. As of the Closing Date, the 787
Seventh Avenue Pari Passu Note A-8 is held by GACC.


 


“787 Seventh Avenue Subordinate
Note B”: The promissory note designated as Note B, which evidences a portion of the 787 Seventh Avenue Whole Loan.
The 787 Seventh Avenue Subordinate Note B is not included in the Trust and is subordinate in right of payment to the 787 Seventh
Avenue Pari Passu Note A-1, the 787 Seventh Avenue Pari Passu Note A-2, the 787 Seventh Avenue Pari Passu Note A-3, the 787 Seventh
Avenue Pari Passu Note A-4, the 787 Seventh Avenue Pari Passu Note A-5, the 787 Seventh Avenue Pari Passu Note A-6, the 787 Seventh
Avenue Pari Passu Note A-7 and the 787 Seventh Avenue Pari Passu Note A-8, as set forth in the related Intercreditor Agreement.
As of the Closing Date, the 787 Seventh Avenue Subordinate Note B is held by the COMM 2016-787S Mortgage Trust.


 


“787 Seventh Avenue Trust
and Servicing Agreement”: The trust and servicing agreement, dated as of March 1, 2016 among Deutsche Mortgage &
Asset Receiving Corporation, as depositor, Wells Fargo Bank, National Association, as master servicer, Wells Fargo Bank, National
Association, as special servicer, Wilmington Trust, National Association, as trustee and Deutsche Bank Trust Company Americas,
as certificate administrator, paying agent and custodian, and entered into in connection with the COMM 2016-787S Mortgage Trust.


 


“787 Seventh Avenue Service
Providers”: With respect to the 787 Seventh Avenue Companion Loans, the related Other Trustee, Other Servicer, Other
Special Servicer and any related sub-servicer, as applicable, and any other Person that makes principal and/or interest advances
in respect of such mortgage loan pursuant to the related Other Pooling and Servicing Agreement.


 


“787 Seventh Avenue Whole
Loan”: The 787 Seventh Avenue Companion Loans, together with the 787 Seventh Avenue Mortgage Loan. References herein
to the 787 Seventh Avenue Whole Loan shall be construed to refer to the aggregate indebtedness under the 787 Seventh Avenue Pari
Passu Note A-1, the 787 Seventh Avenue Pari Passu Note A-2, the 787 Seventh Avenue Pari Passu Note A-3, the 787 Seventh Avenue
Pari Passu Note A-4, the 787 Seventh Avenue Pari Passu Note A-5, the 787 Seventh Avenue Pari Passu Note A-6, the 787 Seventh Avenue
Pari Passu Note A-7, the 787 Seventh Avenue Pari Passu Note A-8 and the 787 Seventh Avenue Subordinate Note B.


 


“7700 Parmer Companion Loans”:
As defined in the Preliminary Statement.


 


“7700 Parmer Mortgage Loan”:
As defined in the Preliminary Statement.


 


“7700 Parmer Pari Passu Note A-1”:
The promissory note designated as Note A-1, which evidences a portion of the 7700 Parmer Whole Loan. The 7700 Parmer Pari Passu
Note A-1 is not included in the Trust Fund and is pari passu in right of payment to the 7700 Parmer Pari Passu Note A-2
and the 7700 Parmer Pari Passu Note A-3, as set forth in the related Intercreditor Agreement. As of the Closing Date, the
7700 Parmer Pari Passu Note A-1 is held by the JPMCC 2015-JP1 Mortgage Trust.


 



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“7700 Parmer Hotel Pari Passu
Note A-2”: The promissory note designated as Note A-2, which evidences a portion of the 7700 Parmer Whole Loan.
The 7700 Parmer Pari Passu Note A-2 is not included in the Trust Fund and is pari passu in right of payment to the 7700
Parmer Pari Passu Note A-1 and the 7700 Parmer Pari Passu Note A-3, as set forth in the related Intercreditor Agreement.
As of the Closing Date, the 7700 Parmer Pari Passu Note A-2 is held by the JPMBB 2016-C1 Mortgage Trust.


 


“7700 Parmer Pari Passu Note A-3”:
The promissory note designated as note A-3, which evidences a portion of the 7700 Parmer Whole Loan. The 7700 Parmer Pari Passu
Note A-3 is included in the Trust and is pari passu in right of payment to the 7700 Parmer Pari Passu Note A-1 and the 7700
Parmer Pari Passu Note A-2, as set forth in the related Intercreditor Agreement. As of the Closing Date, the 7700 Parmer Pari
Passu Note A-3 is a Mortgage Loan.


 


“7700 Parmer Pooling and Servicing
Agreement”: The pooling and servicing agreement, dated as of December 1, 2015 among J.P. Morgan Chase Commercial Mortgage
Securities Corp., as depositor, Wells Fargo Bank, National Association, as master servicer, Midland Loan Services, a Division of
PNC Bank, National Association, as special servicer, Wilmington Trust, National Association, as trustee, Wells Fargo Bank, National
Association, as certificate administrator, paying agent and custodian, Pentalpha Surveillance LLC, as operating advisor, and Pentalpha
Surveillance LLC, as asset representations reviewer, and entered into in connection with the JPMCC 2015-JP1 Mortgage Trust.


 


“7700 Parmer Service Providers”:
With respect to the 7700 Parmer Companion Loans, the related Other Trustee, Other Servicer, Other Special Servicer and any related
sub-servicer, as applicable, and any other Person that makes principal and/or interest advances in respect of such mortgage loan
pursuant to the related Other Pooling and Servicing Agreement.


 


“7700 Parmer Whole Loan”:
The 7700 Parmer Companion Loans, together with the 7700 Parmer Mortgage Loan. References herein to the 7700 Parmer Whole Loan shall
be construed to refer to the aggregate indebtedness under the 7700 Parmer Pari Passu Note A-1, 7700 Parmer Pari Passu Note A-2
and the 7700 Parmer Pari Passu Note A-3.


 


“AB Modified Loan”
Any Corrected Mortgage Loan (1) that became a Corrected Mortgage Loan (which includes for purposes of this definition any Non-Serviced
Mortgage Loan that became a “corrected loan” (or any term substantially similar thereto) pursuant to the related Other
Pooling and Servicing Agreement) due to a modification thereto that resulted in the creation of an A/B note structure (or similar
structure) and as to which the new junior note(s) did not previously exist or the principal amount of the new junior note(s) was
previously part of either an A note held by the Trust or the original unmodified Mortgage Loan and (2) as to which an Appraisal
Reduction Amount is not in effect.


 


“Acceptable Insurance Default”:
With respect to any Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced Whole Loan, any Default arising when the
related Loan Documents require that the related Borrower must maintain standard extended coverage casualty insurance or other insurance
that covers acts of terrorism and the Special Servicer has determined, in accordance with the Servicing Standard and, unless a
Control Termination Event has occurred and is continuing, with the consent of the Directing Holder, that either (i) such insurance
is not available at commercially reasonable rates and the subject hazards are not at the


 



    	-13-



    	 



    

 


time commonly insured against by for properties
similar to the Mortgaged Property and located in or around the geographic region in which such Mortgaged Property is located (but
only by reference to such insurance that has been obtained by such owners at current market rates), or (ii) such insurance
is not available at any rate; provided that the Directing Holder will not have more than 30 days to respond to the
Special Servicer’s request for such consent; provided, further, that upon the Special Servicer’s determination,
consistent with the Servicing Standard, that exigent circumstances do not allow the Special Servicer to consult with the Directing
Holder, the Special Servicer will not be required to do so. In making this determination, the Special Servicer, to the extent consistent
with the Servicing Standard, may rely on the opinion of an insurance consultant.


 


“Act”: The Securities
Act of 1933, as it may be amended from time to time.


 


“Action Notice Response”:
As defined in Section 2.03(l)(i).


 


“Actual/360 Basis”:
The accrual of interest calculated on the basis of the actual number of days elapsed during any calendar month (or other applicable
accrual period) in a year assumed to consist of 360 days.


 


“Actual/360 Loans”:
The Mortgage Loans indicated as such in the Mortgage Loan Schedule and any related Serviced Companion Loan.


 


“Additional Form 10-D Disclosure”:
As defined in Section 10.05(c) of this Agreement.


 


“Additional Form 10-K Disclosure”:
As defined in Section 10.07 of this Agreement.


 


“Additional Servicer”:
Each Affiliate of the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Mortgage Loan Sellers
or the Underwriters (other than an Affiliate of any such party acting in the capacity of a Mortgage Loan Seller Sub-Servicer),
that Services any of the Mortgage Loans, and each Person, other than the Special Servicer, who is not an Affiliate of any of the
Master Servicer, the Certificate Administrator, the Trustee, the Mortgage Loan Sellers or the Underwriters, who Services 10% or
more of the Mortgage Loans (based on their Stated Principal Balance).


 


“Additional Trust Fund Expense”:
Any expense incurred with respect to the Trust Fund and not otherwise included in the calculation of a Realized Loss that would
result in the Holders of Regular Certificates receiving less than the full amount of principal and/or the Interest Accrual Amount
to which they are entitled on any Distribution Date.


 


“Administrative Cost Rate”:
As of any date of determination and with respect to each Mortgage Loan, a per annum rate equal to the sum of the Servicing
Fee Rate, the Certificate Administrator/Trustee Fee Rate, the Operating Advisor Fee Rate and the CREFC® Intellectual
Property Royalty License Fee Rate.


 


“Advance”: Any P&I
Advance or Servicing Advance.


 



    	-14-



    	 



    

 


“Advance Interest Amount”:
Interest at the Reimbursement Rate on the aggregate amount of P&I Advances and Servicing Advances for which the Master Servicer
or the Trustee, as applicable, has not been reimbursed for the number of days from the date on which such Advance was made to the
date of payment or reimbursement of the related Advance or other such amount, less any amount of interest previously paid on such
Advance; provided that if, during any Collection Period in which an Advance was made, the related Borrower makes payment
of an amount in respect of which such Advance was made with interest at the Default Rate, the Advance Interest Amount payable to
the Master Servicer or the Trustee shall be paid first, from the amount of Default Interest on the related Mortgage Loan
(or Whole Loan, with respect to Servicing Advances) actually paid by such Borrower, second, from late payment fees on the
related Mortgage Loan (or Whole Loan, with respect to Servicing Advances) actually paid by the related Borrower, and third,
upon determining in accordance with the Servicing Standard that such Advance Interest Amount is not recoverable from the amounts
described in first or second, from other amounts on deposit in the Collection Account or the Serviced Whole Loan
Collection Account, as applicable.


 


“Adverse REMIC Event”:
Any action, that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) cause either Trust REMIC
to fail to qualify as a REMIC or (ii) result in the imposition of a tax upon any Trust REMIC or the Trust Fund (including
but not limited to the tax on “prohibited transactions” as defined in Section 860F(a)(2) of the Code and the tax
on contributions to a REMIC set forth in Section 860G(d) of the Code, but not including the tax on “net income
from foreclosure property”).


 


“Affiliate”: With
respect to any specified Person, any other Person controlling or controlled by or under common control with such specified Person.
For the purposes of this definition, “control” when used with respect to any specified Person means the power to direct
the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract
or otherwise, and the terms “controlling” and “controlled” have meanings correlative to the foregoing.
The Trustee and the Certificate Administrator may obtain and rely on an Officer’s Certificate of the Master Servicer, the
Special Servicer, the Operating Advisor, the Asset Representations Reviewer or the Depositor to determine whether any Person is
an Affiliate of such party.


 


“Affiliate Ethical Wall”:
Reasonable policies and procedures to be maintained by an Affiliate of the Depositor, the Master Servicer, any Special Servicer,
the Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer or the Trustee, as applicable, taking
into account the nature of its business, to ensure (1) that such Affiliate will not use Confidential Information received
from the Depositor, the Master Servicer, such Special Servicer, the Certificate Administrator, the Operating Advisor, the Asset
Representations Reviewer or the Trustee, as applicable, in a manner that violates any applicable law including, but not limited
to, any securities laws and (2) that such Affiliate will not provide to the Depositor, the Master Servicer, such Special Servicer,
the Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer or the Trustee, as applicable, information
regarding its decisions relating to Investments in the Certificates from such Affiliate. Under such policies and procedures maintained
by such Affiliate, (i) policies and procedures restricting the flow of information exist, and shall be maintained by such
Affiliate, between such Affiliate, on the one hand and the Depositor, the Master Servicer, such Special Servicer, the


 



    	-15-



    	 



    

 


Certificate
Administrator, the Operating Advisor, the Asset Representations Reviewer or the Trustee, as applicable, on the other; (ii) such
policies and procedures restricting the flow of information operate in both directions so as to include (a) policies and procedures
against the disclosure of Confidential Information from the Depositor, the Master Servicer, such Special Servicer, the Certificate
Administrator, the Operating Advisor, the Asset Representations Reviewer or the Trustee, as applicable, to such Affiliate, except
as such disclosure is expressly allowed under this Agreement in such affiliate’s capacity as a Controlling Class Certificateholder
or a Directing Holder or otherwise and (b) policies and procedures restricting the disclosure by such Affiliate of information
regarding its decisions relating to Investments in Certificates to the Depositor, the Master Servicer, such Special Servicer, the
Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer or the Trustee, as applicable; (iii) the
senior management personnel of such Affiliate who have obtained Confidential Information in the course of their exercise of general
managerial responsibilities may not use that information to influence Investment Decisions with respect to the Certificates, nor
may they pass that information to others for use in such activities, to the extent the use of such Confidential Information violates
the securities laws; and (iv) such senior management personnel who have obtained information regarding Investments in the
course of their exercise of general managerial responsibilities may not use that information to influence servicing recommendations.


 


“Affiliated Person”:
Any Person (other than a Rating Agency) involved in the organization or operation of the Depositor or an affiliate, as defined
in Rule 405 of the Act, of such Person.


 


“Affirmative Asset Review
Vote”: As defined in Section 11.04(a).


 


“Agent Member”:
Members of, or Depository Participants in, the Depository.


 


“Agreement”: This
Pooling and Servicing Agreement and all amendments hereof and supplements hereto.


 


“Allocated Loan Amount”:
With respect to each Mortgaged Property, the portion of the principal amount of the related Mortgage Loan allocated to such Mortgaged
Property in the applicable Mortgage, Loan Agreement or the Mortgage Loan Schedule.


 


“A.M. Best”: A.M.
Best Company, or its successor in interest.


 


“Anticipated Termination Date”:
Any Distribution Date on which it is anticipated that the Trust Fund will be terminated pursuant to Section 9.01(c)
of this Agreement.


 


“Applicable Law”:
As defined in Section 8.02(f) of this Agreement.


 


“Applicable Procedures”:
As defined in Section 5.02(c)(ii)(A) of this Agreement.


 


“Applicable State and Local
Tax Law”: For purposes hereof, the Applicable State and Local Tax Law shall be (a) the tax laws of the State of
New York and Illinois and (b) such state or local tax laws whose applicability shall have been brought to the attention of
the Certificate Administrator by either (i) an opinion of counsel delivered to it or (ii) written notice from the appropriate
taxing authority as to the applicability of such state or local tax laws.


 



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“Appraised-Out Class”:
As defined in Section 4.08(b) of this Agreement.


 


“Appraisal”: An
appraisal prepared by an Independent MAI appraiser with at least five years’ experience in properties of like kind and in
the same area.


 


“Appraisal Reduction Amount”:
For any Distribution Date and for any Mortgage Loan (other than a Non-Serviced Mortgage Loan) or any Serviced Whole Loan as to
which an Appraisal Reduction Event has occurred, an amount calculated by the Master Servicer (and, if no Consultation Termination
Event has occurred, in consultation with the Directing Holder, and, if a Control Termination Event has occurred and is continuing,
in consultation with the Operating Advisor to the extent set forth in Section 3.31(f) of this Agreement) as of the
first Determination Date that is at least 10 Business Days following the date the Master Servicer receives from the Special Servicer
the related Appraisal or the Special Servicer’s Small Loan Appraisal Estimate (and thereafter by the first Determination
Date following any material change in the amounts set forth in the following equation) equal to the excess, if any, of (a) the
Stated Principal Balance of such Mortgage Loan or Serviced Whole Loan over (b) the excess of (i) the sum of: (A) 90%
of the appraised value of the related Mortgaged Property as determined (1) by one or more Appraisals obtained by the Special Servicer
with respect to that Mortgage Loan or Serviced Whole Loan with an outstanding principal balance equal to or in excess of $2,000,000
(the costs of which shall be paid by the Master Servicer as a Servicing Advance), minus such downward adjustments as the Special
Servicer may make (without implying any obligation to do so) based upon its review of the Appraisals and any other information
it deems relevant, or (2) by an internal valuation performed by the Special Servicer with respect to any Mortgage Loan or Serviced
Whole Loan with an outstanding principal balance less than $2,000,000, plus (B) all escrows and reserves (other than escrows
and reserves for taxes and insurance), plus (C) all insurance and casualty proceeds and condemnation awards that constitute
collateral for the related Mortgage Loan or Serviced Whole Loan (whether paid or then payable by any insurance company or government
authority), over (ii) the sum as of the Due Date occurring in the month of the date of determination of (without duplication)
(A) to the extent not previously advanced by the Master Servicer or the Trustee, all unpaid interest on such Mortgage Loan
or Serviced Whole Loan at a per annum rate equal to the Mortgage Rate (or with respect to the applicable Serviced Whole
Loan, the weighted average of the Mortgage Rates for the related Mortgage Loan and related Serviced Companion Loans), (B) all
unreimbursed Servicing Advances and the principal portion of all unreimbursed P&I Advances, and all unpaid interest on Advances
at the Reimbursement Rate, in respect of such Mortgage Loan or Serviced Whole Loan, (C) any other unpaid Additional Trust
Fund Expenses in respect of such Mortgage Loan or Serviced Whole Loan (but subject to the provisions of Section 1.02(e)),
(D) all currently due and unpaid real estate taxes, ground rents and assessments and insurance premiums (net of any escrows
or reserves therefor) that have not been the subject of an Advance by the Master Servicer or the Trustee, as applicable, and (E) all
other amounts due and unpaid with respect to such Mortgage Loan or Serviced Whole Loan that, if not paid by the related Borrower,
would result in a shortfall in distributions to the Certificateholders, except for Prepayment Premiums and Yield Maintenance Charges
payable due to an acceleration of such Mortgage Loan or Serviced Whole Loan following a default thereunder; provided, without
limiting the Special Servicer’s obligation to order and obtain such Appraisal, if the Special Servicer has not obtained an
Appraisal, Updated Appraisal or Small Loan Appraisal Estimate, as applicable, referred to above within 60 days of the Appraisal
Reduction Event (or in the case of an Appraisal Reduction Event


 



    	-17-



    	 



    

 


occurring by reason of clause (ii) of the definition
thereof, within 30 days of such Appraisal Reduction Event), the Appraisal Reduction Amount shall be deemed to be an amount
equal to 25% of the current Stated Principal Balance of the related Mortgage Loan or the applicable Serviced Whole Loan until such
time as such Updated Appraisal or Small Loan Appraisal Estimate referred to above is received and the Appraisal Reduction Amount
is recalculated.


 


Notwithstanding anything herein to
the contrary, the aggregate Appraisal Reduction Amount related to a Mortgage Loan (other than a Non-Serviced Mortgage Loan)
or a Serviced Whole Loan or the related REO Property will be reduced to zero as of the date the related Mortgage Loan or Serviced
Whole Loan is paid in full, liquidated, repurchased or otherwise removed from the Trust Fund. In addition, with respect to any
Mortgage Loan (other than a Non-Serviced Mortgage Loan) or a Serviced Whole Loan as to which an Appraisal Reduction Event has occurred,
such Mortgage Loan or Serviced Whole Loan shall no longer be subject to the Appraisal Reduction Amount if (a) such Mortgage
Loan or Serviced Whole Loan has become a Corrected Mortgage Loan (if a Servicing Transfer Event had occurred with respect to the
related Mortgage Loan) and (b) no other Appraisal Reduction Event has occurred and is continuing.


 


Each Serviced Whole Loan will be treated
as a single mortgage loan for purposes of calculating an Appraisal Reduction Amount with respect to the mortgage loans that comprise
such Serviced Whole Loan. Any Appraisal Reduction Amount in respect of a Serviced Whole Loan shall be allocated pro rata,
to the related Mortgage Loan and the related Serviced Pari Passu Companion Loan that is pari passu in right of payment with
such Mortgage Loan, if any.


 


For any Distribution Date and for any
Non-Serviced Mortgage Loan as to which an Appraisal Reduction Event has occurred, the Appraisal Reduction Amount shall be an amount
calculated by the applicable servicer in accordance with and pursuant to the terms of the related Other Pooling and Servicing Agreement.


 


“Appraisal Reduction Event”:
With respect to any Mortgage Loan (other than a Non-Serviced Mortgage Loan) or a Serviced Whole Loan, the earliest of (i) the
date on which such Mortgage Loan or Serviced Whole Loan becomes a Modified Mortgage Loan, (ii) the 90th day following the
occurrence of any uncured Delinquency in Periodic Payments with respect to such Mortgage Loan or Serviced Whole Loan, (iii) receipt
of notice that the related Borrower has filed a bankruptcy petition or the date on which a receiver is appointed and continues
in such capacity in respect of a Mortgaged Property securing such Mortgage Loan or Serviced Whole Loan or the 60th day after the
related Borrower becomes the subject of involuntary bankruptcy proceedings and such proceedings are not dismissed in respect of
a Mortgaged Property securing such Mortgage Loan or Serviced Whole Loan, (iv) the date on which the Mortgaged Property securing
such Mortgage Loan or Serviced Whole Loan becomes a Serviced REO Property and (v) with respect to a Balloon Loan, a payment
default shall have occurred with respect to the related Balloon Payment; provided, if (a) the related Borrower is diligently
seeking a refinancing commitment (and delivers a statement to that effect to the Master Servicer within 30 days after the
default, who shall promptly deliver a copy to the Special Servicer, the Operating Advisor and the Directing Holder (but only if
no Consultation Termination Event has occurred and is continuing)), (b) the related Borrower continues to make its Assumed
Scheduled Payment, (c) no other Appraisal Reduction Event has occurred with respect to such Mortgage Loan or Serviced Whole
Loan and (d) for so long as no Control Termination Event has occurred and is continuing,


 



    	-18-



    	 



    

 


the Directing Holder consents, an Appraisal
Reduction Event will not occur until 60 days beyond the related Maturity Date, unless extended by the Special Servicer in
accordance with the Loan Documents or this Agreement; and provided, further, if the related Borrower has delivered
to the Master Servicer, who shall promptly deliver a copy to the Special Servicer, the Operating Advisor and the Directing Holder
(but only for so long as no Consultation Termination Event has occurred), on or before the 60th day after the related Maturity
Date, a refinancing commitment reasonably acceptable to the Special Servicer, and the Borrower continues to make its Assumed Scheduled
Payments (and no other Appraisal Reduction Event has occurred with respect to such Mortgage Loan or Serviced Whole Loan), an Appraisal
Reduction Event will not occur until the earlier of (1) 120 days beyond the related Maturity Date (or extended maturity
date) and (2) the termination of the refinancing commitment. The Special Servicer shall notify the Master Servicer promptly
upon the occurrence of any of the foregoing events with respect to any Specially Serviced Loan.


 


“Arbitration Rules”:
As defined in Section 2.03(n)(i).


 


“Asset Representations Reviewer”:
Park Bridge Lender Services LLC, or its successor in interest, or any successor Asset Representations Reviewer appointed as herein
provided.


 


“Asset Representations Reviewer
Asset Review Fee”: As defined in Section 11.02(a).


 


“Asset Representations Reviewer
Cap”: As defined in Section 11.02(a).


 


“Asset Representations Reviewer
Surveillance Personnel”: The divisions and individuals of the Asset Representations Reviewer who are involved in the
performance of the duties of the Asset Representations Reviewer under this Agreement.


 


“Asset Representations Reviewer
Termination Event”: As defined in Section 11.05(a).


 


“Asset Review”:
A review of the compliance of each Delinquent Mortgage Loan with certain representations and warranties of the applicable Mortgage
Loan Seller, in accordance with the Asset Review Standard and the procedures set forth on Exhibit JJ hereto.


 


“Asset Review Notice”:
As defined in Section 11.01(b)(i).


 


“Asset Review Quorum”:
In connection with any solicitation of votes to authorize an Asset Review as described in Section 12.01(a), the Certificateholders
evidencing at least 5% of the aggregate Voting Rights represented by all Certificates.


 


“Asset Review Report”:
A report setting forth the results of an Asset Review substantially in the form attached hereto as Exhibit HH.


 


“Asset Review Report Summary”:
As defined in Section 11.01(a)(ix), a summary report setting forth the conclusions of an Asset Review Report substantially
in the form attached hereto as Exhibit II.


 



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“Asset Review Standard”:
The performance of the Asset Representations Reviewer of its duties under this Agreement in good faith subject to the express terms
of this Agreement. All determinations or assumptions made by the Asset Representations Reviewer in connection with an Asset Review
shall be made in the Asset Representations Reviewer’s good faith discretion and judgment based on the facts and circumstances
known to it at the time of such determination or assumption.


 


“Asset Review Trigger”:
Any time that either (1) Mortgage Loans having an aggregate outstanding principal balance of 25.0% or more of the aggregate outstanding
principal balance of all of the Mortgage Loans (including any REO Loans (or a portion of any REO Loan in the case of a Whole Loan))
held by the Trust as of the end of the applicable Collection Period are Delinquent Mortgage Loans or (2)(A) prior to and including
the second anniversary of the Closing Date, at least 10 Mortgage Loans are Delinquent Mortgage Loans as of the end of the
applicable Collection Period and the outstanding principal balance of such Delinquent Mortgage Loans in the aggregate constitutes
at least 15.0% of the aggregate outstanding principal balance of all of the Mortgage Loans (including any REO Loans (or a portion
of any REO Loan in the case of a Whole Loan)) held by the issuing entity as of the end of the applicable Collection Period, or
(B) after the second anniversary of the Closing Date, at least 15 Mortgage Loans are Delinquent Mortgage Loans as of the end of
the applicable Collection Period and the aggregate outstanding principal balance of such Delinquent Mortgage Loans in the aggregate
constitutes at least 20.0% of the aggregate outstanding principal balance of all of the Mortgage Loans (including any REO Loans)
(or a portion of any REO Loan in the case of a Whole Loan) held by the Trust as of the end of the applicable Collection Period.


 


“Asset Review Vote Election”:
As defined in Section 11.01(a).


 


“Asset Status Report”:
As defined in Section 3.23(e) of this Agreement.


 


“Assignment of Leases, Rents
and Profits”: With respect to any Mortgaged Property, any assignment of leases, rents and profits or similar agreement
executed by the Borrower, assigning to the mortgagee all of the income, rents and profits derived from the ownership, operation,
leasing or disposition of all or a portion of such Mortgaged Property, in the form which was duly executed, acknowledged and delivered,
as amended, modified, renewed or extended through the date hereof and from time to time hereafter.


 


“Assignment of Mortgage”:
An assignment of Mortgage without recourse, notice of transfer or equivalent instrument, in recordable form, which is sufficient
under the laws of the jurisdiction in which the related Mortgaged Property is located to reflect of record the sale of the Mortgage,
which assignment, notice of transfer or equivalent instrument may be in the form of one or more blanket assignments covering Mortgages
encumbering Mortgaged Properties located in the same jurisdiction, if permitted by law and acceptable for recording.


 


“Assumed Scheduled Payment”:
For any Collection Period with respect to any Mortgage Loan (including the Non-Serviced Mortgage Loan) that is delinquent in respect
of its Balloon Payment or any REO Loan (excluding, for purposes of any P&I Advances, the portion allocable to any related Companion
Loan), is an amount equal to the sum of (a) the principal portion of the Periodic Payment that would have been due on such
Mortgage Loan or REO Loan on the related Due Date based on the constant Periodic Payment or the original amortization


 



    	-20-



    	 



    

 


schedule
of the Mortgage Loan (as calculated with interest at the related Mortgage Rate) (if any), assuming such Balloon Payment had not
become due, after giving effect to any prior modification, a default or a bankruptcy modification (or similar proceeding), and
(b) interest on the Stated Principal Balance of the Mortgage Loan or REO Loan (excluding, for purposes of any P&I Advances,
the portion allocable to any related Companion Loan) at its Mortgage Rate (net of the related Servicing Fee Rate (other than, in
the case of any Non-Serviced Mortgage Loan, the servicing fee rate pursuant to the related Other Pooling and Servicing Agreement)).


 


“Assumption Fees”:
Any fees (other than assumption application fees) collected by the Master Servicer or the Special Servicer in connection with an
assumption of a Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced Whole Loan or related substitution of a Borrower
(or an interest therein) thereunder (in each case, as permitted or set forth in the related Loan Documents or under the provisions
of this Agreement).


 


“Authenticating Agent”:
Any authenticating agent appointed by the Certificate Administrator pursuant to Section 3.18 of this Agreement.


 


“Available Funds”:
With respect to any Distribution Date, an amount equal to the sum of (without duplication):


 


(a)          the aggregate amount
of all cash received on the Mortgage Loans (in the case of any Non-Serviced Mortgage Loan, only to the extent received by the Trust
pursuant to the related Other Pooling Agreement and/or the related Non-Serviced Intercreditor Agreement) (including the portion
of Loss of Value Payments deposited into the Collection Account pursuant to Section 3.06(e) of this Agreement) and any REO
Property (including Compensating Interest Payments with respect to the Mortgage Loans required to be deposited by the Master Servicer
pursuant to Section 3.17(c)) on deposit in the Collection Account (in each case, exclusive of any amount on deposit in the
Collection Account that is held for the benefit of the Companion Loan Noteholders), as of the Master Servicer Remittance Date,
exclusive of (without duplication):


 


(i)           all Periodic Payments
and Balloon Payments paid by the Borrowers that are due on a Due Date (without regard to grace periods) after the end of the
related Collection Period (without regard to grace periods);


 


(ii)          all unscheduled
payments of principal (including Principal Prepayments (together with any related payments of interest allocable to the period
following the Due Date for the related Mortgage Loan during the related Collection Period)), unscheduled interest, Liquidation
Proceeds, Insurance Proceeds or Condemnation Proceeds and other unscheduled recoveries received subsequent to the related Determination
Date (or, with respect to voluntary prepayments of principal of each Mortgage Loan with a Due Date occurring after the related
Determination Date, subsequent to the related Due Date) allocable to the Mortgage Loans;


 


(iii)         all amounts payable
or reimbursable to any Person from the Collection Account pursuant to clauses (ii) through (xv), inclusive, of Section
3.06(a) of this Agreement;


 



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(iv)         with respect to
each Actual/360 Loan and any Distribution Date in (1) each February and (2) any January occurring in a year
that is not a leap year (unless, in either case, such Distribution Date is the final Distribution Date), an amount equal to one
day of interest on the Stated Principal Balance of such Mortgage Loan as of the close of business on the Distribution Date in the
month preceding the month in which the subject Distribution Date occurs at the related Net Mortgage Rate, to the extent such amounts
are to be deposited in the Interest Reserve Account and held for future distribution pursuant to Section 3.05(e) of this
Agreement;


 


(v)          [reserved];


 


(vi)         all Yield Maintenance
Charges and prepayment premiums;


 


(vii)        all amounts deposited
in the Collection Account or the Lower-Tier Distribution Account, as the case may be, in error; and


 


(viii)       all Penalty Charges
retained in the Collection Account pursuant to Section 3.05(a)(vii) of this Agreement; and


 


(b)          if and to the extent
not already included in clause (a) hereof, the aggregate amount transferred on or before the applicable Determination Date from
the REO Account allocable to the Mortgage Loans to the Collection Account for such Distribution Date pursuant to Section 3.15(b);


 


(c)          P&I Advances
made by the Master Servicer or the Trustee, as applicable, for such Distribution Date (net of the related Certificate Administrator/Trustee
Fee with respect to the Mortgage Loans for which such P&I Advances are made); and


 


(d)          with respect to
each Actual/360 Loan and for the Distribution Date occurring in each March (or February if the final Distribution Date
occurs in such month), the Withheld Amounts remitted to the Lower-Tier Distribution Account pursuant to Section 3.05(e)
of this Agreement.


 


Notwithstanding the investment of funds held in the Collection
Account or the Lower-Tier Distribution Account pursuant to Section 3.07 of this Agreement, for purposes of calculating the
Available Funds, the amounts so invested shall be deemed to remain on deposit in such account.


 


“Balloon Loan”:
Any Mortgage Loan or Serviced Whole Loan that requires a payment of principal on the maturity date in excess of its constant Periodic
Payment.


 


“Balloon Payment”:
With respect to each Balloon Loan, the scheduled payment of principal due on the Maturity Date (less principal included in the
applicable amortization schedule or scheduled Periodic Payment).


 


“Base Interest Fraction”:
With respect to any Principal Prepayment on any Mortgage Loan and any of the Class A-1, Class A-2, Class A-SB, Class A-3A, Class
A-3B, Class A-4, Class A-M, Class B, Class C and Class D Certificates, a fraction (not greater than


 



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one) (a) whose numerator
is the greater of zero and the amount, if any, by which (i) the Pass-Through Rate on such Class of Certificates exceeds (ii) the
yield rate (as provided by the Master Servicer) used in calculating the Prepayment Premium or Yield Maintenance Charge, as applicable,
with respect to such Principal Prepayment and (b) whose denominator is the amount, if any, by which (i) the Mortgage
Rate on such Mortgage Loan exceeds (ii) the yield rate (as provided by the Master Servicer) used in calculating the Prepayment
Premium or Yield Maintenance Charge, as applicable, with respect to such Principal Prepayment; provided that if such yield
rate is greater than or equal to the Mortgage Rate on such Mortgage Loan, then the Base Interest Fraction shall be zero; provided,
further, that if such yield rate is greater than or equal to the Mortgage Rate on such Mortgage Loan, but less than the
Pass-Through Rate described in clause (a)(i) above, then the Base Interest Fraction shall be one.


 


To the extent that the “yield
rate” referred to in the immediately preceding paragraph to be provided by the Master Servicer is not provided in the related
Loan Documents, such “yield rate” shall be, when compounded monthly, equivalent to the yield, on the U.S. Treasury
primary issue with a maturity date closest to the Maturity Date for the prepaid Mortgage Loan. In the event that there are: (a) two
or more U.S. Treasury issues with the same coupon the issue with the lower yield shall be selected and (b) two or more U.S.
Treasury issues with maturity dates equally close to the Maturity Date for such prepaid Mortgage Loan, the issue with the earlier
maturity date shall be selected.


 


“Bid Allocation”:
With respect to the Master Servicer and each Sub-Servicer therefor and the proceeds of any bid pursuant to Section 7.01(a)
of this Agreement, the amount of such proceeds (net of any expenses incurred in connection with such bid and the transfer of servicing),
multiplied by a fraction equal to (a) the Servicing Fee Amount for the Master Servicer or such Sub-Servicer therefor, as the
case may be, as of such date of determination, over (b) the aggregate of the Servicing Fee Amounts for the Master Servicer
and all Sub-Servicers therefor as of such date of determination.


 


“Book-Entry Certificate”
shall mean any Certificate registered in the name of the Depository or its nominee.


 


“Borrower”: With
respect to any Mortgage Loan, Companion Loan or Serviced Whole Loan, any obligor or obligors on any related Mortgage Note or Mortgage
Notes, including in connection with a Mortgage Loan, Companion Loan or Serviced Whole Loan that utilizes an indemnity deed of trust
(“IDOT”) structure, the borrower and the Mortgaged Property owner / payment guarantor / mortgagor, individually
and collectively, as the context may require.


 


“Borrower Accounts”:
As defined in Section 3.07(a) of this Agreement.


 


“Borrower Party”:
A borrower, a mortgagor, a manager of a Mortgaged Property, Restricted Mezzanine Holder or any Borrower Party Affiliate.


 


“Borrower Party Affiliate”:
With respect to a borrower, a mortgagor, a manager of a Mortgaged Property or a Restricted Mezzanine Holder, (a) any other person
controlling or controlled by or under common control with such borrower, mortgagor, manager or Restricted Mezzanine Holder, as
applicable, (b) solely with respect to the 10 largest Mortgage Loans by Stated Principal Balance, any other person owning, directly
or indirectly, 25% or more of the


 



    	-23-



    	 



    

 


beneficial interests in such borrower, mortgagor or manager, as applicable, or (c) any other
person owning, directly or indirectly, 25% or more of the beneficial interests in such Restricted Mezzanine Holder. For the purposes
of this definition, “control” when used with respect to any specified person means the power to direct the management
and policies of such person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise
and the terms “controlling” and “controlled” have meanings correlative to the foregoing.


 


“Breach”: As defined
in Section 2.03(e) of this Agreement.


 


“Business Day”:
Any day other than (i) a Saturday or a Sunday, (ii) a legal holiday in New York, New York or the principal cities in
which the Master Servicer, the Special Servicer, the Operating Advisor, the Asset Representations Reviewer, the Trustee or the
Certificate Administrator conduct servicing, trust administration or surveillance operations or (iii) a day on which the Federal
Reserve Bank of New York or banking institutions or savings associations in New York, New York, Charlotte, North Carolina, Oakland,
California, Kansas City, Pittsburgh, Pennsylvania, Overland Park, Kansas, Missouri, Minneapolis, Minnesota, Wilmington, Delaware
or Columbia, Maryland, or the principal cities in which the Master Servicer, the Special Servicer, the Operating Advisor, the Asset
Representations Reviewer, the Trustee or the Certificate Administrator conduct servicing, trust administration or surveillance
operations are authorized or obligated by law or executive order to be closed.


 


“Calculation Rate”:
A discount rate appropriate for the type of cash flows being discounted, namely (i) for principal and interest payment on
the Mortgage Loan or Serviced Companion Loan or sale of a Defaulted Loan, the highest of (1) the rate determined by the Master
Servicer or Special Servicer, as applicable, that approximates the market rate that would be obtainable by the Borrowers on similar
non-defaulted debt of the Borrowers as of such date of determination, (2) the applicable Mortgage Rate and (3) the yield
on 10-year U.S. treasuries as of such date of determination and (ii) for all other cash flows, including property cash flow,
the “discount rate” set forth in the most recent related Appraisal (or Updated Appraisal).


 


“Cash Collateral Account”:
With respect to any Mortgage Loan or Serviced Whole Loan that has a Lock-Box Account, any account or accounts created pursuant
to the related Mortgage, Loan Agreement, Cash Collateral Account Agreement or other Loan Document into which the Lock-Box Account
monies are swept on a regular basis for the benefit of the Trustee, on behalf of the Certificateholders, as successor to the related
Mortgage Loan Seller. Any Cash Collateral Account shall be beneficially owned for federal income tax purposes by the Person who
is entitled to receive all reinvestment income or gain thereon in accordance with the terms and provisions of the related Loan
Documents and Section 3.07 of this Agreement, which Person shall be taxed on all reinvestment income or gain thereon
in accordance with the terms of the related Mortgage Loan or Serviced Whole Loan. The Master Servicer shall be permitted to make
withdrawals therefrom for deposit into the Collection Account or the applicable Serviced Whole Loan Collection Account, as applicable.
To the extent not inconsistent with the terms of the related Loan Documents, each such Cash Collateral Account shall be an Eligible
Account.


 


“Cash Collateral Account Agreement”:
With respect to any Mortgage Loan or Serviced Whole Loan, the cash collateral account agreement, if any, between the related


 



    	-24-



    	 



    

 


Originator
and the related Borrower, pursuant to which the related Cash Collateral Account, if any, may have been established.


 


“Certificate”: Any
Class A-1, Class A-2, Class A-SB, Class A-3A, Class A-3B, Class A-4, Class X-A, Class X-B, Class X-C, Class X-D, Class X-E, Class
X-F, Class A-M, Class B, Class C, Class D, Class E, Class F, Class G, Class H or Class R Certificate issued, authenticated and
delivered hereunder.


 


“Certificate Administrator”:
Wells Fargo Bank, National Association, a national banking association, in its capacity as Certificate Administrator, or its successor
in interest, or any successor Certificate Administrator appointed as herein provided. Wells Fargo Bank, National Association will
perform its obligations as Certificate Administrator hereunder through its Corporate Trust Services division.


 


“Certificate Administrator
Personnel”: The divisions and individuals of the Certificate Administrator who are involved in the performance of the
duties of the Certificate Administrator under this Agreement.


 


“Certificate Administrator/Trustee
Fee”: With respect to each Mortgage Loan and for any Distribution Date, an amount per Interest Accrual Period equal to
the product of (i) the Certificate Administrator/Trustee Fee Rate (adjusted to a monthly rate) multiplied by (ii) the
Stated Principal Balance of such Mortgage Loan as of the Due Date in the immediately preceding Collection Period (without giving
effect to payments of principal on such Mortgage Loan on such Due Date). The Certificate Administrator/Trustee Fee shall be calculated
in accordance with the provisions of Section 1.02(a) of this Agreement. For the avoidance of doubt, the Certificate
Administrator/Trustee Fee with respect to each Mortgage Loan shall be payable from the Lower-Tier REMIC.


 


“Certificate Administrator/Trustee
Fee Rate”: A rate equal to 0.0073% per annum.


 


“Certificate Administrator’s
Website”: The internet website of the Certificate Administrator, initially located at www.ctslink.com.


 


“Certificate Balance”:
With respect to any Class of Sequential Pay Certificates (a) on or prior to the first Distribution Date, an amount equal to
the aggregate initial Certificate Balance of such Class, as specified in the Preliminary Statement to this Agreement and (b) as
of any date of determination after the first Distribution Date, the Certificate Balance of such Class on the Distribution Date
immediately prior to such date of determination less any distributions allocable to principal and any allocations of Realized Losses
made thereon on such prior Distribution Date.


 


“Certificate Custodian”:
Initially, the Certificate Administrator; thereafter, any other Certificate Custodian acceptable to the Depository and selected
by the Certificate Administrator.


 


“Certificate Owner”:
With respect to a Global Certificate, the Person who is the beneficial owner of such Certificate as reflected on the books of the
Depository or on the books


 



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of a Person maintaining an account with such Depository (directly as a Depository Participant or indirectly
through a Depository Participant, in accordance with the rules of such Depository) with respect to such Classes. Each of the Trustee,
the Certificate Administrator and the Master Servicer shall have the right to require, as a condition to acknowledging the status
of any Person as a Certificate Owner under this Agreement, that such Person execute an Investor Certification.


 


“Certificate Register”
and “Certificate Registrar”: The register maintained and the registrar appointed pursuant to Section 5.02
of this Agreement.


 


“Certificateholder”:
The Person in whose name a Certificate is registered in the Certificate Register; provided, however, that solely
for the purposes of giving any consent, approval, waiver or taking any action pursuant to this Agreement, any Certificate registered
in the name of or beneficially owned by (i) the Master Servicer, the Special Servicer, any Excluded Special Servicer, the Trustee,
the Certificate Administrator, the Depositor, any Mortgage Loan Seller or any Affiliate of any of such Persons or (ii) any Borrower
Party, in each case shall be deemed not to be outstanding (provided that notwithstanding the foregoing, any Controlling
Class Certificates owned by an Excluded Controlling Class Holder shall not be deemed to be outstanding as to such Excluded Controlling
Class Holder solely with respect to any related Excluded Controlling Class Loan; and provided, further, that any
Controlling Class Certificates owned by the Special Servicer or an Affiliate thereof shall not be deemed to be outstanding as to
the Special Servicer or such Affiliate solely with respect to any related Excluded Special Servicer Loan), and the Voting Rights
to which it is entitled shall not be taken into account in determining whether the requisite percentage of Voting Rights necessary
to effect any such consent, approval, waiver or take any such action has been obtained; provided, however, that the
foregoing restrictions shall not apply in the case of the Master Servicer, the Special Servicer, any Excluded Special Servicer,
the Trustee, the Certificate Administrator, the Depositor, any Mortgage Loan Seller or any Affiliate of any of such Persons unless
such consent, approval or waiver sought from such party would in any way increase its compensation or limit its obligations in
the named capacities hereunder or waive a Servicer Termination Event or trigger an Asset Review with respect to such Mortgage Loan;
provided, further that so long as there is no Servicer Termination Event with respect to the Master Servicer or the
Special Servicer, the Master Servicer and the Special Servicer or such Affiliate of either shall be entitled to exercise such Voting
Rights with respect to any issue which could reasonably be believed to adversely affect such party’s compensation or increase
its obligations or liabilities hereunder; and provided, further that such restrictions shall not apply to (i) the
exercise of the Special Servicer’s, the Master Servicer’s or any Mortgage Loan Seller’s rights, if any, or any
of their Affiliates as a member of the Controlling Class or (ii) any Affiliate of the Depositor, the Master Servicer, any
Special Servicer, the Trustee or the Certificate Administrator that has provided an Investor Certification in which it has certified
as to the existence of an Affiliate Ethical Wall between it and the Depositor, the Master Servicer, such Special Servicer, the
Trustee or the Certificate Administrator, as applicable, and any Certificates beneficially owned by such Affiliate shall be deemed
to be outstanding. The Trustee and the Certificate Administrator shall each be entitled to request and rely upon a certificate
of the Master Servicer, the Special Servicer or the Depositor in determining whether a Certificate is registered in the name of
an Affiliate of such Person. All references herein to “Holders” or “Certificateholders” shall reflect the
rights of Certificate Owners as they may indirectly exercise such rights through the Depository and the Depository Participants,
except as otherwise specified herein; provided, however, that the parties hereto shall


 



    	-26-



    	 



    

 


be required to recognize as
a “Holder” or “Certificateholder” only the Person in whose name a Certificate is registered in the Certificate
Register.


 


“Certificateholder Quorum”:
In connection with any solicitation of votes in connection with the replacement of the Special Servicer pursuant to Section 3.22(d)
of this Agreement or the Asset Representations Reviewer pursuant to Section 11.05(b) of this Agreement, the holders of Sequential
Pay Certificates evidencing at least 50% of the aggregate Voting Rights (taking into account the application of any Appraisal Reduction
Amounts to notionally reduce the Certificate Balances of the Certificates pursuant to Section 4.08 of this Agreement,
except in the case of the termination of the Asset Representations Reviewer pursuant to Section 11.05(b) of this Agreement)
of all Sequential Pay Certificates on an aggregate basis.


 


“Certification Parties”:
As defined in Section 10.08 of this Agreement.


 


“Certifying Certificateholder”:
A Certificateholder or Certificate Owner of a Certificate that has provided the Certificate Administrator with an executed Investor
Certification.


 


“Certifying Person”:
As defined in Section 10.08 of this Agreement.


 


“Certifying Servicer”:
As defined in Section 10.11 of this Agreement.


 


“Class”: All of
the Certificates that collectively bear the same alphabetical or alphanumeric Class designation and each Lower-Tier Regular Interest.


 


“Class A-1 Certificate”:
Any one of the Certificates with a “Class A-1” designation on the face thereof, executed and authenticated by
the Certificate Administrator or the Authenticating Agent on behalf of the Depositor in substantially the form of the Exhibit
set forth next to such Class in the Table of Exhibits of this Agreement.


 


“Class A-1 Pass-Through
Rate”: A per annum rate equal to 1.676%.


 


“Class A-2 Certificate”:
Any one of the Certificates with a “Class A-2” designation on the face thereof, executed and authenticated by
the Certificate Administrator or the Authenticating Agent on behalf of the Depositor in substantially the form of the Exhibit
set forth next to such Class in the Table of Exhibits of this Agreement.


 


“Class A-2 Pass-Through
Rate”: A per annum rate equal to 2.691%.


 


“Class A-3A Certificate”:
Any one of the Certificates with a “Class A-3A” designation on the face thereof, executed and authenticated by
the Certificate Administrator or the Authenticating Agent on behalf of the Depositor in substantially the form of the Exhibit
set forth next to such Class in the Table of Exhibits of this Agreement.


 


“Class A-3A Pass-Through
Rate”: A per annum rate equal to 3.015%.


 


“Class A-3B Certificate”:
Any one of the Certificates with a “Class A-3B” designation on the face thereof, executed and authenticated by
the Certificate Administrator or


 



    	-27-



    	 



    

 


the Authenticating Agent on behalf of the Depositor in substantially the form of the Exhibit
set forth next to such Class in the Table of Exhibits of this Agreement.


 


“Class A-3B Pass-Through
Rate”: A per annum rate equal to 3.015%.


 


“Class A-4 Certificate”:
Any one of the Certificates with a “Class A-4” designation on the face thereof, executed and authenticated by
the Certificate Administrator or the Authenticating Agent on behalf of the Depositor in substantially the form of the Exhibit
set forth next to such Class in the Table of Exhibits of this Agreement.


 


“Class A-4 Pass-Through
Rate”: A per annum rate equal to 3.276%.


 


“Class A-M Certificate”:
Any one of the Certificates with a “Class A-M” designation on the face thereof, executed and authenticated by
the Certificate Administrator or the Authenticating Agent on behalf of the Depositor in substantially the form of the Exhibit
set forth next to such Class in the Table of Exhibits of this Agreement.


 


“Class A-M Pass-Through
Rate”: A per annum rate equal to 3.539%.


 


“Class A-SB Certificate”:
Any one of the Certificates with a “Class A-SB” designation on the face thereof, executed and authenticated by
the Certificate Administrator or the Authenticating Agent on behalf of the Depositor in substantially the form of the Exhibit
set forth next to such Class in the Table of Exhibits of this Agreement.


 


“Class A-SB Pass-Through
Rate”: A per annum rate equal to 3.038%.


 


“Class A-SB Planned Principal
Balance”: With respect to any Distribution Date, the planned principal amount for such Distribution Date specified in
Schedule III hereto relating to the Class A-SB Certificates.


 


“Class B Certificate”:
Any one of the Certificates with a “Class B” designation on the face thereof, executed and authenticated by the
Certificate Administrator or the Authenticating Agent on behalf of the Depositor in substantially the form of the Exhibit
set forth next to such Class in the Table of Exhibits of this Agreement.


 


“Class B Pass-Through
Rate”: A per annum rate equal to the lesser of (1) the WAC Rate, and (ii) 4.195%.


 


“Class C Certificate”:
Any one of the Certificates with a “Class C” designation on the face thereof, executed and authenticated by the
Certificate Administrator or the Authenticating Agent on behalf of the Depositor in substantially the form of the Exhibit
set forth next to such Class in the Table of Exhibits of this Agreement.


 


“Class C Pass-Through
Rate”: A per annum rate equal to the Weighted Average Net Mortgage Pass-Through Rate minus 1.250%.


 


“Class D Certificate”:
Any one of the Certificates with a “Class D” designation on the face thereof, executed and authenticated by the
Certificate Administrator or the


 



    	-28-



    	 



    

 


Authenticating Agent on behalf of the Depositor in substantially the form of the Exhibit
set forth next to such Class in the Table of Exhibits of this Agreement.


 


“Class D Pass-Through
Rate”: A per annum rate equal to the Weighted Average Net Mortgage Pass-Through Rate minus 1.250%.


 


“Class E Certificate”:
Any one of the Certificates with a “Class E” designation on the face thereof, executed and authenticated by the
Certificate Administrator or the Authenticating Agent on behalf of the Depositor in substantially the form of the Exhibit
set forth next to such Class in the Table of Exhibits of this Agreement.


 


“Class E Pass-Through
Rate”: A per annum rate equal to 3.250%.


 


“Class F Certificate”:
Any one of the Certificates with a “Class F” designation on the face thereof, executed and authenticated by the
Certificate Administrator or the Authenticating Agent on behalf of the Depositor in substantially the form of the Exhibit
set forth next to such Class in the Table of Exhibits of this Agreement.


 


“Class F Pass-Through
Rate”: A per annum rate equal to 3.250%.


 


“Class G Certificate”:
Any one of the Certificates with a “Class G” designation on the face thereof, executed and authenticated by the
Certificate Administrator or the Authenticating Agent on behalf of the Depositor in substantially the form of the Exhibit
set forth next to such Class in the Table of Exhibits of this Agreement.


 


“Class G Pass-Through
Rate”: A per annum rate equal to 3.250%.


 


“Class H Certificate”:
Any one of the Certificates with a “Class H” designation on the face thereof, executed and authenticated by the
Certificate Administrator or the Authenticating Agent on behalf of the Depositor in substantially the form of the Exhibit
set forth next to such Class in the Table of Exhibits of this Agreement.


 


“Class H Pass-Through
Rate”: A per annum rate equal to 3.250%.


 


“Class LA-1 Interest,”
“Class LA-2 Interest,” “Class LA-3A Interest,” “Class LA-3B Interest,”
“Class LA-SB Interest,” “Class LA-4 Interest,” “Class LA-M Interest,”
“Class LB Interest,” “Class LC Interest,” “Class LD Interest,” “Class
LE Interest,” “Class LF Interest”, “Class LG Interest” and “Class LH Interest”:
Each, a regular interest in the Lower-Tier REMIC entitled to monthly distributions payable thereto pursuant to Section 4.01
of this Agreement.


 


“Class LTR Interest”:
The sole class of “residual interest” in the Lower-Tier REMIC, which will be represented by the Class R Certificates.


 


“Class R Certificate”:
Any one of the Certificates with a “Class R” designation on the face thereof, executed and authenticated by the Certificate
Administrator or the Authenticating Agent on behalf of the Depositor in substantially the form of the Exhibit set forth
next to such Class in the Table of Exhibits of this Agreement. The Class R Certificates have no Pass-Through Rate,
Certificate Balance or Notional Amount.


 



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“Class UTR Interest”:
The sole class of “residual interest” in the Upper-Tier REMIC, which will be represented by the Class R Certificate.


 


“Class X Certificates”:
The Class X-A, Class X-B, Class X-C, Class X-D, Class X-E and Class X-F Certificates, collectively.


 


“Class X Component”:
Each of the Class X-A Components, Class X-B Components, Class X-C Component, Class X-D Component, Class X-E
Components and Class X-F Component.


 


“Class X Component Notional
Amount”: With respect to each Class X Component and any date of determination, an amount equal to the then Lower-Tier
Principal Balance of its Corresponding Lower-Tier Regular Interest.


 


“Class X Notional Amount”:
The Class X-A Notional Amount, the Class X-B Notional Amount, the Class X-C Notional Amount, the Class X-D Notional
Amount, the Class X-E Notional Amount or the Class X-F Notional Amount, as applicable and as the context may require.


 


“Class X-A Certificate”:
Any one of the Certificates with a “Class X-A” designation on the face thereof, executed and authenticated by
the Certificate Administrator or the Authenticating Agent on behalf of the Depositor in substantially the form of the Exhibit
set forth next to such Class in the Table of Exhibits of this Agreement.


 


“Class X-A Components”:
Each of Component XA-1, Component XA-2, Component XA-SB, Component XA-3A, Component XA-3B, Component XA-4 and Component
XA-M.


 


“Class X-A Notional Amount”:
As of any date of determination, the sum of the then Class X Component Notional Amounts of all of the Class X-A Components.


 


“Class X-A Pass-Through
Rate”: With respect to any Distribution Date, the weighted average of the Class X-A Strip Rates for the respective
Class X-A Components for such Distribution Date, weighted on the basis of the respective Class X Component Notional Amounts
of such Components outstanding immediately prior to such Distribution Date. The Class X-A Pass-Through Rate for the initial
Distribution Date is 1.5096526099982% per annum.


 


“Class X-A Strip Rate”:
With respect to any Class of Class X-A Components for any Distribution Date, the (i) the Weighted Average Net Mortgage Pass
Through Rate for such Distribution Date over (ii) the Pass-Through Rate for the Corresponding Certificates.


 


“Class X-B Certificate”:
Any one of the Certificates with a “Class X-B” designation on the face thereof, executed and authenticated by
the Certificate Administrator or the Authenticating Agent on behalf of the Depositor in substantially the form of the Exhibit
set forth next to such Class in the Table of Exhibits of this Agreement.


 


“Class X-B Components”:
Each of the Component XB and Component XC.


 



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“Class X-B Notional Amount”:
As of any date of determination, the sum of the then Class X Component Notional Amounts of all of the Class X-B Components.


 


“Class X-B Pass-Through
Rate”: With respect to any Distribution Date, the weighted average of the Class X-B Strip Rates for the respective
Class X-B Components for such Distribution Date, weighted on the basis of the respective Class X Component Notional Amounts
of such Components outstanding immediately prior to such Distribution Date. The Class X-B Pass-Through Rate for the initial
Distribution Date is 0.758444392843182% per annum.


 


“Class X-B Strip Rate”:
With respect to any Class of Class X-B Components for any Distribution Date, the (i) the WAC Rate for such Distribution
Date over (ii) the Pass-Through Rate for the Corresponding Certificates.


 


“Class X-C Certificate”:
Any one of the Certificates with a “Class X-C” designation on the face thereof, executed and authenticated by
the Certificate Administrator or the Authenticating Agent on behalf of the Depositor in substantially the form of the Exhibit
set forth next to such Class in the Table of Exhibits of this Agreement.


 


“Class X-C Component”:
The Component XD.


 


“Class X-C Notional Amount”:
As of any date of determination, the sum of the then Class X Component Notional Amounts of all of the Class X-C Components.


 


“Class X-C Pass-Through
Rate”: With respect to any Distribution Date, the Class X-C Strip Rate for the Class X-C Component for such
Distribution Date. The Class X-C Pass-Through Rate for the initial Distribution Date is 1.250% per annum.


 


“Class X-C Strip Rate”:
With respect to any Class of Class X-C Components for any Distribution Date, the (i) the WAC Rate for such Distribution
Date over (ii) the Pass-Through Rate for the Corresponding Certificates.


 


“Class X-D Certificate”:
Any one of the Certificates with a “Class X-D” designation on the face thereof, executed and authenticated by
the Certificate Administrator or the Authenticating Agent on behalf of the Depositor in substantially the form of the Exhibit
set forth next to such Class in the Table of Exhibits of this Agreement.


 


“Class X-D Component”:
The Component XE.


 


“Class X-D Notional Amount”:
As of any date of determination, the then Class X Component Notional Amount of the Class X-D Component.


 


“Class X-D Pass-Through
Rate”: With respect to any Distribution Date, the Class X-D Strip Rate for the Class X-D Component for such
Distribution Date. The Class X-D Pass-Through Rate for the initial Distribution Date is 1.3523360478769% per annum.


 


“Class X-D Strip Rate”:
With respect to the Class X-D Component for any Distribution Date, the (i) the WAC Rate for such Distribution Date over
(ii) the Pass-Through Rate for the Corresponding Certificates.


 



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“Class X-E Certificate”:
Any one of the Certificates with a “Class X-E” designation on the face thereof, executed and authenticated by
the Certificate Administrator or the Authenticating Agent on behalf of the Depositor in substantially the form of the Exhibit
set forth next to such Class in the Table of Exhibits of this Agreement.


 


“Class X-E Components”:
Each of the Component XF and Component XG.


 


“Class X-E Notional Amount”:
As of any date of determination, the then Class X Component Notional Amount of the Class X-E Component.


 


“Class X-E Pass-Through
Rate”: With respect to any Distribution Date, the weighted average of the Class X-E Strip Rates for the respective
Class X-E Components for such Distribution Date weighted on the basis of the respective Class X Component Notional Amounts
of such Components outstanding immediately prior to such Distribution Date. The Class X-E Pass-Through Rate for the initial
Distribution Date is 1.3523360478769% per annum.


 


“Class X-E Strip Rate”:
With respect to any Class of Class X-E Components for any Distribution Date, the (i) the WAC Rate for such Distribution
Date over (ii) the Pass-Through Rate for the Corresponding Certificates.


 


“Class X-F Certificate”:
Any one of the Certificates with a “Class X-F” designation on the face thereof, executed and authenticated by
the Certificate Administrator or the Authenticating Agent on behalf of the Depositor in substantially the form of the Exhibit
set forth next to such Class in the Table of Exhibits of this Agreement.


 


“Class X-F Component”:
The Component XH.


 


“Class X-F Notional Amount”:
As of any date of determination, the then Class X Component Notional Amount of the Class X-F Component.


 


“Class X-F Pass-Through
Rate”: With respect to any Distribution Date, the Class X-F Strip Rate for the Class X-F Component for such
Distribution Date. The Class X-F Pass-Through Rate for the initial Distribution Date is 1.3523360478769% per annum.


 


“Class X-F Strip Rate”:
With respect to the Class of Class X-F Component for any Distribution Date, the (i) the WAC Rate for such Distribution
Date over (ii) the Pass-Through Rate for the Corresponding Certificates.


 


“Clearstream”: Clearstream
Banking Luxembourg, a division of Clearstream International, société anonyme.


 


“Closing Date”:
April 19, 2016.


 


“Code”: The Internal
Revenue Code of 1986, as amended from time to time, any successor statute thereto, and any temporary or final regulations of the
United States Department of the Treasury promulgated pursuant thereto.


 


“Collateral Deficiency Amount”
With respect to any AB Modified Loan as of any date of determination, the excess of (i) the Stated Principal Balance of such AB
Modified


 



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Loan (taking into account the related junior note(s) included therein), over (ii) the sum of (in the case of a Whole Loan,
solely to the extent allocable to the subject Mortgage Loan) (x) the most recent appraised value for the related Mortgaged Property
or Mortgaged Properties, plus (y) solely to the extent not reflected or taken into account in such appraised value and to the extent
on deposit with, or otherwise under the control of, the lender as of the date of such determination, any capital or additional
collateral contributed by the related Borrower at the time the Mortgage Loan became (and as part of the modification related to)
such AB Modified Loan for the benefit of the related Mortgaged Property or Mortgaged Properties (provided, that in the case of
a Non-Serviced Mortgage Loan, the amounts set forth in this clause (y) will be taken into account solely to the extent relevant
information is received by the Master Servicer), plus (z) any other escrows or reserves (in addition to any amounts set forth in
the immediately preceding clause (y)) held by the lender in respect of such AB Modified Loan as of the date of such determination.
The Certificate Administrator shall be entitled to conclusively rely on the Master Servicer’s calculation or determination
of any Collateral Deficiency Amount.


 


“Collection Account”:
The trust account or accounts created and maintained by the Master Servicer pursuant to Section 3.05(a) of this Agreement,
which shall be entitled “Wells Fargo Bank, National Association, as Master Servicer, on behalf of Wilmington Trust, National
Association, as Trustee, for the benefit of the Holders of Deutsche Mortgage & Asset Receiving Corporation, DBJPM 2016-C1 Mortgage
Trust Commercial Mortgage Pass-Through Certificates, Series 2016-C1 Collection Account” and which must be an Eligible Account.


 


“Collection Period”:
With respect to any Distribution Date and each Mortgage Loan (including any Companion Loan), the period that begins on the day
immediately following the Due Date for such Mortgage Loan (including any Companion Loan) in the month preceding the month in which
that Distribution Date occurs or the date that would have been the Due Date if such Mortgage Loan (including any Companion Loan)
had a Due Date in such preceding month and ending on and including the Due Date for such Mortgage Loan (including any related Companion
Loan) occurring in the month in which that Distribution Date occurs. Notwithstanding the foregoing, in the event that the last
day of a Collection Period (or applicable grace period) is not a business day, any Periodic Payments received with respect to Mortgage
Loans (including any Companion Loan) relating to such Collection Period on the business day immediately following such day shall
be deemed to have been received during such Collection Period and not during any other Collection Period.


 


“Columbus Park Crossing Companion
Loan”: As defined in the Preliminary Statement.


 


“Columbus Park Crossing Mortgage
Loan”: As defined in the Preliminary Statement.


 


“Columbus Park Crossing Pari
Passu Note A-1”: The promissory note designated as Note A-1, which evidences a portion of the Columbus Park Crossing
Whole Loan. The Columbus Park Crossing Pari Passu Note A-1 is not included in the Trust Fund and is pari passu in right
of payment to the Columbus Park Crossing Pari Passu Note A-2, as set forth in the related Intercreditor Agreement. As of the
Closing Date, the Columbus Park Crossing Pari Passu Note A-1 is held by the COMM 2016-DC2 Mortgage Trust.


 



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“Columbus Park Crossing Pari
Passu Note A-2”: The promissory note designated as note A-2, which evidences a portion of the Columbus Park Crossing
Whole Loan. The Columbus Park Crossing Pari Passu Note A-2 is included in the Trust and is pari passu in right of payment
to the Columbus Park Crossing Pari Passu Note A-1, as set forth in the related Intercreditor Agreement. As of the Closing Date,
the Columbus Park Crossing Pari Passu Note A-2 is a Mortgage Loan.


 


“Columbus Park Crossing Pooling
and Servicing Agreement”: The pooling and servicing agreement, dated as of March 1, 2016 among Deutsche Mortgage &
Asset Receiving Corporation, as depositor, Wells Fargo Bank, National Association, as master servicer, CWCapital Asset Management
LLC, as special servicer, Wilmington Trust, National Association, as trustee, Deutsche Bank Trust Company Americas, as certificate
administrator, paying agent and custodian, Park Bridge Lender Services LLC, as operating advisor, and Park Bridge Lender Services
LLC, as asset representations reviewer, and entered into in connection with the COMM 2016-DC2 Mortgage Trust.


 


“Columbus Park Crossing Service
Providers”: With respect to the Columbus Park Crossing Companion Loan, the related Other Trustee, Other Servicer, Other
Special Servicer and any related sub-servicer, as applicable, and any other Person that makes principal and/or interest advances
in respect of such mortgage loan pursuant to the related Other Pooling and Servicing Agreement.


 


“Columbus Park Crossing Whole
Loan”: The Columbus Park Crossing Companion Loan, together with the Columbus Park Crossing Mortgage Loan. References
herein to the Columbus Park Crossing Whole Loan shall be construed to refer to the aggregate indebtedness under the Columbus Park
Crossing Pari Passu Note A-1 and the Columbus Park Crossing Pari Passu Note A-2.


 


“Commission”: The
Securities and Exchange Commission.


 


“Communication Request”:
As defined in Section 5.05(a) of this Agreement.


 


“Companion Loan”:
A Serviced Companion Loan or Non-Serviced Companion Loan, as applicable and as the context may require.


 


“Companion Loan Noteholder”:
A holder of a Companion Loan.


 


“Compensating Interest Payment”:
An amount as of any Distribution Date equal to the lesser of (i) the aggregate amount of Prepayment Interest Shortfalls incurred
in connection with voluntary Principal Prepayments received in respect of the Mortgage Loans or Serviced Pari Passu Companion Loans
(in each case, other than (a) a Non-Serviced Mortgage Loan, (b) a Specially Serviced Loan or (c) a Mortgage Loan or Serviced
Companion Loan with respect to which the Special Servicer has waived or amended the prepayment restrictions such that the related
Borrower is not required to prepay on a Due Date or pay interest that would have accrued on the amount prepaid through and including
the last day of the interest accrual period occurring following the date of such prepayment) for the related Distribution Date,
and (ii) the aggregate of (A) the portion of its Master Servicing Fee (calculated for this purpose at 0.0025% (.25 basis points
per annum)) that is being paid in such Collection Period with respect to the Mortgage


 



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Loans or Serviced Pari Passu Companion Loans
serviced by it (other than a Non-Serviced Mortgage Loan or a Specially Serviced Loan), (B) all Prepayment Interest Excess received
by the Master Servicer during the related Collection Period on the Mortgage Loans or Serviced Pari Passu Companion Loans (other
than a Non Serviced Mortgage Loan or a Specially Serviced Loan) and (C) to the extent earned on principal prepayments, net investment
earnings payable to the Master Servicer for such Collection Period received by the Master Servicer during such Collection Period
with respect to the Mortgage Loan or any related Serviced Pari Passu Companion Loan, as applicable, subject to such prepayment;
provided that if any Prepayment Interest Shortfall occurs with respect to any Mortgage Loan as a result of the Master Servicer’s
failure to enforce the related Loan Documents (a “Prohibited Prepayment”) regarding principal prepayments (other
than in connection with (a) a Specially Serviced Loan, (b) a Non-Serviced Mortgage Loan, (c) subsequent to a default under the
related Loan Documents (provided that the Master Servicer reasonably believes that acceptance of such prepayment is consistent
with the Servicing Standard), (d) at the request of or with the consent of the Special Servicer or, so long as a Control Termination
Event has not occurred or is not continuing (other than with respect to the Mortgage Loans other than an Excluded Loan or a Servicing
Shift Whole Loan), the Directing Holder, (e) pursuant to applicable law or a court order, (f) in connection with the payment of
Insurance and Condemnation Proceeds unless the Master Servicer did not apply the proceeds thereof in accordance with the terms
of the related Loan Documents and such failure caused the shortfall or (g) a previously Specially Serviced Loan with respect to
which the Special Servicer has waived or amended the prepayment restriction such that the related Borrower is not required to prepay
on a Due Date or pay interest that would have accrued on the amount prepaid through and including the last day of the interest
accrual period occurring following the date of such prepayment), then for purposes of calculating the Compensating Interest Payment
for the related Distribution Date, the Master Servicer shall pay, without regard to clause (ii) above, the aggregate amount of
Prepayment Interest Shortfalls with respect to such Mortgage Loan or Serviced Companion Loan, otherwise described in clause (i)
above in connection with such Prohibited Prepayments. The Master Servicer’s obligation to pay the Compensating Interest Payment,
and the rights of the Certificateholders to offset of the aggregate Prepayment Interest Shortfalls against those amounts, shall
not be cumulative.


 


“Component XA-1”:
One of the components of the Class X-A Certificates having a Class X Component Notional Amount equal to the then current Lower-Tier
Principal Balance of the Class LA-1 Interest as of any date of determination.


 


“Component XA-2”:
One of the components of the Class X-A Certificates having a Class X Component Notional Amount equal to the then current Lower-Tier
Principal Balance of the Class LA-2 Interest as of any date of determination.


 


“Component XA-3A”:
One of the components of the Class X-A Certificates having a Class X Component Notional Amount equal to the then current Lower-Tier
Principal Balance of the Class LA-3A Interest as of any date of determination.


 


“Component XA-3B”:
One of the components of the Class X-A Certificates having a Class X Component Notional Amount equal to the then current Lower-Tier
Principal Balance of the Class LA-3B Interest as of any date of determination.


 



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“Component XA-4”:
One of the components of the Class X-A Certificates having a Class X Component Notional Amount equal to the then current Lower-Tier
Principal Balance of the Class LA-4 Interest as of any date of determination.


 


“Component XA-SB”:
One of the components of the Class X-A Certificates having a Class X Component Notional Amount equal to the then current Lower-Tier
Principal Balance of the Class LA-SB Interest as of any date of determination.


 


“Component XA-M”:
One of the components of the Class X-A Certificates having a Class X Component Notional Amount equal to the then current Lower-Tier
Principal Balance of the Class LA-M Interest as of any date of determination.


 


“Component XB”:
One of the components of the Class X-B Certificates having a Class X Component Notional Amount equal to the then current Lower-Tier
Principal Balance of the Class LB Interest as of any date of determination.


 


“Component XC”:
One of the components of the Class X-B Certificates having a Class X Component Notional Amount equal to the then current Lower-Tier
Principal Balance of the Class LC Interest as of any date of determination.


 


“Component XD”:
The component of the Class X-C Certificates having a Class X Component Notional Amount equal to the then current Lower-Tier
Principal Balance of the Class LD Interest as of any date of determination.


 


“Component XE”:
The component of the Class X-D Certificates having a Class X Component Notional Amount equal to the then current Lower-Tier
Principal Balance of the Class LE Interest as of any date of determination.


 


“Component XF”:
One of the components of the Class X-E Certificates having a Class X Component Notional Amount equal to the then current Lower-Tier
Principal Balance of the Class LF Interest as of any date of determination.


 


“Component XG”:
One of the components of the Class X-E Certificates having a Class X Component Notional Amount equal to the then current Lower-Tier
Principal Balance of the Class LG Interest as of any date of determination.


 


“Component XH”:
The component of the Class X-F Certificates having a Class X Component Notional Amount equal to the then current Lower-Tier
Principal Balance of the Class LH Interest as of any date of determination.


 


“Condemnation Proceeds”:
Any awards resulting from the full or partial condemnation or any eminent domain proceeding or any conveyance in lieu or in anticipation
thereof with respect to a Mortgaged Property by or to any governmental, quasi-governmental authority or private entity with condemnation
powers (other than amounts to be applied to the restoration, preservation or repair of such Mortgaged Property or released to the
related Borrower in accordance with the terms of the REMIC Provisions and the applicable Loan Documents for the related Mortgage
Loan or Serviced Whole Loan) or, if applicable, with respect to the Mortgaged Property securing a Serviced Whole Loan, any portion
of such amounts


 



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payable to the holders of the applicable Mortgage Loan. With respect to the Mortgaged Property securing any Non-Serviced
Mortgage Loan or Non-Serviced Companion Loan, only the portion of such amounts payable to the holder of the related Non-Serviced
Mortgage Loan shall be included in Condemnation Proceeds).


 


“Confidential Information”:
With respect to each of the Depositor, the Master Servicer, the Special Servicers, the Operating Advisor, the Asset Representations
Reviewer, the Certificate Administrator, and the Trustee, all material non-public information obtained in the course of and as
a result of such Person’s performance of its duties under this Pooling and Servicing Agreement with respect to any Mortgage
Loan (or Serviced Whole Loan), any Borrower and any Mortgaged Property, unless such information (i) was already in the possession
of such Person prior to being disclosed to such Person, (ii) is or becomes available to such Person from a source other than
its activities as the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor, the Asset Representations Reviewer,
the Certificate Administrator or the Trustee, as applicable, or (iii) is or becomes generally available to the public other
than as a result of a disclosure by the Master Servicer Servicing Personnel, applicable Special Servicer Servicing Personnel, the
Operating Advisor Surveillance Personnel, the Asset Representations Reviewer Surveillance Personnel, the Certificate Administrator
Personnel or the Trustee Personnel.


 


“Consultation Termination
Event”: At any date at which (i) no Class of Control Eligible Certificates exists where such Class’s aggregate
Certificate Balance is at least equal to 25% of the initial Certificate Balance of that Class, in each case, without regard to
the application of any Cumulative Appraisal Reduction Amounts or (ii) a Holder of the Class E Certificates is the majority
Controlling Class Certificateholder and has irrevocably waived its right, in writing, to exercise any of the rights of the Controlling
Class Certificateholder, and such rights have not been reinstated to a successor Controlling Class Certificateholder pursuant to
Section 3.29(g); provided that prior to the applicable Servicing Shift Securitization Date, no Consultation Termination
Event may occur with respect to the Loan-Specific Directing Holder related to the related Servicing Shift Whole Loan and the term
“Consultation Termination Event” shall not be applicable to the Loan-Specific Directing Holder related to such Servicing
Shift Whole Loan; provided further that no Consultation Termination Event resulting solely from the operation of
clause (ii) shall be deemed to have existed or be in continuance with respect to a successor Holder of Class E Certificates that
has not irrevocably waived its right to exercise any of the rights of the Controlling Class Certificateholder; provided
that a Consultation Termination Event shall not be deemed to be continuing in the event the Certificate Balances of all Classes
of Sequential Pay Certificates other than the Control Eligible Certificates have been reduced to zero. With respect to Excluded
Loans, a Consultation Termination Event shall be deemed to exist.


 


“Control Eligible Certificates”:
Any of the Class E, Class F, Class G and Class H Certificates.


 


“Control Termination Event”:
The occurrence of (i) the Certificate Balance of the Class E Certificates (taking into account the application of any Cumulative
Appraisal Reduction Amounts to notionally reduce the Certificate Balance of such Class in accordance with Section 4.08(a)
hereof) being reduced to less than 25% of the initial Certificate Balance of such Class or (ii) a Holder of the Class E Certificates
becoming the majority Controlling Class


 



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Certificateholder and has irrevocably waived its right, in writing, to exercise any of
the rights of the Controlling Class Certificateholder and such rights have not been reinstated to a successor Controlling Class
Certificateholder pursuant to Section 3.29(g); provided that prior to the applicable Servicing Shift Securitization
Date, no Control Termination Event may occur with respect to the Loan-Specific Directing Holder related to the related Servicing
Shift Whole Loan and the term “Control Termination Event” shall not be applicable to the Loan-Specific Directing Holder
related to such Servicing Shift Whole Loan; provided further that a Control Termination Event shall not be deemed
to be continuing in the event the Certificate Balances of all Classes of Sequential Pay Certificates other than the Control Eligible
Certificates have been reduced to zero. With respect to Excluded Loans, a Control Termination Event shall be deemed to exist.


 


“Controlling Class”:
As of any date of determination, the most subordinate Class of Control Eligible Certificates then outstanding that has a then aggregate
Certificate Balance (as notionally reduced by any Cumulative Appraisal Reduction Amounts allocable to such Class in accordance
with Section 4.08(a) of this Agreement) at least equal to 25% of the initial Certificate Balance of that Class or if
no Class of Control Eligible Certificates meets the preceding requirement, the most senior Class of Control Eligible Certificates.
The Controlling Class as of the Closing Date will be the Class H Certificates; provided that if, at any time, the Certificate
Balances of all Control Eligible Certificates, as notionally reduced by any Cumulative Appraisal Reduction Amounts allocable to
such Classes, have been reduced to zero, the Controlling Class shall be the most subordinate Class of Control Eligible Certificates
that has a principal balance greater than zero; provided, further that if at any time the Certificate Balance of
the Class A-1, Class A-2, Class A-SB, Class A-3A, Class A-3B, Class A-4, Class A-M, Class B, Class C and Class D certificates have
been reduced to zero as a result of the allocation of principal payments on the Mortgage Loans, then the “Controlling Class”
shall be the most subordinate class of Control Eligible Certificates that has an aggregate Certificate Balance greater than zero
without regard to the application of Cumulative Appraisal Reduction Amounts to notionally reduce the Certificate Balance of such
Class.


 


“Controlling Class Certificateholder”:
Each Holder (or Certificate Owner, if applicable) of a Certificate of the Controlling Class as determined by the Certificate Registrar
to the Certificate Administrator from time to time.


 


“Controlling Class Representative”:
The Controlling Class Certificateholder (or a representative thereof) selected by more than 50% of the Controlling Class Certificateholders,
by Certificate Balance, as determined by the Certificate Registrar from time to time; provided, that (i) absent such
selection, (ii) until a Controlling Class Representative is so selected, or (iii) upon receipt of a written notice from
a majority of the Controlling Class Certificateholders, by Certificate Balance, that a Controlling Class Representative is
no longer designated, then, in each case, the Controlling Class Certificateholder that represents that it owns the largest
aggregate Certificate Balance of the Controlling Class shall, subject to the terms of Section 3.29(b) of this Agreement,
be the Controlling Class Representative; provided, however, that, in the case of this clause (iii), in the
event that no one Certificateholder represents that it owns the largest aggregate Certificate Balance of the Controlling Class,
then there will be no Controlling Class Representative until appointed in accordance with the terms of this Agreement.


 


The initial Controlling Class Representative
on the Closing Date shall be Eightfold Real Estate Capital, L.P. on behalf of one or more managed funds or accounts. The


 



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replacement
of a Controlling Class Representatives shall be governed by the provisions of Section 3.29 of this Agreement. At any
time that no Controlling Class Representative has been identified to the Certificate Registrar and the other parties hereto, then
there will be deemed to be no Controlling Class Representative for purposes of this Agreement until such time as the Certificate
Registrar and the other parties to this Agreement receive notice of a successor Controlling Class Representative.


 


“Controlling Companion Loan”:
With respect to any Servicing Shift Whole Loan, the related Pari Passu Companion Loan which upon the securitization of such Pari
Passu Companion Loan, servicing is expected to shift to the pooling and servicing agreement entered into in connection with such
securitization. As of the Closing Date, the Hagerstown Premium Outlets Pari Passu Note A-2 will be a Controlling Companion Loan
related to the Trust.


 


“Corporate Trust Office”:
The offices of: (i) the Trustee located at 1100 North Market Street, Wilmington, Delaware 19890, Attention: CMBS Trustee DBJPM
2016-C1 and (ii) to the Certificate Administrator, located at 9062 Old Annapolis Road, Columbia, Maryland 21045, Attention: Corporate
Trust Services – DBJPM 2016-C1, or, (iii) in the case of any surrender, transfer or exchange at Wells Fargo Center, Sixth
Street and Marquette Avenue, Minneapolis, Minnesota 55479-0113, Attention: DBJPM 2016-C1, or the principal trust office of any
successor certificate administrator qualified and appointed pursuant to this Agreement.


 


“Corrected Mortgage Loan”:
As defined under the definition of Specially Serviced Loan.


 


“Corresponding Certificates”:
As defined in the Preliminary Statement with respect to any Corresponding Lower-Tier Regular Interest or Corresponding Class X
Component.


 


“Corresponding Class X Components”:
As defined in the Preliminary Statement with respect to any Corresponding Certificates or any Corresponding Lower-Tier Regular
Interest.


 


“Corresponding Lower-Tier
Regular Interests”: As defined in the Preliminary Statement with respect to any Corresponding Certificates or Corresponding
Class X Component.


 


“Credit Risk Retention Compliance
Agreement”: As defined in Section 3.33(d).


 


“CREFC®”:
Commercial Real Estate Finance Council®, formerly known as Commercial Mortgage Securities Association, or any association
or organization that is a successor thereto. If neither such association nor any successor remains in existence, “CREFC®”
shall be deemed to refer to such other association or organization as may exist whose principal membership consists of servicers,
trustees, certificateholders, issuers, placement agents and underwriters generally involved in the commercial mortgage loan securitization
industry, which is the principal such association or organization in the commercial mortgage loan securitization industry and whose
principal purpose is the establishment of industry standards for reporting transaction-specific information relating to commercial
mortgage pass-through certificates and commercial mortgage-backed bonds and the commercial mortgage loans and foreclosed properties
underlying or backing them to investors holding or owning such certificates or bonds,


 



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and any successor to such other association
or organization. If an organization or association described in one of the preceding sentences of this definition does not exist,
“CREFC®” shall be deemed to refer to such other association or organization as shall be selected by
the Master Servicer and reasonably acceptable to the Certificate Administrator, the Trustee, the Special Servicer and, if no Control
Termination Event has occurred and is continuing, the Directing Holder.


 


“CREFC® Appraisal
Reduction Template”: A report substantially in the form of, and containing the information called for in, the downloadable
form of the “Appraisal Reduction Template” available and effective from time to time on the CREFC® Website.


 


“CREFC® Advance
Recovery Report”: A monthly report substantially in the form of, and containing the information called for in, the downloadable
form of the “Advance Recovery Report” available as of the Closing Date on the CREFC® Website, or such
other form for the presentation of such information and containing such additional information as may from time to time be approved
by the CREFC® for commercial mortgage securities transactions generally.


 


“CREFC® Bond
Level File”: The data file in the “CREFC® Bond Level File” format substantially in the form
of and containing the information called for therein, or such other form for the presentation of such information as may be approved
from time to time by the CREFC® for commercial mortgage securities transactions generally.


 


“CREFC® Collateral
Summary File”: The data file in the “CREFC® Collateral Summary File” format substantially
in the form of and containing the information called for therein, or such other form for the presentation of such information as
may be approved from time to time by the CREFC® for commercial mortgage securities transactions generally.


 


“CREFC® Comparative
Financial Status Report”: The monthly report in “Comparative Financial Status Report” format substantially
in the form of and containing the information called for therein for the Mortgage Loans or Serviced Whole Loans, or such other
form for the presentation of such information as may be approved from time to time by the CREFC® for commercial
mortgage securities transactions generally. In connection with preparing the CREFC® Comparative Financial Status
Report, the Master Servicer shall process (a) interim financial statements beginning with interim financial statements for
the fiscal quarter ending June 30, 2016, and (b) annual financial statements beginning with annual financial statements for
the 2016 fiscal year.


 


“CREFC® Delinquent
Loan Status Report”: A report substantially in the form of, and containing the information called for in, the downloadable
form of the “Delinquent Loan Status Report” available as of the Closing Date on the CREFC® Website,
or no later than 90 days after its adoption, such other form for the presentation of such information and containing such
additional information as may from time to time be approved by the CREFC® for commercial mortgage securities transactions
generally.


 


“CREFC® Financial
File”: The data file in the “CREFC® Financial File” format substantially in the form of and
containing the information called for therein for the Mortgage Loans or Serviced Whole Loans, or such other form for the presentation
of such information as


 



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may be approved from time to time by the CREFC® for commercial mortgage securities transactions
generally. The initial data for this report shall be provided by each Mortgage Loan Seller.


 


“CREFC® Historical
Bond/Collateral Realized Loss Reconciliation Template”: A report substantially in the form of, and containing the information
called for in, the downloadable form of the “Historical Bond/Collateral Realized Loss Reconciliation Template” available
and effective from time to time on the CREFC® Website.


 


“CREFC® Historical
Liquidation Loss Template”: A report substantially in the form of, and containing the information called for in, the
downloadable form of the “Historical Liquidation Loss Template” available and effective from time to time on the CREFC®
Website.


 


“CREFC® Historical
Loan Modification and Corrected Mortgage Loan Report”: The monthly report in the “Historical Loan Modification
and Corrected Mortgage Loan Report” format substantially in the form of and containing the information called for therein
for the Mortgage Loans or Serviced Whole Loans, or such other form for the presentation of such information as may be approved
from time to time by the CREFC® for commercial mortgage securities transactions generally.


 


“CREFC® Intellectual
Property Royalty License Fee”: With respect to each Mortgage Loan (other than the portion of an REO loan related to any
Serviced Companion Loan) and for any related Interest Accrual Period, the amount of interest accrued during such Interest Accrual
Period at the CREFC® Intellectual Property Royalty License Fee Rate on the same principal balance, in the same manner,
and for the same number of days as any related interest payment with regards to the Mortgage Loan during which such Interest Accrual
Period is computed. Any payments of the CREFC® Intellectual Property Royalty License Fee shall be made to “CRE
Finance Council” and delivered by wire transfer pursuant to the following instructions (or such other instructions as may
hereafter be furnished by CREFC® to the Master Servicer in writing at least two Business Days prior to the Master
Servicer Remittance Date):


 


Account Name: Commercial Real Estate
Finance Council (CREFC®) 


Bank Name: JPM Morgan Chase Bank,
National Association 


Bank Address: 80 Broadway, New York,
NY 10005 


Routing Number: 021000021 


Account Number: 213597397


 


“CREFC® Intellectual
Property Royalty License Fee Rate”: A rate equal to 0.0005% per annum.


 


“CREFC® Interest
Shortfall Reconciliation Template”: A report substantially in the form of, and containing the information called for
in, the downloadable form of the “Interest Shortfall Reconciliation Template” available and effective from time to
time on the CREFC® Website.


 






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“CREFC® Investor
Reporting Package (CREFC® IRP)”:


 


(a)          The following seven
electronic files: (i) CREFC® Loan Setup File, (ii) CREFC® Loan Periodic Update File, (iii) CREFC®
Property File, (iv) CREFC® Bond Level File, (v) CREFC® Financial File, (vi) CREFC®
Collateral Summary File and (vii) CREFC® Special Servicer Loan File;


 


(b)          The following eleven
supplemental reports: (i) CREFC® Delinquent Loan Status Report, (ii) CREFC® Historical
Loan Modification and Corrected Mortgage Loan Report, (iii) CREFC® REO Status Report, (iv) CREFC®
Operating Statement Analysis Report, (v) CREFC® Comparative Financial Status Report, (vi) CREFC®
Servicer Watch List, (vii) CREFC® Loan Level Reserve/LOC Report, (viii) CREFC® NOI Adjustment
Worksheet, (ix) CREFC® Advance Recovery Report, (x) CREFC® Total Loan Report and (xi) CREFC®
Reconciliation of Funds Report;


 


(c)          the following eight
templates: (i) CREFC® Appraisal Reduction Template, (ii) CREFC® Servicer Realized Loss
Template, (iii) CREFC® Reconciliation of Funds Template, (iv) CREFC® Historical Bond/Collateral
Realized Loss Reconciliation Template, (v) CREFC® Historical Liquidation Loss Template, (vi) CREFC®
Interest Shortfall Reconciliation Template, (vii) CREFC® Servicer Remittance to Trustee Template and (viii) CREFC®
Significant Insurance Event Template; and


 


(d)          such other reports
and data files as CREFC® may designate as part of the “CREFC® Investor Reporting Package (CREFC®
IRP)” from time to time generally.


 


“CREFC® License
Agreement”: The License Agreement, in the form set forth on the website of CREFC® on the Closing Date,
relating to the use of the CREFC® trademarks and trade names.


 


“CREFC® Loan
Level Reserve/LOC Report”: A report substantially in the form of, and containing the information called for in, the downloadable
form of the “Loan Level Reserve/LOC Report” available and effective from time to time on the CREFC®
Website.


 


“CREFC® Loan
Periodic Update File”: The monthly data file substantially in the form of, and containing the information called for
in, the downloadable form of the “CREFC® Loan Periodic Update File” available and effective from time
to time on the CREFC® Website and, provided that each CREFC® Loan Periodic Update File shall
be accompanied by a CREFC® Advance Recovery Report, if such report is required for a particular month, and all references
herein to “CREFC® Loan Periodic Update File” shall be construed accordingly.


 


“CREFC® Loan
Setup File”: The data file substantially in the form of, and containing the information called for in, the downloadable
form of the “CREFC® Loan Setup File” available and effective from time to time on the CREFC®
Website.


 


“CREFC® NOI
Adjustment Worksheet”: A report substantially in the form of, and containing the information called for in, the downloadable
form of the “NOI Adjustment Worksheet” available and effective from time to time on the CREFC® Website.


 






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“CREFC® Operating
Statement Analysis Report”: A report substantially in the form of, and containing the information called for in, the
downloadable form of the “Operating Statement Analysis Report” available and effective from time to time on the CREFC®
Website.


 


“CREFC® Property
File”: The monthly data file substantially in the form of, and containing the information called for, in the downloadable
form of the “CREFC® Property File” available and effective from time to time on the CREFC®
Website.


 


“CREFC® Reconciliation
of Funds Template”: A report substantially in the form of, and containing the information called for in, the downloadable
form of the “Reconciliation of Funds Template” available and effective from time to time on the CREFC®
Website, or such other form for the presentation of such information and containing such additional information as may from time
to time be recommended by the CREFC® for commercial mortgage securities transactions generally.


 


“CREFC® REO
Status Report”: A monthly report substantially in the form of, and containing the information called for in, the downloadable
form of the “REO Status Report” available and effective from time to time on the CREFC® Website.


 


“CREFC® Servicer
Realized Loss Template”: A report substantially in the form of, and containing the information called for in, the downloadable
form of the “Servicer Realized Loss Template” available and effective from time to time on the CREFC®
Website.


 


“CREFC® Servicer
Watch List”: A report substantially in the form of, and containing the information called for in, the downloadable form
of the “Servicer Watch List” available and effective from time to time on the CREFC® Website.


 


“CREFC®
Special Servicer Loan File”: The monthly data file substantially in the form of, and containing the information called
for in, the downloadable form of the “Special Servicer Loan File” available and effective from time to time on the
CREFC® Website.


 


“CREFC® Supplemental
Servicer Reports”: The CREFC® Delinquent Loan Status Report, the CREFC® Historical Loan
Modification and Corrected Mortgage Loan Report, the CREFC® REO Status Report, the CREFC® Servicer
Watch List, the CREFC® NOI Adjustment Worksheet, the CREFC® Comparative Financial Status Report,
the CREFC® Operating Statement Analysis Report, the CREFC® Loan Level Reserve/LOC Report, the CREFC®
Advance Recovery Report and the CREFC® Total Loan Report.


 


“CREFC® Total
Loan Report”: The monthly report substantially in the form of, and containing the information called for in, the downloadable
form of the “Total Loan Report” available and effective from time to time on the CREFC® Website.


 


“CREFC® Website”:
The CREFC®’s Website located at www.crefc.org or such other primary website as the CREFC®
may establish for dissemination of its report forms.


 


“Cross-Over Date”:
The Distribution Date, if any, on which the Certificate Balance of each Class of Sequential Pay Certificates is (or will be) reduced
to zero.


 






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“Cumulative Appraisal Reduction
Amount”: As of any date of determination for any Mortgage Loan, the sum of (i) all Appraisal Reduction Amounts then in
effect, and (ii) with respect to any AB Modified Loan, any Collateral Deficiency Amount then in effect. The Certificate Administrator
shall be entitled to conclusively rely on the Master Servicer’s calculation or determination of any Cumulative Appraisal
Reduction Amount.


 


“Custodial Agreement”:
The Custodial Agreement, if any, from time to time in effect between the Custodian named therein and the Certificate Administrator,
in the form agreed to by the Certificate Administrator and the Custodian, as the same may be amended or modified from time to time
in accordance with the terms thereof. No Custodial Agreement will be required if the Custodian is the same party as the Certificate
Administrator.


 


“Custodian”: Any
Custodian appointed pursuant to Section 3.19 of this Agreement. If a Custodian is not so appointed, then the Custodian
shall be the Certificate Administrator. The Custodian may (but need not) be the Certificate Administrator, the Trustee or the Master
Servicer or any Affiliate of the Certificate Administrator, the Trustee or the Master Servicer. Wells Fargo Bank, National Association
will perform its obligations as Custodian hereunder through its Document Custody division.


 


“Cut-off Date”:
With respect to each Mortgage Loan, the later of the related Due Date of such Mortgage Loan in April 2016 and the date of origination
of such Mortgage Loan.


 


“DBRS”: DBRS, Inc.,
or its successor in interest. If neither such rating agency nor any successor remains in existence, “DBRS” shall be
deemed to refer to such other nationally recognized statistical rating agency or other comparable Person reasonably designated
by the Depositor, notice of which designation shall be given to the other parties hereto, and specific ratings of DBRS herein referenced
shall be deemed to refer to the equivalent ratings of the party so designated.


 


“Debt Service Coverage Ratio”:
With respect to any Mortgage Loan or Serviced Whole Loan as of any date of determination and for any period, the ratio calculated
by dividing the net operating income or net cash flow, as applicable, of the related Mortgaged Property or Mortgaged Properties,
as the case may be, for the most recently ended 12-month trailing or one-year period for which data is available from the related
Borrower (or year-to-date until such time that data for the trailing 12-month period is available), before payment of any scheduled
payments of principal and interest on such Mortgage Loan or Serviced Whole Loan but after funding of required reserves and “normalized”
information from the CREFC® NOI Adjustment Worksheet for such Mortgaged Property by the Master Servicer or Special
Servicer, if applicable, pursuant to Section 3.13 of this Agreement, by the annual debt service required by such Mortgage
Loan or Serviced Whole Loan. Annual debt service shall be calculated by multiplying the Periodic Payment in effect on such date
of determination for such Mortgage Loan or Serviced Whole Loan by 12 (or such fewer number of months for which related information
is available).


 


“Default”: An event
of default under the Loan Documents for any Mortgage Loan or Whole Loan, or an event which, with the passage of time or the giving
of notice, or both, would constitute an event of default under the Loan Documents for such Mortgage Loan or Whole Loan.


 






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“Default Interest”:
With respect to any Mortgage Loan or Serviced Companion Loan, interest accrued on such Mortgage Loan or Serviced Companion Loan
at the excess of (i) the related Default Rate over (ii) the related Mortgage Rate.


 


“Default Rate”:
With respect to each Mortgage Loan or Serviced Companion Loan, the per annum rate at which interest accrues on such Mortgage
Loan or Serviced Companion Loan following any event of default on such Mortgage Loan or Serviced Companion Loan, including a default
in the payment of a Periodic Payment or a Balloon Payment.


 


“Defaulted Loan”:
A Mortgage Loan or Serviced Companion Loan (i) that is delinquent at least 60 days in respect of its Periodic Payments or
that is more than 60 days delinquent in respect of its Balloon Payment, if any, in either case such Delinquency to be determined
without giving effect to any grace period permitted by the related Loan Documents and without regard to any acceleration of payments
under the related Mortgage Loan or Serviced Companion Loan or (ii) as to which the Master Servicer or Special Servicer has,
by written notice to the related borrower, accelerated the maturity of the indebtedness evidenced by the related Mortgage Note.


 


“Defeasance Account”:
As defined in Section 3.26(j) of this Agreement.


 


“Defect”: As defined
in Section 2.03(e) of this Agreement.


 


“Deficient Exchange Act Deliverable”:
With respect to the Master Servicer, the Special Servicer, the Operating Advisor, the Asset Representations Reviewer, the Custodian,
the Certificate Administrator, the Trustee and each Servicing Function Participant and Additional Servicer retained by it (other
than a Mortgage Loan Seller Sub-Servicer), any item (x) regarding such party, (y) prepared by such party or any registered public
accounting firm, attorney or other agent retained by such party to prepare such information and (z) delivered by or on behalf of
such party pursuant to the delivery requirements under Article X of this Agreement that does not conform to the applicable
reporting requirements under the Securities Act, the Exchange Act, the Sarbanes-Oxley Act and the rules and regulations promulgated
thereunder.


 


“Delinquency”: Any
failure of a Borrower to make a scheduled Periodic Payment or Balloon Payment on a Due Date.


 


“Delinquent Mortgage Loan”:
A Mortgage Loan that is delinquent at least sixty days in respect of its Periodic Payments or Balloon Payment, if any, in either
case such delinquency to be determined without giving effect to any grace period.


 


“Denomination”:
As defined in Section 5.01(a) of this Agreement.


 


“Depositor”: Deutsche
Mortgage & Asset Receiving Corporation, a Delaware corporation, and its successors and assigns.


 


“Depository”: The
Depository Trust Company or a successor appointed by the Certificate Registrar (which appointment shall be at the direction of
the Depositor if the Depositor is legally able to do so).


 






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“Depository Participant”:
A Person for whom, from time to time, the Depository effects book-entry transfers and pledges of securities deposited with the
Depository.


 


“Determination Date”:
With respect to any Distribution Date, the 6th day of the calendar month of the related Distribution Date or, if such 6th day is
not a Business Day, then the next Business Day, commencing in May 2016.


 


“Diligence File”:
With respect to each Mortgage Loan or Companion Loan, if applicable, collectively the following documents in electronic format:


 


(a)        A copy of each of the
following documents:


 


(i)   the Mortgage Note,
endorsed on its face or by allonge attached to the Mortgage Note, without recourse, to the order of the Trustee or in blank and
further showing a complete, unbroken chain of endorsement from the Originator (or, if the original Mortgage Note has been lost,
an affidavit to such effect from the applicable Mortgage Loan Seller or another prior holder, together with a copy of the Mortgage
Note and an indemnity properly assigned and endorsed to the Trustee);


 


(ii)  the Mortgage, together
with an original or copy of any intervening assignments of the Mortgage, in each case with evidence of recording indicated thereon
or certified to have been submitted for recording;


 


(iii) assignment of
the Mortgage in favor of the Trustee (or the related Other Trustee, in the case of a Non-Serviced Mortgage Loan) or in blank and
(subject to the completion of certain missing recording information and, if applicable, the assignee’s name) in recordable
form (or, if the related Mortgage Loan Seller is responsible for the recordation of that assignment, a copy of such assignment
to be sent for recordation);


 


(iv) any related Assignment
of Leases, Rents and Profits of any intervening assignments (if such item is a document separate from the Mortgage), with evidence
of recording indicated thereon or certified to have been submitted for recording;


 


(v)  an assignment of
any related Assignment of Leases, Rents and Profits (if such item is a document separate from the Mortgage) in favor of the Trustee
(or the related Other Trustee, in the case of a Non-Serviced Mortgage Loan) or in blank and (subject to the completion of certain
missing recording information and, if applicable, the assignee’s name) in recordable form (or, if the related Mortgage Loan
Seller is responsible for the recordation of that assignment, a copy of such assignment to be sent for recordation);


 


(vi) the assignment
of all unrecorded documents relating to the Mortgage Loan or a Serviced Whole Loan, if not already assigned pursuant to items (iii)
or (v) above;


 






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(vii)all modification,
consolidation, assumption, written assurance and substitution agreements in those instances in which the terms or provisions of
the Mortgage or Mortgage Note have been modified or the Mortgage Loan has been assumed or consolidated;


 


(viii)        the policy or
certificate of lender’s title insurance issued on the date of the origination of such Mortgage Loan, or, if such policy has
not been issued or located, an irrevocable, binding commitment (which may be a marked version of the policy that has been executed
by an authorized representative of the title company or an agreement to provide the same pursuant to binding escrow instructions
executed by an authorized representative of the title company) to issue such title insurance policy;


 


(ix)any UCC financing
statements, related amendments and continuation statements in the possession of the applicable Mortgage Loan Seller;


 


(x)an original assignment
in favor of the Trustee (or the related Other Trustee, in the case of a Non-Serviced Mortgage Loan) of any financing statement
executed and filed in favor of the applicable Mortgage Loan Seller in the relevant jurisdiction (or, if the related Mortgage Loan
Seller is responsible for the filing of that assignment, a copy of such assignment to be sent for filing);


 


(xi)    any Intercreditor
Agreement relating to permitted debt of the mortgagor, including any Intercreditor Agreement relating to a Serviced Whole Loan;


 


(xii)   any loan agreement,
escrow agreement, security agreement or letter of credit relating to a Mortgage Loan or a Serviced Whole Loan;


 


(xiii)        any ground lease,
ground lessor estoppel, indemnity or guaranty relating to a Mortgage Loan or a Serviced Whole Loan;


 


(xiv)        any property management
agreement relating to a Mortgage Loan or a Serviced Whole Loan;


 


(xv)any franchise agreements
and comfort letters or similar agreements relating to a Mortgage Loan or Serviced Whole Loan and, with respect to any franchise
agreement, comfort letter or similar agreement, any assignment of such agreements or any notice to the franchisor of the transfer
of a Mortgage Loan or Serviced Whole Loan and a request for confirmation that the issuing entity is a beneficiary of such comfort
letter or other agreement, or for the issuance of a new comfort letter in favor of the issuing entity, as the case may be;


 


(xvi)        any lock-box or
cash management agreement relating to a Mortgage Loan or a Serviced Whole Loan;


 


(xvii)       any related mezzanine
intercreditor agreement;


 






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(xviii)      all related
environmental reports;


 


(xix)         all related environmental
insurance policies;


 


(b)     a copy of any engineering
reports or property condition reports;


 


(c)      other than with respect
to a hotel property (except with respect to tenanted commercial space within a hotel property), copies of a rent roll;


 


(d)     for any office, retail,
industrial or warehouse property, a copy of all leases and estoppels and subordination and non-disturbance agreements delivered
to the related Mortgage Loan Seller;


 


(e)     copies of all legal
opinions (excluding attorney client communications between the related Mortgage Loan Seller, and its counsel that are privileged
communications or constitute legal or other due diligence analyses), if any, delivered in connection with the closing of the related
Mortgage Loan;


 


(f)     copies of all mortgagor’s
certificates of hazard insurance and/or hazard insurance policies or other applicable insurance policies (to the extent not previously
included as part of this definition), if any, delivered in connection with the origination of the related Mortgage Loan;


 


(g)     a copy of the appraisal
for the related Mortgaged Property(ies);


 


(h)     for any Mortgage Loan
that the related Mortgaged Property is leased to a single tenant, a copy of the lease;


 


(i)      a copy of the applicable
Mortgage Loan Seller’s asset summary;


 


(j)      copies of all surveys
for the related Mortgaged Property or Mortgaged Properties;


 


(k)     copies of any zoning
reports;


 


(l)      copies of financial
statements of the related mortgagor;


 


(m)     copies of operating
statements for the related Mortgaged Property or Mortgaged Properties;


 


(n)     copies of all UCC searches;


 


(o)     copies of all litigation
searches;


 


(p)     copies of all bankruptcy
searches;


 


(q)     a copy of the origination
settlement statement;


 


(r)      a copy of the insurance
consultant report;


 






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(s)     copies of the organizational
documents of the related mortgagor and any guarantor;


 


(t)      copies of the escrow
statements;


 


(u)     a copy of any closure
letter (environmental);


 


(v)     a copy of any environmental
remediation agreement for the related Mortgaged Property or Mortgaged Properties; and


 


(w)     a copy of the payment
history with respect to such Mortgage Loan prior to the Closing Date;


 


provided, that with respect
to any Mortgage Loan which is a Non-Serviced Mortgage Loan on the Closing Date, any assignments in favor of the trustee will be
in favor of the trustee under the related Other Pooling and Servicing Agreement;


 


in each case, to the extent that the
originator received such documents in connection with the origination of such Mortgage Loan. In the event any of the items identified
above were not included in connection with the origination of such Mortgage Loan, the Diligence File shall include a statement
to that effect; provided that the Mortgage Loan Seller shall not deliver information that is proprietary to the related
originator or Mortgage Loan Seller or any draft documents or privileged or internal communications. The Mortgage Loan Seller may,
without any obligation to do so, include such other documents or information as part of the Diligence File that such Mortgage Loan
Seller believes should be included to enable the Asset Representations Reviewer to perform the Asset Review on such Mortgage Loan;
provided that such documents or information are clearly labeled and identified.


 


“Diligence File Certification”:
As defined in Section 2.01(f).


 


“Directing Holder”:  
With respect to (i) any Mortgage Loan (other than a Non-Serviced Mortgage Loan, Servicing Shift Mortgage Loan or Excluded Mortgage
Loan) or Serviced Whole Loan, the Controlling Class Representative, (ii) each Servicing Shift Whole Loan, the related Loan-Specific
Directing Holder and (iii) each Excluded Mortgage Loan, there will be no Directing Holder.


 


At such time as there is no Controlling
Class in accordance with the definition thereof, the Directing Holder shall have no rights under this Agreement.


 


The identification and contact information
of each initial Directing Holder as of the Closing Date is set forth on Schedule I to this Agreement. The parties to
this Agreement may rely on such Schedule in accordance with Section 3.29.


 


For the avoidance of doubt, notwithstanding
anything to the contrary contained in this Agreement, Control Termination Event and Consultation Termination Event shall not affect
the rights of a Non-Directing Holder. Whenever the term “Directing Holder” is used in this Agreement without further
clarification, the parties hereto intend for such reference to mean the applicable Directing Holder under the circumstances.


 






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In the event that no Directing Holder
has been appointed or identified to the Master Servicer or the Special Servicer, as applicable, and the Master Servicer or the
Special Servicer, as applicable, has attempted to obtain such information from the Certificate Administrator and no such entity
has been identified to the Master Servicer or the Special Servicer, as applicable, then until such time as the new Directing Holder
is identified, the Master Servicer or the Special Servicer, as applicable, shall have no duty to consult with, provide notice to,
or seek the approval or consent of any such Directing Holder as the case may be.


 


“Directly Operate”:
With respect to any Serviced REO Property, the furnishing or rendering of services to the tenants thereof that are not customarily
provided to tenants in connection with the rental of space for occupancy only within the meaning of Treasury Regulations Section 1.512(b)-1(c)(5),
the management or operation of such Serviced REO Property, the holding of such Serviced REO Property primarily for sale to customers
in the ordinary course of a trade or business, or any use of such Serviced REO Property in a trade or business conducted by the
Trust Fund, or the performance of any construction work on the Serviced REO Property other than through an Independent Contractor;
provided that the Special Servicer, on behalf of the Trust Fund, shall not be considered to Directly Operate a Serviced
REO Property solely because the Special Servicer, on behalf of the Trust Fund, establishes rental terms, chooses tenants, enters
into or renews leases, deals with taxes and insurance, or makes decisions as to repairs or capital expenditures with respect to
such Serviced REO Property or takes other actions consistent with Treasury Regulations Section l.856-4(b)(5)(ii).


 


“Disclosable Special Servicer
Fees”: With respect to any Mortgage Loan (other than a Non-Serviced Mortgage Loan), Serviced Whole Loan or Serviced REO
Property, any compensation and other remuneration (including, without limitation, in the form of commissions, brokerage fees, rebates,
and as a result of any other fee-sharing arrangement) received or retained by the Special Servicer or any of its Affiliates that
is paid by any Person (including, without limitation, the Trust, any Borrower, any Manager, any guarantor or indemnitor in respect
of a Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced Whole Loan and any purchaser of any Mortgage Loan (other
than a Non-Serviced Mortgage Loan), Serviced Whole Loan or Serviced REO Property) in connection with the disposition, workout or
foreclosure of any Mortgage Loan (other than a Non-Serviced Mortgage Loan), Serviced Whole Loan, if applicable, the management
or disposition of any Serviced REO Property, and the performance by the Special Servicer or any such Affiliate of any other special
servicing duties under this Agreement; provided that any compensation and other remuneration that the Master Servicer or
Certificate Administrator is permitted to receive or retain pursuant to the terms of this Agreement in connection with its respective
duties in such capacity as Master Servicer or Certificate Administrator under this Agreement shall not be Disclosable Special Servicer
Fees.


 


“Disclosure Parties”:
As defined in Section 3.14(e) of this Agreement.


 


“Dispute Resolution Consultation”:
As defined in Section 2.03(l)(i).


 


“Dispute Resolution Cut-off
Date”: As defined in Section 2.03(l)(i).


 


“Disqualified Non-U.S. Person”:
With respect to a Class R Certificate, any Non-U.S. Person or agent thereof other than (a) a Non-U.S. Person that holds the
Class R Certificate in connection with the conduct of a trade or business within the United States and has furnished


 






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the transferor
and the Certificate Registrar with an effective IRS Form W-8ECI (or applicable successor Form promulgated by the IRS for the purpose
of providing and certifying the information provided on Form W-8ECI as of the Closing Date) or (b) a Non-U.S. Person that
has delivered to both the transferor and the Certificate Registrar an opinion of a nationally recognized tax counsel to the effect
that the transfer of the Class R Certificate to it is in accordance with the requirements of the Code and the regulations promulgated
thereunder and that such transfer of the Class R Certificate will not be disregarded for federal income tax purposes.


 


“Disqualified Organization”:
Any of (a) the United States, a State or any political subdivision thereof or any agency or instrumentality of any of the
foregoing (other than an instrumentality that is a corporation if all of its activities are subject to tax and, except for the
Federal Home Mortgage Corporation, a majority of its board of directors is not selected by any such governmental unit), (b) a
foreign government, International Organization (as defined below) or agency or instrumentality of either of the foregoing, (c) an
organization that is exempt from tax imposed by Code Chapter 1 (including the tax imposed by Section 511 of the Code on unrelated
business taxable income) on any excess inclusions (as defined in Section 860E(c)(1) of the Code) with respect to the Class
R Certificates (except certain farmers’ cooperatives described in Section 521 of the Code), (d) rural electric
and telephone cooperatives described in Section 1381(a)(2)(C) of the Code, or (e) any other Person so designated by the
Certificate Registrar based upon an Opinion of Counsel provided to the Certificate Registrar (which shall be an expense of the
Trust) to the effect that any Transfer to such Person may cause any Trust REMIC to be subject to tax or to fail to qualify as a
REMIC at any time that the Certificates are outstanding. For the purposes of this definition, the terms “United States,”
“State” and “International Organization” shall have the meanings set forth in Section 7701 of the
Code or successor provisions.


 


“Distribution Accounts”:
Collectively, the Upper-Tier Distribution Account and the Lower-Tier Distribution Account, each of which may be sub-accounts of
a single Eligible Account.


 


“Distribution Date”:
For each Determination Date, the 4th Business Day following such Determination Date in each calendar month, commencing in May 2016.
The first Distribution Date shall be May 12, 2016.


 


“Distribution Date Statement”:
As defined in Section 4.02(a) of this Agreement.


 


“Do Not Hire List”:
The list, as may be updated at any time, provided by the Depositor to the Master Servicer, Special Servicer, the Certificate Administrator,
Trustee or Operating Advisor, the Asset Representations Reviewer, which lists certain parties identified by the Depositor as having
failed to comply (after any applicable cure period) with their respective obligations under Article X of this Agreement
or as having failed to comply (after any applicable cure period) with any similar Regulation AB reporting requirements under any
other securitization transaction.


 


“Due Date”: With
respect to (i) any Mortgage Loan or Serviced Whole Loan on or prior to its Maturity Date, the day of the month set forth in
the related Mortgage Note on which each Periodic Payment thereon is scheduled to be first due and (ii) any Mortgage Loan or


 






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Serviced Whole Loan after the Maturity Date therefor or any REO Loan, the day of the month set forth in the related Mortgage Note
on which each Periodic Payment on such Mortgage Loan or Serviced Whole Loan had been scheduled to be first due.


 


“Early Termination Notice
Date”: Any date as of which the aggregate Stated Principal Balance of the Mortgage Loans remaining in the Trust is less
than 1.0% of the aggregate Stated Principal Balance of all of the Mortgage Loans as of the Cut-off Date.


 


“EDGAR Compatible Format”:
Any format compatible with EDGAR, including, without limitation, HTML, word, excel or clean and searchable PDF.


 


“Eligible Account”:
Any of:


 


(i)       an account or accounts
maintained with a depository institution or trust company (A) the short-term unsecured debt obligations or commercial paper of
which are rated at least “P-1” by Moody’s, “F1” by Fitch and “R-1 (middle)” by DBRS (or,
if not rated by DBRS, an equivalent (or higher) rating by any two other NRSROs (which may include Moody’s and Fitch)), in
the case of accounts in which funds are held for 30 days or less or, (B) in the case of accounts in which funds are held for more
than 30 days, the long-term unsecured debt obligations of which are rated at least “A2” by Moody’s, “A”
by Fitch and “A” by DBRS (or, if not rated by DBRS, an equivalent (or higher) rating by any two other NRSROs (which
may include Moody’s and Fitch)),


 


(ii)      an account or accounts
maintained with PNC Bank, National Association so long as PNC Bank, National Association’s long-term unsecured debt or deposit
accounts are rated at least “A2” by Moody’s, “A” by Fitch and “A” by DBRS (if rated by
DBRS or, if not rated by DBRS, an equivalent (or higher) rating by any two other NRSROs (which may include Moody’s and Fitch))
(if the deposits are to be held in the account for more than 30 days) or PNC Bank, National Association’s short-term deposit
accounts or short-term unsecured debt rating is rated at least “P-1” by Moody’s, “F1” by Fitch and
“R-1 (middle)” by DBRS (if rated by DBRS or, if not rated by DBRS, an equivalent (or higher) rating by any two other
NRSROs (which may include Moody’s and Fitch)) (if the deposits are to be held in the account for 30 days or less),


 


(iii)     an account or
accounts maintained with Wells Fargo Bank, National Association so long as such depository’s long-term unsecured debt rating
shall be at least “A2” by Moody’s, “BBB+” by Fitch and “A” by DBRS (if rated by DBRS
or, if not rated by DBRS, an equivalent (or higher) rating by any two other NRSROs (which may include Moody’s and Fitch))
(if the deposits are to be held in the account for more than 30 days) or Wells Fargo Bank, National Association’s short-term
deposit accounts or short-term unsecured debt rating is rated at least “P-1” by Moody’s, “F2” by
Fitch and “R-1 (middle)” by DBRS (if rated by DBRS or, if not rated by DBRS, an equivalent (or higher) rating by any
two other NRSROs (which may include Moody’s and Fitch)) (if the deposits are to be held in the account for 30 days or less),


 






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(iv)     a segregated trust
account or accounts maintained with the trust department of a federal or state chartered depository institution or trust company
acting in its fiduciary capacity which institution or trust company has a combined capital and surplus of at least $50,000,000
and is subject to supervision or examination by federal or state authority and to regulations regarding fiduciary funds on deposit
similar to Title 12 of the Code of Federal Regulations, Section 9.10(b) and the long-term unsecured debt obligations of which are
rated at least “A2” by Moody’s,


 


(v)      such other account
or accounts that, but for the failure to satisfy one or more of the minimum rating(s) set forth in the applicable clause, would
be listed in clauses (i)-(iii) above, with respect to which a Rating Agency Confirmation has been obtained from each Rating Agency
for which the minimum ratings set forth in the applicable clause is not satisfied with respect to such account, or


 


(vi)     any other account
as to which the Certificate Administrator, the Trustee, the Master Servicer or the Special Servicer, as applicable, receives a
Rating Agency Confirmation from each Rating Agency, which may be an account maintained by or with the Certificate Administrator,
the Trustee, the Master Servicer or the Special Servicer.


 


Eligible Accounts may bear
interest.


 


“Eligible Investor”:
Any of (i) a Qualified Institutional Buyer that is purchasing for its own account or for the account of a Qualified Institutional
Buyer to whom notice is given that the offer, sale or transfer is being made in reliance on Rule 144A or (ii) (except
with respect to the Class R Certificates) an Institutional Accredited Investor.


 


“Eligible Asset Representations
Reviewer”: An institution that (a) is the special servicer, operating advisor or asset representations reviewer on a
transaction rated by any of Moody’s, Fitch, KBRA, DBRS, S&P or Morningstar and that has not been a special servicer,
operating advisor or asset representations reviewer on a transaction for which Moody’s, Fitch, KBRA, DBRS, S&P or Morningstar
has qualified, downgraded or withdrawn its rating or ratings of, one or more classes of certificates for such transaction citing
servicing or other relevant concerns with the special servicer, operating advisor or asset representations reviewer as the sole
or material factor in such rating action, (b) can and will make the representations and warranties set forth in Section 2.04(g),
(c) is not (and is not affiliated with) any Sponsor, any Mortgage Loan Seller, any Originator, the Master Servicer, the Special
Servicer, the Depositor, the Certificate Administrator, the Trustee, the Directing Holder or any of their respective Affiliates,
(d) has not performed (and is not affiliated with any party hired to perform) any due diligence, loan underwriting, brokerage,
borrower advisory or similar services with respect to any Mortgage Loan or any related Companion Loan prior to the Closing Date
for or on behalf of any Sponsor, any Mortgage Loan Seller, any Underwriter, any party to this Agreement or the Directing Holder
of any of their respective Affiliates, or have been paid any fees, compensation or other remuneration by any of them in connection
with any such services, and (e) does not directly or indirectly, through one or more Affiliates or otherwise, own any interest
in any Certificates, any Mortgage Loans, any Companion Loan or any securities backed by a


 






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Companion Loan or otherwise have any
financial interest in the securitization transaction to which this Agreement relates, other than in fees from its role as Asset
Representations Reviewer (or as Operating Advisor, if applicable) and except as otherwise set forth in Section 11.02.


 


“Eligible Operating Advisor”:
An institution (i) that is the special servicer or operating advisor on a commercial mortgage-backed securities transaction
rated by DBRS, Fitch, KBRA, Moody’s, Morningstar or S&P (including, in the case of Park Bridge Lender Services LLC, this transaction)
but has not been special servicer or operating advisor on a transaction for which DBRS, Fitch, KBRA, Moody’s, Morningstar or S&P
has qualified, downgraded or withdrawn its rating or ratings of, one or more classes of certificates for such transaction
citing servicing concerns with the special servicer or operating advisor as the sole or material factor in such rating action,
(ii) that can and will make the representations and warranties set forth in Section 2.04(f) of this Agreement,
(iii) that is not (and is not affiliated with) the Depositor, the Trustee, the Certificate Administrator, the Master Servicer,
the Special Servicer, a Mortgage Loan Seller, the Controlling Class Representative, the Directing Holder, an Other Depositor, Other
Trustee, Other Servicer or Other Special Servicer, or an Affiliate of the Depositor, the Trustee, the Certificate Administrator,
the Master Servicer, the Special Servicer, a Mortgage Loan Seller, the Controlling Class Representative, the Directing Holder or
an Other Depositor, Other Trustee, Other Servicer or Other Special Servicer, and (iv) that has not been paid by any Special
Servicer or successor Special Servicer any fees, compensation or other remuneration (x) in respect of its obligations hereunder
or (y) for the appointment or recommendation for replacement of a successor Special Servicer to become the Special Servicer.


 


“Enforcing Party”:
The Person obligated to or that elects pursuant to the terms of this Agreement to enforce the rights of the issuing entity against
the related Mortgage Loan Seller with respect to the Repurchase Request.


 


“Enforcing Servicer”:
(a) With respect to a Specially Serviced Loan, the Special Servicer, and (b) with respect to a Performing Loan, the Master Servicer.


 


“Environmental Insurance Policy”:
With respect to any Mortgaged Property or Serviced REO Property, any insurance policy covering pollution conditions and/or other
environmental conditions that is maintained from time to time in respect of such Mortgaged Property or Serviced REO Property, as
the case may be, for the benefit of, among others, the Trustee on behalf of the Certificateholders.


 


“Environmental Report”:
The environmental audit report or reports with respect to each Mortgaged Property delivered to the Mortgage Loan Sellers in connection
with the related Mortgage Loan.


 


“ERISA”: The Employee
Retirement Income Security Act of 1974, as it may be amended from time to time.


 


“Escrow Account”:
As defined in Section 3.04(b) of this Agreement. Any Escrow Account may be a sub-account of the related Cash Collateral
Account.


 


“Escrow Payment”:
Any payment made by any Borrower to the Master Servicer pursuant to the related Mortgage, Cash Collateral Account Agreement, Lock-Box
Agreement,


 






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Loan Agreement or other Loan Document for the account of such Borrower for application toward the payment of taxes,
insurance premiums, assessments, environmental remediation and similar items in respect of the related Mortgaged Property or related
to the satisfaction of closing conditions for the related Mortgage Loan.


 


“Euroclear”: Euroclear
Bank, as operator of the Euroclear System and its successors in interest.


 


“Excess Prepayment Interest
Shortfall”: With respect to any Distribution Date, the aggregate amount, if any, by which the Prepayment Interest Shortfalls
with respect to all Principal Prepayments received with respect to the Mortgage Loans and Companion Loans during the related prepayment
period exceed the Compensating Interest Payment.


 


“Excess Servicing Fees”:
With respect to each Mortgage Loan and any Serviced Companion Loan (and any successor REO Loan with respect thereto), that portion
of the Servicing Fee that accrues at a per annum rate equal to the Excess Servicing Fee Rate.


 


“Excess Servicing Fee Rate”:
With respect to each Mortgage Loan and any Serviced Companion Loan (and any successor REO Loan with respect thereto), a rate
per annum equal to the Servicing Fee Rate (subject to the rights of the Mortgage Loan Seller Sub-Servicers identified on Exhibit
X to this Agreement) minus 0.0025%; provided that such rate shall be subject to reduction pursuant to Section 7.02
of this Agreement.


 


“Excess Servicing Fee Right”:
With respect to each Mortgage Loan and any Serviced Companion Loan (and any successor REO Loan with respect thereto), the right
to receive Excess Servicing Fees. In the absence of any transfer of the Excess Servicing Fee Right, the Master Servicer shall be
the owner of such Excess Servicing Fee Right.


 


“Exchange Act”:
The Securities Exchange Act of 1934, as amended and the rules and regulations thereunder.


 


“Excluded Controlling Class
Holder”: With respect to any Excluded Controlling Class Mortgage Loan, the Controlling Class Representative or any Controlling
Class Certificateholder, as applicable, that is a Borrower Party with respect to such Excluded Controlling Class Mortgage Loan.
Immediately upon obtaining actual knowledge of any such party becoming an “Excluded Controlling Class Holder”, the
Controlling Class Representative or Controlling Class Certificateholder, as applicable, shall provide notice in the form of Exhibit
L-1E hereto to the Master Servicer, the Special Servicer, the Operating Advisor, the Trustee and the Certificate Administrator,
which such notice shall be physically delivered in accordance with Section 11.05 of this Agreement and shall specifically identify
the Excluded Controlling Class Holder and the subject Excluded Controlling Class Mortgage Loan. Additionally, any Excluded Controlling
Class Holder shall also send to the Certificate Administrator a notice substantially in the form of Exhibit L-1F hereto,
which such notice shall provide each of the CTSLink User ID’s associated with such Excluded Controlling Class Holder, and
which such notice shall direct the Certificate Administrator to restrict such Excluded Controlling Class Holder’s access
to the Certificate Administrator’s Website as provided in this Agreement. As of the Closing Date, there are no Excluded Controlling
Class Holders related to the Trust.


 






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“Excluded Controlling Class
Mortgage Loan”: Any Mortgage Loan or Whole Loan with respect to which, as of any date of determination, the Controlling
Class Representative or any Controlling Class Certificateholder is a Borrower Party. As of the Closing Date, there are no Excluded
Controlling Class Mortgage Loans related to the Trust.


 


“Excluded Information”:
With respect to any Excluded Controlling Class Mortgage Loan, any information and reports solely relating to such Excluded Controlling
Class Mortgage Loan(s) and/or the related Mortgaged Properties that is segregated on the Certificate Administrator’s Website,
including, without limitation, any Asset Status Reports, Final Asset Status Reports or summaries thereof, or any appraisals, inspection
reports (related to Specially Serviced Loans conducted by the Special Servicer or the Excluded Special Servicer), recoverability
officer’s certificates, the Operating Advisor Annual Reports, any determination of the Special Servicer’s net present
value calculation, any appraisal reduction amount calculations, environmental assessments, seismic reports and property condition
reports and such other information and reports designated as Excluded Information (other than such information with respect to
such Excluded Controlling Class Mortgage Loan(s) that is aggregated with information of other Mortgage Loans at a pool level) by
the Master Servicer, the Special Servicer and the Operating Advisor, as the case may be. For the avoidance of doubt, any file or
report contained in the CREFC® Investor Reporting Package (CREFC® IRP) (other than the CREFC®
Special Servicer Loan File relating to any Excluded Controlling Class Mortgage Loan) shall not be considered “Excluded Information”.
Any Excluded Information to be delivered to the Certificate Administrator by the Master Servicer, the Special Servicer or the Operating
Advisor shall be delivered in accordance with Section 3.32 hereof. For the avoidance of doubt, the Certificate Administrator’s
obligation to segregate any information delivered to it under the “Excluded Information” tab on the Certificate Administrator’s
Website shall be triggered solely by such information being delivered in the manner provided in Section 3.32 hereof.


 


“Excluded Mortgage Loan”:
Any Mortgage Loan or Whole Loan with respect to which, as of any date of determination, the Controlling Class Representative or
any Majority Controlling Class Certificateholder is a Borrower Party. As of the Closing Date, there are no Excluded Mortgage Loans
related to the Trust.


 


“Excluded Special Servicer”:
With respect any Excluded Special Servicer Mortgage Loan, a special servicer that is not a Borrower Party and satisfies all of
the eligibility requirements applicable to the special servicer set forth in this Agreement.


 


“Excluded Special Servicer
Mortgage Loan”: Any Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced Whole Loan with respect to which,
as of any date of determination, the Special Servicer has obtained knowledge that it is a Borrower Party.


 


“FDIC”: The Federal
Deposit Insurance Corporation or any successor thereto.


 


“FHLMC”: The Federal
Home Loan Mortgage Corporation, or any successor thereto.


 


“Final Asset Status Report”:
With respect to any Specially Serviced Loan, each related Asset Status Report, together with such other data or supporting information
provided by the Special Servicer to the Directing Holder, which shall not include any communication (other


 






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than the related Asset
Status Report) between the Special Servicer and the Directing Holder with respect to such Specially Serviced Loan; provided
that no Asset Status Report shall be considered to be a Final Asset Status Report unless, if no Control Termination Event has occurred
and is continuing, the Directing Holder has either finally approved of and consented to the actions proposed to be taken in connection
therewith, or has exhausted all of its rights of approval and consent pursuant to this Agreement in respect of such action, or
has been deemed to have approved or consented to such action or the Asset Status Report is otherwise implemented by the Special
Servicer in accordance with this Agreement.


 


“Final Dispute Resolution
Election Notice”: As defined in Section 2.03(l)(iii).


 


“Final Recovery Determination”:
With respect to any Specially Serviced Loan, Serviced REO Loan or any Mortgage Loan subject to repurchase by the related Mortgage
Loan Seller pursuant to Section 2.03(e) of this Agreement, or in the case of a Whole Loan, subject to a purchase pursuant
to the applicable Intercreditor Agreement, or any Mortgage Loan or Whole Loan subject to purchase pursuant to any related mezzanine
intercreditor agreement, the recovery of all Insurance Proceeds, Liquidation Proceeds, the related Purchase Price and other payments
or recoveries (including proceeds of the final sale of any Serviced REO Property) which the Master Servicer (or in the case of
a Specially Serviced Loan or Serviced REO Loan, the Special Servicer), in its reasonable judgment, and, if no Consultation Termination
Event has occurred and is continuing, in consultation with the Directing Holder, as evidenced by a certificate of a Servicing Officer
delivered to the Trustee, the Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer and the Custodian
(and the Master Servicer, if the certificate is from the Special Servicer), expects to be finally recoverable. If no Control Termination
Event has occurred and is continuing, the Directing Holder shall have ten (10) Business Days to review and approve each such recovery
determination; provided that if the Directing Holder fails to approve or disapprove any recovery determination within ten
(10) Business Days of receipt of the initial recovery determination, such consent shall be deemed given. The Master Servicer shall
maintain records, prepared by a Servicing Officer, of each Final Recovery Determination until the earlier of (i) its termination
as the Master Servicer hereunder and the transfer of such records to a successor servicer and (ii) five years following the
termination of the Trust Fund.


 


“Financial Market Publisher”:
Blackrock Financial Management, Inc., Bloomberg Financial Markets, L.P., Trepp, LLC, Intex Solutions, Inc., Interactive Data Corporation,
Markit LLC and Thomson Reuters Corporation or any successor entities thereof.


 


“Fitch”: Fitch Ratings,
Inc. or its successor in interest. If neither such rating agency nor any successor remains in existence, “Fitch” shall
be deemed to refer to such other nationally recognized statistical rating agency or other comparable Person reasonably designated
by the Depositor, notice of which designation shall be given to the other parties hereto, and specific ratings of Fitch herein
referenced shall be deemed to refer to the equivalent ratings of the party so designated.


 


“FNMA”: The Federal
National Mortgage Association or any successor thereto.


 


“Form 8-K”: A current
report on Form 8-K under the Exchange Act or such successor form as the Commission may specify from time to time.


 






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“Form 8-K Disclosure Information”:
As defined in Section 10.09 of this Agreement.


 


“GACC”: German American
Capital Corporation, in its capacity as a Mortgage Loan Seller, and its successors in interest.


 


“GACC Indemnification Agreement”:
The agreement dated as of the Pricing Date, between GACC, the Depositor, the Underwriters and the Initial Purchasers.


 


“GACC Mortgage Loans”:
Each Mortgage Loan transferred and assigned to the Depositor pursuant to the GACC Purchase Agreement.


 


“GACC Purchase Agreement”:
The Mortgage Loan Purchase Agreement dated and effective the Pricing Date, between GACC and the Depositor.


 


“Gain-on-Sale Proceeds”:
With respect to any Mortgage Loan (and with respect to any Non-Serviced Mortgage Loan only the pro rata share of such proceeds
allocated to the Trust pursuant to the terms of the related Intercreditor Agreement) or Serviced Companion Loan, the excess of
(i) Net Liquidation Proceeds of such Mortgage Loan, Serviced Companion Loan or related Serviced REO Property, over (ii) the
amount that would have been received if a principal payment and all other amounts due in full had been made with respect to such
Mortgage Loan or Serviced Companion Loan on the Due Date immediately following the date on which such proceeds were received.


 


“Gain-on-Sale Reserve Account”:
The segregated non-interest bearing trust account or sub-account created and maintained by the Certificate Administrator pursuant
to Section 3.05(i) of this Agreement for the Certificateholders and, in the case of a Serviced Companion Loan, the
Serviced Companion Loan Noteholders, which shall be entitled “Wells Fargo Bank, National Association, as Certificate Administrator,
for the benefit of Wilmington Trust, National Association, as Trustee, for the benefit of the Holders of DBJPM 2016-C1 Mortgage
Trust Commercial Mortgage Pass-Through Certificates, Series 2016-C1 and, if applicable, Serviced Companion Loan Noteholders, Gain-on-Sale
Reserve Account.” The Gain-on-Sale Reserve Account must be an Eligible Account or a sub-account of an Eligible Account and
will be an asset of the Lower-Tier REMIC.


 


“General Special Servicer”:
As defined in Section 3.22(h) of this Agreement.


 


“Global Certificates”:
Each of the Publicly Offered Global Certificates, Regulation S Global Certificates or Rule 144A Global Certificates if
and so long as such class of Certificates is registered in the name of a nominee of the Depository.


 


“Hagerstown Premium Outlets
Companion Loans”: As defined in the Preliminary Statement.


 


“Hagerstown Premium Outlets
Mortgage Loan”: As defined in the Preliminary Statement.


 






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“Hagerstown Premium Outlets
Pari Passu Note A-1”: The promissory note designated as Note A-1, which evidences a portion of the Hagerstown Premium
Outlets Whole Loan. The Hagerstown Premium Outlets Pari Passu Note A-1 is included in the Trust Fund and is pari passu in
right of payment to the Hagerstown Premium Outlets Pari Passu Note A-2, the Hagerstown Premium Outlets Pari Passu Note A-3
and the Hagerstown Premium Outlets Pari Passu Note A-4, as set forth in the related Intercreditor Agreement. The Hagerstown
Premium Outlets Pari Passu Note A-1 is a Mortgage Loan.


 


“Hagerstown Premium Outlets
Pari Passu Note A-2”: The promissory note designated as Note A-2, which evidences a portion of the Hagerstown Premium
Outlets Whole Loan. The Hagerstown Premium Outlets Pari Passu Note A-2 is not included in the Trust Fund and is pari passu
in right of payment to the Hagerstown Premium Outlets Pari Passu Note A-1, the Hagerstown Premium Outlets Pari Passu Note A-3
and the Hagerstown Premium Outlets Pari Passu Note A-4, as set forth in the related Intercreditor Agreement. The Hagerstown
Premium Outlets Pari Passu Note A-2 is held by GACC.


 


“Hagerstown Premium Outlets
Pari Passu Note A-3”: The promissory note designated as Note A-3, which evidences a portion of the Hagerstown Premium
Outlets Whole Loan. The Hagerstown Premium Outlets Pari Passu Note A-3 is not included in the Trust Fund and is pari passu
in right of payment to the Hagerstown Premium Outlets Pari Passu Note A-1, the Hagerstown Premium Outlets Pari Passu Note A-2
and the Hagerstown Premium Outlets Pari Passu Note A-4, as set forth in the related Intercreditor Agreement. The Hagerstown
Premium Outlets Pari Passu Note A-3 is held by GACC.


 


“Hagerstown Premium Outlets
Pari Passu Note A-4”: The promissory note designated as Note A-4, which evidences a portion of the Hagerstown Premium
Outlets Whole Loan. The Hagerstown Premium Outlets Pari Passu Note A-4 is not included in the Trust Fund and is pari passu
in right of payment to the Hagerstown Premium Outlets Pari Passu Note A-1, the Hagerstown Premium Outlets Pari Passu Note A-2
and the Hagerstown Premium Outlets Pari Passu Note A-3, as set forth in the related Intercreditor Agreement. The Hagerstown
Premium Outlets Pari Passu Note A-4 is held by GACC.


 


“Hagerstown Premium Outlets
Pari Passu Note A-2 Securitization Date”: With respect to the Hagerstown Premium Outlets Whole Loan, the date on which
the Hagerstown Premium Outlets Pari Passu Note A-2 is included in a securitization trust, provided that the related Companion
Loan Noteholder provides each of the Depositor, the Master Servicer, the Special Servicer, the Certificate Administrator and the
Trustee (in each case only to the extent such party will not also be a party to the related Other Securitization) with notice in
accordance with the terms of the related Intercreditor Agreement that the Hagerstown Premium Outlets Pari Passu Note A-2 is to
be included in such Other Securitization, which notice shall include contact information for the related Other Servicer, the Other
Special Servicer and the Other Trustee.


 


“Hagerstown Premium Outlets
Pooling and Servicing Agreement”: This Agreement, for so long as the Hagerstown Premium Outlets Whole Loan is serviced
pursuant to this Agreement and, on and after the Hagerstown Premium Outlets Pari Passu Note A-2 Securitization Date, the related
Other Pooling and Servicing Agreement for the Hagerstown Premium Outlets Pari Passu Note A-2.


 






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“Hagerstown Premium Outlets
Service Providers”: With respect to the Hagerstown Premium Outlets Whole Loan, (i) prior to the Hagerstown Premium Outlets
Pari Passu Note A-2 Securitization Date, the Trustee, Master Servicer, Special Servicer and any related sub-servicer hereunder
and (ii) on and after the Hagerstown Premium Outlets Pari Passu Note A-2 Securitization Date, the related Other Trustee, Other
Servicer, Other Special Servicer and any related sub-servicer, as applicable, and any other Person that makes principal and/or
interest advances in respect of the Hagerstown Premium Outlets Pari Passu Companion Loans or property advances in respect of the
Hagerstown Premium Outlets Whole Loan pursuant to the related Other Pooling and Servicing Agreement.


 


“Hagerstown Premium Outlets
Whole Loan”: The Hagerstown Premium Outlets Companion Loans, together with the Hagerstown Premium Outlets Mortgage Loan.
References herein to the Hagerstown Premium Outlets Whole Loan shall be construed to refer to the aggregate indebtedness under
the Hagerstown Premium Outlets Pari Passu Note A-1, the Hagerstown Premium Outlets Pari Passu Note A-2, the Hagerstown Premium
Outlets Pari Passu Note A-3 and the Hagerstown Premium Outlets Pari Passu Note A-4.


 


“Hall Office Park A1/G1/G3
Companion Loan”: As defined in the Preliminary Statement.


 


“Hall Office Park A1/G1/G3
Mortgage Loan”: As defined in the Preliminary Statement.


 


“Hall Office Park A1/G1/G3
Pari Passu Note A-1”: The promissory note designated as Note A-1, which evidences a portion of the Hall Office Park
A1/G1/G3 Whole Loan. The Hall Office Park A1/G1/G3 Pari Passu Note A-1 is included in the Trust Fund and is pari passu in
right of payment to the Hall Office Park A1/G1/G3 Pari Passu Note A-2, as set forth in the related Intercreditor Agreement. The
Hall Office Park A1/G1/G3 Pari Passu Note A-1 is a Mortgage Loan.


 


“Hall Office Park A1/G1/G3
Pari Passu Note A-2”: The promissory note designated as Note A-2, which evidences a portion of the Hall Office Park
A1/G1/G3 Whole Loan. The Hall Office Park A1/G1/G3 Pari Passu Note A-2 is not included in the Trust Fund and is pari passu
in right of payment to the Hall Office Park A1/G1/G3 Pari Passu Note A-1, as set forth in the related Intercreditor Agreement.
As of the Closing Date, the Hall Office Park A1/G1/G3 Pari Passu Note A-2 is held by GACC.


 


“Hall Office Park A1/G1/G3
Whole Loan”: The Hall Office Park A1/G1/G3 Companion Loan, together with the Hall Office Park A1/G1/G3 Mortgage Loan.
References herein to the Hall Office Park A1/G1/G3 Whole Loan shall be construed to refer to the aggregate indebtedness under the
Hall Office Park A1/G1/G3 Pari Passu Note A-1 and the Hall Office Park A1/G1/G3 Pari Passu Note A-2.


 


“Hazardous Materials”:
Any dangerous, toxic or hazardous pollutants, chemicals, wastes, or substances, including, without limitation, those so identified
pursuant to the Comprehensive Environmental Response, Compensation and Liability Act, 42 U.S.C. Section 9601 et seq.,
or any other environmental laws now existing, and specifically including, without limitation, asbestos and asbestos-containing
materials, polychlorinated biphenyls


 






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(“PCBs”), radon gas, petroleum and petroleum products, urea formaldehyde
and any substances classified as being “in inventory,” “usable work in process” or similar classification
which would, if classified as unusable, be included in the foregoing definition.


 


“Holder”: With respect
to any Certificate, a Certificateholder; with respect to any Lower-Tier Regular Interest, the Trustee.


 


“Indemnification Agreements”:
Each of the GACC Indemnification Agreement and JPMCB Indemnification Agreement.


 


“Indemnified Party”:
As defined in Section 8.05(d), Section 8.05(g) or Section 8.05(h), as applicable, of this Agreement,
as the context requires.


 


“Indemnifying Party”:
As defined in Section 8.05(d), Section 8.05(g) or Section 8.05(h), as applicable, of this Agreement,
as the context requires.


 


“Independent”: When
used with respect to any specified Person, any such Person who (i) does not have any direct financial interest, or any material
indirect financial interest, in any of the Depositor, the Trustee, the Certificate Administrator, the Master Servicer, the Special
Servicer, any Directing Holder, the Controlling Class Representative, any Borrower or Manager or any Affiliate thereof, and (ii) is
not connected with any such Person thereof as an officer, employee, promoter, underwriter, trustee, partner, director or Person
performing similar functions.


 


“Independent Contractor”:
Either (i) any Person that would be an “independent contractor” with respect to the applicable Trust REMIC within
the meaning of Section 856(d)(3) of the Code if such Trust REMIC were a real estate investment trust (except that the ownership
tests set forth in that section shall be considered to be met by any Person that owns, directly or indirectly, 35% or more of any
Class or 35% or more of the aggregate value of all Classes of Certificates), provided that such Trust REMIC does not receive
or derive any income from such Person and the relationship between such Person and such Trust REMIC is at arm’s length, all
within the meaning of Treasury Regulations Section 1.856-4(b)(5) (except neither the Master Servicer nor the Special Servicer
shall be considered to be an Independent Contractor under the definition in this clause (i) unless an Opinion of Counsel
(at the expense of the party seeking to be deemed an Independent Contractor) addressed to the Master Servicer or the Special Servicer,
as applicable, the Certificate Administrator and the Trustee has been delivered to the Certificate Administrator to that effect)
or (ii) any other Person (including the Master Servicer and the Special Servicer) if the Master Servicer or the Special Servicer,
as applicable, on behalf of itself, the Certificate Administrator and the Trustee has received an Opinion of Counsel (at the expense
of the party seeking to be deemed an Independent Contractor) to the effect that the taking of any action in respect of any Serviced
REO Property by such Person, subject to any conditions therein specified, that is otherwise herein contemplated to be taken by
an Independent Contractor will not cause such Serviced REO Property to cease to qualify as “foreclosure property” within
the meaning of Section 860G(a)(8) of the Code (determined without regard to the exception applicable for purposes of Section 860D(a) of
the Code) or cause any income realized in respect of such Serviced REO Property to fail to qualify as Rents from Real Property
(provided that such income would otherwise so qualify).


 






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“Individual Certificate”:
Any Certificate in definitive, fully registered physical form without interest coupons.


 


“Initial Purchasers”:
Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and Wells Fargo Securities, LLC and their respective successors in interest.


 


“Initial Resolution Period”:
As defined in Section 2.03(e) of this Agreement.


 


“Initial Requesting Certificateholder”:
The first Certificateholder or Certificate Owner to deliver a Repurchase Request as described in Section 2.03(k) with respect
to a Mortgage Loan. For the avoidance of doubt, there may not be more than one Initial Requesting Certificateholder with respect
to any Mortgage Loan.


 


“Institutional Accredited
Investor”: An institution that is an “accredited investor” within the meaning of Rule 501(a)(l), (2),
(3) or (7) under the Act.


 


“Insurance Proceeds”:
Proceeds of any fire and hazard insurance policy, title policy or other insurance policy relating to a Mortgage Loan or Serviced
Whole Loan (including any amounts paid by the Master Servicer pursuant to Section 3.08 of this Agreement).


 


“Intercreditor Agreement”:
With respect to any Whole Loan, the related intercreditor, co-lender or similar agreement in effect from time to time by and between
(a) the holder of the related Mortgage Loan(s) and the holder of the related Subordinate Companion Loan(s) relating to the relative
rights of such holders or (b) the holders of the related Mortgage Loan and the related Serviced Pari Passu Companion Loan(s) or
Non-Serviced Companion Loan(s) relating to the relative rights of such holders. The intercreditor or co-lender agreements related
to each of the 787 Seventh Avenue Whole Loan, the Williamsburg Premium Outlets Whole Loan, the Naples Grande Beach Resort Whole
Loan, the 225 Liberty Street Whole Loan, the 600 Broadway Whole Loan, the SLS South Beach Whole Loan, the 7700 Parmer Whole Loan,
the Columbus Park Crossing Whole Loan, the Hagerstown Premium Outlets Whole Loan, the Hall Office Park A1/G1/G3 Whole Loan and
the Renaissance Providence Downtown Hotel Whole Loan, shall each be an Intercreditor Agreement.


 


“Interest Accrual Amount”:
With respect to any Distribution Date and any Class of Regular Certificates, an amount equal to interest for the related Interest
Accrual Period accrued at the Pass-Through Rate for such Class on the related Certificate Balance or Notional Amount, as applicable,
outstanding immediately prior to such Distribution Date. Calculations of interest due in respect of such Classes of Regular Certificates
shall be made on the basis of a 360-day year consisting of twelve 30-day months.


 


“Interest Accrual Period”:
With respect to each Class of Regular Certificates, for each Distribution Date, the calendar month immediately preceding the month
in which such Distribution Date occurs.


 


“Interest Distribution Amount”:
With respect to any Distribution Date and with respect to each Class of Regular Certificates, an amount equal to (A) the
sum of (i) the Interest Accrual Amount with respect to such Class for such Distribution Date and (ii) the Interest
Shortfall, if any, with respect to such Class for such Distribution Date, less (B) any Excess


 






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Prepayment Interest Shortfall
allocated to such Class on such Distribution Date pursuant to Section 4.01(h).


 


“Interest Reserve Account”:
The segregated non-interest bearing trust account or sub-account created and maintained by the Certificate Administrator pursuant
to Section 3.05(e) of this Agreement, which shall be entitled “Wells Fargo Bank, National Association, as Certificate
Administrator, for the benefit of Wilmington Trust, National Association, as Trustee, for the benefit of the Holders of DBJPM 2016-C1
Mortgage Trust Commercial Mortgage Pass-Through Certificates, Series 2016-C1, Interest Reserve Account” and which must be
an Eligible Account or a sub-account of an Eligible Account. The Interest Reserve Account shall be an asset of the Lower-Tier REMIC.


 


“Interest Shortfall”:
On any Distribution Date for any Class of Regular Certificates, the amount of interest required to be distributed to the Holders
of such Class pursuant to Section 4.01(b) of this Agreement on such Distribution Date minus the amount of interest actually
distributed to such Holders pursuant to such Section, if any.


 


“Interested Person”:
As of any date of determination, the Depositor, the Master Servicer, the Special Servicer, the Excluded Special Servicer, if any,
the Certificate Administrator, the Trustee, the Operating Advisor, the Asset Representations Reviewer, the Directing Holder, any
Companion Loan Noteholder, any Certificateholder, any Borrower, any Mortgage Loan Seller, any holder of a related mezzanine loan,
any Manager, any Independent Contractor engaged by the Special Servicer pursuant to Section 3.15 of this Agreement,
or any Person known to a Servicing Officer of the Special Servicer to be an Affiliate of any of them.


 


“Inquiries”: As
defined in Section 4.02(c) of this Agreement.


 


“Intralinks Site”:
The internet website, which shall initially be “www.intralinks.com”, used by the Depositor and Mortgage Loan Sellers
to accept and upload the Diligence Files.


 


“Investment”: Any
direct or indirect ownership interest in any security, note or other financial instrument related to the Certificates or issued
or executed by a Borrower, a loan directly or indirectly secured by any of the foregoing or a hedging transaction (however structured)
that references or relates to any of the foregoing.


 


“Investment Account”:
As defined in Section 3.07(a) of this Agreement.


 


“Investment Decisions”:
Investment, trading, lending or other financial decisions, strategies or recommendations with respect to Investments, whether on
behalf of the Master Servicer or any Affiliate thereof, any Special Servicer or any Affiliate thereof, the Operating Advisor or
any Affiliate thereof, the Asset Representations Reviewer or any Affiliate thereof, the Certificate Administrator or any Affiliate
thereof, or the Trustee or any Affiliate thereof, as applicable, or any Person on whose behalf the Master Servicer or any Affiliate
thereof, any Special Servicer or any Affiliate thereof, the Operating Advisor or any Affiliate thereof, the Asset Representations
Reviewer or any Affiliate thereof, the Certificate Administrator or any Affiliate thereof, or the Trustee or any Affiliate thereof,
as applicable, has discretion in connection with Investments.


 






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“Investment Representation
Letter”: As defined in Section 5.02(c)(i)(A) of this Agreement.


 


“Investor Certification”:
A certificate (which may be in electronic form) substantially in the form of Exhibit L-1A, Exhibit L-1B, Exhibit
L-1C or Exhibit L-1D to this Agreement or in the form of an electronic certification on the Certificate Administrator’s
Website (which may be a “click-through”), representing (i) that such Person executing the certificate is a Certificateholder,
the Directing Holder (to the extent such Person is not a Certificateholder), a beneficial owner of a Certificate, a prospective
purchaser of a Certificate or a Companion Loan Noteholder (or any investment advisor or manager or other representative of the
foregoing), (ii) that either (a) such Person is not a Borrower Party, in which case
such Person shall have access to all the reports and information made available to Certificateholders via the Certificate Administrator’s
Website hereunder, or (b) such Person is a Borrower Party in which case (1) if such Person is the Directing Holder or a Controlling
Class Certificateholder, such Person shall have access to all the reports and information made available to Certificateholders
via the Certificate Administrator’s Website hereunder other than any Excluded Information as set forth herein, or (2) if
such Person is not the Directing Holder or a Controlling Class Certificateholder, such Person shall only receive access to the
Distribution Date Statements prepared by the Certificate Administrator, (iii) that such Person has received a copy of the
final Prospectus and (iv) such Person agrees to keep any Privileged Information confidential and will not violate any securities
laws; provided, however, that any Excluded Controlling Class Holder (i) shall be permitted to obtain, upon request
in accordance with Section 4.02(b) of this Agreement any Excluded Information relating to any Excluded Controlling Class
Loan with respect to which such Excluded Controlling Class Holder is not a Borrower Party (if such Excluded Information is not
otherwise available to such Excluded Controlling Class Holder via the Certificate Administrator’s Website on account of it
constituting Excluded Information) from the Master Servicer (with respect to non-Specially Serviced Loans) or the Special Servicer
(with respect to Specially Serviced Loans), in each case, to the extent in the possession of the Master Servicer or Special Servicer,
as applicable and (ii) shall be considered a Privileged Person for all other purposes, except with respect to its ability to obtain
information with respect to any related Excluded Controlling Class Loan.


 


“Investor Q&A Forum”:
As defined in Section 4.02(c) of this Agreement.


 


“Investor Registry”:
As defined in Section 4.02(d) of this Agreement.


 


“IO Group YM Distribution
Amount”: As defined in Section 4.01(d) of this Agreement.


 


“IRS”: The Internal
Revenue Service.


 


“JPMCB”: JPMorgan
Chase Bank, National Association, in its capacity as a Mortgage Loan Seller, and its successors in interest.


 


“JPMCB Indemnification Agreement”:
The agreement dated as of the Pricing Date, among JPMCB, the Depositor, the Underwriters and the Initial Purchasers.


 






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“JPMCB Mortgage Loans”:
Each Mortgage Loan transferred and assigned to the Depositor pursuant to the JPMCB Purchase Agreement.


 


“JPMCB Purchase Agreement”:
The Mortgage Loan Purchase Agreement dated and effective the Pricing Date, between JPMCB and the Depositor.


 


“KBRA”: Kroll Bond
Rating Agency, Inc., or its successor in interest. If neither such rating agency nor any successor remains in existence, “KBRA”
shall be deemed to refer to such other nationally recognized statistical rating agency or other comparable Person reasonably designated
by the Depositor, notice of which designation shall be given to the other parties hereto, and specific ratings of KBRA herein referenced
shall be deemed to refer to the equivalent ratings of the party so designated.


 


“Late Collections”:
With respect to any Mortgage Loan or Serviced Whole Loan, all amounts received thereon during any Collection Period (or the related
grace period), whether as payments, Insurance Proceeds, Condemnation Proceeds, Liquidation Proceeds or otherwise, which represent
late payments or collections of principal or interest due in respect of such Mortgage Loan or Serviced Whole Loan (without regard
to any acceleration of amounts due thereunder by reason of default) on a Due Date in a previous Collection Period and not previously
recovered. With respect to any REO Loan, all amounts received in connection with the related REO Property during any Collection
Period (including any grace period applicable under the original Mortgage Loan or Serviced Whole Loan), whether as Insurance Proceeds,
Condemnation Proceeds, Liquidation Proceeds, REO Proceeds or otherwise, which represent late collections of principal or interest
due or deemed due in respect of such REO Loan or the predecessor Mortgage Loan or Serviced Whole Loan (without regard to any acceleration
of amounts due under the predecessor Mortgage Loan or Serviced Whole Loan by reason of default) on a Due Date in a previous Collection
Period and not previously recovered. The term “Late Collections” shall specifically exclude Penalty Charges.


 


“Liquidation Expenses”:
All customary, reasonable and necessary “out of pocket” costs and expenses incurred by the Master Servicer, the Special
Servicer, the Certificate Administrator and the Trustee in connection with the liquidation of any Mortgage Loan or Serviced Whole
Loan or the liquidation of a Serviced REO Property or the sale of any Mortgage Loan or Serviced Whole Loan pursuant to Section 3.16
or Section 9.01 of this Agreement (including, without limitation, legal fees and expenses, committee or referee fees,
and, if applicable, brokerage commissions, and conveyance taxes).


 


“Liquidation Fee”:
A fee payable to the Special Servicer (i) with respect to each Specially Serviced Loan or Serviced REO Loan, (ii) with
respect to each Mortgage Loan repurchased by a Mortgage Loan Seller (except as specified in the following paragraph), or (iii)
with respect to each Defaulted Loan that is a Non-Serviced Mortgage Loan sold by the Special Servicer in accordance with Section
3.16(b) of this Agreement; provided, however, for clarification, should such Non-Serviced Mortgage Loan be sold
by the Other Special Servicer, then the Liquidation Fee shall be paid to such Other Special Servicer, in each case as to which
the Special Servicer obtains a full, partial or discounted payoff from the related Borrower, a loan purchaser or Mortgage Loan
Seller, as applicable, or any Liquidation Proceeds with respect thereto (in any case, other than amounts for which a Workout Fee
has been paid, or will be payable), equal to:


 






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(a)     the lesser of:


 


 (i)     the product of 1.0%
and the proceeds of such full, partial or discounted payoff or the Net Liquidation Proceeds related to such liquidated or repurchased
Mortgage Loan or Specially Serviced Loan, as the case may be, in each case exclusive of any portion of such payoff or Net Liquidation
Proceeds that represents Penalty Charges;


 


 (ii)     $1,000,000; and


 


 (iii)     any applicable
cap pursuant to Section 3.12(c) of this Agreement.


 


(b)     with respect to
any particular liquidation (or partial liquidation), as reduced by the amount of any and all related Offsetting Modification Fees
received by the Special Servicer as additional servicing compensation relating to such Specially Serviced Loan, Serviced REO Loan
or Mortgage Loan.


 


No Liquidation Fee shall be payable:


 


(a) with respect to clause (v) of
the definition of Liquidation Proceeds;


 


(b) with respect to any existing
mezzanine indebtedness or any mezzanine indebtedness that may exist on a future date, in connection with the purchase of the related
Mortgage Loan by a mezzanine lender if the purchase of the Mortgage Loan occurred within 90 days after the first time that such
holder’s option to purchase such Mortgage Loan becomes exercisable; provided, that even if the purchase occurs before
such expiration the Liquidation Fee shall be payable to the extent paid by, and collected from, the related Borrower or the related
mezzanine lender;


 


(c) the purchase of the related Mortgage
Loan by the related Companion Loan Noteholder pursuant to the related Intercreditor Agreement within 90 days after the first time
that such Companion Loan Noteholder’s option to purchase such Mortgage Loan becomes exercisable;


 


(d) in the case of a repurchase
or replacement of a Mortgage Loan (other than an REO Loan) by the applicable Mortgage Loan Seller pursuant to the related Mortgage
Loan Purchase Agreement, if the applicable Mortgage Loan Seller repurchases or replaces such Mortgage Loan within the Initial Resolution
Period (and giving effect to any applicable Resolution Extension Period);


 


(e) with respect to any Serviced
Companion Loan that is the subject of an Other Securitization, to the Special Servicer under this Agreement in connection with
(A) a repurchase or replacement of such Serviced Companion Loan by the applicable Mortgage Loan Seller due to a breach of a representation
or warranty or a document defect under the related mortgage loan purchase agreement related to the Other Pooling and Servicing
Agreement prior to the expiration of the cure period (including any applicable extension thereof) set forth therein or (B) a purchase
of the Serviced Companion Loan pursuant to a clean-up call or similar liquidation under the related Other Pooling and Servicing
Agreement;


 






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(f) in connection with the purchase
of any Defaulted Loan by the Special Servicer or any Affiliate thereof or the Directing Holder or any Affiliate thereof if such
purchase occurred within 90 days after the transfer of the Defaulted Loan to special servicing;


 


(g) in connection with a Loss
of Value Payment by a Mortgage Loan Seller, if the applicable Mortgage Loan Seller makes such Loss of Value Payment within the
Initial Resolution Period (and giving effect to any applicable extension period beyond the end of the Initial Resolution Period
set forth in Section 2.03(e) of this Agreement); and


 


(h) if a Mortgage Loan or Serviced
Whole Loan becomes a Specially Serviced Loan only because of an event described in clause (a) of the definition of “Specially
Serviced Loan” as a result of a payment default at maturity and the related Liquidation Proceeds are received within 3 months
following the related maturity date as a result of the related Mortgage Loan or Serviced Whole Loan being refinanced or otherwise
repaid in full (provided that the Special Servicer may collect from the related borrower and retain (x) a liquidation fee, (y)
such other fees as are provided for in the related Loan Documents and (z) other appropriate fees in connection with such liquidation).


 


“Liquidation Proceeds”:
Cash amounts (other than Insurance Proceeds and Condemnation Proceeds and REO Proceeds) received by or paid to the Master Servicer
or the Special Servicer in connection with: (i) the liquidation of a Mortgaged Property or other collateral constituting security
for a Defaulted Loan, through trustee’s sale, foreclosure sale, disposition of REO Property or otherwise, exclusive of any
portion thereof required to be released to the related Borrower in accordance with applicable law and the terms and conditions
of the related Mortgage Note and Mortgage; (ii) the realization upon any deficiency judgment obtained against a Borrower;
(iii) the sale of a Defaulted Loan; (iv) the repurchase of a Mortgage Loan (or related REO Loan) by the applicable Mortgage
Loan Seller pursuant to the related Mortgage Loan Purchase Agreement; (v) the purchase of all the Mortgage Loans and all property
acquired in respect of any Mortgage Loan by the Sole Certificateholder, the Certificateholder owning a majority of the Percentage
Interests in the Controlling Class, the Special Servicer or the Master Servicer pursuant to Section 9.01 of this Agreement;
(vi) with respect to any existing mezzanine indebtedness or any mezzanine indebtedness that may exist on a future date, the purchase
of the related Mortgage Loan by a mezzanine lender; (vii) in the case of a Mortgage Loan that is part of a Whole Loan, the
purchase of such Mortgage Loan by a related Companion Loan Noteholder, or the applicable designee, as applicable, pursuant to the
related Intercreditor Agreement; or (viii) the transfer of any Loss of Value Payments from the Loss of Value Reserve Fund
to the Collection Account in accordance with Section 3.06(e) of this Agreement (provided that, for the purpose
of determining the amount of the Liquidation Fee (if any) payable to the Special Servicer in connection with such Loss of Value
Payment, the full amount of such Loss of Value Payment shall be deemed to constitute “Liquidation Proceeds” from which
the Liquidation Fee (if any) is payable as of such time such Loss of Value Payment is made by the applicable Mortgage Loan Seller).
With respect to the Mortgaged Property or Mortgaged Properties securing any Non-Serviced Mortgage Loan or Non-Serviced Companion
Loan, only the portion of such amounts payable to the holder of the related Non-Serviced Mortgage Loan will be included in Liquidation
Proceeds.


 






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“Loan Agreement”:
With respect to any Mortgage Loan or Serviced Whole Loan, the loan agreement, if any, between the related Originator and the Borrower,
pursuant to which such Mortgage Loan was made.


 


“Loan Documents”:
With respect to any Mortgage Loan or Serviced Whole Loan, the documents executed or delivered in connection with the origination
or any subsequent modification of such Mortgage Loan or Serviced Whole Loan or subsequently added to the related Mortgage File.


 


“Loan Number”: With
respect to any Mortgage Loan, the loan number by which such Mortgage Loan was identified on the books and records of the Depositor
or any sub-servicer for the Depositor, as set forth in the Mortgage Loan Schedule.


 


“Loan-Specific Directing Holder”:
With respect to a Servicing Shift Whole Loan, the “Controlling Holder”, the “Directing Holder”, “Directing
Lender” or any analogous concept set forth under the related Intercreditor Agreement. Prior to the applicable Servicing Shift
Securitization Date, the “Directing Holder” with respect to the related Servicing Shift Whole Loan will be the holder
of the related Controlling Companion Loan. On and after the applicable Servicing Shift Securitization Date, there will be no Loan-Specific
Directing Holder under the Pooling and Servicing Agreement with respect to the related Servicing Shift Whole Loan. As of the Closing
Date, GACC is expected to be the Loan-Specific Directing Holder with respect to the Hagerstown Premium Outlets Whole Loan.


 


“Lock-Box Account”:
With respect to any Mortgaged Property, if applicable, any account created pursuant to the related Loan Documents to receive revenues
therefrom. Any Lock-Box Account shall be beneficially owned for federal income tax purposes by the Person who is entitled to receive
the reinvestment income or gain thereon in accordance with the terms and provisions of the related Mortgage Loan or Serviced Whole
Loan and Section 3.07 of this Agreement, which Person shall be taxed on all reinvestment income or gain thereon. The
Master Servicer shall be permitted to make withdrawals therefrom for deposit into the related Cash Collateral Accounts in accordance
with the terms of the related Mortgage Loan or Serviced Whole Loan.


 


“Lock-Box Agreement”:
With respect to any Mortgage Loan or Serviced Whole Loan, the lock-box agreement, if any, between the related Originator and the
Borrower, pursuant to which the related Lock-Box Account, if any, may have been established.


 


“Loss of Value Payment”:
As defined in Section 2.03(e) of this Agreement.


 


“Loss of Value Reserve Fund”:
The “outside reserve fund” (within the meaning of Treasury Regulations Section 1.860G-2(h)) designated as such
pursuant to Section 3.05(d) of this Agreement. The Loss of Value Reserve Fund will be part of the Trust Fund but not
part of any Trust REMIC.


 


“Lower-Tier Distribution Account”:
The segregated non-interest bearing trust account or sub-account created and maintained by the Certificate Administrator pursuant
to Section 3.05(b) of this Agreement, which shall be entitled “Wells Fargo Bank, National Association, as Certificate
Administrator, for the benefit of Wilmington Trust, National


 






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Association, as Trustee, for the benefit of the Holders of DBJPM 2016-C1
Mortgage Trust Commercial Mortgage Pass-Through Certificates, Series 2016-C1, Lower-Tier Distribution Account” and which
must be an Eligible Account or a sub-account of an Eligible Account. The Lower-Tier Distribution Account shall be an asset of the
Lower-Tier REMIC.


 


“Lower-Tier Distribution Amount”:
As defined in Section 4.01(a).


 


“Lower-Tier Principal Balance”:
With respect to any Class of Lower-Tier Regular Interests, initially will equal the original principal balance set forth in the
Preliminary Statement herein, and from time to time will equal such amount reduced by the amount of distributions of the Lower-Tier
Distribution Amount allocable to principal and Realized Losses, allocable thereto in all prior periods as described in Section 4.01(f)
of this Agreement, such that at all times the Lower-Tier Principal Balance of a Lower-Tier Regular Interest shall equal the Certificate
Balance of the Corresponding Certificates.


 


“Lower-Tier Regular Interests”:
The Class LA-1 Interest, Class LA-2 Interest, Class LA-3A Interest, Class LA-3B Interest, Class LA-SB Interest, Class LA-4 Interest,
Class LA-M Interest, Class LB Interest, Class LC Interest, Class LD Interest, Class LE Interest, Class LF Interest, Class LG Interest
and Class LH Interest issued by the Lower-Tier REMIC and held by the Trustee as assets of the Upper-Tier REMIC. Each Lower-Tier
Regular Interest (i) is designated as a “regular interest” in the Lower-Tier REMIC, (ii) relates to its Corresponding
Certificates and Corresponding Class X Component, (iii) is uncertificated, (iv) has an initial Lower-Tier Principal Balance
as set forth in the Preliminary Statement herein, (v) has a Pass-Through Rate equal to the WAC Rate, (vi) has a “latest
possible maturity date,” within the meaning of Treasury Regulations Section 1.860G-1(a), that is the Rated Final Distribution
Date and (vii) is entitled to the distributions in the amounts and at the times specified in Section 4.01(d) of this
Agreement.


 


“Lower-Tier REMIC”:
A segregated asset pool within the Trust Fund consisting of the Mortgage Loans, collections thereon, the Trust’s interest
in any REO Property acquired in respect thereof, amounts related thereto held from time to time in the Collection Account and the
Lower-Tier Distribution Account, the REO Account (to the extent of the Trust Fund’s interest therein), related amounts in
the Interest Reserve Account, amounts held from time to time and the Gain-on-Sale Reserve Account (to the extent of the Trust Fund’s
interest therein) in respect thereof and all other property included in the Trust Fund (other than the Loss-of-Value Reserve Fund)
that is not in the Upper-Tier REMIC.


 


“MAI”: Member of
the Appraisal Institute.


 


“Major Decision”:
Shall mean any of the following:


 


(a)     any proposed or
actual foreclosure upon or comparable conversion (which may include acquisitions of an REO Property) of the ownership of properties
securing such of the Mortgage Loans (other than a Non-Serviced Mortgage Loan) or Serviced Whole Loan as come into and continue
in default;


 


(b)     any modification,
consent to a modification or waiver of any monetary term or material non-monetary term (including, without limitation, the timing
of


 






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payments and acceptance of discounted payoffs but excluding the timing or acceptance related to late payment charges or Default
Interest) of a Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced Whole Loan or any extension of the Maturity
Date of any Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced Whole Loan;


 


(c)     any sale of a Defaulted
Loan (that is not a Non-Serviced Mortgage Loan), an REO Property (in each case, other than in connection with the termination of
the Trust Fund) or a Defaulted Loan that is a Non-Serviced Mortgage Loan that the Special Servicer is permitted to sell in accordance
with the proviso in Section 3.16(b) of this Agreement, in each case for less than the applicable Purchase Price;


 


(d)     any determination
to bring an REO Property into compliance with applicable environmental laws or to otherwise address Hazardous Materials located
at an REO Property;


 


(e)     any release of collateral
or any acceptance of substitute or additional collateral for a Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced
Whole Loan, or any consent to either of the foregoing, other than as required pursuant to the specific terms of the related Mortgage
Loan (other than a Non-Serviced Mortgage Loan) or Serviced Whole Loan and for which there is no lender discretion;


 


(f)     any waiver of a
“due-on-sale” or “due-on-encumbrance” clause with respect to a Mortgage Loan or Serviced Whole Loan
or any consent to such a waiver or consent to a transfer of the Mortgaged Property or direct or indirect interests in the Borrower
(including any interests in any applicable mezzanine borrower) or consent to the incurrence of additional debt, other than any
such transfer or incurrence of debt as may be effected without the consent of the lender under the related loan agreement;


 


(g)     any property management
company changes for which the lender is required to consent or approve under the Loan Documents (with respect to a Mortgage Loan
(other than a Non-Serviced Mortgage Loan) or Serviced Whole Loan (i) with a Stated Principal Balance greater than $2,500,000 or
(ii) where the successor property manager is affiliated with the related borrower) or franchise changes for which the lender is
required to consent or approve under the Loan Documents;


 


(h)     releases of any
amount from any escrow accounts, reserve accounts or letters of credit, in each case, held as performance or earn-out escrows or
reserves other than those required pursuant to the specific terms of the related Mortgage Loan (other than a Non-Serviced Mortgage
Loan) or Serviced Whole Loan and for which there is no lender discretion;


 


(i)     any acceptance of
an assumption agreement or any other agreement permitting a transfer of interests in the related Borrower or guarantor releasing
such Borrower or guarantor from liability under a Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced Whole Loan
other than pursuant to the specific terms of such Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced Whole Loan
and for which there is no lender discretion;


 






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(j)      any determination
of an Acceptable Insurance Default;


 


(k)     the determination
of the Special Servicer pursuant to clause (c) or clause (g) of the definition of “Specially Serviced
Loan”;


 


(l)      any acceleration
of a Mortgage Loan or Serviced Whole Loan following a default or an event of default with respect to a Mortgage Loan (other than
a Non-Serviced Mortgage Loan) or such Serviced Whole Loan, any initiation of judicial, bankruptcy or similar proceedings under
the related Loan Documents or with respect to the related Borrower or Mortgaged Property;


 


(m)    any consent to the
incurrence of additional debt or mezzanine debt to the extent lender consent or approval is required under the Loan Documents;


 


(n)     any modification,
waiver or amendment of an intercreditor agreement, co-lender agreement, participation agreement or similar agreement with any mezzanine
lender, holder of a Companion Loan or other subordinate debt holder related to a Mortgage Loan or such Serviced Whole Loan, or
an action to enforce rights with respect thereto other than any non-material modification, waiver or amendment of a non-monetary
term to cure an ambiguity or correct scrivener’s errors;


 


(o)     any proposed modification
or waiver of any material provision in the related Mortgage Loan documents governing the type, nature or amount of insurance coverage
required to be obtained and maintained by the related Borrower;


 


(p)     consents involving
leasing activities (to the extent lender approval is required under the related Loan Documents) if (a) such lease involves a ground
lease or lease of an outparcel or affects an area greater than or equal to the lesser of (i) 20% of leasable space or (ii) 20,000
square feet, (b) such lease involves a tenant or space specifically identified by name or space location in the related Loan Documents
as requiring the consent of the lender for the associated activity, (c) such transaction is not a routine leasing matter for a
customary lease of space for parking, office, retail, warehouse, industrial and/or manufacturing purposes or (d) such transaction
relates to a Specially Serviced Loan; and


 


(q)     approving easements
or rights of way that materially affect the use or value of a Mortgaged Property, the security intended to be provided by the related
Mortgage or the borrower’s ability to make payments with respect to the related Mortgage Loans.


 


For the avoidance of doubt, the Master
Servicer and the Special Servicer (each in such capacity) shall not make or be obligated to make any Major Decisions with respect
to any Non-Serviced Mortgage Loans and the Controlling Class Representative shall have no consent and/or consultation rights regarding
Major Decisions with respect to any Non-Serviced Mortgage Loans, Servicing Shift Mortgage Loans and Excluded Mortgage Loans under
this Agreement.


 


With respect to any Serviced Whole
Loan, for so long as the holder of the related Serviced Companion Loan is the “Controlling Holder”, the “Directing
Holder”, “Directing


 






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Lender” or any analogous concept under the related Intercreditor Agreement, then with respect
to such Serviced Whole Loan, the term “Major Decision” shall mean “Major Decision”, “Major Action”
or any analogous concept under the related Intercreditor Agreement.


 


“Management Agreement”:
With respect to any Mortgage Loan or Serviced Whole Loan, the Management Agreement, if any, by and between the Manager and the
related Borrower, or any successor Management Agreement between such parties.


 


“Manager”: With
respect to any Mortgage Loan or Serviced Whole Loan, any property manager for the related Mortgaged Properties.


 


“Master Servicer”:
Wells Fargo Bank, National Association, or its successor in interest, or any successor master servicer appointed as provided herein.


 


“Master Servicer Decision”:
As defined in Section 3.26(o) of this Agreement.


 


“Master Servicer Remittance
Date”: With respect to any Distribution Date, the Business Day preceding such Distribution Date.


 


“Master Servicer Servicing
Personnel”: The divisions and individuals of the Master Servicer who are involved in the performance of the duties of
the Master Servicer under this Agreement.


 


“Master Servicer Termination
Event”: As defined in Section 7.01(a) of this Agreement.


 


“Master Servicer Website”:
The internet website maintained by the Master Servicer; initially located at “www.wellsfargo.com/com/comintro”.


 


“Master Servicing Fee”:
With respect to each Mortgage Loan and for any Distribution Date, an amount per interest accrual period related to such Mortgage
Loan equal to the product of (i) the respective Master Servicing Fee Rate (adjusted to a monthly rate) and (ii) the Stated
Principal Balance of such Mortgage Loan as of the Due Date in the immediately preceding Collection Period (without giving effect
to payments of principal on such Mortgage Loan on such Due Date). For the avoidance of doubt, with respect to any Subordinate Companion
Loan, no Master Servicing Fee shall accrue or be payable on the principal balance thereof.


 


“Master Servicing Fee Rate”:
With respect to each Mortgage Loan, the rate per annum set forth on Exhibit B to this Agreement.


 


“Material Breach”:
As defined in Section 2.03(e) of this Agreement.


 


“Material Defect”:
As defined in Section 2.03(e) of this Agreement.


 


“Maturity Date”:
With respect to any Mortgage Loan or Serviced Companion Loan as of any date of determination, the date on which the last payment
of principal is due and payable under the related Mortgage Note, after taking into account all Principal Prepayments received prior
to such date of determination, but without giving effect to (i) any acceleration of


 






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the principal of such Mortgage Loan or
Serviced Companion Loan by reason of default thereunder or (ii) any grace period permitted by the related Mortgage Note.


 


“Mediation Rules”:
As defined in Section 2.03(m)(i).


 


“Modification Fees”:
With respect to any Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced Companion Loan, any and all fees with respect
to a modification, restructure, extension, waiver or amendment that modifies, restructures, extends, amends or waives any term
of the related Loan Documents (as evidenced by a signed writing) agreed to by the Master Servicer or the Special Servicer (other
than all Assumption Fees, consent fees, assumption application fees, defeasance fees and fees similar to the foregoing). For the
avoidance of doubt, Special Servicing Fees, Workout Fees and Liquidation Fees due to the Special Servicer in connection with a
modification, restructure, extension, waiver or amendment shall not be considered Modification Fees. For each modification, restructure,
extension, waiver or amendment in connection with working out of a Specially Serviced Loan, the Modification Fees collected from
the related Borrower shall be subject to a cap of 1.0% of the outstanding principal balance of such Mortgage Loan or Serviced Companion
Loan on the closing date of the related modification, restructure, extension, waiver or amendment (prior to giving effect to such
modification, restructure, extension, waiver or amendment); provided that no aggregate cap shall exist in connection with
the amount of Modification Fees which may be collected from the related Borrower with respect to any Specially Serviced Loan or
REO Loan.


 


“Modified Mortgage Loan”:
Any Specially Serviced Loan which has been modified by the Special Servicer pursuant to Section 3.26 of this Agreement
in a manner that:


 


(a)     reduces or delays
the amount or timing of any payment of principal or interest due thereon (other than, or in addition to, bringing current Periodic
Payments with respect to such Mortgage Loan or Serviced Companion Loan), including any reduction in the Periodic Payment;


 


(b)     except as expressly
contemplated by the related Mortgage, results in a release of the lien of the Mortgage on any material portion of the related Mortgaged
Property without a corresponding Principal Prepayment in an amount not less than the fair market value (as is), as determined by
an Appraisal delivered to the Special Servicer (at the expense of the related Borrower and upon which the Special Servicer may
conclusively rely), of the property to be released; or


 


(c)     in the reasonable
good faith judgment of the Special Servicer, otherwise materially impairs the value of the security for such Mortgage Loan or Serviced
Companion Loan or reduces the likelihood of timely payment of amounts due thereon.


 


“Moody’s”:
Moody’s Investors Service, Inc., or its successor in interest. If neither such rating agency nor any successor remains in
existence, “Moody’s” shall be deemed to refer to such other nationally recognized statistical rating agency or
other comparable Person reasonably designated by the Depositor, notice of which designation shall be given to the other parties
hereto, and specific ratings of Moody’s herein referenced shall be deemed to refer to the equivalent ratings of the party
so designated.


 






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“Morningstar”: Morningstar
Credit Ratings, LLC, or any successor in interest. If neither such rating agency nor any successor remains in existence, “Morningstar”
shall be deemed to refer to such other nationally recognized statistical rating agency or other comparable Person reasonably designated
by the Depositor, notice of which designation shall be given to the other parties hereto, and specific ratings of Morningstar herein
referenced shall be deemed to refer to the equivalent ratings of the party so designated.


 


“Mortgage”: The
mortgage, deed of trust or other instrument creating a first lien on or first priority ownership interest in a Mortgaged Property
securing a Mortgage Note.


 


“Mortgage File”:
With respect to any Mortgage Loan or Serviced Companion Loan, collectively, the mortgage documents listed in Section 2.01(a)(i)
through Section 2.01(a)(xxi) of this Agreement pertaining to such particular Mortgage Loan or Serviced Companion Loan and
any additional documents required to be added to such Mortgage File pursuant to the express provisions of this Agreement; provided
that whenever the term “Mortgage File” is used to refer to documents actually received by the Depositor, Trustee, or
Custodian, such term shall not be deemed to include such documents and instruments required to be included therein unless they
are actually so received.


 


“Mortgage Loan”:
Each of the mortgage loans transferred and assigned to the Trustee pursuant to Section 2.01 of this Agreement and from
time to time held in the Trust Fund. The Mortgage Loans originally so transferred, assigned and held are identified on the Mortgage
Loan Schedule as of the Closing Date. Such term shall include any REO Loan, Specially Serviced Loan or any Mortgage Loan that has
been defeased in whole or in part. Such term shall not include Serviced Companion Loans or Non-Serviced Companion Loans but shall
include Non-Serviced Mortgage Loans.


 


“Mortgage Loan Purchase Agreements”:
Each of the GACC Purchase Agreement and the JPMCB Purchase Agreement.


 


“Mortgage Loan Schedule”:
The list of Mortgage Loans included in the Trust Fund as of the Closing Date being attached as Exhibit B to this Agreement,
which list shall set forth the following information with respect to each Mortgage Loan:


 


(a)      the Loan Number;


 


(b)      the Mortgage Loan
name;


 


(c)      the street address
(including city, state and zip code) of the related Mortgaged Property;


 


(d)      the Mortgage Rate
in effect as of the Cut-off Date;


 


(e)      the original principal
balance;


 


(f)       the Stated Principal
Balance as of the Cut-off Date;


 


(g)      the Maturity Date
for each Mortgage Loan;


 






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(h)      the Due Date;


 


(i)       the amount of the
Periodic Payment due on the first Due Date following the Cut-off Date;


 


(j)       the Servicing Fee
Rate;


 


(k)      whether the Mortgage
Loan is an Actual/360 Loan;


 


(l)       whether any letter
of credit is held by the lender as a beneficiary or is assigned as security for such Mortgage Loan;


 


(m)     [reserved];


 


(n)      whether the Mortgage
Loan is part of a Whole Loan;


 


(o)      whether the Mortgage
Loan is secured in any part by a leasehold interest; and


 


(p)      whether the Mortgage
Loan has any related mezzanine debt or other subordinate debt.


 


Such list may be in the form of more than one list, collectively
setting forth all of the information required. A comparable list shall be prepared with respect to each Serviced Companion Loan.


 


“Mortgage Loan Seller Sub-Servicer”:
A Servicing Function Participant or Sub-Servicer required to be retained by the Master Servicer by a Mortgage Loan Seller, as listed
on Exhibit X to this Agreement, or any successor thereto.


 


“Mortgage Loan Sellers”:
Each of GACC and JPMCB.


 


“Mortgage Note”:
With respect to any Mortgage Loan or Serviced Companion Loan as of any date of determination, the note or other evidence of indebtedness
and/or agreements evidencing the indebtedness of a Borrower under such Mortgage Loan or Serviced Companion Loan including any amendments
or modifications, or any renewal or substitution notes, as of such date.


 


“Mortgage Pool”:
All of the Mortgage Loans and any successor REO Loans, collectively. The Mortgage Pool does not include the Companion Loans or
any related REO Loans.


 


“Mortgaged Property”:
The underlying property securing a Mortgage Loan including any REO Property, consisting of a fee simple estate, and, with respect
to certain Mortgage Loans, a leasehold estate or both a leasehold estate and a fee simple estate, or a leasehold estate in a portion
of the property and a fee simple estate in the remainder, in a parcel of land improved by a commercial or multifamily property,
together with any personal property, fixtures, leases and other property or rights pertaining thereto.


 






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“Mortgage Rate”:
With respect to each Mortgage Loan or any related Companion Loan, as applicable, and any Interest Accrual Period, the per annum
rate at which interest accrues on such Mortgage Loan or Serviced Companion Loan, as applicable, during such period (in the
absence of a default), as set forth in the related Mortgage Note from time to time, without giving effect to any Default Rate.


 


“Naples Grande Beach Resort
Companion Loans”: As defined in the Preliminary Statement.


 


“Naples Grande Beach Resort
Mortgage Loan”: As defined in the Preliminary Statement.


 


“Naples Grande Beach Resort
Pari Passu Note A-1”: The promissory note designated as Note A-1, which evidences a portion of the Naples Grande
Beach Resort Whole Loan. The Naples Grande Beach Resort Pari Passu Note A-1 is not included in the Trust Fund and is pari passu
in right of payment to the Naples Grande Beach Resort Pari Passu Note A-2 and the Naples Grande Beach Resort Pari Passu Note A-3,
as set forth in the related Intercreditor Agreement. As of the Closing Date, the Naples Grande Beach Resort Pari Passu Note A-1
is held by the JPMBB 2016-C1 Mortgage Trust.


 


“Naples Grande Beach Resort
Pari Passu Note A-2”: The promissory note designated as Note A-2, which evidences a portion of the Naples Grande
Beach Resort Whole Loan. The Naples Grande Beach Resort Pari Passu Note A-2 is included in the Trust Fund and is pari passu
in right of payment to the Naples Grande Beach Resort Pari Passu Note A-1 and the Naples Grande Beach Resort Pari Passu Note A-3,
as set forth in the related Intercreditor Agreement. As of the Closing Date, the Naples Grande Beach Resort Pari Passu Note A-2
is a Mortgage Loan.


 


“Naples Grande Beach Resort
Pari Passu Note A-3”: The promissory note designated as note A-3, which evidences a portion of the Naples Grande
Beach Resort Whole Loan. The Naples Grande Beach Resort Pari Passu Note A-3 is not included in the Trust and is pari passu
in right of payment to the Naples Grande Beach Resort Pari Passu Note A-1 and the Naples Grande Beach Resort Pari Passu Note A-2,
as set forth in the related Intercreditor Agreement. As of the Closing Date, the Naples Grande Beach Resort Pari Passu Note A-3
is held by JPMCB.


 


“Naples Grande Beach Resort
Pooling and Servicing Agreement”: The pooling and servicing agreement, dated as of March 1, 2016 among J.P. Morgan Chase
Commercial Mortgage Securities Corp., as depositor, Wells Fargo Bank, National Association, as master servicer, Midland Loan Services,
a Division of PNC Bank, National Association, as special servicer, Wilmington Trust, National Association, as trustee, Wells Fargo
Bank, National Association, as certificate administrator, paying agent and custodian, Pentalpha Surveillance LLC, as operating
advisor, and Pentalpha Surveillance LLC, as asset representations reviewer, and entered into in connection with the JPMBB 2016-C1
Mortgage Trust.


 


“Naples Grande Beach Resort
Service Providers”: With respect to the Naples Grande Beach Resort Companion Loans, the related Other Trustee, Other
Servicer, Other Special Servicer and any related sub-servicer, as applicable, and any other Person that makes principal


 






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and/or
interest advances in respect of such mortgage loan pursuant to the related Other Pooling and Servicing Agreement.


 


“Naples Grande Beach Resort
Whole Loan”: The Naples Grande Beach Resort Companion Loans, together with the Naples Grande Beach Resort Mortgage Loan.
References herein to the Naples Grande Beach Resort Whole Loan shall be construed to refer to the aggregate indebtedness under
the Naples Grande Beach Resort Pari Passu Note A-1, the Naples Grande Beach Resort Pari Passu Note A-2 and the Naples Grande Beach
Resort Pari Passu Note A-3.


 


“Net Condemnation Proceeds”:
Condemnation Proceeds, to the extent such proceeds are not to be applied to the restoration, preservation or repair of the related
Mortgaged Property or released to the Borrower in accordance with the express requirements of the Loan Documents or other documents
included in the Mortgage File or in accordance with the Servicing Standard.


 


“Net Default Interest”:
With respect to any Distribution Date, an amount equal to the sum of (i) the amount of the aggregate collected Default Interest
allocable to the Mortgage Loans received during the preceding Collection Period, minus (ii) any portions thereof withdrawn
from (A) the Collection Account pursuant to Section 3.06(a)(ix) of this Agreement for Advance Interest Amounts and
unreimbursed Additional Trust Fund Expenses (including Special Servicing Fees, Liquidation Fees and Workout Fees) incurred on the
related Mortgage Loan during or prior to such Collection Period and (B) each Serviced Whole Loan Collection Account pursuant
to Section 3.06(b)(ix) for Advance Interest Amounts and unreimbursed Additional Trust Fund Expenses incurred on the
related Serviced Whole Loan during or prior to such Collection Period.


 


“Net Insurance Proceeds”:
Insurance Proceeds, to the extent such proceeds are not to be applied to the restoration of the related Mortgaged Property or released
to the Borrower in accordance with the express requirements of the Loan Documents or other documents included in the Mortgage File
or in accordance with prudent and customary servicing practices.


 


“Net Liquidation Proceeds”:
The Liquidation Proceeds received with respect to any Mortgage Loan or Serviced Whole Loan net of the amount of (i) Liquidation
Expenses incurred with respect thereto and (ii) with respect to proceeds received in connection with the taking of a Mortgaged
Property (or portion thereof) by the power of eminent domain in condemnation, amounts required to be applied to the restoration
or repair of the related Mortgaged Property.


 


“Net Mortgage Rate”:
With respect to any Mortgage Loan and any Distribution Date, the per annum rate equal to the Mortgage Rate for such Mortgage
Loan for the related Interest Accrual Period, minus, for any such Mortgage Loan, the aggregate of the applicable Servicing Fee
Rate, Certificate Administrator/Trustee Fee Rate, Operating Advisor Fee Rate, CREFC® Intellectual Property Royalty
License Fee Rate, the fee rate paid to the Sub-Servicer, if any, with respect to any Non-Serviced Mortgage Loan and the related
Non-Serviced Mortgage Loan Primary Servicing Fee Rate. The “Net Mortgage Rate” for purposes of calculating Pass-Through
Rates and Withheld Amounts shall be the Net Mortgage Rate of such Mortgage Loan without taking into account any modification, waiver
or amendment of the terms of the related


 






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Mortgage Loan, whether agreed to by the Master Servicer or the Special Servicer or resulting
from a bankruptcy, insolvency or similar proceeding involving the related Borrower. The Net Mortgage Rate shall not be reduced
by any Operating Advisor Fee Rate following the Operating Advisor’s resignation pursuant to Section 6.04(e) or the
termination of the Operating Advisor pursuant to Section 7.07(e).


 


Notwithstanding the foregoing, if any
such Mortgage Loan does not accrue interest on the basis of a 360-day year consisting of twelve 30-day months, then, solely for
purposes of calculating the Pass-Through Rate on the Regular Certificates, the Net Mortgage Rate of such Mortgage Loan for any
Interest Accrual Period will be the annualized rate at which interest would have to accrue in respect of such Mortgage Loan or
Serviced Companion Loan on the basis of a 360-day year consisting of twelve 30-day months in order to produce the aggregate amount
of interest actually accrued in respect of such Mortgage Loan at the related Net Mortgage Rate during such Interest Accrual Period;
provided, however, that with respect to each such Mortgage Loan, the Net Mortgage Rate for the one-month period (i) prior
to the Due Dates in (a) January and February in each year that is not a leap year or (b) February only in each
year that is a leap year (in either case, unless the related Distribution Date is the final Distribution Date) shall be determined
net of any Withheld Amounts from that month and (ii) preceding the Due Date in March (or February if the related
Distribution Date is the final Distribution Date) (commencing in 2017), shall be determined inclusive of the Withheld Amounts,
if applicable, from the immediately preceding February, and, if applicable, January.


 


“Net Prepayment Interest Excess”:
The excess amount, if any, that the aggregate of all Prepayment Interest Excess for all Mortgage Loans (other than the Non-Serviced
Mortgage Loans) or Serviced Companion Loans that the Master Servicer is servicing exceeds the aggregate of all Compensating Interest
Payments for such Mortgage Loans (other than the Non-Serviced Mortgage Loans) or Serviced Companion Loans as of any related Distribution
Date.


 


“Net Prepayment Interest Shortfall”:
With respect to the Mortgage Loans or Serviced Companion Loans that the Master Servicer is servicing, the aggregate Prepayment
Interest Shortfalls in excess of the Compensating Interest Payments on such Mortgage Loan or Serviced Companion Loan.


 


“Net REO Proceeds”:
With respect to each Serviced REO Property, REO Proceeds with respect to such REO Property net of any insurance premiums, taxes,
assessments and other costs and expenses permitted to be paid therefrom pursuant to Section 3.15(b) of this Agreement.


 


“New Lease”: Any
lease of a Serviced REO Property entered into on behalf of the Lower-Tier REMIC if such Trust REMIC has the right to renegotiate
the terms of such lease, including any lease renewed or extended on behalf of such Trust REMIC.


 


“Non-Directing Holder”:
With respect to any Companion Loan, the “Non-Directing Holder”, “Non-Controlling Note Holder” or any analogous
concept under the related Intercreditor Agreement.


 


“Non-Reduced Certificates”:
As of any date of determination, any Class of Sequential Pay Certificates then outstanding for which (a)(1) the initial Certificate
Balance of


 






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such Class of Certificates minus (2) the sum (without duplication) of (x) the aggregate payments of principal (whether
as principal prepayments or otherwise) distributed to the Holders of such Class of Certificates as of such date of determination,
(y) any Appraisal Reduction Amounts allocated to such Class of Certificates as of such date of determination and (z) any Realized
Losses previously allocated to such Class of Certificates as of such date of determination, is equal to or greater than (b) 25%
of the remainder of (i) the initial Certificate Balance of such Class of Certificates less (ii) any payments of principal
(whether as principal prepayments or otherwise) previously distributed to the Holders of that Class of Certificates as of such
date of determination.


 


“Non-Serviced Companion Loan”:
With respect to any Non-Serviced Whole Loan, any related mortgage loan not included in the Trust that is serviced under another
agreement and that is generally (a) payable on a pari passu basis with the related Mortgage Loan included in the Trust to
the extent set forth in the related Intercreditor Agreement or (b) subordinated in right of payment to the related Mortgage Loan
included in the Trust to the extent set forth in the related Intercreditor Agreement. The 787 Seventh Avenue Companion Loans, the
Naples Grande Beach Resort Companion Loans, the 225 Liberty Street Companion Loans, the 7700 Parmer Companion Loans, the Columbus
Park Crossing Companion Loan and the Hagerstown Premium Outlet Companion Loan, on and after the Hagerstown Premium Outlets Pari
Passu Note A-2 Securitization Date are the only Non-Serviced Companion Loans related to the Trust.


 


“Non-Serviced Mortgage Loan”:
With respect to any Non-Serviced Whole Loan, a Mortgage Loan included in the Trust but serviced under another agreement. The 787
Seventh Avenue Mortgage Loan, the Naples Grande Beach Resort Mortgage Loan, the 225 Liberty Street Mortgage Loan, the 7700 Parmer
Mortgage Loan, the Columbus Park Crossing Mortgage Loan and the Hagerstown Premium Outlets Mortgage Loan, on and after the Hagerstown
Premium Outlets Pari Passu Note A-2 Securitization Date are the only Non-Serviced Mortgage Loans related to the Trust.


 


“Non-Serviced Mortgage Loan
Primary Servicing Fee Rate”: The “primary servicing fee rate” or “pari passu primary servicing rate”
(each as defined or set forth in the applicable Other Pooling and Servicing Agreement) and any other servicing fee rate (other
than those payable to the applicable Other Special Servicer) applicable to any Non-Serviced Mortgage Loan. The Non-Serviced Mortgage
Loan Primary Servicing Fee Rate for (A) each Servicing Shift Mortgage Loan will be such amount as set forth in the related Other
Pooling and Servicing Agreement for such Servicing Shift Whole Loan, (B) the 787 Seventh Avenue Mortgage Loan will be 0.00125%,
(C) the Naples Grande Beach Resort Mortgage Loan will be 0.01250%, (D) the 225 Liberty Street Mortgage Loan will be 0.00250%, (E)
the 7700 Parmer Mortgage Loan will be 0.00750% and (F) the Columbus Park Crossing Mortgage Loan will be 0.01250%.


 


“Non-Serviced Mortgage Loan
Service Providers”: With respect to (A) the 787 Seventh Avenue Whole Loan, the 787 Seventh Avenue Service Providers,
(B) the Naples Grande Beach Resort Whole Loan, the Naples Grande Beach Resort Service Providers, (C) the 225 Liberty Street Whole
Loan, the 225 Liberty Street Service Providers, (D) the 7700 Parmer Whole Loan, the 7700 Parmer Service Providers, (E) the Columbus
Park Crossing Whole Loan, the Columbus Park Crossing Service Providers and (F) the Hagerstown Premium Outlets Whole


 






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Loan on and
after the Hagerstown Premium Outlets Pari Passu Note A-2 Securitization Date, the Hagerstown Premium Outlets Service Providers.


 


“Non-Serviced Whole Loan Custodian”:
With respect to any Non-Serviced Mortgage Loan, the applicable other “custodian” under the Other Pooling and Servicing
Agreement that governs the servicing and administration of the related Non-Serviced Whole Loan.


 


“Non-Serviced Whole Loans”:
Any mortgage loan that is not serviced under this Agreement that is divided into two or more notes, which includes a Mortgage Loan
included in the Trust but serviced under another agreement and one or more mortgage notes not included in the Trust and serviced
under another agreement. References herein to a Non-Serviced Whole Loan shall be construed to refer to the aggregate indebtedness
under the related notes. The 787 Seventh Avenue Whole Loan, the Naples Grande Beach Resort Whole Loan, the 225 Liberty Street Whole
Loan, the 7700 Parmer Whole Loan, the Columbus Park Crossing Whole Loan and the Hagerstown Premium Outlets Whole Loan, on and after
the Hagerstown Premium Outlets Note A-2 Securitization Date are the only Non-Serviced Whole Loans related to the Trust.


 


“Non-U.S. Person”:
A person that is not a U.S. Person.


 


“Nonrecoverable Advance”:
Any Nonrecoverable P&I Advance, Nonrecoverable Servicing Advance or Nonrecoverable Workout-Delayed Reimbursement Amounts.


 


“Nonrecoverable P&I Advance”:
Any P&I Advance previously made or proposed to be made in respect of a Mortgage Loan or REO Loan which the Master Servicer,
the Special Servicer, in each case in accordance with the Servicing Standard and Sections 4.07(c), or the Trustee, in its
good faith business judgment, as applicable, determines would not be ultimately recoverable, together with any accrued and unpaid
interest thereon, from late payments, Condemnation Proceeds, Insurance Proceeds, Liquidation Proceeds and other collections on
or in respect of the related Mortgage Loan or REO Loan, which shall be evidenced by an Officer’s Certificate as provided
by Section 4.07(c) of this Agreement.


 


“Nonrecoverable Servicing
Advance”: Any Servicing Advance previously made or proposed to be made in respect of a Mortgage Loan (other than a Non-Serviced
Mortgage Loan) or a Serviced Whole Loan or any Serviced REO Property that the Master Servicer, the Special Servicer, in each case
in accordance with the Servicing Standard and Section 3.21(d) of this Agreement, or the Trustee, in its good faith
business judgment, as applicable, determines would not be ultimately recoverable, together with any accrued and unpaid interest
thereon, from late payments, Condemnation Proceeds, Insurance Proceeds, Liquidation Proceeds and other collections on or in respect
of the related Mortgage Loan, Serviced Whole Loan or Serviced REO Loan, which shall be evidenced by an officer certificate as provided
by Section 3.21(d) of this Agreement. The determination as to the recoverability of any Servicing Advance previously
made or proposed to be made in respect of any Non-Serviced Whole Loan (or related REO Property) shall be made by the applicable
servicer under, and in accordance with the terms of, the related Other Pooling and Servicing Agreement. Any such determination
made by any such party shall be conclusive and binding on the Certificateholders and may, in all cases, be conclusively relied
upon by the Master Servicer, the Special Servicer and the Trustee, as applicable.


 






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“Nonrecoverable Workout-Delayed
Reimbursement Amounts”: Any Workout-Delayed Reimbursement Amounts when the Person making such determination in accordance
with the procedures specified for Nonrecoverable Servicing Advances or Nonrecoverable P&I Advances, as applicable, and taking
into account factors such as all other outstanding Advances, either (a) has determined that such Workout-Delayed Reimbursement
Amounts, would not ultimately be recoverable from late payments or any other recovery on or in respect of the related Mortgage
Loan, Serviced Whole Loan or REO Loans or (b) has determined that such Workout-Delayed Reimbursement Amounts would not ultimately
be recoverable, along with any other Workout-Delayed Reimbursement Amounts and Nonrecoverable Advances, out of the principal portion
of future collections on all of the Mortgage Loans and REO Properties and from general principal collections in the Collection
Account.


 


“Notice of Termination”:
Any of the notices given to the Trustee, the Certificate Administrator and the Master Servicer by the Certificateholder owning
a majority of the Percentage Interests in the Controlling Class, the Special Servicer or the Master Servicer pursuant to Section 9.01(c)
of this Agreement.


 


“Notice to Refer”:
As defined in Section 2.03(k)(ii).


 


“Notional Amount”:
As of any date of determination: (i) with respect to each of the Class X-A, Class X-B, Class X-C, Class X-D, Class X-E and
Class X-F Certificates as a Class, the related Class X Notional Amount as of such date of determination and (ii) with
respect to any Class X Certificate, the product of the Percentage Interest evidenced by such Certificate and the related Class X
Notional Amount as of such date of determination.


 


“NRSRO”: Any nationally
recognized statistical ratings organization.


 


“NRSRO Certification”:
A certification (a) executed by a NRSRO in favor of the 17g-5 Information Provider substantially in the form attached hereto as
Exhibit Z or (b) provided electronically and executed by such NRSRO by means of a “click-through”
confirmation on the 17g-5 Information Provider’s Website, in either case in favor of the 17g-5 Information Provider that
states that such NRSRO is a Rating Agency under this Agreement, or that such NRSRO has been engaged to rate any securities backed,
in whole or in part, by a Serviced Pari Passu Companion Loan, or that such NRSRO has provided the Depositor with the appropriate
certifications pursuant to paragraph (e) of Rule 17g-5 of the Exchange Act, such NRSRO has access to the Depositor’s
17g-5 website and such NRSRO will keep such information confidential, except to the extent such information has been made available
to the general public.


 


“Officer’s Certificate”:
A certificate signed by the Chairman of the Board, the Vice Chairman of the Board, the President or a Vice President (however denominated)
and by the Treasurer, the Secretary, one of the Assistant Treasurers or Assistant Secretaries, any Trust Officer or other officer
of the Master Servicer, Special Servicer, Additional Servicer, Operating Advisor or Asset Representations Reviewer customarily
performing functions similar to those performed by any of the above designated officers, any Servicing Officer and also with respect
to a particular matter, any other officer to whom such matter is referred because of such officer’s knowledge of and familiarity
with the particular subject, or an authorized officer of the Depositor, and delivered to the Depositor, the Trustee, the Certificate
Administrator, the Special Servicer or the Master Servicer, as the case may be.


 






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“Offsetting Modification Fees”:
With respect to any Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced Whole Loan or Serviced REO Loan and with
respect to any Workout Fee or Liquidation Fee payable by the Trust, any and all Modification Fees collected by the Special Servicer
as additional servicing compensation, but only to the extent that (1) such Modification Fees were earned and collected by the Special
Servicer (A) in connection with the workout or liquidation (including partial liquidation) of a Specially Serviced Loan or
Serviced REO Loan as to which the subject Workout Fee or Liquidation Fee became payable or (B) in connection with any workout
of a Specially Serviced Loan that closed within the prior 18 months (determined as of the closing day of the workout or liquidation
as to which the subject Workout Fee or Liquidation Fee became payable) and (2) such Modification Fees were earned in connection
with a modification, restructure, extension, waiver or amendment of such Mortgage Loan, Serviced Whole Loan or Serviced REO Loan
at a time when such Mortgage Loan, Serviced Whole Loan or Serviced REO Loan was a Specially Serviced Loan.


 


“Operating Advisor”:
Park Bridge Lender Services LLC, a New York limited liability company, or its successor in interest, or any successor Operating
Advisor appointed as herein provided.


 


“Operating Advisor Annual
Report”: As defined in Section 3.31(d)(v) of this Agreement.


 


“Operating Advisor Consulting
Fee”: A fee for each Major Decision on which the Operating Advisor has consulting rights equal to $10,000 with respect
to any Mortgage Loan or such lesser amount as the related Borrower agrees to pay, payable pursuant to Section 3.06
of this Agreement; provided, no such fee shall be payable unless paid by the related Borrower. The Operating Advisor may
in its sole discretion reduce the Operating Advisor Consulting Fee with respect to any Major Decision. The Master Servicer or Special
Servicer, as applicable, may waive or reduce the amount of any Operating Advisor Consulting Fee payable by the related Borrower
if it determines that such full or partial waiver is in accordance with the Servicing Standard; provided, that the Master
Servicer or the Special Servicer, as applicable, shall consult with the Operating Advisor prior to any such waiver or reduction.
No Operating Advisor Consulting Fee shall be payable with respect to any Subordinate Companion Loan, any Non-Serviced Whole Loan
or any Servicing Shift Whole Loan.


 


“Operating Advisor Fee”:
With respect to each Mortgage Loan (other than any Non-Serviced Mortgage Loan and Servicing Shift Mortgage Loan) and any Distribution
Date, an amount per Interest Accrual Period equal to the product of (i) the applicable Operating Advisor Fee Rate and (ii) the
Stated Principal Balance of such Mortgage Loan as of the Due Date in the immediately preceding Collection Period (without giving
effect to payments of principal on such Mortgage Loan on such Due Date). Such fee shall be in addition to, and not in lieu of,
any other fee or other sum payable to the Operating Advisor under this Agreement. The Operating Advisor Fee shall be calculated
in accordance with the provisions of Section 1.02(a) of this Agreement. For the avoidance of doubt, the Operating Advisor
Fee shall be payable from the Lower-Tier REMIC. For the avoidance of doubt, no Operating Advisor Fee shall accrue on the principal
balance of, or be payable with respect to, any Subordinate Companion Loan, Serviced Pari Passu Companion Loan, any Non-Serviced
Whole Loan or any Servicing Shift Mortgage Loan. No Operating Advisor Fee shall accrue following the Operating Advisor’s
resignation


 






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pursuant to Section 6.04(e) or the termination of the Operating Advisor pursuant to Section 7.07(e).


 


“Operating Advisor Fee Rate”:
For each Interest Accrual Period, a per annum rate equal to (a) 0.0032% with respect to all Mortgage Loans (except the Williamsburg
Premium Outlets Mortgage Loan, the 600 Broadway Mortgage Loan, the SLS South Beach Mortgage Loan, the Hall Office Park A1/G1/G3
Mortgage Loan and the Renaissance Providence Downtown Hotel Mortgage Loan); (b) 0.0061% with respect to the Williamsburg Premium
Outlets Mortgage Loan; (c) 0.0082% with respect to the 600 Broadway Mortgage Loan; (d) 0.0089% with respect to the SLS South Beach
Mortgage Loan; (e) 0.0103% with respect to the Hall Office Park A1/G1/G3 Mortgage Loan; and (f) 0.0112% with respect to the Renaissance
Providence Downtown Hotel Mortgage Loan. At any time there is no Operating Advisor, the Operating Advisor Fee Rate shall be 0%.


 


“Operating Advisor Standard”:
As defined in Section 3.31(b) of this Agreement.


 


“Operating Advisor Surveillance
Personnel”: The divisions and individuals of the Operating Advisor who are involved in the performance of the duties
of the Operating Advisor under this Agreement.


 


“Operating Advisor Termination
Event”: As defined in Section 7.07(a) of this Agreement.


 


“Opinion of Counsel”:
A written opinion of counsel, who may, without limitation, be counsel for the Depositor, the Special Servicer or the Master Servicer,
as the case may be, acceptable to the Certificate Administrator and the Trustee, except that any opinion of counsel relating to
(a) qualification of any Trust REMIC as a REMIC or the imposition of tax under the REMIC Provisions on any income or property
of any Trust REMIC, (b) compliance with the REMIC Provisions (including application of the definition of “Independent
Contractor”) or (c) a resignation of the Master Servicer or the Special Servicer pursuant to Section 6.04(b)
of this Agreement, must be an opinion of counsel who is Independent of the Depositor, the Master Servicer and the Special Servicer.


 


“Originator”: Any
of (i) the Mortgage Loan Sellers and (ii) with respect to any Mortgage Loan acquired by a Mortgage Loan Seller, the originator
of such Mortgage Loan.


 


“Other 17g-5 Information Provider”:
The applicable other “17g-5 information provider” under an Other Pooling and Servicing Agreement relating to a Serviced
Companion Loan. The Depositor shall inform the other parties hereto of the name and contact information for any Other 17g-5 Information
Provider existing as of the Closing Date. The name and contact information of any such Other 17g-5 Information Provider as of the
Closing Date is set forth on Schedule VIII hereto. Each party hereto shall be entitled to conclusively rely upon the information
set forth on Schedule VIII until such party receives notice of any change thereto.


 


“Other Asset Representations
Reviewer”: The applicable other “asset representations reviewer” under an Other Pooling and Servicing Agreement
relating to a Serviced Companion Loan or a Non-Serviced Companion Loan, as applicable.


 






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“Other Depositor”:
The applicable other “depositor” under an Other Pooling and Servicing Agreement relating to a Serviced Companion Loan
or a Non-Serviced Companion Loan, as applicable.


 


“Other Indemnified Parties”:
As defined in Section 1.04 of this Agreement.


 


“Other Operating Advisor”:
The applicable other “operating advisor” or “trust advisor” under an Other Pooling and Servicing Agreement
relating to a Serviced Companion Loan or a Non-Serviced Companion Loan, as applicable.


 


“Other Pooling and Servicing
Agreement”: A pooling and servicing agreement or other applicable servicing agreement relating to a Serviced Companion
Loan or a Non-Serviced Whole Loan, as applicable. The Other Pooling and Servicing Agreements related to the Trust as of the Closing
Date are (i) with respect to the 787 Seventh Avenue Whole Loan, the 787 Seventh Avenue Trust and Servicing Agreement, (ii) with
respect to the Naples Grande Beach Resort Whole Loan, the Naples Grande Beach Resort Pooling and Servicing Agreement, (iii) with
respect to the 225 Liberty Street Whole Loan, the 225 Liberty Street Trust and Servicing Agreement, (iv) with respect to the 7700
Parmer Whole Loan, the 7700 Parmer Pooling and Servicing Agreement, (v) with respect to the Columbus Park Crossing Whole Loan,
the Columbus Park Crossing Pooling and Servicing Agreement and (vi) with respect to the Hagerstown Premium Outlets Whole Loan,
on and after the Hagerstown Premium Outlets Pari Passu Note A-2 Securitization Date, the Hagerstown Premium Outlets Pooling and
Servicing Agreement.


 


“Other Securitization”:
Any commercial mortgage securitization trust that holds a Serviced Companion Loan or Non-Serviced Companion Loan or any successor
REO Loan with respect thereto. The initial Other Securitizations related to the Trust as of the Closing Date are (i) with respect
to the 787 Seventh Avenue Companion Loans, the COMM 2016-787S Mortgage Trust securitization, (ii) with respect to the Williamsburg
Premium Outlets Companion Loans, the COMM 2016-DC2 Mortgage Trust securitization, (iii) with respect to the Naples Grande Beach
Resort Companion Loans, the JPMBB 2016-C1 Mortgage Trust securitization, (iv) with respect to the 225 Liberty Street Companion
Loans, the 225 Liberty Street Trust 2016-225L Mortgage Trust securitization, the CGCMT 2016-P3 Mortgage Trust securitization and
the WFCM 2016-C33 Mortgage Trust securitization, (v) with respect to the 600 Broadway Companion Loans, the CGCMT 2016-P3 Mortgage
Trust securitization, (vi) with respect to the 7700 Parmer Companion Loans, the JPMCC 2015-JP1 Mortgage Trust securitization and
the JPMBB 2016-C1 Mortgage Trust securitization and (vii) with respect to the Columbus Park Crossing Companion Loan, the COMM 2016-DC2
Mortgage Trust securitization. On an after the Hagerstown Premium Outlets Pari Passu Note A-2 Securitization Date, the related
securitization shall also be an Other Securitization. Each of the 787 Seventh Avenue Pari Passu Note A-8, the Williamsburg Premium
Outlets Pari Passu Note A-2, the Williamsburg Premium Outlets Pari Passu Note A-5, the Naples Grande Beach Resort Pari Passu Note
A-3, the 600 Broadway Pari Passu Note A-2-2, the 600 Broadway Pari Passu Note A-6, the SLS South Beach Pari Passu Note A-2, the
Hagerstown Premium Outlets Pari Passu Note A-3, the Hagerstown Premium Outlets Pari Passu Note A-4, the Hall Office Park A1/G1/G3
Pari Passu Note A-2 and the Renaissance Providence Downtown Hotel Pari Passu Note A-2 (or a portion thereof) is expected to be
included in a future securitization, which shall also be an Other Securitization.


 






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“Other Servicer”:
The applicable other “master servicer” under an Other Pooling and Servicing Agreement relating to a Serviced Companion
Loan or a Non-Serviced Companion Loan, as applicable.


 


“Other Special Servicer”:
The applicable other “special servicer” under an Other Pooling and Servicing Agreement relating to a Serviced Companion
Loan or a Non-Serviced Companion Loan, as applicable.


 


“Other Trustee”:
The applicable other “trustee” or, if applicable, the other “certificate administrator” or, if applicable,
the other “custodian” under an Other Pooling and Servicing Agreement relating to a Serviced Companion Loan or a Non-Serviced
Companion Loan, as applicable.


 


“Ownership Interest”:
Any record or beneficial interest in a Class R Certificate.


 


“P&I Advance”:
As to any Mortgage Loan, any advance made by the Master Servicer or the Trustee pursuant to Section 4.07 of this Agreement.
Each reference to the payment or reimbursement of a P&I Advance shall be deemed to include, whether or not specifically referred
to and without duplication, payment or reimbursement of interest thereon at the Reimbursement Rate. Neither the Master Servicer
nor the Trustee will be required to make P&I Advances with respect to any delinquent payment amounts due on any Companion Loan.


 


“P&I Advance Determination
Date”: With respect to any Distribution Date, the second Business Day prior to such Distribution Date.


 


“Pass-Through Rate”:
With respect to each Class of Regular Certificates set forth below, the following rates:


 


	
        Class 
	 	
        Pass-Through Rate 

	Class A-1	 	Class A-1 Pass-Through Rate
	Class A-2	 	Class A-2 Pass-Through Rate
	Class A-SB	 	Class A-SB Pass-Through Rate
	Class A-3A	 	Class A-3A Pass-Through Rate
	Class A-3B	 	Class A-3B Pass-Through Rate
	Class A-4	 	Class A-4 Pass-Through Rate
	Class X-A	 	Class X-A Pass-Through Rate
	Class X-B	 	Class X-B Pass-Through Rate
	Class X-C	 	Class X-C Pass-Through Rate
	Class X-D	 	Class X-D Pass-Through Rate
	Class X-E	 	Class X-E Pass-Through Rate
	Class X-F	 	Class X-F Pass-Through Rate
	Class A-M	 	Class A-M Pass-Through Rate
	Class B	 	Class B Pass-Through Rate
	Class C	 	Class C Pass-Through Rate
	Class D	 	Class D Pass-Through Rate
	Class E	 	Class E Pass-Through Rate
	Class F	 	Class F Pass-Through Rate
	Class G	 	Class G Pass-Through Rate



 






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        Class 
	 	
        Pass-Through Rate 

	Class H	 	Class H Pass-Through Rate


 


“Paying Agent”:
The paying agent appointed pursuant to Section 5.04 of this Agreement.


 


“PCAOB”: The Public
Company Accounting Oversight Board.


 


“Penalty Charges”:
With respect to any Mortgage Loan or Serviced Companion Loan (or successor REO Loan), any amounts collected thereon from the Borrower
that represent default charges, penalty charges, late fees and/or Default Interest, and excluding any Yield Maintenance Charge.


 


“Percentage Interest”:
As to any Certificate (except the Class R Certificates), the percentage interest evidenced thereby in distributions required to
be made with respect to the related Class. With respect to any Certificate (except the Class R Certificates), the percentage interest
is equal to the initial denomination of such Certificate divided by the initial Certificate Balance or Notional Amount, as applicable,
of such Class of Certificates. With respect to the Class R Certificate, the percentage interest is set forth on the face thereof.


 


“Performance Certification”:
As defined in Section 10.08 of this Agreement.


 


“Performing Loan”:
A Mortgage Loan or Serviced Whole Loan that is not a Specially Serviced Loan or REO Loan.


 


“Performing Party”:
As defined in Section 10.14 of this Agreement.


 


“Periodic Payment”:
With respect to any Mortgage Loan or Serviced Companion Loan (other than any REO Loan) and any Due Date, the scheduled monthly
payment of principal, if any, and interest at the Mortgage Rate, excluding any Balloon Payment (but not excluding any constant
Periodic Payment due on a Balloon Loan), which is payable by the related Borrower on such Due Date under the related Mortgage Note.
The Periodic Payment with respect to an REO Loan is the monthly payment that would otherwise have been payable on the related Due
Date had the related Mortgage Note not been discharged, determined as set forth in the preceding sentence and on the assumption
that all other amounts, if any, due thereunder are paid when due.


 


“Permitted Investments”:
Any one or more of the following obligations or securities payable on demand or having a scheduled maturity on or before the Business
Day preceding the date upon which such funds are required to be drawn, regardless of whether issued by the Depositor, the Master
Servicer, the Special Servicer, the Certificate Administrator or the Trustee or any of their respective Affiliates and having at
all times the required ratings, if any, provided for in this definition, unless each Rating Agency shall have provided a Rating
Agency Confirmation relating to the Certificates and Serviced Companion Loan Securities:


 


(A)     direct obligations
of, or obligations fully guaranteed as to timely payment of principal and interest by, the United States or any agency or


 






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instrumentality
thereof, provided that each such obligation is backed by the full faith and credit of the United States;


 


(B)     repurchase agreements
on obligations specified in clause (A) of this definition, with a party agreeing to repurchase such obligations (a)(1) in the case
of such investments with maturities of 30 days or less, the short term obligations of which are rated at least “F1”
by Fitch and in the highest short term rating category by Moody’s, and the long term obligations of which are rated at least
“A” by Fitch and “A2” by Moody’s, (2) in the case of such investments with maturities of three months
or less, but more than 30 days, the short term obligations of which are rated at least “F1+” by Fitch and in the highest
short term rating category by Moody’s, or the long term obligations of which are rated at least “AA-” by Fitch
and “A2” by Moody’s, (3) in the case of such investments with maturities of six months or less, but more than
three months, the short term obligations of which are rated at least “F1+” by Fitch and in the highest short term rating
category by Moody’s and the long term obligations of which are rated at least “AA-” by Fitch and “Aa3”
by Moody’s, and (4) in the case of such investments with maturities of more than six months, the short term obligations of
which are rated at least “F1+” by Fitch and in the highest short term rating category by Moody’s and the long
term obligations of which are rated “AA-” by Fitch and “Aaa” by Moody’s, and (b) the short-term obligations
of the applicable repurchase agreement counterparty are rated in the highest short-term debt rating category of DBRS (or, if not
rated by DBRS, an equivalent (or higher) rating by any two other NRSROs (which may include Moody’s and Fitch)) and, if it
has a term in excess of six months, the long-term debt obligations of which are rated “AAA” by DBRS (or, if not rated
by DBRS, an equivalent (or higher) rating by any two other NRSROs (which may include Moody’s and Fitch)) (or, in the case
of any such Rating Agency as set forth in subclauses (a) – (b) above, such lower rating as is
the subject of a Rating Agency Confirmation by such Rating Agency relating to the Certificates and any Companion Loan Securities);


 


(C)     federal funds,
unsecured uncertificated certificates of deposit, time deposits, demand deposits and bankers’ acceptances of any bank or
trust company organized under the laws of the United States or any state thereof, (a)(1) in the case of such investments with maturities
of 30 days or less, the short term obligations of which are rated at least “F1” by Fitch and in the highest short term
rating category by Moody’s or the long term obligations of which are rated at least A” by Fitch and “A2”
by Moody’s, (2) in the case of such investments with maturities of three months or less, but more than 30 days, the short
term obligations of which are rated at least “F1+” by Fitch and in the highest short term rating category by Moody’s
or the long term obligations of which are rated at least “AA-” by Fitch and “A2” by Moody’s, (3)
in the case of such investments with maturities of six months or less, but more than three months, the short term obligations of
which are rated at least “F1+” by Fitch and in the highest short term rating category by Moody’s and the long
term obligations of which are rated at least “AA-” by Fitch and “Aa3” by Moody’s, and (4) in the
case of such investments with maturities of more than six months, the short term obligations of


 






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which are rated “F1+”
by Fitch and in the highest short term rating category by Moody’s and the long term obligations of which are rated “AA-”
by Fitch and “Aaa” by Moody’s, and (b) the short term obligations of which bank or trust company are rated in
the highest short term debt rating category of DBRS (or, if not rated by DBRS, an equivalent (or higher) rating by any two other
NRSROs (which may include Moody’s and Fitch)) and, if it has a term in excess of six months, the long term debt obligations
of which are rated “AAA” by DBRS (or, if not rated by DBRS, an equivalent (or higher) rating by any two other NRSROs
(which may include Moody’s and Fitch)) (or, in the case of any such Rating Agency as set forth in subclauses (a) –
(b) above, such lower rating as is the subject of a Rating Agency Confirmation by such Rating Agency relating to the Certificates
and any Companion Loan Securities);


 


(D)     commercial paper
of any corporation incorporated under the laws of the United States or any state thereof (or of any corporation not so incorporated,
provided that the commercial paper is United States Dollar denominated and amounts payable thereunder are not subject to
any withholding imposed by any non United States jurisdiction) (a)(1) in the case of such investments with maturities of 30 days
or less, the short term obligations of which corporation are rated at least in the highest short-term debt rating category of Moody’s
and “F1” by Fitch, or the long term obligations of which corporation are rated at least “A2” by Moody’s
and “A” by Fitch, (2) in the case of such investments with maturities of three months or less, but more than 30 days,
the short term obligations of which are rated at least in the highest short-term debt rating category of Moody’s and “F1+”
by Fitch, or the long term obligations of which are rated at least “AA-” by Fitch (with a short-term rating of “F1”
by Fitch) and “A2” by Moody’s, (3)(A) in the case of such investments with maturities of six months or less,
but more than three months, the short term obligations of which are rated at least “P1” by Moody’s, and the long
term obligations of which corporation are rated at least “Aa3” by Moody’s, and (B) in the case of such investments
with maturities of six months or less, but more than three months, the short term obligations of which are rated at least “F1+”
by Fitch, or the long term obligations of which corporation are rated at least “AA-” by Fitch (with a short-term rating
of “F1” by Fitch), and (4)(A) in the case of such investments with maturities of more than six months, the short
term obligations of which are rated at least “P1” by Moody’s, and the long term obligations of which are rated
at least “Aaa” by Moody’s, and (B) in the case of such investments with maturities of more than six months,
the short term obligations of which are rated at least “F1+” by Fitch, or the long term obligations of which are rated
at least “AA-” by Fitch (with a short-term rating of “F1” by Fitch), and (b) the short term obligations
of which corporation are rated in the highest short term debt rating category of DBRS (or, if not rated by DBRS, an equivalent
(or higher) rating by any two other NRSROs (which may include Moody’s and Fitch)) and, if it has a term in excess of six
months, the long term debt obligations of which are rated “AAA” (or the equivalent) by DBRS (or, if not rated by DBRS,
an equivalent (or higher) rating by any two other NRSROs (which may include Moody’s and Fitch)) (or, in the case of any such
Rating Agency as set forth in subclauses (a) – (b) above,


 






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such lower rating as is the subject of a Rating Agency
Confirmation by such Rating Agency relating to the Certificates and any Serviced Companion Loan Securities);


 


(E)     (1) units of taxable
money market mutual funds, issued by regulated investment companies, which seek to maintain a constant net asset value per share
(including the Federated Prime Obligation Money Market Fund, US Bank Long Term Eurodollar Sweep or the Wells Fargo Advantage Heritage
Money Market Fund) so long as any such fund is rated “Aaa-mf” by Moody’s and in the highest short term unsecured
debt ratings category by each of Fitch and DBRS (or, if not rated by DBRS, an equivalent rating (or higher) by at least two (2)
NRSROs (which may include any of the Rating Agencies) or otherwise acceptable to such Rating Agency, in any such case, as confirmed
in a Rating Agency Confirmation) relating to the Certificates and any Serviced Companion Loan Securities, or (2) units of money
market funds that (a) have substantially all of its assets invested continuously in the types of investments referred to in clause (A)
above, (b) has net assets of not less than $5,000,000,000, and (c) has a rating of “Aaa-mf” by Moody’s and has
the highest rating obtainable for money market funds from each of Fitch and DBRS (or, if not rated by DBRS, an equivalent rating
(or higher) by at least two (2) NRSROs (which may include any of the Rating Agencies) or otherwise acceptable to such Rating Agency,
in any such case, as confirmed in a Rating Agency Confirmation);


 


(F)     an obligation
or security that, but for the failure to satisfy one or more of the minimum rating(s) set forth in the applicable clause, would
be listed in clauses (B) – (E) above, and is the subject of a Rating Agency Confirmation relating to the Certificates
and any Serviced Companion Loan Securities from each Rating Agency for which the minimum rating(s) set forth in the applicable
clause is not satisfied with respect to such obligation or security; or


 


(G)     any other obligation
or security other than one listed in clauses (A) – (E) above, that is the subject of a Rating Agency Confirmation
relating to the Certificates and any Serviced Companion Loan Securities from each and every Rating Agency;


 


provided that each investment
described hereunder shall not (A) evidence either the right to receive (1) only interest with respect to such investment
or (2) a yield to maturity greater than 120% of the yield to maturity at par of the underlying obligations, (B) be purchased
at a price greater than par if such investment may be prepaid or called at a price less than its purchase price prior to stated
maturity, (C) be sold prior to stated maturity if such sale would result in a loss of principal on the instrument or a tax
on “prohibited transactions” under Section 860F of the Code or (D) have an “r” highlighter or
other comparable qualifier attached to its rating; and provided, further, that each investment described hereunder
must have (X) a predetermined fixed amount of principal due at maturity (that cannot vary or change), (Y) an original maturity
of not more than 365 days and a remaining maturity of not more than thirty (30) days and (Z) except in the case of a Permitted
Investment described in clause (E) of this definition, a fixed interest rate or an interest rate that is tied to a
single interest rate index plus a single fixed spread and moves proportionately with that index; and provided, further,
that each


 






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investment described hereunder must be a “cash flow investment” (within the meaning of the REMIC Provisions).


 


“Permitted Special Servicer/Affiliate
Fees”: Any commercially reasonable treasury management fees, banking fees, customary title agent fees and insurance commissions
or fees received or retained by the Special Servicer or any of its Affiliates in connection with any services performed by such
party with respect to any Mortgage Loan, Serviced Whole Loan or REO Property, in each case, in accordance with Article III
of this Agreement.


 


“Permitted Transferee”:
With respect to a Class R Certificate, any Person or agent thereof that is a Qualified Institutional Buyer, other than (a) a
Disqualified Organization, (b) any other Person so designated by the Certificate Registrar who is unable to provide an Opinion
of Counsel (provided at the expense of such Person or the Person requesting the Transfer) to the effect that the Transfer of an
Ownership Interest in any Class R Certificate to such Person will not cause any Trust REMIC to fail to qualify as a REMIC at any
time that the Certificates are outstanding, (c) a Person that is a Disqualified Non-U.S. Person, (d) a Plan or any Person
investing the assets of a Plan, (e) an entity treated as a domestic partnership for U.S. federal income tax purposes, one
or more of the direct or indirect beneficial owners (other than through a U.S. corporation) of which is (or is permitted under
the applicable partnership agreement to be) a Disqualified Non-U.S. Person or (f) a U.S. Person with respect to whom
income on the Class R Certificate is attributable to a fixed base or foreign permanent establishment, within the meaning of an
applicable income tax treaty, of such transferee or any other U.S. Person.


 


“Person”: Any individual,
corporation, limited liability company, partnership, joint venture, association, joint-stock company, trust, unincorporated organization
or government or any agency or political subdivision thereof.


 


“Plan”: As defined
in Section 5.02(k) of this Agreement.


 


“Platform-Level Basis”:
Only as used in connection with the Operating Advisor Annual Report, the term “platform-level basis” refers to the
Special Servicer’s performance of its duties as they relate to the resolution and/or liquidation of Specially Serviced Mortgage
Loans, taking into account the Special Servicer’s specific duties under this Agreement as well as the extent to which those
duties were performed in accordance with the Servicing Standard, with reasonable consideration by the Operating Advisor of any
annual compliance statement, assessment of compliance report, attestation report, Asset Status Report and other information delivered
to the Operating Advisor by the Special Servicer (other than any communications between the Controlling Class Representative or
any related Directing Holder, as applicable, and the Special Servicer that would be Privileged Information) pursuant to the provisions
of this Agreement.


 


“Preliminary Dispute Resolution
Election Notice”: As defined in Section 2.03(l)(i).


 


“Prepayment Assumption”:
The assumption that each Mortgage Loan does not prepay prior to its respective Maturity Date.


 






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“Prepayment Interest Excess”:
With respect to any Distribution Date, the aggregate amount, with respect to all Mortgage Loans or Serviced Companion Loans serviced
by the Master Servicer that were subject to Principal Prepayment in full or in part, or as to which Insurance Proceeds, Liquidation
Proceeds or Condemnation Proceeds, as applicable, were received by the Master Servicer or Special Servicer for application to such
Mortgage Loans or Serviced Companion Loans, in each case after the Due Date in the month of such Distribution Date and on or prior
to the related Determination Date, the amount of interest accrued at the Mortgage Rate for such Mortgage Loans or Serviced Companion
Loans on the amount of such Principal Prepayments, Insurance Proceeds, Liquidation Proceeds and Condemnation Proceeds after the
Due Date relating to such Collection Period and accruing in the manner set forth in the related Loan Documents, to the extent such
interest is collected by the Master Servicer or the Special Servicer (without regard to any Prepayment Premium or Yield Maintenance
Charge actually collected).


 


“Prepayment Interest Shortfall”:
With respect to any Distribution Date, for each Mortgage Loan or Serviced Companion Loan serviced by the Master Servicer that was
subject to a Principal Prepayment in full or in part and which did not include a full month’s interest, or as to which Insurance
Proceeds, Liquidation Proceeds or Condemnation Proceeds, as applicable, were received by the Master Servicer or Special Servicer
for application to such Mortgage Loan or Serviced Companion Loan, in each case after the Determination Date in the calendar month
preceding such Distribution Date but prior to the Due Date in the related Collection Period, the amount of interest that would
have accrued at the Net Mortgage Rate for such Mortgage Loan or Serviced Companion Loan on the amount of such Principal Prepayment,
Insurance Proceeds, Liquidation Proceeds or Condemnation Proceeds during the period commencing on the date as of which such Principal
Prepayment, Insurance Proceeds, Liquidation Proceeds or Condemnation Proceeds, as applicable, were applied to the unpaid principal
balance of the Mortgage Loan or Serviced Companion Loan and ending on (and including) the day immediately preceding such Due Date
(without regard to any Prepayment Premium or Yield Maintenance Charge actually collected).


 


“Prepayment Premium”:
Any premium, fee or other additional amount (other than a Yield Maintenance Charge) paid or payable on a Mortgage Loan or Serviced
Companion Loan by a Borrower as the result of a Principal Prepayment thereon, not otherwise due thereon, in respect of principal
or interest, which is intended to compensate the holder of the related Mortgage Note for prepayment.


 


“Pricing Date”:
March 31, 2016.


 


“Primary Servicing Fee Rate”:
With respect to each Mortgage Loan (other than Non-Serviced Mortgage Loans and Servicing Shift Mortgage Loans), the rate per
annum set forth on Exhibit B to this Agreement. With respect to a Servicing Shift Mortgage Loan, prior to the related
Servicing Shift Securitization Date, the applicable rate per annum set forth on Exhibit B to this Agreement.
With respect to Non-Serviced Mortgage Loans, except as provided for on Exhibit B to this Agreement, no Primary Servicing
Fee Rate will be charged by the Master Servicer, but the Non-Serviced Mortgage Loan Primary Servicing Fee Rate is charged by the
applicable Other Servicer pursuant to the related Other Pooling and Servicing Agreement.


 






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“Prime Rate”: The
“Prime Rate” as published in the “Money Rates” section of The Wall Street Journal, Eastern
edition (or, if such section or publication is no longer available, such other comparable publication as determined by the Certificate
Administrator in its reasonable discretion) as may be in effect from time to time, or, if the “Prime Rate” no longer
exists, such other comparable rate (as determined by the Certificate Administrator in its reasonable discretion) as may be in effect
from time to time. The Certificate Administrator shall notify in writing the Master Servicer and the Special Servicer with regard
to any determination of the Prime Rate in accordance with the parenthetical in the preceding sentence.


 


“Principal Distribution Amount”:
For any Distribution Date, an amount equal to the sum of the following amounts (without duplication):


 


(a)          the Principal Shortfall
for such Distribution Date;


 


(b)          the Scheduled Principal
Distribution Amount for that Distribution Date;


 


(c)          the Unscheduled
Principal Distribution Amount for that Distribution Date;


 


provided, that the Principal
Distribution Amount for any Distribution Date will be reduced, to not less than zero, by the amount of any reimbursements of:


 


(A)          Nonrecoverable Advances
(including any servicing advance with respect to the Non-Serviced Mortgage Loan under the related Other Pooling and Servicing Agreement
reimbursed out of general collections on the Mortgage Loans), with interest on such Nonrecoverable Advances at the Reimbursement
Rate that are paid or reimbursed from principal collections on the Mortgage Loans in a period during which such principal collections
would have otherwise been included in the Principal Distribution Amount for such Distribution Date; and


 


(B)          Workout-Delayed Reimbursement
Amounts paid or reimbursed from principal collections on the Mortgage Loans in a period during which such principal collections
would have otherwise been included in the Principal Distribution Amount for such Distribution Date;


 


provided that, in the case of
clauses (A) and (B) above, if any of the amounts that were reimbursed from principal collections on the Mortgage
Loans are subsequently recovered on the related Mortgage Loan, such recovery will increase the Principal Distribution Amount for
the Distribution Date related to the period in which such recovery occurs.


 


The principal component of the amounts set
forth above shall be determined in accordance with Section 1.02 of this Agreement.


 


“Principal Prepayment”:
Any payment of principal made by a Borrower on a Mortgage Loan or Serviced Companion Loan which is received in advance of its scheduled
due date and which is not accompanied by an amount of interest representing the full amount of scheduled interest due on any date
or dates in any month or months subsequent to the month of prepayment.


 



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“Principal Shortfall”:
For any Distribution Date, the amount, if any, by which (i) the Principal Distribution Amount for the preceding Distribution
Date exceeds (ii) the aggregate amount actually distributed with respect to principal on the Certificates on such preceding
Distribution Date in respect of such Principal Distribution Amount.


 


“Private Certificate”:
Each of the Class A-3B, Class X-B, Class X-C, Class X-D, Class X-E, Class X-F, Class D, Class E, Class F, Class G, Class H and
Class R Certificates.


 


“Private Global Certificate”:
Each of the Regulation S Global Certificates or Rule 144A Global Certificates with respect to the Private Certificates if
and so long as such class of Certificates is registered in the name of a nominee of the Depository.


 


“Private Placement Memorandum”:
Means the Private Placement Memorandum, dated April 5, 2016, pursuant to which the Private Certificates will be offered for
sale.


 


“Privileged Information”:
Any (i) correspondence or other communications between a Directing Holder and the Special Servicer related to any Specially
Serviced Loan or the exercise of the consent or consultation rights of a Directing Holder under this Agreement or any related Intercreditor
Agreement, (ii) strategically sensitive information that the Special Servicer has reasonably determined could compromise the
Trust Fund’s position in any ongoing or future negotiations with the related Borrower or other interested party, (iii) information
subject to attorney-client privilege and (iv) any Asset Status Report or Final Asset Status Report.


 


“Privileged Information Exception”:
With respect to any Privileged Information, at any time (a) such Privileged Information becomes generally available and known
to the public other than as a result of a disclosure directly or indirectly by the party restricted from disclosing such Privileged
Information (the “Restricted Party”), (b) it is reasonable and necessary for the Restricted Party to disclose
such Privileged Information in working with legal counsel, auditors, taxing authorities or other governmental agencies, (c) such
Privileged Information was already known to such Restricted Party and not otherwise subject to a confidentiality obligation and/or
(d) the Restricted Party is (in the case of the Master Servicer, the Special Servicer, the Operating Advisor, the Asset Representations
Reviewer, the Certificate Administrator or the Trustee, as evidenced by an opinion of counsel (which will be an additional expense
of the Trust) delivered to each of the Master Servicer, the Special Servicer, the Directing Holder with respect to such Mortgage
Loan, the Operating Advisor, the Asset Representations Reviewer, Certificate Administrator and the Trustee), required by rule,
regulation, order, judgment or decree to disclose such information.


 


“Privileged Person”:
The Depositor and its designees, the Initial Purchasers, the Underwriters, the Mortgage Loan Sellers, the Master Servicer, the
Special Servicer (including, for the avoidance of doubt, any Excluded Special Servicer), the Trustee, the Certificate Administrator,
any Additional Servicer designated by the Master Servicer or the Special Servicer, the Directing Holder (but only prior to the
occurrence of a Consultation Termination Event), the Operating Advisor, any Affiliate of the Operating Advisor designated by the
Operating Advisor, the Asset Representations Reviewer, any Serviced Companion Loan Noteholder who provides a certification substantially
in the form of Exhibit FF hereto, any Person who provides the Certificate Administrator with an Investor Certification and
any NRSRO (including any Rating Agency) that provides the Certificate Administrator with a


 



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NRSRO Certification, which Investor
Certification and NRSRO Certification may be submitted electronically via the Certificate Administrator’s Website;
provided, however, that in no event may a Borrower Party (other than a Borrower Party that is the Special
Servicer) be entitled to receive (i) if such party is the Directing Holder or any Controlling Class Certificateholder, any Excluded
Information via the Certificate Administrator’s Website (unless a loan-by-loan segregation is later performed by the Certificate
Administrator in which case such access shall only be prohibited with respect to the related Excluded Controlling Class Loan(s)),
and (ii) if such party is not the Directing Holder or any Controlling Class Certificateholder, any information other than the Distribution
Date Statement.


 


Notwithstanding anything to the contrary
in this Agreement, if the Special Servicer obtains knowledge that it is a Borrower Party, the Special Servicer shall nevertheless
be a Privileged Person; provided that the Special Servicer (i) shall not directly or indirectly provide any information
solely related to the related Excluded Special Servicer Mortgage Loan to (A) the related Borrower Party, (B) any of the Special
Servicer’s employees or personnel or any of its Affiliate involved in the management of any investment in the related Borrower
Party or the related Mortgaged Property or (C) to its actual knowledge, any non-Affiliate that holds a direct or indirect ownership
interest in the related Borrower Party, and (ii) shall maintain sufficient internal controls and appropriate policies and procedures
in place in order to comply with the obligations described in clause (i) above; provided, further, that nothing in this Agreement
shall be construed as an obligation of the Master Servicer or the Certificate Administrator to restrict the Special Servicer’s
access to any information on the Master Servicer’s website or the Certificate Administrator’s Website and in no case
shall the Master Servicer or the Certificate Administrator be held liable if the Special Servicer accesses any of the items listed
in the definition of Excluded Information relating to the Excluded Special Servicer Mortgage Loans.


 


“Prohibited Party”:
Any proposed Servicing Function Participant that is listed on the Depositor’s Do Not Hire List.


 


“Property Protection Expenses”:
With respect to any Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced Whole Loan, any costs and expenses incurred
by the Master Servicer or the Special Servicer pursuant to Section 3.04, Section 3.08(a), Section 3.10,
Section 3.11, Section 3.15(a), Section 3.15(b), Section 3.15(c), Section 3.16(c)
or Section 3.24(a) of this Agreement or indicated herein as being payable as a Servicing Advance or as a cost or expense
of the Trust Fund (and, in the case of the Serviced Whole Loans, the Serviced Companion Loan Noteholders but subject to the provisions
of Section 1.02(e)) or the Lower-Tier REMIC or Upper-Tier REMIC to be paid out of the Collection Account.


 


“Proposed Course of Action
Notice”: As defined in Section 2.03(l)(i).


 


“Prospectus”: The
Depositor’s Prospectus dated April 5, 2016, relating to the offering of the Publicly Offered Certificates.


 


“PTCE”: Prohibited
Transaction Class Exemption.


 


“Publicly Offered Certificates”:
Each of the Class A-1, Class A-2, Class A-SB, Class A-3A, Class A-4, Class X-A, Class A-M, Class B and Class C Certificates.


 



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“Publicly Offered Global Certificates”:
Each of the Publicly Offered Certificates, if and so long as the applicable Class of Publicly Offered Certificates is registered
in the name of the Depository.


 


“Purchase Price”:
With respect to (i) any Mortgage Loan to be repurchased or purchased pursuant to Section 2.03(e) or Section 9.01
of this Agreement, (ii) any Specially Serviced Loan or any Serviced REO Loan to be sold pursuant to Section 3.16 of
this Agreement or (iii) any Defaulted Loan that is a Non-Serviced Mortgage Loan to be sold by the Special Servicer in accordance
with the proviso in Section 3.16(b) of this Agreement, an amount, calculated by the Master Servicer (with respect to Performing
Loans) or the Special Servicer (with respect to Specially Serviced Loans or Serviced REO Loans), as applicable, equal to:


 


(a)          the outstanding
principal balance of such Mortgage Loan (or related REO Loan) as of the date of purchase; plus


 


(b)          all accrued and
unpaid interest on such Mortgage Loan at the related Mortgage Rate in effect from time to time to but not including the Due Date
immediately preceding or coinciding with the Determination Date for the Collection Period of purchase, but excluding any Default
Interest; plus


 


(c)          all related unreimbursed
Servicing Advances plus accrued and unpaid interest on related Advances at the Reimbursement Rate, and all Special Servicing Fees
and Workout Fees allocable to such Mortgage Loan (and, in the case of a Non-Serviced Mortgage Loan, unpaid fees payable to the
applicable servicer, Other Servicer, the Other Special Servicer or the Other Trustee allocable to such Mortgage Loan); plus


 


(d)          any Liquidation
Fee due pursuant to Section 3.12 of this Agreement allocable to such Mortgage Loan or Specially Serviced Loan; plus


 


(e)          all Additional Trust
Fund Expenses allocable to such Mortgage Loan; plus


 


(f)          if such Mortgage
Loan (or related REO Loan) is being purchased or substituted by a Mortgage Loan Seller pursuant to the related Mortgage Loan Purchase
Agreement, to the extent not otherwise included in the amount described in clause (c) of this definition, any unpaid
Asset Representations Reviewer Asset Review Fee related to such Mortgage Loan and all reasonable out-of-pocket expenses reasonably
incurred or to be incurred by the Master Servicer, the Special Servicer, the Depositor, the Certificate Administrator and the Trustee
in respect of the Breach or Defect giving rise to the repurchase obligation, including any such expenses arising out of the enforcement
of the repurchase obligation, including, without duplication, any such expenses previously reimbursed from the Collection Account
or the applicable Serviced Whole Loan Collection Account, as applicable, plus accrued and unpaid interest thereon at the Reimbursement
Rate, to the extent payable to the Master Servicer, the Special Servicer, the Certificate Administrator, the Asset Representations
Reviewer or the Trustee; provided, however, that such out-of-pocket expenses shall not include expenses incurred
by Certificateholders or Certificate Owners in instituting an Asset Review Vote Election, in taking part in an Asset Review vote
or in exercising such Certificateholder’s or


 



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Certificate Owner’s, as applicable, rights under the dispute resolution
mechanics pursuant to Section 2.03(k) hereof.


 


For purposes of this Agreement, (i) the
“Purchase Price” in respect of a Serviced Companion Loan that is purchased by the related Mortgage Loan Seller shall
be the purchase price paid by the related Mortgage Loan Seller under the related Other Pooling and Servicing Agreement or the applicable
servicing agreement and (ii) with respect to a sale of an REO Property securing a Serviced Whole Loan, the term Mortgage Loan
or REO Loan shall be construed to include any related Companion Loans.


 


“Qualified Affiliate”:
Any Person (a) that is organized and doing business under the laws of any state of the United States or the District of Columbia,
(b) that is in the business of performing the duties of a servicer of mortgage loans (or, in the case of the Operating Advisor,
that is in the business of performing the duties of an operating advisor), and (c) as to which 50% or greater of its outstanding
voting stock or equity ownership interest are directly or indirectly owned by the Master Servicer, the Special Servicer or the
Operating Advisor, as applicable, or by any Person or Persons who directly or indirectly own equity ownership interests in the
Master Servicer, the Special Servicer or the Operating Advisor, as applicable.


 


“Qualified Institutional Buyer”:
A “qualified institutional buyer” within the meaning of Rule 144A.


 


“Qualified Insurer”:
As used in Section 3.08 of this Agreement,


 


(i) in the case of
each Mortgage Loan or Serviced Pari Passu Whole Loan, an insurance company or security or bonding company qualified to write the
related insurance policy in the relevant jurisdiction and whose claims paying ability is rated (a) at least “A(low)”
by DBRS (or, if not rated by DBRS, an equivalent (or higher) rating by at least two NRSROs (which may include S&P, Fitch and/or
Moody’s) or one NRSRO (which may include S&P, Fitch and/or Moody’s) and A.M. Best), (b) at least “A3”
by Moody’s (or, if not rated by Moody’s, an equivalent rating by (x) at least two NRSROs (which may include S&P,
DBRS and/or Fitch) or (y) one NRSRO (which may include S&P, DBRS and/or Fitch) and A.M. Best), and (c) at least “A”
by Fitch (or, if not rated by Fitch, at least “A-” or an equivalent (or higher) rating by (x) at least two NRSROs
(which may include S&P, DBRS and/or Moody’s) or (y) one NRSRO (which may include S&P, DBRS and/or Moody’s)
and AM Best), and


 


(ii) in the case of
the fidelity bond and the errors and omissions insurance required to be maintained pursuant to Section 3.08(d) of this Agreement,
a company that shall have a claim paying ability rated at least equal to any one of the following: (1) “A-” or better
by S&P, (2) “A3” or better by Moody’s, (3) “A-” or better by Fitch, (4) “A (low)”
or better by DBRS or (5) “A-:X” or better by A.M. Best,


 


or, in the case of clauses
(i) and (ii), such other rating as to which the related Rating Agency (and, if applicable, the related Serviced Companion Rating
Agency) has provided a Rating Agency Confirmation relating to the Certificates and any Serviced Companion Loan Securities (subject
to the foregoing exceptions).


 



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“Qualified Mortgage”:
A Mortgage Loan that is a “qualified mortgage” within the meaning of Section 860G(a)(3) of the Code (but without
regard to the rule in Treasury Regulations Section 1.860G-2(f)(2) that treats a defective obligation as a qualified mortgage),
or any substantially similar successor provision.


 


“Qualified Substitute Mortgage
Loan”: A substitute mortgage loan (other than with respect to the Whole Loans, for which no substitution shall be permitted)
replacing a Mortgage Loan with respect to which a Material Breach or Material Defect exists that must, on the date of substitution:
(i) have an outstanding Stated Principal Balance, after application of all scheduled payments of principal and/or interest
due during or prior to the month of substitution, whether or not received, not in excess of the Stated Principal Balance of the
Removed Mortgage Loan as of the Due Date in the calendar month during which the substitution occurs; (ii) have a fixed Mortgage
Rate not less than the Mortgage Rate of the Removed Mortgage Loan (determined without regard to any prior modification, waiver
or amendment of the terms of the removed Mortgage Loan); (iii) have the same Due Date and a grace period no longer than that
of the Removed Mortgage Loan; (iv) accrue interest on the same basis as the Removed Mortgage Loan (for example, on the basis
of a 360-day year and the actual number of days elapsed); (v) have a remaining term to stated maturity not greater than, and
not more than five years less than, the remaining term to stated maturity of the Removed Mortgage Loan; (vi) have a then-current
loan to value ratio equal to or less than the lesser of (i) the loan to value ratio for the Removed Mortgage Loan as of the Closing
Date and (ii) 75%, in each case using the “value for the Mortgaged Property as determined using an Appraisal prepared in
accordance with the requirements of the FIRREA; (vii) comply as of the date of substitution in all material respects with
all of the representations and warranties set forth in the applicable Mortgage Loan Purchase Agreement; (viii) have an Environmental
Report that indicates no material adverse environmental conditions with respect to the related Mortgaged Property and that will
be delivered as a part of the related Servicing File; (ix) have a then-current Debt Service Coverage Ratio at least equal
to the greater of (i) the original Debt Service Coverage Ratio of the Removed Mortgage Loan as of the Closing Date and (ii) 1.25x;
(x) be determined by an Opinion of Counsel (at the applicable Mortgage Loan Seller’s expense) to be a “qualified
replacement mortgage” within the meaning of Section 860G(a)(4) of the Code; (xi) not have a maturity date or an
amortization period that extends to a date that is after the date that is two years prior to the Rated Final Distribution Date;
(xii) have comparable prepayment restrictions to those of the Replaced Mortgage Loan; (xiii) not be substituted for a Removed
Mortgage Loan unless the Certificate Administrator and the Trustee have received a Rating Agency Confirmation from each of the
Rating Agencies (the cost, if any, of obtaining such Rating Agency Confirmation to be paid by the applicable Mortgage Loan Seller;
(xiv) have been approved, so long as no Control Termination Event has occurred and is not continuing, by the Directing Holder;
(xv) prohibit defeasance within two years after the Closing Date; (xvi) not be substituted for a Removed Mortgage Loan
if it would result in the termination of the REMIC status of any Trust REMIC or the imposition of tax on any Trust REMIC other
than a tax on income expressly permitted or contemplated to be received by the terms of this Agreement, as determined by an Opinion
of Counsel (at the cost of the applicable Mortgage Loan Seller); (xvii) have an engineering report that indicates no material adverse
property condition or deferred maintenance with respect to the related Mortgaged Property that will be delivered as a part of the
related Servicing File; and (xviii) be current in the payment of all scheduled payments of principal and interest then due.
In the event that one or more mortgage loans are substituted for one or more Removed Mortgage


 



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Loans, then the amounts described
in clause (i) shall be determined on the basis of aggregate Stated Principal Balances and each such proposed Qualified
Substitute Mortgage Loan must individually satisfy each of the requirements specified in clauses (ii) through (xviii) above,
except the rates referred to in clause (ii) above and the remaining term to stated maturity referred to in clause (v) above
shall be determined on a weighted average basis; provided that no individual Mortgage Rate shall be lower than the highest
Pass-Through Rate (that is a fixed rate not subject to a cap equal to the WAC Rate) of any Class of Sequential Pay Certificates
having an outstanding Certificate Balance. When a Qualified Substitute Mortgage Loan is substituted for a Removed Mortgage Loan,
the applicable Mortgage Loan Seller shall certify that the Mortgage Loan meets all of the requirements of the above definition
and shall send such certification to the Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer,
the Trustee and, for so long as no Consultation Termination Event has occurred, the Directing Holder.


 


“RAC No-Response Scenario”:
As defined in Section 3.30(a).


 


“Rated Final Distribution
Date”: The Distribution Date in May 2049. The Class R Certificates will not have a Rated Final Distribution Date.


 


“Rating Agency”:
Any of Moody’s, Fitch or DBRS; provided, that with respect to any matter affecting a Non-Serviced Mortgage Loan or
any Serviced Whole Loan, “Rating Agency” shall also refer to any rating agency engaged to rate the Serviced Companion
Loan Securities related to such Serviced Whole Loan or securities related to such Non-Serviced Mortgage Loan, as applicable.


 


“Rating Agency Confirmation”
shall mean, with respect to any matter, confirmation in writing (which may be in electronic form) by each applicable Rating Agency
that a proposed action, failure to act or other event so specified will not, in and of itself, result in the downgrade, withdrawal
or qualification of the then-current rating assigned to any Class of Certificates if then rated by the Rating Agency; provided
that a written waiver or other acknowledgment from any Rating Agency indicating its decision not to review the matter for which
the Rating Agency Confirmation is sought shall be deemed to satisfy the requirement for the Rating Agency Confirmation from such
Rating Agency with respect to such matter. At any time during which no Certificates are rated by a Rating Agency, no Rating Agency
Confirmation shall be required from that Rating Agency. With respect to any matter affecting any Serviced Pari Passu Companion
Loan, any Rating Agency Confirmation shall also refer to the nationally recognized statistical rating organizations then rating
the securities representing an interest in such loan and such rating organizations’ respective ratings of such securities.


 


“Rating Agency Q&A Forum
and Document Request Tool”: As defined in Section 3.14(d) of this Agreement.


 


“Real Property”:
Land or improvements thereon such as buildings or other inherently permanent structures thereon (including items that are structural
components of the buildings or structures), in each such case as such terms are used in the REMIC Provisions.


 


“Realized Loss”:
With respect to any Distribution Date, the amount, if any, by which the aggregate Certificate Balance of the Sequential Pay Certificates,
after giving effect to


 



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distributions of principal on such Distribution Date, exceeds the aggregate Stated Principal Balance of
the Mortgage Loans in the Mortgage Pool (for purposes of this calculation only, not giving effect to any reductions of the Stated
Principal Balance for principal payments received on the Mortgage Loans in the Mortgage Pool that were used to reimburse the Master
Servicer or the Trustee from general collections of principal on the Mortgage Loans for Workout-Delayed Reimbursement Amounts,
to the extent such Workout-Delayed Reimbursement Amounts are not otherwise determined to be Nonrecoverable Advances) immediately
following the Determination Date preceding such Distribution Date.


 


“Reassignment of Assignment
of Leases, Rents and Profits”: As defined in Section 2.01(a)(viii) of this Agreement.


 


“Record Date”: With
respect to each Distribution Date, the close of business on the last Business Day of the calendar month preceding the month in
which such Distribution Date occurs.


 


“Regular Certificates”:
The Class A-1, Class A-2, Class A-SB, Class A-3A, Class A-3B, Class A-4, Class X-A, Class X-B, Class X-C, Class X-D, Class
X-E, Class X-F, Class A-M, Class B, Class C, Class D, Class E, Class F, Class G and Class H Certificates.


 


“Regulation AB”:
Subpart 229.1100 – Asset Backed Securities (Regulation AB), 17 C.F.R. §§ 229.1100-229.1125, as such may be amended
from time to time, and subject to such clarification and interpretation as have been provided by the Commission or by the staff
of the Commission, or as may be provided by the Commission or its staff from time to time, in each case as effective from time
to time as of the compliance dates specified therein.


 


“Regulation D”:
Regulation D under the Act.


 


“Regulation S”:
Regulation S under the Act.


 


“Regulation S Global Certificate”:
Each of the Class X-B, Class X-C, Class X-D, Class X-E, Class X-F, Class D, Class E, Class F, Class G and Class H Certificates
issued as such on the Closing Date.


 


“Regulation S Investor”:
With respect to a transferee of an interest in a Regulation S Global Certificate, a transferee that acquires such interest pursuant
to Regulation S.


 


“Regulation S Transfer Certificate”:
As defined in Section 5.02(c)(i)(B) of this Agreement.


 


“Reimbursement Rate”:
The rate per annum applicable to the accrual of interest on Servicing Advances in accordance with Section 3.21(e)
and P&I Advances in accordance with Section 4.07(h), which rate per annum shall equal the Prime Rate. Interest
at the Reimbursement Rate will accrue from (and including) the date on which the related Advance is made or the related expense
incurred to (but excluding) the date on which such amounts are recovered out of amounts received on the Mortgage Loan as to which
such Advances were made or servicing expenses incurred or the first Master Servicer Remittance Date after a determination of non-recoverability,
as the case may be, is made; provided that such interest at the


 






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Reimbursement Rate will continue to accrue to the extent
funds are not available in the Collection Accounts for such reimbursement of such Advance; provided, further, that
no interest will accrue on any P&I Advance (i) made with respect to a Mortgage Loan until after the related Due Date has passed
and any applicable Grace Period has expired or (ii) if the related Periodic Payment is received after the Determination Date but
on or prior to the Business Day immediately prior to the related Distribution Date.


 


“Relevant Distribution Date”:
means with respect to (a) any Significant Obligor with respect to the Trust, the Distribution Date, and (b) any “significant
obligor” (within the meaning of Item 1101(k) of Regulation AB) with respect to an Other Securitization holding a Serviced
Companion Loan, the “Distribution Date” (or analogous concept) under the related Other Pooling and Servicing Agreement.


 


“Relevant Servicing Criteria”:
The Servicing Criteria applicable to each Reporting Servicer (as set forth, with respect to the Master Servicer, the Special Servicer,
the Certificate Administrator and the Trustee on Schedule II to this Agreement). For clarification purposes, multiple Reporting
Servicers can have responsibility for the same Relevant Servicing Criteria and some of the Servicing Criteria will not be applicable
to certain Reporting Servicers. With respect to a Servicing Function Participant engaged by the Master Servicer, the Special Servicer,
the Certificate Administrator or the Trustee, the term “Relevant Servicing Criteria” refers to the items of the Relevant
Servicing Criteria applicable to the Master Servicer, the Special Servicer, the Certificate Administrator or the Trustee that engaged
such Servicing Function Participant that are applicable to such Servicing Function Participant based on the functions it has been
engaged to perform.


 


“REMIC”: A “real
estate mortgage investment conduit” within the meaning of Section 860D of the Code and the REMIC Provisions.


 


“REMIC Provisions”:
Provisions of the federal income tax law relating to real estate mortgage investment conduits, which appear at Section 860A
through 860G of subchapter M of chapter 1 of the Code, and related provisions, and regulations (including any applicable
proposed regulations) and rulings promulgated thereunder, as the foregoing may be in effect from time to time.


 


“Removed Mortgage Loan”:
A Mortgage Loan which is repurchased from the Trust Fund pursuant to the terms hereof or as to which one or more Qualified Substitute
Mortgage Loans are substituted.


 


“Renaissance Providence Downtown
Hotel Companion Loan”: As defined in the Preliminary Statement.


 


“Renaissance Providence Downtown
Hotel Mortgage Loan”: As defined in the Preliminary Statement.


 


“Renaissance Providence Downtown
Hotel Pari Passu Note A-1”: The promissory note designated as Note A-1, which evidences a portion of the Renaissance
Providence Downtown Hotel Whole Loan. The Renaissance Providence Downtown Hotel Pari Passu Note A-1 is included in the Trust Fund
and is pari passu in right of payment to the


 



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Renaissance Providence Downtown Hotel Pari Passu Note A-2, as set forth in
the related Intercreditor Agreement. The Renaissance Providence Downtown Hotel Pari Passu Note A-1 is a Mortgage Loan.


 


“Renaissance Providence Downtown
Hotel Pari Passu Note A-2”: The promissory note designated as Note A-2, which evidences a portion of the Renaissance
Providence Downtown Hotel Whole Loan. The Renaissance Providence Downtown Hotel Pari Passu Note A-2 is not included in the Trust
Fund and is pari passu in right of payment to the Renaissance Providence Downtown Hotel Pari Passu Note A-1, as set forth
in the related Intercreditor Agreement. As of the Closing Date, the Renaissance Providence Downtown Hotel Pari Passu Note A-2 is
held by JPMCB.


 


“Renaissance Providence Downtown
Hotel Whole Loan”: The Renaissance Providence Downtown Hotel Companion Loan, together with the Renaissance Providence
Downtown Hotel Mortgage Loan. References herein to the Renaissance Providence Downtown Hotel Whole Loan shall be construed to refer
to the aggregate indebtedness under the Renaissance Providence Downtown Hotel Pari Passu Note A-1 and the Renaissance Providence
Downtown Hotel Pari Passu Note A-2.


 


“Rents from Real Property”:
With respect to any Serviced REO Property, gross income of the character described in Section 856(d) of the Code, which
income, subject to the terms and conditions of that Section of the Code in its present form, does not include:


 


(a)          except as provided
in Section 856(d)(4) or Section 856(d)(6) of the Code, any amount received or accrued, directly or indirectly, with respect
to such Serviced REO Property, if the determination of such amount depends in whole or in part on the income or profits derived
by any Person from such property (unless such amount is a fixed percentage or percentages of receipts or sales and otherwise constitutes
Rents from Real Property);


 


(b)          any amount received
or accrued, directly or indirectly, from any Person if the Trust Fund owns directly or indirectly (including by attribution) a
ten percent or greater interest in such Person determined in accordance with Sections 856(d)(2)(B) and Section 856(d)(5)
of the Code;


 


(c)          any amount received
or accrued, directly or indirectly, with respect to such Serviced REO Property if any Person Directly Operates such Serviced REO
Property;


 


(d)          any amount charged
for services that are not customarily furnished in connection with the rental of property to tenants in buildings of a similar
class in the same geographic market as such Serviced REO Property within the meaning of Treasury Regulations Section 1.856-4(b)(1) (whether
or not such charges are separately stated); and


 


(e)          rent attributable
to personal property unless such personal property is leased under, or in connection with, the lease of such Serviced REO Property
and, for any taxable year of the Trust Fund, such rent is no greater than 15 percent of the total rent received or accrued under,
or in connection with, the lease.


 



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“REO Account”: As
defined in Section 3.15(b) of this Agreement.


 


“REO Loan”: Any
Mortgage Loan (excluding any Non-Serviced Mortgage Loan) or Serviced Whole Loan as to which the related Mortgaged Property has
become an REO Property.


 


“REO Proceeds”:
With respect to any Serviced REO Property and the related Serviced REO Loan, all revenues received by the Special Servicer with
respect to such Serviced REO Property or Serviced REO Loan which do not constitute Liquidation Proceeds.


 


“REO Property”:
A Mortgaged Property title to which has been acquired by the Special Servicer on behalf of the Trust Fund through foreclosure,
deed in lieu of foreclosure or otherwise, or in the case of a Non-Serviced Mortgage Loan, the Trust Fund’s beneficial interest
in the Mortgaged Property acquired by the Other Trustee pursuant to the Other Pooling and Servicing Agreement.


 


“Replacement Mortgage Loan”:
Any Qualified Substitute Mortgage Loan that is substituted for one or more Removed Mortgage Loans.


 


“Reporting Servicer”:
As defined in Section 10.12 of this Agreement.


 


“Repurchase Communication”:
For purposes of Section 2.03(d) of this Agreement only, any communication, whether oral or written, which need not
be in any specific form.


 


“Repurchase”: As
defined in Section 2.03(d) of this Agreement.


 


“Repurchase Request”:
As defined in Section 2.03(d) of this Agreement.


 


“Repurchase Request Recipient”:
As defined in Section 2.03(d) of this Agreement.


 


“Repurchase Request Rejection”:
As defined in Section 2.03(d) of this Agreement.


 


“Repurchase Request Withdrawal”:
As defined in Section 2.03(d) of this Agreement.


 


“Request for Release”:
A request for a release signed by a Servicing Officer, substantially in the form of Exhibit E to this Agreement.


 


“Requesting Certificateholder”:
As defined in Section 2.03(l)(iii).


 


“Requesting Holders”:
As defined in Section 4.08(b) of this Agreement.


 


“Requesting Investor”:
As defined in Section 5.05(a) of this Agreement.


 


“Reserve Accounts”:
With respect to any Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced Whole Loan, reserve accounts, if any, established
pursuant


 



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to the Mortgage or the Loan Agreement and any Escrow Account. Any Reserve Account may be a sub-account of a related Cash
Collateral Account. Any Reserve Account shall be beneficially owned for federal income tax purposes by the Person who is entitled
to receive the reinvestment income or gain thereon in accordance with the terms and provisions of the related Mortgage Loan or
Serviced Whole Loan and Section 3.07 of this Agreement, which Person shall be taxed on all reinvestment income or gain
thereon. The Master Servicer shall be permitted to make withdrawals therefrom for deposit into the related Cash Collateral Account,
if applicable, or the Collection Account or for the purposes set forth under the related Loan Documents for the related Mortgage
Loan or Serviced Whole Loan.


 


“Resolution Extension Period”
shall mean:


 


(a)          for purposes of
remediating a Material Breach with respect to any Mortgage Loan, the 90-day period following the end of the applicable Initial
Resolution Period;


 


(b)          for purposes of
remediating a Material Defect with respect to any Mortgage Loan that is a Performing Loan at the commencement of, and does not
become a Specially Serviced Loan during, the applicable Initial Resolution Period, the period commencing at the end of the applicable
Initial Resolution Period and ending on, and including, the earlier of (i) the 90th day following the end of such Initial
Resolution Period and (ii) the 45th day following the applicable Mortgage Loan Seller’s receipt of written notice from
the Master Servicer or the Special Servicer of the occurrence of any Servicing Transfer Event with respect to such Mortgage Loan
subsequent to the end of such Initial Resolution Period;


 


(c)          for purposes of
remediating a Material Defect with respect to any Mortgage Loan that is a Performing Loan as of the commencement of the applicable
Initial Resolution Period, but as to which a Servicing Transfer Event occurs during such Initial Resolution Period, the period
commencing at the end of the applicable Initial Resolution Period and ending on, and including, the 90th day following the earlier
of the end of such Initial Resolution Period and the applicable Mortgage Loan Seller’s receipt of written notice from the
Master Servicer or the Special Servicer of the occurrence of such Servicing Transfer Event; and


 


(d)          for purposes of
remediating a Material Defect with respect to any Mortgage Loan that is a Specially Serviced Loan as of the commencement of the
applicable Initial Resolution Period, zero (-0-) days; provided that, if the applicable Mortgage Loan Seller did not receive
written notice from the Master Servicer or the Special Servicer of the relevant Servicing Transfer Event as of the commencement
of the applicable Initial Resolution Period, then such Servicing Transfer Event shall be deemed to have occurred during such Initial
Resolution Period and clause (c) of this definition will be deemed to apply.


 


“Resolution Failure”:
As defined in Section 2.03(k).


 


“Resolved”: With
respect to a Repurchase Request, (i) that the related Defect or Breach has been cured, (ii) the related Mortgage Loan has been
repurchased in accordance with


 



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the related Mortgage Loan Purchase Agreement, (iii) a mortgage loan has been substituted for the
related Mortgage Loan in accordance with the related Mortgage Loan Purchase Agreement, (iv) the applicable Mortgage Loan Seller
made the Loss of Value Payment, (v) a contractually binding agreement entered into between the Special Servicer, on behalf of the
Trust, and the related Mortgage Loan Seller that settles the related Mortgage Loan Seller’s obligations under the related
Mortgage Loan Purchase Agreement, or (vi) the related Mortgage Loan is no longer property of the Trust as a result of a sale or
other disposition in accordance with this Agreement.


 


“Responsible Officer”:
When used with respect to the Trustee or the Certificate Administrator, any officer of the Trustee or the Certificate Administrator,
as the case may be, assigned to the Corporate Trust Office of such party; in each case, with direct responsibility for the administration
of this Agreement and also, with respect to a particular matter, any other officer to whom such matter is referred because of such
officer’s knowledge of and familiarity with the particular subject, and, in the case of any certification required to be
signed by a Responsible Officer, such an officer whose name and specimen signature appears on a list of corporate trust officers
furnished to the Master Servicer by the Trustee and the Certificate Administrator, as such list may from time to time be amended.


 


“Restricted Certificate”:
As defined in Section 5.02(k) of this Agreement.


 


“Restricted Mezzanine Holder”:
A holder of a related mezzanine loan that has been accelerated or as to which the mezzanine lender has initiated foreclosure or
enforcement proceedings against the equity collateral pledged to secure such mezzanine loan.


 


“Restricted Period”:
The 40-day period prescribed by Regulation S commencing on the later of (a) the date upon which the Certificates are first
offered to persons other than the Initial Purchasers and any other distributor (as defined in Regulation S) of the Certificates
and (b) the Closing Date.


 


“Rule 144A”:
Rule 144A under the Act.


 


“Rule 144A Global Certificate”:
Each of the Class X-B, Class X-C, Class X-D, Class X-E, Class X-F, Class D, Class E, Class F, Class G and Class H Certificates
issued as such on the Closing Date.


 


“Rule 15Ga-1 Notice”:
As defined in Section 2.03(d) of this Agreement.


 


“Rule 15Ga-1 Notice Provider”:
As defined in Section 2.03(d) of this Agreement.


 


“S&P”: Standard
and Poor’s Ratings Services, a Standard & Poor’s Financial Services LLC business, or its successor in interest.
If neither such rating agency nor any successor remains in existence, “S&P” shall be deemed to refer to such other
nationally recognized statistical rating agency or other comparable Person reasonably designated by the Depositor, notice of which
designation shall be given to the other parties hereto, and specific ratings of S&P herein referenced shall be deemed to refer
to the equivalent ratings of the party so designated.


 



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“Sarbanes Oxley Act”:
The Sarbanes Oxley Act of 2002 and the rules and regulations of the Commission promulgated thereunder (including any interpretations
thereof by the Commission’s staff).


 


“Sarbanes Oxley Certification”:
As defined in Section 10.08 of this Agreement.


 


“Scheduled Principal Distribution
Amount”: With respect to any Distribution Date and the Mortgage Loans, the aggregate of the principal portions of the
following: (a) all Periodic Payments (excluding Balloon Payments) with respect to the Mortgage Loans due during or, if and
to the extent not previously received or advanced pursuant to Section 4.07 in respect of a preceding Distribution Date (and
not previously distributed to Certificateholders), prior to, the related Collection Period, and all Assumed Scheduled Payments
with respect to the Mortgage Loans for the related Collection Period, in each case to the extent either (i) paid by the Borrower
as of the Determination Date (or, with respect to each Mortgage Loan with a Due Date occurring or a grace period ending after the
related Determination Date, the related Due Date or last day of such grace period, as applicable, to the extent received by the
Master Servicer as of the Business Day preceding the Master Servicer Remittance Date) or (ii) advanced by the Master Servicer
or the Trustee, as applicable, pursuant to Section 4.07 in respect of such Distribution Date, and (b) all Balloon Payments
with respect to the Mortgage Loans to the extent received on or prior to the related Determination Date (or, with respect to each
Mortgage Loan with a Due Date occurring or a grace period ending after the related Determination Date, the related Due Date or
last day of such grace period, as applicable, to the extent received by the Master Servicer as of the Business Day preceding the
Master Servicer Remittance Date), and to the extent not included in clause (a) above.


 


“Secure Data Room”:
The internet website, which shall initially be located within the Certificate Administrator’s Website (initially “www.ctslink.com”),
under the “Diligence Files” tab on the page relating to this transaction.


 


“Securities Legend”:
As defined in Section 5.02(c)(iii) of this Agreement.


 


“Sequential Pay Certificate”:
The Class A-1, Class A-2, Class A-SB, Class A-3A, Class A-3B, Class A-4, Class A-M, Class B, Class C, Class D, Class E, Class F,
Class G and Class H Certificates.


 


“Serviced Companion Loan”:
With respect to any Serviced Whole Loan, any related mortgage loan not included in the Trust that is serviced under this Agreement
and that is generally (a) payable on a pari passu basis with the related Mortgage Loan included in the Trust to the
extent set forth in the related Intercreditor Agreement or (b) subordinated in right of payment to the related Mortgage Loan
included in the Trust to the extent set forth in the related Intercreditor Agreement. The Williamsburg Premium Outlet Companion
Loans, the 600 Broadway Companion Loans, the SLS South Beach Companion Loan, the Hall Office Park A1/G1/G3 Companion Loan and the
Renaissance Providence Downtown Hotel Companion Loan are the Serviced Companion Loans. With respect to the Hagerstown Premium Outlets
Companion Loans, (i) prior to the Hagerstown Premium Outlets Pari Passu Note A-2 Securitization Date, each Hagerstown Premium Outlets
Companion Loan shall be a Serviced Companion Loan and (ii) on and after the Hagerstown Premium Outlets Pari Passu Note A-2


 



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Securitization
Date, each Hagerstown Premium Outlets Companion Loan shall be a Non-Serviced Companion Loan.


 


“Serviced Companion Loan Rating
Agency Confirmation”: With respect to any matter involving the servicing and administration of a Serviced Companion Loan
or Serviced REO Loan as to which any Serviced Companion Loan Securities exist, confirmation in writing (which may be in electronic
form) by each applicable Serviced Companion Loan Rating Agency that a proposed action, failure to act or other event so specified
will not, in and of itself, result in the downgrade, withdrawal or qualification of the then current rating assigned to any class
of such Serviced Companion Loan Securities (if then rated by such Serviced Companion Loan Rating Agency); provided that
upon receipt of a written waiver or other acknowledgment from a Serviced Companion Loan Rating Agency indicating its decision not
to review or declining to review the matter for which the Serviced Companion Loan Rating Agency Confirmation is sought (such written
notice, a “Serviced Companion Loan Rating Agency Declination”), or as otherwise provided in Section 3.30
of this Agreement, the requirement for the Serviced Companion Loan Rating Agency Confirmation from the applicable Serviced Companion
Loan Rating Agency with respect to such matter shall not apply.


 


“Serviced Companion Loan Noteholder”:
Any holder of a Serviced Companion Loan; provided that for so long as a Serviced Companion Loan is included in an Other
Securitization, for purposes of providing or distributing any reports, statements, notices or other information required or permitted
to be provided to a Serviced Companion Loan Noteholder hereunder, “Serviced Companion Loan Noteholder” shall also include
the related Other Servicer.


 


“Serviced Companion Loan Noteholder
Register”: As defined in Section 3.27(b) of this Agreement.


 


“Serviced Companion Loan Rating
Agency”: With respect to any Serviced Companion Loan, any rating agency that was engaged by a participant in the securitization
of such Serviced Companion Loan to assign a rating to the related Serviced Companion Loan Securities.


 


“Serviced Companion Loan Securities”:
With respect to any Serviced Companion Loan so long as the related Mortgage Loan or any successor Serviced REO Loan is part of
the Mortgage Pool, any class of securities backed by such Serviced Companion Loan. Any reference herein to a “series”
of Serviced Companion Loan Securities shall refer to separate securitizations of one or more of the Serviced Companion Loans.


 


“Serviced Companion Loan Service
Provider”: With respect to any Serviced Pari Passu Companion Loan that has been deposited into a securitization trust,
the related Other Trustee, Other Servicer, Other Special Servicer, any sub-servicer and any other Person that makes principal and/or
interest advances in respect of such mortgage loan pursuant to the related Other Pooling and Servicing Agreement.


 


“Serviced Pari Passu Companion
Loan”: With respect to any Serviced Whole Loan, any related mortgage note not included in the Trust that is serviced
under this Agreement and that is generally payable on a pari passu basis with the related Mortgage Loan included in the
Trust to the extent set forth in the related Intercreditor Agreement. The Williamsburg


 



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Premium Outlet Companion Loans, the 600
Broadway Companion Loans, the SLS South Beach Companion Loan, the Hall Office Park A1/G1/G3 Companion Loan and the Renaissance
Providence Downtown Hotel Companion Loan are the only Serviced Pari Passu Companion Loans. With respect to the Hagerstown Premium
Outlets Companion Loans, (i) prior to the Hagerstown Premium Outlets Pari Passu Note A-2 Securitization Date, each Hagerstown Premium
Outlets Companion Loan shall be a Serviced Pari Passu Companion Loan, and (ii) on and after the Hagerstown Premium Outlets Pari
Passu Note A-2 Securitization Date, each Hagerstown Premium Outlets Companion Loan shall be a Non-Serviced Pari Passu Companion
Loan.


 


“Serviced Pari Passu Companion
Loan Noteholder”: Any holder of a Serviced Pari Passu Companion Loan.


 


“Serviced Pari Passu Whole
Loan”: Any Whole Loan serviced under this Agreement that is divided into one or more notes, which includes a mortgage
note that is included in the Trust and one or more pari passu mortgage notes not included in the Trust. References
herein to a Serviced Pari Passu Whole Loan shall be construed to refer to the aggregate indebtedness under the related notes. The
Williamsburg Premium Outlets Whole Loan, the 600 Broadway Whole Loan, the SLS South Beach Whole Loan, the Hall Office Park A1/G1/G3
Whole Loan and the Renaissance Providence Downtown Hotel Whole Loan are the only Serviced Pari Passu Whole Loans. With respect
to the Hagerstown Premium Outlets Whole Loan, (i) prior to the Hagerstown Premium Outlets Pari Passu Note A-2 Securitization Date,
the Hagerstown Premium Outlets Whole Loan shall be a Serviced Pari Passu Whole Loan, and (ii) on and after the Hagerstown Premium
Outlets Pari Passu Note A-2 Securitization Date, the Hagerstown Premium Outlets Whole Loan shall be a Non-Serviced Pari Passu Whole
Loan.


 


“Serviced REO Loan”:
Any REO Loan that is serviced by the Special Servicer pursuant to this Agreement.


 


“Serviced REO Property”:
Any REO Property that is serviced by the Special Servicer pursuant to this Agreement.


 


“Serviced Subordinate Companion
Loan”: With respect to any Serviced Whole Loan, any related mortgage note not included in the Trust that is serviced
under this Agreement and that is generally subordinated in right of payment to the related Mortgage Loan included in the Trust
to the extent set forth in the related Intercreditor Agreement. There are no Serviced Subordinate Companion Loans related to the
Trust.


 


“Serviced Whole Loan”:
Any Whole Loan serviced under this Agreement that is divided into one or more notes, which includes a mortgage note that is included
in the Trust and (a) one or more Subordinate Companion Loans not included in the Trust and/or (b) one or more pari
passu mortgage notes not included in the Trust. References herein to a Serviced Whole Loan shall be construed to refer to the
aggregate indebtedness under the related notes. The Williamsburg Premium Outlets Whole Loan, the 600 Broadway Whole Loan, the SLS
South Beach Whole Loan, the Hall Office Park A1/G1/G3 Whole Loan and the Renaissance Providence Downtown Hotel Whole Loan are the
only Serviced Whole Loans. With respect to the Hagerstown Premium Outlets Whole Loan, (i) prior to the Hagerstown Premium Outlets
Pari Passu Note A-2 Securitization Date, the Hagerstown Premium Outlets Whole Loan shall be a


 



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Serviced Whole Loan and (ii) on and
after the Hagerstown Premium Outlets Pari Passu Note A-2 Securitization Date, the Hagerstown Premium Outlets Whole Loan shall be
a Non-Serviced Whole Loan.


 


“Serviced Whole Loan Collection
Account”: With respect to each Serviced Whole Loan, the separate account or sub-account created and maintained by the
Master Servicer pursuant to Section 3.05(g) on behalf of the Certificateholders and the related Serviced Companion
Loan Noteholders, which shall be entitled “Wells Fargo Bank, National Association, as Master Servicer, on behalf of Wilmington
Trust, National Association, as Trustee, for the benefit of the Holders of Deutsche Mortgage & Asset Receiving Corporation,
DBJPM 2016-C1 Mortgage Trust Commercial Mortgage Pass-Through Certificates, Series 2016-C1, Serviced Whole Loan Collection Account.”
Amounts in any Serviced Whole Loan Collection Account applicable to the related Serviced Companion Loans shall not be assets of
the Trust Fund, but instead shall be held by the Master Servicer on behalf of the Trust Fund (in respect of amounts reimbursable
therefrom) and, the related Serviced Companion Loan Noteholders. Any such account or sub-account shall be an Eligible Account or
a sub-account of an Eligible Account (including a sub-account of the Collection Account).


 


“Serviced Whole Loan Remittance
Amount”: For each distribution date that a Master Servicer is required to make a distribution to a Serviced Companion
Loan Noteholder pursuant to Section 3.05(h) and with respect to each Serviced Whole Loan and related Mortgaged Property
(if it becomes a Serviced REO Property), any amount received by the Master Servicer (or, with respect to a Serviced REO Property,
the Special Servicer) during the related Collection Period that is payable to the Serviced Companion Loan Noteholder(s) pursuant
to the related Intercreditor Agreement or to be remitted to the Collection Account.


 


“Serviced Whole Loan Remittance
Date”: With respect to any Serviced Companion Loan, (x) prior to contribution of such Serviced Companion Loan to an Other
Securitization, a date as set forth in the related Intercreditor Agreement (or if no such date is specified, the Master Servicer
Remittance Date) and (y) following contribution of such Serviced Companion Loan to an Other Securitization, the earlier of (A)
Master Servicer Remittance Date or (B) the Business Day immediately succeeding the “determination date” set forth in
the related Other Pooling and Servicing Agreement, or such earlier date as required by the related Intercreditor Agreement; provided,
however, that, unless otherwise required under the related Intercreditor Agreement, no remittance is required to be made
until two (2) Business Days after receipt of the related Periodic Payment with respect to the related Serviced Whole Loan.


 


“Serviced Whole Loan REO Account”:
As defined in Section 3.15(b) of this Agreement.


 


“Serviced Whole Loan Special
Servicer”: Any Person responsible for performing the duties of Special Servicer hereunder with respect to a Serviced
Whole Loan or any related Serviced REO Property.


 


“Service(s)(ing)”:
In accordance with Regulation AB, the act of servicing and administering the Mortgage Loans or any other assets of the Trust by
an entity that meets the definition of “servicer” set forth in Item 1101 of Regulation AB and is referenced in the
disclosure requirements set forth in Item 1108 of Regulation AB. For clarification purposes, any


 



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uncapitalized occurrence of this
term shall have the meaning commonly understood by participants in the commercial mortgage-backed securities market.


 


“Servicer Termination Event”:
A Master Servicer Termination Event or Special Servicer Termination Event, as applicable.


 


“Servicing Advance”:
All customary, reasonable and necessary “out of pocket” costs and expenses (including attorneys’ fees and expenses
and fees of real estate brokers) incurred by the Master Servicer, the Special Servicer, Certificate Administrator, or the Trustee,
as applicable, in connection with the servicing and administering of (a) a Mortgage Loan (and in the case of a Serviced Mortgage
Loan, the related Serviced Companion Loan), other than a Non-Serviced Mortgage Loan, in respect of which a default, delinquency
or other unanticipated event has occurred or as to which a default is reasonably foreseeable or (b) an REO Property, including,
in the case of each of such clause (a) and clause (b), but not limited to, (x) the cost of (i) compliance
with the Master Servicer’s obligations set forth in Section 3.04, (ii) the preservation, restoration and protection
of a Mortgaged Property, (iii) obtaining any Insurance and Condemnation Proceeds or any Liquidation Proceeds of the nature
described in clauses (i) – (vi) of the definition of “Liquidation Proceeds,” (iv) any
enforcement or judicial proceedings with respect to a Mortgaged Property, including foreclosures and (v) the operation, leasing,
management, maintenance and liquidation of any REO Property and (y) any amount specifically designated herein to be paid as
a “Servicing Advance”. Notwithstanding anything to the contrary, “Servicing Advances” shall not include
allocable overhead of the Master Servicer or the Special Servicer, such as costs for office space, office equipment, supplies and
related expenses, employee salaries and related expenses and similar internal costs and expenses or costs and expenses incurred
by any such party in connection with its purchase of a Mortgage Loan or REO Property. None of the Master Servicer, the Special
Servicer or the Trustee shall make any Servicing Advance in connection with the exercise of any cure rights or purchase rights
granted to the holder of a Companion Loan under the related Intercreditor Agreement or this Agreement.


 


“Servicing Compensation”:
With respect to any Collection Period, the related Servicing Fee, Net Prepayment Interest Excess, if any, and any other fees, charges
or other amounts payable to the Master Servicer under this Agreement for such period.


 


“Servicing Criteria”:
The criteria set forth in paragraph (d) of Item 1122 of Regulation AB as such may be amended from time to time.


 


“Servicing Fee”:
With respect to each Mortgage Loan or Serviced Pari Passu Companion Loan and for any Distribution Date, an amount per Interest
Accrual Period equal to the product of (i) the respective Servicing Fee Rate (adjusted to a monthly rate) and (ii) the
Stated Principal Balance of such Mortgage Loan or Serviced Pari Passu Companion Loan as of the Due Date in the immediately preceding
Collection Period (without giving effect to payments of principal on such Mortgage Loan or Serviced Pari Passu Companion Loan on
such Due Date). The Servicing Fee shall be calculated in accordance with the provisions of Section 1.02(a) of this
Agreement. For the avoidance of doubt, with respect to any Subordinate Companion Loan, unless otherwise agreed upon with the holder
of the related Subordinate Companion Loan, no Servicing Fee shall accrue or be payable on the principal balance thereof, and with
respect to each Mortgage Loan, the Servicing Fee shall be deemed payable from the Lower-Tier REMIC.


 



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“Servicing Fee Amount”:
With respect to the Master Servicer and any date of determination, the aggregate of the products obtained by multiplying, for each
Mortgage Loan or Serviced Pari Passu Companion Loan, (a) the Stated Principal Balance of such Mortgage Loan or Serviced Pari
Passu Companion Loan as of the end of the immediately preceding Collection Period and (b) the difference between the Servicing
Fee Rate for such Mortgage Loan or Serviced Pari Passu Companion Loan over the servicing fee rate (if any) applicable to such Mortgage
Loan or Serviced Pari Passu Companion Loan as specified in any Sub-Servicing Agreement related to such Mortgage Loan or Serviced
Pari Passu Companion Loan. With respect to each Sub-Servicer and any date of determination, the aggregate of the products obtained
by multiplying, for each Mortgage Loan or Serviced Pari Passu Companion Loan serviced by such Sub-Servicer, (a) the Stated
Principal Balance of such Mortgage Loan or Serviced Pari Passu Companion Loan as of the end of the immediately preceding Collection
Period and (b) the servicing fee rate specified in the related Sub-Servicing Agreement for such Mortgage Loan or the Serviced
Pari Passu Whole Loan.


 


“Servicing Fee Rate”:
(A) With respect to each Mortgage Loan, the sum of the Master Servicing Fee Rate and the related Primary Servicing Fee Rate, if
any, which rates per annum are set forth on Exhibit B to this Agreement, (B) with respect to each Williamsburg
Premium Outlets Companion Loan, 0.0050%, (C) with respect to each 600 Broadway Companion Loan, 0.0050%, (D) with respect to the
SLS South Beach Companion Loan, 0.0050%, (E) prior to the related Servicing Shift Securitization Date, with respect to each Hagerstown
Premium Outlets Companion Loan, 0.0050%, (F) with respect to the Hall Office Park A1/G1/G3 Companion Loan, 0.0050% and (G) with
respect to the Renaissance Providence Downtown Hotel Companion Loan, 0.0150%.


 


“Servicing File”:
As defined in the related Mortgage Loan Purchase Agreement and including any original or copy of any replacement comfort letter
related to any hospitality property following receipt thereof by the Master Servicer.


 


“Servicing Function Participant”:
Any Person, other than the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Operating Advisor
or the Asset Representations Reviewer, that, within the meaning of Item 1122 of Regulation AB, is performing activities that
address the Servicing Criteria, unless such Person’s activities relate only to 5% or less of the Mortgage Loans (based on
their Stated Principal Balance) or the Master Servicer has assumed responsibility for the servicing activity, as provided for under
Regulation AB. No Non-Serviced Mortgage Loan Service Provider shall be a Servicing Function Participant retained by any Servicing
Function Participant that is a party to this Agreement, unless such party is a Servicing Function Participant in connection with
its servicing obligations under this Agreement.


 



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“Servicing Officer”:
Any officer or employee of the Master Servicer or the Special Servicer, as applicable, involved in, or responsible for, the administration
and servicing of the Mortgage Loans and/or Serviced Companion Loans, or this Agreement and also, with respect to a particular matter,
any other officer to whom such matter is referred because of such officer’s or employee’s knowledge of and familiarity
with the particular subject, and, in the case of any certification required to be signed by a Servicing Officer, such an officer
or employee whose name and specimen signature appears on a list of servicing officers furnished to the Certificate Administrator,
the Operating Advisor, the Asset Representations Reviewer and the Trustee by the Master Servicer or the Special Servicer, as applicable,
as such list may from time to time be amended.


 


“Servicing Shift Lead Note”:
With respect to any Servicing Shift Whole Loan, as of any date of determination, the note or other evidence of indebtedness and/or
agreements evidencing the indebtedness of a Borrower under such Servicing Shift Whole Loan including any amendments or modifications,
or any renewal or substitution notes, as of such date, the sale of which to the related Other Securitization will cause servicing
to shift from this Agreement to the related Other Pooling and Servicing Agreement pursuant to the terms of the related Intercreditor
Agreement for such Servicing Shift Whole Loan. As of the Closing Date, the Hagerstown Premium Outlets Pari Passu Note A-2 will
be a Servicing Shift Lead Note related to the Trust.


 


“Servicing Shift Securitization
Date”: With respect to any Servicing Shift Whole Loan, the date on which the related Servicing Shift Lead Note is included
in a related Other Securitization, provided that such holder of a Servicing Shift Lead Note provides each of the parties
to this Agreement (in each case only to the extent such party will not also be a party to the related Other Securitization) with
notice in accordance with the terms of the related Intercreditor Agreement that such Servicing Shift Lead Note is to be included
in such Other Securitization, which notice shall include contact information for each party to the related Other Pooling and Servicing
Agreement and the identity of the other related “controlling class representative” (or analogous term). The Hagerstown
Premium Outlets Pari Passu Note A-2 Securitization Date is a Servicing Shift Securitization Date related to the Trust.


 


“Servicing Shift Mortgage
Loan” With respect to any Servicing Shift Whole Loan, a Mortgage Loan included in the Trust Fund that will be serviced
under this Agreement as of the Closing Date, but the servicing of which is expected to shift to the pooling and servicing agreement
entered into in connection with the securitization of the related Controlling Companion Loan on and after the date of such securitization.
As of the Closing Date, the Hagerstown Premium Outlets Mortgage Loan will be a Servicing Shift Mortgage Loan related to the Trust.


 


“Servicing Shift Whole Loan”:
Any Whole Loan serviced under this Agreement as of the Closing Date, which includes the related Servicing Shift Mortgage Loan included
in the Trust Fund and one or more Pari Passu Companion Loans not included in the Trust Fund, but the servicing of which is expected
to shift to the pooling and servicing agreement entered into in connection with the securitization of the related Controlling Companion
Loan on and after the date of such securitization. As of the Closing Date, the Hagerstown Premium Outlets Whole Loan will be a
Servicing Shift Whole Loan related to the Trust.


 



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“Servicing Standard”:
With respect to the Master Servicer and the Special Servicer, to diligently service and administer the applicable Mortgage Loans
(other than any Non-Serviced Mortgage Loans) or Serviced Whole Loans, Specially Serviced Loans (other than any Non-Serviced Mortgage
Loans) and Serviced REO Loans for which each is responsible in the best interests of and for the benefit of all of the Certificateholders
and, in the case of any Serviced Whole Loan, the related Serviced Companion Loan Noteholders (as a collective whole as if such
Certificateholders and Serviced Companion Loan Noteholders constituted a single lender (and with respect to any Serviced Whole
Loan with a related Subordinate Companion Loan, taking into account the subordinate nature of such Subordinate Companion Loan),
as determined by the Master Servicer or the Special Servicer, as the case may be, in the exercise of its reasonable judgment) in
accordance with applicable law, the terms of this Agreement, the applicable Loan Documents and any related Intercreditor Agreement,
and to the extent consistent with the foregoing, in accordance with the higher of the following standards of care:


 


(a)          the same manner
in which, and with the same care, skill, prudence and diligence with which the Master Servicer or the Special Servicer, as the
case may be, services and administers similar mortgage loans for other third-party portfolios, and


 


(b)          the same care, skill,
prudence and diligence with which the Master Servicer or the Special Servicer, as the case may be, services and administers similar
mortgage loans owned, if any, by the Master Servicer or the Special Servicer, as the case may be.


 


In either case, with a view to the
timely recovery of all payments of principal and interest under the applicable Mortgage Loans or Serviced Whole Loans or, in the
case of Defaulted Loans, the maximization of timely recovery of principal and interest on a net present value basis (determined
in accordance with the Loan Documents or, if the Loan Documents are silent, at the Calculation Rate) on the applicable Mortgage
Loans or Serviced Whole Loans, and the best interests of the Trust and the Certificateholders and, in the case of any Serviced
Whole Loan, the related Serviced Companion Loan Noteholders, (as a collective whole as if such Certificateholders and Serviced
Companion Loan Noteholders, as applicable, constituted a single lender (and with respect to any Serviced Whole Loan with a related
Subordinate Companion Loan, taking into account the pari passu or subordinate nature of such Subordinate Companion Loan), as determined
by the Master Servicer or the Special Servicer, as the case may be, in its reasonable judgment in either case, giving due consideration
to the customary and usual standards of practice of prudent institutional commercial, multifamily and manufactured housing community
mortgage loan servicers, but without regard to any potential conflict of interest arising from (a) any relationship that the
Master Servicer or the Special Servicer, as the case may be, or any Affiliate of the Master Servicer or the Special Servicer, may
have with the related Borrower, any Mortgage Loan Seller, any other party to this Agreement or any Affiliate of the foregoing;
(b) the ownership of any Certificate or any interest in any Non-Serviced Companion Loan, Serviced Companion Loan or any mezzanine
loan related to a Mortgage Loan by the Master Servicer or the Special Servicer, as the case may be, or any Affiliate thereof; (c) the
Master Servicer’s obligation to make Advances; (d) the Master Servicer’s or the Special Servicer’s, as the
case may be, right to receive compensation for its services hereunder or with respect to any particular transaction; (e) the
ownership, servicing or management for others of any other mortgage loans or mortgaged properties by the Master Servicer or the
Special Servicer


 



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or any Affiliate of the Master Servicer or the Special Servicer, as applicable; (f) any debt that the Master
Servicer or the Special Servicer or any Affiliate of the Master Servicer or the Special Servicer, as applicable, has extended to
any Borrower or an Affiliate of any Borrower (including, without limitation, any mezzanine financing); (g) any option to purchase
any Mortgage Loan or the related Companion Loan the Master Servicer or Special Servicer, as the case may be, or any of its affiliates
may have; (h)  any obligation of the Master Servicer, the Special Servicer or one of their respective Affiliates, to repurchase
or substitute for a Mortgage Loan as Mortgage Loan Seller (if the Master Servicer or the Special Servicer or one of their respective
affiliates is a Mortgage Loan Seller).


 


“Servicing Transfer Event”:
An event specified in the definition of Specially Serviced Loan.


 


“Significant Obligor”:
(a) Any obligor (as defined in Item 1101(i) of Regulation AB) or group of affiliated obligors on any Mortgage Loan or group of
Mortgage Loans that represent, as of the Closing Date, 10% or more of the Mortgage Pool (by principal balance as of the Cut-off
Date); or (b) any single Mortgaged Property or group of Mortgaged Properties securing any Mortgage Loan or group of cross-collateralized
and/or cross-defaulted Mortgage Loans that represent, as of the Closing Date, 10% or more of the Mortgage Pool (by principal balance
as of the Cut-off Date).


 


“Significant Obligor NOI Quarterly
Filing Deadline”:  With respect to each calendar quarter (other than the fourth calendar quarter of any calendar
year), the date that is fifteen (15) days after the Relevant Distribution Date occurring on or immediately following the date on
which financial statements for such calendar quarter are required to be delivered to the related lender under the related Loan
Documents. The parties to this Agreement acknowledge that in the event the Mortgaged Property securing any related Serviced Companion
Loan is a “significant obligor” (within the meaning of Item 1101(k) of Regulation AB) with respect to an Other Securitization
that includes such Serviced Companion Loan, the date on which quarterly financial statements are required to be delivered to the
related lender under the related Mortgage Loan documents is, with respect to net operating income information, for (A) each Williamsburg
Premium Outlets Companion Loan, 45 days following the end of each fiscal quarter, (B) each 600 Broadway Companion Loan, 30 days
following the end of each fiscal quarter, (C) the SLS South Beach Companion Loan, 30 days following the end of each fiscal quarter,
(D) prior to the related Servicing Shift Securitization Date, each Hagerstown Premium Outlets Companion Loan, 45 days following
the end of each fiscal quarter, (E) the Hall Office Park A1/G1/G3 Companion Loan, 30 days following the end of each fiscal quarter
and (F) the Renaissance Providence Downtown Hotel Companion Loan, 45 days following the end of each fiscal quarter, in each case,
in each case subject to the terms of the related loan agreement.


 


“Significant Obligor NOI Yearly
Filing Deadline”:  With respect to each calendar year, the date that is the 90th day after the end of such calendar
year.


 


“Similar Law”: As
defined in Section 5.02(k) of this Agreement.


 


“SLS South Beach Companion
Loan”: As defined in the Preliminary Statement.


 


“SLS South Beach Mortgage
Loan”: As defined in the Preliminary Statement.


 



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“SLS South Beach Pari Passu
Note A-1”: The promissory note designated as Note A-1, which evidences a portion of the SLS South Beach Whole Loan.
The SLS South Beach Pari Passu Note A-1 is included in the Trust Fund and is pari passu in right of payment to the SLS South
Beach Pari Passu Note A-2, as set forth in the related Intercreditor Agreement. The SLS South Beach Pari Passu Note A-1 is a Mortgage
Loan.


 


“SLS South Beach Pari Passu
Note A-2”: The promissory note designated as Note A-2, which evidences a portion of the SLS South Beach Whole Loan.
The SLS South Beach Pari Passu Note A-2 is not included in the Trust Fund and is pari passu in right of payment to the SLS
South Beach Pari Passu Note A-1, as set forth in the related Intercreditor Agreement. As of the Closing Date, the SLS South Beach
Pari Passu Note A-2 is held by JPMCB.


 


“SLS South Beach Whole Loan”:
The SLS South Beach Companion Loan, together with the SLS South Beach Mortgage Loan. References herein to the SLS South Beach Whole
Loan shall be construed to refer to the aggregate indebtedness under the SLS South Beach Pari Passu Note A-1 and the SLS South
Beach Pari Passu Note A-2.


 


“Small Loan Appraisal Estimate”:
With respect to any Mortgage Loan (other than any Non-Serviced Mortgage Loan) or Serviced Whole Loan having a Stated Principal
Balance of less than $2,000,000, the Special Servicer’s good faith estimate of the value of the Mortgaged Property securing
such Mortgage Loan or Serviced Whole Loan, as certified to the Master Servicer by the Special Servicer.


 


“Sole Certificateholder”:
Any Holder (or Holders, provided they act in unanimity) holding 100% of the then outstanding Certificates (including Certificates
with Certificate Balances that have been actually or notionally reduced by any Realized Losses or Appraisal Reduction Amounts,
but excluding the Class R Certificates) or an assignment of the Voting Rights thereof; provided, that the Notional Amounts
of the Class X-A, Class X-B and Class X-C Certificates and the Certificate Balances of the Class A-1, Class A-2, Class A-SB, Class
A-3A, Class A-3B, Class A-4, Class A-M, Class B, Class C and Class D Certificates have been reduced to zero; provided, further,
that if the Holders of the Class X-D, Class X-E and Class X-F Certificates have assigned all of the Voting Rights of the Class
X-D, Class X-E and Class X-F Certificates to the Holder of 100% of the then outstanding Class E, Class F, Class G and Class H Certificates,
then “Sole Certificateholder” shall mean the Holder of 100% of the Class E, Class F, Class G and Class H Certificates.


 


“Special Notice”:
Any (a) notice transmitted to Certificateholders pursuant to Section 5.05(c) of this Agreement, (b) notice
of any request by at least 25% of the Voting Rights of the Certificates to terminate and replace the Special Servicer pursuant
to Section 3.22(d) of this Agreement, (c) notice of any request by at least 15% of the Voting Rights of the Certificates
to terminate and replace the Operating Advisor pursuant to Section 7.07(b) of this Agreement and (d) notice transmitted
to Certificateholders pursuant to Section 3.22(c) of this Agreement.


 


“Special Servicer”:
With respect to (i) each of the Mortgage Loans (other than any Non-Serviced Mortgage Loan and any Excluded Special Servicer Mortgage
Loan) and any Serviced Companion Loans, Midland Loan Services, a Division of PNC Bank, National Association, or its successor in
interest, or any successor special servicer appointed as provided


 



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herein and (ii) with respect to any Excluded Special Servicer
Mortgage Loan, if any, the related Excluded Special Servicer appointed pursuant to Section 3.22(j) of this Agreement, as
applicable and as the context may require.


 


“Special Servicer Servicing
Personnel”: The divisions and individuals of any Special Servicer who are involved in the performance of the duties of
such Special Servicer under this Agreement.


 


“Special Servicer Termination
Event”: As defined in Section 7.01(b) of this Agreement.


 


“Special Servicing Compensation”:
With respect to any Mortgage Loan (other than any Non-Serviced Mortgage Loan) or Serviced Whole Loan, any of the Special Servicing
Fee, Workout Fee, Liquidation Fee and any other fees, charges or other amounts which shall be due to the Special Servicer that
are expressly provided for in Section 3.12 of this Agreement.


 


“Special Servicing Fee”:
With respect to each Specially Serviced Loan (or Serviced REO Loan) for each calendar month (or portion thereof), the fraction
of the Special Servicing Fee Rate applicable to such month, or portion thereof (determined using the same interest accrual methodology
that is applied with respect to the Mortgage Rate for such Mortgage Loan for such month) multiplied by the Stated Principal Balance
of such Specially Serviced Loan as of the Due Date (without giving effect to all payments of principal on such Specially Serviced
Loan or Serviced REO Loan on such Due Date) in the Collection Period prior to such Distribution Date (or, in the event that a Principal
Prepayment in full or an event described in clauses (i)-(vii) under the definition of Liquidation Proceeds has occurred
with respect to any such Specially Serviced Loan or Serviced REO Loan on a date that is not a Due Date, on the basis of the actual
number of days to elapse from and including the most recently preceding related Due Date to but excluding the date of such Principal
Prepayment or Liquidation Proceeds event in a month consisting of 30 days). For the avoidance of doubt, the Special Servicing
Fee shall be deemed to be paid from the Lower-Tier REMIC with respect to the Mortgage Loans.


 


“Special Servicing Fee Rate”:
A rate equal to 0.25% per annum.


 


“Specially Serviced Loan”:
Subject to Section 3.23 of this Agreement, any Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced
Companion Loan with respect to which:


 


(a)          either (i) with
respect to such Mortgage Loan or Serviced Companion Loan, other than a Balloon Loan, a payment default shall have occurred on such
Mortgage Loan or Serviced Companion Loan at its Maturity Date or, if the Maturity Date of such Mortgage Loan or Serviced Companion
Loan has been extended in accordance herewith, a payment default occurs on such Mortgage Loan or Serviced Companion Loan at its
extended Maturity Date or (ii) with respect to a Balloon Loan, a payment default shall have occurred with respect to the related
Balloon Payment; provided, that if (A) the related Borrower is diligently seeking a refinancing commitment (and delivers
a statement to that effect to the Master Servicer, who shall promptly deliver a copy to the Special Servicer, the Operating Advisor
and the Directing Holder (but only if no Consultation Termination Event has occurred and is continuing) within 30 days after
such


 



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default), (B) the related Borrower continues to make its Assumed Scheduled Payment, (C) no other Servicing Transfer
Event shall have occurred with respect to such Mortgage Loan or Serviced Companion Loan and (D) for so long as no Control
Termination Event has occurred and is continuing, the Directing Holder consents, a Servicing Transfer Event will not occur until
60 days beyond the related Maturity Date, unless extended by the Special Servicer in accordance with the Loan Documents, this
Agreement and any related Intercreditor Agreement; and provided, further, if the related Borrower delivers to the
Master Servicer, who shall have promptly delivered a copy to the Special Servicer, the Operating Advisor and the Directing Holder
(but only if no Consultation Termination Event has occurred and is continuing), on or before the 60th day after the related Maturity
Date, a refinancing commitment reasonably acceptable to the Special Servicer, and such Borrower continues to make its Assumed Scheduled
Payments (and no other Servicing Transfer Event shall have occurred with respect to that Mortgage Loan or Serviced Companion Loan),
a Servicing Transfer Event will not occur until the earlier of (1) 120 days beyond the related Maturity Date or extended Maturity
Date and (2) the termination of the refinancing commitment;


 


(b)          any Periodic Payment
(other than a Balloon Payment), or any amount due on a monthly basis as an Escrow Payment or reserve funds, is 60 days or
more delinquent;


 


(c)          the Master Servicer
or Special Servicer (and, in the case of a determination by the Special Servicer, for so long as no Control Termination Event has
occurred and is continuing, with the consent of the Directing Holder and, with respect to any Serviced Whole Loan, in consultation
with the related Serviced Companion Loan Noteholders to the extent provided for in the related Intercreditor Agreement) determines
in its reasonable business judgment, exercised in accordance with the Servicing Standard, that (x) a default consisting of
a failure to make a payment of principal or interest is reasonably foreseeable or there is a significant risk of such default or
(y) any other default that is likely to impair the use or marketability of the related Mortgaged Property or the value of
the Mortgaged Property as security for the Mortgage Loan or Serviced Companion Loan is reasonably foreseeable or there is a significant
risk of such default, which monetary or other default, in either case, would likely continue unremedied beyond the applicable grace
period (or, if no grace period is specified, for a period of 60 days) and is not likely to be cured by the related Borrower
within 60 days or, except as provided in clause (a)(ii) above, in the case of a Balloon Payment, for at least 30 days;


 


(d)          the related Borrower
has become a subject of a decree or order of a court or agency or supervisory authority having jurisdiction in the premises in
an involuntary case under any present or future federal or state bankruptcy, insolvency or similar law, or the appointment of a
conservator, receiver or liquidator in any insolvency, readjustment of debt, marshaling of assets and liabilities or similar proceedings,
or for the winding-up or liquidation of its affairs;


 


(e)          the related Borrower
consents to the appointment of a conservator or receiver or liquidator in any insolvency, readjustment of debt, marshaling of assets
and liabilities or similar proceedings of or relating to such Borrower of or relating to all or substantially all of its property;


 



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(f)          the related Borrower
admits in writing its inability to pay its debts generally as they become due, files a petition to take advantage of any applicable
insolvency or reorganization statute, makes an assignment for the benefit of its creditors, or voluntarily suspends payment of
its obligations;


 


(g)          a default, of which
the Master Servicer or Special Servicer has notice (other than a failure by such related Borrower to pay principal or interest)
and which in the opinion of the Master Servicer or Special Servicer (in the case of the Special Servicer, for so long as no Control
Termination Event has occurred and is continuing, with the consent of the Directing Holder and, with respect to any Serviced Whole
Loan, in consultation with the related Serviced Companion Loan Noteholders to the extent provided for in the related Intercreditor
Agreement) materially and adversely affects the interests of the Certificateholders or any holder of a Serviced Companion Loan,
if applicable, occurs and remains unremedied for the applicable grace period specified in the Loan Documents for such Mortgage
Loan or Serviced Companion Loan (or if no grace period is specified for those defaults which are capable of cure, 60 days);
or


 


(h)          the Master Servicer
or Special Servicer receives notice of the foreclosure or proposed foreclosure of any lien on the related Mortgaged Property;


 


provided, that such Mortgage Loan or
Serviced Companion Loan will cease to be a Specially Serviced Loan (each, a “Corrected Mortgage Loan”) (i) with
respect to the circumstances described in clauses (a) and (b) above, when the related Borrower thereunder has brought such
Mortgage Loan or Serviced Companion Loan current and thereafter made three consecutive full and timely Periodic Payments, including
pursuant to any workout of such Mortgage Loan or Serviced Companion Loan, (ii) with respect to the circumstances described
in clauses (c), (d), (e), (f) and (h) above, when such circumstances cease to exist in the good faith judgment of the Special
Servicer, or (iii) with respect to the circumstances described in clause (g) above, when such default is cured (as determined
by the Special Servicer in accordance with the Servicing Standard) or waived by the Special Servicer; provided, in each
case, that at that time no circumstance exists (as described above) that would cause such Mortgage Loan or Serviced Companion Loan
to continue to be characterized as a Specially Serviced Loan.


 


If a Servicing Transfer
Event exists with respect to any Mortgage Loan included in a Serviced Whole Loan, then it will also be deemed to exist with respect
to the related Serviced Companion Loans, and vice versa.


 


“Startup Day”: In
the case of the Upper-Tier REMIC and the Lower-Tier REMIC, the day designated as such pursuant to Section 2.06(a) of
this Agreement.


 


“Stated Principal Balance”:
With respect to any Mortgage Loan, the Serviced Companion Loan or Serviced Whole Loan, as applicable, on any date of determination,
the principal balance as of the Cut-off Date of such Mortgage Loan, Serviced Companion Loan or Serviced Whole Loan (or in the case
of a Replacement Mortgage Loan, the outstanding principal balance as of the related date of substitution and after application
of all scheduled payments of principal and interest due on or before the related Due Date in the month of substitution, whether
or not received), as reduced (to not less than zero) on each Distribution Date by (i) all payments


 



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(or P&I Advances in
lieu thereof) of, and all other collections allocated as provided in Section 1.02 of this Agreement to, principal of
or with respect to such Mortgage Loan, the Serviced Companion Loan or Serviced Whole Loan, as applicable, that are distributed
to the Certificateholders on such Distribution Date or Serviced Companion Loan Noteholders on the related remittance date in the
same calendar month as such Distribution Date or applied to any other payments required under this Agreement or related Intercreditor
Agreement on or prior to such Distribution Date, and (ii) any principal forgiven by the Special Servicer (or with respect
to a Non-Serviced Mortgage Loan, by the related Other Special Servicer or other applicable servicer) and other principal losses
realized in respect of such Mortgage Loan, Serviced Companion Loan or Serviced Whole Loan during the related Collection Period
(or with respect to a Non-Serviced Mortgage Loan, other principal losses realized in respect of such Non-Serviced Mortgage Loan
during the related Collection Period as determined in accordance with the terms of the Other Pooling and Servicing Agreement).


 


A Mortgage Loan or any related REO
Loan shall be deemed to be part of the Trust Fund and to have an outstanding Stated Principal Balance until the Distribution Date
on which Liquidation Proceeds, if any, are to be (or, if no such Liquidation Proceeds are received, would have been) distributed
to Certificateholders. The Stated Principal Balance of any Mortgage Loan or Serviced Whole Loan with respect to which the Master
Servicer or Special Servicer has made a Final Recovery Determination is zero.


 


“Sub-Servicer”:
Any Person engaged by the Master Servicer or the Special Servicer (including, for the avoidance of doubt, each Mortgage Loan Seller
Sub-Servicer and any primary servicer) to perform servicing activities with respect to one or more Mortgage Loans or REO Loans.


 


“Sub-Servicing Agreement”:
The written contract between the Master Servicer or the Special Servicer, on the one hand, and any Sub-Servicer, on the other hand,
relating to servicing and administration of the Mortgage Loans as provided in Section 3.01(c) of this Agreement.


 


“Subcontractor”:
Any vendor, subcontractor or other Person that is not responsible for the overall servicing (as “servicing”
is commonly understood by participants in the mortgage-backed securities market) of Mortgage Loans but performs one or more discrete
functions identified in Item 1122(d) of Regulation AB with respect to Mortgage Loans under the direction or authority
of the Master Servicer or a Servicing Function Participant.


 


“Subject Loans”:
As defined in Section 11.02(a).


 


“Subordinate Companion Loan”:
With respect to any Whole Loan, any related subordinated loan not included in the Trust, which is subordinated in right of payment
to the related Mortgage Loan to the extent set forth in the related Intercreditor Agreement. The 787 Seventh Avenue Subordinate
Companion Loan and the 225 Liberty Street Subordinate Companion Loans are the only Subordinate Companion Loans related to the Trust.


 


“Substitution Shortfall Amount”:
In connection with the substitution of one or more Replacement Mortgage Loans for one or more Removed Mortgage Loans, the amount,
if any, by which the Purchase Price or aggregate Purchase Price, as the case may be, for such


 



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Removed Mortgage Loan(s) exceeds
the initial Stated Principal Balance or aggregate initial Stated Principal Balance, as the case may be, of such Replacement Mortgage
Loan(s).


 


“Tax Returns”: The
federal income tax returns on IRS Form 1066, U.S. Real Estate Mortgage Investment Conduit (REMIC) Income Tax Return,
including Schedule Q thereto, Quarterly Notice to Residual Interest Holders of REMIC Taxable Income or Net Loss Allocation,
or any successor forms, to be filed by the Certificate Administrator on behalf of each of the Upper-Tier REMIC and the Lower-Tier
REMIC due to its classification as a REMIC under the REMIC Provisions, together with any and all other information, reports or
returns that may be required to be furnished to the Certificateholders or filed with the IRS or any other governmental taxing authority
under any applicable provisions of federal law or Applicable State and Local Tax Law.


 


“Terminated Party”:
As defined in Section 7.01(e) of this Agreement.


 


“Terminating Party”:
As defined in Section 7.01(e) of this Agreement.


 


“Termination Date”:
The Distribution Date on which the Trust Fund is terminated pursuant to Section 9.01 of this Agreement.


 


“Test”: As defined
in Section 11.01(b)(iii).


 


“Third Party Appraiser”:
A Person performing an Appraisal.


 


“Third Party Reports”:
With respect to any Mortgaged Property, the related Appraisal, Phase I environmental report, Phase II environmental report, seismic
report, engineering report, structural report, property condition report or similar report, if any.


 


“Transfer”: Any
direct or indirect transfer or other form of assignment of any Ownership Interest in a Class R Certificate.


 


“Transferee Affidavit”:
As defined in Section 5.02(l)(ii) of this Agreement.


 


“Transferor Letter”:
As defined in Section 5.02(l)(ii) of this Agreement.


 


“Trust” or “Trust
Fund”: The corpus of the trust created hereby and to be administered hereunder, consisting of (in each case, to the extent
of the Trust Fund’s interest therein and specifically excluding any interest of any Serviced Companion Loan Noteholder therein):
(i) such Mortgage Loans as from time to time are subject to this Agreement, together with the Mortgage Files relating thereto;
(ii) all scheduled or unscheduled payments on or collections in respect of the Mortgage Loans due after the Cut-off Date;
(iii) the Trust Fund’s interest in any REO Property; (iv) all revenues received in respect of any REO Property;
(v) any Assignments of Leases, Rents and Profits and any security agreements related to the Mortgage Loans; (vi) any
indemnities or guaranties given as additional security for any Mortgage Loans; (vii) a security interest in all assets deposited
in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts and Reserve Accounts; (viii) the Loss of Value Reserve
Fund; (ix) the Collection Account, the Serviced Whole Loan Collection Accounts, the Distribution Accounts, any Gain-on-Sale
Reserve Account, the Interest Reserve Account and the Trust’s


 



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interest in any REO Account, including any amounts on deposit
therein, assets credited thereto and any reinvestment income, as applicable; (x) a security interest in any environmental
indemnity agreements relating to the Mortgaged Properties; (xi) a security interest in all insurance policies with respect
to the Mortgage Loans and the Mortgaged Properties; (xii) the rights and remedies under the Mortgage Loan Purchase Agreements
relating to document delivery requirements with respect to the Mortgage Loans and the representations and warranties of the related
Mortgage Loan Seller regarding its Mortgage Loans; (xiii) the Lower-Tier Regular Interests and (xiv) the proceeds of the foregoing
(other than any interest earned on deposits in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts and any Reserve
Accounts, to the extent such interest belongs to the related Borrower).


 


“Trust Ledger”:
Amounts deposited in the Collection Account or a Serviced Whole Loan Collection Account and attributable to the Mortgage Loans
or related Serviced Whole Loan, respectively, which are maintained pursuant to Section 3.06(a) and Section 3.06(b) of
this Agreement, as applicable, and held on behalf of the Trustee on behalf of the Certificateholders or held on behalf of the Trustee
on behalf of the Certificateholders and related Companion Loan Noteholders, as applicable.


 


“Trust REMICs”:
The Lower-Tier REMIC and the Upper-Tier REMIC.


 


“Trustee”: Wilmington
Trust, National Association, in its capacity as Trustee, or its successor in interest, or any successor Trustee appointed as herein
provided.


 


“Trustee Personnel”:
The divisions and individuals of the Trustee who are involved in the performance of the duties of the Trustee under this Agreement.


 


“Underwriters”:
Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, Academy Securities, Inc. and Sandler O’Neill & Partners, L.P.
and their respective successors in interest.


 


“Unliquidated Advance”:
Any Advance previously made by a party hereto that has been previously reimbursed, as between the Person that made the Advance
hereunder, on the one hand, and the Trust Fund, on the other, as part of a Workout-Delayed Reimbursement Amount pursuant to Section 3.06(a)
of this Agreement, as applicable, but that has not been recovered from the related Borrower or otherwise from collections on or
the proceeds of the Mortgage Loan or the applicable Serviced Whole Loan or Serviced REO Property in respect of which the Advance
was made.


 


“Unscheduled Payments”:
With respect to a Mortgage Loan and a Collection Period, all Net Liquidation Proceeds, Net Condemnation Proceeds and Net Insurance
Proceeds payable under such Mortgage Loan, the Purchase Price of any Mortgage Loan that is repurchased or purchased pursuant to
Section 2.03(e), Section 3.16 or Section 9.01 of this Agreement, the Substitution Shortfall
Amount with respect to any substitution pursuant to Section 2.03(g) of this Agreement and any other payments under
or with respect to such Mortgage Loan not scheduled to be made, including Principal Prepayments received by the Master Servicer
(but excluding Prepayment Premiums or Yield Maintenance Charges, if any) during such Collection Period.


 



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“Updated Appraisal”:
An Appraisal of a Mortgaged Property or Serviced REO Property, as the case may be, conducted subsequent to any appraisal performed
on or prior to the Cut-off Date and in accordance with Appraisal Institute standards, the costs of which shall be paid as a Servicing
Advance by the Master Servicer. Updated Appraisals shall be conducted by an Independent MAI appraiser selected by the Special Servicer.


 


“Updated Valuation”:
With respect to a Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced Whole Loan having a Stated Principal Balance
of $2,000,000 or higher, an Updated Appraisal. With respect to a Mortgage Loan having a Stated Principal Balance of less than $2,000,000,
an updated Small Loan Appraisal Estimate or an Updated Appraisal.


 


“Unscheduled Principal Distribution
Amount”: With respect to any Distribution Date and the Mortgage Loans, the aggregate of the following: (a) all Principal
Prepayments received on such Mortgage Loan on or prior to the Determination Date and (b) the principal portion of any other
collections (exclusive of payments by Borrowers) received on the Mortgage Loans and any REO Properties on or prior to the related
Determination Date whether in the form of Liquidation Proceeds, Insurance Proceeds and Condemnation Proceeds, net income, rents,
and profits from REO Property or otherwise, that were identified and applied by the master servicer as recoveries of previously
unadvanced principal of the related Mortgage Loan; provided, that all such Liquidation Proceeds and Insurance Proceeds and
Condemnation Proceeds will be reduced by any unpaid Special Servicing Fees, Liquidation Fees, any amount related to the Loss of
Value Payments to the extent that such amount was transferred into the Collection Account during the related Collection Period,
accrued interest on Advances and other additional trust fund expenses incurred in connection with the related Mortgage Loan, thus
reducing the Unscheduled Principal Distribution Amount.


 


“Upper-Tier Distribution Account”:
The segregated non-interest bearing trust account or sub-account created and maintained by the Certificate Administrator pursuant
to Section 3.05(f) of this Agreement, which shall be entitled “Wells Fargo Bank, National Association, as Certificate
Administrator, for the benefit of Wilmington Trust, National Association, as Trustee, for the benefit of the Holders of DBJPM 2016-C1
Mortgage Trust Commercial Mortgage Pass-Through Certificates, Series 2016-C1, Upper-Tier Distribution Account” and which
must be an Eligible Account or a sub-account of an Eligible Account. The Upper-Tier Distribution Account shall be an asset of the
Upper-Tier REMIC.


 


“Upper-Tier REMIC”:
A segregated asset pool within the Trust Fund consisting of the Lower-Tier Regular Interests, the Upper-Tier Distribution Account
and amounts held therein from time to time.


 


“U.S. Person”: A
citizen or resident of the United States, a corporation, partnership (except to the extent provided in applicable Treasury Regulations),
or other entity created or organized in or under the laws of the United States, any state thereof or the District of Columbia,
including any entity treated as a corporation or partnership for federal income tax purposes, an estate whose income is subject
to United States federal income tax regardless of its source, or a trust if a court within the United States is able to exercise
primary supervision over the administration of such trust, and one or more such U.S. Persons have the authority to control all
substantial decisions of such trust (or, to the extent provided in applicable Treasury


 



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Regulations, certain trusts in existence
on August 20, 1996 that have elected to be treated as U.S. Persons).


 


“Voting Rights”:
The portion of the voting rights of all of the Certificates that is allocated to any Certificateholder or Class of Certificateholders.
At all times during the term of this Agreement, the percentage of Voting Rights assigned to each Class shall be: (a) 98% to
be allocated among the Certificateholders of the respective Classes of Sequential Pay Certificates in proportion to the Certificate
Balances (and solely in connection with any vote for purposes of determining whether to remove the Special Servicer pursuant to
Section 7.01(a) and the Operating Advisor pursuant to Section 7.07(a), taking into account any notional reduction
in the Certificate Balance for Appraisal Reduction Amounts allocated to the Certificates pursuant to Section 4.08(a) hereof)
of their Certificates, (b) 2% to be allocated among the Certificateholders of the Class X-A, Class X-B, Class X-C, Class X-D,
Class X-E and Class X-F Certificates (allocated to the Class X-A, Class X-B, Class X-C, Class X-D, Class X-E and Class X-F Certificates
on a pro rata basis based on their respective outstanding Notional Amounts at the time of determination) and (c) 0%,
in the case of the Class R Certificates.


 


“WAC Rate”: With
respect to any Distribution Date, a per annum rate equal to the fraction (expressed as a percentage) the numerator of which
is the sum for all Mortgage Loans of the product of (i) the Net Mortgage Rate for each such Mortgage Loan as of the first
day of the related Collection Period and (ii) the Stated Principal Balance of each such Mortgage Loan as of the first day
of the related Collection Period, and the denominator of which is the sum of the Stated Principal Balances of all Mortgage Loans
as of the first day of the related Collection Period (after giving effect to any payments received during any applicable grace
period).


 


“Whole Loan”: Each
of the 787 Seventh Avenue Whole Loan, the Williamsburg Premium Outlets Whole Loan, the Naples Grande Beach Resort Whole Loan, the
225 Liberty Street Whole Loan, the 600 Broadway Whole Loan, the SLS South Beach Whole Loan, the 7700 Parmer Whole Loan, the Columbus
Park Crossing Whole Loan, the Hagerstown Premium Outlets Whole Loan, the Hall Office Park A1/G1/G3 Whole Loan and the Renaissance
Providence Downtown Hotel Whole Loan.


 


“Williamsburg Premium Outlets
Companion Loans”: As defined in the Preliminary Statement.


 


“Williamsburg Premium Outlets
Mortgage Loan”: As defined in the Preliminary Statement.


 


“Williamsburg Premium Outlets
Pari Passu Note A-1”: The promissory note designated as Note A-1, which evidences a portion of the Williamsburg
Premium Outlets Whole Loan. The Williamsburg Premium Outlets Pari Passu Note A-1 is included in the Trust Fund and is pari passu
in right of payment to the Williamsburg Premium Outlets Pari Passu Note A-2, the Williamsburg Premium Outlets Pari Passu Note
A-3, the Williamsburg Premium Outlets Pari Passu Note A-4, the Williamsburg Premium Outlets Pari Passu Note A-5 and the Williamsburg
Premium Outlets Pari Passu Note A-6, as set forth in the related Intercreditor Agreement. The Williamsburg Premium Outlets Pari
Passu Note A-1 is a Mortgage Loan.


 



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“Williamsburg Premium Outlets
Pari Passu Note A-2”: The promissory note designated as Note A-2, which evidences a portion of the Williamsburg
Premium Outlets Whole Loan. The Williamsburg Premium Outlets Pari Passu Note A-2 is not included in the Trust Fund and is pari
passu in right of payment to the Williamsburg Premium Outlets Pari Passu Note A-1, the Williamsburg Premium Outlets Pari
Passu Note A-3, the Williamsburg Premium Outlets Pari Passu Note A-4, the Williamsburg Premium Outlets Pari Passu Note A-5 and
the Williamsburg Premium Outlets Pari Passu Note A-6, as set forth in the related Intercreditor Agreement. The Williamsburg Premium
Outlets Pari Passu Note A-2 is held by GACC.


 


“Williamsburg Premium Outlets
Pari Passu Note A-3”: The promissory note designated as Note A-3, which evidences a portion of the Williamsburg
Premium Outlets Whole Loan. The Williamsburg Premium Outlets Pari Passu Note A-3 is not included in the Trust Fund and is pari
passu in right of payment to the Williamsburg Premium Outlets Pari Passu Note A-1, the Williamsburg Premium Outlets Pari
Passu Note A-2, the Williamsburg Premium Outlets Pari Passu Note A-4, the Williamsburg Premium Outlets Pari Passu Note A-5 and
the Williamsburg Premium Outlets Pari Passu Note A-6, as set forth in the related Intercreditor Agreement. The Williamsburg Premium
Outlets Pari Passu Note A-3 is held by the COMM 2016-DC2 Mortgage Trust.


 


“Williamsburg Premium Outlets
Pari Passu Note A-4”: The promissory note designated as Note A-4, which evidences a portion of the Williamsburg
Premium Outlets Whole Loan. The Williamsburg Premium Outlets Pari Passu Note A-4 is not included in the Trust Fund and is pari
passu in right of payment to the Williamsburg Premium Outlets Pari Passu Note A-1, the Williamsburg Premium Outlets Pari
Passu Note A-2, the Williamsburg Premium Outlets Pari Passu Note A-3, the Williamsburg Premium Outlets Pari Passu Note A-5 and
the Williamsburg Premium Outlets Pari Passu Note A-6, as set forth in the related Intercreditor Agreement. The Williamsburg Premium
Outlets Pari Passu Note A-4 is held by the COMM 2016-DC2 Mortgage Trust.


 


“Williamsburg Premium Outlets
Pari Passu Note A-5”: The promissory note designated as Note A-5, which evidences a portion of the Williamsburg
Premium Outlets Whole Loan. The Williamsburg Premium Outlets Pari Passu Note A-5 is not included in the Trust Fund and is pari
passu in right of payment to the Williamsburg Premium Outlets Pari Passu Note A-1, the Williamsburg Premium Outlets Pari
Passu Note A-2, the Williamsburg Premium Outlets Pari Passu Note A-3, the Williamsburg Premium Outlets Pari Passu Note A-4 and
the Williamsburg Premium Outlets Pari Passu Note A-6, as set forth in the related Intercreditor Agreement. The Williamsburg Premium
Outlets Pari Passu Note A-5 is held by GACC.


 


“Williamsburg Premium Outlets
Pari Passu Note A-6”: The promissory note designated as Note A-6, which evidences a portion of the Williamsburg
Premium Outlets Whole Loan. The Williamsburg Premium Outlets Pari Passu Note A-6 is included in the Trust Fund and is pari passu
in right of payment to the Williamsburg Premium Outlets Pari Passu Note A-1, the Williamsburg Premium Outlets Pari Passu Note
A-2, the Williamsburg Premium Outlets Pari Passu Note A-3, the Williamsburg Premium Outlets Pari Passu Note A-4 and the Williamsburg
Premium Outlets Pari Passu Note A-5, as set forth in the related Intercreditor Agreement. The Williamsburg Premium Outlets Pari
Passu Note A-6 is a Mortgage Loan.


 



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“Williamsburg Premium Outlets
Whole Loan”: The Williamsburg Premium Outlets Companion Loans, together with the Williamsburg Premium Outlets Mortgage
Loan. References herein to the Williamsburg Premium Outlets Whole Loan shall be construed to refer to the aggregate indebtedness
under the Williamsburg Premium Outlets Pari Passu Note A-1, the Williamsburg Premium Outlets Pari Passu Note A-2, the Williamsburg
Premium Outlets Pari Passu Note A-3, the Williamsburg Premium Outlets Pari Passu Note A-4, the Williamsburg Premium Outlets Pari
Passu Note A-5 and the Williamsburg Premium Outlets Pari Passu Note A-6.


 


“Withheld Amount”:
With respect to each Mortgage Loan that accrues interest on an Actual/360 Basis, and with respect to each Distribution Date occurring
in January of each calendar year that is not a leap year and February of each calendar year, unless in either case
such Distribution Date is the final Distribution Date, an amount equal to one day’s interest at the Net Mortgage Rate on
the respective Stated Principal Balance as of the Due Date in the month preceding the month in which such Distribution Date occurs,
to the extent that a Periodic Payment or a P&I Advance is made in respect thereof.


 


The Withheld Amount for each applicable
Distribution Date for each Mortgage Loan that does not accrue interest on a 30/360 basis will be equal to 1/31 of the interest
accrued in respect of the immediately preceding Due Date, to the extent a Periodic Payment or P&I Advance is made in respect
thereof.


 


“Workout-Delayed Reimbursement
Amounts”: With respect to any Mortgage Loan or, with respect to Servicing Advances, any Serviced Whole Loan, the amount
of any Advance made with respect to such Mortgage Loan or Serviced Whole Loan on or before the date such Mortgage Loan or Serviced
Whole Loan becomes (or, but for the making of three monthly payments under its modified terms, would then constitute) a Corrected
Mortgage Loan, together with (to the extent accrued and unpaid) interest on such Advances, to the extent that (i) such
Advance is not reimbursed to the Person who made such Advance on or before the date, if any, on which such Mortgage Loan or Serviced
Whole Loan becomes a Corrected Mortgage Loan and (ii) the amount of such Advance becomes an obligation of the related Borrower
to pay such amount under the terms of the modified Loan Documents.


 


“Workout Fee”: An
amount equal to the lesser of (1) 1.0% of each collection of interest and principal (including scheduled payments, prepayments
(provided that a repurchase or substitution by a Mortgage Loan Seller of a Mortgage Loan due to a Material Defect or a Material
Breach shall not be considered a prepayment for purposes of this definition), Balloon Payments and payments at maturity, but excluding
late payment charges and Default Interest) received on a Specially Serviced Loan that becomes a Corrected Mortgage Loan for so
long as it remains a Corrected Mortgage Loan, pursuant to Section 3.12(c) of this Agreement and (2) $1,000,000,
in the aggregate with respect to any particular workout of a Specially Serviced Loan; provided that the Workout Fee with
respect to any Corrected Mortgage Loan shall be capped in accordance with Section 3.12(c) of this Agreement; provided,
further that no Workout Fee shall be payable by the Trust with respect to any Corrected Mortgage Loan if and to the extent
that the Corrected Mortgage Loan became a Specially Serviced Loan under clause (c) of the definition of “Specially
Serviced Loan” (and no other clause of such definition) and no event of default actually occurs, unless the Mortgage
Loan or Serviced Companion Loan is modified by the Special Servicer in accordance with the terms of this Agreement; provided,
further that if


 



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a Mortgage Loan or Serviced Companion Loan becomes a Specially Serviced Loan only because of an event described
in clause (a) of the definition of “Specially Serviced Loan” and the related collection of principal and
interest is received within 3 months following the related maturity date as a result of the related Mortgage Loan or Serviced
Companion Loan being refinanced or otherwise repaid in full, the Special Servicer shall not be entitled to collect a Workout Fee
out of the proceeds received in connection with such workout if such fee would reduce the amount available for distributions to
Certificateholders, but the Special Servicer may collect from the related Borrower and retain (x) a workout fee, (y) such
other fees as are provided for in the related Loan Documents and (z) other appropriate fees in connection with such workout. The
total amount of Workout Fees payable by the Trust with respect to any Corrected Mortgage Loan and with respect to any particular
workout (assuming, for the purposes of this calculation, that such Corrected Mortgage Loan continues to perform throughout its
term in accordance with the terms of the related workout) shall be reduced by the amount of any and all related Offsetting Modification
Fees received by the Special Servicer as additional servicing compensation relating to such Corrected Mortgage Loan; provided
that the Special Servicer shall be entitled to collect such Workout Fees from the Trust until such time it has been fully paid
such reduced amount. For the avoidance of doubt, the Mortgage Loan Seller will be required to pay a Workout Fee in connection with
a repurchase or substitution to the extent the Special Servicer was entitled to such a fee and such fee was unpaid immediately
prior to such repurchase or substitution or was previously paid by the Trust and was not reimbursed by the related Borrower immediately
prior to such repurchase or substitution. In furtherance of the foregoing, upon a Specially Serviced Loan becoming a Corrected
Mortgage Loan, the Special Servicer shall provide the Master Servicer with a calculation of the total amount of Workout Fees expected
to be payable by the Trust with respect to such Corrected Mortgage Loan throughout its term (which calculation shall be reasonably
acceptable to the Master Servicer) and the total amount of related Offsetting Modification Fees received by the Special Servicer.


 


“Yield Maintenance Charge”:
With respect to any Mortgage Loan or Serviced Companion Loan, the yield maintenance charge set forth in the related Loan Documents;
provided that, amounts shall be considered Yield Maintenance Charges pursuant to the allocation set forth under Section
1.02(f) or Section 1.02(g), as applicable.


 


Section 1.02     Certain
Calculations. Unless otherwise specified herein, the following provisions shall apply:


 


(a)          All calculations of interest
with respect to the Mortgage Loans and Serviced Companion Loans (other than the Actual/360 Loans) and of Advances in respect thereof
provided for herein shall be made on the basis of a 360-day year consisting of twelve 30-day months. All calculations of interest
with respect to the Actual/360 Loans and of Advances provided in respect thereof provided for herein shall be made as set forth
in the Loan Documents for such Mortgage Loans and, if applicable, Serviced Companion Loans, with respect to the calculation of
the related Mortgage Rate. The Servicing Fee, the Certificate Administrator/Trustee Fee, the CREFC® Intellectual
Property Royalty License Fee and the Operating Advisor Fee for each Mortgage Loan or Serviced Whole Loan, as applicable, shall
accrue on the same basis as interest accrues on such Mortgage Loan or Serviced Whole Loan, as applicable.


 



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(b)          Any Mortgage Loan or Serviced
Whole Loan payment is deemed to be received on the date such payment is actually received by the Master Servicer or the Certificate
Administrator; provided, that for purposes of calculating distributions on the Certificates, Principal Prepayments with
respect to any Mortgage Loan or Serviced Whole Loan are deemed to be received on the date they are applied in accordance with Section 3.01(b)
of this Agreement to reduce the Stated Principal Balance of such Mortgage Loan or Serviced Whole Loan on which interest accrues.


 


(c)          Except as otherwise provided
in the related Loan Documents or Intercreditor Agreement, any amounts received in respect of a Mortgage Loan or Serviced Whole
Loan as to which a default has occurred and is continuing in excess of Periodic Payments shall be applied to Default Interest and
other amounts due on such Mortgage Loan or Serviced Whole Loan prior to the application to late fees.


 


(d)          Allocations of payments between
a Mortgage Loan and the related Serviced Companion Loans in a Whole Loan shall be made in accordance with the related Intercreditor
Agreement.


 


(e)          If an expense under this Agreement
relates in the reasonable judgment of the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee or
the Paying Agent, as applicable, primarily to the administration of the Trust Fund or any Trust REMIC or to any determination respecting
the amount, payment or avoidance of any tax under the REMIC Provisions or the actual payment of any REMIC tax or expense or this
Agreement states that any expense is solely “an expense of the Trust Fund” or words of similar import, then such expense
shall not be allocated to, deducted or reimbursed from, or otherwise charged against any Serviced Companion Loan Noteholder and
such Serviced Companion Loan Noteholder shall not suffer any adverse consequences as a result of the payment of such expense.


 


(f)          All amounts collected by or
on behalf of the Trust in respect of any Mortgage Loan (other than an REO Loan) in the form of payments from the related Borrower,
Liquidation Proceeds, Condemnation Proceeds or Insurance Proceeds (exclusive, if applicable, in the case of a Mortgage Loan that
is part of a Serviced Whole Loan, of any amounts payable to the holder of the related Serviced Companion Loan, pursuant to the
related Intercreditor Agreement) shall be allocated to amounts due and owing under the related Loan Documents (including for principal
and accrued and unpaid interest) in accordance with the express provisions of the related Loan Documents and, with respect to any
Mortgage Loan that is part of a Serviced Whole Loan, the related Intercreditor Agreement; provided, absent such express
provisions, all such amounts collected (exclusive, if applicable, in the case of a Mortgage Loan that is part of a Serviced Whole
Loan, of any amounts payable to the holder of the related Serviced Companion Loan pursuant to the related Intercreditor Agreement)
shall be deemed to be allocated for purposes of collecting amounts due under the Mortgage Loan in the following order of priority:


 


(i)           as a recovery
of any unreimbursed Advances (including any Workout-Delayed Reimbursement Amount) with respect to such Mortgage Loan and unpaid
interest at the Reimbursement Rate on such Advances and, if applicable, unreimbursed and unpaid Additional Trust Fund Expenses
with respect to such Mortgage Loan;


 



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(ii)         as a recovery
of Nonrecoverable Advances and any interest at the Reimbursement Rate thereon to the extent previously paid or reimbursed from
principal collections on the Mortgage Loans (as described in the first proviso in the definition of Principal Distribution Amount);


 


(iii)         to the extent
not previously allocated pursuant to clause (i) above, as a recovery of accrued and unpaid interest on such Mortgage Loan
(exclusive of Default Interest) to the extent of the excess of (A) accrued and unpaid interest on such Mortgage Loan at the
related Mortgage Rate in effect from time to time through the end of the applicable Mortgage Loan Interest Accrual Period, over
(B) the cumulative amount of the reductions (if any) in the amount of related P&I Advances for such Mortgage Loan that
have theretofore occurred under Section 4.07(d) of this Agreement in connection with Appraisal Reduction Amounts (to
the extent that collections have not been allocated as a recovery of accrued and unpaid interest pursuant to clause (v) below
on earlier dates);


 


(iv)        to the extent
not previously allocated pursuant to clause (i) above, as a recovery of principal of such Mortgage Loan then due and owing,
including by reason of acceleration of such Mortgage Loan following a default thereunder (or, if such Mortgage Loan has been liquidated,
as a recovery of principal to the extent of its entire remaining unpaid principal balance);


 


(v)         as a recovery
of accrued and unpaid interest on such Mortgage Loan to the extent of the cumulative amount of the reductions (if any) in the amount
of related P&I Advances for such Mortgage Loan that have theretofore occurred under Section 4.07(d) of this Agreement
in connection with related Appraisal Reduction Amounts (to the extent that collections have not been allocated as recovery of accrued
and unpaid interest pursuant to this clause (v) on earlier dates);


 


(vi)        as a recovery
of amounts to be currently allocated to the payment of, or escrowed for the future payment of, real estate taxes, assessments and
insurance premiums and similar items relating to such Mortgage Loan;


 


(vii)       as a recovery
of any other reserves to the extent then required to be held in escrow with respect to such Mortgage Loan;


 


(viii)      as a recovery
of any Yield Maintenance Charge or Prepayment Premium then due and owing under such Mortgage Loan;


 


(ix)         as a recovery
of any late payment charges and Default Interest then due and owing under such Mortgage Loan;


 


(x)          as a recovery
of any Assumption Fees and Modification Fees then due and owing under such Mortgage Loan;


 


(xi)         as a recovery
of any other amounts then due and owing under such Mortgage Loan other than remaining unpaid principal (if both consent fees and
Operating Advisor Consulting Fees are due and owing, first, allocated to consent fees and then, allocated to Operating
Advisor Consulting Fees); and


 



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(xii)        as a recovery
of any remaining principal of such Mortgage Loan to the extent of its entire remaining unpaid principal balance;


 


provided that, to the extent
required under the REMIC Provisions, payments or proceeds received (or receivable by exercise of the Loan Seller’s rights
under the related Loan Documents) with respect to any partial release of a Mortgaged Property (including in connection with a condemnation)
at a time when the loan-to-value ratio of the related Mortgage Loan (or Serviced Whole Loan) exceeds 125% or would exceed 125%
following any partial release (based solely on the value of real property and excluding personal property and going concern value,
if any) must be collected and allocated to reduce the Stated Principal Balance of the Mortgage Loan (or Serviced Whole Loan) in
the manner permitted by the REMIC Provisions.


 


(g)          Collections by or on behalf
of the Trust in respect of any REO Property (exclusive of amounts to be allocated to the payment of the costs of operating, managing,
leasing, maintaining and disposing of such REO Property and, if applicable, in the case of an REO Property related to a Serviced
Whole Loan, exclusive of any amounts payable to the holder of the related Serviced Companion Loan pursuant to the related Intercreditor
Agreement) shall be deemed to be allocated for purposes of collecting amounts due under the Mortgage Loan in the following order
of priority:


 


(i)          as a recovery
of any unreimbursed Advances (including any Workout-Delayed Reimbursement Amount) with respect to such Mortgage Loan and unpaid
interest at the Reimbursement Rate on such Advances and, if applicable, unreimbursed and unpaid Additional Trust Fund Expenses
with respect to such Mortgage Loan;


 


(ii)         as a recovery
of Nonrecoverable Advances and any interest at the Reimbursement Rate thereon to the extent previously allocated to principal collections
on the Mortgage Loans (as described in the first proviso in the definition of Principal Distribution Amount);


 


(iii)         to the extent
not previously allocated pursuant to clause (i) above, as a recovery of accrued and unpaid interest on the related Mortgage
Loan (exclusive of Default Interest) to the extent of the excess of (A) accrued and unpaid interest on such Mortgage Loan
at the related Mortgage Rate in effect from time to time through the end of the applicable Mortgage Loan Interest Accrual Period,
over (B) the cumulative amount of the reductions (if any) in the amount of related P&I Advances for such Mortgage Loan
that have theretofore occurred under Section 4.07(d) of this Agreement in connection with Appraisal Reduction Amounts
(to the extent that collections have not been allocated as a recovery of accrued and unpaid interest pursuant to clause (v)
below on earlier dates);


 


(iv)        to the extent
not previously allocated pursuant to clause (i)-(ii) above, as a recovery of principal of the related Mortgage Loan to the
extent of its entire unpaid principal balance;


 


(v)         as a recovery
of accrued and unpaid interest on the related Mortgage Loan to the extent of the cumulative amount of the reductions (if any) in
the amount of related P&I Advances for such Mortgage Loan that have theretofore occurred under 


 



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Section 4.07(d)
of this Agreement in connection with related Appraisal Reduction Amounts (to the extent that collections have not theretofore been
allocated as a recovery of accrued and unpaid interest pursuant to this clause (v) on earlier dates);


 


(vi)        as a recovery
of any Yield Maintenance Charge or Prepayment Premium then due and owing under the related Mortgage Loan;


 


(vii)       as a recovery
of any late payment charges and Default Interest then due and owing under the related Mortgage Loan;


 


(viii)      as a recovery
of any Assumption Fees and Modification Fees then due and owing under the related Mortgage Loan; and


 


(ix)         as a recovery
of any other amounts then due and owing under the related Mortgage Loan other than remaining unpaid principal (if both consent
fees and Operating Advisor Consulting Fees are due and owing, first, allocated to consent fees and then, allocated
to Operating Advisor Consulting Fees).


 


(h)          The applications of amounts
received in respect of any Mortgage Loan pursuant to paragraph (f) of this Section 1.02 shall be determined by the
Master Servicer in accordance with the Servicing Standard. The applications of amounts received in respect of any Mortgage Loan,
or any REO Property pursuant to paragraph (g) of this Section 1.02 shall be determined by the Special Servicer in accordance
with the Servicing Standard.


 


(i)           All net present value calculations
and determinations made hereunder with respect to the Mortgage Loans or a Mortgaged Property or REO Property (including for purposes
of the definition of “Servicing Standard”) shall be made in accordance with the Loan Documents or, if the Loan
Documents are silent, using the Calculation Rate.


 


Section 1.03     Certain
Constructions. For purposes of this Agreement, references to the most or next most subordinate Class of Certificates outstanding
at any time shall mean the most or next most subordinate Class of Certificates then outstanding as among the Class A-1, Class A-2,
Class A-SB, Class A-3A, Class A-3B, Class A-4, Class A-M, Class B, Class C, Class D, Class E, Class F, Class
G and Class H Certificates. For purposes of this Agreement, each Class of Certificates (other than the Class X-A, Class X-B, Class
X-C, Class X-D, Class X-E, Class X-F and Class R Certificates) shall be deemed to be outstanding only to the extent its respective
Certificate Balance has not been reduced to zero. For purposes of this Agreement, the Class R Certificates shall be outstanding
so long as the Trust Fund has not been terminated pursuant to Section 9.01 of this Agreement or any other Class of
Certificates remains outstanding. For purposes of this Agreement, each of the Class X-A, Class X-B, Class X-C, Class X-D, Class
X-E and Class X-F Certificates shall be deemed to be outstanding until their respective Notional Amounts have been reduced to
zero.


 


Notwithstanding anything to the contrary
contained herein, for purposes of this Agreement, each reference to any action by the Master Servicer or Special Servicer that
is subject to the consent or approval of the Directing Holder shall in each case be further subject to the determination by the
Master Servicer or Special Servicer that taking or refraining from taking the action as proposed by the Directing Holder, or not
taking such action as proposed by the


 



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Master Servicer or Special Servicer if the Directing Holder fails to grant its consent or
approval to any action proposed to be taken by the Master Servicer or Special Servicer, in each case, is consistent with the Servicing
Standard. In each case, (a) if the response by the Directing Holder hereunder is inconsistent with the Servicing Standard,
the Master Servicer or the Special Servicer shall take such action as is consistent with the Servicing Standard, and (b) if
the Master Servicer or Special Servicer determines that immediate action is necessary to protect the interests of the Certificateholder
and, in the case of any Serviced Whole Loan, the related Serviced Companion Loan Noteholders, (as a collective whole as if such
Certificateholders and Serviced Companion Loan Noteholders, as applicable, constituted a single lender (and with respect to any
Serviced Whole Loan with a related Subordinate Companion Loan, taking into account the subordinate nature of such Subordinate Companion
Loan)) and has made a reasonable effort to contact the Directing Holder, it may take such action without waiting for a response
from the Directing Holder; provided that the Special Servicer or Master Servicer, as applicable, shall provide the Directing Holder
(or the Operating Advisor, if applicable) with prompt written notice following such action including a reasonably detailed explanation
of the basis for such action.


 


Section 1.04     Certain
Matters Relating to the Non-Serviced Mortgage Loans. Each Other Servicer, Other Special Servicer, Other Depositor, Other Operating
Advisor, Other Asset Representations Reviewer and Other Trustee, and any of their respective directors, officers, employees or
agents and each Other Securitization (collectively, the “Other Indemnified Parties”), shall be indemnified
by the Trust and held harmless against the Trust’s pro rata share (subject to the related Intercreditor Agreement)
of any and all claims, losses, damages, penalties, fines, forfeitures, reasonable legal fees and related costs, judgments and
any other costs, liabilities, fees and expenses incurred in connection with servicing and administration of or any actual or threatened
legal action or claim relating to the related Non-Serviced Mortgage Loan and the related non-serviced Mortgaged Property under
the related Other Pooling and Servicing Agreement, this Agreement or the related Intercreditor Agreement (but excluding any such
losses allocable to the related Companion Loans); provided that such indemnification will not extend to any losses, liabilities,
costs or expenses: (i) specifically required to be borne by such party, without right of reimbursement, pursuant to the terms
of the related Other Pooling and Servicing Agreement; (ii) incurred in connection with any legal action or claim against such
party resulting from any breach of a representation or warranty made by such person under the related Other Pooling and Servicing
Agreement or (iii) incurred in connection with any legal action or claim against such party resulting from any willful misfeasance,
bad faith or negligence in the performance of such Person’s obligations and duties under the related Other Pooling and Servicing
Agreement or the related Intercreditor Agreement or resulting from negligent disregard of such obligations and duties.


 


In connection with the securitization
of any Serviced Companion Loan while it is a Serviced Companion Loan, upon the request of (and at the expense of) the related Companion
Loan Noteholders, each of the Master Servicer, the Special Servicer, the Certificate Administrator and the Trustee, as applicable,
shall use reasonable efforts to cooperate with such Companion Loan Noteholders in attempting to cause the related Borrower to provide
information relating to the related Serviced Whole Loan and the related notes, and that such holders reasonably determine to be
necessary or appropriate, for inclusion in any disclosure document(s) relating to such Other Securitization.


 



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On and after the Hagerstown Premium
Outlets Pari Passu Note A-2 Securitization Date, the Hagerstown Premium Outlets Whole Loan shall be a “Non-Serviced Whole
Loan,” each Hagerstown Premium Outlets Pari Passu Companion Loan shall be a “Non-Serviced Companion Loan”, and
the Hagerstown Premium Outlets Mortgage Loan shall be a “Non-Serviced Mortgage Loan”.


 


On each Servicing Shift Securitization
Date (i) the Custodian shall, upon receipt of a Request for Release transfer the related Mortgage File (other than the note(s)
designating the related Servicing Shift Mortgage Loan), the original of which shall be retained by the Custodian) for the related
Servicing Shift Whole Loan to the related Other Trustee under the related Other Pooling and Servicing Agreement and retain a copy
of such Mortgage File and (ii) the Master Servicer shall, upon receipt of notice from the applicable Mortgage Loan Seller that
the applicable Servicing Shift Lead Note has been or is being securitized on the related Servicing Shift Securitization Date, transfer
(and cooperate with reasonable requests in connection with such transfer of) the Servicing File for the related Servicing Shift
Whole Loan, and any Escrow Payments, reserve funds and originals of items specified in Sections 2.01(a)(xix) and (xx)
for the related Servicing Shift Whole Loan, to the related Other Servicer on the related Servicing Shift Securitization Date


 


Upon receipt of notice from the applicable
Mortgage Loan Seller that the applicable Servicing Shift Lead Note has been or is being securitized on the related Servicing Shift
Securitization Date, the Master Servicer shall provide the Custodian with a Request for Release of the Mortgage File on the related
Servicing Shift Securitization Date and transfer (and cooperate with reasonable requests in connection with such transfer of) the
Servicing File to the related Other Servicer identified to it pursuant to the related notice from the related Mortgage Loan Seller
on the related Servicing Shift Securitization Date.


 


Article II



CONVEYANCE OF MORTGAGE LOANS;

ORIGINAL ISSUANCE OF CERTIFICATES


 


Section 2.01     Conveyance
of Mortgage Loans; Assignment of Mortgage Loan Purchase Agreements. (a)  The Depositor, concurrently with the execution
and delivery hereof on the Closing Date, does hereby establish a trust designated as “DBJPM 2016-C1 Mortgage Trust,”
appoint the Trustee as trustee of the Trust Fund and sell, transfer, assign, set over and otherwise convey to the Trustee without
recourse (except to the extent herein provided) all the right, title and interest of the Depositor in and to the Mortgage Loans,
including all rights to payment in respect thereof, except as set forth below, and any security interest thereunder (whether in
real or personal property and whether tangible or intangible) in favor of the Depositor, and a security interest in all Reserve
Accounts, Lock-Box Accounts, Cash Collateral Accounts and all other assets to the extent included or to be included in the Trust
Fund for the benefit of the Certificateholders. Such transfer and assignment includes all interest and principal due on or with
respect to the Mortgage Loans after the Cut-off Date and, in the case of a Mortgage Loan included in a Whole Loan, is subject
to the related Intercreditor Agreement. Transfer and assignment of a Non-Serviced Mortgage Loan and the right to service a Non-Serviced
Mortgage Loan is further subject to the terms and conditions of the Other Pooling and


 



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Servicing Agreement and the related Intercreditor
Agreement. The Depositor, concurrently with the execution and delivery hereof, does also hereby transfer, assign, set over and
otherwise convey to the Trustee without recourse (except to the extent provided herein), for the benefit of the Certificateholders
and the Serviced Companion Loan Noteholders, all the right, title and interest of the Depositor in, to and under the Mortgage
Loan Purchase Agreements as provided therein (excluding Sections 6(e)-(g) of each Mortgage Loan Purchase Agreement, the representations,
warranties and covenants in favor of the Depositor set forth in clause (viii) of Section 4(b) of each Mortgage
Loan Purchase Agreement and the Depositor’s rights and remedies with respect to a breach thereof, and excluding the Depositor’s
rights and remedies under the Indemnification Agreements) to the extent related to any Mortgage Loan. The Depositor shall cause
the Reserve Accounts, Cash Collateral Accounts and Lock-Box Accounts relating to the Mortgage Loans to be transferred to and held
in the name of the Master Servicer on behalf of the Trustee as successor to the Mortgage Loan Sellers.


 


With respect to any Mortgage Loan that
is subject to an Intercreditor Agreement, the parties hereto intend that the provisions of this Section 2.01(a) serve
as an assignment and assumption agreement between the Depositor, as the assignor, and the Trustee on behalf of the Trust, as the
assignee. Accordingly, the Depositor hereby (and in accordance with and subject to all other applicable provisions of this Agreement)
assigns, grants, sells, transfers, delivers, sets over, and conveys to the Trustee all right, title and interest of the Depositor
in, to and arising out of the related Intercreditor Agreement and the Trustee on behalf of the Trust hereby accepts (subject to
applicable provisions of this Agreement) the foregoing assignment and assumes all of the rights and obligations of the Depositor
with respect to related Intercreditor Agreement from and after the Closing Date. In addition, the Trustee acknowledges that any
such Mortgage Loan that is a Serviced Mortgage Loan shall be serviced pursuant to the terms of this Agreement.


 


In connection with such transfer and
assignment, the Depositor does hereby deliver to, and deposit with, the Custodian, with copies to the Master Servicer and the Special
Servicer, the following documents or instruments with respect to each Mortgage Loan and each Serviced Companion Loan (which, except
for the Mortgage Note referred to in clause (i) below, relate to the Serviced Whole Loan) so assigned (provided, the
original of documents specified in items (xix) and (xx) shall be delivered to the Master Servicer):


 


(i)          (A) the
original Mortgage Note, bearing, or accompanied by, all prior or intervening endorsements, endorsed by the most recent endorsee
prior to the Trustee or, if none, by the Originator, without recourse, either in blank and further showing a complete, unbroken
chain of endorsement from the Originator or to the order of the Trustee in the following form: “Pay to the order of Wilmington
Trust, National Association, as Trustee, for the benefit of the Holders of DBJPM 2016-C1 Mortgage Trust Commercial Mortgage Pass-Through
Certificates, Series 2016-C1, without recourse”; and (B) in the case of each related Serviced Companion Loan, a copy
of the executed Mortgage Note for such Serviced Companion Loan;


 


(ii)         the original
(or a copy thereof certified from the applicable recording office) of the Mortgage and, if applicable, the originals (or copies
thereof certified from the applicable recording office) of any intervening assignments thereof showing a complete chain of assignment
from the Originator of the Mortgage Loan or Serviced


 



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Whole Loan to the most recent assignee of record thereof prior to the Trustee,
if any, in each case with evidence of recording indicated thereon;


 


(iii)        an original
or copy (if the related Mortgage Loan Seller or its designee, rather than the Custodian and its designee, is responsible for the
recording thereof) of an Assignment of Mortgage, in recordable form (except for missing recording information and, if delivered
in blank, except for the name of the assignee), executed by the most recent assignee of record thereof prior to the Trustee or,
if none, by the Originator, either in blank or in favor of the Trustee in the following form: “Wilmington Trust, National
Association, as Trustee, for the benefit of the Holders of DBJPM 2016-C1 Mortgage Trust Commercial Mortgage Pass-Through Certificates,
Series 2016-C1” (and, with respect to any Serviced Whole Loan, on behalf of any related Serviced Companion Loan Noteholders);


 


(iv)        (A) an
original or copy of any related security agreement (if such item is a document separate from the Mortgage) and, if applicable,
the originals or copies of any intervening assignments thereof showing a complete chain of assignment from the Originator of the
related Mortgage Loan or Serviced Whole Loan to the most recent assignee thereof prior to the Trustee, if any; and (B) an
original assignment of any related security agreement (if such item is a document separate from the related Mortgage) executed
by the most recent assignee thereof prior to the Trustee or, if none, by the Originator, either in blank or in favor of the Trustee
in the following form: “Wilmington Trust, National Association, as Trustee, for the benefit of the Holders of DBJPM 2016-C1
Mortgage Trust Commercial Mortgage Pass-Through Certificates, Series 2016-C1” (in such capacity and, with respect to any
Serviced Whole Loan, on behalf of any related Serviced Companion Loan Noteholders), which assignment may be included as part of
the corresponding Assignment of Mortgage referred to in clause (iii) above;


 


(v)         (A) stamped
or certified copies of any UCC financing statements and continuation statements which were filed in order to perfect (and maintain
the perfection of) any security interest held by the Originator of the Mortgage Loan or Serviced Whole Loan (and each assignee
of record prior to the Trustee) in and to the personalty of the Borrower at the Mortgaged Property (in each case with evidence
of filing or recording thereon) and which were in the possession of the related Mortgage Loan Seller (or its agent) at the time
the Mortgage Files were delivered to the Custodian, together with original UCC-3 assignments of financing statements showing a
complete chain of assignment from the secured party named in such UCC-1 financing statement to the most recent assignee of record
thereof prior to the Trustee, if any, and (B) if any such security interest is perfected and the earlier UCC financing statements
and continuation statements were in the possession of the related Mortgage Loan Seller, an assignment of UCC financing statement
by the most recent assignee of record prior to the Trustee or, if none, by the Originator, evidencing the transfer of such security
interest, either in blank or in favor of the Trustee in the following form: “Wilmington Trust, National Association, as Trustee,
for the benefit of the Holders of DBJPM 2016-C1 Mortgage Trust Commercial Mortgage Pass-Through Certificates, Series 2016-C1”
(in such capacity and, with respect to any Serviced Whole Loan, on behalf of any related Serviced Companion Loan Noteholders);
provided that other evidence of filing or recording reasonably acceptable to


 



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the Trustee may be delivered in lieu of delivering
such UCC financing statements including, without limitation, evidence of such filed or recorded UCC Financing Statement as shown
on a written UCC search report from a reputable search firm, such as CSC/LexisNexis Document Solutions, Corporation Service Company,
CT Corporation System and the like or printouts of on-line confirmations from such UCC filing or recording offices or authorized
agents thereof;


 


(vi)        the original
or a copy of the Loan Agreement relating to such Mortgage Loan, if any;


 


(vii)       the original
or a copy of the lender’s title insurance policy issued in connection with the origination of the Mortgage Loan, together
with all endorsements or riders (or copies thereof) that were issued with or subsequent to the issuance of such policy, insuring
the priority of the Mortgage as a first lien on the Mortgaged Property, or, subject to Section 2(d) of the applicable
Mortgage Loan Purchase Agreement, a “marked up” commitment to insure marked as binding and countersigned by the related
insurer or its authorized agent (which may be a pro forma or specimen title insurance policy which has been accepted or
approved as binding in writing by the related title insurance company), or, subject to Section 2(d) of the applicable
Mortgage Loan Purchase Agreement, an agreement to provide the same pursuant to binding escrow instructions executed by an authorized
representative of the title company;


 


(viii)      (A) the
original or a copy of the related Assignment of Leases, Rents and Profits (if such item is a document separate from the Mortgage)
and, if applicable, the originals or copies of any intervening assignments thereof showing a complete chain of assignment from
the Originator of the Mortgage Loan or Serviced Whole Loan to the most recent assignee of record thereof prior to the Trustee,
if any, in each case with evidence of recording thereon; and (B) an original or copy (if the related Mortgage Loan Seller
or its designee, rather than the Custodian and its designee, is responsible for the recording thereof) of an assignment of any
related Assignment of Leases, Rents and Profits (a “Reassignment of Assignment of Leases, Rents and Profits”)
(if such item is a document separate from the Mortgage), in recordable form (except for missing recording information and, if delivered
in blank, except for the name of the assignee), executed by the most recent assignee of record thereof prior to the Trustee or,
if none, by the Originator, either in blank or in favor of the Trustee in the following form: “Wilmington Trust, National
Association, as Trustee, for the benefit of the Holders of DBJPM 2016-C1 Mortgage Trust Commercial Mortgage Pass-Through Certificates,
Series 2016-C1” (in such capacity and, with respect to any Serviced Whole Loan, on behalf of any related Serviced Companion
Loan Noteholders), which assignment may be included as part of the corresponding Assignment of Mortgage referred to in clause (iii)
above;


 


(ix)         the original
or copy of any environmental indemnity agreements and copies of any environmental insurance policies pertaining to the related
Mortgaged Property required in connection with origination of the related Mortgage Loan or Serviced Whole Loan and copies of Environmental
Reports;


 


(x)          copies of the
currently effective Management Agreements, if any, for the Mortgaged Properties;


 



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(xi)         if the Borrower
has a leasehold interest in the related Mortgaged Property, the original or copy of the ground lease (or, with respect to a leasehold
interest where the Borrower is a lessee and that is a space lease or an air rights lease, the original of such space lease or air
rights lease), and any related lessor estoppel or similar agreement or a copy thereof; if any;


 


(xii)        if the related
assignment of contracts is separate from the Mortgage, the original executed version of such assignment of contracts and the assignment
thereof, if any, to the Trustee;


 


(xiii)       if any related
Lock-Box Agreement or Cash Collateral Account Agreement is separate from the Mortgage or Loan Agreement, a copy thereof; with respect
to the Reserve Accounts, Cash Collateral Accounts and Lock-Box Accounts, if any, a stamped or certified copy of the UCC-1 financing
statements, if any, submitted for filing with respect to the related mortgagee’s security interest in the Reserve Accounts,
Cash Collateral Accounts and Lock-Box Accounts and all funds contained therein (and UCC-3 assignments of financing statements assigning
such UCC-1 financing statements to the Trustee in the following form: “Wilmington Trust, National Association, as Trustee,
for the benefit of the Holders of DBJPM 2016-C1 Mortgage Trust Commercial Mortgage Pass-Through Certificates, Series 2016-C1”
(in such capacity and, with respect to any Serviced Whole Loan, on behalf of any related Serviced Companion Loan Noteholders));


 


(xiv)      originals
or copies of all assumption, modification, written assurance and substitution agreements, if any, with evidence of recording thereon
if appropriate, in those instances where the terms or provisions of the Mortgage, the Mortgage Note or any related security document
have been modified or the Mortgage Loan or Serviced Whole Loan has been assumed;


 


(xv)       the original
or a copy of any guaranty of the obligations of the Borrower under the Mortgage Loan or Serviced Whole Loan together with, as applicable,
(A) the original or copies of any intervening assignments of such guaranty showing a complete chain of assignment from the
Originator of the Mortgage Loan or Serviced Whole Loan to the most recent assignee thereof prior to the Trustee, if any, and (B) an
original assignment of such guaranty executed by the most recent assignee thereof prior to the Trustee or, if none, by the Originator;


 


(xvi)      the original
or a copy of the power of attorney (with evidence of recording thereon, if appropriate) granted by the related Borrower if the
Mortgage, Mortgage Note or other document or instrument referred to above was signed on behalf of the Borrower pursuant to such
power of attorney;


 


(xvii)     with respect
to each Whole Loan, a copy of the related Intercreditor Agreement and, if applicable, a copy of the related Other Pooling and Servicing
Agreement;


 


(xviii)     with respect
to hospitality properties, a copy of the franchise agreement, if any, an original or copy of the comfort letter, if any, and if,
pursuant to the terms of such comfort letter, the general assignment of the Mortgage Loan is not sufficient to transfer or


 



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assign
the benefits of such comfort letter to the Trust, a copy of the notice to the franchisor of the transfer of such Mortgage Loan
and/or a copy of the request for the issuance of a new comfort letter in favor of the Trust (in each case, as and to the extent
required pursuant to the terms of such comfort letter), with the original of any replacement comfort letter to be included in the
Mortgage File following receipt thereof by the Master Servicer;


 


(xix)       the original
(or copy, if the original is held by the Master Servicer or applicable Other Servicer pursuant to Section 2.01(c) of
this Agreement) of any letter of credit held by the lender as beneficiary or assigned as security for such Mortgage Loan or Serviced
Whole Loan;


 


(xx)        the appropriate
assignment or amendment documentation related to the assignment to the Trust of any letter of credit securing such Mortgage Loan
or Serviced Whole Loan (or copy thereof, if the original is held by the Master Servicer or applicable Other Servicer pursuant to
Section 2.01(c) of this Agreement) which entitles the Master Servicer on behalf of the Trust and the Companion Noteholders
(with respect to any Serviced Whole Loan) to draw thereon; and


 


(xxi)       with respect
to any Mortgage Loan with related mezzanine debt or other subordinate debt (other than a Companion Loan), a copy of the related
co-lender agreement, subordination agreement or other intercreditor agreement.


 


The original assignments referred to
in clauses (iii), (iv)(B), (viii)(B) and (xv)(B), may be in the form of one or more instruments in
recordable form in any applicable filing or recording offices.


 


Notwithstanding anything to the contrary
contained in this Section 2.01(a), (b) or (c) or in Section 2.02, in connection with a Servicing Shift
Whole Loan (1) instruments of assignment to the Trustee may be in blank and need not be recorded pursuant to this Agreement (other
than the endorsements to the Note(s) evidencing the related Servicing Shift Mortgage Loan) until the earlier of (i) the related
Servicing Shift Securitization Date, in which case such instruments shall be assigned and recorded in accordance with the related
Other Pooling and Servicing Agreement, and (ii) such Servicing Shift Whole Loan becoming a Specially Serviced Loan prior to such
Servicing Shift Securitization Date, in which case assignments and recordations shall be effected in accordance with this Section
2.01(a) until the occurrence, if any, of such Servicing Shift Securitization Date, (2) no letter of credit need be amended
(including, without limitation, to change the beneficiary thereon) until the earlier of (i) the related Servicing Shift Securitization
Date, in which case such amendment shall be in accordance with the related Other Pooling and Servicing Agreement and (ii) such
Servicing Shift Whole Loan becoming a Specially Serviced Loan prior to such Servicing Shift Securitization Date in which case such
amendment shall be effected in accordance with the terms of this Section 2.01, and (3) on and following such Servicing Shift
Securitization Date, the Person selling the related Servicing Shift Lead Note to the related Other Depositor, at its own expense,
shall be (a) entitled to direct in writing, which may be conclusively relied upon by the Custodian, the Custodian to deliver the
originals of all the Loan Documents relating to such Servicing Shift Whole Loan in its possession (other than the original Note(s)
evidencing such Servicing Shift Mortgage Loan) to the related Other Trustee or the related Other Custodian, (b) if the right under
clause (a) is exercised, required to cause the retention by or delivery to the Custodian of photocopies of Loan


 



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Documents
related to such Servicing Shift Whole Loan so delivered to such Other Trustee or such Other Custodian, (c) entitled to cause the
completion (or, in the event of a recordation as contemplated by clause (1)(ii) of this paragraph, the preparation, execution
and delivery) and recordation of instruments of assignment in the name of the related Other Trustee or related Other Custodian,
(d) if the right under clause (c) is exercised, required to deliver to the Trustee or Custodian photocopies of any instruments
of assignment so completed and recorded, and (e) entitled to require the Master Servicer to transfer, and to cooperate with all
reasonable requests in connection with the transfer of, the Servicing File, and any Escrow Payments, reserve funds and items specified
in clauses (xix) and (xx) of Section 2.01(a) for such Servicing Shift Whole Loan to the related Other Servicer.


 


With respect to Serviced Whole Loans,
except for the Mortgage Note referred to in clause (i)(B) of the second preceding paragraph, only a single original
set of the Loan Documents specified above is required to be delivered. With respect to a Non-Serviced Mortgage Loan, any assignments
or other transfer documents referred to in clause (i)(B) of the second preceding paragraph as being in favor of the
Trustee shall instead be in favor of the applicable Other Trustee and (1) if the Custodian is not also the related Non-Serviced
Whole Loan Custodian, the preceding document delivery requirements will be met by the delivery by the applicable Mortgage Loan
Seller to the Custodian of copies of the documents specified above (other than the Mortgage Note and intervening endorsements evidencing
a Non-Serviced Mortgage Loan, with respect to which the originals shall be required), including a copy of the Mortgage securing
the applicable Non-Serviced Mortgage Loan and copies of the companion notes or (2) if the Custodian is also the related Non-Serviced
Whole Loan Custodian, the preceding document delivery requirements shall be met by the delivery by the Mortgage Loan Seller to
the Custodian of only the original Mortgage Note and intervening endorsements evidencing such Non-Serviced Mortgage Loan (and,
if any document specified in Section 2.01(a) of this Agreement was not required to be delivered in connection with the related
Other Securitization, a copy of such document); provided that with respect to such Non-Serviced Mortgage Loan, if Wells
Fargo Bank, National Association ceases to be Custodian with respect to such Non-Serviced Mortgage Loan, it shall, upon receipt
of a request for release, provide the original note, allonge and intercreditor agreement and copies of all other Loan Documents
specified above to the successor Custodian.


 


With respect to the Mortgage Loans,
within 45 days after the Closing Date or, without limiting the requirements of the third paragraph of Section 2.01(b), after
such later date on which the Mortgage Loan Seller has received all the missing recording/filing information, each Mortgage Loan
Seller will, or will at the expense of such Mortgage Loan Seller retain a third party vendor to, except in the case of any Mortgage
Loan that is a Non-Serviced Mortgage Loan, (1) complete (to the extent necessary) and submit for recording in favor of the
Trustee in the following form: “Wilmington Trust, National Association, as Trustee, for the benefit of the Holders of DBJPM
2016-C1 Mortgage Trust Commercial Mortgage Pass-Through Certificates, Series 2016-C1” (and with respect to a Serviced Whole
Loan, the related Serviced Companion Loan Noteholders) in the appropriate public recording office (a) each Assignment of Mortgage
referred to in Section 2.01(a)(iii) which has not yet been submitted for recording and (b) each Reassignment of Assignment
of Leases, Rents and Profits referred to in Section 2.01(a)(viii)(B) (if not otherwise included in the related
Assignment of Mortgage) which has not yet been submitted for recordation; and (2) complete (to the extent necessary) and file
in


 



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the appropriate public filing office each UCC assignment of financing statement referred to in Section 2.01(a)(v)(B)
and (xiii) which has not yet been submitted for filing or recording. Each such document shall reflect that the recorded original
should be returned by the public recording office to the Custodian or its designee (or to the Mortgage Loan Seller or its designee
as an alternative) following recording, and each such document shall reflect that the file copy thereof should be returned to the
Custodian or its designee (or to the Mortgage Loan Seller or its designee as an alternative) following filing; provided
that in those instances where the public recording office retains the original Assignment of Mortgage or Reassignment of Assignment
of Leases, Rents and Profits, the Custodian shall use commercially reasonable efforts to obtain therefrom a certified copy of the
recorded original, at the expense of the Depositor. In the event that any such document or instrument in respect of any Mortgage
Loan is lost or returned unrecorded or unfiled, as the case may be, because of a defect therein, the related Mortgage Loan Seller
shall promptly prepare or cause the preparation of a substitute thereof or cure or cause the curing of such defect, as the case
may be, and shall thereafter deliver the substitute or corrected document to or at the direction of the Custodian or such other
third party vendor as retained by the Mortgage Loan Seller for recording or filing, as appropriate, at such Mortgage Loan Seller’s
expense (as set forth in the related Mortgage Loan Purchase Agreement). In the event that any Mortgage Loan Seller receives the
original recorded or filed copy, each Mortgage Loan Seller will, promptly upon receipt of the original recorded or filed copy (and
in no event later than five Business Days following such receipt) deliver such original to the Custodian, with evidence of filing
or recording thereon. Notwithstanding anything to the contrary contained in this Section 2.01, in those instances where
the public recording office retains the original Mortgage, Assignment of Mortgage, Assignment of Leases, Rents and Profits or Reassignment
of Assignment of Leases, Rents and Profits, if applicable, after any has been recorded, the obligations of the related Mortgage
Loan Seller under the applicable Mortgage Loan Purchase Agreement shall be deemed to have been satisfied upon delivery to the Custodian
of a copy of the recorded original of such Mortgage, Assignment of Mortgage, Assignment of Leases, Rents and Profits or Reassignment
of Assignment of Leases, Rents and Profits, if applicable.


 


If a Mortgage Loan Seller cannot deliver,
or cause to be delivered, as to any Mortgage Loan, the original or a copy of the related lender’s title insurance policy
referred to in Section 2.01(a)(vii) solely because such policy has not yet been issued, the delivery requirements of
this Section 2.01 will be deemed to be satisfied as to such missing item, and such missing item will be deemed to have
been included in the related Mortgage File by delivery to the Custodian of a binder marked as binding and countersigned by the
title insurer or its authorized agent (which may be a pro forma or specimen title insurance policy which has been accepted
or approved as binding in writing by the related title insurance company) or an acknowledged closing instruction or escrow letter,
and the Mortgage Loan Seller will be required to deliver to the Custodian, promptly following the receipt thereof, the original
related lender’s title insurance policy (or a copy thereof). Copies of recorded or filed Assignments of Mortgage, Reassignments
of Assignment of Leases, Rents and Profits and UCC assignments of financing statements shall be held by the Custodian.


 


Subject to the third preceding paragraph,
all original documents relating to the Mortgage Loans which are not delivered to the Custodian are and shall be held by the Depositor
or the Master Servicer (or a sub-servicer on its behalf), as the case may be, in trust for the benefit of the Certificateholders
and, insofar as they also relate to the Serviced Companion Loans, on


 



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behalf of and for the benefit of the related Serviced Companion
Loan Noteholders. In the event that any such original document, or in the case of a Serviced Companion Loan, the original Mortgage
Note, is required pursuant to the terms of this Section to be a part of a Mortgage File in order to effectuate the purposes
of this Agreement, such document shall be delivered promptly to the Custodian.


 


(b)          In connection with the Depositor’s
assignment pursuant to subsection (a) above, the Depositor shall direct, and hereby represents and warrants that it has directed,
each of the Mortgage Loan Sellers pursuant to the applicable Mortgage Loan Purchase Agreement to deliver to and deposit with or
cause to be delivered to and deposited with, (i) the Custodian, on or before the Closing Date, for each Mortgage Loan so assigned
the Mortgage Note (or a copy of the Mortgage Note evidencing each related Serviced Companion Loan), the original or a copy of the
related Mortgage, the original or a copy of the title policy for each Mortgage Loan (subject to the second-to-last paragraph under
Section 2.01(a)), a copy of the related ground lease (or, with respect to a leasehold interest with respect to a space
lease or air rights, a copy of the related space lease or air rights lease), if applicable, for each Mortgage Loan and an original
(or copy, if the original is held by the Master Servicer pursuant to Section 2.01(c)) of any letters of credit held
by the lender as beneficiary or assigned as security for the Mortgage Loan, and, except as otherwise provided in the following
paragraph, within 30 days following the Closing Date, the remaining applicable documents referred to in Section 2.01(a) for
each such Mortgage Loan or Serviced Companion Loan, in each case, with copies to the Master Servicer and (ii) the Master Servicer,
on or before the Closing Date, all documents and records that are part of each applicable Servicing File. If the applicable Mortgage
Loan Seller cannot deliver, or cause to be delivered, as to any Mortgage Loan, the original Mortgage Note, such Mortgage Loan Seller
shall deliver a copy or duplicate original of such Mortgage Note, together with an affidavit certifying that the original thereof
has been lost or destroyed and an indemnification in favor of the Certificate Administrator, the Trustee and the Custodian.


 


If the applicable Mortgage Loan Seller
or the Depositor cannot deliver, or cause to be delivered, as to any Mortgage Loan (subject to any qualifications provided for
herein or in the related Mortgage Loan Purchase Agreement with respect to a Non-Serviced Mortgage Loan), the original or a copy
of any of the documents and/or instruments referred to in Section 2.01(a)(ii), Section 2.01(a)(iii), Section
2.01(a)(v), Section 2.01(a)(viii), Section 2.01(a)(xiv) and Section 2.01(a)(xvi) and the
UCC financing statements and UCC assignments of financing statements referred to in Section 2.01(a)(xiii), with evidence
of recording or filing thereon, solely because of a delay caused by the public recording or filing office where such document or
instrument has been delivered for recordation or filing, or because such original recorded or filed document has been lost or returned
from the recording or filing office and subsequently lost, as the case may be, the delivery requirements of Section 2.01
shall be deemed to have been satisfied as to such missing item, and such missing item shall be deemed to have been included in
the related Mortgage File, provided that a copy of such document or instrument (without evidence of recording or filing
thereon, but certified (which certificate may relate to multiple documents and/or instruments) by the applicable public recording
or filing office, the applicable title insurance company or the related Mortgage Loan Seller to be a true and complete copy of
the original thereof submitted for recording or filing, as the case may be) has been delivered to the Custodian within 60 days
after the Closing Date, and either the original of such missing document or instrument, or a copy thereof, with evidence of


 



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recording
or filing, as the case may be, thereon, is delivered to the Custodian within 180 days after the Closing Date (or within such
longer period after the Closing Date so long as the related Mortgage Loan Seller has provided the Custodian with evidence of such
recording or filing, as the case may be, or has certified to the Custodian as to the occurrence of such recording or filing, as
the case may be, and is, as certified to the Custodian no less often than quarterly, in good faith attempting to obtain from the
appropriate county recorder’s or filing office such original or copy, provided such extensions do not exceed 24 months in
the aggregate).


 


(c)          Notwithstanding anything herein
to the contrary, with respect to the documents referred to in Section 2.01(a)(xix) and Section 2.01(a)(xx)
of this Agreement, the Master Servicer shall hold (or the applicable Other Servicer with respect to any Non-Serviced Mortgage Loan
will hold) the original of each such document in trust on behalf of the Trust (or the applicable Other Trust with respect to any
Non-Serviced Mortgage Loan) in order to draw on such letter of credit on behalf of the Trust (or the applicable Other Trust with
respect to any Non-Serviced Mortgage Loan) and the applicable Mortgage Loan Seller shall be deemed to have satisfied the delivery
requirements of the related Mortgage Loan Purchase Agreement and this Section 2.01 of this Agreement by delivering
the original of each such document to the Master Servicer (or the applicable Other Servicer with respect to any Non-Serviced Mortgage
Loan) who shall forward a copy of the applicable document to the Custodian (or the custodian in the applicable Other Securitization
with respect to any Non-Serviced Mortgage Loan). The applicable Mortgage Loan Seller shall pay any costs of assignment or amendment
of such letter of credit (which amendment shall change the beneficiary of the letter of credit to the Trust (or the applicable
Other Trust with respect to any Non-Serviced Mortgage Loan) in care of the Master Servicer (or the applicable Other Servicer with
respect to any Non-Serviced Mortgage Loan)) required in order for the Master Servicer (or the applicable Other Servicer with respect
to any Non-Serviced Mortgage Loan) to draw on such letter of credit on behalf of the Trust (or the applicable Other Trust with
respect to any Non-Serviced Mortgage Loan). In the event that the documents specified in Section 2.01(a)(xx) of
this Agreement are missing with respect to any Mortgage Loan (other than a Non-Serviced Mortgage Loans) because the related assignment
or amendment documents have not been completed, the applicable Mortgage Loan Seller shall take all necessary steps to enable the
Master Servicer to draw on the related letter of credit on behalf of the Trust including, if necessary, drawing on the letter of
credit in its own name pursuant to written instructions from the Master Servicer and immediately remitting such funds (or causing
such funds to be remitted) to the Master Servicer.


 


(d)          With respect to the Mortgage
Loans (other than a Non-Serviced Mortgage Loan) secured by the Mortgaged Properties identified as Loan Nos. 4, 15, 25 and 31 on
the Mortgage Loan Schedule, which are each subject to a franchise agreement with a related comfort letter in favor of the respective
Mortgage Loan Seller that requires notice to or request of the related franchisor to transfer or assign any related comfort letter
to the Trust or otherwise have a new comfort letter issued in the name of the Trust, the related Mortgage Loan Seller or its designee
will be required to provide any such required notice or make any such required request to the related franchisor, with a copy of
such notice or request to the Master Servicer, or take any such other required action, in any event, within 45 days of the Closing
Date (or any shorter period if required by the applicable comfort letter), notify the related franchisor that such Mortgage Loan
has been transferred to the Trust and request a replacement comfort letter (or any such new document or acknowledgement as may
be contemplated under the existing comfort


 



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letter), and the Master Servicer shall use reasonable efforts in accordance with the
Servicing Standard to acquire such replacement comfort letter, if necessary (or to acquire any such new document or acknowledgement
as may be contemplated under the existing comfort letter).


 


(e)          [Reserved.]


 


(f)          Each Mortgage Loan Purchase
Agreement shall provide that within 60 days after the Closing Date, each Mortgage Loan Seller shall deliver or cause to be delivered
an electronic copy of the Diligence File for each of its Mortgage Loans to (or as instructed by) the Depositor, together with an
index identifying each such document delivered, each such Diligence File being organized and categorized in accordance with the
electronic file structure reasonably agreed to by the Depositor and the related Mortgage Loan Seller. Each Mortgage Loan Purchase
Agreement shall further provide that within 60 days after the Closing Date, the applicable Mortgage Loan Seller shall provide to
the Depositor (together with copies (which may be sent by electronic mail) to the Master Servicer, the Special Servicer, the Trustee,
the Certificate Administrator and the Asset Representations Reviewer) with a certificate stating that (i) the applicable Mortgage
Loan Seller has delivered or caused to be delivered an electronic copy of the Diligence File for each of its Mortgage Loans, (ii)
the Diligence File contains all documents and information required under the definition of “Diligence File” and (iii)
the Diligence File is organized and categorized in accordance with the electronic file structure reasonably agreed to by the Depositor
and the related Mortgage Loan Seller (the “Diligence File Certification”).


 


Section 2.02     Acceptance
by Custodian and the Trustee. By its execution and delivery of this Agreement, the Trustee acknowledges the assignment to
it of the Mortgage Loans in good faith without notice of adverse claims and declares that the Custodian holds and will hold such
documents and all others delivered to it constituting the Mortgage File (to the extent the documents constituting the Mortgage
File are actually delivered to the Custodian) for any Mortgage Loan assigned to the Trustee hereunder in trust, upon the conditions
herein set forth, for the use and benefit of all present and future Certificateholders and Serviced Companion Loan Noteholders.


 


The Custodian hereby certifies to each
of the Directing Holder, the Depositor, the Certificate Administrator, the Trustee, the Master Servicer, the Special Servicer,
the Operating Advisor and each Mortgage Loan Seller that except as identified in the Custodian’s closing date certification,
which shall be delivered no later than two Business Days after the Closing Date substantially in the form attached as Exhibit N-1
to this Agreement, (i) each Mortgage Note (or copy thereof, with respect to any Serviced Companion Loan) is in its possession
and has been reviewed by the Custodian and (A) appears regular on its face (handwritten additions, changes or corrections
shall not constitute irregularities if initialed by the Borrower), (B) appears to have been executed (where appropriate) and
(C) purports to relate to such Mortgage Loan and (ii) each of the documents specified in Section 2.01(a)(ii),
Section 2.01(a)(vii), Section 2.01(a)(xi) and Section 2.01(a)(xix) of this Agreement have been
received, have been executed, appear to be what they purport to be, purport to be recorded or filed (as applicable) and have not
been torn in any materially adverse manner or mutilated or otherwise defaced, and that such documents relate to the Mortgage Loans
identified in the Mortgage Loan Schedule. If the Custodian does not send a closing date certification on the Closing Date, it shall
send an email confirmation to the Trustee that it has received all of the Mortgage Notes (or copies or lost note affidavits as
permitted), subject to any exceptions noted therein, on the Closing Date.


 



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On or about the 60th day following
the Closing Date (and, if any exceptions are noted, again on or about the 90th day following the Closing Date and monthly thereafter
until the earliest of (i) the second anniversary of the Closing Date, (ii) the day on which all material exceptions have
been removed and (iii) the day on which the applicable Mortgage Loan Seller has repurchased or substituted for the last affected
Mortgage Loan), the Custodian shall review each Mortgage File and shall certify to each of the Controlling Class Representative,
the Depositor, the Certificate Administrator, the Trustee, the Master Servicer, the Special Servicer, the Operating Advisor, the
Asset Representations Reviewer and each Mortgage Loan Seller in the form attached as Exhibit N-2 to this Agreement
that all documents (other than documents referred to in clauses (xix) and (xx) of Section 2.01(a) of this Agreement,
which shall be delivered to the Master Servicer, and the documents referred to in clauses (iii), (iv)(B), (v)(B)
and (viii)(B) of Section 2.01(a) of this Agreement and the assignments of financing statements referred
to in clause (xiii) of Section 2.01(a) of this Agreement, which shall be delivered for filing or recording
by the related Mortgage Loan Seller as provided herein) referred to in Section 2.01(a) above (in the case of the documents
referred to in Section 2.01(a)(iv), Section 2.01(a)(vi), Section 2.01(a)(viii), Section 2.01(a)(ix),
Section 2.01(a)(x), Section 2.01(a)(xi), Section 2.01(a)(xii) through Section 2.01(a)(xvi)
and Section 2.01(a)(xviii) through Section 2.01(a)(xx) of this Agreement, as identified to it in writing as
a document required to be delivered by the related Mortgage Loan Seller) and any original recorded documents included in the delivery
of a Mortgage File have been received, have been executed, appear to be what they purport to be, purport to be recorded or filed
(as applicable) and have not been torn in any materially adverse manner or mutilated or otherwise defaced, and that such documents
relate to the Mortgage Loans identified in the Mortgage Loan Schedule. In so doing, the Custodian may rely on the purported due
execution and genuineness of any such document and on the purported genuineness of any signature thereon. With respect to any Non-Serviced
Mortgage Loan, the Custodian shall only be required to certify to each of the Controlling Class Representative, the Depositor,
the Certificate Administrator, the Trustee, the Master Servicer, the Special Servicer, the Operating Advisor, the Asset Representations
Reviewer and each Mortgage Loan Seller that the document set forth in Section 2.01(a)(i) has been received, subject to the
preceding provisions of this Section 2.02.


 


If at the conclusion of such review
any document or documents constituting a part of a Mortgage File have not been executed or received, have not been recorded or
filed (if required), are unrelated to the Mortgage Loans identified in the Mortgage Loan Schedule, appear not to be what they purport
to be or have been torn in any materially adverse manner or mutilated or otherwise defaced, the Custodian shall promptly so notify
(in the form attached as Exhibit M to this Agreement) the Trustee, the Directing Holder (but only if no Consultation
Termination Event has occurred and is continuing), the Depositor, the Certificate Administrator, the Master Servicer, the Special
Servicer, the Operating Advisor, the Asset Representations Reviewer and the related Mortgage Loan Seller by providing a written
report, setting forth for each affected Mortgage Loan, with particularity, the nature of the defective or missing document. The
Depositor shall or shall cause the related Mortgage Loan Seller to deliver to the Custodian an executed, recorded or undamaged
document, as applicable, or, if the failure to deliver such document in such form constitutes a Material Defect, the Depositor
shall cause the related Mortgage Loan Seller to cure, repurchase or substitute for the related Mortgage Loan in the manner provided
in Section 2.03(e) of this Agreement. None of the Master Servicer, the Special Servicer, the Certificate Administrator,
the Custodian or the Trustee shall be responsible for any


 



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loss, cost, damage or expense to the Trust Fund resulting from any failure
to receive any document constituting a portion of a Mortgage File noted on such a report or for any failure by the Depositor to
use its best efforts to deliver any such document.


 


Contemporaneously with its execution
of this Agreement, the Depositor shall cause each Mortgage Loan Seller to deliver a power of attorney substantially in the form
of Exhibit C to the applicable Mortgage Loan Purchase Agreement to the Master Servicer and Special Servicer, that permits
such parties to take such other action as is necessary to effect the delivery, assignment and/or recordation of any documents and/or
instruments relating to any Mortgage Loan which have not been delivered, assigned or recorded at the time required for enforcement
by the Trust Fund. Pursuant to the related Mortgage Loan Purchase Agreement, each of the Mortgage Loan Sellers will be required
to effect (at the expense of the applicable Mortgage Loan Seller) the assignment and recordation of its respective Loan Documents
until the assignment and recordation of all such Loan Documents has been completed.


 


In reviewing any Mortgage File pursuant
to the third preceding paragraph or Section 2.01 of this Agreement, the Master Servicer shall have no responsibility
to cause the Custodian or Trustee to, and the Custodian or Trustee will have no responsibility to, examine any opinions or determine
whether any document is legal, valid, binding, sufficient, duly authorized or enforceable, whether the text of any assignment or
endorsement is in proper or recordable form (except, if applicable, to determine if the Trustee is the assignee or endorsee), whether
any document has been recorded in accordance with the requirements of any applicable jurisdiction, whether a blanket assignment
is permitted in any applicable jurisdiction, or whether any Person executing any document or rendering any opinion is authorized
to do so or whether any signature thereon is genuine.


 


The Custodian shall hold that portion
of the Trust Fund delivered to the Custodian consisting of “instruments” (as such term is defined in Section 9-102
of the Uniform Commercial Code as in effect in Minnesota on the date hereof) in Minnesota and, except as otherwise specifically
provided in this Agreement, shall not remove such instruments from Minnesota unless it receives an Opinion of Counsel (obtained
and delivered at the expense of the Person requesting the removal of such instruments from Minnesota) that if the transfer of the
Mortgage Loans to the Trustee is deemed not to be a sale, after such removal, the Trustee will possess a first priority perfected
security interest in such instruments.


 


Section 2.03     Representations,
Warranties and Covenants of the Depositor; Repurchase and Substitution of Mortgage Loans. (a)  The Depositor
hereby represents and warrants that:


 


(i)          The Depositor
is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware;


 


(ii)         The Depositor
has taken all necessary action to authorize the execution, delivery and performance of this Agreement by it, and has the power
and authority to execute, deliver and perform this Agreement and all the transactions contemplated hereby, including, but not limited
to, the power and authority to sell, assign and transfer the Mortgage Loans in accordance with this Agreement;


 



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(iii)         This Agreement
has been duly and validly executed and delivered by the Depositor and assuming the due authorization, execution and delivery of
this Agreement by each other party hereto, this Agreement and all of the obligations of the Depositor hereunder are the legal,
valid and binding obligations of the Depositor, enforceable in accordance with the terms of this Agreement, except as such enforcement
may be limited by bankruptcy, insolvency, reorganization, liquidation, receivership, moratorium or other laws relating to or affecting
creditors’ rights generally, or by general principles of equity (regardless of whether such enforceability is considered
in a proceeding in equity or at law);


 


(iv)        The execution
and delivery of this Agreement and the performance of its obligations hereunder by the Depositor will not conflict with any provision
of its certificate of incorporation or bylaws, or any law or regulation to which the Depositor is subject, or conflict with, result
in a breach of or constitute a default under (or an event which with notice or lapse of time or both would constitute a default
under) any of the terms, conditions or provisions of any agreement or instrument to which the Depositor is a party or by which
it is bound, or any law, order or decree applicable to the Depositor, or result in the creation or imposition of any lien on any
of the Depositor’s assets or property, which would materially and adversely affect the ability of the Depositor to carry
out the transactions contemplated by this Agreement;


 


(v)         The certificate
of incorporation of the Depositor provides that the Depositor is permitted to engage in only the following activities:


 


(A)          to acquire, own, hold,
sell, transfer, assign, pledge and otherwise deal with the following: (I) “fully-modified pass-through” certificates
(“GNMA Certificates”) issued and guaranteed as to timely payment of principal and interest by the Government
National Mortgage Association (“GNMA”), a wholly-owned corporate instrumentality of the United States within
the Department of Housing and Urban Development organized and existing under Title III of the National Housing Act of 1934; (II) Guaranteed
Mortgage Pass-Through Certificates (“FNMA Certificates”) issued and guaranteed as to timely payment of principal
and interest by FNMA; (III) Mortgage Participation Certificates (“FHLMC Certificates”) issued and guaranteed
as to timely payment of interest and ultimate or full payment of principal by FHLMC; (IV) any other participation certificates,
pass-through certificates or other obligations or interests backed directly or indirectly by mortgage loans and issued or guaranteed
by GNMA, FNMA or FHLMC (collectively with the GNMA Certificates, FNMA Certificates and FHLMC Certificates, the “Agency
Securities”); (V) mortgage-backed securities, which securities need not be issued or guaranteed, in whole or in
part, by any governmental entity, issued by one or more private entities (hereinafter referred to as “Private Securities”);
(VI) mortgage loans secured by first, second or more junior liens on one-to-four family residential properties, multifamily
properties that are either rental apartment buildings or projects containing five or more residential units or commercial properties,
regardless of whether insured or guaranteed in whole or in part by any governmental entity, or participation interests or stripped
interests in such mortgage loans (“Mortgage Loans”);


 



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(VII) conditional sales contracts and installment
sales or loan agreements or participation interests therein secured by manufactured housing (“Contract”); and
(VIII) receivables of third-parties or other financial assets of third-parties, either fixed or revolving, that by their terms
convert into cash within a finite time period (“Other Assets”);


 


(B)           to loan its funds
to any person under loan agreements and other arrangements which are secured by Agency Securities, Private Securities, Mortgage
Loans, Contracts and/or Other Assets;


 


(C)           to authorize, issue,
sell and deliver bonds or other evidences of indebtedness that are secured by Agency Securities, Private Securities, Mortgage Loans,
Contracts and/or Other Assets;


 


(D)          to authorize, issue,
sell and deliver certificates evidencing beneficial ownership interests in pools of Agency Securities, Private Securities, Mortgage
Loans, Contracts and/or Other Assets; and


 


(E)           to engage in any activity
and to exercise any powers permitted to corporations under the laws of the State of Delaware that are incident to the foregoing
and necessary or convenient to accomplish the foregoing.


 


Capitalized terms defined in this clause (v) shall
apply only to such clause;


 


(vi)        There is no
action, suit, proceeding or investigation pending or threatened against the Depositor in any court or by or before any other governmental
agency or instrumentality which would materially and adversely affect the ability of the Depositor to carry out its obligations
under this Agreement;


 


(vii)       No consent,
approval, authorization or order of, or registration or filing with, or notice to any court or governmental agency or body, is
required for the execution, delivery and performance by the Depositor of or compliance by the Depositor with this Agreement, or
if required, such approval has been obtained prior to the Cut-off Date; and


 


(viii)      The
Trustee, if not the owner of the related Mortgage Loan, will have a valid and perfected security interest of first priority in
each of the Mortgage Loans and any proceeds thereof.


 


(b)         The
Depositor hereby represents and warrants with respect to each Mortgage Loan that:


 


(i)          Immediately
prior to the transfer and assignment to the Trustee by the Depositor, the Mortgage Note and the Mortgage were not subject to an
assignment or pledge, and the Depositor had good title to, and was the sole owner of, the Mortgage Loan and had full right to
transfer and sell the Mortgage Loan to the Trustee free and clear of any encumbrance, equity, lien, pledge, charge, claim or security
interest; provided, that, in the case of a Non-Serviced Mortgage Loan, the related Mortgage has been (or will be) assigned
to the Other Trustee under the Other Pooling and Servicing Agreement for the



 



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benefit of the holders of securities issued in connection
with the related Other Securitization, as applicable;


 


(ii)         The Depositor
is transferring such Mortgage Loan free and clear of any and all liens, pledges, charges or security interests of any nature encumbering
such Mortgage Loan;


 


(iii)        The related
Assignment of Mortgage constitutes the legal, valid and binding assignment of such Mortgage from the Depositor to the Trustee,
and any related Reassignment of Assignment of Leases, Rents and Profits constitutes the legal, valid and binding assignment from
the Depositor to the Trustee; and


 


(iv)        No claims have
been made by the Depositor under the lender’s title insurance policy, and the Depositor has not done anything which would
impair the coverage of such lender’s title insurance policy.


 


(c)         It is understood and agreed
that the representations and warranties set forth in this Section 2.03 shall survive delivery of the respective Mortgage
Files to the Custodian until the termination of this Agreement, and shall inure to the benefit of the Certificateholders, any Serviced
Companion Loan Noteholders, Certificate Administrator, the Trustee, the Custodian, the Master Servicer and the Special Servicer.


 


(d)         If the Master Servicer or the
Special Servicer (i) receives a Repurchase Communication of a request or demand for repurchase or replacement of a Mortgage
Loan because of a Breach or a Defect (each as defined below) (any such request or demand, a “Repurchase Request”,
and the Master Servicer or the Special Servicer, as applicable, to the extent it receives a Repurchase Request, the “Repurchase
Request Recipient” with respect to such Repurchase Request); (ii) receives a Repurchase Communication of a withdrawal
of a Repurchase Request by the Person making such Repurchase Request (a “Repurchase Request Withdrawal”), (iii)
receives a Repurchase Communication that any Mortgage Loan that was subject to a Repurchase Request has been repurchased or replaced
(a “Repurchase”), or (iv) receives a Repurchase Communication of the rejection of a Repurchase Request (a “Repurchase
Request Rejection”), then such Person shall deliver written notice of such Repurchase Request, Repurchase Request Withdrawal,
Repurchase or Repurchase Request Rejection (each such notice, a “Rule 15Ga-1 Notice”) to the Depositor,
the Master Servicer, the Special Servicer and the related Mortgage Loan Seller, in each case within ten Business Days from such
party’s receipt of a Repurchase Communication of such Repurchase Request, Repurchase Request Withdrawal, Repurchase or Repurchase
Request Rejection, as applicable; provided however, if the Master Servicer or the Special Servicer receives notice of a Repurchase
Request Withdrawal or Repurchase Request Rejection from the Special Servicer or the Master Servicer, as applicable, then such receiving
party shall have no obligation to deliver such notice to any other party.


 


Each Rule 15Ga-1 Notice shall
include (i) the identity of the related Mortgage Loan, (ii) the date the Repurchase Communication of the Repurchase Request,
Repurchase Request Withdrawal, Repurchase or Repurchase Request Rejection, as applicable, was received and (iii) in the case
of a Repurchase Request, (A) the identity of the Person making such Repurchase Request, (B) if known, the basis for the
Repurchase Request (as asserted in the


 



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Repurchase Request) and (C) a statement from the Repurchase Request Recipient as to
whether it currently plans to pursue such Repurchase Request.


 


No Person that is required to provide
a Rule 15Ga-1 Notice pursuant to this Section 2.03(d) (a “Rule 15Ga-1 Notice Provider”)
shall be required to provide any information in a Rule 15Ga-1 Notice protected by the attorney-client privilege or attorney
work product doctrines. Each Mortgage Loan Purchase Agreement will provide that (i) any Rule 15Ga-1 Notice provided pursuant
to this Section 2.03(d) is so provided only to assist the related Mortgage Loan Seller, the Depositor and its Affiliates
to comply with Rule 15Ga-1 under the Exchange Act, Items 1104 and 1121 of Regulation AB and any other requirement of law or
regulation and (ii) (A) no action taken by, or inaction of, a Rule 15Ga-1 Notice Provider and (B) no information
provided pursuant to this Section 2.03(d) by a Rule 15Ga-1 Notice Provider, shall be deemed to constitute a waiver
or defense to the exercise of any legal right the Rule 15Ga-1 Notice Provider may have with respect to the related Mortgage
Loan Purchase Agreement, including with respect to any Repurchase Request that is the subject of a Rule 15Ga-1 Notice.


 


In the event that the Depositor, the
Trustee, the Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer or the Custodian receives a Repurchase
Communication of a Repurchase Request or a Repurchase Request Withdrawal, then such party shall promptly forward such Repurchase
Communication of such Repurchase Request or Repurchase Request Withdrawal to the Master Servicer, if relating to a Performing Loan,
or to the Special Servicer, if relating to a Specially Serviced Loan or REO Property, and include the following statement in the
related correspondence: “This is a “Repurchase Request [Withdrawal]” under Section 2.03(d) of the
Pooling and Servicing Agreement relating to the DBJPM 2016-C1 Mortgage Trust Commercial Mortgage Pass-Through Certificates, Series
2016-C1 requiring action by you as the recipient of such Repurchase Request or Repurchase Request Withdrawal thereunder”.
Upon receipt of such Repurchase Communication of such Repurchase Request or Repurchase Request Withdrawal by the Master Servicer
or the Special Servicer, as applicable, such party shall be deemed to be the Repurchase Request Recipient of such Repurchase Communication
of such Repurchase Request or Repurchase Request Withdrawal, and such party shall comply with the procedures set forth in this
Section 2.03(d) with respect to such Repurchase Request or Repurchase Request Withdrawal. In no event shall the Custodian,
by virtue of this provision, be required to provide any notice other than as set forth in Section 2.02 of this Agreement
in connection with its review of the Mortgage File.


 


(e)          A “Defect” shall
exist with respect to a Mortgage Loan if any document constituting a part of the related Mortgage File has not been delivered within
the time periods provided for in the related Mortgage Loan Purchase Agreement, has not been properly executed, is missing, does
not appear to be regular on its face or contains information that does not conform in any material respect with the corresponding
information set forth in the Mortgage Loan Schedule. A “Breach” shall mean a breach of any representation or warranty
of any Mortgage Loan Seller made pursuant to the related Mortgage Loan Purchase Agreement with respect to any Mortgage Loan. If
any party hereto discovers or receives notice of a Defect or a Breach, and if such Defect is a Material Defect or such Breach is
a Material Breach, as applicable, then such party, on behalf of the Trust Fund, shall give prompt written notice thereof (which
notice shall be accompanied by a written demand to cure, repurchase or substitute in


 



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accordance with the applicable Mortgage Loan
Purchase Agreement) to the related Mortgage Loan Seller, the other parties hereto, the 17g-5 Information Provider (who shall promptly
post such notice to the 17g-5 Information Provider’s Website pursuant to Section 3.14(d) of this Agreement),
the related Serviced Companion Loan Noteholder (if any) and, for so long as no Consultation Termination Event has occurred, the
Directing Holder. If any such Defect or Breach materially and adversely affects the value of any Mortgage Loan, the value of the
related Mortgaged Property or the interests of the Trustee in any Mortgage Loan or Mortgaged Property, or causes the related Mortgage
Loan to be other than a Qualified Mortgage, then such Defect shall constitute a “Material Defect” or such Breach shall
constitute a “Material Breach,” as the case may be; provided, that if any of the documents specified in Section 2.01(a)(i),
Section 2.01(a)(ii), Section 2.01(a)(vii), Section 2.01(a)(xi) and Section 2.01(a)(xix)
of this Agreement are not delivered as required in the related Mortgage Loan Purchase Agreement, it shall be deemed a Material
Defect. The Custodian, the Certificate Administrator and the Trustee shall not be required to make any such determination. Promptly
upon receiving written notice of any such Material Defect or Material Breach with respect to a Mortgage Loan, accompanied by a
written demand to take the actions contemplated by this sentence from the Depositor, the Master Servicer, the Special Servicer,
the Trustee, the Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer or the Custodian, on behalf
of the Trust Fund, the applicable Mortgage Loan Seller shall, not later than 90 days from the applicable Mortgage Loan Seller’s
receipt of such notice of such Material Defect or Material Breach, as the case may be (or, in the case of a Material Defect or
Material Breach relating to a Mortgage Loan not being a Qualified Mortgage, not later than 90 days after the Mortgage Loan
Seller or any party hereto discovering such Material Defect or Material Breach, provided that the related Mortgage Loan Seller
has received notice in accordance with the terms of the related Mortgage Loan Purchase Agreement) (any such 90-day period, the
“Initial Resolution Period”), (i) cure the same in all material respects, (ii) repurchase the affected
Mortgage Loan at the applicable Purchase Price in conformity with the applicable Mortgage Loan Purchase Agreement or (iii) substitute
a Qualified Substitute Mortgage Loan (other than with respect to the Whole Loans, as applicable, for which no substitution will
be permitted) for such affected Mortgage Loan (provided that, in no event shall such substitution occur later than the second
anniversary of the Closing Date) and pay to the Master Servicer for deposit into the Collection Account (or, with respect to any
Serviced Whole Loan, the applicable Serviced Whole Loan Collection Account) any Substitution Shortfall Amount in connection therewith;
provided that if (i) such Material Defect or Material Breach is capable of being cured but not within the Initial Resolution
Period or, with respect to the immediately preceding proviso, the time period set forth therein, (ii) such Material Defect
or Material Breach is not related to any Mortgage Loan’s not being a Qualified Mortgage, (iii) the Mortgage Loan Seller
has commenced and is diligently proceeding with the cure of such Material Defect or Material Breach within the Initial Resolution
Period and (iv) the Mortgage Loan Seller has delivered to the Master Servicer, the Special Servicer, the Asset Representations
Reviewer, the Certificate Administrator (who will promptly deliver a copy of such officer’s certificate to the 17g-5 Information
Provider), the Trustee, the Operating Advisor and, prior to the occurrence of a Consultation Termination Event, the Directing Holder,
an officer’s certificate that describes the reason the cure was not effected within the initial 90-day period, then the Mortgage
Loan Seller shall have an additional period equal to the applicable Resolution Extension Period to complete such cure or, failing
such cure, to repurchase the Mortgage Loan or substitute a Qualified Substitute Mortgage Loan. Notwithstanding the foregoing, if
a Mortgage Loan is not secured by a Mortgaged Property that is, in whole or in part, a hotel, restaurant


 



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(operated by a Borrower),
healthcare facility, nursing home, assisted living facility, theatre or fitness center (operated by a Borrower), then the failure
to deliver to the Custodian copies of the UCC financing statements with respect to such Mortgage Loan shall not be a Material Defect.


 


Notwithstanding the foregoing, if there
is a Material Breach or Material Defect with respect to one or more Mortgaged Properties with respect to a Mortgage Loan, the applicable
Mortgage Loan Seller will not be obligated to repurchase the Mortgage Loan and such Material Breach or Material Defect will be
considered Resolved if (i) the affected Mortgaged Property may be released pursuant to the terms of any partial release provisions
in the related Loan Documents (and such Mortgaged Property is, in fact, released), (ii) the remaining Mortgaged Property(ies)
satisfy the requirements, if any, set forth in the Loan Documents and the Mortgage Loan Seller provides an Opinion of Counsel to
the effect that such release would not cause an Adverse REMIC Event to occur and (iii) each applicable Rating Agency has provided
a Rating Agency Confirmation.


 


If a Mortgage Loan Seller, in connection
with a Material Defect or a Material Breach (or an allegation of a Material Defect or a Material Breach) pertaining to a Mortgage
Loan, makes a cash payment pursuant to an agreement or a settlement between the applicable Mortgage Loan Seller and the Special
Servicer on behalf of the Trust (and with the consent of the Directing Holder if no Control Termination Event has occurred and
is continuing) (each such payment, a “Loss of Value Payment”) with respect to such Mortgage Loan, the amount
of such Loss of Value Payment shall be deposited into the Loss of Value Reserve Fund to be applied in accordance with Section 3.06(e)
of this Agreement. In connection with any such determination with respect to any Performing Loan, the Master Servicer shall promptly
provide the Special Servicer, but in any event within the time frame and in the manner set forth in Section 3.23, with the
Servicing File and all information, documents (but excluding the original documents constituting the Mortgage File) and records
(including records stored electronically) relating to such Mortgage Loan or Serviced Whole Loan, as applicable, and reasonably
requested by the Special Servicer pursuant to Section 2.03 in order to permit the Special Servicer to calculate the
Loss of Value Payment. If such Loss of Value Payment is made, the Loss of Value Payment shall serve as the sole remedy available
to the Certificateholders and the Trustee on their behalf regarding any such Material Breach or Material Defect in lieu of any
obligation of the Mortgage Loan Seller to otherwise cure such Material Breach or Material Defect or repurchase or substitute for
the affected Mortgage Loan based on such Material Breach or Material Defect under any circumstances. This paragraph is intended
to apply only to a mutual agreement or settlement between the applicable Mortgage Loan Seller and the Trust, provided, that
(i) prior to any such agreement or settlement nothing in this paragraph shall preclude the Mortgage Loan Seller or the Trustee
from exercising any of its rights related to a Material Defect or a Material Breach in the manner and timing set forth in the related
Mortgage Loan Purchase Agreement or this Section 2.03 (excluding this paragraph) (including any right to cure, repurchase
or substitute for such Mortgage Loan), (ii) such Loss of Value Payment shall not be greater than the Purchase Price of the
affected Mortgage Loan; and (iii) a Material Defect or a Material Breach as a result of a Mortgage Loan not constituting a
Qualified Mortgage may not be cured by a Loss of Value Payment.


 


If any Breach pertains to a representation
or warranty to the effect that the related Mortgage Loan documents or any particular Mortgage Loan document requires the related


 



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Borrower to bear the costs and expenses associated with any particular action or matter under such Mortgage Loan document(s), then
the related Mortgage Loan Seller may cure such Breach within the applicable cure period (as the same may be extended) by reimbursing
the Trust Fund (by wire transfer of immediately available funds) the reasonable amount of any such costs and expenses incurred
by the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee or the Trust Fund that are incurred as
a result of such Breach and have not been reimbursed by the related Borrower; provided, however, that in the event
any such costs and expenses exceed $10,000, the related Mortgage Loan Seller shall have the option to either repurchase or substitute
for the related Mortgage Loan as provided above or pay such costs and expenses. Except as provided in the proviso to the immediately
preceding sentence, the related Mortgage Loan Seller shall remit the amount of such costs and expenses and upon its making such
remittance, the related Mortgage Loan Seller shall be deemed to have cured such Breach in all respects. To the extent any fees
or expenses that are the subject of a cure by the related Mortgage Loan Seller are subsequently obtained from the related Borrower,
the portion of the cure payment made by the related Mortgage Loan Seller equal to such fees or expenses obtained from the related
Borrower shall promptly be returned to the related Mortgage Loan Seller.


 


(f)           In connection with any repurchase
of or substitution for a Mortgage Loan contemplated by this Section 2.03, (A) the Custodian, the Master Servicer
(with respect to any Performing Loan) and the Special Servicer (with respect to any Specially Serviced Loan) shall each tender
to the applicable Mortgage Loan Seller all portions of the Mortgage File (in the case of the Custodian) and the Servicing File
(in the case of the Master Servicer and the Special Servicer, as applicable) and other documents pertaining to such Mortgage Loan
possessed by it, upon delivery (i) to each of the Master Servicer or the Special Servicer, as applicable, of a trust receipt
and (ii) to the Custodian by the Master Servicer or the Special Servicer, as applicable, of a Request for Release and an acknowledgement
by the Master Servicer or Special Servicer, as applicable, of its receipt of the Purchase Price or the Substitution Shortfall Amount
from the applicable Mortgage Loan Seller, (B) each document that constitutes a part of the Mortgage File that was endorsed
or assigned to the Trustee shall be endorsed or assigned without recourse in the form of endorsement or assignment provided to
the Custodian by the applicable Mortgage Loan Seller, as the case may be, to the applicable Mortgage Loan Seller as shall be necessary
to vest in the applicable Mortgage Loan Seller the legal and beneficial ownership of such Mortgage Loan to the extent such ownership
was transferred to the Trustee (provided, that the Master Servicer or Special Servicer, as applicable, shall use reasonable
efforts to cooperate in furnishing necessary information to the extent in its possession to the Mortgage Loan Seller in connection
with such Mortgage Loan Seller’s preparation of such endorsement or assignment) and (C) the Trustee, the Certificate
Administrator, the Master Servicer and the Special Servicer shall release, or cause a release of, any escrow payments and reserve
funds held by the Trustee, the Certificate Administrator, the Master Servicer and the Special Servicer, as applicable, or on the
Trustee’s, the Certificate Administrator’s, the Master Servicer’s and the Special Servicer’s, as applicable,
behalf, in respect of such Mortgage Loan to the applicable Mortgage Loan Seller.


 


(g)          The Enforcing Servicer shall,
for the benefit of the Certificateholders and the Trustee, use reasonable efforts to enforce the obligations of the applicable
Mortgage Loan Seller under Section 6 of the applicable Mortgage Loan Purchase Agreement. Such enforcement, including, without
limitation, the legal prosecution of claims, shall be carried out in accordance with the Servicing Standard. The Trustee, the
Certificate Administrator, the Master


 



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Servicer and
the Special Servicer, as the case may be, shall be reimbursed for the reasonable costs of such enforcement: first, pursuant
to Section 3.06 of this Agreement (with respect to the related Mortgage Loan), out of the related Purchase Price or
Substitution Shortfall Amount, as applicable, to the extent that such expenses are a specific component thereof; and second,
if at the conclusion of such enforcement action it is determined that the amounts described in clause first are insufficient,
then pursuant to Section 3.06 of this Agreement, out of general collections on the Mortgage Loans on deposit in the
Collection Account in each case with interest thereon at the Reimbursement Rate from the time such expense was incurred to, but
excluding, the date such expense was reimbursed. To the extent the applicable Mortgage Loan Seller prevails in such proceeding,
such Mortgage Loan Seller shall be entitled to reimbursement from the Trust for all necessary and reasonable costs and expenses
incurred in connection with such proceeding, including reasonable attorneys’ fees.


 


So
long as document exceptions are outstanding, on each anniversary of the Closing Date, the Custodian shall prepare and forward
to the Depositor, the Trustee, the Certificate Administrator, the Master Servicer, the Special Servicer, the Operating Advisor,
the Asset Representations Reviewer, the Controlling Class Representative (as identified to the Custodian by the Certificate Administrator)
and the applicable Mortgage Loan Seller, a document exception report setting forth the then current status of any Defects related
to the Mortgage Files pertaining to the Mortgage Loans sold by such Mortgage Loan Seller.


 


As
to any Qualified Substitute Mortgage Loan, the Master Servicer (with respect to Performing Loans) or the Special Servicer (with
respect to Specially Serviced Loans and REO Properties) shall direct the related Mortgage Loan Seller to deliver to the Custodian
for such Qualified Substitute Mortgage Loan (with a copy to the Master Servicer), the related Mortgage File with the related Mortgage
Note endorsed as required by Section 2.01(a)(i) hereof. Periodic Payments due with respect to Qualified Substitute
Mortgage Loans in or prior to the month of substitution shall not be part of the Trust Fund and, if received by the Master Servicer,
shall be remitted by the Master Servicer to the related Mortgage Loan Seller on the next succeeding Distribution Date. For the
month of repurchase or substitution, distributions to Certificateholders will include the Periodic Payment(s) due on the related
Removed Mortgage Loan, if and to the extent received by the Master Servicer or the Special Servicer on behalf of the Trust on
or prior to the related date of repurchase or substitution, as applicable, and such Mortgage Loan Seller shall be entitled to
retain all amounts received thereafter in respect of such Removed Mortgage Loan.


 


In
any month in which a Mortgage Loan Seller substitutes one or more Qualified Substitute Mortgage Loans for one or more Removed
Mortgage Loans, the Master Servicer will determine the applicable Substitution Shortfall Amount and promptly notify the Certificate
Administrator thereof. Promptly upon receipt of such notice, the Certificate Administrator shall direct such Mortgage Loan Seller
to deposit into the Collection Account and/or the applicable Serviced Whole Loan Collection Account, as applicable, cash equal
to such amount concurrently with the delivery of the Mortgage Files for such Qualified Substitute Mortgage Loans, without any
reimbursement thereof. The Certificate Administrator shall also direct such Mortgage Loan Seller to give written notice to the
Depositor, the Trustee and the Master Servicer of such deposit. The Certificate Administrator shall cause its Distribution Date
Statement to reflect the removal of each Removed Mortgage Loan and, if applicable, the substitution of the Qualified


 








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Substitute
Mortgage Loan. Upon any such substitution, the Qualified Substitute Mortgage Loans shall be subject to the terms of this Agreement
in all respects.


 


It
is understood and agreed that Section 6 of the Mortgage Loan Purchase Agreements provides the sole remedy available to the
Certificateholders and the Trustee on behalf of the Certificateholders respecting any Breach (including a Breach with respect
to a Mortgage Loan failing to constitute a Qualified Mortgage) or any Defect.


 


(h)          In
the event that any litigation is commenced which alleges facts which, in the judgment of the Depositor, could constitute a breach
of any of the Depositor’s representations and warranties relating to the Mortgage Loans, the Depositor hereby reserves the
right to conduct the defense of such litigation at its expense and shall not be required to obtain any consent from the Master
Servicer, the Special Servicer or the Directing Holder, unless such defense results in any liability of the Master Servicer, the
Special Servicer or the Directing Holder, as applicable.


 


(i)           If
for any reason a Mortgage Loan Seller fails to fulfill its obligations under the related Mortgage Loan Purchase Agreement with
respect to any Mortgage Loan, the Master Servicer (with respect to Performing Loans) and the Special Servicer (with respect to
Specially Serviced Loans) shall use reasonable efforts in enforcing any obligation of such Mortgage Loan Seller (including but
not limited to) to cure, repurchase or substitute for such Mortgage Loan under the terms of the related Mortgage Loan Purchase
Agreement all at the expense of such Mortgage Loan Seller.


 


(j)           [Reserved.]


 


(k)          (i) In
the event an Initial Requesting Certificateholder delivers a written request to the Depositor, the Master Servicer, the Special
Servicer, the Trustee, the Certificate Administrator or the Operating Advisor (solely in its capacity as Operating Advisor) that
a Mortgage Loan be repurchased by the applicable Mortgage Loan Seller alleging the existence of a Material Breach or Material
Defect with respect to such Mortgage Loan and setting forth the basis for such allegation (a “Certificateholder Repurchase
Request”), such party shall promptly forward that Certificateholder Repurchase Request to the Master Servicer and the
Special Servicer, and the Master Servicer or the Special Servicer, as applicable, shall promptly forward that Repurchase Request
to the related Mortgage Loan Seller and each other party to this Agreement and take the actions required under Section 2.03(e).
Subject to Section 2.03(1), the Enforcing Servicer shall be the Enforcing Party with respect to the Certificateholder
Repurchase Request. If a Resolution Failure occurs with respect to the Certificateholder Repurchase Request, the provisions described
below under Section 2.03(l) shall apply.


 


(ii)          In
the event that the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Certificate Administrator or the Operating
Advisor (solely in its capacity as Operating Advisor) has knowledge of a Material Breach or Material Defect with respect to a
Mortgage Loan, that party shall deliver prompt written notice of such Material Breach or Material Defect to the Master Servicer
and the Special Servicer, and the Master Servicer or the Special Servicer, as applicable, shall promptly forward to each other
party to this Agreement and the related Mortgage Loan Seller, identifying the applicable Mortgage Loan and setting forth the basis
for such allegation (a “PSA Party Repurchase


 






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Request”
and, each of a Certificateholder Repurchase Request or a PSA Party Repurchase Request, a “Repurchase Request”).
Subject to Section 2.03(l), the Enforcing Servicer shall be the Enforcing Party with respect to the PSA Party Repurchase
Request. If a Resolution Failure occurs with respect to the PSA Party Repurchase Request, the provisions described below under
Section 2.03(l) shall apply.


 


(iii)          In
the event the Repurchase Request is not Resolved within 180 days after the Mortgage Loan Seller receives the Repurchase Request
(a “Resolution Failure”) shall be deemed to have occurred. Receipt of the Repurchase Request shall be
deemed to occur two (2) Business Days after the Repurchase Request is sent to the related Mortgage Loan Seller.


 


(l)
           (i) After a Resolution Failure occurs with respect to a Repurchase Request regarding a Mortgage Loan (whether the
Repurchase Request was initiated by an Initial Requesting Certificateholder or by a party to this Agreement), the Enforcing
Servicer shall send a notice (a “Proposed Course of Action Notice”) to the Initial Requesting
Certificateholder, if any, to the address specified in the Initial Requesting Certificateholder’s Repurchase Request,
and to the Certificate Administrator, who shall make such notice available to all other Certificateholders and Certificate
Owners (by posting such notice on the Certificate Administrator’s Website) indicating the Enforcing Servicer’s
intended course of action with respect to the Repurchase Request (the “Proposed Course of Action”). If the
Master Servicer is the Enforcing Servicer, the Master Servicer may (but shall not be obligated to) consult with the Special
Servicer and (for so long as no Consultation Termination Event has occurred) the Directing Holder regarding any Proposed
Course of Action. Such notice shall include (a) a request to Certificateholders to indicate their agreement with or dissent
from such Proposed Course of Action by clearly marking “agree” or “disagree” to the Proposed Course
of Action on such notice within 30 days of the date of such notice and a disclaimer that responses received after such 30-day
period will not be taken into consideration, (b) a statement that in the event any Certificateholder disagrees with
the Proposed Course of Action, the Enforcing Servicer shall be compelled to follow the course of action agreed to and/or
proposed by the majority of the responding Certificateholders that involves referring the matter to mediation or arbitration,
as the case may be, (c) a statement that responding Certificateholders will be required to certify their holdings in
connection with such response, (d) a statement that only responses clearly marked “agree” or
“disagree” with such Proposed Course of Action will be taken into consideration and (e) instructions for
responding Certificateholders to send their responses to the applicable Enforcing Servicer and the Certificate Administrator.
The Certificate Administrator shall within three (3) Business Days after the expiration of the 30-day response period,
tabulate the responses received from the Certificateholders and share the results with the Enforcing Servicer. The
Certificate Administrator shall only count responses timely received and clearly indicating agreement or dissent with the
related Proposed Course of Action and additional verbiage or qualifying language shall not be taken into consideration for
purposes of determining whether the related Certificateholder agrees or disagrees with the Proposed Course of Action. The
Certificate Administrator shall be under no obligation to answer any questions from Certificateholders regarding such
Proposed Course of Action. For the avoidance of doubt, the Certificate Administrator’s obligations in connection with
this Section 2.03(l) shall be limited solely to tabulating Certificateholder responses of “agree” or
“disagree” to the Proposed Course of Action, and such obligation shall not be construed to impose any enforcement
obligation on


 



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the Certificate
Administrator. The Enforcing Servicer may conclusively rely (without investigation) on the Certificate Administrator’s tabulation
of the majority of the responding Certificateholders. If (a) the Enforcing Servicer’s intended course of action with respect
to the Repurchase Request does not involve pursuing further action to exercise rights against the applicable Mortgage Loan Seller
with respect to the Repurchase Request and the Initial Requesting Certificateholder, if any, or any other Certificateholder or
Certificate Owner wishes to exercise its right to refer the matter to mediation (including nonbinding arbitration) or arbitration,
or (b) the Enforcing Servicer’s intended course of action is to pursue further action to exercise rights against the applicable
Mortgage Loan Seller with respect to the Repurchase Request but the Initial Requesting Certificateholder, if any, or any other
Certificateholder or Certificate Owner does not agree with the dispute resolution method selected by the Enforcing Servicer, then
the Initial Requesting Certificateholder, if any, or such other Certificateholder or Certificate Owner may deliver to the Enforcing
Servicer a written notice (a “Preliminary Dispute Resolution Election Notice”) within 30 days from the date
the Proposed Course of Action Notice is posted on the Certificate Administrator’s Website (the “Dispute Resolution
Cut-off Date”) indicating its intent to exercise its right to refer the matter to either mediation or arbitration. In
the event any Certificateholder or Certificate Owner delivers a Preliminary Dispute Resolution Election Notice, and the Enforcing
Servicer has also received responses from other Certificateholders or Certificate Owners supporting the Enforcing Servicer’s
initial Proposed Course of Action, such responses shall be considered Preliminary Dispute Resolution Election Notices supporting
the Proposed Course of Action for purposes of determining the course of action proposed by the majority of Certificateholders.


 


(ii)

         If neither the Initial Requesting Certificateholder, if any, nor any other Certificateholder or Certificate Owner
delivers a Preliminary Dispute Resolution Election Notice prior to the Dispute Resolution Cut-off Date, no Certificateholder
or Certificate Owner shall have the right to refer the Repurchase Request to mediation or arbitration, and the Enforcing
Servicer shall be the sole party entitled to determine a course of action, including but not limited to, enforcing the
Trust’s rights against the related Mortgage Loan Seller, subject to any consent or consultation rights of the Directing
Holder pursuant to Section 6.08.


 


(iii)

        Promptly and in any event within 10 Business Days following receipt of a Preliminary Dispute Resolution Election Notice
from (a) the Initial Requesting Certificateholder, if any, or (b) any other Certificateholder or Certificate Owner (each of
clauses (a) and (b), a “Requesting Certificateholder”), the Enforcing Servicer will be required to consult
with each Requesting Certificateholder regarding such Requesting Certificateholder’s intention to elect either
mediation (including nonbinding arbitration) or arbitration as the dispute resolution method with respect to the Repurchase
Request (the “Dispute Resolution Consultation”) so that such Requesting Certificateholder may consider the
views of the Enforcing Servicer as to the claims underlying the Repurchase Request and possible dispute resolution methods,
such discussions to occur and be completed no later than 10 Business Days following the Dispute Resolution Cut-off Date. The
Enforcing Servicer shall be entitled to establish procedures the Enforcing Servicer deems to be in accordance with the
Servicing Standard relating to the timing and extent of such consultations. No later than 5 Business Days after completion of
the Dispute Resolution Consultation, a Requesting Certificateholder may provide a final notice to the


 






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Enforcing
Servicer indicating its decision to exercise its right to refer the matter to either mediation or arbitration (“Final
Dispute Resolution Election Notice”).


 


(iv)

        If, following the Dispute Resolution Consultation, no Requesting Certificateholder timely delivers a Final Dispute
Resolution Election Notice to the Enforcing Servicer, then the Enforcing Servicer will continue to act as the Enforcing Party
and will remain obligated under this Agreement to determine a course of action, including but not limited to, enforcing the
rights of the Trust with respect to the Repurchase Request and no Certificateholder or Certificate Owner shall have any
further right to elect to refer the matter to mediation or arbitration.


 


(v)


         If a Requesting Certificateholder timely delivers a Final Dispute Resolution Election Notice to the Enforcing Servicer,
then such Requesting Certificateholder shall become the Enforcing Party and must promptly submit the matter to mediation
(including nonbinding arbitration) or arbitration. If there is more than one Requesting Certificateholder that timely
delivers a Final Dispute Resolution Election Notice, then such Requesting Certificateholders will collectively become the
Enforcing Party, and the holder or holders of a majority of the Voting Rights among such Requesting Certificateholders will
be entitled to make all decisions relating to such mediation or arbitration. If, however, no Requesting Certificateholder
commences arbitration or mediation pursuant to the terms of this Agreement within 30 days after delivery of its Final Dispute
Resolution Election Notice to the Enforcing Servicer, then (i) the rights of a Requesting Certificateholder to act as the
Enforcing Party shall terminate and no Certificateholder or Certificate Owner shall have any further right to elect to refer
the matter to mediation or arbitration, (ii) if the Proposed Course of Action Notice indicated that the Enforcing Servicer
shall take no further action with respect to the Repurchase Request, then the related Material Breach or Material Defect
shall be deemed waived for all purposes under this Agreement and the related Mortgage Loan Purchase Agreement; provided, however,
that such Material Breach or Material Defect shall not be deemed waived with respect a Requesting Certificateholder, any
other Certificateholder or Certificate Owner or the Enforcing Servicer to the extent there is a material change in the facts
and circumstances known to such party at the time when the Proposed Course of Action Notice is posted on the Certificate
Administrator’s Website and (iii) if the Proposed Course of Action Notice had indicated a course of action other than
the course of action under clause (ii), then the Enforcing Servicer shall again become the Enforcing Party and, as such,
shall be the sole party entitled to determine a course of action including, but not limited to, enforcing the Trust’s
rights against the related Mortgage Loan Seller.


 


(vi)


        Notwithstanding the foregoing, the dispute resolution provisions described above under this Section 2.03(l) will
not apply, and the Enforcing Servicer shall remain the Enforcing Party, if the Enforcing Servicer has commenced litigation
with respect to the Repurchase Request, or determines in accordance with the Servicing Standard that it is in the best
interest of Certificateholders to commence litigation with respect to the Repurchase Request to avoid the running of any
applicable statute of limitations.


 


(vii)


       In the event a Requesting Certificateholder becomes the Enforcing Party, the Enforcing Servicer, on behalf of the Trust,
shall remain a party to any proceedings


 






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against the related Mortgage Loan Seller; provided that the degree and extent to which
the Enforcing Servicer actively prepares for and participates in such proceeding shall be determined by such Enforcing Servicer
in consultation with the Directing Holder, provided that a Consultation Termination Event has not occurred and is continuing,
and in accordance with the Servicing Standard. For the avoidance of doubt, the Depositor, the Mortgage Loan Sellers and any of
their respective Affiliates shall not be entitled to be an Initial Requesting Certificateholder or a Requesting Certificateholder.


 


(viii)


      The Requesting Certificateholder is entitled to elect either mediation or arbitration in its sole discretion; however,
the Requesting Certificateholder may not elect to then utilize the alternative method in the event that the initial method is
unsuccessful.


 


(ix)


         If (i) a Repurchase Request is made with respect to any Mortgage Loan based on any particular alleged Material Breach or
Material Defect, (ii) a Resolution Failure is deemed to occur with respect to such Repurchase Request, and (iii) if either
(A) a mediation or arbitration is undertaken with respect to such Repurchase Request or (B) the Certificateholders and
Certificate Owners cease to have a right to refer such Repurchase Request to mediation or arbitration, in either case in
accordance with the provisions of this Agreement, then no Certificateholder or Certificate Owner may make any subsequent
Repurchase Request with respect to such Mortgage Loan based on the same alleged Material Breach or Material Defect unless
there is a material change in the facts and circumstances known to such party.


 


(x)


          The Depositor, the Mortgage Loan Seller and any of their respective Affiliates shall not be entitled to be an Initial
Requesting Certificateholder or a Requesting Certificateholder.


 


(m)


         If the Enforcing Party selects mediation (including nonbinding arbitration), the following provisions shall apply:


 


(i)


          The mediation shall be administered by a nationally recognized mediation services provider selected by the related
Mortgage Loan Seller in accordance with published mediation procedures (the “Mediation Rules”) promulgated
by a nationally recognized mediation services provider selected by the Mortgage Loan Seller (such provider, the
“Meditation Services Provider”).


 


(ii)


         The mediator shall be impartial, an attorney admitted to practice in the State of New York and have at least 15 years of
experience in commercial litigation, and commercial real estate finance or commercial mortgage-backed securitization matters
or other complex commercial transactions, and who will be appointed from a list of neutrals maintained by the Mediation
Services Provider. Upon being supplied a list of at least ten potential qualified mediators by the Mediation Services
Provider each party will have the right to exercise two peremptory challenges within 14 days and to rank the remaining
potential mediators in order of preference. The Mediation Services Provider shall select the mediator from the remaining
attorneys on the list respecting the preference choices of the parties to the extent possible.


 



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(iii)


         The parties shall use commercially reasonable efforts to conduct an organizational conference to begin the mediation
within 10 Business Days of the selection of the mediator and to conclude the mediation within 60 days thereafter.


 


(iv)


        The expenses of any mediation shall be allocated among the parties to the mediation, including, if applicable, between
the Enforcing Party and the Enforcing Servicer, as mutually agreed by the parties as part of the mediation.


 


(n)


          If the Enforcing Party selects third-party arbitration, the following provisions will apply:


 


(i)


          The arbitration shall be administered by a nationally recognized arbitration services provider selected by the related
Mortgage Loan Seller in accordance with published arbitration procedures (the “Arbitration Rules”)
promulgated by a nationally recognized arbitration services provider selected by the Mortgage Loan Seller (such provider, the
“Arbitration Services Provider”).


 


(ii)


          The arbitrator shall be impartial, an attorney admitted to practice in the State of New York and have at least 15 years
of experience in commercial litigation and commercial real estate finance or commercial mortgage-backed securitization
matters or other complex commercial transactions, and who will be appointed from a list of neutrals maintained by the
Arbitration Services Provider. Upon being supplied a list of at least ten potential arbitrators by the Arbitration Services
Provider each party will have the right to exercise two peremptory challenges within 14 days and to rank the remaining
potential arbitrators in order of preference. The Arbitration Services Provider will select the arbitrator from the remaining
attorneys on the list respecting the preference choices of the parties to the extent possible.


 


(iii)


         Prior to accepting an appointment, the arbitrator must promptly disclose any circumstances likely to create a reasonable
inference of bias or conflict of interest or likely to preclude completion of the hearings within the prescribed time
schedule.


 


(iv)


        After consulting with the parties at an organizational conference held not later than 10 Business Days after its
appointment, the arbitrator shall devise procedures and deadlines for the arbitration, to the extent not already agreed to by
the parties, with the goal of expediting the proceeding and completing the arbitration within 120 days. The arbitrator shall
have the authority to schedule, hear, and determine any and all motions, including dispositive and discovery motions, in
accordance with the Federal Rules of Civil Procedure for non-jury matters (the “Rules”) (including summary
judgment and other prehearing and post hearing motions), and will do so by reasoned decision on the motion of any party to
the arbitration.


 


(v)


         Notwithstanding whatever other discovery may be available under the Rules, unless otherwise agreed by the parties, each
party to the arbitration will be presumptively limited to the following discovery in the arbitration: (A) the parties
shall reasonably and in good faith voluntarily produce to all other parties all documents upon which they intend to rely and
all documents they reasonably and in good faith believe to be relevant to the claims or defenses asserted by any of the
parties, (B) party witness


 



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depositions (excluding Rule 30b-6 witnesses), and (C) expert witness depositions, provided,
that the arbitrator shall have the ability to grant the parties, or either of them, additional discovery to the extent that
the arbitrator determines good cause is shown that such additional discovery is reasonable and necessary.


 


(vi)


        The
arbitrator shall make its final determination no later than 30 days after the conclusion of the hearings and submission of any
post-hearing submissions. The arbitrator shall resolve the dispute in accordance with the terms of the related Mortgage Loan Purchase
Agreement and this Agreement, and may not modify or change those agreements in any way or award remedies not consistent with those
agreements. The arbitrator will not have the power to award punitive damages or consequential damages in any arbitration conducted
by them. Interest on any monetary award shall bear interest from the date of the Election Notice at the Prime Rate. In its final
determination, the arbitrator shall determine and award the costs of the arbitration (including the fees of the arbitrator, cost
of any record or transcript of the arbitration, and administrative fees) and shall award reasonable attorneys’ fees to the
parties to the arbitration as determined by the arbitrator in its reasonable discretion. The determination of the arbitrator shall
be by a reasoned decision in writing and counterpart copies will be promptly delivered to the parties. The final determination
of the arbitrator shall be final and non-appealable, except for actions to confirm or vacate the determination permitted under
federal or state law, and may be enforced in any court of competent jurisdiction.


 


(vii)


       By
selecting arbitration, the selecting party is giving up the right to sue in court, including the right to a trial by jury.


 


(viii)


      No
person may bring a putative or certificated class action to arbitration.


 


(o)          The
following provisions will apply to both mediation and third-party arbitration:


 


(i)


           Any
mediation or arbitration will be held in New York, New York unless another location is agreed by all parties;


 


(ii)


          If
the dispute involves a matter that cannot effectively be remedied by the payment of damages, or if there be any dispute relating
to arbitration or the arbitrators that cannot be resolved promptly by the arbitrators or the Arbitration Services Provider, then
any party in such instance may during the pendency of the arbitration proceedings seek temporary equitable remedies, pending the
final decision of the arbitration panel, solely by application in the Southern District if such court shall have subject matter
jurisdiction, or if the Southern District has no jurisdiction, then it the Supreme Court of the State of New York for the County
of New York. The arbitration proceedings shall not be stayed unless so ordered by the court.


 


(iii)


         The
details and/or existence of any Repurchase Request, any informal meetings, mediations or arbitration proceedings conducted under
this Section 2.03, including all offers, promises, conduct and statements, whether oral or written, made in the course
of the parties’ attempt to informally resolve any Repurchase Request, will be confidential, privileged and inadmissible
for any purpose, including impeachment, in any


 






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mediation, arbitration or litigation, or other proceeding (including any proceeding
under this Section 2.03). Such information will be kept strictly confidential and will not be disclosed or shared with
any third party (other than a party’s attorneys, experts, accountants and other agents and representatives, as reasonably
required in connection with any resolution procedure under this Section 2.03), except as otherwise required by law, regulatory
requirement or court order. If any party to a resolution procedure receives a subpoena or other request for information from a
third party (other than a governmental regulatory body) for such confidential information, the recipient will promptly notify
the other party to the resolution procedure and will provide the other party with a reasonable opportunity to object to the production
of its confidential information.


 


(iv)


        In
the event a Requesting Certificateholder is the Enforcing Party, the agreement with the arbitrator or mediator, as the case may
be, shall be required contain an acknowledgment that the Trust, or the Enforcing Servicer on its behalf, shall be a party to any
arbitration or mediation proceedings solely for the purpose of being the beneficiary of any award in favor of the Enforcing Party;
provided that the degree and extent to which the Enforcing Servicer actively prepares for and participates in such proceedings
shall be determined by such Enforcing Servicer in consultation with the Directing Holder, provided that a Consultation
Termination Event has not occurred and is continuing, and in accordance with the Servicing Standard. All amounts recovered by
the Enforcing Party shall be paid to the Trust, or the Enforcing Servicer on its behalf, and deposited in the Collection Account.
The agreement with the arbitrator or mediation, as the case may be, will provide that in the event a Requesting Certificateholder
is allocated any related costs and expenses pursuant to the terms of the arbitrator’s decision or the agreement reached
in mediation, neither the Trust nor the Enforcing Servicer acting on its behalf shall be responsible for any such costs and expenses
allocated to the Requesting Certificateholder.


 


(v)


         In
the event a Requesting Certificateholder is the Enforcing Party, the Requesting Certificateholder shall be required to pay any
expenses allocated to the Enforcing Party in the arbitration proceedings or any expenses that the Enforcing Party agrees to bear
in the mediation proceedings.


 


(vi)


        The
Trust (or the Trustee or the Enforcing Party acting on its behalf), the Depositor or any Mortgage Loan Seller shall be permitted
to redact any personally identifiable customer information included in any information provided for purposes of any mediation
or arbitration. Each party to the proceedings shall be required to agree to keep confidential the details related to the Repurchase
Request and the dispute resolution identified in connection with such procedures; provided, however, that the Certificateholders
shall be permitted to communicate prior to the commencement of any such proceedings to the extent provided in Section 5.06.


 


(vii)


       For
the avoidance of doubt, in no event shall the exercise of any right of a Requesting Certificateholder to refer a Repurchase Request
to mediation or arbitration or participation in such mediation or arbitration affect in any manner the ability of the Enforcing
Servicer to perform its obligations with respect to a Mortgage Loan or the exercise of any rights of a Directing Holder (including
without limitation, a liquidation,


 






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foreclosure,
negotiation of a loan modification or workout, acceptance of a discounted pay off or deed in lieu, or bankruptcy or other litigation).


 


(viii)


      For
the avoidance of doubt, any expenses required to be borne by or allocated to the Enforcing Servicer in mediation or arbitration
or related responsibilities under this Agreement shall be reimbursable as Additional Trust Fund Expenses.


 


Section 2.04
    Representations, Warranties and Covenants of
the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Operating Advisor and the Asset Representations
Reviewer. (a) The Master Servicer, as Master Servicer,
hereby represents and warrants with respect to itself to the Trustee, for its own benefit and the benefit of the Certificateholders,
and to the Depositor, the Certificate Administrator, the Special Servicer, the Asset Representations Reviewer and the Operating
Advisor and the Serviced Companion Loan Noteholders, as of the Closing Date, that:


 


(i)


          The
Master Servicer is a national banking association, duly organized, validly existing and in good standing under the laws of the
United States of America, and the Master Servicer is in compliance with the laws of each state (within the United States of America)
in which any related Mortgaged Property is located to the extent necessary to perform its obligations under this Agreement;


 


(ii)


          The
execution and delivery of this Agreement by the Master Servicer, and the performance and compliance with the terms of this Agreement
by the Master Servicer, do not (A) violate the Master Servicer’s organizational documents, (B) constitute a default
(or an event which, with notice or lapse of time, or both, would constitute a default) under, or result in the breach of, any
material agreement or other material instrument to which it is a party or which is applicable to it or any of its assets, or (C) violate
any law, rule, regulation, order, judgment or decree to which the Master Servicer or its property is subject, which, in the case
of either (B) or (C), is likely to materially and adversely affect either the ability of the Master Servicer to perform its
obligations under this Agreement or its financial condition;


 


(iii)


        The
Master Servicer has the full corporate power and authority to enter into and consummate all transactions to be performed by it
contemplated by this Agreement, has duly authorized the execution, delivery and performance by it of this Agreement, and has duly
executed and delivered this Agreement;


 


(iv)


        This
Agreement, assuming due authorization, execution and delivery by the Trustee, the Paying Agent, the Certificate Administrator,
the Operating Advisor, the Asset Representations Reviewer, the Special Servicer and the Depositor, constitutes a valid, legal
and binding obligation of the Master Servicer, enforceable against the Master Servicer in accordance with the terms hereof, subject
to applicable bankruptcy, insolvency, reorganization, receivership, moratorium and other laws affecting the enforcement of creditors’
rights generally, and general principles of equity, regardless of whether such enforcement is considered in a proceeding in equity
or at law;


 


(v)


         The
Master Servicer is not in default with respect to any law, any order or decree of any court, or any order, regulation or demand
of any federal, state, municipal or


 






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governmental agency, which default, in the Master Servicer’s reasonable judgment is
likely to materially and adversely affect the financial condition or operations of the Master Servicer or its properties taken
as a whole or its ability to perform its duties and obligations hereunder;


 


(vi)


        No
litigation is pending or, to the best of the Master Servicer’s knowledge, threatened against the Master Servicer which would
prohibit the Master Servicer from entering into this Agreement or, in the Master Servicer’s good faith and reasonable judgment
is likely to materially and adversely affect either the ability of the Master Servicer to perform its obligations under this Agreement
or the financial condition of the Master Servicer;


 


(vii)


       No
consent, approval, authorization or order of any court or governmental agency or body is required for the execution, delivery
and performance by the Master Servicer of, or compliance by the Master Servicer with, this Agreement or the consummation of the
transactions of the Master Servicer contemplated by this Agreement, except for any consent, approval, authorization or order which
has been obtained, or which, if not obtained would not have a materially adverse effect on the ability of the Master Servicer
to perform its obligations hereunder;


 


(viii)


      Each
officer and employee of the Master Servicer that has responsibilities concerning the servicing and administration of Mortgage
Loans or Serviced Whole Loans is covered by errors and omissions insurance and the fidelity bond in the amounts and with the coverage
required by this Agreement or the Master Servicer self-insures for such risks in compliance with the requirements of Section
3.08(d) of this Agreement.


 


(b)


         The
Special Servicer, as Special Servicer, hereby represents and warrants to and covenants with the Trustee, for its own benefit and
the benefit of the Certificateholders, and to the Depositor, the Certificate Administrator, the Master Servicer, the Operating
Advisor, the Asset Representations Reviewer and the Serviced Companion Loan Noteholders, as of the Closing Date, that:


 


(i)


           The
Special Servicer is a national banking association, duly organized, validly existing and in good standing under the laws of the
United States of America, and the Special Servicer is in compliance with the laws of each state (within the United States of America) in
which any related Mortgaged Property is located to the extent necessary to perform its obligations under this Agreement;


 


(ii)


          The
execution and delivery of this Agreement by the Special Servicer, and the performance and compliance with the terms of this Agreement
by the Special Servicer, do not (A) violate the Special Servicer’s organizational documents or (B) constitute
a default (or an event which, with notice or lapse of time, or both, would constitute a default) under, or result in the breach
of, any material agreement or other material instrument to which it is a party or which is applicable to it or any of its assets,
or (C) violate any law, rule, regulation, order, judgment or decree to which the Special Servicer or its property is subject,
which, in the case of either (B) or (C), is likely to materially and adversely affect either the ability of the Special Servicer
to perform its obligations under this Agreement or its financial condition;


 



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(iii)


        The
Special Servicer has the full corporate power and authority to enter into and consummate all transactions to be performed by it
contemplated by this Agreement, has duly authorized the execution, delivery and performance by it of this Agreement, and has duly
executed and delivered this Agreement;


 


(iv)         This
Agreement, assuming due authorization, execution and delivery by the Trustee, the Operating Advisor, the Asset Representations
Reviewer, the Certificate Administrator, the Master Servicer and the Depositor, constitutes a valid, legal and binding obligation
of the Special Servicer, enforceable against the Special Servicer in accordance with the terms hereof, subject to applicable bankruptcy,
insolvency, reorganization, receivership, moratorium and other laws affecting the enforcement of creditors’ rights generally,
and general principles of equity, regardless of whether such enforcement is considered in a proceeding in equity or at law;


 


(v)
         The Special Servicer is not in default with respect to any law, any
order or decree of any court, or any order, regulation or demand of any federal, state, municipal or governmental agency,
which default, in the Special Servicer’s reasonable judgment is likely to materially and adversely affect the financial
condition or operations of the Special Servicer or its properties taken as a whole or its ability to perform its duties and
obligations hereunder;


 


(vi)
        No
litigation is pending or, to the best of the Special Servicer’s knowledge, threatened against the Special Servicer which
would prohibit the Special Servicer from entering into this Agreement or, in the Special Servicer’s good faith and reasonable
judgment is likely to materially and adversely affect either the ability of the Special Servicer to perform its obligations under
this Agreement or the financial condition of the Special Servicer;


 


(vii)
       No
consent, approval, authorization or order of any court or governmental agency or body is required for the execution, delivery
and performance by the Special Servicer of, or compliance by the Special Servicer with, this Agreement or the consummation of
the transactions of the Special Servicer contemplated by this Agreement, except for any consent, approval, authorization or order
which has been obtained, or which, if not obtained would not have a materially adverse effect on the ability of the Special Servicer
to perform its obligations hereunder; and


 


(viii)
      Each
officer and employee of the Special Servicer that has responsibilities concerning the servicing and administration of Mortgage
Loans or Serviced Whole Loans is covered by errors and omissions insurance and the fidelity bond in the amounts and with the coverage
required by this Agreement or the Special Servicer self-insures for such risks in compliance with the requirements of Section
3.08(d) of this Agreement.


 


(c)
         It
is understood and agreed that the representations and warranties set forth in this Section shall survive delivery of the
respective Mortgage Files to the Custodian on behalf of the Trustee until the termination of this Agreement, and shall inure to
the benefit of the Trustee, the Depositor, the Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer,
the Serviced Companion Loan Noteholders and the Master Servicer or Special Servicer, as the case may be. Upon discovery by the
Depositor, the Certificate


 






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Administrator, the Master Servicer, the Special Servicer, the Operating Advisor, the Asset Representations
Reviewer or a Responsible Officer of the Trustee (or upon written notice thereof from any Certificateholder) of a breach of any
of the representations and warranties set forth in this Section which materially and adversely affects the interests of the
Certificateholders, the Certificate Administrator, the Master Servicer, Special Servicer, the Operating Advisor, the Asset Representations
Reviewer, the Serviced Companion Loan Noteholders or the Trustee in any Mortgage Loan, the party discovering such breach shall
give prompt written notice to the other parties hereto, the Serviced Companion Loan Noteholders and the Mortgage Loan Sellers.


 


(d)
          The
Trustee hereby represents and warrants to the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor, the
Asset Representations Reviewer, the Certificate Administrator and the Serviced Companion Loan Noteholders as of the Closing Date,
that:


 


(i)
           The
Trustee is a national banking association, duly organized, validly existing and in good standing under the laws of the United
States of America and has full power, authority and legal right to own its properties and conduct its business as presently conducted
and to execute, deliver and perform the terms of this Agreement.


 


(ii)
          This
Agreement has been duly authorized, executed and delivered by the Trustee and, assuming due authorization, execution and delivery
by the other parties hereto, constitutes a legal, valid and binding instrument enforceable against the Trustee in accordance with
its terms, except as such enforcement may be limited by bankruptcy, insolvency, reorganization or other similar laws affecting
the enforcement of creditors’ rights in general and by general equity principles (regardless of whether such enforcement
is considered in a proceeding in equity or at law).


 


(iii)
         Neither
the execution and delivery of this Agreement by the Trustee nor the consummation by the Trustee of the transactions herein contemplated
to be performed by the Trustee, nor compliance by the Trustee with the provisions hereof, will conflict with or result in a breach
of, or constitute a default under, any of the provisions of any applicable law (subject to the appointment in accordance with
such applicable law of any co-Trustee or separate Trustee required pursuant to this Agreement), governmental rule, regulation,
judgment, decree or order binding on the Trustee or its properties or the organizational documents of the Trustee or the terms
of any material agreement, instrument or indenture to which the Trustee is a party or by which it is bound which, in the Trustee’s
good faith and reasonable judgment, is likely to affect materially and adversely the ability of the Trustee to perform its obligations
under this Agreement.


 


(iv)
         The
Trustee is not in violation of, and the execution and delivery of this Agreement by the Trustee and its performance and compliance
with the terms of this Agreement will not constitute a violation with respect to, any order or decree of any court binding on
the Trustee or any law, order or regulation of any federal, state, municipal or governmental agency having jurisdiction, or result
in the creation or imposition of any lien, charge or encumbrance which, in any such event, would have consequences that would
materially and adversely affect the condition (financial or otherwise) or operation of the Trustee or its properties.


 



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(v)
         No
consent, approval, authorization or order of, or registration or filing with, or notice to any court or governmental agency or
body, is required for the execution, delivery and performance by the Trustee of or compliance by the Trustee with this Agreement,
or if required, such approval has been obtained prior to the Cut-off Date or which, if not obtained, would have a materially adverse
effect on the Trustee’s ability to perform its obligations hereunder.


 


(vi)
         To
the best of the Trustee’s knowledge, no litigation is pending or threatened against the Trustee which would prohibit its
entering into or materially and adversely affect its ability to perform its obligations under this Agreement or the Indemnification
Agreement, dated as of the Pricing Date, among the Trustee, the Depositor and the Underwriters.


 


(e)
          The
Certificate Administrator hereby represents and warrants to the Depositor, the Trustee, the Master Servicer, the Special Servicer,
the Operating Advisor, the Asset Representations Reviewer and the Serviced Companion Loan Noteholders, as of the Closing Date,
that:


 


(i)
           The
Certificate Administrator is a national banking association, duly organized, validly existing and in good standing under the laws
of the United States of America and has full power, authority and legal right to own its properties and conduct its business as
presently conducted and to execute, deliver and perform the terms of this Agreement.


 


(ii)
          This
Agreement has been duly authorized, executed and delivered by the Certificate Administrator and, assuming due authorization, execution
and delivery by the other parties hereto, constitutes a legal, valid and binding instrument enforceable against the Certificate
Administrator in accordance with its terms, except as such enforcement may be limited by bankruptcy, insolvency, reorganization
or other similar laws affecting the enforcement of creditors’ rights in general and by general equity principles (regardless
of whether such enforcement is considered in a proceeding in equity or at law).


 


(iii)
         Neither
the execution and delivery of this Agreement by the Certificate Administrator nor the consummation by the Certificate Administrator
of the transactions herein contemplated to be performed by the Certificate Administrator, nor compliance by the Certificate Administrator
with the provisions hereof, will conflict with or result in a breach of, or constitute a default under, any of the provisions
of any applicable law, governmental rule, regulation, judgment, decree or order binding on the Certificate Administrator or its
properties or the organizational documents of the Certificate Administrator or the terms of any material agreement, instrument
or indenture to which the Certificate Administrator is a party or by which it is bound which, in the Certificate Administrator’s
good faith and reasonable judgment, is likely to affect materially and adversely the ability of the Certificate Administrator
to perform its obligations under this Agreement.


 


(iv)
         The Certificate Administrator is not in violation of,
and the execution and delivery of this Agreement by the Certificate Administrator and its performance and compliance with the
terms of this Agreement will not constitute a violation with respect


 






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to, any order or decree of any court binding on the
Certificate Administrator or any law, order or regulation of any federal, state, municipal or governmental agency having
jurisdiction, or result in the creation or imposition of any lien, charge or encumbrance which, in any such event, would have
consequences that are likely to affect materially and adversely the ability of the Certificate Administrator to perform its
obligations under this Agreement.


 


(v)           No
consent, approval, authorization or order of, or registration or filing with, or notice to any court or governmental agency or
body, is required for the execution, delivery and performance by the Certificate Administrator of or compliance by the Certificate
Administrator with this Agreement, or if required, such approval has been obtained prior to the Cut-off Date or which, if not
obtained, would have a materially adverse effect on the Certificate Administrator’s ability to perform its obligations hereunder.


 


(vi)          To
the best of the Certificate Administrator’s knowledge, no litigation is pending or threatened against the Certificate Administrator
which would prohibit its entering into or materially and adversely affect its ability to perform its obligations under this Agreement
or the Indemnification Agreement, dated as of the Pricing Date, between the Certificate Administrator, the Depositor and the Underwriters.


 


(f)            The
Operating Advisor hereby represents and warrants to the Trustee, the Depositor, the Certificate Administrator, the Master Servicer,
the Special Servicer, the Asset Representations Reviewer and the Serviced Companion Loan Noteholders, as of the Closing Date,
that:


 


(i)            The
Operating Advisor is a limited liability company, duly organized, validly existing and in good standing under the laws of the
State of New York and has full power, authority and legal right to own its properties and conduct its business as presently conducted
and to execute, deliver and perform the terms of this Agreement.


 


(ii)           The
execution and delivery of this Agreement by the Operating Advisor, and the performance and compliance with the terms of this Agreement
by the Operating Advisor, do not (A) violate the Operating Advisor’s organizational documents or (B) constitute
a default (or an event which, with notice or lapse of time, or both, would constitute a default) under, or result in the breach
of, any material agreement or other material instrument to which it is a party or which is applicable to it or any of its assets,
or (C) violate any law, rule, regulation, order, judgment or decree to which the Operating Advisor or its property is subject,
which, in the case of either (B) or (C), is likely to materially and adversely affect either the ability of the Operating
Advisor to perform its obligations under this Agreement or its financial condition;


 


(iii)          The
Operating Advisor has the full limited liability company power and authority to enter into and consummate all transactions to
be performed by it contemplated by this Agreement, has duly authorized the execution, delivery and performance by it of this Agreement,
and has duly executed and delivered this Agreement;


 






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(iv)          This
Agreement, assuming due authorization, execution and delivery by the Trustee, the Certificate Administrator, the Master Servicer,
the Special Servicer, and the Depositor, constitutes a valid, legal and binding obligation of the Operating Advisor, enforceable
against the Operating Advisor in accordance with the terms hereof, subject to applicable bankruptcy, insolvency, reorganization,
receivership, moratorium and other laws affecting the enforcement of creditors’ rights generally, and general principles
of equity, regardless of whether such enforcement is considered in a proceeding in equity or at law;


 


(v)           The
Operating Advisor is not in default with respect to any law, any order or decree of any court, or any order, regulation or demand
of any federal, state, municipal or governmental agency, which default, in the Operating Advisor’s reasonable judgment,
is likely to materially and adversely affect the financial condition or operations of the Operating Advisor or its properties
taken as a whole or its ability to perform its duties and obligations hereunder;


 


(vi)          No
litigation is pending or, to the best of the Operating Advisor’s knowledge, threatened against the Operating Advisor which
would prohibit the Operating Advisor from entering into this Agreement or, in the Operating Advisor’s good faith and reasonable
judgment, is likely to materially and adversely affect either the ability of the Operating Advisor to perform its obligations
under this Agreement or the financial condition of the Operating Advisor; and


 


(vii)         No
consent, approval, authorization or order of any court or governmental agency or body is required for the execution, delivery
and performance by the Operating Advisor, or compliance by the Operating Advisor with, this Agreement or the consummation of the
transactions of the Operating Advisor contemplated by this Agreement, except for any consent, approval, authorization or order
which has been obtained, or which, if not obtained would not have a materially adverse effect on the ability of the Operating
Advisor to perform its obligations hereunder.


 


(g)           The
Asset Representations Reviewer hereby represents and warrants to the Trustee, for its own benefit and the benefit of the Certificateholders,
and to the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor and the Certificate Administrator, as of
the Closing Date, that:


 


(i)            The
Asset Representations Reviewer is a limited liability company, duly organized, validly existing and in good standing under the
laws of the State of New York, and the Asset Representations Reviewer is in compliance with the laws of each State in which any
Mortgaged Property is located to the extent necessary to perform its obligations under this Agreement;


 


(ii)           The
execution and delivery of this Agreement by the Asset Representations Reviewer, and the performance and compliance with the terms
of this Agreement by the Asset Representations Reviewer, do not (A) violate the Asset Representations Reviewer’s organizational
documents, (B) constitute a default (or an event which, with notice or lapse of time, or both, would constitute a default) under,
or result in the breach of, any material agreement or other material instrument to which it is


 






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a party or which is applicable
to it or any of its assets, or (C) violate any law, rule, regulation, order, judgment or decree to which the Asset Representations
Reviewer or its property is subject, which, in the case of either (B) or (C), is likely to materially and adversely affect either
the ability of the Asset Representations Reviewer to perform its obligations under this Agreement or its financial condition;


 


(iii)          The
Asset Representations Reviewer has the full limited liability company power and authority to enter into and consummate all transactions
to be performed by it contemplated by this Agreement, has duly authorized the execution, delivery and performance by it of this
Agreement, and has duly executed and delivered this Agreement;


 


(iv)          This
Agreement, assuming due authorization, execution and delivery by the other parties hereto, constitutes a valid, legal and binding
obligation of the Asset Representations Reviewer, enforceable against the Asset Representations Reviewer in accordance with the
terms hereof, subject to (A) applicable bankruptcy, insolvency, reorganization, receivership, moratorium and other laws affecting
the enforcement of creditors’ rights generally, and (B) general principles of equity, regardless of whether such enforcement
is considered in a proceeding in equity or at law;


 


(v)           The
Asset Representations Reviewer is not in violation of, and its execution and delivery of this Agreement and its performance and
compliance with the terms of this Agreement will not constitute a violation of, any law, order or decree of any court or arbiter,
or any order regulation or demand of any federal, state or local governmental or regulatory authority, which violation, in the
Asset Representations Reviewer’s good faith and reasonable judgment, is likely to materially and adversely affect either
the ability of the Asset Representations Reviewer to perform its obligations under this Agreement or the financial condition of
the Asset Representations Reviewer;


 


(vi)          No
litigation is pending or, to the best of the Asset Representations Reviewer’s knowledge, threatened against the Asset Representations
Reviewer, which would prohibit the Asset Representations Reviewer from entering into this Agreement or, in the Asset Representations
Reviewer’s good faith and reasonable judgment, is likely to materially and adversely affect the ability of the Asset Representations
Reviewer to perform its obligations under this Agreement;


 


(vii)         No
consent, approval, authorization or order of any court or governmental agency or body is required under federal or state law for
the execution, delivery and performance by the Asset Representations Reviewer of, or compliance by the Asset Representations Reviewer
with, this Agreement or the consummation of the transactions of the Asset Representations Reviewer contemplated by this Agreement,
except for any consent, approval, authorization or order which has been obtained or can be obtained prior to the actual performance
by the Asset Representations Reviewer of its obligations under this Agreement, or which, if not obtained would not have a materially
adverse effect on the ability of the Asset Representations Reviewer to perform its obligations hereunder; and


 






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(viii)        The
Asset Representations Reviewer is an Eligible Asset Representations Reviewer.


 


Section 2.05     Execution
and Delivery of Certificates; Issuance of Lower-Tier Regular Interests.
The Trustee acknowledges the assignment to it of the Mortgage Loans and the delivery of the Mortgage Files to the Custodian (to
the extent the documents constituting the Mortgage Files are actually delivered to the Custodian), subject to the provisions of
Section 2.01 and Section 2.02 of this Agreement and, concurrently with such delivery, (i) acknowledges
and hereby declares that it holds the Mortgage Loans for the benefit of (y) the Holders of the Class R Interest (in respect
of the Class LTR Interest) and (z) the Holders of the Lower-Tier Regular Interests; (ii) in exchange for the Mortgage Loans, acknowledges
the issuance of the Lower-Tier Regular Interests and the Class LTR Interest represented by the Class R Certificates; (iii)
acknowledges the contribution by the Depositor of the Lower-Tier Regular Interests to the Upper-Tier REMIC and hereby declares
that it holds the Lower-Tier Regular Interests on behalf of the Upper-Tier REMIC and the Holders of the Certificates; and (iv) in
exchange for the Lower-Tier Regular Interests, has caused to be executed and caused to be authenticated and delivered to or upon
the order of the Depositor, or as directed by the terms of this Agreement, the Regular Certificates and the Class R Certificates,
in authorized denominations; and the Depositor hereby acknowledges the receipt by it or its designees of the Regular Certificates
and the Class R Certificates, which Certificates evidence ownership of the entire Trust Fund.


 


Section 2.06     Miscellaneous
REMIC Provisions. (a)  The Lower-Tier Regular Interests issued hereunder are hereby designated as the “regular interests”
in the Lower-Tier REMIC within the meaning of Section 860G(a)(1) of the Code, and the Class LTR Interest, represented by
the Class R Certificates, is hereby designated as the sole class of “residual interests” in the Lower-Tier REMIC within
the meaning of Section 860G(a)(2) of the Code. The Regular Certificates are hereby designated as “regular interests”
in the Upper-Tier REMIC within the meaning of Section 860G(a)(1) of the Code, and the Class UTR Interest, represented by
the Class R Certificates is hereby designated as the sole Class of “residual interests” in the Upper-Tier REMIC within
the meaning of Section 860G(a)(2) of the Code. The Closing Date is hereby designated as the “Startup Day” of
each Trust REMIC within the meaning of Section 860G(a)(9) of the Code. The “latest possible maturity date” of
the Lower-Tier Regular Interests and the Regular Certificates for purposes of Section 860G(a)(l) of the Code is the Rated
Final Distribution Date.


 


(b)          None
of the Depositor, the Trustee, the Certificate Administrator, the Master Servicer or the Special Servicer shall enter into any
arrangement by which the Trust Fund will receive a fee or other compensation for services other than as specifically contemplated
herein.


 


Article III



ADMINISTRATION AND SERVICING

OF THE TRUST FUND


 


Section 3.01     The
Master Servicer To Act as Master Servicer; Special Servicer To Act as Special Servicer; Administration of the Mortgage Loans and
the Serviced Companion


 



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Loans.
(a) The Master Servicer (generally with respect to Mortgage Loans (other than a Non-Serviced Mortgage Loan) and
Serviced Companion Loans that are non-Specially Serviced Loans) and the Special Servicer (generally with respect to Specially
Serviced Loans and Serviced REO Loans), each as an independent contractor servicer, shall service and administer the Mortgage
Loans (other than a Non-Serviced Mortgage Loan) and the Serviced Companion Loans on behalf of the Trust Fund and the Trustee
(as Trustee for the Certificateholders) and, in the case of any Serviced Whole Loan, the related Serviced Companion
Loan Noteholders, (as a collective whole as if such Certificateholders and Serviced Companion Loan Noteholders,
as applicable, constituted a single lender (and with respect to any Serviced Whole Loan with a related Serviced
Subordinate Companion Loan, taking into account the subordinate nature of such Serviced Subordinate Companion Loan)), in each
case, in accordance with the Servicing Standard.


 


The
Master Servicer’s or Special Servicer’s liability for actions and omissions in its capacity as Master Servicer or
Special Servicer, as the case may be, hereunder is limited as provided herein (including, without limitation, pursuant to Section 6.03
hereof). To the extent consistent with the foregoing and subject to any express limitations set forth in this Agreement, the
Master Servicer and Special Servicer shall seek to maximize the timely and complete recovery of principal and interest on the
Mortgage Notes; provided, that nothing herein contained shall be construed as an express or implied guarantee by the Master
Servicer or Special Servicer of the collectability of the Mortgage Loans or the Serviced Companion Loans. Subject only to the
Servicing Standard, the Master Servicer and Special Servicer shall have full power and authority, acting alone or through sub-servicers
(subject to paragraph (c) of this Section 3.01, to the related sub-servicing agreement with each sub-servicer
and to Section 3.02 of this Agreement), to do or cause to be done any and all things in connection with such servicing
and administration that it may deem consistent with the Servicing Standard and, in its reasonable judgment, in the best interests
of the Certificateholders, including, without limitation, with respect to each Mortgage Loan (other than any Non-Serviced Mortgage
Loan, and in the case of the Serviced Whole Loans, in the best interests of the Certificateholders and the Serviced Companion
Loan Noteholders, as a collective whole as if such Certificateholders and (with respect to a Serviced Whole Loan) Serviced Companion
Loan Noteholders constituted a single lender (and with respect to any Serviced Whole Loan with a related Serviced Subordinate
Companion Loan, taking into account the subordinate nature of such Serviced Subordinate Companion Loan)) to prepare, execute and
deliver, on behalf of the Certificateholders and Serviced Companion Loan Noteholders and the Trustee or any of them: (i) any
and all financing statements, continuation statements and other documents or instruments necessary to maintain the lien on each
Mortgaged Property and related collateral; (ii) any modifications, waivers, consents or amendments to or with respect to
any documents contained in the related Mortgage File; and (iii) any and all instruments of satisfaction or cancellation,
or of partial or full release or discharge, and all other comparable instruments, with respect to such Mortgage Loans and the
Mortgaged Properties. Notwithstanding the foregoing, neither the Master Servicer nor the Special Servicer shall modify, amend,
waive or otherwise consent to any change of the terms of any Mortgage Loan except under the circumstances described in Section 3.03,
Section 3.09, Section 3.10, Section 3.24, Section 3.25, Section 3.26
and Section 3.27 hereof. The Master Servicer (with respect to Mortgage Loans (other than a Non-Serviced Mortgage Loan)
and Serviced Companion Loans that are non-Specially Serviced Loans) and the Special Servicer (with respect to Specially Serviced
Loans and Serviced REO Loans) shall provide to the


 






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Borrowers related to such Mortgage Loans that it is servicing any reports required
to be provided to them pursuant to the related Loan Documents. Subject to Section 3.11 of this Agreement, the Trustee
shall, upon the receipt of a written request of a Servicing Officer, execute and deliver to the Master Servicer and Special Servicer,
as applicable, any powers of attorney (substantially in the form attached hereto as Exhibit DD, or such other form
as mutually agreed to by the Trustee and the Master Servicer or the Special Servicer, as applicable) and other documents (including
but not limited to other powers of attorney) prepared by the Master Servicer and Special Servicer, as applicable, and necessary
or appropriate (as certified in such written request) to enable the Master Servicer and Special Servicer, as applicable, to carry
out their servicing and administrative duties hereunder. The Trustee shall not be held liable for any misuse of any such power
of attorney or such other documents by the Master Servicer and Special Servicer, as applicable. Notwithstanding anything contained
herein to the contrary, none of the Master Servicer or the Special Servicer shall, without the Trustee’s written consent:
(i) initiate any action, suit or proceeding solely under the Trustee’s name without indicating the Master Servicer’s
or the Special Servicer’s, as the case may be, representative capacity (unless prohibited by any requirement of the applicable
jurisdiction in which any such action, suit or proceeding is brought and if so prohibited, in the manner required by such jurisdiction
(provided that the Master Servicer or the Special Servicer, as applicable, shall then provide five (5) Business Days’ written
notice to the Trustee of the initiation of such action, suit or proceeding (or such shorter time period as is reasonably required
in the judgment of the Master Servicer or the Special Servicer, as applicable, made in accordance with the Servicing Standard)
prior to filing such action, suit or proceeding), and shall not be required to obtain the Trustee’s consent or indicate
the Master Servicer’s or the Special Servicer’s, as applicable, representative capacity); or (ii) take any action
with the intent to cause, and that actually causes, the Trustee to be registered to do business in any state.


 


(b)          Unless
otherwise provided in the related Mortgage Note or related Intercreditor Agreement, the Master Servicer shall apply any partial
Principal Prepayment received on a Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced Companion Loan, as applicable,
on a date other than a Due Date to the Stated Principal Balance of such Mortgage Loan (other than a Non-Serviced Mortgage Loan)
or Serviced Companion Loan, as applicable, as of the Due Date immediately following the date of receipt of such partial Principal
Prepayment. Unless otherwise provided in the related Mortgage Note or related Intercreditor Agreement, the Master Servicer shall
apply any amounts received on U.S. Treasury obligations in respect of a Mortgage Loan (other than a Non-Serviced Mortgage Loan)
or Serviced Companion Loan, as applicable, being defeased pursuant to its terms to the Stated Principal Balance of and interest
on such Mortgage Loan or Serviced Companion Loan, as applicable, as of the Due Date immediately following the receipt of such
amounts.


 


(c)          The
Master Servicer and the Special Servicer, may enter into Sub-Servicing Agreements with third parties with respect to any of its
respective obligations hereunder, provided that (i) any such agreement requires the Sub-Servicer to comply in all
material respects with all of the applicable terms and conditions of this Agreement and shall be consistent with the provisions
of this Agreement, the terms of the respective Loan Documents and, in the case of a Serviced Companion Loan, the related Intercreditor
Agreement, (ii) if such Sub-Servicer is a Servicing Function Participant or an Additional Servicer, any such agreement provides
that (x) the failure of such Sub-Servicer to comply with any of the requirements under 


 






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Article X of this Agreement
applicable to such Sub-Servicer, including the failure to deliver any reports or certificates at the time such report or certification
is required under Article X and (y) the failure of such Sub-Servicer to comply with any requirements to deliver
any items required by Items 1122 and 1123 of Regulation AB under any other pooling and servicing agreement relating to any other
series of certificates offered by the Depositor shall constitute an event of default by such Sub-Servicer upon the occurrence
of which the Master Servicer shall (and the Depositor may) immediately terminate the related Sub-Servicer under the related Sub-Servicing
Agreement, which termination shall be deemed for cause, (iii) no Sub-Servicer retained by the Master Servicer or the Special
Servicer, as applicable, shall grant any modification, waiver or amendment to any Mortgage Loan or Serviced Companion Loan, as
applicable, or foreclose any Mortgage without the approval of the Master Servicer or the Special Servicer, as applicable, which
approval shall be given or withheld in accordance with the procedures set forth in Section 3.09, Section 3.10,
Section 3.24, Section 3.25, Section 3.26, Section 3.27, (as applicable), (iv) such
agreement shall be consistent with the Servicing Standard and (v) with respect to any Sub-Servicing Agreement entered into
after the Closing Date, if such Sub-Servicer is a Servicing Function Participant or an Additional Servicer, such Sub-Servicer,
at the time the related Sub-Servicing Agreement is entered into, is not a Prohibited Party. Any such Sub-Servicing Agreement may
permit the Sub-Servicer to delegate its duties to agents or Subcontractors so long as the related agreements or arrangements with
such agents or Subcontractors are consistent with the provisions of this Section 3.01(c) (including, for the avoidance
of doubt, that no such agent or Subcontractor is a Prohibited Party, if such agent or Subcontractor would be a Servicing Function
Participant, at the time the related sub-servicing agreement is entered into). Any monies received by a Sub-Servicer pursuant
to a Sub-Servicing agreement (other than sub-servicing fees) shall be deemed to be received by the Master Servicer on the date
received by such Sub-Servicer.


 


Any
Sub-Servicing Agreement entered into by the Master Servicer or the Special Servicer, as applicable, shall provide that it may
be assumed or terminated by the Trustee (in its sole discretion, but must be assumed with respect to any Mortgage Loan Seller
Sub-Servicer so long as such Mortgage Loan Seller Sub-Servicer is not in default under the applicable Sub-Servicing Agreement)
if the Trustee has assumed the duties of the Master Servicer or the Special Servicer, respectively, or any successor Master Servicer
or Special Servicer, as applicable, without cost or obligation to the assuming party or the Trust Fund, upon the assumption by
such party of the obligations, except to the extent they arose prior to the date of assumption, of the Master Servicer or the
Special Servicer, as applicable, pursuant to Section 7.02 (it being understood that any such obligations shall be
the obligations of the terminated Master Servicer or Special Servicer, as applicable, only).


 


Any
Sub-Servicing Agreement, and any other transactions or services relating to the Mortgage Loans or the Serviced Companion Loans
involving a Sub-Servicer, shall be deemed to be between the Master Servicer or the Special Servicer, as applicable, and such Sub-Servicer
alone, and the Trustee, the Certificate Administrator, the Trust Fund, the Operating Advisor, the Asset Representations Reviewer,
the Certificateholders and, if applicable, Serviced Companion Loan Noteholders shall not be deemed parties thereto and shall have
no claims, rights (except as specified below), obligations, duties or liabilities with respect to the Sub-Servicer, except as
set forth in Section 3.01(c)(ii) and Section 3.01(d).


 






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Any
Sub-Servicing Agreement as to which a Mortgage Loan Seller required the Master Servicer to enter into shall provide that the Master
Servicer (and any successor Master Servicer) or Trustee may only terminate the related Mortgage Loan Seller Sub-Servicer for cause
pursuant to such Sub-Servicing Agreement and as otherwise specified in such Sub-Servicing Agreement.


 


Notwithstanding
any other provision of this Agreement, the Special Servicer shall not enter into any Sub-Servicing Agreement which provides for
the performance by third parties of any or all of its obligations herein, without the consent of the Directing Holder for so long
as no Control Termination Event has occurred and is continuing, except to the extent necessary for the Special Servicer to comply
with applicable regulatory requirements.


 


The
Master Servicer or the Special Servicer, as applicable, shall monitor the performance and enforce the obligations of each Mortgage
Loan Seller Sub-Servicer and each Sub-Servicer that it retains under a related Sub-Servicing Agreement, except that the Master
Servicer shall only be required to use reasonable efforts to cause any Mortgage Loan Seller Sub-Servicer to comply with Article
X hereof. No Sub-Servicer shall be permitted under any Sub-Servicing Agreement to make material servicing decisions, such as loan
modifications or determinations as to the manner or timing of enforcing remedies under the Mortgage Loan documents, without the
consent of the Master Servicer or Special Servicer, as applicable.


 


(d)          If
the Trustee or any successor Master Servicer assumes the obligations of the Master Servicer, or if the Trustee or any successor
Special Servicer assumes the obligations of the Special Servicer, in each case in accordance with Section 7.02, the
Trustee, the successor Master Servicer or such successor Special Servicer, as applicable, to the extent necessary to permit the
Trustee, the successor Master Servicer or such successor Special Servicer, as applicable, to carry out the provisions of Section 7.02,
shall, without act or deed on the part of the Trustee, the successor Master Servicer or such successor Special Servicer, as applicable,
succeed to all of the rights and obligations of the Master Servicer or the Special Servicer, as applicable, under any Sub-Servicing
Agreement entered into by the Master Servicer or the Special Servicer, as applicable, pursuant to Section 3.01(c).
In such event, such successor shall be deemed to have assumed all of the Master Servicer’s or the Special Servicer’s
interest, as applicable, therein (but not any liabilities or obligations in respect of acts or omissions of the Master Servicer
or the Special Servicer, as applicable, prior to such deemed assumption) and to have replaced the Master Servicer or the Special
Servicer, as applicable, as a party to such Sub-Servicing Agreement to the same extent as if such Sub-Servicing Agreement had
been assigned to such successor, except that the Master Servicer or the Special Servicer, as applicable, shall not thereby be
relieved of any liability or obligations under such Sub-Servicing Agreement that accrued prior to the succession of such successor.


 


If
the Trustee or any successor Master Servicer or Special Servicer, as applicable, assumes the servicing obligations of the Master
Servicer or the Special Servicer, as applicable, then upon request of such successor, the Master Servicer or Special Servicer,
as applicable, shall at its own expense (except (i) in the event that the Special Servicer is terminated pursuant to Section 3.22(b),
at the expense of the Certificateholders effecting such termination, as applicable; or (ii) in the event that the Master
Servicer or the Special Servicer is terminated pursuant to Section 6.04(c), at the expense of the Trust) deliver to
such successor all documents and records relating to any Sub-Servicing Agreement and the Mortgage Loans and/or the


 






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Serviced Companion
Loans, as applicable, then being serviced hereunder or thereunder and an accounting of amounts collected and held by it, if any,
and shall otherwise use commercially reasonable efforts to effect the orderly and efficient transfer of any Sub-Servicing Agreement
to such successor. The Master Servicer shall not be required to assume the obligations of the Special Servicer and nothing in
this paragraph shall imply otherwise.


 


(e)          The
parties hereto acknowledge that each Whole Loan is subject to the terms and conditions of the related Intercreditor Agreement
and, with respect to a Non-Serviced Mortgage Loan, further subject to the servicing under and all other terms and conditions of
the Other Pooling and Servicing Agreement. The parties hereto further recognize the respective rights and obligations of each
Companion Loan Noteholder under the related Intercreditor Agreement, including, without limitation with respect to (A) the
allocation of collections (and all other amounts received in connection with the related Whole Loan) on or in respect of the related
Mortgage Loan and (B) the allocation of Default Interest on or in respect of the related Mortgage Loan.


 


Notwithstanding
anything herein to the contrary, the parties hereto acknowledge and agree that the Master Servicer’s and the Special Servicer’s
obligations and responsibilities hereunder and the Master Servicer’s and the Special Servicer’s authority with respect
to the Serviced Whole Loans are limited by and subject to the terms of the related Intercreditor Agreement and, with respect to
any Non-Serviced Mortgage Loan, the rights of the Other Servicer and the Other Special Servicer under the Other Pooling and Servicing
Agreement. The Master Servicer shall, consistent with the applicable Servicing Standard, enforce the rights of the Trustee (as
holder of a Non-Serviced Mortgage Loan) under the related Intercreditor Agreement and the Other Pooling and Servicing Agreement.
The parties hereto acknowledge that each Non-Serviced Whole Loan and any related REO Property are being serviced and administered
under the related Other Pooling and Servicing Agreement and the Other Servicer will make any Servicing Advances required thereunder
in respect of such Non-Serviced Whole Loan and remit collections on the Non-Serviced Mortgage Loan to or on behalf of the Trust.
None of the Master Servicer, the Special Servicer, the Certificate Administrator or the Trustee shall have any obligation or authority
to supervise the related Other Servicer, the related Other Special Servicer or the related Other Trustee or to make Servicing
Advances with respect to any such Non-Serviced Whole Loan. Although each Non-Serviced Whole Loan is being serviced under the related
Other Pooling and Servicing Agreement, the Controlling Class Representative may have certain information and consultation rights
relating to the servicing of the Non-Serviced Whole Loan pursuant to the terms of the related Intercreditor Agreement and the
related Other Pooling and Servicing Agreement. Any obligation of the Master Servicer or Special Servicer, as applicable, to provide
information and collections to the Trustee, the Certificate Administrator and the Certificateholders with respect to any Non-Serviced
Whole Loan shall be dependent on its receipt of the corresponding information and collections from the related Other Servicer
or the related Other Special Servicer. Nothing herein shall be deemed to override the provisions of an Intercreditor Agreement
with respect to the rights of the related noteholders thereunder and with respect to the servicing and administrative duties and
obligations with respect to such Non-Serviced Whole Loans. In the event of any inconsistency or discrepancy between the provisions,
terms or conditions of an Intercreditor Agreement related to a Non-Serviced Whole Loan and the provisions, terms or conditions
of this Agreement, the related Intercreditor Agreement shall govern.


 






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If
any Mortgage Loan included in any Serviced Whole Loan is no longer part of the Trust Fund and the servicing and administration
of such Serviced Whole Loan is to be governed by a separate servicing agreement and not by this Agreement, the Master Servicer
and, if such Serviced Whole Loan is then being specially serviced hereunder, the Special Servicer, shall continue to act in such
capacities under such separate servicing agreement, which agreement shall be reasonably acceptable to the Master Servicer and/or
the Special Servicer, as the case may be, and shall contain servicing and administration, limitation of liability, indemnification
and servicing compensation provisions substantially similar to the corresponding provisions of this Agreement, except that such
Serviced Whole Loan and the related Mortgaged Property shall be serviced as if they were the sole assets serviced and administered
thereunder and the sole source of funds thereunder and except that there shall be no further obligation of any Person to make
P&I Advances. All amounts due the Master Servicer, the Trustee and the Special Servicer (including Advances and interest thereon)
pursuant to this Agreement and the applicable Intercreditor Agreement shall be paid to the Master Servicer, the Trustee and the
Special Servicer by the successor Master Servicer or Special Servicer, as applicable, or as an Additional Trust Fund Expense on
the first Master Servicer Remittance Date following termination. In addition, until such time as a separate servicing agreement
with respect to such Serviced Whole Loan and any related Serviced REO Property has been entered into and, notwithstanding that
neither such Mortgage Loan nor any related Serviced REO Property is part of the Trust Fund, the Custodian shall continue to hold
the Mortgage File and the Master Servicer and, if applicable, the Special Servicer shall (subject to the preceding sentence) continue
to service such Serviced Whole Loan or any related Serviced REO Property, as the case may be, under this Agreement as if it were
a separate servicing agreement. Nothing herein shall be deemed to override the provisions of an Intercreditor Agreement with respect
to the rights of the related noteholders thereunder and with respect to the servicing and administrative duties and obligations
with respect to such Serviced Whole Loans. In the event of any inconsistency or discrepancy between the provisions, terms or conditions
of an Intercreditor Agreement related to a Serviced Whole Loan and the provisions, terms or conditions of this Agreement, the
related Intercreditor Agreement shall govern, and as to any matter on which such Intercreditor Agreement is silent or makes reference
to this Agreement, this Agreement shall govern.


 


(f)          Except
as otherwise expressly set forth in this Agreement, Wells Fargo Bank, National Association acting in any particular capacity hereunder
will not be deemed to be imputed with knowledge of (a) Wells Fargo Bank, National Association, acting in a capacity that is unrelated
to the transactions contemplated by this Agreement, or (b) Wells Fargo Bank, National Association, acting in any other capacity
hereunder, except, in the case of either clause (a) or clause (b), where some or all of the obligations performed
in such capacities are performed by one or more employees within the same group or division of Wells Fargo Bank, National Association,
or where the groups or divisions responsible for performing the obligations in such capacities have one or more of the same Responsible
Officers, provided in any event, however, the knowledge of employees performing special servicing functions shall not be
imputed to employees performing master servicing functions, and the knowledge of employees performing master servicing functions
shall not be imputed to employees performing special servicing functions.


 


Section 3.02     Liability
of the Master Servicer and the Special Servicer When Sub-Servicing. Notwithstanding any Sub-Servicing Agreement, any of
the provisions of this


 






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Agreement relating to agreements or arrangements between the Master Servicer or Special Servicer, as applicable,
and any Person acting as sub-servicer (or its agents or Subcontractors) or any reference to actions taken through any Person acting
as sub-servicer or otherwise, the Master Servicer or the Special Servicer, as applicable, shall remain obligated and primarily
liable to the Trustee (on behalf of the Certificateholders), the Certificateholders the Certificateholders and, with respect to
the Serviced Whole Loans, the Serviced Companion Loan Noteholders, for the servicing and administering of the Mortgage Loans and
Serviced Companion Loans in accordance with the provisions of this Agreement without diminution of such obligation or liability
by virtue of such sub-servicing agreements or arrangements or by virtue of indemnification from the Depositor or any other Person
acting as sub-servicer (or its agents or Subcontractors) to the same extent and under the same terms and conditions as if the
Master Servicer or the Special Servicer, as applicable, alone were servicing and administering the Mortgage Loans and Serviced
Companion Loans. Each of the Master Servicer and the Special Servicer shall be entitled to enter into an agreement with any sub-servicer
providing for indemnification of the Master Servicer or the Special Servicer, as applicable, by such sub-servicer, and nothing
contained in this Agreement shall be deemed to limit or modify such indemnification, but no such agreement for indemnification
shall be deemed to limit or modify this Agreement.


 


Section 3.03     Collection
of Mortgage Loan and Serviced Companion Loan Payments. The Master Servicer (with respect to all the Mortgage Loans (other
than a Non-Serviced Mortgage Loan) and the Serviced Companion Loans (other than Specially Serviced Loans) that the Master
Servicer is servicing) and the Special Servicer (with respect to Specially Serviced Loans) shall use reasonable efforts to
collect all payments called for under the terms and provisions of the Mortgage Loans (other than the Non-Serviced Mortgage
Loans) and the Serviced Companion Loans each is obligated to service hereunder, and shall follow the Servicing Standard with
respect to such collection procedures; provided, that nothing herein contained shall be construed as an express or
implied guarantee by the Master Servicer or the Special Servicer of the collectability of the Mortgage Loans or the Serviced
Companion Loans. With respect to each Performing Loan (other than a Non-Serviced Mortgage Loan), the Master Servicer shall
use its reasonable efforts, consistent with the Servicing Standard, to collect income statements and rent rolls from
Borrowers as required by the Loan Documents and the terms hereof. The Master Servicer shall provide at least
90 days’ notice (with a copy to the Special Servicer) to the Borrowers of Balloon Payments coming due on
Performing Loans (other than a Non-Serviced Mortgage Loan). Consistent with the foregoing, the Master Servicer (with respect
to each Performing Loan) or the Special Servicer (with respect to Specially Serviced Loans) may in their discretion waive any
late payment charge or Default Interest in connection with any delinquent Periodic Payment or Balloon Payment with respect to
any Mortgage Loan or Serviced Companion Loan that it is servicing. In addition, the Special Servicer shall be entitled to
take such actions with respect to the collection of payments on the Mortgage Loans and the Serviced Companion Loans as are
permitted or required under this Agreement.


 


Section 3.04     Collection
of Taxes, Assessments and Similar Items; Escrow Accounts. (a) The Master Servicer, in the case of all Mortgage Loans
(other than a Non-Serviced Mortgage Loan) that it is servicing, shall maintain accurate records with respect to each related
Mortgaged Property reflecting the status of taxes, assessments and other similar items that are or may become a lien thereon
and the status of insurance premiums payable with respect


 






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thereto.
With respect to each Specially Serviced Loan, the Special Servicer shall use its reasonable efforts, consistent with the Servicing
Standard, to collect income statements and rent rolls from Borrowers as required by the Loan Documents. The Special Servicer,
in the case of Serviced REO Loans, and the Master Servicer, in the case of all Mortgage Loans (other than a Non-Serviced Mortgage
Loan) that it is servicing, shall use reasonable efforts consistent with the Servicing Standard to, from time to time, (i) obtain
all bills for the payment of such items (including renewal premiums), and (ii) effect, or, if the Special Servicer, to use
reasonable efforts to cause the Master Servicer to effect, payment of all such bills with respect to such Mortgaged Properties
prior to the applicable penalty or termination date, in each case employing for such purpose Escrow Payments as allowed under
the terms of the related Loan Documents for the related Mortgage Loan or Serviced Companion Loan. If a Borrower under a Mortgage
Loan (other than a Non-Serviced Mortgage Loan) fails to make any such payment on a timely basis or collections from the Borrower
are insufficient to pay any such item before the applicable penalty or termination date, the Master Servicer shall advance the
amount of any shortfall as a Servicing Advance unless the Master Servicer determines in accordance with the Servicing Standard
that such Advance would be a Nonrecoverable Advance (provided that with respect to advancing insurance premiums or delinquent
tax assessments the Master Servicer shall comply with the provisions of the second to last paragraph in Section 3.21(d)
of this Agreement). The Master Servicer shall be entitled to reimbursement of Servicing Advances, with interest thereon at
the Reimbursement Rate, that it makes pursuant to this Section 3.04 of this Agreement from amounts received on or
in respect of the related Mortgage Loan or Serviced Whole Loan respecting which such Advance was made or if such Advance has become
a Nonrecoverable Advance, to the extent permitted by Section 3.06 of this Agreement. No costs incurred by the Master
Servicer in effecting the payment of taxes and assessments on the Mortgaged Properties shall, for the purpose of calculating distributions
to Certificateholders or Serviced Companion Loan Noteholders, be added to the amount owing under the related Mortgage Loans or
Serviced Companion Loans, notwithstanding that the terms of such Mortgage Loans or Serviced Companion Loans so permit.


 


The
parties acknowledge that with respect to Non-Serviced Mortgage Loans, the Other Servicer is obligated to make (or any other service
provider provided for in the related Other Pooling and Servicing Agreement may make) Servicing Advances with respect to such Non-Serviced
Mortgage Loans pursuant to the related Other Pooling and Servicing Agreement. The Other Servicer (or other service provider) shall
be entitled to reimbursement for nonrecoverable Servicing Advances (as such term or similar term may be defined in the related
Other Pooling and Servicing Agreement) with, in each case, any accrued and unpaid interest thereon provided for under the related
Other Pooling and Servicing Agreement in the manner set forth in such Other Pooling and Servicing Agreement, the related Intercreditor
Agreement and Section 3.06(a)(v) of this Agreement.


 


(b)          The
Master Servicer shall segregate and hold all funds collected and received pursuant to any Mortgage Loan (other than any Non-Serviced
Mortgage Loans) or any Serviced Companion Loan that it is servicing constituting Escrow Payments separate and apart from any of
its own funds and general assets and shall establish and maintain one or more segregated custodial accounts (each, an “Escrow
Account”) into which all Escrow Payments shall be deposited within two (2) Business Days after receipt of properly
identified funds and maintained in accordance with the requirements of the related Mortgage Loan or Serviced Whole


 






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Loan, as applicable,
and in accordance with the Servicing Standard. The Master Servicer shall also deposit into each Escrow Account any amounts representing
losses on Permitted Investments to the extent required pursuant to Section 3.07(b) of this Agreement and any Insurance
Proceeds or Liquidation Proceeds which are required to be applied to the restoration or repair of any Mortgaged Property pursuant
to the related Mortgage Loan or Serviced Whole Loan. Escrow Accounts shall be Eligible Accounts (except to the extent the related
Loan Documents require it to be held in an account that is not an Eligible Account); provided, if the ratings of the financial
institution holding such account are downgraded to a ratings level below that of an Eligible Account (except to the extent the
related Loan Documents require it to be held in an account that is not an Eligible Account), the Master Servicer shall have 30
days (or such longer time as confirmed by a Rating Agency Confirmation, obtained at the expense of the Master Servicer relating
to the Certificates and any related Serviced Companion Loan Securities) to transfer such account to an Eligible Account. Escrow
Accounts shall be entitled, “Wells Fargo Bank, National Association, as Master Servicer, on behalf of Wilmington Trust,
National Association, as Trustee, for the benefit of the Holders of Deutsche Mortgage & Asset Receiving Corporation, DBJPM
2016-C1 Mortgage Trust Commercial Mortgage Pass-Through Certificates, Series 2016-C1 and Various Borrowers and, if applicable,
Serviced Companion Loan Noteholders”. Withdrawals from an Escrow Account may be made by the Master Servicer only:


 


(i)           to
effect timely payments of items constituting Escrow Payments for the related Mortgage;


 


(ii)          to
transfer funds to the Collection Account and/or the applicable Serviced Whole Loan Collection Account (or any sub-account thereof)
to reimburse the Master Servicer or the Trustee for any Servicing Advance (with interest thereon at the Reimbursement Rate) relating
to Escrow Payments, but only from amounts received with respect to the related Mortgage Loan and/or Serviced Whole Loan, as applicable,
which represent late collections of Escrow Payments thereunder;


 


(iii)         for
application to the restoration or repair of the related Mortgaged Property in accordance with the related Mortgage Loan and/or
Serviced Whole Loan, as applicable, and the Servicing Standard;


 


(iv)         to
clear and terminate such Escrow Account upon the termination of this Agreement or pay-off of the related Mortgage Loan and/or
Serviced Whole Loan, as applicable;


 


(v)          to
pay from time to time to the related Borrower any interest or investment income earned on funds deposited in the Escrow Account
if such income is required to be paid to the related Borrower under law or by the terms of the Loan Documents for such Mortgage
Loan or Serviced Whole Loan, or otherwise to the Master Servicer; or


 


(vi)         to
remove any funds deposited in an Escrow Account that were not required to be deposited therein or to refund amounts to Borrowers
determined to be overages.


 



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(c)          The
Master Servicer shall, as to each Mortgage Loan (other than any Non-Serviced Mortgage Loan) and each Serviced Companion Loan that
it is servicing, (i) maintain accurate records with respect to the related Mortgaged Property reflecting the status of real
estate taxes, assessments and other similar items that are or may become a lien thereon and the status of insurance premiums and
any ground rents payable in respect thereof and (ii) use reasonable efforts to obtain, from time to time, all bills for (or
otherwise confirm) the payment of such items (including renewal premiums) and, for such Mortgage Loans and Serviced Companion
Loans that require the related Borrower to escrow for such items, shall effect payment thereof prior to the applicable penalty
or termination date. For purposes of effecting any such payment for which it is responsible, the Master Servicer shall apply Escrow
Payments as allowed under the terms of the related Loan Documents for such Mortgage Loan and Serviced Companion Loan (or, if such
Mortgage Loan or Serviced Companion Loan does not require the related Borrower to escrow for the payment of real estate taxes,
assessments, insurance premiums, ground rents (if applicable) and similar items, the Master Servicer shall use reasonable efforts
consistent with the Servicing Standard to cause the related Borrower to comply with the requirement of the related Loan Documents
that the Borrower make payments in respect of such items at the time they first become due and, in any event, prior to the institution
of foreclosure or similar proceedings with respect to the related Mortgaged Property for nonpayment of such items). Subject to
Section 3.21 of this Agreement, the Master Servicer shall timely make a Servicing Advance with respect to the Mortgage
Loans (other than Non-Serviced Mortgage Loans) and Serviced Whole Loans that it is servicing, if any, to cover any such item which
is not so paid, including any penalties or other charges arising from the Borrower’s failure to timely pay such items.


 


Section 3.05          Collection
Accounts; Gain-on-Sale Reserve Account; Distribution Accounts; Interest Reserve Account and Serviced Whole Loan Collection Accounts.
(a)  The Master Servicer shall establish and maintain a Collection Account, for the benefit of the Certificateholders
and the Trustee as the Holder of the Lower-Tier Regular Interests with respect to the Mortgage Loans that it is servicing. The
Collection Account shall be established and maintained as an Eligible Account. Amounts attributable to the Companion Loans will
not be assets of the Trust Fund.


 


The
Master Servicer shall deposit or cause to be deposited in the Collection Account within two Business Days following receipt of
properly identified funds of the following payments and collections received or made by or on behalf of it on or with respect
to the Mortgage Loans subsequent to the Cut-off Date:


 


(i)           all
payments on account of principal on the Mortgage Loans (other than any Mortgage Loan related to a Serviced Whole Loan), including
the principal component of all Unscheduled Payments;


 


(ii)          all
payments on account of interest on the Mortgage Loans (other than any Mortgage Loan related to a Serviced Whole Loan) (net of
the related Servicing Fees), including Prepayment Premiums, Default Interest, Yield Maintenance Charges and the interest component
of all Unscheduled Payments;


 


(iii)         any
amounts required to be deposited pursuant to Section 3.07(b) of this Agreement, in connection with net losses realized
on Permitted Investments with respect to funds held in the Collection Account;


 






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(iv)         all
Net REO Proceeds withdrawn from the related REO Account (other than the Serviced Whole Loan REO Account) pursuant to Section 3.15(b)
of this Agreement;


 


(v)          any
amounts received from Borrowers which represent recoveries of Property Protection Expenses and are allocable to the Mortgage Loans
(other than any Mortgage Loan related to a Serviced Whole Loan), to the extent not permitted to be retained by the Master Servicer
as provided herein;


 


(vi)          all
Insurance Proceeds, Condemnation Proceeds and Liquidation Proceeds received in respect of any Mortgage Loan (other than any Mortgage
Loan related to a Serviced Whole Loan) or any REO Property (other than a Serviced REO Property related to a Serviced Whole Loan),
other than Gain-on-Sale Proceeds and Liquidation Proceeds that are received in connection with a purchase of all the Mortgage
Loans and any REO Properties in the Trust Fund and that are to be deposited in the Lower-Tier Distribution Account pursuant to
Section 9.01 of this Agreement, together with any amounts representing recoveries of Nonrecoverable Advances, including
any recovery of Unliquidated Advances, in respect of the related Mortgage Loans (other than any Mortgage Loan related to a Serviced
Whole Loan); provided, that any Liquidation Proceeds related to a sale, pursuant to Section 3.16 hereof or
pursuant to the related Intercreditor Agreement, of a Mortgage Loan included in a Serviced Whole Loan shall be deposited directly
into the Collection Account and applied solely to pay expenses relating to that Mortgage Loan and to Available Funds;


 


(vii)        Penalty
Charges on the Mortgage Loans (other than any Mortgage Loan related to a Serviced Whole Loan) to the extent required to offset
interest on Advances and Additional Trust Fund Expenses pursuant to Section 3.12(d) of this Agreement;


 


(viii)       any
amounts required to be deposited by the Master Servicer or the Special Servicer pursuant to Section 3.08(b) of this
Agreement in connection with losses resulting from a deductible clause in a blanket or master force-placed policy in respect
of the Mortgage Loans (other than any Mortgage Loan related to a Serviced Whole Loan);


 


(ix)          any
other amounts required by the provisions of this Agreement (including without limitation any amounts to be transferred from the
Serviced Whole Loan Collection Account pursuant to Section 3.06(b)(i)(B) and, with respect to the Companion Loans
or any mezzanine indebtedness that may exist on a future date, all amounts received pursuant to the cure and purchase rights or
reimbursement obligations set forth in the related Intercreditor Agreement or mezzanine intercreditor agreement, as applicable,
other than in respect of a Serviced Whole Loan) to be deposited into the Collection Account by the Master Servicer or Special
Servicer;


 


(x)          any
Compensating Interest Payments in respect of the Mortgage Loans that the Master Servicer is servicing (other than any Non-Serviced
Mortgage Loan or any Mortgage Loan related to a Serviced Whole Loan) pursuant to Section 3.17(c) of this Agreement;


 






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(xi)         any
Loss of Value Payments, as set forth in Section 3.06(e) of this Agreement; and


 


(xii)         in
the case of any Mortgage Loan that is part of a Serviced Whole Loan, the amounts to be withdrawn from the related Serviced Whole
Loan Collection Account and deposited into the Collection Account pursuant to Section 3.06(b)(i).


 


In
the case of Gain-on-Sale Proceeds, the Master Servicer shall make appropriate ledger entries received with respect thereto, which
the Master Servicer shall hold for (i) the Trustee for the benefit of the Lower-Tier Regular Interests, (ii) for the benefit
of the Certificateholders and the Trustee as the Holder of the Lower-Tier Regular Interests and (iii) for the benefit of
any Serviced Companion Loan Noteholder entitled thereto. Any Gain-on-Sale Proceeds shall be identified separately from any other
amounts held in the Collection Account (with amounts attributable to each Class or Classes and any Serviced Companion Loan also
identified separately).


 


The
foregoing requirements for deposits in the Collection Account shall be exclusive, it being understood and agreed that, without
limiting the generality of the foregoing, payments in the nature of late payment charges (subject to Section 3.12
and the related Intercreditor Agreement), Assumption Fees, assumption application fees, Modification Fees and consent fees, loan
service transaction fees, extension fees, demand fees, beneficiary statement charges and similar fees need not be deposited in
the Collection Account by the Master Servicer or the Special Servicer, as applicable, and, to the extent permitted by applicable
law, the Master Servicer or the Special Servicer, as applicable in accordance with Section 3.12 hereof, shall be entitled
to retain any such charges and fees received with respect to the Mortgage Loans that it is servicing as additional compensation.


 


If
the Master Servicer deposits in the Collection Account any amount not required to be deposited therein, it may at any time withdraw
such amount from the Collection Account, any provision herein to the contrary notwithstanding.


 


Upon
receipt of any of the amounts described in clauses (i), (ii), (v) and (vi) of this Agreement above with respect to any Specially
Serviced Loan which is not a Serviced REO Loan, the Special Servicer shall remit such amounts within one Business Day after receipt
thereof (except, if such amounts are not properly identified, the Special Servicer shall promptly identify such amounts and shall
remit such amounts within one Business Day after such identification) to the Master Servicer for deposit into the Collection Account
in accordance with the second paragraph of this Section 3.05 of this Agreement, unless the Special Servicer determines,
consistent with the Servicing Standard, that a particular item should not be deposited because of a restrictive endorsement or
other appropriate reason. Any such amounts received by the Special Servicer with respect to a Serviced REO Property (other than
any Serviced REO Property related to the Serviced Whole Loans) shall be deposited by the Special Servicer into the REO Account
and remitted to the Master Servicer for deposit into the Collection Account pursuant to Section 3.15(b) of this Agreement.
With respect to any related Serviced Whole Loan, the Special Servicer shall comply with Section 3.05(g) of this Agreement.
With respect to any such amounts paid by check to the order of the Special Servicer, the Special Servicer shall endorse without
recourse or warranty such check to the order of the Master Servicer and shall promptly deliver any such check to the Master Servicer
by overnight courier.


 






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(b)          The Certificate Administrator
shall establish and maintain the Lower-Tier Distribution Account in its own name for the benefit of the Trustee, for the benefit
of the Certificateholders and the Trustee as the Holder of the Lower-Tier Regular Interests. The Lower-Tier Distribution Account
shall be established and maintained as an Eligible Account or as a sub-account of an Eligible Account.


 


(c)           With respect to each Distribution
Date, the Master Servicer shall deliver to the Certificate Administrator on or before the Master Servicer Remittance Date the funds
then on deposit in the Collection Account after giving effect to withdrawals of funds pursuant to Section 3.06(a) of
this Agreement and deposits from the Serviced Whole Loan Collection Account pursuant to Section 3.06 of this Agreement.
Upon receipt from the Master Servicer of such amounts held in the Collection Account, the Certificate Administrator shall deposit
in (A) the Lower-Tier Distribution Account (i) the amount of Available Funds to be distributed pursuant to Section 4.01
of this Agreement on such Distribution Date and (ii) the amount of Gain-on-Sale Proceeds allocable to any Mortgage Loan to be deposited
into the Lower-Tier Distribution Account (which the Certificate Administrator shall then deposit in the Gain-on-Sale Reserve Account)
pursuant to Section 3.06 of this Agreement and (B) the Interest Reserve Account as part of the Lower-Tier REMIC, the
amount of any Withheld Amounts to be deposited pursuant to Section 3.05(e) of this Agreement.


 


(d)           If any Loss of Value Payments
are received in connection with a Material Defect or Material Breach, as the case may be, pursuant to or as contemplated by Section 2.03(e)
of this Agreement, the Special Servicer shall establish and maintain one or more non-interest bearing accounts (collectively, the
“Loss of Value Reserve Fund”) to be held for the benefit of the Certificateholders, for purposes of holding
such Loss of Value Payments. Each account that constitutes the Loss of Value Reserve Fund shall be an Eligible Account or a sub-account
of an Eligible Account. The Special Servicer shall, upon receipt, deposit in the Loss of Value Reserve Fund all Loss of Value Payments
received by it. The Certificate Administrator shall account for the Loss of Value Reserve Fund as an outside reserve fund within
the meaning of Treasury Regulations Section 1.860G-2(h) and not an asset of any Trust REMIC. Furthermore, for all federal
tax purposes, the Certificate Administrator shall (i) treat amounts paid out of the Loss of Value Reserve Fund through the
Collection Account to the Certificateholders as contributed to and distributed by the Trust REMICs and (ii) treat any amounts
paid out of the Loss of Value Reserve Fund through the Collection Account to a Mortgage Loan Seller as distributions by the Trust
Fund to such Mortgage Loan Seller as beneficial owner of the Loss of Value Reserve Fund. The applicable Mortgage Loan Seller will
be the beneficial owner of the Loss of Value Reserve Fund for all federal income tax purposes, and shall be taxable on all income
earned thereon.


 


(e)           The Certificate Administrator
shall establish and maintain the Interest Reserve Account in its own name for the benefit of the Trustee, for the benefit of the
Certificateholders and the Trustee as the Holder of the Lower-Tier Regular Interests. The Interest Reserve Account shall be established
and maintained as an Eligible Account or as a sub-account of an Eligible Account.


 


On each Master Servicer Remittance
Date occurring in (i) January of each calendar year that is not a leap year and (ii) February of each calendar
year, unless in either case such Master Servicer Remittance Date is the final Master Servicer Remittance Date, the


 



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Certificate
Administrator shall calculate the Withheld Amounts. On each such Master Servicer Remittance Date, the Certificate Administrator
shall, with respect to each Mortgage Loan that does not accrue interest on the basis of a 360-day year of twelve 30-day months,
withdraw or be deemed to withdraw from the Lower-Tier Distribution Account and deposit or be deemed to deposit in the Interest
Reserve Account an amount equal to the aggregate of the Withheld Amounts calculated in accordance with the previous sentence. If
the Certificate Administrator shall deposit in the Interest Reserve Account any amount not required to be deposited therein, it
may at any time withdraw such amount from the Interest Reserve Account any provision herein to the contrary notwithstanding. On
or prior to the Master Servicer Remittance Date in March of each calendar year (or in February if the final Distribution
Date will occur in such month), the Certificate Administrator shall transfer to the Lower-Tier Distribution Account the aggregate
of all Withheld Amounts on deposit in the Interest Reserve Account.


 


(f)           The Certificate Administrator
shall establish and maintain the Upper-Tier Distribution Account in its own name for the benefit of the Trustee and for the benefit
of the Certificateholders. The Upper-Tier Distribution Account shall be established and maintained as an Eligible Account or a
sub-account of an Eligible Account. Promptly on each Distribution Date, the Certificate Administrator shall withdraw or be deemed
to withdraw from the Lower-Tier Distribution Account and deposit or be deemed to deposit in the Upper-Tier Distribution Account
on or before such date the Lower-Tier Distribution Amount and the amount of any Prepayment Premiums and Yield Maintenance Charges
for such Distribution Date to be distributed in respect of the Lower-Tier Regular Interests pursuant to Section 4.01(a)
and Section 4.01(d) of this Agreement on such date.


 


(g)          With respect to each Serviced
Whole Loan or any related Serviced REO Property, the Master Servicer shall maintain, or cause to be maintained, a Serviced Whole
Loan Collection Account in which the Master Servicer shall deposit or cause to be deposited within two Business Days following
receipt of properly identified funds the following payments and collections received or made by or on behalf of it on such Serviced
Whole Loan or Serviced REO Property subsequent to the Cut-off Date:


 


(i)           all
payments on account of principal on such Serviced Whole Loan, including the principal component of Unscheduled Payments;


 


(ii)          all
payments on account of interest on such Serviced Whole Loan (net of the related Servicing Fees), including Prepayment Premiums,
Default Interest, Yield Maintenance Charges and the interest component of all Unscheduled Payments;


 


(iii)          any amounts
required to be deposited pursuant to Section 3.07(b), in connection with net losses realized on Permitted Investments
with respect to funds held in such Serviced Whole Loan Collection Account;


 


(iv)          all Net REO
Proceeds withdrawn from the related REO Account in respect of such Serviced Whole Loan pursuant to Section 3.15(b);


 


(v)          any amounts
received from Borrowers which represent recoveries of Property Protection Expenses and are allocable to such Serviced Whole Loan,
to the extent not permitted to be retained by the Master Servicer as provided herein;


 



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(vi)         all Insurance
Proceeds, Condemnation Proceeds and Liquidation Proceeds received in respect of such Serviced Whole Loan or any related Serviced
REO Property (other than Gain-on-Sale Proceeds and Liquidation Proceeds that are received in connection with a purchase of all
the Mortgage Loans and any REO Properties in the Trust Fund and that are to be deposited in the Lower-Tier Distribution Account
pursuant to Section 9.01), together with any amounts representing recoveries of Nonrecoverable Advances, including
any recovery of Unliquidated Advances, in respect of such Serviced Whole Loan; provided, that any Liquidation Proceeds related
to a sale pursuant to Section 3.16 hereof or pursuant to the related Intercreditor Agreement of a Mortgage Loan included
in a Serviced Whole Loan shall be deposited directly into the Collection Account and applied solely to pay expenses relating to
that Mortgage Loan and to Available Funds and any Liquidation Proceeds related to a sale of a related Serviced Companion Loan included
in a Serviced Whole Loan shall be deposited into the Serviced Whole Loan Collection Account and applied solely to pay expenses
relating to that Serviced Companion Loan and to pay amounts due to the related Serviced Companion Loan Noteholder;


 


(vii)         Penalty Charges
on such Serviced Whole Loan to the extent required to offset interest on Advances and debt service advances made by a Serviced
Companion Loan Service Provider and Additional Trust Fund Expenses pursuant to Section 3.12(d);


 


(viii)       any amounts
required to be deposited by the Master Servicer or the Special Servicer pursuant to Section 3.08(b) in connection
with losses resulting from a deductible clause in a blanket or master force placed policy in respect of such Serviced Whole
Loan;


 


(ix)          any other amounts
required by the provisions of this Agreement (including with respect to the Companion Loans or any mezzanine indebtedness that
may exist on a future date, all amounts received pursuant to the cure and purchase rights or reimbursement obligations set forth
in the related Intercreditor Agreement or mezzanine intercreditor agreement, as applicable) to be deposited into the applicable
Serviced Whole Loan Collection Account by the Master Servicer or the Special Servicer;


 


(x)           any cure payments
remitted by any Serviced Companion Loan Noteholder pursuant to the related Intercreditor Agreement; and


 


(xi)          any Compensating
Interest Payments in respect of such Serviced Whole Loan pursuant to Section 3.17(c).


 


The foregoing requirements
for deposits into the applicable Serviced Whole Loan Collection Account shall be exclusive, it being understood and agreed that,
without limiting the generality of the foregoing, payments in the nature of late payment charges (subject to Section 3.12
hereof), Assumption Fees, assumption application fees, Modification Fees, consent fees, loan service transaction fees, extension
fees, demand fees, beneficiary statement charges and similar fees need not be deposited into the applicable Serviced Whole Loan
Collection Account by the Master Servicer or the Special Servicer, as applicable, and, to the extent permitted by applicable law,
the Master Servicer or the Special Servicer, as applicable in accordance with Section 3.12 hereof, shall be entitled
to retain any such charges and fees received with respect to the Serviced






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Whole Loans as additional compensation. If the Master
Servicer deposits in the applicable Serviced Whole Loan Collection Account any amount not required to be deposited therein, it
may at any time withdraw such amount from such Serviced Whole Loan Collection Account, any provision herein to the contrary notwithstanding.


 


Each Serviced Whole Loan
Collection Account shall be maintained as a segregated account, separate and apart from any trust fund created for mortgage backed
securities of other series and the other accounts of the Master Servicer; provided, that such Serviced Whole Loan Collection
Account may be a sub-account of the Master Servicer’s Collection Account or may be maintained on a ledger basis but shall,
for purposes of this Agreement, be treated as a separate account. Each Serviced Whole Loan Collection Account shall be established
and maintained as an Eligible Account or as a sub-account of an Eligible Account.


 


Upon receipt of any of the
foregoing amounts described in clauses (i), (ii), (v) and (vi) above with respect to each Serviced Whole Loan for so long as it
is a Specially Serviced Loan but is not a Serviced REO Loan, the Special Servicer shall remit within one Business Day such amounts
to the Master Servicer for deposit into the applicable Serviced Whole Loan Collection Account in accordance with the first paragraph
of this Section 3.05(g), unless the Special Servicer determines, consistent with the applicable Servicing Standard,
that a particular item should not be deposited because of a restrictive endorsement or other appropriate reason. Any such amounts
received by the Special Servicer with respect to a Serviced REO Property related to any Serviced Whole Loan shall initially be
deposited by the Special Servicer into the related Serviced Whole Loan REO Account and remitted to the Master Servicer for deposit
into the applicable Serviced Whole Loan Collection Account pursuant to Section 3.15(b). With respect to any such amounts
paid by check to the order of the Special Servicer, the Special Servicer (A) with respect to any Specially Serviced Loan shall
endorse without recourse or warranty such check to the order of the Master Servicer and shall promptly deliver any such check to
the Master Servicer by overnight courier and (B) with respect to any REO Loan shall deposit such check into the applicable
Whole Loan REO Account.


 


(h)          Except as otherwise set forth
in Section 3.06(b), with respect to each Due Date and any related Serviced Companion Loan, on each Serviced Whole Loan Remittance
Date, the Master Servicer shall remit, from amounts on deposit in the applicable Serviced Whole Loan Collection Account in accordance
with Section 3.06(b)(i)(A), to the applicable Serviced Companion Loan Noteholder by wire transfer in immediately available
funds to the account of such Serviced Companion Loan Noteholder or an agent therefor appearing on the Serviced Companion Loan Noteholder
Register on the related date such amounts as are required to be remitted (or, if no such account so appears or information relating
thereto is not provided at least five (5) Business Days prior to the date such amounts are required to be remitted, by check sent
by first class mail to the address of such Serviced Companion Loan Noteholder or its agent appearing on the Serviced Companion
Loan Noteholder Register) the portion of the applicable Serviced Whole Loan Remittance Amount allocable to such Serviced Companion
Loan Noteholder.


 


(i)            Prior to the Master Servicer
Remittance Date relating to any Collection Period in which Gain-on-Sale Proceeds are received, the Certificate Administrator shall
establish


 






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and maintain the Gain-on-Sale Reserve Account, which may have one or more sub-accounts, to be held in its own name for
the benefit of the Trustee, for the benefit of the Certificateholders, and with respect to each Serviced Whole Loan, the related
Serviced Companion Loan Noteholders, and the Trustee as holder of the Lower-Tier Regular Interests. Each account that constitutes
an Gain-on-Sale Reserve Account shall be an Eligible Account or a sub-account of an Eligible Account. On each Master Servicer Remittance
Date, the Master Servicer shall withdraw from the Collection Account or, if allocable to any Serviced Whole Loan, the Master Servicer
shall withdraw from the applicable Serviced Whole Loan Collection Account, and remit to the Certificate Administrator (i) in
the case of the Mortgage Loans (other than the Serviced Whole Loans), for deposit in the Lower-Tier Distribution Account, as applicable
(which the Certificate Administrator shall then deposit in the Gain-on-Sale Reserve Account), and (ii) in the case of
the Serviced Whole Loans, for deposit in the Gain-on-Sale Reserve Account, all Gain-on-Sale Proceeds received during the Collection
Period ending on the Determination Date immediately prior to such Master Servicer Remittance Date which are allocable to a Mortgage
Loan or Serviced Whole Loan; provided that on the Business Day prior to the final Distribution Date, the Certificate Administrator
shall withdraw from the Gain-on-Sale Reserve Account and deposit in the Lower-Tier Distribution Account (after allocation to any
related Serviced Companion Loan as provided in Section 4.01(e)), for distribution on such Distribution Date, any and
all amounts then on deposit in the Gain-on-Sale Reserve Account attributable to the Mortgage Loans.


 


(j)            Funds in the Collection Account,
the Serviced Whole Loan Collection Account, the Distribution Accounts, the Interest Reserve Account, the Gain-on-Sale Reserve Account
and the REO Account may be invested in Permitted Investments in accordance with the provisions of Section 3.07 of this
Agreement; provided, however, that for so long as Wells Fargo Bank, National Association is the Certificate Administrator,
funds on deposit in the Distribution Accounts, the Interest Reserve Account and the Gain-on-Sale Reserve Account shall not be invested.


 


The Master Servicer shall give written
notice to the Depositor, the Trustee, the Certificate Administrator and the Special Servicer of the location and account number
of the Collection Account and, if applicable, the Serviced Whole Loan Collection Accounts as of the Closing Date and shall notify
the Depositor, the Special Servicer, the Certificate Administrator and the Trustee, as applicable, in writing on or prior to the
Closing Date and prior to any subsequent change thereof. In addition, the Master Servicer shall provide notice to each affected
holder of a Serviced Companion Loan of the location and account number of the relevant Serviced Whole Loan Collection Account as
well as notice in writing on or prior to the Closing Date and prior to any subsequent change thereof. The Certificate Administrator
shall give written notice to the Depositor, the Trustee, the Special Servicer and the Master Servicer of the location and account
number of the Interest Reserve Account and the Distribution Accounts as of the Closing Date and shall notify the Depositor, the
Trustee, the Special Servicer and the Master Servicer, as applicable, in writing prior to any subsequent change thereof.


 


Section 3.06     Permitted
Withdrawals from the Collection Accounts, the Serviced Whole Loan Collection Accounts and the Distribution Accounts; Trust
Ledger. (a)  The Master Servicer shall maintain a separate Trust Ledger with respect to the Mortgage Loans that
it is servicing on which it shall make ledger entries as to amounts deposited (or credited) or withdrawn (or debited) with
respect thereto. On each Master Servicer Remittance Date (or such


 






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other date as may be specified below or on which funds are
available for such purpose as specified below), with respect to each Mortgage Loan (other than any Mortgage Loan related to a
Serviced Whole Loan unless otherwise specified in clauses (i), (ii), (v), (vi), (x), (xi), (xii), (xiii), (xv), (xvi)
and (xvii) of this Section 3.06(a)), the Master Servicer shall make withdrawals from amounts
allocated thereto in the Collection Account (and may debit the Trust Ledger) for the purposes listed below (the order set
forth below not constituting an order of priority for such withdrawals):


 


(i)        on or before
3:00 p.m. (New York City time) on each Master Servicer Remittance Date, to remit to the Certificate Administrator the amounts
to be deposited into the Lower-Tier Distribution Account (including any amount transferred from the Serviced Whole Loan Collection
Account in respect of each Mortgage Loan that is part of a Serviced Whole Loan) (including without limitation the aggregate of
the Available Funds, Prepayment Premiums, Yield Maintenance Charges and Gain-on-Sale Proceeds) which the Certificate Administrator
shall then deposit into the Upper-Tier Distribution Account, the Interest Reserve Account and the Gain-on-Sale Reserve Account,
pursuant to Section 3.05(f), Section 3.05(e) and Section 3.05(i) of this Agreement, respectively;


 


(ii)       to pay (A) itself
unpaid Servicing Fees (or, with respect to any Excess Servicing Fee Rights, to pay any Excess Servicing Fees to the holder of such
Excess Servicing Fee Rights pursuant to Section 3.12(a) of this Agreement); the Operating Advisor, unpaid Operating
Advisor Fees; and the Special Servicer, unpaid Special Servicing Fees, Liquidation Fees and Workout Fees in respect of each Mortgage
Loan, Specially Serviced Loan and Serviced REO Loan (exclusive of each Mortgage Loan or Serviced REO Loan included in a Serviced
Whole Loan), as applicable, the Master Servicer’s, the Operating Advisor’s or Special Servicer’s, as applicable,
rights to payment of Servicing Fees, Operating Advisor Fees and Special Servicing Fees, Liquidation Fees and Workout Fees pursuant
to this clause (ii)(A) with respect to any Mortgage Loan, Specially Serviced Loan or Serviced REO Loan (exclusive of
each Mortgage Loan or Serviced REO Loan included in a Serviced Whole Loan), as applicable, being limited to amounts received on
or in respect of such Mortgage Loan, Specially Serviced Loan or REO Loan, as applicable (whether in the form of payments, Liquidation
Proceeds, Insurance Proceeds or Condemnation Proceeds), that are allocable as recovery of interest thereon, (B) the Special
Servicer, any unpaid Special Servicing Fees, Liquidation Fees and Workout Fees in respect of each Specially Serviced Loan or Serviced
REO Loan, as applicable, remaining unpaid out of general collections on the Mortgage Loans, Specially Serviced Loans and REO Properties,
but in the case of each Serviced Whole Loan, only to the extent that amounts on deposit in the applicable Serviced Whole Loan Collection
Account are insufficient therefor (provided that the Master Servicer shall, after receiving payment from amounts on deposit
in the Collection Account, if any, (i) promptly notify the related Companion Loan Noteholder and (ii) use commercially
reasonable efforts to exercise on behalf of the Trust any rights under the related Intercreditor Agreement to obtain reimbursement
for a pro rata portion of such amount allocable to the related Serviced Companion Loans from the related Companion Loan
Noteholders), (C) each month to the Other Servicer or Other Special Servicer, as applicable, the Trust’s pro rata
portion (based on the related Mortgage Loan’s Stated Principal Balance) of any unpaid special servicing fees, liquidation
fees, workout fees and additional trust expenses in


 



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respect of a Non-Serviced Mortgage Loan remaining unpaid (including amounts
payable to such parties under Section 1.04 of this Agreement), out of general collections on the Mortgage Loans, Specially
Serviced Loans and REO Properties, (D) the Operating Advisor, any unpaid Operating Advisor Consulting Fees (but only to the
extent such Operating Advisor Consulting Fees were received from the related Borrower) and (E) the Asset Representations Reviewer,
the unpaid Asset Representations Reviewer Asset Review Fee (to the extent such fee is to be paid by the Trust Fund) payable in
connection with any Asset Review that was performed as a result of an Affirmative Asset Review Vote;


 


(iii)      to reimburse
the Trustee or itself, in that order, for unreimbursed P&I Advances (other than Nonrecoverable Advances, which are reimbursable
pursuant to clause (v) below, and exclusive of the Mortgage Loans or Serviced REO Loans included in the Serviced Whole Loans)
the Master Servicer’s or the Trustee’s right to reimbursement pursuant to this clause (iii) being limited to amounts
received which represent Late Collections for the applicable Mortgage Loan (exclusive of the Mortgage Loan or Serviced REO Loan
included in the Serviced Whole Loan; provided, that to the extent such amounts are insufficient to repay such P&I Advances
on any Mortgage Loan as to which there is a related Serviced Subordinate Companion Loan, such P&I Advances may be reimbursed,
on a pro rata basis with any reimbursement to the related Serviced Companion Loan Service Provider for unreimbursed principal
and/or interest advances with respect to any related Serviced Pari Passu Companion Loan, from collections on the related Serviced
Whole Loan allocable to such Serviced Subordinate Companion Loan) during the applicable period; provided, further,
that if such P&I Advance becomes a Workout-Delayed Reimbursement Amount, then such P&I Advance shall thereafter be reimbursed
from amounts recovered on the related Mortgage Loan intended by the modified loan documents to be applied to reimburse such Workout-Delayed
Reimbursement Amount and then from the portion of general collections and recoveries on or in respect of all of the Mortgage Loans
and REO Properties on deposit in the Collection Account from time to time that represent collections or recoveries of principal
to the extent provided in clause (v) below;


 


(iv)      to reimburse
the Trustee or itself, in that order, (with respect to any Mortgage Loan or Serviced REO Property) (exclusive of the Mortgage Loans
or Serviced REO Loans included in the Serviced Whole Loans or any Serviced REO Property securing any Serviced Whole Loan), for
unreimbursed Servicing Advances, the Master Servicer’s or the Trustee’s respective rights to receive payment pursuant
to this clause (iv) with respect to any Mortgage Loan or Serviced REO Property being limited to, as applicable, payments
received from the related Borrower which represent reimbursements of such Servicing Advances, Liquidation Proceeds, Insurance Proceeds,
Condemnation Proceeds and REO Proceeds with respect to the applicable Mortgage Loan or Serviced REO Property; provided,
that if such Servicing Advance becomes a Workout-Delayed Reimbursement Amount, then such Servicing Advance shall thereafter be
reimbursed from amounts recovered on the related Mortgage Loan intended by the modified loan documents to be applied to reimburse
such Workout-Delayed Reimbursement Amount and then from the portion of general collections and recoveries on or in respect of the
Mortgage Loans and REO Properties on deposit in the Collection


 



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Account from time to time that represent collections or recoveries
of principal to the extent provided in clause (v) below;


 


(v)       (A) to
reimburse the Trustee or itself, in that order (with respect to any Mortgage Loan or Serviced REO Property), (1) with respect
to Nonrecoverable Advances, first, out of Liquidation Proceeds, Insurance Proceeds, Condemnation Proceeds and REO Proceeds,
if any, received on the related Mortgage Loan and related REO Properties, second, out of the principal portion of general
collections on the Mortgage Loans and REO Properties, and then, to the extent the principal portion of general collections
is insufficient and with respect to such deficiency only, subject to any election at its sole discretion (or at the Trustee’s
sole discretion for the reimbursement of the Trustee) to defer reimbursement thereof pursuant to this Section 3.06(a)
of this Agreement, out of other collections on the Mortgage Loans and REO Properties and (2) with respect to the Workout-Delayed
Reimbursement Amounts, out of the principal portion of the general collections on the Mortgage Loans and REO Properties, net of
such amounts being reimbursed pursuant to the preceding clause (1) above, but in the case of either clause (1) or (2)
above with respect to each Serviced Whole Loan, only to the extent that amounts on deposit in the applicable Serviced Whole Loan
Collection Account are insufficient therefor after taking into account any allocation set forth in the related Intercreditor Agreement
(provided that the Master Servicer shall, after receiving payment from amounts on deposit in the Collection Account, if
any, (i) promptly notify the related Companion Loan Noteholder and (ii) use commercially reasonable efforts to exercise
on behalf of the Trust any rights under the related Intercreditor Agreement to obtain reimbursement for a pro rata portion
(or such other amount as may be set forth in the related Intercreditor Agreement) of such amount representing Servicing Advances
allocable to the related Serviced Companion Loans from the related Companion Loan Noteholders), and (B) to pay itself or the
Special Servicer out of general collections on the Mortgage Loans and REO Properties, with respect to any Mortgage Loan or Serviced
REO Property any related earned Servicing Fee, Special Servicing Fee, Liquidation Fee or Workout Fee, as applicable, that remained
unpaid in accordance with clause (ii) above following a Final Recovery Determination made with respect to such Mortgage Loan
or Serviced REO Property and the deposit into the Collection Account of all amounts received in connection therewith, but in the
case of each Serviced Whole Loan, only to the extent that amounts on deposit in the applicable Serviced Whole Loan Collection Account
are insufficient therefor (provided that the Master Servicer shall, after receiving payment from amounts on deposit in the
Collection Account, if any, (i) promptly notify the related Companion Loan Noteholder and (ii) use commercially reasonable
efforts to exercise on behalf of the Trust any rights under the related Intercreditor Agreement to obtain reimbursement for a pro
rata portion of such amount allocable to the related Serviced Companion Loans from the related Companion Loan Noteholders)
and (C) to reimburse the related Other Servicer, the related Other Special Servicer and the related Other Trustee, as applicable,
out of general collections on the Mortgage Loans and REO Properties for the Trust’s pro rata portion (based on the
related Non-Serviced Mortgage Loan’s Stated Principal Balance) of nonrecoverable servicing advances previously made with
respect to the related Non-Serviced Mortgage Loans;


 



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(vi)      (A) at such
time as it reimburses the Trustee or itself, in that order (with respect to any Mortgage Loan or Serviced REO Property), for (1) any
unreimbursed P&I Advance (including any such P&I Advance that constitutes a Workout-Delayed Reimbursement Amount) made
with respect to a Mortgage Loan pursuant to clause (iii) above, to pay itself or the Trustee, as applicable, any Advance Interest
Amounts accrued and payable thereon, (2) any unreimbursed Servicing Advances (including any such Advance that constitutes
a Workout-Delayed Reimbursement Amount) made with respect to a Mortgage Loan or Serviced REO Property pursuant to clause (iv)
above, to pay itself or the Trustee, as the case may be, any Advance Interest Amounts accrued and payable thereon or (3) any Nonrecoverable
P&I Advances made with respect to a Mortgage Loan or Serviced REO Property and any Nonrecoverable Servicing Advances made with
respect to a Mortgage Loan or REO Property or any Workout-Delayed Reimbursement Amounts pursuant to clause (v) above, to pay
itself or the Trustee, as the case may be, any Advance Interest Amounts accrued and payable thereon, in each case, first, from
Penalty Charges as provided in Section 3.12(d) and then, from general collections, but in the case of a Serviced Whole Loan
only to the extent that such Nonrecoverable Advance has been reimbursed and only to the extent that amounts on deposit in the applicable
Serviced Whole Loan Collection Account are insufficient therefor after taking into account any allocation set forth in the related
Intercreditor Agreement (provided that the Master Servicer shall, after receiving payment from amounts on deposit in the
Collection Account, if any, (i) promptly notify the related Companion Loan Noteholder and (ii) use commercially reasonable
efforts to exercise on behalf of the Trust any rights under the related Intercreditor Agreement to obtain reimbursement for a pro
rata portion of such amount representing Advance Interest Amounts on Servicing Advances allocable to the related Serviced Companion
Loans from the related Companion Loan Noteholders) and (B) at such time as it reimburses the related Other Servicer, the related
Other Special Servicer and the related Other Trustee, as applicable, for any nonrecoverable servicing advances made with respect
to any related Non-Serviced Mortgage Loan or the related REO Property pursuant to clause (v) above, to pay the related Other
Servicer, the related Other Special Servicer and the related Other Trustee, as applicable, any interest accrued and payable thereon;


 


(vii)     to reimburse
itself, the Special Servicer, the Custodian, the Certificate Administrator or the Trustee, as the case may be, for any unreimbursed
expenses reasonably incurred by such Person in respect of any Breach or Defect giving rise to a repurchase or substitution obligation
of the applicable Mortgage Loan Seller or any other obligation of the applicable Mortgage Loan Seller under Section 6 of the
applicable Mortgage Loan Purchase Agreement, including, without limitation, any expenses arising out of the performance of its
duties under Section 2.03 of this Agreement or out of the enforcement of the repurchase or substitution obligation of the
applicable Mortgage Loan Seller or any other obligation of the applicable Mortgage Loan Seller under Section 6 of the applicable
Mortgage Loan Purchase Agreement, together with interest thereon at the Reimbursement Rate, each such Person’s right to reimbursement
pursuant to this clause (vii) with respect to any Mortgage Loan exclusive of any Mortgage Loan included in the Serviced Whole
Loan) subject to the following: (a) if the Purchase Price is paid for such Mortgage Loan, then such Person’s right to
reimbursement shall be limited to that portion of the Purchase Price that represents such expense in accordance with clause (f)
of


 






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the definition of Purchase Price, or (b) if no Purchase Price is paid or if an amount less than the Purchase Price is paid
and proceedings are instituted to enforce the related Mortgage Loan Seller’s payment or performance pursuant to the applicable
Mortgage Loan Purchase Agreement or if a Loss of Value Payment is made, then such Person shall be entitled to reimbursement from
the Trust following the adjudication of such proceedings in favor of such Mortgage Loan Seller, settlement of the Breach or Defect
claim, or payment of such Loss of Value Payment, as the case may be;


 


(viii)    to pay itself
all Prepayment Interest Excesses on the Mortgage Pool (exclusive of any Mortgage Loan or Serviced REO Loan included in the Serviced
Whole Loan) not required to be used pursuant to Section 3.17(c) of this Agreement;


 


(ix)       (A) to pay
itself, as additional servicing compensation in accordance with Section 3.12(a) of this Agreement, (1) interest
and investment income earned in respect of amounts relating to the Trust Fund held in the Collection Account as provided in Section 3.12(b)
of this Agreement (but only to the extent of the net investment earnings with respect to such Collection Account for any period
from any Distribution Date to the immediately succeeding Master Servicer Remittance Date) and (2) Penalty Charges on the
Mortgage Loans that are non-Specially Serviced Loans (exclusive of any Mortgage Loan or Serviced REO Loan included in a Serviced
Whole Loan), but only to the extent collected from the related Borrower and only to the extent that all amounts then due and payable
with respect to the related Mortgage Loan have been paid and are not needed to pay interest on Advances in accordance with Section 3.12
and/or pay or reimburse the Trust for Additional Trust Fund Expenses incurred with respect to such Mortgage Loan during or prior
to the related Collection Period (including Special Servicing Fees, Workout Fees or Liquidation Fees); and (B) to pay the
Special Servicer, as additional servicing compensation in accordance with Section 3.12(b), Net Default Interest and
any other Penalty Charges on Specially Serviced Loans (exclusive of any Mortgage Loan or Serviced REO Loan included in the Serviced
Whole Loan), but only to the extent collected from the related Borrower and only to the extent that all amounts then due and payable
with respect to the related Specially Serviced Loan have been paid and are not needed to pay interest on Advances or Additional
Trust Fund Expenses (including Special Servicing Fees, Workout Fees or Liquidation Fees), all in accordance with Section 3.12;


 


(x)       to pay itself,
the Special Servicer, the Depositor, the Operating Advisor or any of their respective directors, officers, members, managers, employees
and agents, as the case may be, any amounts payable to any such Person pursuant to Section 6.03(a) of this Agreement
(and in the case of a Serviced Whole Loan, only to the extent that such amounts on deposit in the applicable Serviced Whole Loan
Collection Account are insufficient therefor after taking into account any allocation set forth in the related Intercreditor Agreement
(provided that the Master Servicer shall, after receiving payment from amounts on deposit in the Collection Account, if
any, (i) promptly notify the related Companion Loan Noteholder and (ii) use commercially reasonable efforts to exercise
on behalf of the Trust any rights under the related Intercreditor Agreement to obtain reimbursement for a pro rata portion
of such amount allocable to the related Serviced Companion Loans from the related Companion Loan Noteholders)); provided,
that for the purposes of allocating Additional Trust Fund Expenses, (i) any amounts so paid shall be


 






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deemed allocated, (a) if
relating to a particular Mortgage Loan, to such Mortgage Loan and (b) if not related to any particular Mortgage Loan, pro
rata, among all Mortgage Loans based on the respective Stated Principal Balances of the Mortgage Loans;


 


(xi)       to
pay for the cost of the Opinions of Counsel contemplated by Sections 3.10(d), 3.10(e), 3.15(a), 3.15(b) and 12.08
of this Agreement (and in the case of a Serviced Whole Loan, only to the extent that such amounts on deposit in the
applicable Serviced Whole Loan Collection Account are insufficient therefor after taking into account any allocation
set forth in the related Intercreditor Agreement (provided that the Master Servicer shall, after receiving payment
from amounts on deposit in the Collection Account, if any, (i) promptly notify the related Companion Loan Noteholder and
(ii) use commercially reasonable efforts to exercise on behalf of the Trust any rights under the related Intercreditor
Agreement to obtain reimbursement for a pro rata portion of such amount allocable to the related Serviced Companion
Loans from the related Companion Loan Noteholders)); provided, that for the purposes of allocating Additional Trust
Fund Expenses, (i) any amounts so paid shall be deemed allocated, (a) if relating to a particular Mortgage Loan, to
such Mortgage Loan and (b) if not related to any particular Mortgage Loan, pro rata, among all Mortgage Loans
based on the respective Stated Principal Balances of the Mortgage Loans;


 


(xii)      to pay out
of general collections on the Mortgage Loans and REO Properties any and all federal, state and local taxes imposed on the Lower-Tier
REMIC, the Upper-Tier REMIC or any of their assets or transactions, together with all incidental costs and expenses, to the extent
that none of the Master Servicer, the Special Servicer or the Trustee is liable therefor pursuant to this Agreement, except to
the extent such amounts relate solely to the Serviced Whole Loans, in which case, such amounts will be reimbursed, first,
out of the related Serviced Whole Loan Collection Account from collections on the related Serviced Companion Loan and the related
Mortgage Loan on a pro rata basis by principal balance, and second, to the extent any such costs and expenses remain
unreimbursed, out of the Collection Account; provided, that for the purposes of allocating Additional Trust Fund Expenses,
(i) any amounts so paid shall be deemed allocated, (a) if relating to a particular Mortgage Loan, to such Mortgage Loan
and (b) if not related to any particular Mortgage Loan, pro rata, among all Mortgage Loans based on the respective
Stated Principal Balances of the Mortgage Loans;


 


(xiii)     to reimburse
the Trustee, the Custodian or the Certificate Administrator out of general collections on the Mortgage Loans and REO Properties for
expenses incurred by and reimbursable to it by the Trust Fund, except to the extent such amounts relate solely to a Serviced Whole
Loan, in which case, such amounts will be reimbursed first, from the applicable Serviced Whole Loan Collection Account(s)
in accordance with Section 3.06(b) and then, out of general collections on the Mortgage Loans; provided,
that for the purposes of allocating Additional Trust Fund Expenses, (i) any amounts so paid shall be deemed allocated, (a) if
relating to a particular Mortgage Loan, to such Mortgage Loan and (b) if not related to any particular Mortgage Loan, pro
rata, among all Mortgage Loans based on the respective Stated Principal Balances of the Mortgage Loans;


 


(xiv)    to pay any
Person permitted to purchase a Mortgage Loan under Section 3.16 of this Agreement with respect to each Mortgage Loan
(exclusive of any


 



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Mortgage Loan included in the Serviced Whole Loan), if any, previously purchased by such Person pursuant to this
Agreement, all amounts received thereon subsequent to the date of purchase relating to periods after the date of purchase;


 


(xv)     to pay to itself,
the Special Servicer, the Trustee, the Certificate Administrator, the Custodian, the Operating Advisor, the Asset Representations
Reviewer or the Depositor, as the case may be, any amount specifically required to be paid to such Person at the expense of the
Trust Fund under any provision of this Agreement to which reference is not made in any other clause of this Section 3.06(a)
of this Agreement (and, in the case of an amount specifically related to a Serviced Whole Loan, only to the extent that such amounts
on deposit in the applicable Serviced Whole Loan Collection Account are insufficient therefor after taking into account any allocation
set forth in the related Intercreditor Agreement (provided that the Master Servicer shall, after receiving payment from
amounts on deposit in the Collection Account, if any, (i) promptly notify the related Companion Loan Noteholder and (ii) use
commercially reasonable efforts to exercise on behalf of the Trust any rights under the related Intercreditor Agreement to obtain
reimbursement for a pro rata portion of such amount allocable to the related Serviced Companion Loans from the related Companion
Loan Noteholders)), it being acknowledged that this clause (xv) shall not be construed to modify any limitation or requirement
otherwise set forth in this Agreement as to the time at which any Person is entitled to payment or reimbursement of any amount
or as to the funds from which any such payment or reimbursement is permitted to be made; provided, that (i) any amounts
so paid shall be deemed allocated, (a) if relating to a particular Mortgage Loan, to such Mortgage Loan and (b) if not
related to any particular Mortgage Loan, pro rata, among all Mortgage Loans based on the respective Stated Principal Balances
of the Mortgage Loans;


 


(xvi)    to withdraw
from the Collection Account any sums deposited therein in error and pay such sums to the Persons entitled thereto (including any
amounts relating to a Mortgage Loan that is part of a Serviced Whole Loan);


 


(xvii)  to pay from
time to time to itself in accordance with Section 3.07(b) of this Agreement any interest or investment income earned
on funds deposited in the Collection Account;


 


(xviii)  to transfer
Gain-on-Sale Proceeds allocable to Mortgage Loans to the Lower-Tier Distribution Account for deposit by the Certificate Administrator
into the Gain-on-Sale Reserve Account in accordance with Section 3.05(i) of this Agreement;


 


(xix)     to pay itself,
the Special Servicer or the related Mortgage Loan Seller, as the case may be, with respect to each Mortgage Loan, if any, previously
purchased or substituted (i.e., replaced) by such Person pursuant to or as contemplated by this Agreement, all amounts received
on such Mortgage Loan subsequent to the date of purchase or substitution, and, in the case of a substitution, with respect to the
related Qualified Substitute Mortgage Loan(s), all Periodic Payments due thereon during or prior to the month of substitution,
in accordance with the third paragraph of Section 2.03(g) of this Agreement;


 



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(xx)      to pay to the
Certificate Administrator, the Trustee, the Custodian or any of their directors, officers, employees, representatives and agents,
as the case may be, any amounts payable or reimbursable to any such Person pursuant to Section 8.05(d) of this Agreement;
provided, that any amounts so paid shall be deemed allocated, (a) if relating to a particular Mortgage Loan, to
such Mortgage Loan and (b) if not related to any particular Mortgage Loan, pro rata, among all Mortgage Loans based
on the respective Stated Principal Balances of the Mortgage Loans;


 


(xxi)     pursuant to
the CREFC® License Agreement, to pay the CREFC® Intellectual Property Royalty License Fee to
CREFC® on a monthly basis; and


 


(xxii)    to clear
and terminate the Collection Account at the termination of this Agreement pursuant to Section 9.01 of this Agreement.


 


The Master Servicer shall pay to the
Special Servicer from the Collection Account amounts permitted to be paid to it therefrom promptly upon receipt of a certificate
of a Servicing Officer of the Special Servicer describing the item and amount to which the Special Servicer is entitled. The Master
Servicer may rely conclusively on any such certificate and shall have no duty to re-calculate the amounts stated therein. The Special
Servicer shall keep and maintain separate accounting for each Specially Serviced Loan and Serviced REO Loan and any related Serviced
Companion Loan, on a loan-by-loan and property-by-property basis, for the purpose of justifying any request for withdrawal from
the Collection Account.


 


The Master Servicer shall keep and
maintain separate accounting records, on a Mortgage Loan by Mortgage Loan basis, reflecting amounts allocable to each Mortgage
Loan, and on a property-by-property basis when appropriate, for the purpose of justifying any withdrawal, debit or credit from
the Collection Account or the Trust Ledger. Upon written request, the Master Servicer shall provide to the Certificate Administrator
such records and any other information in the possession of the Master Servicer to enable the Certificate Administrator to determine
the amounts attributable to (i) the Lower-Tier REMIC with respect to the Mortgage Loans and (ii) the Companion Loans.


 


The Master Servicer shall pay to the
Trustee, the Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer, the Special Servicer, the Other
Trustee, the Other Servicer or the Other Special Servicer, from the Collection Account amounts permitted to be paid to such person
therefrom, promptly upon receipt of a certificate of a Responsible Officer of the Trustee, a responsible officer of the Other Trustee,
a Responsible Officer of the Certificate Administrator, a certificate of an officer of the Operating Advisor, a certificate of
an officer of the Asset Representations Reviewer, a certificate of a Servicing Officer or a certificate of the Other Servicer or
Other Special Servicer, as applicable, describing the item and amount to which such Person is entitled (unless such payment to
the Trustee, the Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer, the Special Servicer, the
Other Trustee, the Other Servicer or Other Special Servicer, as the case may be, is specifically required pursuant to this Agreement
and the timing and the amount of payment is specified in, or calculable pursuant to, this Agreement, in which case a certificate
is not required). The Master Servicer may rely conclusively on any such certificate and shall have no duty to recalculate the amounts
stated therein.


 



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The Trustee, the Certificate Administrator,
the Custodian, the Special Servicer, the Master Servicer, CREFC®, the Operating Advisor, the Asset Representations
Reviewer and the Non-Serviced Mortgage Loan Service Providers (to the extent specified in Section 12.12) shall in all
cases have a right prior to the Certificateholders to any funds on deposit in the Collection Account from time to time for the
reimbursement or payment of the Servicing Compensation (including investment income), Certificate Administrator/Trustee Fees, Special
Servicing Compensation (including investment income), the CREFC® Intellectual Property Royalty License Fee, Operating
Advisor Fees, Operating Advisor Consulting Fees (but only to the extent such Operating Advisor Consulting Fees are actually received
from the Borrowers), the Asset Representations Reviewer Asset Review Fee (to the extent owed by the Trust pursuant to Section 11.02(c)
of this Agreement), Advances, Advance Interest Amounts (for each of such Persons other than CREFC®), their respective
indemnification payments (if any) pursuant to Section 6.03, Section 8.05 or Section 12.02 of this
Agreement (for each of such Persons other than CREFC®), their respective expenses hereunder to the extent such fees
and expenses are to be reimbursed or paid from amounts on deposit in the Collection Account pursuant to this Agreement. For the
avoidance of doubt, any fees or expenses (including legal fees) for which a party is to be indemnified pursuant to Section 6.03
herein may be submitted directly to the Trust Fund and paid from amounts on deposit in the Collection Account on behalf of such
party pursuant to this Agreement. In addition, the Certificate Administrator, the Trustee, the Special Servicer, the Master Servicer,
the Operating Advisor and the Asset Representations Reviewer shall in all cases have a right prior to the Certificateholders to
any funds on deposit in the Collection Account from time to time for the reimbursement and payment of any federal, state or local
taxes imposed on any Trust REMIC.


 


Upon the determination that a previously
made Advance is a Nonrecoverable Advance, to the extent that the reimbursement thereof would exceed the full amount of the principal
portion of general collections on the Mortgage Loans (or with respect to Servicing Advances, the Serviced Whole Loans) deposited
in the Collection Account and available for distribution on the next Distribution Date, the Master Servicer or the Trustee, each
at its own option and in its sole discretion, as applicable, instead of obtaining reimbursement for the remaining amount of such
Nonrecoverable Advance pursuant to Section 3.06(a) or Section 3.06(b) of this Agreement immediately, may
elect to refrain from obtaining such reimbursement for such portion of the Nonrecoverable Advance during the Collection Period
ending on the then-current Determination Date for successive one-month periods for a total period not to exceed 12 months (with
the consent of the Directing Holder, for so long as no Control Termination Event has occurred and is continuing, for any deferral
in excess of 6 months). If the Master Servicer or the Trustee makes such an election at its sole option and in its sole discretion
to defer reimbursement with respect to all or a portion of a Nonrecoverable Advance (together with interest thereon), then such
Nonrecoverable Advance (together with interest thereon) or portion thereof shall continue to be fully reimbursable in the subsequent
Collection Period (subject, again, to the same sole discretion to elect to defer; it is acknowledged that, in such a subsequent
period, such Nonrecoverable Advance shall again be payable first from principal collections as described above prior to
payment from other collections). In connection with a potential election by the Master Servicer or the Trustee to refrain from
the reimbursement of a particular Nonrecoverable Advance or portion thereof during the one-month Collection Period ending on the
related Determination Date for any Distribution Date, the Master Servicer or the Trustee shall further be authorized (in its sole
discretion) to wait for principal collections


 






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on the Mortgage Loans and Serviced Companion Loans to be received before making its
determination of whether to refrain from the reimbursement of a particular Nonrecoverable Advance (or portion thereof) until the
end of such Collection Period; provided, the Master Servicer or the Trustee shall give notice of its election to the 17g-5
Information Provider (who shall promptly post such notice to the 17g-5 Information Provider’s Website pursuant to Section 3.14(d)
of this Agreement), at least 15 days prior to any reimbursement to it of Nonrecoverable Advances from amounts in the Collection
Account allocable to interest on the Mortgage Loans unless (1) the Master Servicer or the Trustee determines in its sole discretion
that waiting 15 days after such a notice could jeopardize its ability to recover Nonrecoverable Advances, (2) changed circumstances
or new or different information becomes known to the Master Servicer or the Trustee that could affect or cause a determination
of whether any Advance is a Nonrecoverable Advance, whether to defer reimbursement of a Nonrecoverable Advance or the determination
in clause (1) above, or (3) the Master Servicer or the Trustee has not timely received from the Certificate Administrator
information requested by the Master Servicer or the Trustee to consider in determining whether to defer reimbursement of a Nonrecoverable
Advance; provided that, if clause (1), (2) or (3) apply, the Master Servicer or the Trustee shall give notice of an
anticipated reimbursement to it of Nonrecoverable Advances from amounts in the Collection Account allocable to interest on the
Mortgage Loans as soon as reasonably practicable in such circumstances to the 17g-5 Information Provider (who shall promptly post
such notice to the 17g-5 Information Provider’s Website pursuant to Section 3.14(d) of this Agreement). Neither
the Master Servicer nor the Trustee shall have any liability for any loss, liability or expense resulting from any notice provided
to each Rating Agency contemplated by the immediately preceding sentence.


 


The foregoing shall not, however, be
construed to limit any liability that may otherwise be imposed on such Person for any failure by such Person to comply with the
conditions to making such an election under this Section 3.06(a) or to comply with the terms of this Section 3.06(a)
and the other provisions of this Agreement that apply once such an election, if any, has been made. If the Master Servicer or the
Trustee, as applicable, determines, in its sole discretion, that it should recover the Nonrecoverable Advances without deferral
as described above, then the Master Servicer or the Trustee, as applicable, shall be entitled to immediate reimbursement of Nonrecoverable
Advances with interest thereon at the Reimbursement Rate from all amounts in the Collection Accounts for such Distribution Date.
Any such election by any such party to refrain from reimbursing itself or obtaining reimbursement for any Nonrecoverable Advance
or portion thereof with respect to any one or more Collection Periods shall not limit the accrual of interest at the Reimbursement
Rate on such Nonrecoverable Advance for the period prior to the actual reimbursement of such Nonrecoverable Advance. The Master
Servicer’s or the Trustee’s, as applicable, election to defer reimbursement of such Nonrecoverable Advances as set
forth above is an accommodation to the Certificateholders and, as applicable, the Serviced Companion Loan Noteholders and shall
not be construed as an obligation on the part of the Master Servicer or the Trustee, as applicable, or a right of the Certificateholders
or the Serviced Companion Loan Noteholders. Nothing herein shall be deemed to create in the Certificateholders or the Serviced
Companion Loan Noteholders a right to prior payment of distributions over the Master Servicer’s or the Trustee’s, as
applicable, right to reimbursement for Advances (deferred or otherwise). In all events, the decision to defer reimbursement or
to seek immediate reimbursement of Nonrecoverable Advances shall be deemed to be in accordance with the Servicing Standard and
neither the Master Servicer, the


 



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Trustee nor the other parties to this Agreement shall have any liability to one another or to
any of the Certificateholders or any of the Serviced Companion Loan Noteholders for any such election that such party makes as
contemplated by this Section 3.06(a) or for any losses, damages or other adverse economic or other effects that may
arise from such an election.


 


None of the Master Servicer, the Special
Servicer or the Trustee shall be permitted to reverse any other Person’s determination, or to prohibit any such other authorized
Person from making a determination, that an Advance constitutes, or would constitute a Nonrecoverable Advance.


 


If the Master Servicer, the Trustee
or any Non-Serviced Mortgage Loan Service Provider, as applicable, is reimbursed out of general collections for any unreimbursed
Advances that are determined to be Nonrecoverable Advances (together with any Advance Interest Amount), then (for purposes of calculating
distributions on the Certificates) such reimbursement and payment of interest shall be deemed to have been made: first,
out of the Principal Distribution Amount, which, but for its application to reimburse a Nonrecoverable Advance and/or to pay the
Advance Interest Amount, would be included in Available Funds for any subsequent Distribution Date and, second, out of other
amounts which, but for their application to reimburse a Nonrecoverable Advance and/or to pay the Advance Interest Amount, would
be included in Available Funds for any subsequent Distribution Date.


 


If and to the extent that any payment
is deemed to be applied as contemplated in the paragraph above to reimburse a Nonrecoverable Advance or to pay the Advance Interest
Amount, then the Principal Distribution Amount for such Distribution Date shall be reduced, to not less than zero, by the amount
of such reimbursement. If and to the extent (i) any Advance is determined to be a Nonrecoverable Advance, (ii) such Advance
and/or the Advance Interest Amount is reimbursed out of the Principal Distribution Amount as contemplated above and (iii) the
particular item for which such Advance was originally made is subsequently collected out of payments or other collections in respect
of the related Mortgage Loan, then the Principal Distribution Amount for the Distribution Date that corresponds to the Collection
Period in which such item was recovered shall be increased by an amount equal to the lesser of (A) the amount of such item
and (B) any previous reduction in the Principal Distribution Amount for a prior Distribution Date as contemplated in the paragraph
above resulting from the reimbursement of the subject Advance and/or the payment of the Advance Interest Amount.


 


(b)          The Master Servicer shall maintain
a separate Trust Ledger with respect to the Serviced Whole Loans that it is servicing on which it shall make ledger entries as
to amounts deposited (or credited) or withdrawn (or debited) with respect thereto. On each Master Servicer Remittance Date (or
such other date as may be specified below or on which funds are available for such purpose as specified below), with respect to
each Serviced Whole Loan, the Master Servicer shall make withdrawals from amounts allocated thereto in the related Serviced Whole
Loan Collection Account (and may debit the Trust Ledger) for any of the following purposes (the order set forth below not constituting
an order of priority for such withdrawals):


 


(i)            to make remittances
each month in an aggregate amount of immediately available funds equal to the allocable portion of the applicable Serviced Whole
Loan Remittance Amount (A) to the related Serviced Companion Loan Noteholders within the time frame specified in, and otherwise
in accordance with Section 3.05(h) and (B) to the


 






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Collection Account for the benefit of the Trust in respect of amounts
allocable to the related Mortgage Loan, in each case in accordance with the related Intercreditor Agreement (after taking into
account the amounts permitted to be withdrawn from the Serviced Whole Loan Collection Account pursuant to this Section 3.06(b))
provided that Liquidation Proceeds relating to the repurchase of any Serviced Companion Loan by the related seller thereof shall
be remitted solely to the holder of such Serviced Companion Loan, as the case may be, and Liquidation Proceeds relating to the
repurchase of a Mortgage Loan related to a Serviced Whole Loan by the related Mortgage Loan Seller shall be remitted solely to
the Collection Account;


 


(ii)           to pay (A) to
itself unpaid Servicing Fees (or, with respect to any Excess Servicing Fee Rights, to pay any Excess Servicing Fees to the holder
of such Excess Servicing Fee Rights pursuant to Section 3.12(a) of this Agreement) and to the Special Servicer unpaid Special
Servicing Fees, Liquidation Fees and Workout Fees in respect of such Serviced Whole Loan or related Serviced REO Loan, as applicable,
the Master Servicer’s or the Special Servicer’s, as applicable, rights to payment of Servicing Fees, Special Servicing
Fees, Liquidation Fees and Workout Fees, as applicable, pursuant to this clause (ii)(A) with respect to such Serviced
Whole Loan or related Serviced REO Loan, as applicable, being limited to amounts received on or in respect of such Serviced Whole
Loan (whether in the form of payments, Liquidation Proceeds, Insurance Proceeds or Condemnation Proceeds), or such Serviced REO
Loan (whether in the form of REO Proceeds, Liquidation Proceeds, Insurance Proceeds or Condemnation Proceeds), that are allocable
as recovery of interest thereon and (B) to the Special Servicer, each month to the extent not covered by clause (ii)(A)
above, any unpaid Special Servicing Fees, Liquidation Fees and Workout Fees in respect of such Serviced Whole Loan or related Serviced
REO Loan, as applicable, remaining unpaid out of general collections in the Collection Account as provided in Section 3.06(a)(ii)
of this Agreement;


 


(iii)          to reimburse
the Trustee or itself, in that order, for unreimbursed P&I Advances with respect to the applicable Mortgage Loan and to reimburse
the related Serviced Companion Loan Service Provider for unreimbursed principal and/or interest advances with respect to the applicable
Serviced Companion Loan, the Master Servicer’s, the Trustee’s and the applicable Serviced Companion Loan Service Provider’s
right to reimbursement pursuant to this clause (iii) being limited to amounts received in the applicable Serviced Whole Loan
Collection Account which represent Late Collections received in respect of such Mortgage Loan or Serviced Companion Loan, as applicable
(as allocable thereto pursuant to the related Loan Documents and the related Intercreditor Agreement), during the applicable period;
provided, that to the extent such amounts are insufficient to repay such P&I Advances on any Mortgage Loan as to which
there is a related Serviced Subordinate Companion Loan, such P&I Advances may be reimbursed, from collections on the related
Serviced Whole Loan allocable to such Subordinate Companion Loan; provided, further, that if such P&I Advance
on the applicable Mortgage Loan becomes a Nonrecoverable Advance or a Workout-Delayed Reimbursement Amount, then such P&I Advance
shall thereafter be reimbursed in accordance with clause (v) below;


 



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(iv)          to reimburse
the Trustee or itself, in that order, as applicable (with respect to such Serviced Whole Loan or Serviced REO Property), for unreimbursed
Servicing Advances with respect to such Serviced Whole Loan or related Serviced REO Property, the Master Servicer’s or the
Trustee’s respective rights to receive payment pursuant to this clause (iv) being limited to, as applicable, related
payments by the applicable Borrower with respect to such Servicing Advance, Liquidation Proceeds, Insurance Proceeds and Condemnation
Proceeds and REO Proceeds with respect to such Serviced Whole Loan; provided, that if such Servicing Advance becomes a Nonrecoverable
Advance or a Workout-Delayed Reimbursement Amount, then such Servicing Advance shall thereafter be reimbursed in accordance with
clause (v) below;


 


(v)           (A) to
reimburse the Trustee or itself, in that order, (with respect to such Serviced Whole Loan or related REO Property), as applicable
(x) with respect to Nonrecoverable Advances, first, out of Liquidation Proceeds, Insurance Proceeds, Condemnation Proceeds
and REO Proceeds received on the related Serviced Whole Loan and related REO Properties, and second, out of general collections
in the Collection Account as provided in Section 3.06(a) and (y) with respect to the Workout-Delayed Reimbursement
Amounts, first, out of the principal portion of the general collections on the Serviced Whole Loan and related REO Properties,
net of such amounts being reimbursed pursuant to the subclause first in the preceding clause (x) above and second
out of general collections in the Collection Account as provided in Section 3.06(a); provided that in the case
of both clause (x) and clause (y) of this clause (v), prior to making any reimbursement from general collections,
such reimbursements shall be made first, from collections on, and proceeds of the applicable Subordinate Companion Loan, if any,
and then from collections on, and proceeds of the related Mortgage Loan, or in the case of a Serviced Pari Passu Whole Loan with
a Serviced Pari Passu Companion Loan, on a pro rata basis as between the Mortgage Loan and any related Serviced Pari Passu
Companion Loans (based on the Mortgage Loan’s Stated Principal Balance or related Serviced Pari Passu Companion Loan’s
principal balance) and then from general collections of the Trust (provided that, in the case of a Servicing Advance that
is a Nonrecoverable Advance, the Master Servicer shall, after receiving payment from amounts on deposit in the Collection Account,
if any, (i) promptly notify the related Companion Loan Noteholder and (ii) use commercially reasonable efforts to exercise
on behalf of the Trust any rights under the related Intercreditor Agreement to obtain reimbursement for a pro rata portion
of such amount allocable to the related Serviced Companion Loans from the related Companion Loan Noteholders) or (B) to pay
itself or the Special Servicer out of general collections on such Serviced Whole Loan and related REO Properties, any related earned
Servicing Fee, Special Servicing Fee, Liquidation Fee or Workout Fee, as applicable, that remained unpaid in accordance with clause (ii)
above following a Final Recovery Determination made with respect to such Serviced Whole Loan or related REO Property and the deposit
into the applicable Serviced Whole Loan Collection Account of all amounts received in connection therewith; provided that,
notwithstanding the foregoing, such party’s rights to reimbursement pursuant to this clause (v) with respect to
any such Nonrecoverable Advance or Workout-Delayed Reimbursement Amount that is a P&I Advance, being limited (except to the
extent set forth in Section 3.06(a)) to amounts on deposit in the applicable Serviced Whole Loan Collection Account
that were received in respect of the particular Mortgage Loan (as


 



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allocable thereto pursuant to the related Loan Documents and
the related Intercreditor Agreement) in the related Serviced Whole Loan as to which such Nonrecoverable Advance or such Workout-Delayed
Reimbursement Amount were incurred (provided, that to the extent such amounts are insufficient to repay such Advances on
any Mortgage Loan as to which there is a related Subordinate Companion Loan, such P&I Advances may be reimbursed from collections
on the related Serviced Whole Loan allocable to such Subordinate Companion Loan);


 


(vi)          at such time
as it reimburses the Trustee or itself, in that order, as applicable, for (A) any unreimbursed P&I Advance with respect
to the applicable Mortgage Loan (including any such Advance that constitutes a Workout-Delayed Reimbursement Amount) or any unreimbursed
principal and/or interest advance with respect to the related Serviced Companion Loan pursuant to clause (iii) above, to pay
itself, the Trustee or such Serviced Companion Loan Service Provider, as applicable, any Advance Interest Amounts accrued and payable
thereon, (B) any unreimbursed Servicing Advances (including any such Advance that constitutes a Workout-Delayed Reimbursement
Amount) pursuant to clause (iv) above, to pay itself, the Special Servicer or the Trustee, as the case may be, any Advance
Interest Amounts accrued and payable thereon or (C) any Nonrecoverable Advances pursuant to clause (v) above, to pay
itself, the Special Servicer, the Trustee or any Serviced Companion Loan Service Provider, as the case may be, any Advance Interest
Amounts accrued and payable thereon, with such amounts payable in the case of clauses (A), (B) and (C) above, first,
from Penalty Charges pursuant to Section 3.12(d), then, from collections on, and proceeds of the applicable Subordinate
Companion Loan, if any, and then, from collections on, and proceeds of on a pro rata basis as between the Mortgage Loan and any
related other Serviced Pari Passu Companion Loans (based on the Mortgage Loan’s Stated Principal Balance or related Serviced
Pari Passu Companion Loan’s principal balance), provided that, notwithstanding the foregoing, such party’s rights
to reimbursement pursuant to this clause (vi) with respect to any such interest on P&I Advances (including any such P&I
Advance that is a Nonrecoverable Advance or a Workout-Delayed Reimbursement Amount) being limited to amounts on deposit in the
applicable Serviced Whole Loan Collection Account that were received in respect of the particular Mortgage Loan (as allocable thereto
pursuant to the related Loan Documents and the related Intercreditor Agreement) in the related Serviced Whole Loan as to which
such advance relates (provided, that any Mortgage Loan as to which there is a related Subordinate Companion Loan, such interest
on P&I Advances may be reimbursed from collections on the related Serviced Whole Loan allocable to such Subordinate Companion
Loan);


 


(vii)         to reimburse
itself, the Special Servicer, the Custodian, the Certificate Administrator or the Trustee, as the case may be, as applicable, for
any unreimbursed expenses reasonably incurred by such Person in respect of any Breach or Defect with respect to the Mortgage Loan
giving rise to a repurchase obligation of the applicable Mortgage Loan Seller under Section 6 of the applicable Mortgage Loan
Purchase Agreement or, with respect to a Serviced Companion Loan, under the related mortgage loan purchase agreement, including,
without limitation, any expenses arising out of the enforcement of the repurchase obligation, each such Person’s right to
reimbursement pursuant to this clause (vii) with respect to such Serviced Whole Loan being limited to


 






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that portion of the
Purchase Price paid for the related Mortgage Loan that represents such expense in accordance with clause (e) of the definition
of Purchase Price (or, with respect to a Serviced Companion Loan, a comparable expense);


 


(viii)        to pay itself
all Prepayment Interest Excesses on any related Mortgage Loan or Serviced Companion Loan included in the Serviced Whole Loans not
required to be used pursuant to Section 3.17(c) of this Agreement;


 


(ix)           (A) to
pay itself, as additional servicing compensation in accordance with Section 3.12(a), (1) interest and investment
income earned in respect of amounts relating to such Serviced Whole Loan held in the applicable Serviced Whole Loan Collection
Account as provided in Section 3.07(b) (but only to the extent of the net investment earnings with respect to such
Serviced Whole Loan Collection Account for any period from any Distribution Date to the immediately succeeding Master Servicer
Remittance Date) and (2) any Penalty Charges on the related Mortgage Loan and Serviced Companion Loan (except to the extent
prohibited by the related Intercreditor Agreement and other than Specially Serviced Loans) but only to the extent collected from
the related Borrower and to the extent that all amounts then due and payable with respect to the Serviced Whole Loans have been
paid and are not needed to pay Advance Interest Amounts, interest on debt service advances made by the related Serviced Companion
Loan Service Provider and/or Additional Trust Fund Expenses in accordance with Section 3.12 and the related Intercreditor
Agreement; and (B) to pay the Special Servicer, as additional servicing compensation in accordance with the second paragraph
of Section 3.12, the portion of any Penalty Charges on the related Mortgage Loan and Serviced Companion Loan (except
to the extent prohibited by the related Intercreditor Agreement), during the period it is a Specially Serviced Loan (but only to
the extent collected from the related Borrower and to the extent that all amounts then due and payable with respect to the related
Specially Serviced Loan have been paid and are not needed to pay interest on Advances, interest on debt service advances made by
the related Serviced Companion Loan Service Provider and/or Additional Trust Fund Expenses in accordance with Section 3.12
and the related Intercreditor Agreement);


 


(x)            to recoup any
amounts deposited in such Serviced Whole Loan Collection Account in error;


 


(xi)           to pay itself,
the Special Servicer, the Depositor or any of their respective directors, officers, members, managers, employees and agents, as
the case may be, any amounts payable to any such Person pursuant to Section 6.03(a) or 6.03(b), to the extent
that such amounts relate to such Serviced Whole Loans;


 


(xii)          to pay for
the cost of the Opinions of Counsel contemplated by Section 3.10(d), 3.10(e), 3.15(a), 3.15(b)
and 12.08 to the extent that such opinions specifically relate to such Serviced Whole Loans;


 


(xiii)         to pay out
of general collections on such Serviced Whole Loan and related Serviced REO Property any and all federal, state and local taxes
imposed on the Upper-Tier REMIC, the Lower-Tier REMIC or any of their assets or transactions, together with all incidental costs
and expenses, in each case to the extent that neither the Master


 



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Servicer, the Special Servicer, the Certificate Administrator
nor the Trustee is liable therefor pursuant to this Agreement and only to the extent that such amounts relate to the related Mortgage
Loan or to the Serviced Companion Loans (but only to the extent that any Serviced Companion Loan is included in a REMIC);


 


(xiv)        to reimburse
the Trustee and the Certificate Administrator out of general collections on such Serviced Whole Loan and related REO Properties
for expenses incurred by and reimbursable to it by the Trust Fund specifically related to such Serviced Whole Loan;


 


(xv)         to pay any
Person permitted to purchase a Mortgage Loan under Section 3.16 with respect to the Mortgage Loan included in such
Serviced Whole Loan, if any, previously purchased by such Person pursuant to this Agreement, all amounts received thereon subsequent
to the date of purchase relating to periods after the date of purchase;


 


(xvi)        to deposit
in the Interest Reserve Account the amounts with respect to the Mortgage Loan included in such Serviced Whole Loan required to
be deposited in the Interest Reserve Account pursuant to Section 3.05(e);


 


(xvii)       to pay to
the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee or the Depositor, as the case may be, to
the extent that such amounts relate to the Mortgage Loan included in such Serviced Whole Loan, any amount specifically required
to be paid to such Person at the expense of the Trust Fund under any provision of this Agreement to which reference is not made
in any other clause of this Section 3.06(b), it being acknowledged that this clause (xvii) shall not
be construed to modify any limitation or requirement otherwise set forth in this Agreement or in the related Intercreditor Agreement
as to the time at which any Person is entitled to payment or reimbursement of any amount or as to the funds from which any such
payment or reimbursement is permitted to be made;


 


(xviii)      to pay the
related Mortgage Loan Seller with respect to the Mortgage Loan included in such Serviced Whole Loan, if any, previously purchased
or substituted (i.e., replaced) by such Person pursuant to or as contemplated by this Agreement, all amounts received on
such Mortgage Loan subsequent to the date of purchase or substitution, and, in the case of a substitution, with respect to the
related Qualified Substitute Mortgage Loan(s), all Periodic Payments due thereon during or prior to the month of substitution,
in accordance with the third paragraph of Section 2.03(g); and


 


(xix)         to clear and
terminate such Serviced Whole Loan Collection Account at the termination of this Agreement pursuant to Section 9.01.


 


In the case of the amounts payable
as set forth above in this Section 3.06(b) with respect to any Serviced Whole Loan, if such amount is not specifically
payable, pursuant to the terms of this Agreement or the related Intercreditor Agreement, out of collections or proceeds allocable
to any particular note that is a part of such Serviced Whole Loan, such amount shall be paid from collections on, and proceeds
of the related Serviced Subordinate Companion Loan, if any, and then, from collections on, and proceeds of, on a pro rata
basis as between, the related


 






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Mortgage Loan and any related Serviced Pari Passu Companion Loans (based on the related Mortgage
Loan’s principal balance or the related Serviced Pari Passu Companion Loan’s principal balance), and then, to the extent
provided for in this Agreement, from general collections.


 


The Master Servicer shall keep and
maintain separate accounting records, on a loan by loan and property by property basis when appropriate, for the purpose of justifying
any withdrawal from any Serviced Whole Loan Collection Account. All withdrawals with respect to any Serviced Whole Loan shall be
made first, from the applicable Serviced Whole Loan Collection Account and then, from the Master Servicer’s
Collection Account to the extent permitted by Section 3.06(a). Upon request, the Master Servicer shall provide to the
Certificate Administrator such records and any other information in the possession of the Master Servicer to enable the Certificate
Administrator to determine the amounts attributable to the Lower-Tier REMIC and the Companion Loans.


 


The Master Servicer shall pay to the
Special Servicer from the Serviced Whole Loan Collection Accounts amounts permitted to be paid to it therefrom promptly upon receipt
of a certificate of a Servicing Officer of such Special Servicer describing the item and amount to which the Special Servicer is
entitled. The Master Servicer may rely conclusively on any such certificate and shall have no duty to recalculate the amounts stated
therein. The Special Servicer shall keep and maintain separate accounting for each Specially Serviced Loan included in the Serviced
Whole Loan and related REO Loan, on a loan by loan and property by property basis, for the purpose of justifying any request for
withdrawal from any Serviced Whole Loan Collection Account.


 


Any permitted withdrawals under this
Section 3.06(b) with respect to reimbursement for advances or other amounts payable to an Other Trustee shall, if applicable,
also be deemed to be a permitted withdrawal for similar amounts owed to the fiscal agent of the Other Trustee, if any.


 


Notwithstanding anything to the contrary
contained herein, with respect to each Serviced Companion Loan, the Master Servicer shall withdraw from the related Serviced Whole
Loan Collection Account and remit to the related Serviced Companion Loan Noteholders, within (x) with respect to any Serviced
Subordinate Companion Loan, if required pursuant to the terms of the related Intercreditor Agreement, two (2) Business Days of
receipt of properly identified funds and (y) with respect to any Serviced Pari Passu Companion Loan, one (1) Business Day
of receipt of properly identified funds, any amounts that represent Late Collections or Principal Prepayments on such Serviced
Companion Loan or any successor REO Loan with respect thereto, that are received by the Master Servicer prior to 3:00 p.m. (New
York City time) on any given Business Day (and to the extent any such amounts are received after 3:00 p.m. Eastern time on any
given Business Day, the Master Servicer shall use commercially reasonable efforts to remit such Late Collections or Principal Prepayments
to the related Serviced Companion Loan Noteholders within one (1) Business Day of receipt of properly identified funds but, in
any event, the Master Servicer shall remit such amounts within two (2) Business Days of receipt of properly identified funds) (exclusive
of any portion of such amount payable or reimbursable to any third party in accordance with the related Intercreditor Agreement
or this Agreement), unless such amount would otherwise be included in the monthly remittance to the holder of such Serviced Companion
Loan for such month.


 



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If the Master Servicer fails, as of
5:00 p.m. (New York City time) on any Master Servicer Remittance Date or any other date a remittance is required to be made, to
remit to the Certificate Administrator (in respect of the related Mortgage Loan) or the Serviced Companion Loan Noteholders (in
respect of any related Serviced Companion Loan) any amounts required to be so remitted hereunder by such date (including any P&I
Advance pursuant to Section 4.07 and any Gain-on-Sale Proceeds allocable to the Serviced Companion Loans pursuant to
Section 4.01(d)(i)), the Master Servicer shall pay to the Certificate Administrator (in respect of the Mortgage Loan) or
the Serviced Companion Loan Noteholders (in respect of the Serviced Companion Loan), for the account of the Certificate Administrator
(in respect of the Mortgage Loan) or the Serviced Companion Loan Noteholders (in respect of the Serviced Companion Loans), interest,
calculated at the Prime Rate, on such amount(s) not timely remitted, from the time such payment was required to be made (without
regard to any grace period) until (but not including) the date such late payment is received by the Certificate Administrator or
the Serviced Companion Loan Noteholders, as applicable.


 


(c)          On each Master Servicer Remittance
Date, all net income and gain realized from investment of funds to which the Master Servicer or the Special Servicer is entitled
pursuant to Section 3.07(b) of this Agreement shall be subject to withdrawal by the Master Servicer or the Special
Servicer, as applicable.


 


(d)         With respect to the Serviced
Whole Loans, if amounts required to pay the expenses allocable to any related Serviced Companion Loan exceed amounts on deposit
in the Serviced Whole Loan Collection Account, the Master Servicer, the Special Servicer, the Certificate Administrator or the
Trustee, as applicable, may seek reimbursement from the Trust Fund with respect to such expenses allocable to such Serviced Companion
Loan. The Master Servicer or Special Servicer, as applicable, shall seek (on behalf of the Trust Fund, subject to the related Intercreditor
Agreement) payment or reimbursement from the holder of the related Serviced Subordinate Companion Loan, if any, and then for the
pro rata portion of such expenses allocable to the Serviced Pari Passu Companion Loan from the related Serviced Companion
Loan Noteholder or, if such Serviced Companion Loan has been deposited into a securitization, out of general collections in the
collection account established pursuant to the related Other Pooling and Servicing Agreement.


 


(e)          If any Loss of Value Payments
are deposited into the Loss of Value Reserve Fund with respect to any Mortgage Loan or any related Serviced REO Property, then
the Special Servicer shall (provided that, (1) with respect to clause (iv) below, the Special Servicer shall have provided
notice to the Master Servicer of the occurrence of such liquidation event and (2) with respect to clause (v) below, the Certificate
Administrator shall have provided the Master Servicer and the Special Servicer with five Business Days’ prior notice of such
final Distribution Date), transfer such Loss of Value Payments (up to the remaining portion thereof) from the Loss of Value Reserve
Fund to the Master Servicer for deposit into the Collection Account for the following purposes:


 


(i)       to reimburse
the Master Servicer or the Trustee, in accordance with Section 3.06(a) of this Agreement, for any Nonrecoverable Advance
made by such party with respect to such Mortgage Loan or any related Serviced REO Property (together with the Advance Interest
Amount);


 



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(ii)      to pay, in
accordance with Section 3.06(a) of this Agreement, or to reimburse the Trust for the prior payment of, any expense
relating to such Mortgage Loan or any related Serviced REO Property that constitutes or, if not paid out of such Loss of Value
Payments, would constitute an Additional Trust Fund Expense;


 


(iii)     to offset
any portion of Realized Losses that are attributable to such Mortgage Loan or related REO Property, as the case may be (as calculated
without regard to the application of such Loss of Value Payments), incurred with respect to such Mortgage Loan or any related successor
REO Loan;


 


(iv)     following the
occurrence of a liquidation event with respect to such Mortgage Loan or any related Serviced REO Property and any related transfers
from the Loss of Value Reserve Fund with respect to the items contemplated by the immediately preceding clauses (i)-(iii)
as to such Mortgage Loan, to cover the items contemplated by the immediately preceding clauses (i)-(iii) in respect of any
other Mortgage Loan or Serviced REO Loan; and


 


(v)      On the final
Distribution Date after all distributions have been made as set forth in clause (i) through (iv) above, to each Mortgage Loan
Seller, its pro rata share, based on the amount that it contributed, net of any amount contributed by such Mortgage Loan
Seller that was used pursuant to clauses (i)-(iii) to offset any portion of Realized Losses that are attributable to such
Mortgage Loan or related REO Property, Additional Trust Fund Expenses or any Nonrecoverable Advances incurred with respect to the
Mortgage Loan related to such contribution.


 


Any Loss of Value Payments transferred
to the Collection Account pursuant to clauses (i)-(iii) of the prior paragraph shall be treated as Liquidation Proceeds received
by the Trust in respect of the related Mortgage Loan or any successor REO Loan with respect thereto for which such Loss of Value
Payments were received; and any Loss of Value Payments transferred to the Collection Account pursuant to clause (iv) of the
prior paragraph shall be treated as Liquidation Proceeds received by the Trust in respect of the Mortgage Loan or REO Loan for
which such Loss of Value Payments are being transferred to the Collection Account to cover an item contemplated by clauses (i)-(iv)
of the prior paragraph.


 


(f)        The Certificate Administrator
may, from time to time, make withdrawals from the Lower-Tier Distribution Account for any of the following purposes (the order
set forth below shall not indicate any order of priority), in each case to the extent not previously paid from the Collection Account:


 


(i)        to make deposits
of the Lower-Tier Distribution Amount and the amount of any Prepayment Premium and Yield Maintenance Charges distributable pursuant
to Section 4.01(a) of this Agreement in the Upper-Tier Distribution Account, and to make distributions on the Class
R Certificates in respect of the Class LTR Interest pursuant to Section 4.01(a) of this Agreement;


 


(ii)       to pay itself,
the Trustee and the Custodian respective portions of any accrued but unpaid Trustee/Certificate Administrator Fees;


 



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(iii)      to pay itself
an amount equal to all net income and gain realized from investment of funds in the Lower-Tier Distribution Account pursuant to
Section 3.07(b) of this Agreement;


 


(iv)      to pay to itself,
the Trustee, the Custodian or any of their directors, officers, employees, representatives and agents, as the case may be, any
amounts payable or reimbursable to any such Person pursuant to Section 8.05(b), Section 8.05(c) and Section 8.05(d)
of this Agreement;


 


(v)       to recoup any
amounts deposited in the Lower-Tier Distribution Account in error; and


 


(vi)      to clear and
terminate the Lower-Tier Distribution Account at the termination of this Agreement pursuant to Section 9.01 of this
Agreement.


 


(g)       The Certificate Administrator
may make withdrawals from the Upper-Tier Distribution Account for any of the following purposes:


 


(i)        to make distributions
to Certificateholders on each Distribution Date pursuant to Section 4.01 or Section 9.01 of this Agreement
(in the case of Holders of the Class R Certificates, in respect of the Class UTR Interest), as applicable;


 


(ii)       to recoup any
amounts deposited in the Upper-Tier Distribution Account in error; and


 


(iii)      to clear and
terminate the Upper-Tier Distribution Account at the termination of this Agreement pursuant to Section 9.01 of this
Agreement.


 


Section 3.07Investment
of Funds in the Collection Accounts, the Serviced Whole Loan Collection Accounts, the Distribution Accounts, the Interest Reserve
Account, the Gain-on-Sale Reserve Account, the REO Account, the Lock-Box Accounts, the Cash Collateral Accounts and the Reserve
Accounts. (a)  The Master Servicer (with respect to the Collection Account, and any Serviced Whole Loan Collection
Account and any Borrower Accounts (as defined below and subject to the second succeeding sentence)), the Special Servicer (with
respect to any REO Account and any Loss of Value Reserve Fund) and the Certificate Administrator (with respect to the Distribution
Accounts, the Interest Reserve Account and the Gain-on-Sale Reserve Account) may direct any depository institution maintaining
the Collection Account, any Serviced Whole Loan Collection Account, the Gain-on-Sale Reserve Account, any Borrower Accounts, any
REO Account, any Loss of Value Reserve Fund, the Interest Reserve Account and the Distribution Accounts (each such account, for
purposes of this Section 3.07, an “Investment Account”), to invest the funds in such Investment
Account in one or more Permitted Investments that bear interest or are sold at a discount, and that mature, unless payable on
demand, no later than the Business Day preceding the date on which such funds are required to be withdrawn from such Investment
Account pursuant to this Agreement. Any investment of funds on deposit in an Investment Account by the Master Servicer, the Special
Servicer or the Certificate Administrator shall be documented in writing and shall provide evidence that such investment is a
Permitted Investment which matures at or prior to the time required hereby or is payable on demand. In the case of any Escrow
Account, Lock-Box Account, Cash Collateral Account or Reserve Account


 






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(the “Borrower Accounts”), the Master
Servicer shall act upon the written request of the related Borrower or Manager to the extent that the Master Servicer is required
to do so under the terms of the respective Loan Documents, provided that in the absence of appropriate written instructions
from the related Borrower or Manager meeting the requirements of this Section 3.07, the Master Servicer shall have
no obligation to, but will be entitled to, direct the investment of funds in such accounts in Permitted Investments. All such
Permitted Investments shall be held to maturity, unless payable on demand. Any investment of funds in an Investment Account shall
be made in the name of the Trustee (in its capacity as such) or in the name of a nominee of the Trustee. The Certificate Administrator
shall have sole control (except with respect to investment direction which shall be in the control of the Master Servicer or the
Special Servicer, with respect to any REO Accounts, as an independent contractor to the Trust Fund) over each such investment
and any certificate or other instrument evidencing any such investment shall be delivered directly to the Certificate Administrator
or its agent (which shall initially be the Master Servicer), together with any document of transfer, if any, necessary to transfer
title to such investment to the Trustee or its nominee. Neither the Certificate Administrator nor the Trustee shall have any responsibility
or liability with respect to the investment directions of the Master Servicer, the Special Servicer, any Borrower or Manager or
any losses resulting therefrom, whether from Permitted Investments or otherwise. The Master Servicer shall have no responsibility
or liability with respect to the investment directions of the Special Servicer, the Certificate Administrator, the Trustee, any
Borrower or Manager or any losses resulting therefrom, whether from Permitted Investments or otherwise. The Special Servicer shall
have no responsibility or liability with respect to the investment directions of the Master Servicer, the Certificate Administrator,
the Trustee, any Borrower or Manager or any losses resulting therefrom, whether from Permitted Investments or otherwise. In the
event amounts on deposit in an Investment Account are at any time invested in a Permitted Investment payable on demand, the Master
Servicer (or the Special Servicer or the Certificate Administrator, as applicable) shall:


 


(x)       consistent with
any notice required to be given thereunder, demand that payment thereon be made on the last day such Permitted Investment may otherwise
mature hereunder in an amount equal to the lesser of (1) all amounts then payable thereunder and (2) the amount required
to be withdrawn on such date; and


 


(y)      demand payment of
all amounts due thereunder promptly upon determination by the Master Servicer (or the Special Servicer or the Certificate Administrator,
as applicable) that such Permitted Investment would not constitute a Permitted Investment in respect of funds thereafter on deposit
in the related Investment Account.


 


(b)      All income and gain realized
from investment of funds deposited in any Investment Account shall be for the benefit of the Master Servicer (except with respect
to the investment of funds deposited in (i) any Borrower Account, which shall be for the benefit of the related Borrower to
the extent required under the related Loan Documents for the Mortgage Loan or applicable law, (ii) any REO Account and the
Loss of Value Reserve Fund, which shall be for the benefit of the Special Servicer or (iii) the Gain-on-Sale Reserve Account,
the Interest Reserve Account and the Distribution Accounts, which shall be for the benefit of the Certificate Administrator) and,
if held in the Collection Account, any Serviced Whole Loan Collection Account, REO Account or Distribution Account shall be subject
to withdrawal by the Master


 



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Servicer, the Special Servicer or the Certificate Administrator, as applicable, in accordance with
Section 3.06 or Section 3.15(b) of this Agreement, as applicable. The Master Servicer, or with respect
to any REO Account or Loss of Value Reserve Fund, the Special Servicer, or with respect to the Gain-on-Sale Reserve Account, the
Distribution Accounts, the Certificate Administrator, shall deposit from its own funds into the Collection Account, applicable
Serviced Whole Loan Collection Account, any REO Account or Loss of Value Reserve Fund, the Gain-on-Sale Reserve Account, the Interest
Reserve Account or the Distribution Accounts, as applicable, the amount of any loss incurred in respect of any such Permitted Investment
immediately upon realization of such loss; provided, that the Master Servicer, the Special Servicer or the Certificate Administrator,
as applicable, may reduce the amount of such payment to the extent it forgoes any investment income in such Investment Account
otherwise payable to it. The Master Servicer shall also deposit from its own funds in any Borrower Account immediately upon realization
of such loss the amount of any loss incurred in respect of Permitted Investments, except to the extent that amounts are invested
at the direction of or for the benefit of the Borrower under the terms of the related Loan Documents for the Mortgage Loan, Serviced
Whole Loan or applicable law; provided that neither the Master Servicer nor the Special Servicer shall be required to deposit
any loss on an investment of funds in an Investment Account if such loss is incurred solely as a result of the insolvency of the
federal or state chartered depository institution or trust company that holds such Investment Account, so long as such depository
institution or trust company has satisfied the qualifications set forth in the definition of Eligible Account both (x) at
the time the investment was made and (y) 30 days prior to such insolvency.


 


(c)       Except as otherwise expressly
provided in this Agreement, if any default occurs in the making of a payment due under any Permitted Investment, or if a default
occurs in any other performance required under any Permitted Investment, in either case as a result of an action or inaction of
the Master Servicer, the Special Servicer or the Certificate Administrator, as applicable, the Trustee may, and upon the request
of Holders of Certificates entitled to a majority of the Voting Rights allocated to any Class shall, take such action as may be
appropriate to enforce such payment or performance, including the institution and prosecution of appropriate proceedings. If the
Trustee takes any such action, (i) the Master Servicer, if such Permitted Investment was for the benefit of the Master Servicer,
(ii) the Special Servicer, if such Permitted Investment was for the benefit of the Special Servicer or (iii) the Certificate
Administrator, if such Permitted Investment was for the benefit of the Certificate Administrator, shall pay or reimburse the Trustee
for all reasonable out-of-pocket expenses, disbursements and advances incurred or made by the Trustee in connection therewith.


 


Section 3.08Maintenance
of Insurance Policies and Errors and Omissions and Fidelity Coverage. (a)  In the case of each Mortgage Loan or
Serviced Whole Loan, as applicable (but excluding any REO Loan and any Non-Serviced Mortgage Loan), the Master Servicer shall
use commercially reasonable efforts consistent with the Servicing Standard to cause the related Borrower, with respect to the
Mortgage Loans (other than a Non-Serviced Mortgage Loan) and Serviced Whole Loans that it is servicing, to maintain the following
insurance coverage (including identifying the extent to which such Borrower is maintaining insurance coverage and, if such Borrower
does not so maintain, the Master Servicer will itself cause to be maintained with Qualified Insurers) for the related Mortgaged
Property: (x) except where the Loan Documents permit a Borrower to rely on self-insurance provided by a tenant, a fire and
casualty extended coverage insurance policy, which does not provide for reduction due


 



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to depreciation, in an amount that is at
least equal to the lesser of (i) the full replacement cost of improvements securing such Mortgage Loan or Serviced Whole
Loan, as applicable, and (ii) the Stated Principal Balance of such Mortgage Loan or Serviced Whole Loan, as applicable, but,
in any event, in an amount sufficient to avoid the application of any co-insurance clause and (y) all other insurance
coverage (including, but not limited to, coverage for acts of terrorism) that is required, subject to applicable law, under the
related Loan Documents; provided, that:


 


(i)        the Master Servicer
shall not be required to maintain any earthquake or environmental insurance policy on any Mortgaged Property unless the Trustee
has an insurable interest and (x) such insurance policy was in effect at the time of the origination of the related Mortgage
Loan or Serviced Whole Loan, as applicable, or (y) such insurance policy was required by the related Loan Documents and is
available at commercially reasonable rates, provided that the Master Servicer shall require the related Borrower to maintain
such insurance in the amount, in the case of clause (x), maintained at origination, and in the case of clause (y), required
by such Mortgage Loan or Serviced Whole Loan, in each case, to the extent such amounts are available at commercially reasonable
rates and to the extent the Trustee has an insurable interest;


 


(ii)       if and to the
extent that any Loan Document grants the lender thereunder any discretion (by way of consent, approval or otherwise) as to the
insurance provider from whom the related Borrower is to obtain the requisite insurance coverage, the Master Servicer shall (to
the extent consistent with the Servicing Standard) require the related Borrower to obtain the requisite insurance coverage from
Qualified Insurers;


 


(iii)      the Master
Servicer shall have no obligation beyond using its reasonable efforts consistent with the Servicing Standard to cause any Borrower
to maintain the insurance required to be maintained under the Loan Documents; provided, that this clause shall not
limit the Master Servicer’s obligation to obtain and maintain a force-placed insurance policy, as provided herein;


 


(iv)     except as provided
below (including under clause (vi) below), in no event shall the Master Servicer be required to cause the Borrower to maintain,
or itself obtain, insurance coverage to the extent that the failure of such Borrower to maintain insurance coverage is an Acceptable
Insurance Default (as determined by the Special Servicer);


 


(v)      to the extent
that the Master Servicer itself is required to maintain insurance that the Borrower does not maintain, the Master Servicer will
not be required to maintain insurance other than what is available to the Master Servicer on a force-placed basis at commercially
reasonable rates, and only to the extent the Trust as lender has an insurable interest thereon; and


 


(vi)     any explicit
terrorism insurance requirements contained in the related Loan Documents shall be enforced by the Master Servicer in accordance
with the Servicing Standard (unless the Special Servicer with the consent of, if no Control Termination Event has occurred and
is continuing, the Directing Holder has consented to a waiver (including a waiver to permit the Master Servicer to accept insurance
that does not comply with specific requirements contained in the Loan Documents) in writing of that provision in


 






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accordance with
the Servicing Standard); provided that the Special Servicer shall promptly notify the Master Servicer in writing of such
waiver.


 


The Master Servicer shall notify the
Special Servicer, the Certificate Administrator, the Trustee and the Directing Holder if the Master Servicer determines in accordance
with the Servicing Standard that a Borrower under a Mortgage Loan (other than a Non-Serviced Mortgage Loan) has failed to maintain
insurance required under the Loan Documents and such failure materially and adversely affects the interests of the Certificateholders
or if a Borrower under a Mortgage Loan (other than a Non-Serviced Mortgage Loan) has notified the Master Servicer in writing that
the Borrower does not intend to maintain such insurance and that the Master Servicer has determined in accordance with the Servicing
Standard that such failure materially and adversely affects the interests of the Certificateholders.


 


Subject to Section 3.15(b) of
this Agreement, with respect to each Serviced REO Property, the Special Servicer shall use reasonable efforts and only if the
Trustee has an insurable interest, consistent with the Servicing Standard, to maintain (subject to the right of the
Special Servicer to direct the Master Servicer to make a Servicing Advance for the costs associated with coverage that the
Special Servicer determines to maintain, in which case the Master Servicer shall make such Servicing Advance) with Qualified
Insurers to the extent reasonably available at commercially reasonable rates and to the extent the Trustee has an insurable
interest, (a) a fire and casualty extended coverage insurance policy, which does not provide for reduction due to
depreciation, in an amount that is at least equal to the lesser of the full replacement value of the Mortgaged Property or
the Stated Principal Balance of the Mortgage Loan, Serviced REO Loan or the Serviced Whole Loan, as applicable (or such
greater amount of coverage required by the related Loan Documents (unless such amount is not available or, if no Control
Termination Event has occurred and is continuing, the Directing Holder has consented to a lower amount)), but, in any event,
in an amount sufficient to avoid the application of any co-insurance clause, (b) a comprehensive general liability
insurance policy with coverage comparable to that which would be required under prudent lending requirements and in an amount
not less than $1.0 million per occurrence, and (c) to the extent consistent with the Servicing Standard, a business
interruption or rental loss insurance covering revenues or rents for a period of at least 12 months; provided, that
the Special Servicer shall not be required in any event to maintain or obtain insurance coverage described in this paragraph
beyond what is reasonably available at a commercially reasonable rate and consistent with the Servicing Standard.


 


All such insurance policies maintained
as described above shall contain (if they insure against loss to property) a “standard” mortgagee clause, with loss
payable to the Master Servicer (on behalf of the Trustee on behalf of Certificateholders and, with respect to a Serviced Whole
Loan, the related Serviced Companion Loan Noteholders), or shall name the Trustee as the insured, with loss payable to the Special
Servicer on behalf of the Trustee (on behalf of Certificateholders and, with respect to a Serviced Whole Loan, the related Serviced
Companion Loan Noteholders) (in the case of insurance maintained in respect of an REO Property). Any amounts collected by the Master
Servicer or Special Servicer, as applicable, under any such policies (other than amounts to be applied to the restoration or repair
of the related Mortgaged Property or Serviced REO Property or amounts to be released to the related Borrower, in each case in accordance
with the Servicing Standard) shall be deposited in the Collection Account (or,


 






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in the case of the Serviced Whole Loans, in the
applicable Serviced Whole Loan Collection Account), subject to withdrawal pursuant to Section 3.06 of this Agreement,
in the case of amounts received in respect of a Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced Whole Loan,
or in the applicable REO Account of the Special Servicer, subject to withdrawal pursuant to Section 3.15 of this Agreement,
in the case of amounts received in respect of a Serviced REO Property. Any cost incurred by the Master Servicer or the Special
Servicer in maintaining any such insurance shall not, for purposes hereof, including calculating monthly distributions to Certificateholders
or Serviced Companion Loan Noteholders, be added to the Stated Principal Balance of the related Mortgage Loan or Serviced Whole
Loan, notwithstanding that the terms of such Mortgage Loan or Serviced Whole Loan so permit; provided, that this sentence
shall not limit the rights of the Master Servicer or Special Servicer on behalf of the Trust Fund to enforce any obligations of
the related Borrower under such Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced Whole Loan. Any costs incurred
by the Master Servicer in maintaining any such insurance policies in respect of the Mortgage Loans or Specially Serviced Loans
(other than REO Properties) (i) if the Borrower defaults on its obligation to do so, shall be advanced by the Master Servicer
as a Servicing Advance and will be charged to the related Borrower and (ii) shall not, for purposes of calculating monthly
distributions to Certificateholders, be added to the Stated Principal Balance of the related Mortgage Loan, notwithstanding that
the terms of such Mortgage Loan so permit. Any cost incurred by the Special Servicer in maintaining any such insurance policies
with respect to Serviced REO Properties shall be an expense of the Trust Fund (and in the case of any Serviced Whole Loan, such
expense shall be allocated in accordance with the allocation provisions of the related Intercreditor Agreement) payable out of
the related REO Account (or Serviced Whole Loan REO Account, as applicable) or, if the amount on deposit therein is insufficient
therefor, advanced by the Master Servicer as a Servicing Advance (or paid from the Collection Account if the Master Servicer determines
such Advance would be a Nonrecoverable Advance, subject to Section 3.21(d) of this Agreement).


 


(b)      If either:


 


(x) the Master Servicer
or Special Servicer obtains and maintains, or causes to be obtained and maintained, a blanket policy or master force-placed policy
insuring against hazard losses on all of the Mortgage Loans (other than Non-Serviced Mortgage Loans), Serviced Whole Loans or Serviced
REO Properties, as applicable, then, to the extent such policy


 


(i)        is obtained from
a Qualified Insurer, and


 


(ii)       provides protection
equivalent to the individual policies otherwise required, or


 


(y) the Master Servicer
or the Special Servicer (or, in each case, its corporate parent), as applicable, has long-term unsecured debt obligations or deposit
accounts that are rated not lower than “A2” by Moody’s, “A-” by Fitch and “A (low)” by
DBRS (or, if not rated by DBRS, an equivalent (or higher) rating by at least any one other NRSRO (which may include Moody’s
and/or Fitch)), and the Master Servicer or Special Servicer self-insures for its obligation to maintain the individual policies
otherwise required,


 



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then the Master Servicer or the Special Servicer shall conclusively be deemed to have satisfied its obligation
to cause hazard insurance to be maintained on the related Mortgaged Properties or Serviced REO Properties, as applicable.


 


Such a blanket or master force-placed
policy may contain a deductible clause (not in excess of a customary amount), in which case the Master Servicer or Special
Servicer, as the case may be, that maintains such policy shall, if there shall not have been maintained on any Mortgaged Property
securing a Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced REO Property thereunder a hazard insurance policy
complying with the requirements of Section 3.08(a) of this Agreement, and there shall have been one or more losses
that would have been covered by such an individual policy, promptly deposit into the Collection Account (or, in the case of a Serviced
Whole Loan, in the related Serviced Whole Loan Collection Account), from its own funds, the amount not otherwise payable under
the blanket or master force-placed policy in connection with such loss or losses because of such deductible clause to the
extent that any such deductible exceeds the deductible limitation that pertained to the related Mortgage Loan or the related Serviced
Whole Loan, as applicable (or, in the absence of any such deductible limitation, the deductible limitation for an individual policy
which is consistent with the Servicing Standard). The Master Servicer and Special Servicer shall prepare and present, on behalf
of itself, the Trustee, Certificateholders and, if applicable the Serviced Companion Loan Noteholders, claims under any such blanket
or master force-placed policy maintained by it in a timely fashion in accordance with the terms of such policy. If the Master Servicer
or Special Servicer, as applicable, causes any Mortgaged Property securing a Mortgage Loan (other than a Non-Serviced Mortgage
Loan) or Serviced REO Property to be covered by such “force-placed” insurance policy, the incremental costs of such
insurance applicable to such Mortgaged Property or Serviced REO Property (i.e., other than any minimum or standby premium
payable for such policy whether or not any Mortgaged Property or Serviced REO Property is covered thereby) shall be paid as a Servicing
Advance.


 


(c)          With respect to each Mortgage
Loan (other than any Non-Serviced Mortgage Loan) or Serviced Whole Loan, as applicable, that is subject to an Environmental Insurance
Policy, if the Master Servicer has actual knowledge of any event giving rise to a claim under an Environmental Insurance Policy,
the Master Servicer shall notify the Special Servicer to such effect and the Master Servicer shall take reasonable actions as are
in accordance with the Servicing Standard and the terms and conditions of such Environmental Insurance Policy to make a claim thereunder
and achieve the payment of all amounts to which the Trust is entitled thereunder. With respect to each Specially Serviced Loan
and Serviced REO Property that is subject to an Environmental Insurance Policy, if the Special Servicer has actual knowledge of
any event giving rise to a claim under an Environmental Insurance Policy, such Special Servicer shall take reasonable actions as
are in accordance with the Servicing Standard and the terms and conditions of such Environmental Insurance Policy to make a claim
thereunder and achieve the payment of all amounts to which the Trust, on behalf of the Certificateholders and, if applicable, the
Serviced Companion Loan Noteholders (giving due regard to the junior nature of the related Subordinate Companion Loan, if any),
is entitled thereunder. Any legal fees or other out-of-pocket costs incurred in accordance with the Servicing Standard in connection
with any claim under an Environmental Insurance Policy described above (whether by the Master Servicer or Special Servicer) shall
be paid by, and reimbursable to, the Master Servicer as a Servicing Advance.


 



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(d)          The Master Servicer and the
Special Servicer shall at all times during the term of this Agreement (or, in the case of the Special Servicer, at all times during
the term of this Agreement during which Specially Serviced Loans and/or Serviced REO Properties as to which it is the Special Servicer
are included in the Trust Fund) keep in force with a Qualified Insurer, a fidelity bond in such form and amount as are consistent
with the Servicing Standard. The Master Servicer and Special Servicer, as applicable, shall be deemed to have complied with the
foregoing provision if an Affiliate thereof has such fidelity bond coverage and, by the terms of such fidelity bond, the coverage
afforded thereunder extends to the Master Servicer and Special Servicer, as the case may be. Such fidelity bond shall provide that
it may not be canceled without ten days’ prior written notice to the Trustee. So long as the long-term unsecured debt obligations
or deposit accounts of the Master Servicer (or its corporate parent if such insurance is guaranteed by its parent) or the Special
Servicer (or its corporate parent), as applicable, are rated not lower than “A2” by Moody’s, “A-”
by Fitch and “A (low)” by DBRS (or, if not rated by DBRS, an equivalent (or higher) rating by at least any one other
NRSRO (which may include Moody’s and/or Fitch)), the Master Servicer or the Special Servicer, as applicable, may self-insure
with respect to the fidelity bond coverage required as described above, in which case it shall not be required to maintain an insurance
policy with respect to such coverage.


 


The Master Servicer and Special Servicer,
as applicable, shall at all times during the term of this Agreement (or, in the case of the Special Servicer, at all times during
the term of this Agreement during which Specially Serviced Loans and/or Serviced REO Properties exist as part of the Trust Fund)
also keep in force with a Qualified Insurer a policy or policies of insurance covering loss occasioned by the errors and omissions
of its officers and employees in connection with their servicing obligations hereunder, which policy or policies shall be in such
form and amount as are consistent with the Servicing Standard. The Master Servicer or the Special Servicer, as applicable, shall
be deemed to have complied with the foregoing provisions if an Affiliate thereof has such insurance and, by the terms of such policy
or policies, the coverage afforded thereunder extends to the Master Servicer or Special Servicer, as the case may be. Any such
errors and omissions policy shall provide that it may not be canceled without ten days’ prior written notice to the Trustee.
So long as the long-term unsecured debt obligations of the Master Servicer or deposit accounts (or its corporate parent if such
insurance is guaranteed by its parent) or the Special Servicer (or its corporate parent), as applicable, are rated not lower than
“A2” by Moody’s, “A-” by Fitch, and “A (low)” by DBRS (or, if not rated by DBRS, an equivalent
(or higher) rating by (A) at least any two other NRSROs (which may include Moody’s and/or Fitch), or (B) one NRSRO (which
may include Moody’s and/or Fitch) and A.M. Best Company), the Master Servicer or the Special Servicer, as applicable, may
self-insure with respect to the errors and omissions coverage required as described above, in which case it shall not be required
to maintain an insurance policy with respect to such coverage.


 



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Section 3.09          Enforcement
of Due-on-Sale Clauses; Assumption Agreements; Defeasance Provisions. (a) If any Mortgage Loan (other than a
Non-Serviced Mortgage Loan) or Serviced Whole Loan contains a provision in the nature of a “due-on-sale”
clause (including, without limitation, sales or transfers of Mortgaged Properties (in full or part) or the sale,
transfer, pledge or hypothecation of direct or indirect interests in the Borrower or its owners), which by its terms:


 


(i)           provides that
such Mortgage Loan or Serviced Whole Loan will (or may at the mortgagee’s option) become due and payable upon the sale or
other transfer of an interest in the related Mortgaged Property (including, without limitation, the sale, transfer, pledge or hypothecation
of direct or indirect interests in the Borrower or its owners),


 


(ii)          provides that
such Mortgage Loan or Serviced Whole Loan may not be assumed without the consent of the related mortgagee in connection with any
such sale or other transfer, or


 


(iii)         provides that
such Mortgage Loan or Serviced Whole Loan may be assumed or transferred without the consent of the mortgagee, provided certain
conditions set forth in the Loan Documents are satisfied,


 


then, for so long as such Mortgage Loan (other
than a Non-Serviced Mortgage Loan) or Serviced Whole Loan (or related Mortgage Loan) is included in the Trust Fund, subject to
the rights of the Directing Holder, neither the Master Servicer (with respect to Performing Loans other than a Non-Serviced Mortgage
Loan) nor the Special Servicer (with respect to Specially Serviced Loans), as applicable, on behalf of the Trust Fund, shall be
required to enforce any such due-on-sale clauses and in connection therewith neither shall be required to (x) accelerate payments
thereon or (y) withhold its consent to such an assumption if (1) such provision is not exercisable under applicable law
or if the Master Servicer (with respect to Performing Loans (other than a Non-Serviced Mortgage Loan) and with the consent of the
Special Servicer) or the Special Servicer (with respect to Specially Serviced Loans), as applicable, determines, subject to the
rights of the Directing Holder, that the enforcement of such provision is reasonably likely to result in meritorious legal action
by the Borrower or (2) the Master Servicer (with the consent of the Special Servicer) or the Special Servicer, as applicable,
determines, in accordance with the Servicing Standard and subject to the rights of the Directing Holder, that granting such consent
would be likely to result in a greater recovery, on a present value basis (discounting at the related Calculation Rate), than would
enforcement of such clause. If the Master Servicer (with respect to Performing Loans (other than a Non-Serviced Mortgage Loan)
and with the consent of the Special Servicer) or the Special Servicer (with respect to Specially Serviced Loans), as applicable,
determines that (A) granting such consent would be likely to result in a greater recovery, (B) such provision is not
legally enforceable, or (C) that the conditions described in clause (a)(iii) above relating to the assumption or transfer
of a related Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced Whole Loan have been satisfied, the Master Servicer
(with respect to Performing Loans) or the Special Servicer (with respect to Specially Serviced Loans) is authorized to take or
enter into an assumption agreement from or with the Person to whom the related Mortgaged Property has been or is about to be conveyed,
and to release the original Borrower from liability upon such Mortgage Loan and substitute the new Borrower as obligor thereon,
provided that (a) the credit status of the prospective new Borrower is in compliance with the Servicing Standard and
the terms of the related Mortgage and (b) the


 



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Master Servicer (with respect to Performing Loans (other than a Non-Serviced
Mortgage Loan)) or the Special Servicer (with respect to Specially Serviced Loans), as applicable, has followed the Rating Agency
Confirmation process pursuant to Section 3.30 relating to the Certificates and Serviced Companion Loan Securities,
if any, with respect to Moody’s, Fitch or DBRS in the case of any such Mortgage Loan that (1) represents more than 5% of
the aggregate Stated Principal Balance of the Mortgage Loans then outstanding and has a Stated Principal Balance of at least $10,000,000,
(2) has a Stated Principal Balance that is more than $35,000,000, (3) represents one of the ten largest Mortgage Loans or groups
of cross-collateralized Mortgage Loans based on Stated Principal Balance and has a Stated Principal Balance of at least $10,000,000
or (4) is a Mortgage Loan as to which the related Serviced Companion Loan represents one of the ten largest mortgage loans in the
related Other Securitization based on outstanding principal balance (provided, that the Master Servicer or Special Servicer, as
applicable, shall be entitled to reasonably rely upon the written notification provided by the master servicer, special servicer,
trustee or certificate administrator of the applicable Other Securitization as to whether such Serviced Companion Loan is one of
the 10 largest mortgage loans in such Other Securitization). In addition, with respect to a Serviced Companion Loan, neither the
Master Servicer nor the Special Servicer, as applicable, shall waive any rights under a due on sale clause unless it first obtains
a Rating Agency Confirmation with respect to the related Serviced Companion Loan Securities. The Master Servicer and the Special
Servicer shall be entitled to rely on the master servicer and/or the special servicer of the Other Securitization to determine
whether a No Downgrade Confirmation is required with respect to the Serviced Companion Loans under the Other Securitization. In
connection with each such assumption or substitution entered into by the Special Servicer, the Special Servicer shall give prior
notice thereof to the Master Servicer. The Master Servicer (with respect to Performing Loans) or the Special Servicer (with respect
to Specially Serviced Loans) shall notify the Trustee, the Certificate Administrator, the Directing Holder and the Master Servicer
or the Special Servicer, as applicable, that any such assumption or substitution agreement has been completed by forwarding to
the Custodian (with a copy to the Master Servicer, the Certificate Administrator, the Trustee and the Directing Holder, as applicable)
the original copy of such agreement, which copies shall be added to the related Mortgage File and shall, for all purposes, be considered
a part of such Mortgage File to the same extent as all other documents and instruments constituting a part thereof. To the extent
not precluded by the Loan Documents, neither the Master Servicer (with respect to Performing Loans) nor the Special Servicer (with
respect to Specially Serviced Loans) shall approve an assumption or substitution without requiring the related Borrower to pay
any fees owed to the Rating Agencies associated with the approval of such assumption or substitution. However, if the related Borrower
is required but fails to pay such fees, such fees shall be an expense of the Trust Fund (and in the case of any Serviced Whole
Loan, such expense shall be allocated in accordance with the allocation provisions of the related Intercreditor Agreement); provided
that in the case of a Serviced Whole Loan the Master Servicer (if such Serviced Whole Loan is a Performing Loan) or the Special
Servicer (if such Serviced Whole Loan is a Specially Serviced Loan) shall be required, after receiving payment from amounts on
deposit in the Collection Account, if any, to (i) promptly notify the holder of the related Companion Loan and (ii) use
commercially reasonable efforts to exercise on behalf of the Trust Fund the rights of the Trust Fund under the related Intercreditor
Agreement to obtain reimbursement for a pro rata portion of such amount allocable to the related Serviced Companion Loan
from the holders of such Serviced Companion Loan.


 



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(b)          If any Mortgage Loan (other
than a Non-Serviced Mortgage Loan) or Serviced Whole Loan contains a provision in the nature of a “due-on-encumbrance”
clause, which by its terms:


 


(i)           provides that
such Mortgage Loan or Serviced Whole Loan shall (or may at the mortgagee’s option) become due and payable upon the creation
of any lien or other encumbrance on the related Mortgaged Property or any direct or indirect ownership interest in the borrower
(including, unless specifically permitted, any mezzanine financing of the Borrower or the Mortgaged Property or any sale or transfer
of preferred equity in the Borrower or its owners),


 


(ii)          requires the
consent of the related mortgagee to the creation of any such lien or other encumbrance on the related Mortgaged Property (including,
without limitation, any mezzanine financing of the Borrower or the Mortgaged Property or any sale or transfer of preferred equity
in the Borrower or its owners), or


 


(iii)         provides that
such Mortgaged Property may be further encumbered without the consent of the mortgagee (including, without limitation, any mezzanine
financing of the Borrower or the Mortgaged Property or any sale or transfer of preferred equity in the Borrower or its owners),
provided certain conditions set forth in the Loan Documents are satisfied,


 


then, neither the Master Servicer (with respect
to Performing Loans other than a Non-Serviced Mortgage Loan) nor the Special Servicer (with respect to Specially Serviced Loans),
on behalf of the Trust Fund, shall be required to enforce such due-on-encumbrance clauses and in connection therewith, will not
be required to (i) accelerate the payments on the related Mortgage Loan or Serviced Whole Loan or (ii) withhold its consent
to such lien or encumbrance, if the Master Servicer (with the consent of the Special Servicer) or the Special Servicer, as applicable,
subject to the rights of the Directing Holder, (x) determines, in accordance with the Servicing Standard that such enforcement
would not be in the best interests of the Trust Fund or the holder of the related Serviced Companion Loan, if applicable (giving
due regard to the junior nature of the related Subordinate Companion Loan, if any), or that in the case of a Mortgage Loan (other
than a Non-Serviced Mortgage Loan) or Serviced Whole Loan described in clause (b)(iii) above that the conditions to further
encumbrance have been satisfied and (y) as to any Mortgage Loan or Serviced Whole Loan, follows the Rating Agency Confirmation
procedure pursuant to Section 3.30 with respect to Moody’s, Fitch or DBRS in the case of any such Mortgage Loan
that (1) represents more than 2% of the aggregate Stated Principal Balance of the Mortgage Loans then outstanding, (2) has a Stated
Principal Balance that is more than $20,000,000, (3) represents one of the ten largest Mortgage Loans or groups of cross-collateralized
Mortgage Loans based on Stated Principal Balance, (4) has an aggregate loan-to-value ratio (including any existing and proposed
additional debt) that is equal to or greater than 85%, (5) has an aggregate Debt Service Coverage Ratio (in each case, determined
based upon the aggregate of the Stated Principal Balance of the related Mortgage Loan, any existing additional debt and the principal
amount of the proposed additional lien) that is less than 1.20x or (6) is a Mortgage Loan as to which the related Serviced Companion
Loan represents one of the ten largest mortgage loans in the related Other Securitization based on outstanding principal balance
(provided, that the Master Servicer or Special Servicer, as applicable, shall be entitled to reasonably rely upon the written notification
provided by the master servicer, special servicer, trustee or certificate administrator, 



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as applicable, of the applicable Other
Securitization as to whether such Serviced Companion Loan is one of the 10 largest mortgage loans in such Other Securitization);
provided that with respect to clauses (1), (3), (4), (5) and (6), such Mortgage Loan shall have a Stated Principal Balance
of at least $10,000,000 for the requirement of a Rating Agency Confirmation to apply. In addition, with respect to each Serviced
Companion Loan, neither the Master Servicer nor the Special Servicer, as applicable, shall waive any rights under a due-on-encumbrance
clause unless it first obtains a Rating Agency Confirmation with respect to the related Serviced Companion Loan Securities. To
the extent not precluded by the Loan Documents, neither the Master Servicer (with respect to Performing Loans) nor the Special
Servicer (with respect to Specially Serviced Loans) shall approve an assumption or substitution without requiring the related Borrower
to pay any fees owed to the Rating Agencies associated with the approval of such lien or encumbrance. However, if the related Borrower
is required but fails to pay such fees, such fees shall be an expense of the Trust Fund; provided that in the case of a
Serviced Whole Loan the Master Servicer (if such Serviced Whole Loan is a Performing Loan) or the Special Servicer (if such Serviced
Whole Loan is a Specially Serviced Loan) shall be required, after receiving payment from amounts on deposit in the Collection Account,
if any, to (i) promptly notify the holder of the related Companion Loan and (ii) use commercially reasonable efforts
to exercise on behalf of the Trust Fund the rights of the Trust Fund under the related Intercreditor Agreement to obtain reimbursement
for a pro rata portion of such amount allocable to the related Serviced Companion Loans from the holders of such Serviced
Companion Loans.


 


(c)          Neither the Master Servicer,
without the consent of the Special Servicer, nor the Special Servicer, without, if no Control Termination Event has occurred and
is continuing, the consent of the Directing Holder, may waive its rights or grant its consent under any “due-on-sale”
or “due-on-encumbrance” clause relating to any Mortgage Loan. The Directing Holder shall have 10 Business Days
(or longer period provided by the related Intercreditor Agreement) after receipt of notice along with the Special Servicer’s
recommendation and analysis with respect to such waiver and any additional information the Directing Holder may reasonably request
from the Special Servicer of a proposed waiver or consent under any “due-on-sale” or “due-on-encumbrance”
clause in which to grant or withhold its consent (provided that if the Special Servicer fails to receive a response to such
notice from the Directing Holder in writing within such period, then the Directing Holder shall be deemed to have consented to
such proposed waiver or consent).


 


(d)          The Master Servicer and the
Special Servicer, as applicable, shall provide copies of any waivers it effects pursuant to Section 3.09(a) or (b)
of this Agreement to the other party, the 17g-5 Information Provider (who shall promptly post such waivers to the 17g-5 Information
Provider’s Website pursuant to Section 3.14(d) of this Agreement) and the related Other 17g-5 Information Provider
(if any) with respect to each Mortgage Loan or Serviced Whole Loan.


 


(e)          Nothing in this Section 3.09
shall constitute a waiver of the Trustee’s right, as the mortgagee of record, to receive notice of any assumption of a Mortgage
Loan, any sale or other transfer of the related Mortgaged Property or the creation of any lien or other encumbrance with respect
to such Mortgaged Property.


 


(f)          In connection with the taking
of, or the failure to take, any action pursuant to this Section 3.09, the Special Servicer shall not agree to modify, waive
or amend, and no


 



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assumption or substitution agreement entered into pursuant to Section 3.09(a) of this Agreement shall
contain any terms that are different from, any term of any Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced
Whole Loan or the related Mortgage Note, other than pursuant to Section 3.26 hereof, as applicable.


 


(g)          With respect to any Mortgage
Loan (other than a Non-Serviced Mortgage Loan) or Serviced Whole Loan which permits release of Mortgaged Properties through defeasance:


 


(i)           Subject to the
consent rights and processes set forth in Section 6.07 with respect to Major Decisions and Section 3.26(o) with respect
to actions that are not Master Servicer Decisions, the Master Servicer shall process all defeasances of Mortgage Loans (other than
any Non-Serviced Mortgage Loan) and Serviced Companion Loans in accordance with the terms of the related Loan Documents, and shall
be entitled to any defeasance fees paid relating thereto (provided that for the avoidance of doubt, any such defeasance fee shall
not include the Special Servicer’s portion of any Modification Fees or waiver fees in connection with a defeasance that the
Special Servicer is entitled to under this Agreement).


 


(ii)          If such Mortgage
Loan or Serviced Whole Loan requires that the lender purchase the required government securities, then the Master Servicer shall
purchase, or shall cause the purchase of, such obligations on behalf of the Trust, at the related Borrower’s expense, in
accordance with the terms of such Mortgage Loan; provided that the Master Servicer shall not accept the amounts paid by
the related Borrower to effect defeasance until acceptable government securities have been identified.


 


(iii)         To the extent
not inconsistent with such Mortgage Loan or Serviced Whole Loan, the Master Servicer shall require the related Borrower to provide
an Opinion of Counsel (which shall be an expense of the related Borrower) to the effect that the Trustee has a first priority perfected
security interest in the defeasance collateral (including the government securities) and the assignment of the defeasance collateral
is valid and enforceable; such opinion, together with any other certificates or documents to be required in connection with such
defeasance shall be in form and substance acceptable to each Rating Agency.


 


(iv)         To the extent
not inconsistent with such Mortgage Loan or Serviced Whole Loan, the Master Servicer shall require a certificate at the related
Borrower’s expense from an Independent certified public accountant certifying to the effect that the government securities
will provide cash flows sufficient to meet all payments of interest and principal (including payments at maturity) on such
Mortgage Loan or Serviced Whole Loan in compliance with the requirements of the terms of the related Loan Documents.


 


(v)          Prior to permitting
the release of any Mortgaged Property through defeasance, the Master Servicer shall obtain, at the related Borrower’s expense,
a Rating Agency Confirmation; provided, the Master Servicer shall not be required to obtain such Rating Agency Confirmation
from any Rating Agency if such Mortgage Loan at the time of such defeasance is not (x) a Mortgage Loan that (together with
any Mortgage Loans cross-collateralized with such Mortgage Loan) is one of the ten largest Mortgage Loans by


 



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Stated Principal Balance,
(y) a Mortgage Loan with a Stated Principal Balance equal to or greater than $20,000,000 or (z) a Mortgage Loan that represents
5% or more of the Stated Principal Balance of all Mortgage Loans.


 


(vi)         Prior to permitting
release of any Mortgaged Property through defeasance, the Master Servicer shall require an Opinion of Counsel to the effect that
such release will not cause any Trust REMIC to fail to qualify as a REMIC at any time that any Certificates are outstanding or
cause a tax to be imposed on the Trust Fund under the REMIC Provisions; provided that to the extent not inconsistent with
the Mortgage Loan or Serviced Whole Loan, the related Borrower shall pay the cost related to the Opinion of Counsel (and shall
otherwise be a Servicing Advance).


 


(vii)        No defeasance
shall occur on or prior to the second anniversary of the Startup Day of the Trust REMICs, or in the case of any Companion Loan,
the later of the second anniversary of the Startup Day of the Trust REMICs and the second anniversary of the startup day of any
REMIC holding such Companion Loan.


 


(viii)       The Trustee
shall at the expense of the related Borrower (to the extent not inconsistent with the related Loan Documents) hold the U.S. government
securities as pledgee for the benefit of the Certificateholders and, if applicable, the Serviced Companion Loan Noteholders, and
the Certificate Administrator shall apply payments of principal and interest received on the government obligations to the Collection
Account (or Serviced Whole Loan Collection Account) in respect of the defeased Mortgage Loan or Serviced Whole Loan according to
the payment schedule existing immediately prior to the defeasance.


 


(ix)         The Master
Servicer shall, in accordance with the Servicing Standard, enforce provisions in the Mortgage Loans that it is servicing requiring
Borrowers to pay all reasonable expenses associated with a defeasance.


 


(x)          To the extent
not inconsistent with such Mortgage Loan, or to the extent the related Loan Documents provide the lender with discretion, the Master
Servicer shall require a single purpose entity, formed solely for the purpose of owning and pledging the government securities
related to one or more of the Mortgage Loans, to act as a successor borrower.


 


(xi)         The Master
Servicer may accept as defeasance collateral of any “government security,” within the meaning of Treasury Regulation’s
Section 1.860G-(2)(a)(8)(ii), notwithstanding any more restrictive requirements in the Loan Documents; provided, that
the Master Servicer has received an Opinion of Counsel that acceptance of such defeasance collateral will not cause an Adverse
REMIC Event.


 


(xii)        Neither the
Master Servicer nor the Special Servicer shall charge a fee for defeasance in excess of that permitted under the Loan Documents
in the event that the Loan Documents provide for such a fee limitation.


 


(h)          With respect to all Specially
Serviced Loans and Performing Loans, the Special Servicer shall, prior to waiving its rights or granting its consent to any proposed
action of


 






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the Master Servicer under this Section 3.09, and prior to itself taking such an action, obtain the written
consent of the Directing Holder, which consent shall be deemed given 10 Business Days (or such longer period if necessary for a
Serviced Whole Loan pursuant to the terms of the related Intercreditor Agreement) after receipt (unless earlier objected to) by
the Directing Holder of the Master Servicer’s and/or Special Servicer’s, as applicable, written analysis and recommendation
with respect to such action together with such other information reasonably requested by the Directing Holder. When the Special
Servicer’s consent is requested under this Section 3.09, such consent shall be deemed given 15 Business Days
(or such longer time period pursuant to the terms of the related Intercreditor Agreement but not less than five (5) Business Days
after the time period set forth therein for Directing Holder approval) after receipt (unless earlier objected to) by the Special
Servicer from the Master Servicer of the Master Servicer’s written analysis and recommendation with respect to such proposed
action together with such other information reasonably requested by the Special Servicer.


 


Section 3.10          Appraisals;
Realization upon Defaulted Loans. (a) Other than with respect to a Non-Serviced Mortgage Loan, contemporaneously with the
earliest of (i) the effective date of any (A) modification of the Maturity Date or extended Maturity Date, a
Mortgage Rate, principal balance or amortization terms of any Mortgage Loan or Serviced Whole Loan or any other term of a
Mortgage Loan or Serviced Whole Loan, (B) extension of the Maturity Date or extended Maturity Date of a Mortgage Loan or
Serviced Whole Loan as described below in Section 3.26 of this Agreement, or (C) consent to the release of
any Mortgaged Property from the lien of the related Mortgage other than pursuant to the terms of the related Mortgage Loan or
Serviced Whole Loan, (ii) the occurrence of an Appraisal Reduction Event, (iii) a default in the payment of a Balloon
Payment for which an extension is not granted, or (iv) the date on which the Special Servicer, consistent with the
Servicing Standard, requests an Updated Valuation, the Special Servicer shall use commercially reasonable efforts to obtain
an Updated Valuation (or a letter update for an existing appraisal which is less than two years old) within 60 days of
such request, the cost of which shall constitute a Servicing Advance; provided, that the Special Servicer shall not be
required to obtain an Updated Valuation pursuant to clauses (i) through (iv) above with respect to any Mortgaged
Property for which there exists an Appraisal, Updated Appraisal or Small Loan Appraisal Estimate which is less than nine
months old unless the Special Servicer has actual knowledge of a material adverse change in circumstances that,
consistent with the Servicing Standard, would call into question the validity of such Appraisal, Updated Appraisal or Small
Loan Appraisal Estimate. For so long as such Mortgage Loan or Serviced Whole Loan is a Specially Serviced Loan, (i) the
Special Servicer shall, within 30 days of the end of each 9-month period following the related Appraisal Reduction Event, use
commercially reasonable efforts to order an Appraisal (which may be an update of a prior Appraisal), the cost of which shall
constitute a Servicing Advance and (ii) the Master Servicer shall recalculate the Appraisal Reduction Amount prior to
the Special Servicer granting extensions beyond one year or any subsequent extension after granting a one year extension with
respect to the same Mortgage Loan or Serviced Whole Loan. Subject to any required consent from the Directing Holder, nothing
herein is intended to limit the Special Servicer’s ability to pursue multiple strategies contemporaneously if the
Special Servicer deems such actions appropriate under the Servicing Standard. The Special Servicer shall update, in
accordance with the timing described above, each Small Loan Appraisal Estimate or Updated Appraisal for so long as an
Appraisal Reduction Event exists with respect to the related Mortgage Loan or Serviced Whole Loan and the Master Servicer
shall recalculate the Appraisal


 






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Reduction Amount based on such updated Small Loan Appraisal Estimate or Updated Appraisal.
The Special Servicer shall send all such letter updates and Updated Valuations to the Master Servicer, the Trustee, the
Operating Advisor, the 17g-5 Information Provider (who shall promptly post such materials to the 17g-5
Information Provider’s Website pursuant to Section 3.14(d) of this Agreement), the related Serviced
Companion Loan Noteholder (if any) and, for so long as no Consultation Termination Event has occurred, the Directing
Holder.


 


The Special Servicer shall monitor
each Specially Serviced Loan, evaluate whether the causes of the default can be corrected over a reasonable period without significant
impairment of the value of the related Mortgaged Property, initiate corrective action in cooperation with the Borrower if, in the
Special Servicer’s judgment, cure is likely, and take such other actions (including without limitation, negotiating and accepting
a discounted payoff of a Mortgage Loan or Serviced Whole Loan) as are consistent with the Servicing Standard. If, in the Special
Servicer’s judgment, such corrective action has been unsuccessful, no satisfactory arrangement can be made for collection
of delinquent payments, and the Specially Serviced Loan has not been released from the Trust Fund pursuant to any provision hereof,
and except as otherwise specifically provided in Section 3.09(a) and 3.09(b) of this Agreement, the Special
Servicer may, to the extent consistent with the Asset Status Report (and with the consent of the Directing Holder if no Control
Termination Event has occurred and is continuing) and with the Servicing Standard, accelerate such Specially Serviced Loan and
commence a foreclosure or other acquisition with respect to the related Mortgaged Property or Properties, provided that
the Special Servicer determines that such acceleration and foreclosure are more likely to produce a greater recovery to Certificateholders
and, if applicable, Serviced Companion Loan Noteholders (as a collective whole as if such Certificateholders and, if applicable,
Serviced Companion Loan Noteholders, constituted a single lender) (and with respect to any Serviced Whole Loan with a related Subordinate
Companion Loan, taking into account the subordinate nature of such Subordinate Companion Loan) on a present value basis (discounting
at the related Calculation Rate) than would a waiver of such default or an extension or modification in accordance with the provisions
of Section 3.26 hereof. In connection with causing the Trust to foreclose on collateral that consists of multiple properties
held for sale to customers by the related Borrower (such as unsold condominium units in a single project), the Special Servicer
directing such foreclosure shall consider the effect of the bidding price for the properties on the tax basis of such properties
if such properties are likely to be treated in the hands of the Trust as properties held for sale to customers. The Master Servicer
shall pay the costs and expenses in any such proceedings as a Servicing Advance unless the Master Servicer or the Special Servicer,
as applicable, determines, in its good faith judgment, that such Servicing Advance would constitute a Nonrecoverable Advance; provided,
if such Servicing Advance would constitute a Nonrecoverable Advance but the Special Servicer determines that such payment would
be in best interests of the Certificateholders and, if applicable, Serviced Companion Loan Noteholders (as a collective whole as
if such Certificateholders and (with respect to a Serviced Whole Loan) Serviced Companion Loan Noteholders constituted a single
lender (with the Master Servicer permitted to conclusively rely upon any such determination by the Special Servicer), the Special
Servicer shall direct the Master Servicer to make such payment from the Collection Account (or, if applicable, the applicable Serviced
Whole Loan Collection Account), which payment shall be an Additional Trust Fund Expense. The Trustee shall be entitled to conclusively
rely upon any determination of the Master Servicer or Special Servicer that a Servicing Advance, if made, would constitute a Nonrecoverable
Advance. If the Master Servicer does not make such


 






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Servicing Advance in violation of the second preceding sentence, the Trustee
shall make such Servicing Advance, unless the Trustee determines that such Servicing Advance would be a Nonrecoverable Advance.
The Master Servicer and the Trustee, as applicable, shall be entitled to reimbursement of Servicing Advances (with interest at
the Reimbursement Rate) made pursuant to this paragraph to the extent permitted by Section 3.06 of this Agreement.


 


(b)          If the Special Servicer elects
to proceed with a non-judicial foreclosure in accordance with the laws of the state where the Mortgaged Property is located, the
Special Servicer shall not be required to pursue a deficiency judgment against the related Borrower or any other liable party if
(i) the laws of the state do not permit such a deficiency judgment after a non-judicial foreclosure or (ii) if the Special
Servicer determines, in its best judgment, that the likely recovery if a deficiency judgment is obtained will not be sufficient
to warrant the cost, time, expense and/or exposure of pursuing the deficiency judgment and such determination is evidenced by an
Officer’s Certificate delivered to the Trustee and the Certificate Administrator.


 


(c)          In the event that title to any
Mortgaged Property is acquired in foreclosure or by deed in lieu of foreclosure, the deed or certificate of sale shall be issued
to the Trustee (on behalf of the Trust Fund), or to its nominee (which shall not include the Special Servicer) or a separate Trustee
or co-Trustee on behalf of the Trustee as Holder of the Lower-Tier Regular Interests and the Certificateholders and, if applicable,
the Serviced Companion Loan Noteholders. Notwithstanding any such acquisition of title and cancellation of the related Mortgage
Loan or Serviced Whole Loan, as applicable, such Mortgage Loan or Serviced Whole Loan, as applicable, shall (except for purposes
of Section 9.01 of this Agreement) be considered to be a Serviced REO Loan until such time as the related Serviced
REO Property shall be sold by the Trust Fund and shall be reduced only by collections net of expenses. Consistent with the foregoing,
for purposes of all calculations hereunder, so long as such Mortgage Loan or Serviced Whole Loan, as applicable, shall be considered
to be an outstanding Mortgage Loan or Serviced Whole Loan, as applicable:


 


(i)           it shall be
assumed that, notwithstanding that the indebtedness evidenced by the related Mortgage Note shall have been discharged, such Mortgage
Note and, for purposes of determining the Stated Principal Balance thereof, the related amortization schedule in effect at the
time of any such acquisition of title shall remain in effect; and


 


(ii)          subject to
Section 1.02(g) of this Agreement, Net REO Proceeds received in any month shall be applied to amounts that would have
been payable under the related Mortgage Note(s) in accordance with the terms of such Mortgage Note(s) and any applicable Intercreditor
Agreement. In the absence of such terms, Net REO Proceeds shall, subject to Section 1.02(g) of this Agreement, be deemed
to have been received first, in payment of the accrued interest that remained unpaid on the date that the related Serviced
REO Property was acquired by the Trust Fund; second, in respect of the delinquent principal installments that remained unpaid
on such date; and thereafter, Net REO Proceeds received in any month shall be applied to the payment of installments of
principal and accrued interest on such Mortgage Loan or Serviced Companion Loan, as applicable, deemed to be due and payable in
accordance with the terms of such Mortgage Note(s) and such amortization schedule until such principal has been paid in full and
then to other amounts due under such Mortgage Loan or Serviced Companion Loan, as applicable. If such Net REO Proceeds exceed the
Periodic Payment then payable, the


 



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excess shall be treated as a Principal Prepayment received in respect of such Mortgage Loan
or Serviced Companion Loan, as applicable.


 


(d)          Notwithstanding any provision
herein to the contrary, the Special Servicer shall not acquire for the benefit of the Trust Fund any personal property pursuant
to this Section 3.10 unless either:


 


(i)           such personal
property is incident to real property (within the meaning of Section 856(e)(l) of the Code) so acquired by the Special Servicer
for the benefit of the Trust Fund; or


 


(ii)          the Special
Servicer shall have requested and received an Opinion of Counsel (which opinion shall be an expense of the Lower-Tier REMIC) to
the effect that the holding of such personal property by the Lower-Tier REMIC will not cause the imposition of a tax on any Trust
REMIC under the REMIC Provisions or cause any Trust REMIC to fail to qualify as a REMIC at any time that any Certificate is outstanding
(and such Opinion of Counsel may be premised on the designation hereby of any such personal property as being deemed part of an
“outside reserve fund” (within the meaning of Treasury Regulations Section 1.860G-2(h)) with the owner of such personal
property for federal income tax purposes to be designated at such time).


 


(e)          Notwithstanding any provision
to the contrary in this Agreement, the Special Servicer shall not, on behalf of the Trust Fund, obtain title to any direct or indirect
partnership interest or other equity interest in any Borrower pledged pursuant to any pledge agreement unless the Special Servicer
shall have requested and received an Opinion of Counsel (which opinion shall be an expense of the Trust Fund (and in the case of
any Serviced Whole Loan, such expense shall be allocated in accordance with the allocation provisions of the related Intercreditor
Agreement)) to the effect that the holding of such partnership interest or other equity interest by the Trust Fund will not cause
the imposition of a tax on any Trust REMIC under the REMIC Provisions or cause any Trust REMIC to fail to qualify as a REMIC at
any time that any Certificate is outstanding.


 



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(f)          Notwithstanding any provision
to the contrary contained in this Agreement, the Special Servicer shall not cause the Trustee, on behalf of the Trust Fund, to
obtain title to a Mortgaged Property as a result of or in lieu of foreclosure or otherwise, to obtain title to any direct or indirect
partnership interest in any Borrower pledged pursuant to a pledge agreement and thereby be the beneficial owner of a Mortgaged
Property, have a receiver of rents appointed with respect to, and shall not otherwise cause the Trustee to acquire possession of,
or take any other action with respect to, any Mortgaged Property if, as a result of any such action, the Trustee, for the Trust
Fund, the Certificateholders or Serviced Companion Loan Noteholders, if applicable, would be considered to hold title to, to be
a “mortgagee-in-possession” of, or to be an “owner” or “operator” of such Mortgaged Property
within the meaning of the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended from time to
time, or any comparable law, unless the Special Servicer has previously determined in accordance with the Servicing Standard, based
on an updated environmental assessment report prepared by an Independent Person who regularly conducts environmental audits (which
report shall be an expense of the Trust), performed within six months prior to any such acquisition of title or other action that:


 


(i)           such Mortgaged
Property is in compliance with applicable environmental laws or, if not, after consultation with an environmental consultant, that
it would be in the best economic interest of the Certificateholders (and with respect to the Serviced Whole Loans, the Serviced
Companion Loan Noteholders), as a collective whole as if such Certificateholders and, if applicable, Serviced Companion Loan Noteholders
constituted a single lender (and with respect to any Serviced Whole Loan with a related Serviced Subordinate Companion Loan, taking
into account the subordinate nature of such Serviced Subordinate Companion Loan), to take such actions as are necessary to bring
such Mortgaged Property in compliance therewith, and


 


(ii)          there are no
circumstances present at such Mortgaged Property relating to the use, management or disposal of any Hazardous Materials for which
investigation, testing, monitoring, containment, clean-up or remediation could be required under any currently effective federal,
state or local law or regulation, or that, if any such Hazardous Materials are present for which such action could be required,
after consultation with an environmental consultant, it would be in the best economic interest of the Certificateholders (and with
respect to any Serviced Whole Loan, the Serviced Companion Loan holders), as a collective whole as if such Certificateholders and,
if applicable, Serviced Companion Loan holders constituted a single lender (and with respect to any Serviced Whole Loan with a
related Subordinate Companion Loan, taking into account the subordinate nature of such Subordinate Companion Loan), to take such
actions with respect to the affected Mortgaged Property.


 


In the event that the environmental
assessment first obtained by the Special Servicer with respect to a Mortgaged Property indicates that such Mortgaged Property may
not be in compliance with applicable environmental laws or that Hazardous Materials may be present but does not definitively establish
such fact, the Special Servicer shall cause such further environmental tests to be conducted by an Independent Person who regularly
conducts such tests as the Special Servicer shall deem prudent to protect the interests of Certificateholders and, if


 



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applicable,
the Serviced Companion Loan Noteholders. Any such tests shall be deemed part of the environmental assessment obtained by the Special
Servicer for purposes of this Section 3.10.


 


(g)          The environmental assessment
contemplated by Section 3.10(f) of this Agreement shall be prepared within three months (or as soon thereafter as practicable)
of the determination that such assessment is required by any Independent Person who regularly conducts environmental audits for
purchasers of commercial property where the Mortgaged Property is located, as determined by the Special Servicer in a manner consistent
with the Servicing Standard. Upon the written direction of the Special Servicer and delivery by the Special Servicer to the Master
Servicer of pertinent back-up information the Master Servicer shall advance the cost of preparation of such environmental assessments
as a Servicing Advance unless the Master Servicer determines, in its good faith judgment, that such Servicing Advance would be
a Nonrecoverable Advance. The Master Servicer shall be entitled to reimbursement of Servicing Advances (with interest at the Reimbursement
Rate) made pursuant to the preceding sentence to the extent permitted by Section 3.06. The Special Servicer shall provide
written reports and a copy of any environmental assessments in electronic format to the Directing Holder (if no Consultation Termination
Event has occurred and is continuing), the Master Servicer, the related Serviced Companion Loan Noteholder (if any) and the 17g-5
Information Provider (who shall promptly post such materials to the 17g-5 Information Provider’s Website pursuant to Section 3.14(d)
of this Agreement), monthly regarding any actions taken by the Special Servicer with respect to any Mortgaged Property securing
a Defaulted Loan or defaulted Serviced Companion Loan as to which the environmental testing contemplated by Section 3.10(f)
of this Agreement has revealed that either of the conditions set forth in clauses (i) and (ii) of the first sentence
thereof has not been satisfied, in each case until the earlier to occur of (i) satisfaction of both such conditions, (ii) repurchase
of the related Mortgage Loan by the Mortgage Loan Seller or (iii) release of the lien of the related Mortgage on such Mortgaged
Property.


 


(h)          If the Special Servicer determines
pursuant to Section 3.10(f)(i) of this Agreement that a Mortgaged Property is not in compliance with applicable environmental
laws but that it is in the best economic interest of the Trust Fund (and with respect to the Serviced Whole Loans, the Serviced
Companion Loan Noteholders), as a collective whole as if such Certificateholders and, if applicable, Serviced Companion Loan Noteholders
constituted a single lender, to take such actions as are necessary to bring such Mortgaged Property in compliance therewith, or
if the Special Servicer determines pursuant to Section 3.10(f)(ii) of this Agreement that the circumstances referred
to therein relating to Hazardous Materials are present but that it is in the best economic interest of the Trust Fund (and with
respect to the Serviced Whole Loans, the Serviced Companion Loan Noteholders), as a collective whole as if such Certificateholders
and, if applicable, Serviced Companion Loan Noteholders constituted a single lender, to take such action with respect to the containment,
clean-up or remediation of Hazardous Materials affecting such Mortgaged Property as is required by law or regulation, the Special
Servicer shall (with the consent of the Directing Holder if no Control Termination Event has occurred and is continuing) take such
action as it deems to be in the best economic interest of the Trust Fund (and with respect to the Serviced Whole Loans, the Serviced
Companion Loan Noteholders), as a collective whole as if such Certificateholders and, if applicable, Serviced Companion Loan Noteholders
constituted a single lender, but only if the Certificate Administrator has mailed notice to the Holders of the Regular Certificates
and the related Serviced Companion Loan Noteholders of such proposed action, which notice shall be prepared by the Special Servicer,
and


 



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only if the Certificate Administrator does not receive, within 30 days of such notification, instructions from the Holders
of Regular Certificates entitled to a majority of the Voting Rights and, with respect to Serviced Whole Loans, the applicable Serviced
Companion Loan Noteholders directing the Special Servicer not to take such action. Notwithstanding the foregoing, if the Special
Servicer reasonably determines that it is likely that within such 30-day period irreparable environmental harm to such Mortgaged
Property would result from the presence of such Hazardous Materials and provides a prior written statement to the Trustee and the
Certificate Administrator setting forth the basis for such determination, then the Special Servicer may take or cause to be taken
such action to remedy such condition as may be consistent with the Servicing Standard. None of the Trustee, the Certificate Administrator,
the Master Servicer or the Special Servicer shall be obligated to take any action or not take any action pursuant to this Section 3.10(h)
at the direction of the Certificateholders or with respect to any Serviced Whole Loan, at the direction of the Certificateholders
and the related Serviced Companion Loan Noteholders unless the Certificateholders and, with respect to any Serviced Companion Loan,
the Serviced Companion Loan Noteholders agree to indemnify the Trustee, the Certificate Administrator, the Master Servicer and
the Special Servicer with respect to such action or inaction. The Master Servicer shall advance the cost of any such compliance,
containment, clean-up or remediation as a Servicing Advance unless the Master Servicer determines, in its good faith judgment,
that such Advance would constitute a Nonrecoverable Advance.


 


(i)           The Special Servicer shall notify
the Master Servicer of any Mortgaged Property (other than a Mortgaged Property securing a Non-Serviced Mortgage Loan) which is
abandoned or foreclosed that requires reporting to the IRS and shall provide the Master Servicer with all information regarding
forgiveness of indebtedness and required to be reported with respect to any Mortgage Loan (other than a Non-Serviced Mortgage Loan)
or Serviced Whole Loan which is abandoned or foreclosed and the Master Servicer shall report to the IRS and the related Borrower,
in the manner required by applicable law, such information and the Master Servicer shall report, via Form 1099C or Form 1099A,
all forgiveness of indebtedness to the extent such information has been provided to the Master Servicer by the Special Servicer.
The Master Servicer shall deliver a copy of any such report to the Trustee and the Certificate Administrator.


 


(j)           The costs of any Updated Valuation
obtained pursuant to this Section 3.10 shall be paid by the Master Servicer as a Servicing Advance and shall be reimbursable
from the Collection Account or, with respect to the Serviced Whole Loans, first, from the applicable Serviced Whole Loan
Collection Account and second, to the extent amounts in the Serviced Whole Loan Collection Accounts are insufficient therefor,
from the Collection Account in accordance with Section 3.06(a); provided that the Master Servicer shall, after
receiving payment from amounts on deposit in the Collection Account, if any, (i) promptly notify the related Companion Loan
Noteholder and (ii) use commercially reasonable efforts to exercise on behalf of the Trust any rights under the related Intercreditor
Agreement to obtain reimbursement for a pro rata portion of such amount allocable to the related Serviced Companion Loans
from the related Companion Loan Noteholders.


 


Section 3.11          Custodian
to Cooperate; Release of Mortgage Files. Upon the payment in full of any Mortgage Loan or Serviced Whole Loan, or the
receipt by the Master






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Servicer of a notification that payment in full has been escrowed in a manner customary for such purposes,
the Master Servicer shall immediately notify the Custodian by a certification (which certification shall include a statement to
the effect that all amounts received or to be received in connection with such payment which are required to be deposited in the
Collection Account or the applicable Serviced Whole Loan Collection Account, as applicable, pursuant to Section 3.05
of this Agreement have been or will be so deposited) of a Servicing Officer and shall request delivery to it of the related Mortgage
File. Any expense incurred in connection with any instrument of satisfaction or deed of reconveyance that is not paid by the related
Borrower shall be chargeable to the Trust Fund. The Master Servicer agrees to use reasonable efforts in accordance with the Servicing
Standard to enforce any provision in the relevant Loan Documents that require the Borrower to pay such amounts. No expenses incurred
in connection with any instrument of satisfaction or deed of reconveyance shall be an expense of the Custodian.


 


From time to time upon request of the
Master Servicer or the Special Servicer and delivery to the Custodian of a Request for Release, the Custodian shall promptly release
the Mortgage File (or any portion thereof) designated in such Request for Release to the Master Servicer or the Special Servicer,
as applicable. Upon return of the foregoing to the Custodian, or in the event of a liquidation or conversion of the Mortgage Loan
or the Serviced Whole Loan into a Serviced REO Property, or in the event of a substitution of a Mortgage Loan pursuant to Section 2.03
of this Agreement, or receipt by the Custodian of a certificate of a Servicing Officer stating that such Mortgaged Property was
liquidated and that all amounts received or to be received in connection with such liquidation which are required to be deposited
into the Collection Account or the applicable Serviced Whole Loan Collection Account, as applicable, have been so deposited, or
that such Mortgage Loan or Serviced Whole Loan has become a Serviced REO Property, or that the Master Servicer has received a Qualified
Substitute Mortgage Loan and the applicable Substitution Shortfall Amount, the Custodian shall deliver a copy of the Request for
Release to the Master Servicer or the Special Servicer, as applicable. If from time to time, pursuant to the terms of the applicable
Intercreditor Agreement or Other Pooling and Servicing Agreement, and as appropriate for enforcing the terms of the related Non-Serviced
Mortgage Loan, the Other Servicer or the Other Special Servicer requests delivery to it of the original Mortgage Note by providing
the Trustee and the Custodian a Request for Release, then the Custodian shall release or cause the release of such original Mortgage
Note to the Other Servicer or the Other Special Servicer or its designee.


 


Within five (5) Business Days (or,
in case of an emergency, within such shorter period as is reasonable under the circumstances) after receipt of a written certification
of a Servicing Officer, the Trustee shall execute and deliver to the Master Servicer (with respect to Performing Loans) and the
Special Servicer (with respect to Specially Serviced Loans and REO Loans) any court pleadings, requests for a trustee’s sale
or other documents prepared by the Special Servicer, its agents or attorneys, necessary to the foreclosure or trustee’s sale
in respect of a Mortgaged Property or to any legal action brought to obtain judgment against any Borrower on the Mortgage Note
or Mortgage or to obtain a deficiency judgment, or to enforce any other remedies or rights provided by the Mortgage Note or Mortgage
or otherwise available at law or in equity. Each such certification shall include a request that such pleadings or documents be
executed by the Trustee and a statement as to the reason such documents or pleadings are required, that the proposed action is
consistent with the Servicing Standard and that the execution and delivery thereof by the Trustee will not invalidate or otherwise
affect the lien of


 






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 the Mortgage, except for the termination of such a lien upon completion of the foreclosure or trustee’s
sale.


 


With respect to each Servicing Shift
Whole Loan, on and after the related Servicing Shift Securitization Date, if pursuant to the related Intercreditor Agreement and
the related Other Pooling and Servicing Agreement, and as appropriate for enforcing the terms of such Servicing Shift Whole Loan,
as applicable, the related Other Servicer requests in writing delivery to it of the original Note, then the Custodian shall release
or cause the release of such original Note to the related Other Servicer or its designee.


 


Section 3.12          Servicing
Fees, Certificate Administrator/Trustee Fees and Special Servicing Compensation. (a) As compensation for its activities
hereunder, the Master Servicer shall be entitled to the Servicing Fee with respect to each Mortgage Loan and Serviced Companion
Loan. The Master Servicer’s rights to the Servicing Fee may not be transferred in whole or in part except in connection
with the transfer of all of the Master Servicer’s responsibilities and obligations under this Agreement or as provided in
the second succeeding paragraph with respect to the Excess Servicing Fee.


 


In addition, the Master Servicer shall
be entitled to receive, as additional Servicing Compensation, to the extent permitted by applicable law and the related Loan Documents
and any related Intercreditor Agreement, (i) all investment income earned on amounts on deposit in the Collection Account
(and with respect to each Serviced Whole Loan, the related Serviced Whole Loan Collection Account) and certain Reserve Accounts
(to the extent consistent with the related Loan Documents), (ii) any Net Default Interest and any other Penalty Charges collected
by the Master Servicer or the Special Servicer during a Collection Period accrued on any Performing Loan (and the related Serviced
Companion Loan, if applicable), in each case, remaining after application thereof during such Collection Period to pay the Advance
Interest Amount relating to such Performing Loan and to pay or reimburse the Trust for any unreimbursed Additional Trust Fund Expenses
(including Special Servicing Fees, Workout Fees and Liquidation Fees) relating to such Performing Loan incurred during or prior
to such Collection Period, and, in the case of the Serviced Whole Loans, to the extent allocated to the related Mortgage Loan in
the related Intercreditor Agreement and as further described in Section 3.12(d), (iii) any amounts collected for
checks returned for insufficient funds (with respect to any Performing Loan or Specially Serviced Loan) and (iv) to the extent
permitted by applicable law and the related Loan Documents, 100% of any Modification Fees and consent fees related to any consents,
modifications, waivers, extensions or amendments of any Mortgage Loans (and the related Serviced Companion Loans) that are non-Specially
Serviced Loans that involve one or more Master Servicer Decisions, provided that the consent of the Special Servicer is
not required to take such actions, 50% of any Modification Fees and consent fees (or similar fees) related to any consents, modifications,
waivers, extensions or amendments of any Mortgage Loans (and the related Serviced Companion Loans) that are non-Specially Serviced
Loans that involve one or more Major Decisions or decisions that are not Master Servicer Decisions, provided that the consent
of the Special Servicer is required to take such actions, 100% of any defeasance fees (provided that for the avoidance of doubt,
any such defeasance fee shall not include the Special Servicer’s portion of any Modification Fees or waiver fees in connection
with a defeasance that the Special Servicer is entitled to under this Agreement), 100% of Assumption Fees relating to the transactions
referred to in Section 3.09 of this Agreement with respect to


 






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Performing Loans or Serviced Companion Loans; provided,
that with respect to such transactions, the consent of the Special Servicer is not required to take such actions, 50% of Assumption
Fees with respect to Performing Loans or Serviced Companion Loans; provided, that the consent of the Special Servicer is
required to take such actions, 100% of beneficiary statement charges or demand fees (but not including Prepayment Premiums or Yield
Maintenance Charges) with respect to Performing Loans or Serviced Companion Loan and 100% of assumption application fees with respect
to Performing Loans or Serviced Companion Loans, in each case to the extent received and not required to be deposited or retained
in the Collection Account (or Serviced Whole Loan Collection Account), in each case pursuant to Section 3.05 of this
Agreement. The Master Servicer shall also be entitled pursuant to, and to the extent provided in, Section 3.06(a)(viii)
or 3.07(b) of this Agreement, as applicable, to withdraw from the Collection Account and to receive from any Borrower Accounts
(to the extent not payable to the related Borrower under the Mortgage Loan or applicable law), Net Prepayment Interest Excess,
if any, that accrue on the Mortgage Loans that it is servicing and any interest or other income earned on deposits therein. In
addition, the Master Servicer shall be entitled to the portion of Net Default Interest and any late payment fees or penalty charges
collected by the Other Servicer servicing a Non-Serviced Mortgage Loan that are allocated to such Non-Serviced Mortgage Loan remaining
after application thereof to reimburse interest on related P&I Advances and to reimburse the Trust for certain expenses of
the Trust, if applicable, as provided in this Agreement. Except as specified in the preceding sentence and except with respect
to clause (i) in this paragraph, the Master Servicer will not be entitled to the compensation set forth in clauses (iii)
and (iv) in this paragraph with respect to a Non-Serviced Mortgage Loan.


 


Notwithstanding anything to the contrary,
the Master Servicer and the Special Servicer will each be entitled to charge the related Borrower reasonable review fees in connection
with any borrower request.


 


With respect to any of the preceding
fees as to which both the Master Servicer and the Special Servicer are entitled to receive a portion thereof, the Master Servicer
and the Special Servicer shall each have the right, but not any obligation, to reduce or elect not to charge its respective portion
of such fee; provided that (A) neither the Master Servicer nor the Special Servicer shall have the right to reduce or elect not
to charge the portion of any such fee due to the other and (B) to the extent either the Master Servicer or the Special Servicer
exercises its right to reduce or elect not to charge its respective portion in any such fee, the party that reduced or elected
not to charge its respective portion of such fee shall not have any right to share in any part of the other party’s portion
of such fee. If the Master Servicer decides not to charge any fee, the Special Servicer shall nevertheless be entitled to charge
its portion of the related fee to which the Special Servicer would have been entitled if the Master Servicer had charged a fee
and the Master Servicer shall not be entitled to any of such fee charged by the Special Servicer.


 


The Master Servicer and any successor
holder of the Excess Servicing Fee Rights that relate to the Mortgage Loans (and any successor REO Loans with respect to such Mortgage
Loans) shall be entitled, at any time, at its own expense, to transfer, sell, pledge or otherwise assign such Excess Servicing
Fee Rights in whole (but not in part), in either case, to any Qualified Institutional Buyer or Institutional Accredited Investor
(other than a Plan); provided that no such transfer, sale, pledge or other assignment shall be made unless (i) that
transfer, sale, pledge or other assignment is exempt from the registration and/or qualification requirements of


 



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the Act and any
applicable state securities laws and is otherwise made in accordance with the Act and such state securities laws, (ii) the
prospective transferor shall have delivered to the Depositor a certificate substantially in the form attached as Exhibit AA-1
hereto and (iii) the prospective transferee shall have delivered to the Master Servicer and the Depositor a certificate substantially
in the form attached as Exhibit AA-2 hereto. None of the Depositor, the Trustee, the Certificate Administrator, the
Operating Advisor, the Asset Representations Reviewer or the Certificate Registrar is obligated to register or qualify an Excess
Servicing Fee Right under the Act or any other securities law or to take any action not otherwise required under this Agreement
to permit the transfer, sale, pledge or assignment of an Excess Servicing Fee Right without registration or qualification. The
Master Servicer and each holder of an Excess Servicing Fee Right desiring to effect a transfer, sale, pledge or other assignment
of such Excess Servicing Fee Right shall, and the Master Servicer hereby agrees, and each such holder of an Excess Servicing Fee
Right by its acceptance of such Excess Servicing Fee Right shall be deemed to have agreed, in connection with any transfer of such
Excess Servicing Fee Right effected by such Person, to indemnify the Certificateholders, the Trust, the Depositor, the Underwriters,
the Certificate Administrator, the Trustee, the Master Servicer, the Certificate Registrar, the Operating Advisor, the Asset Representations
Reviewer and the Special Servicer against any liability that may result if such transfer is not exempt from registration and/or
qualification under the Act or other applicable federal and state securities laws or is not made in accordance with such federal
and state laws or in accordance with the foregoing provisions of this paragraph. By its acceptance of an Excess Servicing Fee Right,
the holder thereof shall be deemed to have agreed not to use or disclose such information in any manner that could result in a
violation of any provision of the Act or other applicable securities laws or that would require registration of such Excess Servicing
Fee Right or any Certificate pursuant to the Act. From time to time following any transfer, sale, pledge or assignment of an Excess
Servicing Fee Right, the Master Servicer with respect to the related Mortgage Loan or successor REO Loan with respect thereto to
which the Excess Servicing Fee Right relates, shall pay, out of each amount paid to the Master Servicer as Servicing Fee with respect
to such Mortgage Loan or REO Loan, as the case may be, the related Excess Servicing Fees to the holder of such Excess Servicing
Fee Right within one Business Day following the payment of such Servicing Fee to the Master Servicer, in each case in accordance
with payment instructions provided by such holder in writing to the Master Servicer. The holder of an Excess Servicing Fee Right
shall not have any rights under this Agreement except as set forth in the preceding sentences of this paragraph. None of the Certificate
Administrator, the Certificate Registrar, the Operating Advisor, the Asset Representations Reviewer, the Depositor, the Special
Servicer or the Trustee shall have any obligation whatsoever regarding payment of the Excess Servicing Fee or the assignment or
transfer of the Excess Servicing Fee Right.


 


As compensation for its activities
hereunder on each Distribution Date, the Certificate Administrator shall be entitled with respect to each Mortgage Loan to its
portion of the Certificate Administrator/Trustee Fee, which shall be payable from amounts on deposit in the Lower-Tier Distribution
Account. The Certificate Administrator shall pay the Trustee the Trustee’s portion of the Certificate Administrator/Trustee
Fee. The Certificate Administrator’s rights to the Certificate Administrator/Trustee Fee may not be transferred in whole
or in part except in connection with the transfer of all of its responsibilities and obligations under this Agreement.


 



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Except as otherwise provided herein,
the Master Servicer shall pay all of its overhead expenses incurred by it in connection with its servicing activities hereunder,
including all fees of any sub-servicers retained by it (but excluding Mortgage Loan Seller Sub-Servicers). Except as otherwise
provided herein, the Trustee and the Certificate Administrator shall each pay all expenses incurred by it in connection with its
activities hereunder.


 


(b)          As compensation for its activities
hereunder, the Special Servicer shall be entitled with respect to each Specially Serviced Loan and Serviced REO Loan to the Special
Servicing Compensation, which shall be payable from amounts on deposit in the Collection Account or the Serviced Whole Loan Collection
Account, as applicable, as set forth in Section 3.06 of this Agreement. The Special Servicer’s rights to the
Special Servicing Fee may not be transferred in whole or in part except in connection with the transfer of all of the Special Servicer’s
responsibilities and obligations under this Agreement. In addition, the Special Servicer shall be entitled to receive, as Special
Servicing Compensation, to the extent permitted by applicable law and the related Loan Documents, (i) any Net Default Interest
and any other Penalty Charges collected by the Master Servicer or the Special Servicer during a Collection Period accrued on any
Specially Serviced Loan remaining after application thereof during such Collection Period (and in the case of the Serviced Whole
Loans, as set forth in and subject to the terms of the related Intercreditor Agreement and Section 3.12(d) herein)
to pay the Advance Interest Amount relating to such Specially Serviced Loan and any unreimbursed Additional Trust Fund Expenses
(including Special Servicing Fees, Workout Fees and Liquidation Fees) incurred during or prior to such Collection Period on such
related Specially Serviced Loan (but not NSF check fees and the like, which shall be paid to the Master Servicer) as further described
below in this subsection (b), (ii) 100% of any Modification Fees and consent fees (or similar fees) related to any Specially
Serviced Loan or Serviced REO Loan, (iii) 50% of any Modification Fees and consent fees (or similar fees) related to any consents,
modifications, waivers, extensions or amendments of any Mortgage Loans (and the related Serviced Companion Loans) that are non-Specially
Serviced Loans that involve one or more Major Decisions or decisions that are not Master Servicer Decisions, provided that
the consent of the Special Servicer is required to take such actions, (iv) 100% of Assumption Fees on any Specially Serviced Loan
or Serviced REO Loan, (v) 50% of any Assumption Fees relating to the transactions referred to in Section 3.09 of this
Agreement with respect to the Performing Loans and the related Companion Loans relating to any Performing Loan; provided,
that with respect to such transactions, the consent of the Special Servicer is required to take such actions, (vi) any interest
or other income earned on deposits in the REO Accounts and (vii) 100% of any assumption application fees, beneficiary statement
charges or demand fees relating to any Specially Serviced Loan or Serviced REO Loan.


 


Notwithstanding anything to the contrary,
the Master Servicer and the Special Servicer will each be entitled to charge the related Borrower reasonable review fees in connection
with any borrower request.


 


With respect to any of the preceding
fees as to which both the Master Servicer and the Special Servicer are entitled to receive a portion thereof, the Master Servicer
and the Special Servicer shall each have the right, but not any obligation, to reduce or elect not to charge its respective portion
of such fee; provided that (A) neither the Master Servicer nor the Special Servicer shall have the right to reduce or elect not
to charge the portion of any such fee due to the


 



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 other and (B) to the extent either the Master Servicer or the Special Servicer
exercises its right to reduce or elect not to charge its respective portion in any such fee, the party that reduced or elected
not to charge its respective portion of such fee shall not have any right to share in any part of the other party’s portion
of such fee. If the Master Servicer decides not to charge any fee, the Special Servicer shall nevertheless be entitled to charge
its portion of the related fee to which the Special Servicer would have been entitled if the Master Servicer had charged a fee
and the Master Servicer shall not be entitled to any of such fee charged by the Special Servicer.


 


Except as otherwise provided herein,
the Special Servicer shall pay all expenses incurred by it in connection with its servicing activities hereunder, including all
fees of any sub-servicers retained by it.


 


In addition, the Special Servicer shall
be entitled to the portion of Net Default Interest and any other Penalty Charges collected by the Other Special Servicer servicing
the related Non-Serviced Mortgage Loan and that are allocated to such Non-Serviced Mortgage Loan remaining after application thereof
during such Collection Period to pay the Advance Interest Amount relating to such Non-Serviced Mortgage Loan and any unreimbursed
Additional Trust Fund Expenses (including Special Servicing Fees, Workout Fees and Liquidation Fees) incurred during or prior to
such Collection Period on such related Non-Serviced Mortgage Loan (but not NSF check fees and similar fees, which shall be paid
to the Master Servicer) as provided in this Agreement. Except as specified in the preceding sentence, the Special Servicer will
not be entitled to the compensation set forth in this Section 3.12(b) with respect to a Non-Serviced Mortgage Loan.


 


(c)          In addition, a Workout Fee will
be payable to the Special Servicer with respect to each Mortgage Loan (other than any Non-Serviced Mortgage Loan) or Serviced Whole
Loan that ceases to be a Specially Serviced Loan pursuant to the definition thereof. As to each such Mortgage Loan or Serviced
Whole Loan, the Workout Fee will be payable out of each collection of interest and principal (including scheduled payments, prepayments,
Balloon Payments and payments at maturity) received on such Mortgage Loan or Serviced Whole Loan for so long as it remains a Corrected
Mortgage Loan. The Workout Fee with respect to any such Mortgage Loan or Serviced Whole Loan will cease to be payable if such loan
again becomes a Specially Serviced Loan or if the related Mortgaged Property becomes a Serviced REO Property; provided that
a new Workout Fee will become payable if and when such Mortgage Loan or Serviced Whole Loans again ceases to be a Specially Serviced
Loan. If the Special Servicer is terminated (other than for cause) or resigns with respect to any or all of its servicing duties,
it shall retain the right to receive any and all Workout Fees payable with respect to the Mortgage Loans that cease to be a Specially
Serviced Loan during the period that it had responsibility for servicing such Specially Serviced Loan (or for any Specially Serviced
Loan that had not yet become a Corrected Mortgage Loan because as of the time that the Special Servicer is terminated the borrower
has not made three consecutive monthly debt service payments and subsequently the Specially Serviced Loan becomes a Corrected Mortgage
Loan) at the time of such termination or resignation (and the successor Special Servicer shall not be entitled to any portion of
such Workout Fees), in each case until the Workout Fee for any such loan ceases to be payable in accordance with the preceding
sentence.


 


A Liquidation Fee will be payable to
the Special Servicer, except as described below, with respect to (i) each Mortgage Loan repurchased by a Mortgage Loan Seller
after the


 



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Initial Resolution Period (and giving effect to any Resolution Extension Period) in accordance with Section 2.03(e)
of this Agreement, (ii) each Specially Serviced Loan as to which the Special Servicer obtains a full, partial or discounted
payoff from the related Borrower, (iii) any Specially Serviced Loan or Serviced REO Property as to which the Special Servicer
recovered any Liquidation Proceeds and (iv) each Defaulted Loan that is a Non-Serviced Mortgage Loan sold by the Special Servicer
in accordance with the proviso in Section 3.16(b) of this Agreement as to which the Special Servicer recovered any
Liquidation Proceeds; provided, however, for clarification, in the case of clause (iv), should the Non-Serviced Mortgage Loan
be sold by the Other Special Servicer, then the Liquidation Fee shall be paid to such Other Special Servicer. As to each such Mortgage
Loan repurchased by a Mortgage Loan Seller after the Initial Resolution Period (and giving effect to any Resolution Extension Period)
in accordance with Section 2.03(e) of this Agreement or Specially Serviced Loan and Serviced REO Property, the Liquidation
Fee will be payable from the related payment or proceeds. Notwithstanding anything to the contrary described above, no Liquidation
Fee will be payable based on, or out of, Liquidation Proceeds to the extent set forth in the definition of “Liquidation Fee”
herein. With respect to any future mezzanine debt, to the extent not prohibited by the Loan Documents, the Master Servicer or Special
Servicer, as applicable, shall require that the related mezzanine intercreditor agreement provide that if a Mortgage Loan is purchased
by the related mezzanine lender on a date that is more than 90 days following the date that the related option first becomes
exercisable, such mezzanine lender shall be required to pay a Liquidation Fee equal to the amount that the Special Servicer would
otherwise be entitled to under this Agreement with respect to a liquidation of such Mortgage Loan (provided, that such Liquidation
Fee shall in all circumstances be payable by the related mezzanine lender and shall not, under any circumstances, be payable out
of the Trust unless the Master Servicer fails to require the related mezzanine intercreditor agreement to require the mezzanine
lender to pay such amounts in breach of its obligation to do so under this paragraph). If Liquidation Proceeds are received with
respect to any Specially Serviced Loan as to which the Special Servicer is properly entitled to a Workout Fee, such Workout Fee
will be payable based on and out of the portion of such Liquidation Proceeds that constitute principal and/or interest. Notwithstanding
anything herein to the contrary, the Special Servicer shall only be entitled to receive a Liquidation Fee or a Workout Fee, but
not both, with respect to Liquidation Proceeds received on any Mortgage Loan or any Specially Serviced Loan. If (i) the Special
Servicer resigns or has been terminated, and (ii) either prior or subsequent to such resignation or termination, either (A) a
Specially Serviced Loan was liquidated or modified pursuant to an action plan submitted by the initial Special Servicer and approved
(or deemed approved) by the Directing Holder or the Special Servicer has determined to grant a forbearance, or (B) a Specially
Serviced Loan being monitored by the Special Servicer subsequently became a Corrected Mortgage Loan, then in either such event
the Special Servicer shall be paid the related Workout Fee or Liquidation Fee, as applicable.


 


The total amount of Workout Fees and
Liquidation Fees that are payable by the Trust with respect to each Mortgage Loan, Serviced Whole Loan or Serviced REO Loan through
the period such Mortgage Loan is an asset of the Trust shall be subject to an aggregate cap of $1,000,000. For the purposes of
determining whether any such cap has been reached with respect to a Special Servicer and a Mortgage Loan, Serviced Whole Loan or
Serviced REO Loan, only the Workout Fees and Liquidation Fees paid to such Special Servicer with respect to such Mortgage Loan,
Serviced Whole Loan or Serviced REO Loan shall be taken into account, and any Workout Fees or Liquidation Fees for any other Mortgage
Loans, Serviced Whole Loans






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or Serviced REO Loans shall not be taken into account (and any Workout Fees or Liquidation Fees paid
to a predecessor or successor special servicer or Other Special Servicer shall also not be taken into account).


 


The Special Servicer shall be required
to pay out of its own funds all expenses incurred by it in connection with its servicing activities hereunder (including, without
limitation, any amounts, other than management fees in respect of REO Properties, due and owing to any of its sub-servicers, any
amounts due and owing to any of its Affiliates, and the premiums for any blanket insurance policy obtained by it insuring against
hazard losses pursuant to Section 3.08 of this Agreement, except to the extent such premiums are reimbursable pursuant
to Section 3.08 of this Agreement), if and to the extent such expenses are not expressly payable directly out of the
Collection Account or if a Serviced Whole Loan is involved, the applicable Serviced Whole Loan Collection Account or the applicable
REO Account or as a Servicing Advance, and the Special Servicer shall not be entitled to reimbursement therefor except as expressly
provided in this Agreement.


 


The Special Servicer and its Affiliates
shall be prohibited from receiving or retaining any compensation or any other remuneration (including, without limitation, in the
form of commissions, brokerage fees, rebates, or as a result of any other fee-sharing arrangement) from any Person (including,
without limitation, the Trust, any Borrower, any Manager, any guarantor or indemnitor in respect of a Mortgage Loan or Serviced
Whole Loan and any purchaser of any Mortgage Loan, Serviced Companion Loan or REO Property) in connection with the disposition,
workout or foreclosure of any Mortgage Loan or Serviced Whole Loan, the management or disposition of any REO Property, or the performance
of any other special servicing duties under this Agreement, other than as expressly provided in this Section 3.12;
provided that such prohibition shall not apply to Permitted Special Servicer/Affiliate Fees.


 


(d)          In determining the compensation
of the Master Servicer or Special Servicer, as applicable, with respect to Penalty Charges, on any Distribution Date, the aggregate
Penalty Charges collected on any Mortgage Loan or, unless prohibited by the related Intercreditor Agreement to be so applied, any
Serviced Companion Loan, during the related Collection Period shall be applied (as between Default Interest and late payment charges,
in the priority set forth in the definition of “Advance Interest Amount”) to reimburse (i) the Master Servicer
or the Trustee for interest on Advances at the Reimbursement Rate with respect to such Mortgage Loan that accrued in the period
that such Penalty Charges were collected and advance interest to any related Serviced Companion Loan Service Provider for any debt
service advance made by such party with respect to any related Serviced Companion Loan that accrued in the period that such Penalty
Charges were collected, (ii) the Trust Fund for all interest on Advances with respect to such Mortgage Loan or Serviced Whole
Loan previously paid to the Master Servicer, the Trustee or to any Serviced Companion Loan Service Provider pursuant to Section 3.06(a)(vi)
or Section 3.06(b)(vi) of this Agreement and (iii) the Trust Fund for any Additional Trust Fund Expenses (including
Special Servicing Fees, Workout Fees and Liquidation Fees) with respect to such Mortgage Loan or Serviced Whole Loan paid in the
Collection Period that such Penalty Charges were collected and not previously paid out of Penalty Charges, and any Penalty Charges
remaining thereafter shall be distributed pro rata to the Master Servicer and the Special Servicer based upon the amount
of Penalty Charges the Master Servicer or the Special Servicer would otherwise have been entitled to receive during


 



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such period
with respect to such Mortgage Loan without any such application. Except as set forth in this Agreement, the Special Servicer shall
not be entitled to any Special Servicing Fees, Workout Fees or Liquidation Fees with respect to any Non-Serviced Mortgage Loan
or any related REO Property. For the avoidance of doubt, the portion of Penalty Charges allocated to a Mortgage Loan that is part
of a Non-Serviced Whole Loan (in accordance with the applicable Intercreditor Agreement and, if applicable, the Other Pooling and
Servicing Agreement) shall be allocated in accordance with clauses (i), (ii) and (iii) above (except that, Advances in clauses (i)
and (ii) shall mean P&I Advances).


 


If a Servicing Shift Whole Loan becomes
a Specially Serviced Loan prior to the applicable Servicing Shift Securitization Date, the Special Servicer shall service and administer
such Servicing Shift Whole Loan and any related REO Property in the same manner as any other Specially Serviced Loan or Serviced
REO Property and shall be entitled to all rights and compensation earned with respect to such Serviced Whole Loan as Special Servicer
of such Serviced Whole Loan. With respect to a Servicing Shift Mortgage Loan, prior to the applicable Servicing Shift Securitization
Date, no other special servicer will be entitled to any such compensation or have such rights and obligations. If a Servicing Shift
Whole Loan is still a Specially Serviced Loan on the applicable Servicing Shift Securitization Date, the Other Special Servicer
and the Special Servicer shall be entitled to compensation with respect to such Servicing Shift Whole Loan as if the Special Servicer
were being terminated as the Special Servicer with respect to such Servicing Shift Whole Loan and the Other Special Servicer were
replacing the Special Servicer as the successor Special Servicer with respect to such Servicing Shift Whole Loan.


 


If a Servicing Shift Whole Loan is
being specially serviced on the applicable Servicing Shift Securitization Date, the Special Servicer shall be entitled to compensation
for the period during which it acted as Special Servicer with respect to such Whole Loan, including its share of any liquidation
or workout fees and any additional servicing compensation as well as all surviving indemnity and other rights in respect of such
special servicing role under this Agreement.


 


(e)          The Master Servicer, the Special
Servicer, the Certificate Administrator and the Trustee shall be entitled to reimbursement from the Trust Fund (and, prior to recovery
from the Trust Fund, in the case of any Serviced Whole Loans, subject to the related Intercreditor Agreement, first, from
the related Subordinate Companion Loan up to the full principal balance thereof, if any, and second, to the extent any such
costs and expenses remain unreimbursed, from the related Mortgage Loan and the Collection Account, or in the case of a Serviced
Whole Loan with a Serviced Pari Passu Companion Loan, first, out of the related Serviced Whole Loan Collection Account from
collections on the related Serviced Pari Passu Companion Loan and the related Mortgage Loan on a pro rata basis by principal
balance, and second, to the extent any such costs and expenses remain unreimbursed, out of the Collection Account) for the
costs and expenses incurred by them in the performance of their duties under this Agreement which are “unanticipated expenses
incurred by the REMIC” within the meaning of Treasury Regulations Section 1.860G-1(b)(3)(iii). Such expenses shall include,
by way of example and not by way of limitation, environmental assessments, Updated Appraisals and appraisals in connection with
foreclosure, the fees and expenses of any administrative or judicial proceeding and expenses expressly identified as reimbursable
in Section 3.06(a)(xv) of this Agreement. All such costs and


 



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expenses shall be treated as costs and expenses of the
Lower-Tier REMIC and the related Serviced Whole Loan, if applicable.


 


(f)          No provision of this Agreement
or of the Certificates shall require the Master Servicer, the Special Servicer, the Operating Advisor, the Asset Representations
Reviewer, the Certificate Administrator or the Trustee to expend or risk their own funds or otherwise incur any financial liability
in the performance of any of their duties hereunder or thereunder, or in the exercise of any of their rights or powers, if, in
the good faith business judgment of the Master Servicer, the Special Servicer, the Operating Advisor, the Asset Representations
Reviewer, the Certificate Administrator or the Trustee, as the case may be, repayment of such funds would not be ultimately recoverable
from late payments, Net Insurance Proceeds, Net Liquidation Proceeds and other collections on or in respect of the Mortgage Loans,
or from adequate indemnity from other assets comprising the Trust Fund against such risk or liability.


 


If the Master Servicer, the Special
Servicer, the Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer or the Trustee receives a request
or inquiry from a Borrower, any Certificateholder or any other Person the response to which would, in the Master Servicer’s,
the Special Servicer’s, the Certificate Administrator’s, the Operating Advisor’s, the Asset Representations Reviewer’s
or the Trustee’s good faith business judgment require the assistance of Independent legal counsel or other consultant to
the Master Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer
or the Trustee, the cost of which would not be an expense of the Trust Fund or any Serviced Companion Loan Noteholder hereunder,
then the Master Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor, the Asset Representations
Reviewer or the Trustee, as the case may be, shall not be required to take any action in response to such request or inquiry unless
such Borrower, such Certificateholder, or such other Person, as applicable, makes arrangements for the payment of the Master Servicer’s,
the Special Servicer’s, the Certificate Administrator’s, the Operating Advisor’s, the Asset Representations Reviewer’s
or the Trustee’s reasonable expenses associated with such counsel (including, without limitation, posting an advance payment
for such expenses) satisfactory to the Master Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor,
the Asset Representations Reviewer or the Trustee, as the case may be, in its sole discretion. Unless such arrangements have been
made, the Master Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor, the Asset Representations
Reviewer or the Trustee, as the case may be, shall have no liability to any Person for the failure to respond to such request or
inquiry.


 


Section 3.13          Reports
to the Certificate Administrator; Collection Account Statements. (a) The Master Servicer shall deliver to the
Certificate Administrator no later than 3:00 p.m. (New York City time) one Business Day prior to the Master Servicer
Remittance Date prior to each Distribution Date (beginning May 2016), the CREFC® Loan Periodic Update File
with respect to all of the Mortgage Loans that it is servicing for the related Distribution Date (which shall include,
without limitation, the amount of Available Funds allocable to the Mortgage Loans) including information therein that states
the anticipated P&I Advances for the related Distribution Date. The Master Servicer’s responsibilities under this Section 3.13(a)
with respect to Serviced REO Loans shall be subject to the satisfaction of the Special Servicer’s obligations under Section 3.23 of
this Agreement. The Master Servicer shall (no later than the


 



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time(s) that it or any portion thereof is made available to the
Certificate Administrator) make available to each Serviced Companion Loan Noteholder with respect to the related Whole
Loan or, if such Serviced Companion Loan is securitized, the respective Other Servicer and Other Trustee, the
CREFC® Investor Reporting Package (CREFC® IRP) (excluding any templates) pursuant to the terms
of this Agreement on a monthly basis.


 


(b)          For so long as the Master Servicer
makes deposits into or credits to and withdrawals or debits from the Collection Account or any Serviced Whole Loan Collection Account,
not later than 15 days after each Distribution Date, the Master Servicer shall forward to the Certificate Administrator a statement
prepared by the Master Servicer setting forth the status of each of the Collection Account and each Serviced Whole Loan Collection
Account as of the close of business on the last Business Day of the prior Collection Period and showing the aggregate amount of
deposits into and withdrawals from the Collection Account and each Serviced Whole Loan Collection Account of each category of deposit
(or credit) specified in Section 3.05 of this Agreement and each category of withdrawal (or debit) specified in Section 3.06
of this Agreement for the related Collection Period, in each case for the Mortgage Loans (including the Non-Serviced Mortgage Loans).
The Trustee and the Certificate Administrator and its agents and attorneys may at any time during normal business hours, upon reasonable
notice, inspect and copy the books, records and accounts of the Master Servicer solely relating to the Mortgage Loans and the performance
of its duties hereunder.


 


(c)          Beginning in May 2016, no later
than 4:00 p.m. (New York City time) on each Master Servicer Remittance Date, the Master Servicer shall deliver or cause to
be delivered to the Certificate Administrator (who shall promptly post such reports to the Certificate Administrator’s Website
pursuant to Section 4.02(b)(iii)(B) of this Agreement), the Serviced Companion Loan Noteholders and the Operating Advisor
the following reports (in electronic form) with respect to the Mortgage Loans that it is servicing (and, if applicable, the related
REO Properties), providing the required information as of the immediately preceding Determination Date: (i) to the extent
the Master Servicer has received the most recent CREFC® Special Servicer Loan File from the Special Servicer at
the time required, the most recent CREFC® Delinquent Loan Status Report, CREFC® Historical Loan Modification
and Corrected Mortgage Loan Report, the CREFC® Loan Setup File (with respect to the first Distribution Date) and
CREFC® REO Status Report received from such Special Servicer, (ii) the most recent CREFC® Property
File, CREFC® Financial File, CREFC® Comparative Financial Status Report and the CREFC®
Loan Level Reserve/LOC Report (in each case incorporating the data required to be included in the CREFC® Special
Servicer Loan File), (iii) the CREFC® Servicer Watch List with information that is current as of such Determination
Date and (iv) the CREFC® Advance Recovery Report.


 


The information that pertains to Specially
Serviced Loans and REO Properties reflected in such reports shall be based solely upon the reports delivered by the Special Servicer
to the Master Servicer (other than information as to which the Master Servicer has the primary responsibility to generate) no later
than the related Determination Date in the form required by Section 3.13(g) of this Agreement or shall be provided
by means of such reports so delivered by the Special Servicer to the Master Servicer in the form so required. In the absence of
manifest error, the Master Servicer shall be entitled to conclusively rely upon, without investigation or inquiry, the information
and reports delivered to it by the Special Servicer, and the Certificate


 



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Administrator shall be entitled to conclusively rely upon
the Master Servicer’s reports and the Special Servicer’s reports and any information provided by the Certificate Administrator
or the Trustee without any duty or obligation to recompute, verify or recalculate any of the amounts and other information stated
therein.


 


(d)          The Master Servicer shall deliver
or cause to be delivered to the Trustee, the Certificate Administrator, the Serviced Companion Loan Noteholders, the Underwriters,
the Initial Purchasers and the Operating Advisor the following materials, in each case to the extent that such materials or the
information on which they are based have been received by the Master Servicer with respect to the Mortgage Loans that the Master
Servicer is servicing:


 


(i)           Within
30 days after receipt of any quarterly operating statement, if any, commencing within 30 days of receipt of such quarterly
operating statement for the quarter ending June 30, 2016, with respect to each Mortgage Loan (other than any Non-Serviced
Mortgage Loan), Specially Serviced Loan and Serviced REO Loan (to the extent prepared by and received from the Special
Servicer (in written format or in electronic media) in the case of any Specially Serviced Loan or Serviced REO Loan), a
CREFC® Operating Statement Analysis Report for the related Mortgaged Property or Serviced REO Property as of
the end of the preceding calendar quarter, together with copies of the related operating statements and rent rolls (but only
to the extent the related Borrower is required by the Mortgage to deliver, or otherwise agrees to provide such information
and, with respect to operating statements and rent rolls for Specially Serviced Loans and REO Properties, only to the extent
received by the Special Servicer); provided that, to the extent the annual CREFC® Operating Statement Analysis
Report is delivered as described under clause (b) below, then such delivery shall satisfy the requirement under this clause
(a) to deliver a quarterly CREFC® Operating Statement Analysis Report for the quarter ending June 30 of each year,
commencing in 2017. The Master Servicer (or the Special Servicer in the case of Specially Serviced Loans and Serviced REO
Properties) shall use commercially reasonable efforts to obtain said quarterly and other periodic operating statements and
related rent rolls, which efforts shall include a letter sent to the related Borrower (except with respect to any
Non-Serviced Mortgage Loan) (followed up with telephone calls), requesting such quarterly and other periodic
operating statements and related rent rolls until they are received to the extent such action is consistent with applicable
law and the terms of the related Loan Documents; provided, however, that any analysis or update with respect to
the first calendar quarter of each year shall not be required to the extent such analysis or update is not required to be
provided under the then current applicable CREFC® guidelines.


 


(ii)          At least annually,
on or before June 30 of each year, beginning with June 30, 2017, with respect to each Mortgage Loan (other than a Non-Serviced
Mortgage Loan), Specially Serviced Loan and Serviced REO Loan (to the extent prepared by and received from the Special Servicer
(in written format or in electronic media) in the case of any Specially Serviced Loan or Serviced REO Loan), a CREFC®
Operating Statement Analysis Report for the related Mortgaged Property or Serviced REO Property as of the end of the preceding
calendar year (initially, year-end 2016), together with copies of the related operating statements and related rent rolls (but
only to the extent the related Borrower is required by the Mortgage to deliver, or otherwise agrees to provide such


 






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information
and, with respect to operating statements and related rent rolls for Specially Serviced Loans and REO Properties, only to the extent
received by the Special Servicer) for the current trailing 12 months, if available, or year-to-date, provided, however,
that with respect to any obligation of the Master Servicer or Special Servicer, as applicable, to provide a year end analysis or
update, such analysis or update shall not be required to the extent such analysis or update is not required to be provided under
the then current applicable CREFC® guidelines. The Master Servicer (or the Special Servicer in the case of Specially
Serviced Loans and Serviced REO Properties) shall use commercially reasonable efforts to obtain said annual and other periodic
operating statements and related rent rolls, which efforts shall include a letter sent to the related Borrower (except with respect
to any Non-Serviced Mortgage Loan) (followed up with telephone calls), requesting such annual and other periodic operating statements
and related rent rolls until they are received to the extent such action is consistent with applicable law and the terms of the
related Loan Documents. Upon receipt of such annual and other periodic operating statements (including year-to-date statements)
and related rent rolls, the Master Servicer shall promptly update the CREFC® Operating Statement Analysis Report
(commencing with the quarter ending June 30, 2016).


 


(iii)          Within 45
days after receipt by the Master Servicer (or within 60 days of receipt by the Special Servicer in the case of a Specially Serviced
Loan or Serviced REO Property) of any annual year-end operating statements and related rent rolls with respect to any Mortgaged
Property (except with respect to any Non-Serviced Mortgage Loan) or Serviced REO Property (to the extent prepared by and received
from the Special Servicer in the case of any Specially Serviced Loan or Serviced REO Property), commencing within 45 or 60 days,
as applicable, of receipt of such statements for year-end 2016, a CREFC® NOI Adjustment Worksheet for such Mortgaged
Property (with the annual year-end operating statements attached thereto as an exhibit). The Master Servicer will use the “Normalized”
column from the CREFC® NOI Adjustment Worksheet to update the full year-end data on any CREFC® Operating
Statement Analysis Report and will use any operating statements received with respect to any Mortgaged Property (other than any
Mortgaged Property which is a Serviced REO Property or constitutes security for a Specially Serviced Loan or a Non-Serviced Mortgage
Loan) to update the CREFC® Operating Statement Analysis Report for such Mortgaged Property; provided, however,
that any analysis or update with respect to the year-end or first quarter of each year shall not be required to the extent such
analysis or update is not required to be provided under the then current applicable CREFC® guidelines.


 


Except with respect to a request received
through the Rating Agency Q&A Forum and Document Request Tool, upon request for receipt of any such items from any Rating Agency,
the Master Servicer shall forward such items to the 17g-5 Information Provider (who shall promptly post such items to the 17g-5
Information Provider’s Website pursuant to Section 3.14(d) of this Agreement).


 


The Master Servicer shall maintain
one CREFC® Operating Statement Analysis Report for each Mortgaged Property (and shall not be required to maintain
any such report for a Mortgaged Property securing a Non-Serviced Mortgage Loan) and Serviced REO Property (to the extent prepared
by and received from the Special Servicer in the case of any Serviced REO


 



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Property or any Mortgaged Property constituting security
for a Specially Serviced Loan) relating to a Mortgage Loan that it is servicing. The CREFC® Operating Statement
Analysis Report for each Mortgaged Property (other than any such Mortgaged Property that secures a Non-Serviced Mortgage Loan or
that is a Serviced REO Property or constitutes security for a Specially Serviced Loan) is to be updated with trailing 12-month
information, as available, or year-to-date information until 12-month trailing information (commencing with the quarter ending
June 30, 2016) is available by the Master Servicer and such updated report shall be delivered to the Trustee, the Certificate Administrator,
the Operating Advisor, the Directing Holder and any related Serviced Companion Loan Noteholder in the calendar month following
receipt by the Master Servicer of such updated trailing or year-to-date operating statements and related rent rolls for such Mortgaged
Property.


 


The Master Servicer (with respect to
Performing Loans and Specially Serviced Loans) shall deliver to the Certificate Administrator, the Operating Advisor and (solely
with respect to the related Mortgaged Property) each holder of a Serviced Companion Loan by electronic means the CREFC®
Operating Statement Analysis Report for each Mortgaged Property upon request.


 


The Special Servicer shall pursuant
to Section 3.13(h) of this Agreement, deliver to the Master Servicer the information required of it pursuant to this
Section 3.13(d) with respect to Specially Serviced Loans and Serviced REO Loans.


 


(e)          In connection with their servicing
of the Mortgage Loans (other than any Non-Serviced Mortgage Loan) and Serviced REO Properties, the Master Servicer and the Special
Servicer, as applicable, shall provide to each other and to the Trustee and the Certificate Administrator, written notice of any
event that comes to their knowledge with respect to a Mortgage Loan or Serviced REO Property that the Master Servicer or the Special
Servicer, respectively, determines, in accordance with the Servicing Standard, would have a material adverse effect on such Mortgage
Loan or Serviced REO Property, which notice shall include an explanation as to the reason for such material adverse effect.


 


(f)          The Master Servicer or the Special
Servicer, as applicable, shall make available to the Controlling Class Representative copies of all rent rolls, operating statements
and financial statements actually provided by each Borrower, including any monthly or quarterly statements or rent rolls, within
15 Business Days of receipt.


 


(g)          On or before 2:00 p.m. Central
Time on each Determination Date, the Special Servicer shall deliver, or cause to be delivered, to the Master Servicer and, upon
the request of any of the Trustee, the Certificate Administrator, the Operating Advisor, the Depositor, the Controlling Class Representative
or any Rating Agency, to such requesting party, the CREFC® Special Servicer Loan File with respect to the Specially
Serviced Loans (and, if applicable, the related Serviced REO Properties), providing the required information as of the Determination
Date (or, upon the reasonable request of any Master Servicer, data files in a form acceptable to the Master Servicer), which CREFC®
Special Servicer Loan File shall include data, to enable the Master Servicer to produce the CREFC® Supplemental
Servicer Reports. Such reports or data shall be presented in writing and in an electronic format acceptable to the Master Servicer.


 



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(h)          The Special Servicer shall deliver
or cause to be delivered to the Master Servicer and, upon the request of any of the Trustee, the Certificate Administrator, the
Operating Advisor, the Depositor, the Controlling Class or any Rating Agency, to such requesting party, without charge, the following
materials for Specially Serviced Loans or Serviced REO Properties, as applicable, in each case to the extent that such materials
or the information on which they are based have been received by the Special Servicer:


 


(i)           At least annually,
on or before June 1 of each year, commencing in 2017, with respect to each Specially Serviced Loan and Serviced REO Loan,
a CREFC® Operating Statement Analysis Report for the related Mortgaged Property or Serviced REO Property as of the
end of the preceding calendar year (initially year-end December 31, 2016) together with copies of the operating statements and
related rent rolls for the related Mortgaged Property or Serviced REO Property as of the end of the preceding calendar year (but
only to the extent the related Borrower is required by the Mortgage to deliver, or otherwise agrees to provide, such information
and, with respect to operating statements and related rent rolls for Specially Serviced Loans and Serviced REO Properties, only
to the extent requested by the Special Servicer) and for the current trailing 12 months, if available, or year-to-date. The Special
Servicer shall use its reasonable efforts to obtain said annual and other periodic operating statements and related rent rolls
with respect to each Mortgaged Property constituting security for a Specially Serviced Loan and each Serviced REO Property.


 


(ii)          Within 45 days
of receipt by the Special Servicer of any annual operating statements with respect to any Mortgaged Property relating to a Specially
Serviced Loan or Serviced REO Property, a CREFC® NOI Adjustment Worksheet for such Mortgaged Property or Serviced
REO Property (with the annual operating statements attached thereto as an exhibit); provided, that, with the consent of
the Master Servicer, the Special Servicer may instead provide data files in a form acceptable to the Master Servicer. The Special
Servicer will use the “Normalized” column from the CREFC® NOI Adjustment Worksheet to update the full
year-end data on any CREFC® Operating Statement Analysis Report and will use any operating statements received with
respect to any Mortgaged Property relating to a Specially Serviced Loan or Serviced REO Property to update the CREFC®
Operating Statement Analysis Report for such Mortgaged Property.


 


Except with respect to a request received
through the Rating Agency Q&A Forum and Document Request Tool, upon request for receipt of any such items from any Rating Agency,
the Special Servicer shall forward such items to the 17g-5 Information Provider (who shall promptly post such items to the 17g-5
Information Provider’s Website pursuant to Section 3.14(d) of this Agreement).


 


The Special Servicer shall maintain
one CREFC® Operating Statement Analysis Report for each Mortgaged Property securing a Specially Serviced Loan and
each Serviced REO Property. The CREFC® Operating Statement Analysis Report for each Mortgaged Property securing
a Specially Serviced Loan and each Serviced REO Property is to be updated by the Special Servicer and such updated report delivered
to the Master Servicer within 45 days after receipt by the Special Servicer of updated operating statements for each such Mortgaged
Property; provided, that, the Special Servicer may instead provide data files in an electronic form



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acceptable to the Special
Servicer. The Special Servicer shall provide each such report to the Master Servicer in the then applicable CREFC®
format.


 


(i)          If the Master Servicer or the
Special Servicer, as applicable, is required to deliver any statement, report or information under any provision of this Agreement
(including Section 3.14), the Master Servicer or the Special Servicer, as the case may be, may satisfy such obligation
by (x) delivering such statement, report or information in a commonly used electronic format or (y) making such statement,
report or information available on the Master Servicer’s website, unless this Agreement expressly specifies a particular
method of delivery or such statement, report or information must be filed with the Commission as contemplated in Article X;
provided that all reports required to be delivered to the Certificate Administrator shall be delivered in accordance with
clause (x).


 


(j)          The Master Servicer may, but
is not required to, make any of the reports or files it delivers pursuant to this Section 3.13 available each month
on the Master Servicer’s website only with the use of a password, in which case the Master Servicer shall provide such password
to (i) the other parties to this Agreement, who by their acceptance of such password shall be deemed to have agreed not to
disclose such password to any other Person and (ii) each Certificateholder and prospective Certificateholder who requests
such password, and has delivered an Investor Certification to the Trustee, the Certificate Administrator and the Master Servicer.
In connection with providing access to the Master Servicer’s website, the Master Servicer may require registration and the
acceptance of a disclaimer and otherwise (subject to the preceding sentence) adopt reasonable rules and procedures, which may include,
to the extent the Master Servicer deems necessary or appropriate, conditioning access on execution of an agreement governing the
availability, use and disclosure of such information, and which may provide indemnification to the Master Servicer for any liability
or damage that may arise therefrom.


 


(k)          With respect to each Collection
Period, the Special Servicer shall deliver or cause to be delivered to the Master Servicer within two Business Days following the
Determination Date and the Master Servicer shall, to the extent it has received, deliver to the Certificate Administrator, without
charge and on the same day as the Master Servicer is required to deliver the CREFC® Investor Reporting Package,
an electronic report which may include html, word or excel compatible format, clean and searchable pdf. format or such other format
as mutually agreeable between the Certificate Administrator and the Special Servicer (or Master Servicer on its behalf) that discloses
and contains an itemized listing of any Disclosable Special Servicer Fees received by the Special Servicer or any of its Affiliates
during the related Collection Period; provided that no report regarding Disclosable Special Servicer Fees shall be required
to be delivered if there are no Disclosable Special Servicer Fees for the related Collection Period.


 


Section 3.14     Access
to Certain Documentation. (a) The Master Servicer and Special Servicer, as applicable, shall provide to any
Certificateholders and any Serviced Companion Loan Noteholders that are federally insured financial institutions, the
Operating Advisor (but only if a Control Termination Event has occurred and is continuing), the Directing Holder (but only if
no Consultation Termination Event has occurred and is continuing), the Federal Reserve Board, the FDIC and the Office of the
Comptroller of the Currency and the supervisory agents and examiners of such boards and such corporations, and any other
federal or


 






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state banking or insurance regulatory authority that may exercise authority over any Certificateholder or Serviced
Companion Loan Noteholder is subject, access to the documentation regarding the Mortgage Loans or the Whole Loans, as
applicable, that it is servicing required by applicable regulations of the Federal Reserve Board, FDIC, Office of the
Comptroller of the Currency or any such federal or state banking or regulatory authority, such access being afforded without
charge but only upon reasonable written request and during normal business hours at the offices of the Master Servicer or
Special Servicer, as applicable. At the election of the Master Servicer, the Special Servicer or the Certificate
Administrator, such access may be afforded to such Person identified above by the delivery of copies of information as
requested by such Person and the Master Servicer, the Special Servicer or the Certificate Administrator shall be permitted to
require payment (other than from the Directing Holder and the Trustee and the Certificate Administrator on its own behalf or
on behalf of the Certificateholders, as applicable) of a sum sufficient to cover the reasonable out-of-pocket costs incurred
by it in making such copies. Such access shall (except as described in the preceding sentence) be afforded without charge but
only upon reasonable prior written request and during normal business hours at the offices of the Certificate
Administrator or the Custodian. In addition, upon reasonable prior written notice to the Master Servicer or the Special
Servicer, as the case may be, the Trustee, the Certificate Administrator, the Operating Advisor (but only if a Control
Termination Event has occurred and is continuing), the Depositor or their accountants or other representatives shall have
reasonable access to review the documents, correspondence and records in the possession of the Master Servicer or the Special
Servicer, as the case may be, as they relate to a Mortgaged Property and any Serviced REO Property during normal business
hours at the offices of the Master Servicer or the Special Servicer, as the case may be. Nothing in this Section 3.14
shall detract from the obligation of the Master Servicer and Special Servicer to observe any applicable law prohibiting
disclosure of information with respect to the Borrowers, and the failure of the Master Servicer and Special Servicer to
provide access as provided in this Section 3.14 as a result of such obligation shall not constitute a breach of
this Section 3.14.


 


(b)          In connection with providing
or granting any information or access pursuant to the prior paragraph to a Certificateholder, Serviced Companion Loan Noteholder
or any regulatory authority that may exercise authority over a Certificateholder or Serviced Companion Loan Noteholder, the Master
Servicer and the Special Servicer may each require payment from such Certificateholder or Serviced Companion Loan Noteholder (to
the extent permitted in the related Intercreditor Agreement) of a sum sufficient to cover the reasonable costs and expenses of
providing such information or access, including copy charges and reasonable fees for employee time and for space; provided
that no charge may be made if such information or access was required to be given or made available under applicable law. In connection
with providing Certificateholders or Serviced Companion Loan Noteholders access to the information described in the preceding paragraph
the Master Servicer and the Special Servicer, as applicable, may require (prior to affording such access) a written confirmation
executed by the requesting Person substantially in such form as may be reasonably acceptable to the Master Servicer or the Special
Servicer, as the case may be, generally to the effect that such Person is a Holder of Certificates or a beneficial holder of Book-Entry
Certificates or Serviced Companion Loan Noteholder or a regulator or governmental body and will keep such information confidential.


 






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(c)          Upon the reasonable request
of (1) any Certificateholder identified to the Master Servicer to the Master Servicer’s reasonable satisfaction (or, with
respect to any Serviced Companion Loan, the request of any Serviced Companion Loan Noteholder), the Master Servicer may provide
(or forward electronically) (at the expense of such Certificateholder, Serviced Companion Loan Noteholder) copies of any appraisals,
operating statements, rent rolls and financial statements obtained by the Master Servicer, or (2) any Controlling Class Certificateholder
identified to the Master Servicer (in the case of a Performing Loan) or the Special Servicer (in the case of a Specially Serviced
Loan) to the Master Servicer’s or Special Servicer’s reasonable satisfaction, the Master Servicer or Special Servicer,
as applicable, shall provide (or forward electronically) (at the expense of such Controlling Class Certificateholder) any Excluded
Information in the Master Servicer’s or Special Servicer’s, as applicable, possession (available on the Certificate
Administrator’s Website but not accessible to such Controlling Class Certificateholder through the Certificate Administrator’s
Website on account of it constituting Excluded Information) relating to any Excluded Controlling Class Mortgage Loan in which such
Controlling Class Certificateholder is not an Excluded Controlling Class Holder; provided that, in connection therewith,
the Master Servicer or Special Servicer, as applicable, may require a written confirmation executed by the requesting Person substantially
in such form as may be reasonably acceptable to the Master Servicer or Special Servicer, generally to the effect that such Person
is a Holder of Certificates or a Serviced Companion Loan Noteholder or a beneficial holder of Book-Entry Certificates or a regulator
or a governmental body and will keep such information confidential and will use such information only for the purpose of analyzing
asset performance and evaluating any continuing rights the Certificateholder may have under this Agreement. For the avoidance of
doubt, the Master Servicer shall not make any Asset Status Reports available to any Certificateholders on its website. None of
the parties to this Agreement shall provide any Asset Status Report or any Final Asset Status Report to the Certificate Administrator.


 


(d)          The 17g-5 Information Provider
shall make available solely to the Depositor and to any NRSRO that delivers an NRSRO Certification to the 17g-5 Information Provider
the following items to the extent such items are delivered to it via electronic mail at 17g5informationprovider@wellsfargo.com
(or such other address as the 17g-5 Information Provider shall specify by written notice to the other parties hereto) in an electronic
format readable and uploadable (that is not locked or corrupted) on the 17g-5 Information Provider’s system, specifically
with a subject reference of “DBJPM 2016-C1 Mortgage Trust, Series 2016-C1” and an identification of the type of information
being provided in the body of such electronic mail; or via any alternative electronic mail address following notice to the parties
hereto or any other delivery method established or approved by the 17g-5 Information Provider if or as may be necessary or beneficial
(provided, if such information is not in electronic format readable and uploadable (that is not locked or corrupted), then
the 17g-5 Information Provider shall immediately notify the applicable delivering party thereof, whereupon such party shall promptly
deliver the subject information in such format):


 


(i)          any waivers
delivered to the 17g-5 Information Provider pursuant to Section 3.09 of this Agreement;


 


(ii)         any Officer’s
Certificate supporting any determination that any Advance was (or, if made, would be) a Nonrecoverable Advance delivered to the
17g-5 Information


 






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Provider pursuant to Section 3.21(d) or Section 4.07(c) of this Agreement and notice
of determination not to refrain from reimbursement of all Nonrecoverable Advances;


 


(iii)        any Asset
Status Report delivered by the Special Servicer pursuant to Section 3.23(e) of this Agreement;


 


(iv)        any environmental
reports delivered by the Special Servicer pursuant to Section 3.10(g) of this Agreement;


 


(v)         any annual statements
as to compliance and related Officer’s Certificates delivered pursuant to Section 10.11 and Section 10.12
of this Agreement;


 


(vi)        any annual
independent public accountants’ attestation reports delivered pursuant to Section 10.13 of this Agreement;


 


(vii)       any Appraisals
delivered to the 17g-5 Information Provider pursuant to Section 3.10 of this Agreement;


 


(viii)      any notice
to the Rating Agencies relating to the Special Servicer’s determination to take action without receiving a Rating Agency
Confirmation from any Rating Agency as set forth in the definition of “Rating Agency Confirmation” pursuant to Section 3.30
of this Agreement;


 


(ix)         copies of any
questions or requests submitted by the Rating Agencies directed toward the Master Servicer, Special Servicer, Certificate Administrator
or Trustee;


 


(x)          any requests
for a Rating Agency Confirmation that are delivered to the 17g-5 Information Provider pursuant to Section 3.30 of this
Agreement;


 


(xi)         any notice
of resignation of the Trustee or Certificate Administrator and any notice of the acceptance of appointment by the successor Trustee
or successor Certificate Administrator pursuant to Section 8.07 or Section 8.08 of this Agreement;


 


(xii)        any notice
of resignation or assignment of the rights of the Master Servicer or the Special Servicer pursuant to Section 6.04
of this Agreement;


 


(xiii)       any notice
of Servicer Termination Event or termination of the Master Servicer or the Special Servicer delivered pursuant to Section 7.03
of this Agreement;


 


(xiv)       any notice
of the merger or consolidation of the Certificate Administrator or the Trustee pursuant to Section 8.09 of this Agreement;


 


(xv)        any notice
of the merger or consolidation of the Master Servicer, the Special Servicer, the Operating Advisor or the Asset Representations
Reviewer pursuant to Section 6.02 of this Agreement;


 


(xvi)       any notice
of any amendment that modifies the procedures herein relating to Exchange Act Rule 17g-5 pursuant to Section 12.08
of this Agreement;


 






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(xvii)      any notice
or other information provided by the Master Servicer pursuant to Section 12.07 of this Agreement;


 


(xviii)     any summary
of oral communication with the Rating Agencies delivered to the 17g-5 Information Provider pursuant to Section 3.14(f)
of this Agreement; provided that the summary of such oral communication shall not attribute which Rating Agency the communication
was with;


 


(xix)       the Rating
Agency Q&A Forum and Document Request Tool; and


 


(xx)        such information
as is delivered to the 17g-5 Information Provider by the Depositor in mutually agreeable electronic format within fifteen (15)
days of the Closing Date.


 


The foregoing information shall be
made available by the 17g-5 Information Provider on the 17g-5 Information Provider’s Website (a link to which shall be provided
on the Depositor’s website at www.intralinks.com or such other website as the Depositor may notify the parties hereto
in writing). Information will be posted on the same Business Day of receipt provided that such information is received by 2:00 p.m.
(eastern time) or, if received after 2:00 p.m., on the next Business Day by 12:00 p.m. New York City time. The 17g-5 Information
Provider shall have no obligation or duty to verify, confirm or otherwise determine whether the information being delivered is
accurate, complete, conforms to the transaction, or otherwise is or is not anything other than what it purports to be or whether
such information (other than (solely with respect to the 17g-5 Information Provider’s obligation to post such information)
the information set forth in clauses (i) through (xix) above) is required to be posted on the 17g-5 Information Provider’s
Website pursuant to this Agreement or Rule 17g-5. If any information is delivered or posted in error, the 17g-5 Information
Provider may remove it from the 17g-5 Information Provider’s Website. The Certificate Administrator and the 17g-5 Information
Provider have not obtained and shall not be deemed to have obtained actual knowledge of any information only by receipt and posting
to the 17g-5 Information Provider’s Website. Access will be provided by the 17g-5 Information Provider to the Rating Agencies,
and to the NRSROs upon receipt of an NRSRO Certification in the form of Exhibit Z hereto (which certification may be
submitted electronically via the 17g-5 Information Provider’s Website). If a Rating Agency requests access to the 17g-5 Information
Provider’s Website, access will be provided by the 17g-5 Information Provider on the same Business Day provided such request
is made prior to 2:00 p.m., on such Business Day, or, if received after 2:00 p.m., on the following Business Day. Questions regarding
delivery of information to the 17g-5 Information Provider may be directed to 17g5informationprovider@wellsfargo.com (or
such other address as the 17g-5 Information Provider shall specify by written notice to the other parties hereto).


 


Upon request of the Depositor or the
Rating Agencies (through the Rating Agency Q&A Forum and Document Request Tool) or if otherwise required under this Agreement,
the 17g-5 Information Provider shall post on the 17g-5 Information Provider’s Website any additional information requested
by the Depositor (including any pre-closing material from the Depositor’s Rule 17g-5 website) or the Rating Agencies or if
otherwise required under this Agreement to the extent such information is delivered to the 17g-5 Information Provider electronically
in accordance with this Section 3.14 of this Agreement. In no event shall any


 






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party to this Agreement disclose on the
17g-5 Information Provider’s Website which Rating Agency requested such additional information.


 


The 17g-5 Information Provider shall
notify any party that delivers information to the 17g-5 Information Provider under this Agreement that such information was received
and that it has been posted. The 17g-5 Information Provider shall notify each NRSRO that has provided a NRSRO Certification each
time a document is posted to the 17g-5 Information Provider’s Website and such notice shall specifically identify such document.
The 17g-5 Information Provider shall send such notice to such Persons to the email address that has been provided by and is used
by such Person for the purpose of accessing the 17g-5 Information Provider’s Website, including a general email address if
such general email address has been provided to the 17g-5 Information Provider in connection with a completed NRSRO Certification
in the form of Exhibit Z hereto.


 


The 17g-5 Information Provider shall
make available, only to NRSROs, the Rating Agency Q&A Forum and Document Request Tool. The “Rating Agency Q&A Forum
and Document Request Tool” shall be a service available on the 17g-5 Information Provider’s Website, where Rating Agencies
and NRSROs may (i) submit Inquiries to the Certificate Administrator relating to the Distribution Date Statement, submit Inquiries
to the Master Servicer or the Special Servicer, as applicable, relating to the reports being made available pursuant to this Section 4.02(d),
the Mortgage Loans (other than a Non-Serviced Mortgage Loan) or the Mortgaged Properties or submit inquiries to the Operating Advisor
relating to the Operating Advisor Annual Reports or actions by the Master Servicer or the Special Servicer as to which the Operating
Advisor has consultation rights pursuant to Section 3.31, whether or not referenced in such Operating Advisor Annual
Report, (ii) view Inquiries that have been previously submitted and answered, together with the answers thereto and (iii) submit
requests for loan-level reports and information. Upon receipt of an Inquiry for the Certificate Administrator, the Operating Advisor,
the Master Servicer or the Special Servicer, the 17g-5 Information Provider shall forward the Inquiry to the Certificate Administrator,
Operating Advisor, the Master Servicer or the Special Servicer, as applicable, and in the case of an inquiry relating to any Non-Serviced
Mortgage Loan, to the applicable party under the related Other Pooling and Servicing Agreement, in each case within a commercially
reasonable period following receipt thereof. Following receipt of an Inquiry or request relating to the subject matters described
in clauses (i) or (iii) above, the Certificate Administrator, the Operating Advisor, the Master Servicer or the Special Servicer,
as applicable, unless it determines not to answer such Inquiry as provided below, shall reply to the Inquiry, which reply of the
Certificate Administrator, the Operating Advisor, Master Servicer or Special Servicer shall be by email to the 17g-5 Information
Provider. The 17g-5 Information Provider shall post (within a commercially reasonable period following preparation or receipt of
such answer, as the case may be) such Inquiry and the related answer (or reports, as applicable) to the 17g-5 Information Provider’s
Website. Any report posted by the 17g-5 Information Provider in response to a request may be posted on a page accessible by a link
on the 17g-5 Information Provider’s Website. If the Certificate Administrator, the Operating Advisor, the Master Servicer
or the Special Servicer determines, in its respective sole discretion, that (i) the question is beyond the scope outlined
above, (ii) answering any Inquiry would not be in the best interests of the Trust and/or the Certificateholders or would be
in violation of applicable law, the Servicing Standard, this Agreement or the applicable Loan Documents, (iii) answering any
Inquiry would or is


 






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reasonably expected to result in a waiver of an attorney-client privilege or the disclosure of attorney work
product or answering such inquiry is otherwise not advisable or (iv) (A) answering any Inquiry would materially increase
the duties of, or result in significant additional cost or expense to, the Certificate Administrator, the Operating Advisor, the
Master Servicer or the Special Servicer, as applicable, and (B) the Certificate Administrator, the Operating Advisor, the
Master Servicer or the Special Servicer, as applicable, determines in accordance with the Servicing Standard (or in good faith,
in the case of the Certificate Administrator or the Operating Advisor) that the performance of such duties or the payment of such
costs and expenses is beyond the scope of its duties in its capacity as Certificate Administrator, Operating Advisor, Master Servicer
or Special Servicer, as applicable, under this Agreement, it shall not be required to answer such Inquiry and, in the case of the
Certificate Administrator, the Operating Advisor, the Master Servicer or the Special Servicer, shall promptly notify the 17g-5
Information Provider, and the 17g-5 Information Provider shall post such Inquiry on the Rating Agency Q&A Forum and Document
Request Tool together with a statement that such Inquiry was not answered. Answers posted on the Rating Agency Q&A Forum and
Document Request Tool will be attributable only to the respondent, and shall not be deemed to be answers from any of the Depositor,
the Underwriters, the Initial Purchasers, the Master Servicer, the Special Servicer, the Operating Advisor, the Certificate Administrator
or the Trustee or any of their respective Affiliates and no such party shall have any responsibility or liability for the content
of any such information. The 17g-5 Information Provider shall not be required to post to the 17g-5 Information Provider’s
Website any Inquiry or answer thereto that the 17g-5 Information Provider determines, in its sole discretion, is administrative
or ministerial in nature. The Rating Agency Q&A Forum and Document Request Tool will not reflect questions, answers and other
communications between the 17g-5 Information Provider and any Person which are not submitted via the 17g-5 Information Provider’s
Website.


 


In connection with providing access
to the Certificate Administrator’s Website and the 17g-5 Information Provider’s Website, the Certificate Administrator
and/or the 17g-5 Information Provider may require registration and the acceptance of a disclaimer. The Certificate Administrator
and the 17g-5 Information Provider, as the case may be, shall not be liable for the dissemination of information in accordance
with the terms of this Agreement, make no representations or warranties as to the accuracy or completeness of such information
being made available, and assume no responsibility for such information; provided that it is acknowledged and agreed that
the 17g-5 Information Provider shall not be charged with knowledge of any of the contents of such information solely by virtue
of its compliance with its obligations to post such information to the 17g-5 Information Provider’s Website. The 17g-5 Information
Provider shall not be liable for its failure to make any information available to the NRSROs unless such information was delivered
to the 17g-5 Information Provider at the email address set forth herein in an electronic format readable and uploadable (that is
not locked or corrupted) on the 17g-5 Information Provider’s system, with a subject heading of “DBJPM 2016-C1 Mortgage
Trust, Series 2016-C1” and sufficient detail to indicate that such information is required to be posted on the 17g-5 Information
Provider’s Website; provided, if such information is not in electronic format readable and uploadable (that is not
locked or corrupted), then the 17g-5 Information Provider shall immediately notify the applicable delivering party thereof, whereupon
such party shall promptly deliver the subject information in such format.


 






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The 17g-5 Information Provider shall
not be responsible or have any liability for any act, omission or delay attributable to the failure of any other party to this
Agreement to timely deliver information to be posted on the 17g-5 Information Provider’s Website or for any errors or defects
in the information supplied by any such party.


 


The 17g-5 Information Provider’s
obligations in respect of Rule 17g-5 or any other law or regulation related thereto shall be limited to the specific obligations
contained in this Agreement and the 17g-5 Information Provider makes no representations or warranties as to the compliance of the
Depositor with Rule 17g-5 or any other law or regulation related thereto.


 


With respect to each Non-Serviced Mortgage
Loan, each of the Master Servicer, the Special Servicer, the Certificate Administrator and the Trustee shall provide to the 17g-5
Information Provider for posting on the 17g-5 Information Provider’s Website, promptly upon receipt from a Non-Serviced Mortgage
Loan Service Provider, all reports, statements, documents, notices and other information it receives in respect of such Non-Serviced
Mortgage Loan that such party would otherwise have been required to be submitted to the 17g-5 Information Provider under this Agreement
for posting had such Non-Serviced Mortgage Loan been a Serviced Mortgage Loan. The 17g-5 Information Provider shall post on the
17g-5 Information Provider’s Website all such information it receives in accordance with this Agreement.


 


(e)          Each of the Master Servicer
and the Special Servicer may, in accordance with such reasonable rules and procedures as it may adopt, also deliver, produce or
otherwise make available through its website or otherwise, any additional information identified in Section 3.14(d)
of this Agreement relating to the Mortgage Loans or Whole Loans, the Mortgaged Properties or the related Borrowers, for review
by the Depositor, the Underwriters, the Initial Purchasers and any other Persons who deliver an Investor Certification in accordance
with this Section 3.14, the related Serviced Companion Loan Noteholder (if any), the Directing Holder and the Rating
Agencies (collectively, the “Disclosure Parties”) (only to the extent such additional information is simultaneously
or previously delivered to the 17g-5 Information Provider in accordance with the provisions of Section 3.14(d) of this
Agreement, who shall post such additional information on the 17g-5 Information Provider’s Website in accordance with the
provisions of Section 3.14(d) of this Agreement), in each case, except to the extent doing so is prohibited by this
Agreement, applicable law or by the related Loan Documents. Each of the Master Servicer and the Special Servicer shall be entitled
to (i) indicate the source of such information and affix thereto any disclaimer it deems appropriate in its discretion and/or
(ii) require that the recipient of such information (A) except for the Depositor, enter into an Investor Certification
or other confidentiality agreement acceptable to the Master Servicer or the Special Servicer, as the case may be, and (B) acknowledge
that the Master Servicer or the Special Servicer may contemporaneously provide such information to any other Disclosure Party.
In addition, to the extent access to such information is provided via the Master Servicer’s or the Special Servicer’s
website, the Master Servicer and the Special Servicer may require registration and the acceptance of a reasonable and customary
disclaimer and/or an additional or alternative agreement as to the confidential nature of such information. In connection with
providing access to or copies of the information described in this Section 3.14(e) to current or prospective Certificateholders
the form of confidentiality agreement used by the Master Servicer or the Special Servicer, as applicable, shall be: (i) in
the case of a Certificateholder (or a licensed


 






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or registered investment advisor acting on behalf of such Certificateholder), an
Investor Certification executed by the requesting Person indicating that such Person is a Holder of Certificates and will keep
such information confidential (except that such Certificateholder may provide such information (x) to its auditors, legal
counsel and regulators and (y) to any other Person that holds or is contemplating the purchase of any Certificate or interest
therein (provided that such other Person confirms in writing such ownership interest or prospective ownership interest and
agrees to keep such information confidential)); and (ii) in the case of a prospective purchaser of Certificates or interests
therein (or a licensed or registered investment advisor acting on behalf of such prospective purchaser), an Investor Certification
indicating that such Person is a prospective purchaser of a Certificate or an interest therein and is requesting the information
for use in evaluating a possible investment in Certificates and will otherwise keep such information confidential with no further
dissemination (except that such Certificateholder may provide such information to its auditors, legal counsel and regulators).
In the case of a licensed or registered investment advisor acting on behalf of a current or prospective Certificateholder, the
Investor Certification shall be executed and delivered by both the investment advisor and such current or prospective Certificateholder.


 


Neither the Master Servicer nor the
Special Servicer shall be liable for its dissemination of information in accordance with this Agreement or by others in violation
of the terms of this Agreement. Neither the Master Servicer nor the Special Servicer shall be responsible or have any liability
for the completeness or accuracy of the information delivered, produced or otherwise made available pursuant to this Section 3.14
unless (i) the Master Servicer or Special Servicer, as applicable, is the original source for such information and (ii) such
failure to deliver complete and accurate information is by reason of such party’s willful misconduct, bad faith, fraud and/or
negligence.


 


In connection with the delivery by
the Master Servicer or the Special Servicer, as applicable, to the 17g-5 Information Provider of any information, report, notice
or document for posting to the 17g-5 Information Provider’s Website, the 17g-5 Information Provider shall notify the Master
Servicer or the Special Servicer, as applicable, of when such information, report, notice or document has been posted to the 17g-5
Information Provider’s Website. The Master Servicer or the Special Servicer, as applicable, may, but is not obligated to,
send such information report, notice or other document to the applicable Rating Agency or Rating Agencies following the earlier
of (a) receipt of notification from the 17g-5 Information Provider that such information, report, notice or other document has
been posted to the Rule 17g-5 Information Provider’s Website and (b) 12:00 p.m. on the first Business Day following the date
the Master Servicer or the Special Servicer, as applicable, has provided such information, report, notice or other document to
the 17g-5 Information Provider.


 


(f)          The Master Servicer, the Special
Servicer, the Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer and the Trustee shall be permitted
(but shall not be required) to orally communicate with the Rating Agencies regarding any Mortgage Loan, Serviced Whole Loan, any
Certificateholder, any Serviced Companion Loan Noteholder, any Mortgaged Property or any REO Property; provided that such
party summarizes the information provided to the Rating Agencies in such communication and provides the 17g-5 Information Provider
and the related Other 17g-5 Information Provider (if any) with such summary in accordance with the procedures set forth in Section 3.14(d)
of this Agreement the


 






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same day such communication takes place; provided that the summary of such oral communications shall
not attribute which Rating Agency the communication was with. The 17g-5 Information Provider shall post such summary on the 17g-5
Information Provider’s Website in accordance with the procedures set forth in Section 3.14(d) of this Agreement.


 


(g)          None of the foregoing restrictions
in this Section 3.14 or otherwise in this Agreement shall prohibit or restrict oral or written communications, or providing
information, between the Master Servicer, the Operating Advisor, the Asset Representations Reviewer or the Special Servicer, on
the one hand, and any Rating Agency or NRSRO, on the other hand, with regard to (i) such Rating Agency’s or NRSRO’s
review of the ratings it assigns to the Master Servicer, the Operating Advisor, the Asset Representations Reviewer or the Special
Servicer, as applicable, (ii) such Rating Agency’s or NRSRO’s approval of the Master Servicer, the Operating Advisor,
the Asset Representations Reviewer or the Special Servicer, as applicable, as a commercial mortgage master, special or primary
servicer or (iii) such Rating Agency’s or NRSRO’s evaluation of the Master Servicer’s, the Operating Advisor, the Asset
Representations Reviewer or the Special Servicer’s, as applicable, servicing operations in general; provided, that the Master
Servicer, the Operating Advisor, the Asset Representations Reviewer or the Special Servicer, as applicable, shall not provide any
information relating to the Certificates or the Mortgage Loans to any Rating Agency or NRSRO in connection with such review and
evaluation by such Rating Agency or NRSRO unless (x) Borrower, property and other deal specific identifiers are redacted;
(y) such information has already been provided to the 17g-5 Information Provider and has been uploaded on to the 17g-5 Information
Provider’s Website or the Master Servicer or Special Servicer, as applicable, has in fact provided such information to such Rating
Agency in accordance with Section 3.14(e); or (z) the Rating Agency confirms in writing that it does not intend to
use such information in undertaking credit rating surveillance with respect to the Certificates; provided, however,
that the Rating Agencies may use information delivered under this clause (z) for any purpose to the extent it is publicly available
(unless the availability results from a breach of this Agreement or any other confidentiality agreement to which such Rating Agency
is subject) or comprised of information collected by the applicable Rating Agency from the 17g-5 Information Provider’s Website
(or another 17g-5 information provider’s website that they have access to) other than pursuant to this Section 3.14(g).


 


(h)          The costs and expenses of compliance
with this Section 3.14 by the Depositor, the Master Servicer, the Special Servicer, the Trustee and any other party
hereto shall not be Additional Trust Fund Expenses.


 


Section 3.15     Title
and Management of REO Properties and REO Accounts. (a) If title to any Mortgaged Property (other than with respect to a
Non-Serviced Mortgage Loan) is acquired for the benefit of Certificateholders (and, in the case of the Serviced Whole Loans,
the related Serviced Companion Loan Noteholders) in foreclosure, by deed in lieu of foreclosure or upon abandonment or
reclamation from bankruptcy, the deed or certificate of sale shall be taken in the name of the Trust where permitted by
applicable law or regulation and consistent with customary servicing procedures, and otherwise in the name of the Trustee, or
its nominee (which shall not include the Master Servicer), or a separate Trustee or co-Trustee, on behalf of the Trust Fund
(and, in the case of the Serviced Whole Loans, the related Serviced Companion Loan Noteholders). The Special Servicer, on
behalf of the Trust Fund (and, in the


 






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case of the Serviced Whole Loans, the related Serviced Companion Loan Noteholders),
shall dispose of any Serviced REO Property prior to the close of the third calendar year following the year in which the
Trust Fund acquires ownership of such Serviced REO Property for purposes of Section 860G(a)(8) of the Code, unless
(i) the Special Servicer on behalf of the Lower-Tier REMIC has applied for an extension of such period pursuant to
Sections 856(e)(3) and 860G(a)(8)(A) of the Code, in which case the Special Servicer shall sell such Serviced REO
Property within the applicable extension period or if the Special Servicer has applied for extension as provided in this clause (i) but
such request has not yet been granted or denied, the additional time specified in such request, or (ii) the Special
Servicer seeks and subsequently receives an Opinion of Counsel (which opinion shall be an expense of the Trust Fund and, in
the case of a Serviced Whole Loan, such expenses shall be allocated in accordance with the allocation provisions set forth in
the related Intercreditor Agreement), addressed to the Special Servicer, the Certificate Administrator and the Trustee, to
the effect that the holding by the Trust Fund of such Serviced REO Property for an additional specified period will not cause
such Serviced REO Property to fail to qualify as “foreclosure property” within the meaning of
Section 860G(a)(8) of the Code (determined without regard to the exception applicable for purposes of
Section 860D(a) of the Code) at any time that any Certificate is outstanding, in which event such period shall be
extended by such additional specified period subject to any conditions set forth in such Opinion of Counsel. The Special
Servicer, on behalf of the Trust Fund (and, in the case of the Serviced Whole Loans, the related Serviced Companion Loan
Noteholders), shall dispose of any Serviced REO Property held by the Trust Fund prior to the last day of such period (taking
into account extensions) by which such Serviced REO Property is required to be disposed of pursuant to the provisions of the
immediately preceding sentence in a manner provided under Section 3.16 hereof. In the case of the Trust
Fund’s beneficial interest in any REO Property acquired by the Other Trustee pursuant to an Other Pooling and Servicing
Agreement, the Special Servicer shall coordinate with the Other Special Servicer with respect to any REO extension on behalf
of the Trust Fund. The Special Servicer shall manage, conserve, protect and operate each Serviced REO Property for
the Certificateholders (and, in the case of the Serviced Whole Loans, the related Serviced Companion Loan Noteholders) solely
for the purpose of its prompt disposition and sale in a manner which does not cause such Serviced REO Property to fail to
qualify as “foreclosure property” within the meaning of Section 860G(a)(8) of the Code (determined without
regard to the exception applicable for purposes of Section 860D(a) of the Code) and such that income from the
operation or sale of such property does not result in receipt by the Trust Fund of any income from non-permitted assets as
described in Section 860F(a)(2)(B) of the Code with respect to such property.


 


(b)          The Special Servicer shall have
full power and authority, subject only to the Servicing Standard and the specific requirements and prohibitions of this Agreement,
to do any and all things in connection with any Serviced REO Property as are consistent with the manner in which the Special Servicer
manages and operates similar property owned or managed by the Special Servicer or any of its Affiliates, all on such terms and
for such period as the Special Servicer deems to be in the best interests of Certificateholders and, in the case of the Serviced
Whole Loans, the related Serviced Companion Loan Noteholders and, in connection therewith, the Special Servicer shall agree to
the payment of management fees that are consistent with general market standards. Consistent with the foregoing, the Special Servicer
shall cause or permit to be earned with respect to such Serviced REO Property any “net income from foreclosure property,”
within the meaning of Section 860G(c) of the Code, which is subject to


 






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tax under the REMIC Provisions, only if it has
determined, and has so advised the Trustee and the Certificate Administrator in writing, that the earning of such income on a net
after-tax basis could reasonably be expected to result in a greater recovery on behalf of Certificateholders (and, in the case
of the Serviced Whole Loans, the related Serviced Companion Loan Noteholders) than an alternative method of operation or rental
of such Serviced REO Property that would not be subject to such a tax.


 


The Special Servicer shall segregate
and hold all revenues received by it with respect to any Serviced REO Property separate and apart from its own funds and general
assets and shall establish and maintain with respect to any Serviced REO Property a segregated custodial account (each, an “REO
Account”), each of which shall be an Eligible Account and shall be entitled “Midland Loan Services, a Division
of PNC Bank, National Association, as Special Servicer, on behalf of Wilmington Trust, National Association, as Trustee, for the
benefit of the Holders of DBJPM 2016-C1 Mortgage Trust Commercial Mortgage Pass-Through Certificates, Series 2016-C1 and the related
Serviced Companion Loan Noteholders REO Account,” to be held for the benefit of the Certificateholders and the related Serviced
Companion Loan Noteholders. The Special Servicer shall be entitled to withdraw for its account any interest or investment income
earned on funds deposited in an REO Account to the extent provided in Section 3.07(b) of this Agreement. The Special
Servicer shall deposit or cause to be deposited REO Proceeds in the REO Account or the applicable Serviced Whole Loan REO Account
within two Business Days after receipt of such properly identified and available REO Proceeds, and shall withdraw therefrom funds
necessary for the proper operation, management and maintenance of such Serviced REO Property and for other Property Protection
Expenses with respect to such Serviced REO Property, including:


 


(i)          all insurance
premiums due and payable in respect of any Serviced REO Property;


 


(ii)         all real estate
taxes and assessments in respect of any Serviced REO Property that may result in the imposition of a lien thereon;


 


(iii)        all costs
and expenses reasonable and necessary to protect, maintain, manage, operate, repair and restore any Serviced REO Property including,
if applicable, the payments of any ground rents in respect of such Serviced REO Property; and


 


(iv)        any taxes imposed
on the Lower-Tier REMIC, as applicable, in respect of net income from foreclosure property in accordance with Section 4.05,
and with respect to a Serviced Whole Loan, such expenses shall be allocated pro rata to the Mortgage Loan and any related
Serviced Companion Loans based on each loan’s Stated Principal Balance and only to the extent any such Serviced Companion
Loan is included in a REMIC.


 


To the extent that such REO Proceeds
are insufficient for the purposes set forth in clauses (i) through (iii) above, the Master Servicer shall make such Advance
unless the Master Servicer or the Special Servicer determines, in accordance with the Servicing Standard, that such Servicing Advance
would constitute a Nonrecoverable Advance (provided that with respect to advancing insurance premiums or delinquent tax
assessments the Master Servicer shall comply with the provisions of the second to last paragraph in Section 3.21(d)
of this Agreement) and if the Master Servicer does not make any such Advance, the Trustee, to the extent the Trustee has


 






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actual
knowledge of the Master Servicer’s failure to make such Advance, shall make such Advance, unless in each case, the Master
Servicer, the Special Servicer or the Trustee, as applicable, determines that such Advance would be a Nonrecoverable Advance. The
Trustee shall be entitled to rely, conclusively, on any determination by the Special Servicer or the Master Servicer, as applicable,
that an Advance, if made, would be a Nonrecoverable Advance. The Trustee, when making an independent determination whether or not
a proposed Advance would be a Nonrecoverable Advance, shall use its good faith business judgment. The Master Servicer or the Trustee,
as applicable, shall be entitled to reimbursement of such Advances (with interest at the Reimbursement Rate) made pursuant to the
preceding sentence, to the extent permitted by Section 3.06 of this Agreement. The Special Servicer shall withdraw
from each REO Account or Serviced Whole Loan REO Account, as applicable, and remit to the Master Servicer for deposit into the
Collection Account or the applicable Serviced Whole Loan Collection Account, as applicable, on a monthly basis on the later of
the date that is (x) on or prior to the related Determination Date or (y) two (2) Business Days after such amounts are
received and properly identified and determined to be available, the Net REO Proceeds received or collected from each Serviced
REO Property, except that in determining the amount of such Net REO Proceeds, the Special Servicer may retain in each REO Account
reasonable reserves for repairs, replacements and necessary capital improvements and other related expenses.


 


Notwithstanding the foregoing, the
Special Servicer shall not:


 


(i)           permit any New
Lease to be entered into, renewed or extended, if the New Lease by its terms will give rise to any income that does not constitute
Rents from Real Property;


 


(ii)          permit any amount
to be received or accrued under any New Lease, other than amounts that will constitute Rents from Real Property;


 


(iii)         authorize or
permit any construction on any Serviced REO Property, other than the repair or maintenance thereof or the completion of a building
or other improvement thereon, and then only if more than ten percent of the construction of such building or other improvement
was completed before default on the related Mortgage Loan became imminent, all within the meaning of Section 856(e)(4)(B) of
the Code; or


 


(iv)         Directly Operate
or allow any Person to Directly Operate any Serviced REO Property on any date more than 90 days after its date of acquisition
by the Trust Fund, unless such Person is an Independent Contractor;


 


unless, in any such case, the Special Servicer has requested
and received an Opinion of Counsel addressed to the Special Servicer, the Certificate Administrator and the Trustee (which opinion
shall be an expense of the Trust Fund and, in the case of a Serviced Whole Loan with a Serviced Companion Loan, such expense shall
be allocated in accordance with the allocation provisions of the related Intercreditor Agreement) to the effect that such action
will not cause such Serviced REO Property to fail to qualify as “foreclosure property” within the meaning of Section 860G(a)(8)
of the Code (determined without regard to the exception applicable for purposes of Section 860D(a) of the Code) at any
time that it is held by the Trust Fund, in which case the Special Servicer may take such actions as are specified in such Opinion
of Counsel.


 






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The Special Servicer shall be required
to contract with an Independent Contractor, the fees and expenses of which shall be an expense of the Trust Fund (and, in the case
of the Serviced Whole Loans, such expense shall be allocated in accordance with the allocation provisions of the related Intercreditor
Agreement) and payable out of REO Proceeds, for the operation and management of any Serviced REO Property, within 90 days
of the Trust Fund’s acquisition thereof (unless the Special Servicer shall have provided the Trustee and the Certificate
Administrator with an Opinion of Counsel that the operation and management of any Serviced REO Property other than through an Independent
Contractor shall not cause such Serviced REO Property to fail to qualify as “foreclosure property” within the meaning
of Section 860G(a)(8) of the Code) (which opinion shall be an expense of the Trust Fund, and in the case of a Serviced Whole
Loan, such expense shall be allocated in accordance with the allocation provisions of the related Intercreditor Agreement), provided
that:


 


(i)          the terms and
conditions of any such contract shall be reasonable and customary for the area and type of property and shall not be inconsistent
herewith;


 


(ii)         any such contract
shall require, or shall be administered to require, that the Independent Contractor pay all costs and expenses incurred in connection
with the operation and management of such Serviced REO Property, including those listed above, and remit all related revenues (net
of such costs and expenses) to the Special Servicer as soon as practicable, but in no event later than 30 days following the
receipt thereof by such Independent Contractor;


 


(iii)         none of the
provisions of this Section 3.15(b) relating to any such contract or to actions taken through any such Independent Contractor
shall be deemed to relieve the Special Servicer of any of its duties and obligations to the Trust Fund, the Trustee on behalf of
the Certificateholders and, in the case of a Serviced Whole Loan, the related Companion Loan Noteholders, with respect to the operation
and management of any such Serviced REO Property; and


 


(iv)        the Special Servicer
shall be obligated with respect thereto to the same extent as if it alone were performing all duties and obligations in connection
with the operation and management of such Serviced REO Property.


 


The Special Servicer shall be entitled
to enter into any agreement with any Independent Contractor performing services for it related to its duties and obligations hereunder
for indemnification of the Special Servicer by such Independent Contractor, and nothing in this Agreement shall be deemed to limit
or modify such indemnification.


 


(c)          Promptly following any acquisition
by the Special Servicer of a Serviced REO Property on behalf of the Trust Fund, the Special Servicer shall notify the Master
Servicer thereof, and, upon delivery of such notice, the Special Servicer shall obtain an Updated Valuation thereof, but only if
any Updated Valuation with respect thereto is more than 9 months old and the Special Servicer has no actual knowledge of any material
adverse change in circumstances that, consistent with the Servicing Standard, would call into question the validity of such Updated
Valuation, in order to determine the fair market value of such Serviced REO Property and shall notify the Depositor and the Master
Servicer and with respect to a Serviced Whole Loan, the holder of the related Companion Loan, if any, and of the results of such


 






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Updated Valuation. Any such Updated Appraisal shall be conducted in accordance with Appraisal Institute standards and the cost
thereof shall be an expense of the Trust Fund and allocated to the Classes of Sequential Pay Certificates in the following order,
in each case until the Certificate Balance of such Class of Certificates is reduced to zero: first, to the Class H Certificates;
second, to the Class G; third, to the Class F Certificates; fourth, to the Class E Certificates; fifth,
to the Class D Certificates; sixth, to the Class C Certificates; seventh, to the Class B Certificates; eighth,
to the Class A-M Certificates; and then to Class A-1, Class A-2, Class A-SB, Class A-3A, Class A-3B and Class A-4,
pro rata based on their respective Certificate Balances. In the case of any Serviced Pari Passu Whole Loan such expenses
shall be allocated in accordance with the allocation provisions set forth in the related Intercreditor Agreement. The Special Servicer
shall obtain a new Updated Valuation or a letter update every 9 months thereafter until the Serviced REO Property is sold.


 


(d)         When and as necessary, the Special
Servicer shall send to the Certificate Administrator a statement prepared by the Special Servicer setting forth the amount of net
income or net loss, as determined for federal income tax purposes, resulting from the operation and management of a trade or business
on, the furnishing or rendering of a non-customary service to the tenants of, or the receipt of any other amount not constituting
Rents from Real Property in respect of, any Serviced REO Property in accordance with Sections 3.15(a) and 3.15(b)
of this Agreement.


 


(e)          Upon the disposition of any
Serviced REO Property in accordance with this Section 3.15, the Special Servicer shall calculate the Gain-on-Sale Proceeds
allocable to a Mortgage Loan or the applicable Serviced Whole Loan, if any, realized in connection with such sale.


 


Section 3.16     Sale
of Specially Serviced Loans and REO Properties. (a) The parties hereto may sell or purchase, or permit the sale or
purchase of, a Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced Whole Loan only on the terms and subject
to the conditions set forth in this Section 3.16 or as otherwise expressly provided in or contemplated by Section 2.03(e)
and Section 9.01 of this Agreement or in an applicable Intercreditor Agreement.


 


(b)          If the Special Servicer determines
in accordance with the Servicing Standard that it would be in the best interests of the Certificateholders and, in the case of
a Serviced Whole Loan, the Certificateholders and the related Serviced Companion Loan Noteholders (as a collective whole as if
such Certificateholders and, if applicable, Serviced Companion Loan Noteholders constituted a single lender to attempt to sell
a Defaulted Loan (other than any Non-Serviced Mortgage Loan) and any related Serviced Companion Loan, the Special Servicer shall
use reasonable efforts to solicit offers for each such Defaulted Loan on behalf of the Certificateholders and, if applicable, the
related Serviced Companion Loan Noteholders in such manner as will be reasonably likely to realize a fair price. In the case of
a Non-Serviced Mortgage Loan, to the extent that such Non-Serviced Mortgage Loan is not sold together with the related Non-Serviced
Companion Loan by the Other Special Servicer for the related Non-Serviced Whole Loan and, if permitted under the related Intercreditor
Agreement, the Special Servicer shall be entitled to sell (with the consent of the Directing Holder prior to the occurrence and
continuance of a Control Termination Event) such Non-Serviced Mortgage Loan if it determines in accordance with the Servicing Standard
that such action would be in the best


 






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interests of the Certificateholders (and shall be entitled to a Liquidation Fee in connection
with such sale). The Special Servicer shall accept the first cash offer received from any Person that constitutes a fair price
for such Defaulted Loan. Subject to Section 3.16(k), if the Special Servicer receives more than one cash offer that constitutes
a fair price for such Defaulted Loan during the period designated by the Special Servicer for receipt of offers, the Special Servicer
shall accept the highest price.


 


The Special Servicer shall give the
Trustee, the Certificate Administrator, the Master Servicer, the Operating Advisor and the Directing Holder, not less than ten
Business Days’ prior written notice of its intention to sell any such Defaulted Loan, and notwithstanding anything to the
contrary herein, neither the Trustee, in its individual capacity, nor any of its Affiliates may make an offer for or purchase any
such Defaulted Loan pursuant to this Agreement.


 


(c)          Whether any cash offer constitutes
a fair price for such Defaulted Loan, as the case may be, shall be determined by the Special Servicer, if the highest offeror is
a Person other than an Interested Person, and by the Trustee, if the highest offeror is an Interested Person; provided,
that no offer from an Interested Person shall constitute a fair price unless (i) if the offer is equal to or greater than the applicable
Purchase Price, then the offer is the highest offer received, or (ii) if the offer is less than the applicable Purchase Price,
then (a) the offer is the highest offer received and (b) at least two other offers are received from independent third parties.
In determining whether any offer received from an Interested Person represents a fair price for any such Defaulted Loan, the Trustee
shall be supplied with and shall rely on the most recent Appraisal or Updated Appraisal conducted in accordance with this Agreement
within the preceding 9-month period or in the absence of any such Appraisal, on a narrative appraisal prepared by an Independent
MAI appraiser selected by (i) the Special Servicer if the Special Servicer or an Affiliate of the Special Servicer is not making
an offer with respect to such Defaulted Loan, (ii) by the Master Servicer if the Special Servicer is making such an offer unless
the Master Servicer and Special Servicer are Affiliates or (iii) the Operating Advisor if the Master Servicer and Special Servicer
are Affiliates and the Special Servicer is making an offer. The cost of any such Updated Appraisal or narrative appraisal shall
be covered by, and shall be reimbursable as, a Servicing Advance. In addition, the Trustee shall be permitted to retain, at the
expense of the related Interested Person, an independent third party expert in real estate or commercial mortgage loan matters
with at least 5 years’ experience in valuing or investing in loans similar to the subject Mortgage Loan or Serviced Whole
Loan, as the case may be, that has been selected with reasonable care by the trustee to determine such fair price and will be permitted
to conclusively rely on the opinion of such third party’s determination. Any costs and fees of the Trustee in connection
with an offer by an Interested Person and the Trustee’s duties therewith shall be paid in advance of any such determination
by such Interested Person.


 


In determining whether any offer from
a Person other than an Interested Person constitutes a fair price for any such Defaulted Loan, the Special Servicer shall take
into account (in addition to the results of any Appraisal, Updated Appraisal or narrative appraisal that it may have obtained pursuant
to this Agreement within the prior 9 months), and in determining whether any offer from an Interested Person constitutes a fair
price for any such Defaulted Loan, any appraiser shall be instructed to take into account, as applicable, among other factors,
the period and amount of the Delinquency on such Defaulted Loan, the period and amount of the occupancy


 






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level and physical condition
of the related Mortgaged Property, the state of the local economy in the area where the Mortgaged Property is located, the expected
recovery from such Defaulted Loan if the Special Servicer were to pursue a workout strategy, and the time and expense associated
with a purchaser’s foreclosing on the related Mortgaged Property.


 


In addition, the Special Servicer shall
refer to all other relevant information obtained by it or otherwise contained in the Mortgage File; provided that the Special
Servicer shall take account of any change in circumstances regarding the related Mortgaged Property known to the Special Servicer
that has occurred subsequent to, and that would, in the Special Servicer’s reasonable judgment, materially affect the value
of the related Mortgaged Property reflected in the most recent related Appraisal. Furthermore, the Special Servicer may consider
available objective third party information obtained from generally available sources, as well as information obtained from vendors
providing real estate services to the Special Servicer, concerning the market for distressed real estate loans and the real estate
market for the subject property type in the area where the related Mortgaged Property is located. The Special Servicer may, to
the extent it is reasonable to do so in accordance with the Servicing Standard, conclusively rely on any opinions or reports of
qualified Independent experts in real estate or commercial mortgage loan matters with at least five years’ experience in
valuing or investing in loans similar to the subject Specially Serviced Loan, selected with reasonable care by the Special Servicer,
in making such determination. All reasonable costs and expenses incurred by the Special Servicer pursuant to this Section 3.16(c)
shall constitute, and be reimbursable as, Servicing Advances. The other parties to this Agreement shall cooperate with all reasonable
requests for information made by the Special Servicer in order to allow the Special Servicer to perform its duties pursuant to
this Section 3.16(c).


 


The Purchase Price (which, in connection
with the administration of a Defaulted Loan related to a Serviced Whole Loan, shall be construed and calculated as if the loans
in such Serviced Whole Loan together constitute a single Mortgage Loan thereunder) for any such Defaulted Loan shall in all cases
be deemed a fair price.


 


(d)          Subject to subsection (c)
above, the Special Servicer shall act on behalf of the Trustee (for the benefit of the Certificateholders and, in the case of a
Serviced Whole Loan, the related Serviced Companion Loan Noteholders) in negotiating and taking any other action necessary or appropriate
in connection with the sale of any such Defaulted Loan, and the applicable collection of all amounts payable in connection therewith.
In connection therewith, the Special Servicer may charge for its own account prospective offerors, and may retain, fees that approximate
the Special Servicer’s actual costs in the preparation and delivery of information pertaining to such sales or exchanging
offers without obligation to deposit such amounts into the REO Account the Collection Account or, in the case of any Serviced Whole
Loan, the applicable Serviced Whole Loan Collection Account. Any sale of such Defaulted Loan shall be final and without recourse
to the Trustee or the Trust Fund (except such recourse to the Trust Fund imposed by those representations and warranties typically
given in such transactions, any prorations applied thereto and any customary closing matters), and if such sale is consummated
in accordance with the terms of this Agreement, none of the Special Servicer, the Master Servicer, the Depositor, the Certificate
Administrator, the Operating Advisor, the Asset Representations Reviewer or the Trustee shall have any liability to any Certificateholder
or


 






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Companion Loan Noteholder with respect to the purchase price therefor accepted by the Special Servicer or the Trustee.


 


(e)          Any sale of such Defaulted Loan
shall be for cash only.


 


(f)          The parties hereto may sell
or purchase, or permit the sale or purchase of, a Serviced REO Property only on the terms and subject to the conditions set forth
in this Section 3.16 or as otherwise expressly provided in an applicable Intercreditor Agreement.


 


(g)         The Special Servicer shall use
reasonable efforts to solicit offers for each Serviced REO Property on behalf of the Certificateholders and, in the case of a Serviced
Whole Loan, the related Serviced Companion Loan Noteholders in such manner as will be reasonably likely to realize a fair price
within the time period provided for by Section 3.15(a) of this Agreement. The Special Servicer (with the consent of
the Directing Holder) shall accept the first cash offer received from any Person that constitutes a fair price for such Serviced
REO Property. Subject to Section 3.16(k), if the Special Servicer receives more than one cash offer that constitutes a fair
price for such Serviced REO Property during the period designated by the Special Servicer for receipt of offers, the Special Servicer
shall accept the highest price. If the Special Servicer determines, in its good faith and reasonable judgment, that it will be
unable to realize a fair price for any Serviced REO Property within the time constraints imposed by Section 3.15(a)
of this Agreement, then the Special Servicer (with the consent of the Directing Holder) shall dispose of such Serviced REO Property
upon such terms and conditions as the Special Servicer shall deem necessary and desirable to maximize the recovery thereon under
the circumstances and, in connection therewith, shall accept the highest outstanding cash offer, regardless of from whom received.


 


The Special Servicer shall give the
Trustee, the Certificate Administrator, the Master Servicer, the Operating Advisor, the Asset Representations Reviewer and the
Directing Holder, not less than ten Business Days’ prior written notice of its intention to sell any Serviced REO Property,
and notwithstanding anything to the contrary herein, neither the Trustee, in its individual capacity, nor any of its Affiliates
may make an offer for or purchase any Serviced REO Property pursuant to this Agreement.


 


(h)         Whether any cash offer constitutes
a fair price for any Serviced REO Property, as the case may be, shall be determined by the Special Servicer, if the highest offeror
is a Person other than an Interested Person, and by the Trustee, if the highest offeror is an Interested Person; provided,
that no offer from an Interested Person shall constitute a fair price unless it is the highest offer received. In determining
whether any offer received from an Interested Person represents a fair price for any such Serviced REO Property, the Trustee shall
be supplied with and shall rely on the most recent appraisal or Updated Appraisal conducted in accordance with this Agreement within
the preceding 9-month period or in the absence of any such appraisal, on a narrative appraisal prepared by an Independent MAI appraiser
selected by the Special Servicer if the Special Servicer or an Affiliate of the Special Servicer is not making an offer with respect
to a Serviced REO Property (or by the Master Servicer if the Special Servicer is making such an offer). The cost of any such Updated
Appraisal or narrative appraisal and any related costs and fees of the Trustee shall be covered by, and shall be reimbursable as,
a Servicing Advance. In determining whether any offer from a Person other than an Interested Person constitutes a fair price for
any such Serviced REO Property, the Special Servicer shall


 






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take into account (in addition to the results of any appraisal, updated
appraisal or narrative appraisal that it may have obtained pursuant to this Agreement within the prior 9 months), and in determining
whether any offer from an Interested Person constitutes a fair price for any such Serviced REO Property, any appraiser shall be
instructed to take into account, as applicable, among other factors, the period and amount of the occupancy level and physical
condition of the Mortgaged Property or Serviced REO Property, the state of the local economy and the obligation to dispose of any
Serviced REO Property within the time period specified in Section 3.15(a) of this Agreement. The Purchase Price (which,
in connection with the administration of a Serviced REO Property related to a Serviced Whole Loan, shall be construed and calculated
as if the loans in such Serviced Whole Loan together constitute a single Mortgage Loan thereunder) for any Serviced REO Property
shall in all cases be deemed a fair price. In addition, the Trustee shall be permitted to retain, at the expense of the related
Interested Person, an independent third party to determine such fair price and will be permitted to conclusively rely on the opinion
of such third party’s determination. Any costs and fees of the Trustee in connection with an offer by an Interested Person
and the Trustee’s duties therewith shall be paid in advance of any such determination by such Interested Person.


 


(i)          Subject to subsections (g)
and (h) above, the Special Servicer shall act on behalf of the Trustee (for the benefit of the Certificateholders and, in the case
of a Serviced Whole Loan, the related Serviced Companion Loan Noteholders) in negotiating and taking any other action necessary
or appropriate in connection with the sale of any Serviced REO Property, and the applicable collection of all amounts payable in
connection therewith. In connection therewith, the Special Servicer may charge for its own account prospective offerors, and may
retain, fees that approximate the Special Servicer’s actual costs in the preparation and delivery of information pertaining
to such sales or exchanging offers without obligation to deposit such amounts into the Collection Account or, in the case of any
Serviced Whole Loan, the applicable Serviced Whole Loan Collection Account. Any sale of a Serviced REO Property shall be final
and without recourse to the Trustee or the Trust Fund (except such recourse to the Trust Fund imposed by those representations
and warranties typically given in such transactions, any prorations applied thereto and any customary closing matters), and if
such sale is consummated in accordance with the terms of this Agreement, none of the Special Servicer, the Master Servicer, the
Depositor or the Trustee shall have any liability to any Certificateholder or Serviced Companion Loan Noteholder with respect to
the purchase price therefor accepted by the Special Servicer or the Trustee.


 


(j)          Any sale of a Serviced REO Property
shall be for cash only.


 


(k)          Notwithstanding any of the foregoing
paragraphs of this Section 3.16, the Special Servicer shall not be obligated to accept the highest cash offer if the
Special Servicer determines, (in consultation with the Directing Holder (unless a Consultation Termination Event exists) and, in
the case of a Serviced Whole Loan or an REO Property related to a Serviced Whole Loan, the related Companion Loan Noteholder(s)),
in accordance with the Servicing Standard, that rejection of such offer would be in the best interests of the Certificateholders
and, in the case of a Serviced Whole Loan, the related Serviced Companion Loan Noteholders (as a collective whole as if such Certificateholders
and, if applicable, Serviced Companion Loan Noteholders constituted a single lender and with respect to any Serviced Whole Loan
with a related Subordinate Companion Loan, taking into account the subordinate nature of such


 






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Subordinate Companion Loan), and
the Special Servicer may accept a lower cash offer (from any Person other than itself or its Affiliate) if it determines, in its
reasonable and good faith judgment, that acceptance of such offer would be in the best interests of the Certificateholders (for
example, if the prospective buyer making the lower offer is more likely to perform its obligations or the terms offered by the
prospective buyer making the lower offer are more favorable) and, in the case of a Serviced Whole Loan, the related Serviced Companion
Loan Noteholders (as a collective whole as if such Certificateholders and, if applicable, Serviced Companion Loan Noteholders constituted
a single lender) (and with respect to any Serviced Whole Loan with a related Subordinate Companion Loan, taking into account the
subordinate nature of such Subordinate Companion Loan).


 


(l)          With respect to each defaulted
Serviced Companion Loan, the Special Servicer shall generally have the right to sell such defaulted Serviced Companion Loan together
with the related Mortgage Loan pursuant to the terms of the related Intercreditor Agreement as if such Mortgage Loan and Serviced
Companion Loans were one whole loan on behalf of the Certificateholders and the related Serviced Companion Loan Noteholders. The
Special Servicer shall provide notice and other information required under the related Intercreditor Agreement to the applicable
Other Special Servicer as soon as practicable following its decision to attempt to sell, and prior to commencement or marketing
of, any Serviced Companion Loan. With respect to Serviced Whole Loans, the Special Servicer shall be required to obtain the consent
of any holder of a related Serviced Companion Loan prior to a sale of such Serviced Whole Loan, unless (i) such holder is the related
Borrower or an Affiliate or agent of the related Borrower or (ii) the Special Servicer delivers to such holders of the related
Serviced Companion Loans: (A) at least fifteen (15) Business Days’ prior written notice of any decision to attempt to sell
the related Serviced Whole Loan; (B) at least ten (10) days prior to the proposed sale date, a copy of each bid package (together
with any material amendments to such bid packages) received by the Special Servicer in connection with any such proposed sale;
(C) at least ten (10) days prior to the proposed sale date, a copy of the most recent appraisal for such Serviced Whole Loan, and
any documents in the servicing file reasonably requested by the holders of the applicable Serviced Companion Loans that are material
to the sale price of such Serviced Whole Loan; and (D) until the sale is completed, and a reasonable period of time (but not less
time than is afforded to other offerors and the Directing Holder) prior to the proposed sale date, all information and other documents
being provided to other offerors and all leases or other documents that are approved by the Special Servicer in connection with
the proposed sale. The holders of the Serviced Companion Loans (or, in any case, their respective representatives) shall be permitted
to submit an offer at any sale of such related Serviced Whole Loan; however, the related Borrower and its agents and Affiliates
shall not be permitted to submit an offer at such sale.


 


Section 3.17     Additional
Obligations of the Master Servicer and the Special Servicer; Inspections. (a) The Master Servicer (at its own expense)
(or, with respect to Specially Serviced Loans and Serviced REO Properties, the Special Servicer) shall inspect or cause to be
inspected each Mortgaged Property securing a Mortgage Loan (other than a Non-Serviced Mortgage Loan) that it is servicing at
such times and in such manner as is consistent with the Servicing Standard, but in any event shall inspect each Mortgaged
Property with a Stated Principal Balance (or in the case of a Mortgage Loan secured by more than one Mortgaged Property,
having an Allocated Loan Amount) of (A) $2,000,000 or more at least once every 12 months (commencing in 2017) and
(B) less than $2,000,000 at least once every 24 months


 






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(commencing in 2018), (or, in
each case, at such decreased frequency as each Rating Agency shall have provided a Rating Agency Confirmation relating to the
Certificates and Serviced Companion Loan Securities, if any); provided, that if a physical inspection has been performed
by the Special Servicer in the previous twelve (12) months and the Master Servicer has no knowledge of a material change in the
Mortgaged Property since such physical inspection, the Master Servicer will not be required to perform or cause to be performed,
such physical inspection; provided, further, that if any scheduled payment becomes more than sixty (60) days delinquent
on the related Mortgage Loan, the Special Servicer shall inspect or cause to be inspected the related Mortgaged Property as soon
as practicable after such Mortgage Loan becomes a Specially Serviced Loan and annually thereafter for so long as such Mortgage
Loan remains a Specially Serviced Loan. The reasonable cost of each such inspection performed in accordance with the Servicing
Standard by the Special Servicer shall be paid by the Master Servicer as a Servicing Advance; provided, that if such Advance
would be a Nonrecoverable Advance, then the cost of such inspections shall be an expense of the Trust payable out of general collections.
With respect to a Serviced Whole Loan, the costs described in the preceding sentence above that relate to the applicable Serviced
Whole Loan shall be paid out of amounts on deposit in the Serviced Whole Loan Collection Account related to such Serviced Whole
Loan (allocated in accordance with the expense allocation provision of the related Intercreditor Agreement). If funds in the applicable
Serviced Whole Loan Collection Account relating to a Serviced Whole Loan are insufficient, then any deficiency shall be paid from
amounts on deposit in the Collection Account; provided that the Master Servicer shall, after receiving payment from amounts
on deposit in the Collection Account, if any, (i) promptly notify the related Companion Loan Noteholder and (ii) use
commercially reasonable efforts to exercise on behalf of the Trust any rights under the related Intercreditor Agreement to obtain
reimbursement for a pro rata portion of such amount allocable to the related Serviced Companion Loans from the related
Companion Loan Noteholders. The Master Servicer or the Special Servicer, as applicable, shall prepare a written report of the
inspection describing, among other things, the condition of and any damage to the Mortgaged Property securing a Mortgage Loan
that it is servicing and specifying the existence of any material vacancies in such Mortgaged Property, any sale, transfer or
abandonment of such Mortgaged Property of which it has actual knowledge, any material adverse change in the condition of the Mortgaged
Property, or any visible material waste committed on applicable Mortgaged Property. The Master Servicer or Special Servicer, as
applicable, shall send such reports to the 17g-5 Information Provider (who shall promptly post such reports to the 17g-5 Information
Provider’s Website pursuant to Section 3.14(d) of this Agreement), the related Other 17g-5 Information Provider
(if any) and, upon request, to the Underwriters and the Initial Purchasers within 20 days of completion and receipt (by the
Master Servicer or Special Servicer, as applicable, or, if earlier, any sub-servicer on their behalf) of the inspection report,
each inspection report.


 


(b)          With respect to each Mortgage
Loan (other than a Non-Serviced Mortgage Loan) or Serviced Whole Loan, as applicable, the Master Servicer (or the Special Servicer,
in the case of a Specially Serviced Loan) shall exercise the Trustee’s rights, in accordance with the Servicing Standard,
with respect to the Manager under the related Loan Documents and Management Agreement, if any.


 


(c)          The Master Servicer shall deliver
all Compensating Interest Payments (other than the portion of any Compensating Interest Payment allocated to a Serviced Pari Passu


 






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Companion Loan) to the Certificate Administrator for deposit in the Lower-Tier REMIC Distribution Account on each Master Servicer
Remittance Date, without any right of reimbursement therefor. The Master Servicer shall deliver the portion of any Compensating
Interest Payment allocated to a Serviced Pari Passu Companion Loan to the holder of the Serviced Companion Loan on each Master
Servicer Remittance Date, without any right of reimbursement therefor.


 


(d)          The Master Servicer shall, as
to each Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced Whole Loan that is secured by the interest of the related
Borrower under a ground lease (or, with respect to a leasehold interest that is a space lease or an air rights lease, such space
lease or air rights lease), promptly (and in any event within 60 days) after the Closing Date notify the related ground lessor
of the transfer of such Mortgage Loan or Serviced Whole Loan to the Trust pursuant to this Agreement and inform such ground lessor
that any notices of default under the related ground lease (or, with respect to a leasehold interest that is a space lease or an
air rights lease, the related space lease or air rights lease) should thereafter be forwarded to the Master Servicer.


 


(e)          The Master Servicer shall, to
the extent consistent with the Servicing Standard and permitted by the related Loan Documents, not apply any funds with respect
to a Mortgage Loan or Serviced Whole Loan (whether arising in the form of a holdback, earnout reserve, cash trap or other similar
feature) to the prepayment of the related Mortgage Loan or Serviced Whole Loan prior to an event of default or reasonably foreseeable
event of default with respect to such Mortgage Loan or Serviced Whole Loan. Prior to an event of default or reasonably foreseeable
event of default any such amounts described in the immediately preceding sentence shall be held by the Master Servicer as additional
collateral for the related Mortgage Loan or Serviced Whole Loan.


 


Section 3.18     Authenticating
Agent. The Certificate Administrator may appoint an Authenticating Agent to execute and to authenticate Certificates. The
Authenticating Agent must be acceptable to the Depositor and must be a corporation organized and doing business under the
laws of the United States of America or any state, having a principal office and place of business in a state and city
acceptable to the Depositor, having a combined capital and surplus of at least $15,000,000, authorized under such laws to do
a trust business and subject to supervision or examination by federal or state authorities. The Certificate Administrator
shall serve as the initial Authenticating Agent.


 


Any corporation into which the Authenticating
Agent may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion
or consolidation to which the Authenticating Agent shall be party, or any corporation succeeding to the corporate agency business
of the Authenticating Agent, shall be the Authenticating Agent without the execution or filing of any paper or any further act
on the part of the Certificate Administrator or the Authenticating Agent.


 


The Authenticating Agent may at any
time resign by giving at least 30 days’ advance written notice of resignation to the Certificate Administrator, the
Trustee, the Depositor and the Master Servicer. The Certificate Administrator may at any time terminate the agency of the Authenticating
Agent by giving written notice of termination to the Authenticating Agent, the Depositor and the Master Servicer. Upon receiving
a notice of resignation or upon such a


 






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termination, or in case at any time the Authenticating Agent shall cease to be eligible
in accordance with the provisions of this Section 3.18, the Certificate Administrator may appoint a successor Authenticating
Agent, which shall be acceptable to the Depositor, and shall mail notice of such appointment to all Certificateholders. Any successor
Authenticating Agent upon acceptance of its appointment hereunder shall become vested with all the rights, powers, duties and responsibilities
of its predecessor hereunder, with like effect as if originally named as Authenticating Agent herein. No successor Authenticating
Agent shall be appointed unless eligible under the provisions of this Section 3.18.


 


The Authenticating Agent shall have
no responsibility or liability for any action taken by it as such at the direction of the Certificate Administrator. Any compensation
paid to the Authenticating Agent shall be an unreimbursable expense of the Certificate Administrator, as applicable.


 


Section 3.19     Appointment
of Custodians. The Certificate Administrator shall be the initial Custodian hereunder. The Certificate Administrator may
appoint one or more additional Custodians to hold all or a portion of the Mortgage Files on behalf of the Trustee and
otherwise perform the duties set forth in Article II, by entering into a Custodial Agreement with any Custodian
who is not the Depositor. The Certificate Administrator agrees to comply with the terms of each Custodial Agreement and to
enforce the terms and provisions thereof against the Custodian for the benefit of the Certificateholders. The Certificate
Administrator shall not be liable for any act or omission of the Custodian under the Custodial Agreement. Each Custodian
shall be a depository institution subject to supervision by federal or state authority, shall have a combined capital and
surplus of at least $10,000,000, shall have a long-term debt rating of at least “Baa2” from Moody’s,
“BBB” from Fitch and “A (low)” by DBRS. Each Custodial Agreement may be amended only as provided in Section
12.08 of this Agreement. Any compensation paid to the Custodian shall be an unreimbursable expense of the Certificate
Administrator. If the Custodian is an entity other than the Certificate Administrator, the Custodian shall maintain a
fidelity bond in the form and amount that are customary for securitizations similar to the securitization evidenced by this
Agreement. The Custodian shall be deemed to have complied with this provision if one of its Affiliates has such fidelity bond
coverage and, by the terms of such fidelity bond, the coverage afforded thereunder extends to the Custodian. In addition, the
Custodian shall keep in force during the term of this Agreement a policy or policies of insurance covering loss occasioned by
the errors and omissions of its officers and employees in connection with its obligations hereunder in the form and amount
that are customary for securitizations similar to the securitization evidenced by this Agreement. All fidelity bonds and
policies of errors and omissions insurance obtained under this Section 3.19 shall be issued by a
Qualified Insurer.


 


Section 3.20     Lock-Box
Accounts, Cash Collateral Accounts, Escrow Accounts and Reserve Accounts. The Master Servicer shall administer each
Lock-Box Account, Cash Collateral Account, Escrow Account and Reserve Account in accordance with the related Mortgage or Loan
Agreement, Cash Collateral Account Agreement or Lock-Box Agreement, if any relating to the Mortgage Loans (other than a
Non-Serviced Mortgage Loan) or Serviced Whole Loans it is servicing.


 


Section 3.21     Servicing
Advances. (a) The Master Servicer (or, to the extent provided in Section 3.21(c) of this Agreement, the
Trustee) to the extent specifically provided for


 






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in this Agreement, shall make any Servicing Advances as and to the extent
otherwise required pursuant to the terms hereof with respect to the Mortgage Loans (other than Non-Serviced Mortgage Loans)
or Serviced Whole Loans that it is servicing. For purposes of distributions to Certificateholders and compensation to the
Master Servicer, the Special Servicer or the Trustee, Servicing Advances shall not be considered to increase the Stated
Principal Balance of any such Mortgage Loan or Serviced Whole Loan, notwithstanding that the terms of such Mortgage Loan or
Serviced Whole Loans so provide.


 


(b)          Notwithstanding anything in
this Agreement to the contrary, the Special Servicer shall give the Master Servicer not less than five Business Days’ written
notice with respect to any Servicing Advance to be made on any Specially Serviced Loan, before the date on which the Master Servicer
is required to make such Servicing Advance with respect to such Specially Serviced Loan or Serviced REO Loan; provided,
that the Special Servicer shall be required to provide the Master Servicer with only two Business Days’ written notice in
respect of Servicing Advances required to be made on an urgent or emergency basis (which may include, without limitation, Servicing
Advances required to make tax or insurance payments). If the Master Servicer or the Trustee makes a Servicing Advance with respect
to any Serviced Whole Loan then it shall provide written notice to the related Other Servicer, Other Special Servicer and Other
Trustee of the amount of such Servicing Advance with respect to such Serviced Whole Loan as part of its monthly report following
the making of such Servicing Advance.


 


(c)          The Master Servicer shall notify
the Trustee and the Certificate Administrator in writing promptly upon, and in any event within one Business Day after, becoming
aware that it will be unable to make any Servicing Advance required to be made pursuant to the terms hereof, and in connection
therewith, shall set forth in such notice the amount of such Servicing Advance, the Person to whom it is to be paid, and the circumstances
and purpose of such Servicing Advance, and shall set forth therein information and instructions for the payment of such Servicing
Advance, and, on the date specified in such notice for the payment of such Servicing Advance, or, if the date for payment has passed
or if no such date is specified, then within five Business Days following such notice, the Trustee, subject to the provisions of
Section 3.21(d) of this Agreement, shall pay the amount of such Servicing Advance in accordance with such information
and instructions.


 


(d)          The Special Servicer shall promptly
furnish any party required to make Servicing Advances hereunder with any information in its possession regarding the Specially
Serviced Loans and REO Properties as such party required to make Servicing Advances may reasonably request for purposes of making
recoverability determinations. Notwithstanding anything to the contrary in this Agreement, the Special Servicer shall have no obligation
to make an affirmative determination that any Advance is, or would be, a Nonrecoverable Advance, and in the absence of a determination
by the Special Servicer that such an Advance is a Nonrecoverable Advance, then all such decisions shall remain with the Master
Servicer or Trustee, as applicable.


 


Notwithstanding anything herein to
the contrary, no Servicing Advance shall be required hereunder if the Person otherwise required to make such Servicing Advance
determines that such Servicing Advance would, if made, constitute a Nonrecoverable Servicing Advance. In addition, the Master Servicer
shall not make any Servicing Advance to the extent that it has received written notice that the Special Servicer has determined
(if no Consultation Termination


 






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Event has occurred, in consultation with the Directing Holder) that such Servicing Advance would,
if made, constitute a Nonrecoverable Servicing Advance. In making such recoverability determination, such Person will be entitled
to (i) give due regard to the existence of any Nonrecoverable Advance or Workout-Delayed Reimbursement Amount with respect
to other Mortgage Loans, the recovery of which, at the time of such consideration, is being deferred or delayed by the Master Servicer
or the Trustee, as applicable, in light of the fact that proceeds on the related Mortgage Loan (or the related Serviced Whole Loan,
as applicable) are a source of recovery not only for the Servicing Advance under consideration, but also as a potential source
of recovery of such Nonrecoverable Advance or Workout-Delayed Reimbursement Amount which is being or may be deferred or delayed
and (ii) consider (among other things) the obligations of the Borrower under the terms of the related Mortgage Loan (or the
related Serviced Whole Loan, as applicable) as it may have been modified, (iii) consider (among other things) the related
Mortgaged Properties in their “as is” or then current conditions and occupancies, as modified by such party’s
assumptions (consistent with the Servicing Standard in the case of the Master Servicer or the Special Servicer) regarding the possibility
and effects of future adverse changes with respect to such Mortgaged Properties, (iv) estimate and consider (consistent with
the Servicing Standard in the case of the Master Servicer or the Special Servicer) (among other things) future expenses and (v) estimate
and consider (among other things) the timing of recoveries.


 


The Master Servicer, the Special Servicer
and the Trustee, as applicable, shall consider Unliquidated Advances in respect of prior Servicing Advances for purposes of nonrecoverability
determinations as if such Unliquidated Advances were unreimbursed Servicing Advances. If an Appraisal of the related Mortgaged
Property shall not have been obtained within the prior 9 month period (and the Master Servicer and the Trustee shall each request
any such appraisal from the Special Servicer prior to ordering an Appraisal pursuant to this sentence) or if such an Appraisal
shall have been obtained but as a result of unforeseen occurrences, such Appraisal does not, in the good faith determination of
the Master Servicer, the Special Servicer or the Trustee, reflect current market conditions, and the Master Servicer or the Trustee,
as applicable, and the Special Servicer cannot agree on the appropriate downward adjustment to such Appraisal, the Master Servicer,
the Special Servicer or the Trustee, as the case may be, may, subject to its reasonable and good faith determination that such
Appraisal will demonstrate the nonrecoverability of the related Advance, obtain an Appraisal for such purpose at the expense of
the Trust Fund (and, in the case of any Serviced Whole Loan, such expense shall be allocated in accordance with the allocation
provisions of the related Intercreditor Agreement).


 


Any determination by the Master Servicer,
Special Servicer or the Trustee that the Master Servicer or Trustee, as the case may be, has made a Servicing Advance that is a
Nonrecoverable Servicing Advance or any determination by the Master Servicer, the Special Servicer or the Trustee that any proposed
Servicing Advance, if made, would constitute a Nonrecoverable Servicing Advance shall be evidenced in the case of the Master Servicer
or the Special Servicer by a certificate of a Servicing Officer delivered to the other, to the Trustee, the Directing Holder (but
only if no Consultation Termination Event has occurred and is continuing), the Operating Advisor, the Certificate Administrator,
any related Companion Loan holder(s) and the Depositor and, in the case of the Trustee, by a certificate of a Responsible Officer
of the Trustee, delivered to the Depositor, the Directing Holder (but only if no Consultation Termination Event has occurred and
is continuing), the Operating Advisor, the Certificate


 






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Administrator, any related Companion Loan holder(s), the Master Servicer
and the Special Servicer, which in each case sets forth such nonrecoverability determination and the considerations of the Master
Servicer, the Special Servicer or the Trustee, as applicable, forming the basis of such determination (such certificate accompanied
by, to the extent available, income and expense statements, rent rolls, occupancy status, property inspections and other information
used by the Master Servicer, the Special Servicer or the Trustee, as applicable, to make such determination, together with any
existing Appraisal or any Updated Appraisal); provided, that with respect to any Specially Serviced Loan, the Special Servicer
may, at its option, make a determination in accordance with the Servicing Standard, that any Servicing Advance previously made
or proposed to be made is nonrecoverable and shall deliver to the Master Servicer, the Certificate Administrator, the Directing
Holder (but only if no Consultation Termination Event has occurred and is continuing), the Operating Advisor, the Trustee, the
related Serviced Companion Loan Noteholder (if any) and the 17g-5 Information Provider (who shall promptly post such notice to
the 17g-5 Information Provider’s Website pursuant to Section 3.14(d) of this Agreement), notice of such determination.
Any such determination may be relied upon by but shall not be binding on the Master Servicer, the Special Servicer and the Trustee.
Notwithstanding the foregoing, the Special Servicer shall have no obligation to make an affirmative determination that any Advance
is, or would be, a Nonrecoverable Advance, and in the absence of a determination by the Special Servicer that such an Advance is
a Nonrecoverable Advance, then all such decisions shall remain with the Master Servicer or the Trustee, as applicable. If the Special
Servicer makes a determination that only a portion, and not all, of any previously made or proposed Servicing Advance is a Nonrecoverable
Servicing Advance, the Master Servicer and the Trustee shall each have the right to make its own subsequent determination that
any remaining portion of any such previously made or proposed Servicing Advance is a Nonrecoverable Servicing Advance.


 


Any such Person may update or change
its recoverability determinations at any time (but not reverse any other Person’s determination or prohibit any such other
authorized Person from making a determination, that a Servicing Advance is a Nonrecoverable Advance) and (consistent with the Servicing
Standard in the case of the Master Servicer or the Special Servicer) may obtain, at the expense of the Trust (and, in the case
of a Serviced Whole Loan, such expense shall be allocated in accordance with the allocation provisions of the related Intercreditor
Agreement), any analysis, Appraisals or market value estimates or other information for such purposes. Absent bad faith, any such
determination as to the recoverability of any Servicing Advance shall be conclusive and binding on the Certificateholders and the
Serviced Companion Loan Noteholders.


 


The Trustee, in determining whether
or not a Servicing Advance previously made is, or a proposed Servicing Advance, if made, would be, a Nonrecoverable Servicing Advance
shall use its reasonable judgment.


 


With respect to the payment of insurance
premiums and delinquent tax assessments, in the event that the Master Servicer determines that a Servicing Advance of such amounts
would constitute a Nonrecoverable Advance, the Master Servicer shall deliver notice of such determination to the Trustee, the Certificate
Administrator and the Special Servicer. Upon receipt of such notice, the Master Servicer (with respect to any Mortgage Loan (other
than a Non-Serviced Mortgage Loan) or Serviced Whole Loan that is a Performing Loan) and the


 






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Special Servicer (with respect to
any Specially Serviced Loan or REO Property) shall determine (with the reasonable assistance of the Master Servicer) whether the
payment of such amount (i) is necessary to preserve the related Mortgaged Property and (ii) would be in the best interests
of the Certificateholders and, in the case of any Serviced Companion Loans, the related Serviced Companion Loan Noteholders (as
a collective whole as if such Certificateholders and, if applicable, Serviced Companion Loan Noteholders constituted a single lender
(and with respect to any Serviced Whole Loan with a related Subordinate Companion Loan, taking into account the subordinate nature
of such Subordinate Companion Loan)). If the Master Servicer or the Special Servicer determines that the payment of such amount
(i) is necessary to preserve the related Mortgaged Property and (ii) would be in the best interests of the Certificateholders
and, in the case of any Serviced Companion Loan, the related Serviced Companion Loan Noteholder, the Special Servicer (in the case
of a determination by the Special Servicer) shall direct the Master Servicer in writing to make such payment and the Master Servicer
shall make such payment, to the extent of available funds, from amounts in the Collection Account or, if a Serviced Whole Loan
is involved, from amounts in the applicable Serviced Whole Loan Collection Account.


 


Notwithstanding anything to the contrary
contained in this Section 3.21, the Master Servicer may elect (but shall not be required) to make a payment out
of the Collection Account to pay for certain expenses specified in this sentence notwithstanding that the Master Servicer has determined
that a Servicing Advance with respect to such expenditure would be a Nonrecoverable Servicing Advance (unless, with respect to
Specially Serviced Loans or Serviced REO Loans, the Special Servicer has notified the Master Servicer to not make such expenditure),
where making such expenditure would prevent (i) the related Mortgaged Property from being uninsured or being sold at a tax
sale or (ii) any event that would cause a loss of the priority of the lien of the related Mortgage, or the loss of any security
for the related Mortgage Loan; provided that in each instance, the Master Servicer determines in accordance with the Servicing
Standard (as evidenced by a certificate of a Servicing Officer delivered to the Trustee and the Certificate Administrator) that
making such expenditure is in the best interests of the Certificateholders and, in the case of a Serviced Whole Loan, the related
Serviced Companion Loan Noteholders (as a collective whole as if such Certificateholders and, if applicable, Serviced Companion
Loan Noteholders constituted a single lender (and with respect to any Serviced Whole Loan with a related Subordinate Companion
Loan, taking into account the subordinate nature of such Subordinate Companion Loan)). The Master Servicer may elect to obtain
reimbursement of Nonrecoverable Servicing Advances from the Trust Fund in accordance with Section 3.06 of this Agreement.


 


(e)          The Master Servicer and/or the
Trustee, as applicable, shall be entitled to the reimbursement of Servicing Advances made by any of them to the extent permitted
pursuant to Section 3.06 of this Agreement, if applicable, together with any related Advance Interest Amount in respect
of such Servicing Advances, and the Master Servicer, the Special Servicer and the Trustee each hereby covenants and agrees to promptly
seek and effect the reimbursement of such Servicing Advances from the related Borrowers to the extent permitted by applicable law
and the related Loan Documents.


 


The parties acknowledge that, pursuant
to the applicable Other Pooling and Servicing Agreement, the applicable Other Servicer is obligated to make Servicing Advances


 






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with respect to the related Non-Serviced Mortgage Loan. The Other Servicer, the Other Special Servicer (to the extent it has made
an advance), the Other Trustee or fiscal agent or other Persons making advances under the applicable Other Pooling and Servicing
Agreement shall be entitled to reimbursement in accordance with Section 3.06(b) of this Agreement for the pro rata
portion (based on Stated Principal Balance) of the related Mortgage Loan (after amounts allocated to the related Subordinate Companion
Loan, if any) with respect to any Servicing Advance that is nonrecoverable (with, in each case, any pro rata portion of
accrued and unpaid interest thereon provided for under the Other Pooling and Servicing Agreement) in the manner set forth in the
Other Pooling and Servicing Agreement and the related Intercreditor Agreement, as applicable.


 


With respect to any Serviced Whole
Loan, if the Master Servicer, the Special Servicer or Trustee, as applicable, determines that a proposed Servicing Advance with
respect to such Serviced Whole Loan, if made, or any outstanding Servicing Advance with respect to any such Mortgage Loan previously
made, would be, or is, as applicable, a Nonrecoverable Advance, the Master Servicer or Trustee, as applicable, shall provide the
Other Servicer, Other Special Servicer and the Other Trustee under each related Other Pooling and Servicing Agreement with written
notice of such determination, together with supporting evidence for such determination within two (2) Business Days after such
determination or such longer time period permitted by the applicable Intercreditor Agreement.


 


Section 3.22     Appointment
and Replacement of Special Servicer. (a) Midland Loan Services, a Division of PNC Bank, National Association is hereby
appointed as the initial Special Servicer to service each Specially Serviced Loan.


 


(b)          For so long as no Control Termination
Event has occurred and is continuing, the Directing Holder shall be entitled to terminate the rights (subject to Section 3.05,
Section 3.12 and Section 6.03(a) of this Agreement) and obligations of the Special Servicer under this
Agreement, with or without cause, and appoint a successor Special Servicer pursuant to Section 7.02 of this Agreement,
upon ten (10) Business Days’ notice to the Special Servicer, the Master Servicer, the Paying Agent, the Certificate Administrator,
the Operating Advisor, the Asset Representations Reviewer and the Trustee; provided that, with respect to any Serviced Whole
Loan, the related Directing Holder’s right to terminate the rights and obligations of the Special Servicer under this Agreement
with respect to such Serviced Whole Loan shall be subject to the limitations set forth in the related Intercreditor Agreement;
provided, further that with respect to a Servicing Shift Whole Loan, the limitations on termination without cause
set forth in clause (b) shall not apply to the related Loan-Specific Directing Holder’s right to terminate the Special
Servicer’s rights and obligations under this Agreement without cause with respect to such Servicing Shift Whole Loan pursuant
to the terms of the related Intercreditor Agreement.


 


(c)          Following the occurrence of
a Consultation Termination Event, subject to the immediately succeeding paragraph, if the Operating Advisor determines that the
Special Servicer is not performing its duties as required hereunder or is otherwise not acting in accordance with the Servicing
Standard, the Operating Advisor shall deliver to the Trustee and to the Certificate Administrator, with a copy to the Special Servicer,
a written report setting forth the reasons supporting its recommendation (along with any information the Operating Advisor considered
relevant to its recommendation) and recommending a replacement special servicer; provided, that in no event shall the information
or any other content included in such written


 






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recommendation contravene any provision of this Agreement. In such event, the Certificate
Administrator shall promptly post notice to all Certificateholders of such recommendation and the related report on the Certificate
Administrator’s Website, and by mail (or through the DTC system, as applicable), and shall conduct the solicitation of votes
of all Certificates in such regard. Subsequently, upon (i) the written direction of Holders of Sequential Pay Certificates
evidencing at least a majority of the aggregate Voting Rights (taking into account the application of any Realized Losses and Appraisal
Reduction Amounts to notionally reduce the respective Certificate Balances) (which vote shall occur not more than 180 days
from the date the Certificate Administrator posts such recommendation on the Certificate Administrator’s Website; provided
that if such written direction is not provided within 180 days of the posting of the initial request for a vote to terminate
and replace the Special Servicer, then such written direction shall have no force and effect) and (ii) receipt of a Rating
Agency Confirmation from each Rating Agency with respect to the Certificates and, if such successor Special Servicer shall also
specially service a Serviced Whole Loan, any class of related Serviced Companion Loan Securities, by the Trustee following satisfaction
of the foregoing clause (i), the Trustee shall (x) terminate all of the rights and obligations of the Special Servicer
under this Agreement and appoint a successor Special Servicer approved by the Certificateholders; provided such termination
is subject to the terminated Special Servicer’s rights to indemnification, payment of outstanding fees and other compensation,
reimbursement of advances and other rights set forth in this Agreement which survive termination and (y) promptly notify such
outgoing Special Servicer of the effective date of such termination. The reasonable out-of-pocket costs and expenses associated
with administering such vote shall be an Additional Trust Fund Expense. If the Trustee does not receive at least 50% of the requested
votes, then the Trustee shall not remove the Special Servicer. Prior to the appointment of any replacement special servicer, such
replacement special servicer shall have agreed to succeed to the obligations of the Special Servicer under this Agreement and to
act as the Special Servicer’s successor hereunder. No penalty or fee shall be payable to the terminated Special Servicer
with respect to any termination pursuant to this Section 3.22(c).


 


(d)          If a Control Termination Event
has occurred and is continuing and upon (a) the written direction of holders of Sequential Pay Certificates evidencing not
less than 25% of the Voting Rights (taking into account the application of any Appraisal Reduction Amounts to notionally reduce
the Certificate Balances of the Certificates pursuant to Section 4.08 of this Agreement) of the Sequential Pay Certificates
requesting a vote to replace the Special Servicer with a new special servicer designated in such written direction, (b) payment
by such holders to the Certificate Administrator of the reasonable fees and expenses (including any legal fees and expenses and
any Rating Agency fees and expenses) to be incurred by the Certificate Administrator in connection with administering such vote
and (c) delivery by such holders to the Certificate Administrator and the Trustee of a Rating Agency Confirmation from each
Rating Agency with respect to the Certificates and, if such successor Special Servicer shall also specially service a Serviced
Whole Loan, any class of related Serviced Companion Loan Securities, the Certificate Administrator shall promptly provide written
notice to all Certificateholders of such request by posting such notice on the Certificate Administrator’s Website, and by
mail (or through the DTC system, as applicable), and conduct the solicitation of votes of all Certificates in such regard. Subsequently,
if a Control Termination Event has occurred and is continuing, upon the written direction of (i) holders of Sequential Pay
Certificates evidencing at least 50% of a Certificateholder Quorum of Certificates or (ii) holders


 






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of Non-Reduced Certificates
evidencing more than 50% of the Voting Rights of each Class of Non-Reduced Certificates, the Trustee shall (x) terminate all
of the rights and obligations of the Special Servicer under this Agreement and appoint the successor Special Servicer designated
by such Certificateholders, provided such termination is subject to the terminated Special Servicer’s rights to indemnification,
payment of outstanding fees and other compensation, reimbursement of advances and other rights set forth in this Agreement which
survive termination and (y) promptly notify such outgoing Special Servicer of the effective date of such termination; provided
that if such written direction is not provided within 180 days of the notice from the Certificate Administrator of the request
for a vote to terminate and replace the Special Servicer, then such written direction shall have no force and effect. The reasonable
fees and out-of-pocket costs associated with administering such vote shall be an Additional Trust Fund Expense. The Certificate
Administrator shall include on each Distribution Date Statement a statement that each Certificateholder and Certificate Owner may
access notices on the Certificate Administrator’s Website and each Certificateholder and Certificate Owner may register to
receive email notifications when such notices are posted on the Certificate Administrator’s Website; provided that
the Certificate Administrator shall be entitled to reimbursement from the requesting Certificateholders for the reasonable expenses
of posting such notices.


 


(e)          The Trustee shall, promptly
after receiving any removal notice pursuant to Section 3.22(b) of this Agreement or direction to terminate pursuant
to Section 3.22(c) or Section 3.22(d) of this Agreement, so notify the Certificate Administrator, the related
Serviced Companion Loan Noteholder (if any) and the 17g-5 Information Provider (who shall promptly post such notice to the 17g-5
Information Provider’s Website pursuant to Section 3.14(d) of this Agreement). The termination of the Special
Servicer and appointment of a successor Special Servicer pursuant to this Section 3.22 shall not be effective until
(i) the Trustee receives from each Rating Agency a Rating Agency Confirmation and, if such successor Special Servicer shall
also specially service a Serviced Whole Loan, a Serviced Companion Loan Rating Agency Confirmation, (ii) the successor special
servicer has assumed all of its responsibilities, duties and liabilities hereunder pursuant to a writing reasonably satisfactory
to the Trustee, (iii) receipt by the Trustee of an Opinion of Counsel to the effect that (x) the designation of such
replacement to serve as Special Servicer is in compliance with this Agreement, (y) such replacement will be bound by the terms
of this Agreement and (z) this Agreement will be enforceable against such replacement in accordance with its terms, (iv) the
replacement Special Servicer certifies that such replacement special servicer satisfies all related qualifications set forth in
the Intercreditor Agreement relating to such Serviced Companion Loan and (v) receipt by the Certificate Administrator (with
a confirmation of such receipt delivered to the Trustee) of notice and information required to be delivered by the successor Special
Servicer under Section 10.03 of this Agreement. Any successor Special Servicer shall make the representations and warranties
provided for in Section 2.04(b) of this Agreement mutatis mutandis. Further, such successor Special Servicer
shall be a Person that (i) satisfies all of the eligibility requirements applicable to the special servicer contained in this
Agreement, (ii) is not the Operating Advisor or former operating advisor, the Asset Representations Reviewer or former asset representations
reviewer, or an affiliate of any of the foregoing, (iii) is not obligated or allowed to pay the Operating Advisor any fees
or otherwise compensate the Operating Advisor (x) in respect of its obligations under this Agreement or (y) for the appointment
of the successor Special Servicer or the recommendation by the Operating Advisor for the replacement Special Servicer to become
the Special Servicer, (iv) is not entitled to receive any compensation from the Operating Advisor


 






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other than compensation
that is not material and is unrelated to the Operating Advisor’s recommendation that such party be appointed as the replacement
special servicer, (v) is not entitled to receive any fee from the Operating Advisor for its appointment as successor Special
Servicer, in each case, unless expressly approved by 100% of the Certificateholders, (vi) is not a special servicer that has been
cited by Moody’s as having servicing concerns as the sole or material factor in any qualification, downgrade or withdrawal
of the ratings (or placement on “watch status” in contemplation of a ratings downgrade or withdrawal) of securities
in a transaction serviced by the applicable servicer prior to the time of determination, (vii) currently has a special servicer
rating of at least “CSS3” from Fitch, and (viii) is currently acting as a special servicer in a transaction rated by
DBRS and has not been cited by DBRS as having servicing concerns as the sole or a material factor in any qualification, downgrade
or withdrawal of the ratings (or placement on “watch status” in contemplation of a ratings downgrade or withdrawal)
of securities in a transaction serviced by the applicable servicer prior to the time of determination. In addition, any replacement
Special Servicer that will service any Serviced Whole Loan shall meet any requirements specified in the related Intercreditor Agreement
or, if applicable, the related Other Pooling and Servicing Agreement.


 


The existing Special Servicer shall
be deemed to have been removed simultaneously with such designated Person’s becoming the Special Servicer hereunder; provided,
that the Special Servicer removed pursuant to this Section shall be entitled to receive, and shall have received, all amounts
accrued or owing to it under this Agreement on or prior to the effective date of such resignation and it shall continue to be entitled
to any rights that accrued prior to the date of such resignation (including the right to receive all fees, expenses and other amounts
accrued or owing to it under this Agreement, plus the right to receive any Workout Fee specified in Section 3.12(c)
of this Agreement if the Special Servicer is terminated and any indemnification rights that the Special Servicer is entitled to
pursuant to Section 6.03(a) of this Agreement) notwithstanding any such removal. Such removed Special Servicer shall
cooperate with the Trustee and the replacement Special Servicer in effecting the termination of the resigning Special Servicer’s
responsibilities and rights hereunder, including without limitation the transfer within two Business Days to the successor Special
Servicer for administration by it of all cash amounts that are thereafter received with respect to the Mortgage Loans and, if applicable,
Whole Loans.


 


(f)          The appointment of any such
successor Special Servicer shall not relieve the Master Servicer or the Trustee of their respective obligations to make Advances
as set forth herein; provided, that neither the Trustee nor the Master Servicer shall be liable for any actions or any inaction
of such successor Special Servicer. Any termination fee payable to the terminated Special Servicer (and it is acknowledged that
there is no such fee payable in the event of a termination for breach of this Agreement) shall be paid by the Certificateholders
or the Directing Holder, as applicable, so terminating the Special Servicer and shall not in any event be an expense of the Trust
Fund or any Serviced Companion Loan Noteholder (unless such Serviced Companion Loan Noteholder is the Directing Holder).


 


(g)          If a replacement special servicer
is appointed with respect to a Serviced Whole Loan or any related Serviced REO Property in accordance with this Section 3.22
such that there are multiple parties acting as Special Servicer hereunder, then, unless the context clearly requires otherwise:
(i) when used in the context of imposing duties and obligations on the


 






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Special Servicer hereunder or the performance of such
duties and obligations, the term “Special Servicer” shall mean the applicable Serviced Whole Loan Special Servicer,
insofar as such duties and obligations relate to the subject Serviced Whole Loan or any related Serviced REO Property, and shall
mean the General Special Servicer (as defined below in clause (h)), in all other cases (provided, that in Section 3.14
and Article VII of this Agreement, the term “Special Servicer” shall mean each of the Serviced Whole Loan Special
Servicers and the General Special Servicer); (ii) when used in the context of identifying the recipient of any information,
funds, documents, instruments and/or other items, the term “Special Servicer” shall mean the applicable Serviced Whole
Loan Special Servicer, insofar as such information, funds, documents, instruments and/or other items relate to the subject Serviced
Whole Loan or any related Serviced REO Property, and shall mean the General Special Servicer, in all other cases; (iii) when
used in the context of granting the Special Servicer the right to purchase Defaulted Loans pursuant to Section 3.16
of this Agreement, the term “Special Servicer” shall mean the General Special Servicer only; (iv) when
used in the context of granting the Special Servicer the right to purchase all of the Mortgage Loans and all other property held
by the Trust Fund pursuant to Section 9.01 of this Agreement, the term “Special Servicer” shall mean the
General Special Servicer only; (v) when used in the context of the Special Servicer being replaced pursuant to this Section 3.22
by the applicable Directing Holder, the term “Special Servicer” shall mean the General Special Servicer or the
Serviced Whole Loan Special Servicer, if applicable; (vi) when used in the context of granting the Special Servicer any protections,
limitations on liability, immunities and/or indemnities hereunder, the term “Special Servicer” shall mean each of the
Serviced Whole Loan Special Servicers and the General Special Servicer; and (vii) when used in the context of requiring indemnification
from, imposing liability on, or exercising any remedies against, the Special Servicer for any breach of a representation, warranty
or covenant hereunder or for any negligence, bad faith or willful misconduct in the performance of duties and obligations hereunder
or any negligent disregard of such duties and obligations or otherwise holding the Special Servicer responsible for any of the
foregoing, the term “Special Servicer” shall mean the applicable Serviced Whole Loan Special Servicer or the General
Special Servicer, as applicable.


 


(h)          References in this Section 3.22
to “General Special Servicer” mean the Person performing the duties and obligations of special servicer with respect
to the Mortgage Pool (exclusive of any Whole Loan or related REO Property as to which a different Serviced Whole Loan Special Servicer
has been appointed with respect thereto).


 


(i)          No penalty or fee shall be payable
to the terminated Special Servicer with respect to any termination pursuant to this Section 3.22. All costs and expenses
of any such termination made without cause shall be paid by the Controlling Class Certificateholders.


 


(j)          Notwithstanding anything to
the contrary contained in this Section 3.22, with respect to any Excluded Special Servicer Mortgage Loan, if any, the
Special Servicer shall resign with respect to such Excluded Special Servicer Mortgage Loan.


 


In the event the Special Servicer is
required to resign as Special Servicer with respect to any Excluded Special Servicer Mortgage Loan because it obtains knowledge
that it is a Borrower Party prior to the occurrence and continuance of a Consultation Termination Event, then (i) if the Excluded
Special Servicer Mortgage Loan is not also an Excluded Mortgage Loan, then the Controlling Class Representative shall appoint (and
replace with or without cause) the


 






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Excluded Special Servicer, as successor to the resigning Special Servicer, in accordance with
this Agreement for the Excluded Special Servicer Mortgage Loan, (ii) if the Excluded Special Servicer Mortgage Loan is also an
Excluded Mortgage Loan, then the largest Controlling Class Certificateholder (by Certificate Balance) that is not an Excluded Controlling
Class Holder shall appoint (and replace with or without cause) the Excluded Special Servicer for the Excluded Special Servicer
Mortgage Loan, and (iii) if there is no Controlling Class Certificateholder that is not an Excluded Controlling Class Certificateholder,
then the Excluded Special Servicer shall be appointed as described in the following paragraph.


 


In the event the Special Servicer is
required to resign as Special Servicer with respect to any Excluded Special Servicer Mortgage Loan because it obtains knowledge
that it is a Borrower Party and either (i) a Consultation Termination Event has occurred and is continuing or (ii) there is no
Controlling Class Certificateholder that is not an Excluded Controlling Class Holder, then, at the expense of the Trust Fund, the
Certificate Administrator shall promptly provide written notice of such resignation to all Certificateholders by posting such notice
on the Certificate Administrator’s Website and the Excluded Special Servicer shall be appointed upon the written direction
of more than 50% of the Voting Rights of the Certificates that exercise their right to vote (provided that holders of at least
20% of the Voting Rights of the Certificates exercise their right to vote). If such Excluded Special Servicer has not been appointed
pursuant to the preceding sentence within 30 days after the Special Servicer has provided its written notice of resignation, the
Certificate Administrator shall provide written notice to the resigning Special Servicer that such Excluded Special Servicer has
not been appointed and such resigning Special Servicer shall use reasonable efforts to appoint such Excluded Special Servicer.
The Special Servicer shall not have any liability with respect to the actions or inactions of the applicable Excluded Special Servicer
or with respect to the identity of the applicable Excluded Special Servicer.


 


If at any time the Special Servicer
that had acted as the Special Servicer for an Excluded Special Servicer Mortgage Loan prior to it becoming an Excluded Special
Servicer Mortgage Loan is no longer a Borrower Party (including, without limitation, as a result of the related Mortgaged Property
becoming REO Property) with respect to an Excluded Special Servicer Mortgage Loan, (1) the related Excluded Special Servicer shall
resign, (2) the related Mortgage Loan shall no longer be an Excluded Special Servicer Mortgage Loan, (3) such Special Servicer
shall become the Special Servicer again for such related Mortgage Loan and (4) such original Special Servicer shall be entitled
to all special servicing compensation with respect to such Mortgage Loan earned during such time on and after such Mortgage Loan
is no longer an Excluded Special Servicer Mortgage Loan.


 


The Excluded Special Servicer shall
perform all of the obligations of the Special Servicer for the related Excluded Special Servicer Mortgage Loan and will be entitled
to all special servicing compensation with respect to such Excluded Special Servicer Mortgage Loan earned during such time as the
related Mortgage Loan is an Excluded Special Servicer Mortgage Loan (provided that the Special Servicer shall remain entitled to
all other special servicing compensation with respect all Mortgage Loans and Serviced Whole Loans that are not Excluded Special
Servicer Mortgage Loans during such time).


 


If a Servicing Officer or Special Servicing
Officer, as applicable, of the Master Servicer, a related Excluded Special Servicer, or the Special Servicer, as applicable, has
actual


 






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knowledge that a Mortgage Loan is no longer an Excluded Mortgage Loan, an Excluded Controlling Class Mortgage Loan or an
Excluded Special Servicer Mortgage Loan, as applicable, the Master Servicer, the related Excluded Special Servicer or Special Servicer,
as applicable, shall provide prompt written notice thereof to each of the other parties to this Agreement.


 


(k)          No removal or replacement of the Special Servicer as contemplated by this Agreement shall become effective
until (i) a successor Special Servicer shall have assumed the resigning or terminated Special Servicer’s responsibilities,
duties, liabilities and obligations hereunder, (ii) the Certificate Administrator shall have filed any required Form 8-K pursuant
to Section 10.09, and (iii) any other
information required under Section 10.03 or Section 10.09 has been delivered to any applicable Other Depositor with
respect to any related Companion Loan.





 


Section 3.23     Transfer
of Servicing Between the Master Servicer and the Special Servicer; Record Keeping; Asset Status Report. (a) Upon the
occurrence of any event specified in the definition of Specially Serviced Loan with respect to any Mortgage Loan (other than
any Non-Serviced Mortgage Loan) or Serviced Whole Loan of which the Master Servicer may have notice, the Master Servicer
shall promptly give notice thereof to the Special Servicer, the Certificate Administrator, the Trustee, the Operating
Advisor, the related Mortgage Loan Seller, if no Consultation Termination Event has occurred, the Directing Holder and, if
applicable, the related Serviced Companion Loan Noteholders and shall use efforts in accordance with the Servicing Standard
to provide the Special Servicer with the Servicing File and all other information, documents (but excluding the original
documents constituting the Mortgage File) and records (including records stored electronically) relating to such Mortgage
Loan or Serviced Whole Loan, as applicable, and reasonably requested by the Special Servicer to enable it to assume its
duties hereunder with respect thereto without acting through a sub-servicer. The Master Servicer shall use efforts in
accordance with the Servicing Standard to comply with the preceding sentence within five Business Days of the date it has
notice of the occurrence of any event specified in the definition of Specially Serviced Loan and in any event shall continue
to act as Master Servicer and administrator of such Mortgage Loan or Serviced Whole Loan, until the Special Servicer has
commenced the servicing of such Mortgage Loan or Serviced Whole Loan, which shall occur upon the receipt by the Special
Servicer of the information, documents and records referred to in the preceding sentence. With respect to each Mortgage Loan
or Serviced Whole Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct the related Borrower to
continue to remit all payments in respect of such Mortgage Loan or Serviced Whole Loan to the Master Servicer. The Master
Servicer shall forward any notices it would otherwise send to the Borrower of a Specially Serviced Loan to the Special
Servicer, who shall send such notice to the related Borrower.


 


Upon determining that a Specially Serviced
Loan has become a Corrected Mortgage Loan, the Special Servicer shall immediately give notice thereof to the Master Servicer, and
upon giving such notice, such Mortgage Loan or Serviced Whole Loan shall cease to be a Specially Serviced Loan in accordance with
the first proviso of the definition of Specially Serviced Loan, the Special Servicer’s obligation to service such Mortgage
Loan or Serviced Whole Loan shall terminate and the obligations of the Master Servicer to service and administer such Mortgage
Loan or Serviced Whole Loan as a Mortgage Loan or Serviced Whole Loan that is a Performing Loan shall resume.


 






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(b)          In servicing any Specially Serviced
Loan, the Special Servicer shall provide to the Custodian originals of documents included within the definition of “Mortgage
File” for inclusion in the related Mortgage File (to the extent such documents are in the possession of the Special Servicer)
and copies of any additional related Mortgage Loan information, including correspondence with the related Borrower, and the Special
Servicer shall promptly provide copies of all of the foregoing to the Master Servicer as well as copies of any analysis or internal
review prepared by or for the benefit of the Special Servicer.


 


(c)          Not later than two Business
Days preceding each date on which the Master Servicer is required to furnish a report under Section 3.13(a) of this
Agreement to the Certificate Administrator, the Special Servicer shall deliver to the Certificate Administrator, with a copy to
the Trustee, the Operating Advisor and the Master Servicer, a written statement describing, on a loan by loan basis, (i) the
amount of all payments on account of interest received on each Specially Serviced Loan, the amount of all payments on account of
principal, including Principal Prepayments, on each Specially Serviced Loan, the amount of Net Insurance Proceeds and Net Liquidation
Proceeds received with respect to each Specially Serviced Loan, and with respect to REO Properties, the amount of net income or
net loss, as determined from management of a trade or business on, the furnishing or rendering of a non-customary service to the
tenants of, or the receipt of any rental income that does not constitute Rents from Real Property with respect to the Serviced
REO Property relating to each applicable Specially Serviced Loan, in each case in accordance with Section 3.15 of this
Agreement (it being understood and agreed that to the extent this information is provided in accordance with Section 3.13(g)
of this Agreement, this Section 3.23(c) shall be deemed to be satisfied) and (ii) such additional information
relating to the Specially Serviced Loans as the Master Servicer, the Certificate Administrator or the Trustee reasonably request,
to enable it to perform its duties under this Agreement. Such statement and information shall be furnished to the Master Servicer
in writing and/or in such electronic media as is acceptable to the Master Servicer.


 


(d)          Notwithstanding the provisions
of the preceding Section 3.23(c), the Master Servicer shall maintain ongoing payment records with respect to each of
the Specially Serviced Loans relating to a Mortgage Loan that it is servicing and shall provide the Special Servicer and the Operating
Advisor with any information reasonably required by the Special Servicer or the Operating Advisor to perform its duties under this
Agreement. The Special Servicer shall provide the Master Servicer with any information reasonably required by the Master Servicer
to perform its duties under this Agreement.


 


(e)          No later than 30 days after
a Mortgage Loan or Serviced Whole Loan becomes a Specially Serviced Loan, the Special Servicer shall deliver to the Master Servicer,
the Directing Holder (only if no Consultation Termination Event has occurred and is continuing), with respect to any related Serviced
Companion Loan, to the extent the related Serviced Companion Loan has been included in a securitization transaction, to the master
servicer of such securitization into which the related Serviced Companion Loan has been sold or to the holder of the related Serviced
Companion Loan, the Operating Advisor (but only if a Control Termination Event has occurred and is continuing), the Controlling
Class Representative (so long as such Mortgage Loan is not an Excluded Mortgage Loan), the 17g-5 Information Provider (who shall
promptly post such report to the 17g-5 Information Provider’s Website pursuant to Section 3.14(d) of this Agreement),
each related Serviced Companion Loan Noteholder, and


 






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upon request, the Underwriters and the Initial Purchasers, a report (the “Asset
Status Report”) with respect to such Mortgage Loan or Serviced Whole Loan and the related Mortgaged Property; provided,
the Special Servicer shall not be required to deliver an Asset Status Report to the Directing Holder if the Special Servicer and
the Directing Holder are the same entity. A summary of each Asset Status Report shall be provided to the Certificate Administrator
and the Trustee. Such Asset Status Report shall set forth the following information to the extent reasonably determinable:


 


(i)          summary of the
status of such Specially Serviced Loan and any negotiations with the related Borrower;


 


(ii)         a discussion
of the legal and environmental considerations reasonably known to the Special Servicer, consistent with the Servicing Standard,
that are applicable to the exercise of remedies as aforesaid and to the enforcement of any related guaranties or other collateral
for the related Mortgage Loan or Serviced Whole Loan and whether outside legal counsel has been retained;


 


(iii)        the most current
rent roll and income or operating statement available for the related Mortgaged Property;


 


(iv)        (A) the
Special Servicer’s recommendations on how such Specially Serviced Loan might be returned to performing status (including
the modification of a monetary term, and any workout, restructure or debt forgiveness) and returned to the Master Servicer for
regular servicing or foreclosed or otherwise realized upon (including any proposed sale of a Defaulted Loan or Serviced REO Property),
(B) a description of any such proposed or taken actions, and (C) the alternative courses of action that were or are being
considered by the Special Servicer in connection with the proposed or taken actions;


 


(v)         the status of
any foreclosure actions or other proceedings undertaken with respect to the Specially Serviced Mortgage Loan, any proposed workouts
and the status of any negotiations with respect to such workouts, and an assessment of the likelihood of additional defaults under
the related Mortgage Loan or Serviced Whole Loan;


 


(vi)        a description
of any amendment, modification or waiver of a material term of any ground lease (or, with respect to a leasehold interest that
is a space lease or an air rights lease, any such space lease or air rights lease) or franchise agreement;


 


(vii)       the decision
that the Special Servicer made, or intends or proposes to make, including a narrative analysis setting forth the Special Servicer’s
rationale for its proposed decision, including its rejection of the alternatives;


 


(viii)      an analysis
of whether or not taking such proposed action is reasonably likely to produce a greater recovery on a present value basis than
not taking such action, setting forth (x) the basis on which the Special Servicer made such determination and (y) the
net present value calculation (including the applicable Calculation Rate used) and all related assumptions;


 






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(ix)         the appraised
value of the related Mortgaged Property (and a copy of the last obtained Appraisal of such Mortgaged Property) together with a
description of any adjustments to the valuation of such Mortgaged Property made by the Special Servicer together with an explanation
of those adjustments; and


 


(x)          such other information
as the Special Servicer deems relevant in light of the Servicing Standard.


 


As provided in Section 3.12(d),
if a Servicing Shift Whole Loan becomes a Specially Serviced Loan prior to the applicable Servicing Shift Securitization Date,
the Special Servicer shall service and administer such Servicing Shift Whole Loan and related REO Property in the same manner as
any other Specially Serviced Loan or Serviced REO Property, shall be entitled to all Special Servicing Compensation earned with
respect to such Serviced Whole Loan and shall have all the rights and obligations with respect to such Serviced Whole Loan as Special
Servicer of such Serviced Whole Loan.


 


For so long as no Control Termination
Event has occurred and is continuing, if within 10 Business Days of receiving an Asset Status Report, the Directing Holder does
not disapprove such Asset Status Report in writing, the Directing Holder will be deemed to have approved such Asset Status Report
and the Special Servicer shall implement the recommended action as outlined in such Asset Status Report; provided, that
such Special Servicer may not take any action that is contrary to applicable law, this Agreement, the Servicing Standard (taking
into consideration the best interests of all the Certificateholders and, with respect to any Serviced Whole Loan, the related Serviced
Companion Loan Noteholders (as a collective whole as if such Certificateholders and, if applicable, Serviced Companion Loan Noteholders
constituted a single lender) (and with respect to any Serviced Whole Loan with a related Subordinate Companion Loan, taking into
account the subordinate nature of such Subordinate Companion Loan)), the terms of the applicable Loan Documents or any related
Intercreditor Agreement. For so long as no Control Termination Event has occurred and is continuing, if the Directing Holder disapproves
such Asset Status Report within such 10 Business Day period, the Special Servicer will revise such Asset Status Report and deliver
to the Directing Holder, the Master Servicer, the 17g-5 Information Provider (who shall promptly post such report to the 17g-5
Information Provider’s Website pursuant to Section 3.14(d) of this Agreement) and each related Serviced Companion
Loan Noteholder, a new Asset Status Report as soon as practicable, but in no event later than 30 days after such disapproval. The
Special Servicer shall revise such Asset Status Report as described above in this Section 3.23(e) until the Directing
Holder fails to disapprove such revised Asset Status Report in writing within 10 Business Days of receiving such revised Asset
Status Report or until the Special Servicer makes a determination consistent with the Servicing Standard, that such objection is
not in the best interests of all the Certificateholders and, with respect to any Serviced Whole Loan, the related Serviced Companion
Loan Noteholders (as a collective whole as if such Certificateholders and, if applicable, Serviced Companion Loan Noteholders constituted
a single lender and with respect to any Serviced Whole Loan with a related Subordinate Companion Loan, taking into account the
subordinate nature of such Subordinate Companion Loan)). In any event, for so long as no Control Termination Event has occurred
and is continuing, if the Directing Holder does not approve an Asset Status Report within 60 Business Days from the first submission
of an Asset Status Report, the Special Servicer may act upon the most recently submitted form of Asset Status Report if


 






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consistent
with the Servicing Standard. The Special Servicer may, from time to time, modify any Asset Status Report it has previously delivered
and implement such report, provided such report shall have been prepared, reviewed and not rejected pursuant to the terms
of this Section, and in particular, shall modify and resubmit such Asset Status Report to the Directing Holder (with a copy to
the Trustee and the Certificate Administrator) if (i) the estimated sales proceeds, foreclosure proceeds, workout or restructure
terms or anticipated debt forgiveness varies materially from the amount on which the original report was based or (ii) the
related Borrower becomes the subject of bankruptcy proceedings. Notwithstanding the foregoing, the Special Servicer (i) may,
following the occurrence of an extraordinary event with respect to the related Mortgaged Property, take any action set forth in
such Asset Status Report before the expiration of a 10 Business Day period if the Special Servicer has reasonably determined that
failure to take such action would materially and adversely affect the interests of the Certificateholders and, with respect to
any Serviced Whole Loan, the related Serviced Companion Loan Noteholders (as a collective whole as if such Certificateholders and,
if applicable, Serviced Companion Loan Noteholders constituted a single lender (and with respect to any Serviced Whole Loan with
a related Subordinate Companion Loan, taking into account the subordinate nature of such Subordinate Companion Loan)), and it has
made a reasonable effort to contact the Directing Holder and, if any Serviced Whole Loan is involved, the related Serviced Companion
Loan Noteholders and (ii) in any case, shall determine whether such affirmative disapproval is not in the best interests of
all the Certificateholders and, with respect to any Serviced Whole Loan, the related Serviced Companion Loan Noteholders (as a
collective whole as if such Certificateholders and, if applicable, Serviced Companion Loan Noteholders constituted a single lender
(and with respect to any Serviced Whole Loan with a related Subordinate Companion Loan, taking into account the subordinate nature
of such Subordinate Companion Loan)) pursuant to the Servicing Standard, and, upon making such determination, shall implement the
recommended action outlined in the Asset Status Report. The Asset Status Report is not intended to replace or satisfy any specific
consent or approval right which the Directing Holder may have. Any Asset Status Report delivered with respect to an Excluded Controlling
Class Mortgage Loan shall be sent via email (or such other electronic means mutually acceptable to the parties) in one or more
separate files labeled by the Special Servicer “Excluded Information” followed by the applicable loan number and loan
name to cmbsexcludedinformation@wellsfargo.com.


 


The Special Servicer shall have the
authority to meet with the Borrower for any Specially Serviced Loan and take such actions consistent with the Servicing Standard
and the related Asset Status Report. The Special Servicer shall not take any action inconsistent with the related Asset Status
Report, unless such action would be required in order to act in accordance with the Servicing Standard, this Agreement, applicable
law or the related Loan Documents.


 


During the period when a Control Termination
Event has occurred and is continuing, the Special Servicer shall consult on a non-binding basis with the Operating Advisor in connection
with each Asset Status Report prior to finalizing and executing such Asset Status Report and the Operating Advisor shall propose,
by written notice, alternative courses of action within 10 days of receipt of each Asset Status Report to the extent the Operating
Advisor determines such alternatives to be in the best interest of the Certificateholders (including any Certificateholders that
were previously included in the Control Eligible Certificates), as a collective whole as if such Certificateholders constituted
a single lender. This determination


 






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shall be made pursuant to the Operating Advisor Standard. The Special Servicer shall consider
any such proposals from the Operating Advisor and determine whether any changes to its proposed Asset Status Report should be made,
such determination being made in accordance with the Servicing Standard and the other terms of this Agreement. In addition, with
respect to a Serviced Whole Loan, such Asset Status Reports are subject to any non-binding consultation rights, if any, that the
holders of the related Pari Passu Companion Loans have pursuant to the related Intercreditor Agreement.


 


During the period when a Control Termination
Event has occurred and is continuing and for so long as no Consultation Termination Event has occurred, the Special Servicer shall
consult on a non-binding basis with the Directing Holder in connection with each Asset Status Report prior to finalizing and executing
such Asset Status Report and the Directing Holder shall have the right to propose, by written notice, alternative courses of action
within 10 days of receipt of each Asset Status Report. The Special Servicer shall consider any such proposals from the Directing
Holder and determine whether any changes to its proposed Asset Status Report should be made, such determination being made in accordance
with the Servicing Standard and the other terms of this Agreement.


 


If neither the Operating Advisor nor
the Directing Holder proposes alternative courses of action within 10 days after receipt of such Asset Status Report, the
Special Servicer shall implement the Asset Status Report as proposed by the Special Servicer.


 


Notwithstanding anything to the contrary
herein, if a Consultation Termination Event has occurred, the Directing Holder shall have no right to receive any Asset Status
Report or otherwise consult with the Special Servicer with respect to any matter set forth therein. If a Control Termination Event
has occurred and is continuing, the Directing Holder shall have no right to consent to any Asset Status Report under this Section 3.23.


 


No direction, advice, consent, approval
or disapproval of the Directing Holder or Operating Advisor shall (a) require, permit or cause the Special Servicer to violate
the terms of a Specially Serviced Loan, any related Intercreditor Agreement, applicable law or any provision of this Agreement,
including, but not limited to, Section 3.09, Section 3.16, Section 3.18 and Section 3.25
and the Special Servicer’s obligation to act in accordance with the Servicing Standard and to maintain the REMIC status of
the Lower-Tier REMIC and the Upper-Tier REMIC, or (b) result in the imposition of a “prohibited transaction” or
“contribution” tax under the REMIC Provisions, or (c) expose the Master Servicer, the Special Servicer, the Depositor,
the Trust Fund, the Certificate Administrator, the Paying Agent, the Operating Advisor, the Trustee or their respective officers,
directors, employees or agents to any claim, suit or liability or (d) materially expand the scope of the Special Servicer’s,
Certificate Administrator’s, Trustee’s or the Master Servicer’s responsibilities under this Agreement. The Special
Servicer shall not be required to follow any direction of the Directing Holder described in this paragraph.


 


(f)          Unless a Control Termination
Event has occurred and is continuing, the Special Servicer shall deliver to the Operating Advisor only each Final Asset Status
Report.


 


Section 3.24     Special
Instructions for the Master Servicer and/or Special Servicer. (a) Prior to taking any action with respect to a
Mortgage Loan or a Serviced Whole Loan secured by Mortgaged Properties located in a “one-action” state, the
Master Servicer or


 






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Special Servicer, as applicable, shall consult with legal counsel, the fees and expenses of which shall be
an expense of the Trust Fund (and, in the case of any Serviced Whole Loan, such expense shall be allocated in accordance with
the allocation provisions of the related Intercreditor Agreement).


 


(b)          The Master Servicer shall send
written notice to each Borrower (other than with respect to a Non-Serviced Mortgage Loan) and the related Manager and clearing
bank relating to a Mortgage Loan (other than with respect to a Non-Serviced Mortgage Loan) that it is servicing that, if applicable,
it and/or the Trustee has been appointed as the “Designee” of the “Lender” under any related Lock-Box Agreement.


 


(c)          Without limiting the obligations
of the Master Servicer hereunder with respect to the enforcement of a Borrower’s obligations under the related Loan Documents,
the Master Servicer agrees that it shall, in accordance with the Servicing Standard, enforce the provisions of the Loan Documents
relating to the Mortgage Loans (other than with respect to a Non-Serviced Mortgage Loan) that it is servicing with respect to the
collection of Prepayment Premiums and Yield Maintenance Charges.


 


(d)          If a Rating Agency shall charge
a fee in connection with providing a Rating Agency Confirmation, the Master Servicer shall require the related Borrower (other
than with respect to a Non-Serviced Mortgage Loan) to pay such fee to the extent not inconsistent with the applicable Loan Documents.
If such fee remains unpaid, such fee shall be an expense of the Trust Fund (allocated as an Additional Trust Fund Expense in the
same manner as Realized Losses as set forth in Section 4.01(f) of this Agreement) and, (1) in the case of a Serviced
Pari Passu Whole Loan with a Serviced Pari Passu Companion Loan (but not a Subordinate Companion Loan), allocated in accordance
with the allocation provisions of the related Intercreditor Agreement, the costs of which may be advanced as a Servicing Advance.


 


(e)          The Master Servicer shall, in
accordance with the Servicing Standard, use commercially reasonable efforts to exercise on behalf of the Trust any right of the
Trust to recover any amounts owed by the Serviced Companion Loan Noteholders to the Trust Fund pursuant to the related Intercreditor
Agreement (but in the case of any Serviced Subordinate Companion Loan, subject to Section 1.02). The cost of such enforcement
on behalf of the Trust shall be paid and reimbursable as a Servicing Advance.


 


(f)          With respect to a Mortgage Loan
(other than a Non-Serviced Mortgage Loan) or Serviced Whole Loan with a Stated Principal Balance equal to or greater than the lesser
of 5% of the Stated Principal Balance of all Mortgage Loans held by the Trust Fund and $35,000,000, or with respect to any Mortgage
Loan that is one of the ten largest Mortgage Loans based on Stated Principal Balance, to the extent not inconsistent with the related
Mortgage Loan or Serviced Whole Loan, the Master Servicer shall not consent to a change of franchise affiliation with respect to
a Mortgaged Property (other than a Mortgaged Property securing a Non-Serviced Mortgage Loan) serviced hereunder or the property
manager with respect to a Mortgaged Property (other than a Mortgaged Property securing a Non-Serviced Mortgage Loan) serviced hereunder
unless the Master Servicer obtains a Rating Agency Confirmation relating to the Certificates and Serviced Companion Loan Securities,
if any.


 


(g)          [Reserved.]


 






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Section 3.25     Certain
Rights and Obligations of the Master Servicer and/or the Special Servicer. (a) In addition to its rights and
obligations with respect to Specially Serviced Loans, the Special Servicer has the right, whether or not the applicable
Mortgage Loan (other than a Non-Serviced Mortgage Loan) is a Specially Serviced Loan, to approve (i) actions that are
Major Decisions or are not Master Servicer Decisions and (ii) certain waivers of due-on-sale or due-on-encumbrance
clauses as described above under Section 3.09 of this Agreement. With respect to Performing Loans (other than
Non-Serviced Mortgage Loans), the Master Servicer shall notify the Special Servicer of any request for approval if it
recommends approval of such request for approval (a “Request for Approval”) received relating to the
Special Servicer’s above-referenced approval rights and forward to the Special Servicer its written recommendation and
analysis and any other information or documents reasonably requested by the Special Servicer (to the extent such information
or documents are in the Master Servicer’s possession). Subject to Section 3.09(h) of this Agreement, the
Special Servicer shall have 15 Business Days (from the date that the Special Servicer receives the information it requested
from the Master Servicer) to analyze and make a recommendation with respect to a Request for Approval with respect to a
Performing Loan and, prior to the end of such 15 Business Day period, for so long as no Control Termination Event has
occurred and is continuing, is required to notify the Directing Holder and each Serviced Companion Loan Noteholder of such
Request for Approval relating to a Major Decision and its recommendation with respect thereto. Following such notice, the
Directing Holder shall have 10 Business Days from the date it receives the Special Servicer recommendation and any other
information it may reasonably request to approve any recommendation of the Special Servicer relating to any Request for
Approval. In any event, if the Directing Holder does not respond to a Request for Approval by 5 p.m. on the 10th
Business Day after such request, the Special Servicer or the Master Servicer, as applicable, may deem such Request for
Approval or recommendation, as the case may be, approved by the Directing Holder and if the Special Servicer does not respond
to a Request for Approval within the required 15 Business Days (or such longer period as provided under a related
Intercreditor Agreement), the Master Servicer may deem such Request for Approval approved by the Special Servicer. With
respect to a Specially Serviced Loan, the Special Servicer must notify the Directing Holder of any Request for Approval
received relating to the Directing Holder’s above-referenced approval rights and its recommendation with respect
thereto. The Directing Holder shall have 10 Business Days (after receipt of all information reasonably requested) to approve
any recommendation of the Special Servicer relating to any such Request for Approval. In any event, if the Directing Holder
does not respond to any such Request for Approval by 5 p.m. on the 10th Business Day after such request, the Special
Servicer may deem its recommendation approved by the Directing Holder. Notwithstanding the foregoing, (i) with respect
to any Whole Loan, the procedure and timing for approval by the Directing Holder (to the extent it is the related Companion
Loan Noteholder) of the related Request for Approval shall be governed by the terms of the related Intercreditor Agreement
and (ii) if the Special Servicer determines that immediate action is necessary to protect the interests of
the Certificateholders and, with respect to any Serviced Whole Loan, the Certificateholders and the related Serviced
Companion Loan Noteholders (as a collective whole as if such Certificateholders and, if applicable, Serviced Companion Loan
Noteholders constituted a single lender) (and with respect to any Serviced Whole Loan with a related Subordinate Companion
Loan, taking into account the subordinate nature of such Subordinate Companion Loan) and the Special Servicer has made a
reasonable effort to contact the Directing Holder, it need not wait for a response from the Directing Holder.


 






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(b)          Notwithstanding any other provision
of this Agreement, neither the Master Servicer nor the Special Servicer shall be required to take or refrain from taking any action
pursuant to instructions from the Directing Holder or a Non-Controlling Note Holder, or due to any failure to approve an action
by the Directing Holder, or due to any objection by the Directing Holder or a Non-Controlling Note Holder that would (i) cause
any one of them to violate applicable law, the terms of any Loan Documents, any Intercreditor Agreement, this Agreement, including
the Servicing Standard, or the REMIC Provisions of the Code, (ii) expose the Master Servicer, the Special Servicer, the Depositor,
the Paying Agent, a Mortgage Loan Seller, the Trust Fund, the Operating Advisor, the Asset Representations Reviewer, the Trustee,
the Certificate Administrator (in any of its capacities), or the Custodian or their respective Affiliates, officers, directors,
employees or agents to any claim, suit or liability, (iii) materially expand the scope of the Master Servicer’s or the
Special Servicer’s responsibilities, or (iv) cause the Master Servicer or the Special Servicer to act, or fail to act,
in a manner that is not in the best interests of the Certificateholders.


 


(c)          The Master Servicer and the
Special Servicer, as applicable, shall discuss with the Directing Holder, on a monthly basis, the performance of any Mortgage Loan
or Serviced Whole Loan that is a Specially Serviced Loan, which is delinquent, has been placed on a “Watch List” or
has been identified by the Master Servicer or the Special Servicer as exhibiting deteriorating performance.


 


Section 3.26     Modification,
Waiver, Amendment and Consents. (a) Subject to Sections 3.25, 3.26(f) and 3.27, and, if
applicable, each Intercreditor Agreement, (i) with respect to any Performing Loan, the Master Servicer (subject to the
Special Servicer’s consent for any action that is a Major Decision or which is not a Master Servicer Decision) or
(ii) with respect to any Specially Serviced Loan, the Special Servicer, in each case subject to the rights of the
Directing Holder and, in the case of the Special Servicer, consultation with the Operating Advisor (if a Control Termination
Event has occurred and is continuing and to the extent the Operating Advisor has consultation rights pursuant to Section 3.23(e), Section 3.31
and Section 6.07 of this Agreement), may modify, waive, amend, consent or take such other action with respect to
any term of any Mortgage Loan (other than any Non-Serviced Mortgage Loan) or Serviced Whole Loan if such modification,
waiver, amendment, consent or other action (A) is consistent with the Servicing Standard and (B) would not
constitute a “significant modification” of such Mortgage Loan or Serviced Whole Loan pursuant to Treasury
Regulations Section 1.860G-2(b) and would not otherwise cause an Adverse REMIC Event. Each of the Master Servicer and
the Special Servicer may conclusively rely on an Opinion of Counsel in meeting this requirement. In order to meet the
foregoing requirements, in the case of a release of real property collateral securing a Mortgage Loan, the Master Servicer or
Special Servicer, as applicable, shall observe the REMIC requirements of the Code with respect to a required payment of
principal if the loan-to-value ratio immediately after the release exceeds 125% with respect to the related real property
collateral. In connection with (i) the release of a Mortgaged Property or any portion of a Mortgaged Property from the
lien of the related Mortgage or (ii) the taking of a Mortgaged Property or any portion of a Mortgaged Property by
exercise of the power of eminent domain or condemnation, if the Loan Documents require the Master Servicer or the Special
Servicer, as applicable, to calculate (or to approve the calculation of the related Borrower of) the loan-to-value ratio of
the remaining Mortgaged Property or Mortgaged Properties or the fair market value of the real property constituting
the remaining Mortgaged Property or


 






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Mortgaged Properties, for purposes of REMIC qualification of the related Mortgage Loan or
Serviced Whole Loan, then such calculation shall exclude the value of any personal property and going concern value, if any.
If, following any such release or taking, the loan-to-value ratio as so calculated is greater than 125%, the Master Servicer
or Special Servicer, as applicable, shall require payment of principal by a “qualified amount” as determined
under Revenue Procedure 2010-30 or successor provisions, unless the related Borrower provides an Opinion of Counsel that if
such amount is not paid the related Mortgage Loan will not fail to be a Qualified Mortgage.


 


(b)          Neither the Master Servicer
nor the Special Servicer may extend the Maturity Date of any Mortgage Loan, Serviced Whole Loan or Specially Serviced Loan beyond
the date that is the date occurring later than the earlier of (1) five years prior to the Rated Final Distribution Date and (2) in
the case of a Mortgage Loan, Serviced Whole Loan or Specially Serviced Loan secured solely or primarily by the related Borrower’s
interest in a ground lease (or, with respect to a leasehold interest where the Borrower is the lessee and that is a space lease
or an air rights lease, such space lease or air rights lease), the date that is 20 years prior to the expiration date of such ground
lease (or, with respect to a leasehold interest where the Borrower is the lessee and that is a space lease or an air rights lease,
such space lease or air rights lease) (or 10 years prior to the expiration date of such lease if the Master Servicer or the Special
Servicer, as applicable gives due consideration to the remaining term of such ground lease (or, with respect to a leasehold interest
where the Borrower is the lessee and that is a space lease or an air rights lease, such space lease or air rights lease) and such
extension is in the best interest of the Certificateholders and, with respect to a Serviced Whole Loan, the related Serviced Companion
Loan Noteholder (as a collective whole as if such Certificateholders and (with respect to a Serviced Whole Loan) Serviced Companion
Loan Noteholder constituted a single lender (and with respect to any Serviced Whole Loan with a related Subordinate Companion Loan,
taking into account the subordinate nature of such Subordinate Companion Loan)) and, if no Control Termination Event has occurred
and is continuing, with the consent of the Directing Holder).


 


(c)          Neither the Master Servicer
nor the Special Servicer shall permit any Borrower to add or substitute any collateral for an outstanding Mortgage Loan (other
than a Non-Serviced Mortgage Loan) or Serviced Whole Loan, which collateral constitutes real property, unless the Master Servicer
or the Special Servicer, as applicable, shall have obtained a Rating Agency Confirmation relating to the Certificates and Serviced
Companion Loan Securities, if any.


 


(d)          Any payment of interest, which
is deferred pursuant to any modification, waiver or amendment permitted hereunder, shall not, for purposes hereof, including, without
limitation, calculating monthly distributions to Certificateholders or, if applicable, Serviced Companion Loan Noteholders, be
added to the unpaid principal balance of the related Mortgage Loan or Serviced Whole Loan, notwithstanding that the terms of such
Mortgage Loan or Serviced Whole Loan or such modification, waiver or amendment so permit.


 


(e)          Except for waivers of Penalty
Charges and waivers of notice periods, all material modifications, waivers and amendments of the Mortgage Loans (other than a Non-Serviced
Mortgage Loan) or Serviced Whole Loans in accordance with this Section 3.26 or Section 3.27 of this Agreement
(with respect to Serviced Whole Loans) shall be in writing.


 






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(f)          The Master Servicer or the Special
Servicer, as applicable, shall notify the Trustee, the Certificate Administrator, the Directing Holder (other than if a Consultation
Termination Event has occurred), the Operating Advisor (only if a Control Termination Event has occurred and is continuing), the
Depositor, the related Serviced Companion Loan Noteholder (if any) and the 17g-5 Information Provider (who shall promptly post
such notice to the 17g-5 Information Provider’s Website pursuant to Section 3.14(d) of this Agreement), in writing,
of any modification, waiver, material consent or amendment of any term of any Mortgage Loan (other than a Non-Serviced Mortgage
Loan) or Serviced Whole Loan and the date thereof, and shall deliver to the Custodian for deposit in the related Mortgage File,
an original counterpart of the agreement relating to such modification, waiver, material consent or amendment, promptly (and in
any event within 10 Business Days) following the execution thereof.


 


(g)          The Master Servicer or the Special
Servicer may (subject to the Servicing Standard), as a condition to granting any request by a Borrower for consent, modification,
waiver or indulgence or any other matter or thing, the granting of which is within its discretion pursuant to the terms of the
instruments evidencing or securing the related Mortgage Loan or Serviced Whole Loan and is permitted by the terms of this Agreement
and applicable law, require that such Borrower pay to it (i) as additional servicing compensation, a reasonable and customary
fee for the additional services performed in connection with such request (provided that the charging of such fee would
not constitute a “significant modification” of the related Mortgage Loan or Serviced Whole Loan within the meaning
of Treasury Regulations Section 1.860G-2(b)), and (ii) any related costs and expenses incurred by it. In no event shall
the Master Servicer or the Special Servicer be entitled to payment for such fees or expenses unless such payment is collected from
the related Borrower.


 


(h)          Notwithstanding the foregoing,
the Master Servicer shall not permit the substitution of any Mortgaged Property pursuant to the defeasance provisions of any Mortgage
Loan or Serviced Whole Loan (or any portion thereof), if any, unless such defeasance complies with Treasury Regulations Section 1.860G-2(a)(8)
and satisfies the conditions set forth in Section 3.09(g) of this Agreement.


 


(i)          Notwithstanding anything herein
or in the related Loan Documents to the contrary, the Master Servicer may permit the substitution of direct, non-callable “government
securities” within the meaning of Section 2(a)(16) of the Investment Company Act of 1940, or any other securities that
comply with Treasury Regulations Section 1.860G-2(a)(8)(ii) (including U.S. government agency securities if such securities
are eligible defeasance collateral under then current guidelines of the Rating Agencies) for any Mortgaged Property pursuant to
the defeasance provisions of any Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced Whole Loan (or any portion
thereof) in lieu of the defeasance collateral specified in the related Loan Documents; provided that, the Master Servicer
reasonably determines that allowing their use would not cause a default or event of default under the related Loan Documents to
become reasonably foreseeable and the Master Servicer receives an Opinion of Counsel (at the expense of the Borrower to the extent
permitted under the Loan Documents) to the effect that such use would not be and would not constitute a “significant modification”
of such Mortgage Loan or Serviced Whole Loan pursuant to Treasury Regulations Section 1.860G-2(b) and would not otherwise
cause an Adverse REMIC Event and provided, that the requirements set forth in Section 3.09(g) of this Agreement
are satisfied.


 






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(j)          If required under the related
Loan Documents or if otherwise consistent with the Servicing Standard, the Master Servicer shall establish and maintain one or
more accounts, which may be sub-accounts of the Collection Account (the “Defeasance Accounts”), into which all
payments received by the Master Servicer from any defeasance collateral substituted for any Mortgaged Property shall be deposited
and retained, and shall administer such Defeasance Accounts in accordance with the Loan Documents. Each Defeasance Account shall
at all times be an Eligible Account. Notwithstanding the foregoing, in no event shall the Master Servicer permit such amounts to
be maintained in the Defeasance Account for a period in excess of 12 months, unless such amounts are reinvested by the Master Servicer
in “government securities” within the meaning of Section 2(a)(16) of the Investment Company Act of 1940, or any
other securities that comply with Treasury Regulations Section 1.860G-2(a)(8)(ii). To the extent not required or permitted
to be placed in a separate account, the Master Servicer shall deposit all payments received by it from defeasance collateral substituted
for any Mortgaged Property into the Collection Account or, if a Serviced Whole Loan is involved, the Serviced Whole Loan Collection
Account and treat any such payments as payments made on the Mortgage Loan or Serviced Whole Loan, as applicable, in advance of
its Due Date in accordance with clause (a) of the definition of Principal Distribution Amount, and not as a prepayment
of the related Mortgage Loan or Serviced Whole Loan. Notwithstanding anything herein to the contrary, in no event shall the Master
Servicer permit such amounts to be maintained in the Collection Account or, if a Serviced Whole Loan is involved, the Serviced
Whole Loan Collection Account for a period in excess of 365 days.


 


(k)          Any right to take any action,
grant or withhold any consent or otherwise exercise any right, election or remedy afforded the Directing Holder under this Agreement
may, unless otherwise expressly provided herein to the contrary, be affirmatively waived by the Directing Holder by written notice
given to the Trustee, the Certificate Administrator, the Master Servicer or the Special Servicer, as applicable. Upon delivery
of any such notice of waiver given by the Directing Holder, any time period (exclusive or otherwise) afforded the Directing Holder
to exercise any such right, make any such election or grant or withhold any such consent shall thereupon be deemed to have expired
with the same force and effect as if the specific time period set forth in this Agreement applicable thereto had itself expired.
If the Master Servicer or Special Servicer determines that a refusal to consent by the Directing Holder or any advice from the
Directing Holder would cause the Master Servicer or Special Servicer, as applicable, to violate applicable law, the terms of the
applicable Loan Documents, any related Intercreditor Agreements, the REMIC Provisions or the terms of this Agreement, including
without limitation, the Servicing Standard, the Master Servicer or Special Servicer shall disregard such refusal to consent or
advice and notify the Directing Holder, the Trustee, the Certificate Administrator, the related Serviced Companion Loan Noteholder
(if any) and the 17g-5 Information Provider (who shall promptly post such notice to the 17g-5 Information Provider’s Website
pursuant to Section 3.14(d) of this Agreement) of its determination, including a reasonably detailed explanation of
the basis therefor.


 


(l)          Any modification, waiver or
amendment of or consents or approvals relating to a Mortgage Loan or Serviced Whole Loan that is a Specially Serviced Loan or Serviced
REO Loan (i) shall be performed by the Special Servicer and not the Master Servicer, (ii) to the extent provided in this
Agreement and/or the applicable Intercreditor Agreement, shall be subject to the consent of the related Directing Holder and (iii)
shall be structured so as to be


 






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consistent with the allocation and payment priorities in the related Loan Documents and Intercreditor
Agreement, if any, such that neither the Trust as holder of the Mortgage Loan nor a holder of any related Serviced Companion Loan
gains a priority over the other such holder that is not reflected in the related Loan Documents and Intercreditor Agreement.


 


(m)          Any modification, waiver or
amendment of or consents or other actions relating to a Performing Loan (other than a Non-Serviced Mortgage Loan) shall be subject
to the consent of the Special Servicer (other than with respect to any Master Servicer Decision), and, only to the extent provided
in this Agreement and/or the applicable Intercreditor Agreement, the Special Servicer shall obtain the consent of (or consult with)
the related Directing Holder. When the Special Servicer’s consent is required (with respect to any Performing Loan (other
than a Non-Serviced Mortgage Loan)), the Master Servicer shall promptly provide the Special Servicer with written notice of any
request for modification, waiver, amendment, consent or other action accompanied by the Master Servicer’s written recommendation
and analysis, to the extent the Master Servicer is recommending approval, and any and all information in the Master Servicer’s
possession or control that the Special Servicer may reasonably request to grant or withhold such consent. When the Special Servicer’s
consent is required hereunder, such consent shall be deemed given 15 Business Days, or such longer time period pursuant to the
terms of the related Intercreditor Agreement but not less than five (5) Business Days after the time period set forth therein for
Directing Holder approval, (or in connection with an Acceptable Insurance Default, 90 days) after receipt (unless earlier
objected to) by the Special Servicer from the Master Servicer of the Master Servicer’s written analysis and recommendation
with respect to such proposed Major Decision or modification, waiver, amendment, consent or other action that is not a Master Servicer
Decision together with such other information reasonably requested by the Special Servicer and reasonably available to the Master
Servicer. With respect to all Major Decisions for Specially Serviced Loans and Performing Loans (other than a Non-Serviced Mortgage
Loans), the Special Servicer shall, prior to consenting to such a proposed action of the Master Servicer, and prior to itself taking
such an action, obtain the written consent of the related Directing Holder, which consent shall be deemed given 10 Business Days
after receipt (or in connection with an Acceptable Insurance Default, 30 days) (unless earlier objected to) by such Directing
Holder of the Master Servicer’s and/or Special Servicer’s, as applicable, written analysis and recommendation with
respect to such action together with such other information reasonably requested by such Directing Holder.


 


(n)          [Reserved.]


 


(o)          For any performing Mortgage
Loan (other than a Non-Serviced Mortgage Loan) and Serviced Whole Loan, and subject to the rights of the Special Servicer and the
Directing Holder under this Agreement, the Master Servicer, without the consent of the Special Servicer, the Directing Holder or
the Operating Advisor, as applicable, and without Rating Agency Confirmation shall be responsible to determine whether to consent
to or approve any of the following requests by the related Borrower (each, a “Master Servicer Decision”):


 


(i)          approving routine
leasing activity for customary leases of space for parking, office, retail, warehouse, industrial and/or manufacturing purposes,
including the granting of subordination and non-disturbance and attornment agreements and consenting to modification, waiver, amendment,
execution, termination or renewal of any lease that (1) does not involve a ground lease or lease of an outparcel, (2) affects an
area less than


 






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the lesser of (i) 20,000 square feet and (ii) 20% of the net rentable area of the related Mortgaged Property and
(3) does not involve a lease for a tenant or space specifically identified by name or space location in the related Loan Documents
as requiring the consent of the lender for the associated activity;


 


(ii)          approving any
immaterial waiver affecting the timing of receipt of financial statements from any Borrower; provided that such financial
statements are delivered no less often than quarterly and within 60 days after the end of the calendar quarter;


 


(iii)          approving annual
operating budgets for the related Mortgaged Property; provided that no such budget (i) provides for the payment of operating
expenses in an amount equal to more than 110% of the amounts budgeted therefor for the prior year or (ii) provides for the payment
of any material expenses to any Affiliate of the Borrower (other than the payment of a management fee to any property manager if
such management fee is no more than the management fee in effect on the Cut-off Date);


 


(iv)          subject to other
restrictions herein regarding Principal Prepayments, waiving any provision of a Mortgage Loan or Serviced Whole Loan requiring
a specified number of days’ notice prior to a Principal Prepayment;


 


(v)          approving defeasances
subject to the terms of Section 3.09 of this Agreement and any non-material modifications, consents or waivers (other
than modifications, consents or waivers specifically prohibited under this Section 3.26) in connection with a defeasance
permitted by the terms of this Agreement that do not materially and adversely impact Certificateholders, and subject to certain
conditions, including in certain cases, delivery of an Opinion of Counsel (which Opinion of Counsel shall be an expense of the
Borrower) to the effect that such modification, waiver or consent would not cause any Trust REMIC to fail to qualify as a REMIC
under the Code or result in a “prohibited transaction” under the REMIC provisions of the Code, other than a modification,
consent or waiver with respect to (i) a waiver of a mortgage loan event of default, (ii) a modification of the type of defeasance
collateral required under the Loan Documents such that defeasance collateral other than direct, non-callable obligations of the
United States would be permitted or (iii) a modification that would permit a principal prepayment instead of defeasance if the
applicable Loan Documents do not otherwise permit such principal prepayment;


 


(vi)          approving consents
with respect to non-material rights of way and non-material easements and consent to subordination of the related Mortgage Loan
or Serviced Whole Loan to such non-material rights of way or easements; provided that the Master Servicer has determined
in accordance with the Servicing Standard that such right-of-way or easement does not materially affect with the then-current use
or value of the related Mortgaged Property, the security intended to be provided by the related Mortgage and the Mortgagor’s
ability to make payments with respect to the related Mortgage Loan or Serviced Whole Loan;


 


(vii)          granting waivers
of minor covenant defaults (other than financial covenants);


 






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(viii)          as permitted
under the related Mortgage Loan Documents, payment from any escrow, reserve or letter of credit except releases of any amount from
any escrow accounts, reserve accounts or letters of credit, in each case, held as performance escrows or earn-out escrows or reserves
unless required pursuant to the specific terms of the related Mortgage Loan or Serviced Whole Loan and for which there is no lender
discretion (other than confirming the satisfaction of the other conditions to the transaction set forth in the related Mortgage
Loan Documents that do not include any other approval);


 


(ix)          approving a change
of the property manager at the request of the related borrower so long as (i) the successor property manager is not affiliated
with the Borrower and is a nationally or regionally recognized manager of similar properties, and (ii) the subject Mortgage Loan
or Serviced Whole Loan does not have an outstanding principal balance in excess of the lesser of $2,500,000 or 2% of the then aggregate
principal balance of the Mortgage Loans and Serviced Whole Loans; and


 


(x)          for all Mortgage
Loans and Serviced Whole Loans, subject to the satisfaction of any conditions precedent set forth in the related Mortgage Loan
Documents, approving disbursements of any holdback amounts in accordance with the related Mortgage Loan Documents, provided
that such disbursements are required pursuant to the specific terms of the related Mortgage Loan or Serviced Whole Loan and
for which there is no lender discretion (other than confirming the satisfaction of the other conditions to the transaction set
forth in the related Mortgage Loan Documents that do not include any other approval);


 


(xi)          consent to releases
of non-material, non-income producing parcels of a Mortgaged Property that do not materially affect the use or value of the Mortgaged
Property or the ability of the related Mortgagor to pay amounts due in respect of the Mortgage Loan or Companion Loan as and when
due; provided such releases are required by the related Mortgage Loan Documents and there is no lender discretion permitted
under the Mortgage Loan Documents; and


 


(xii)          any non-material
modifications, waivers or amendments of a non-monetary term of an applicable Mortgage Loan Document not provided for in clauses
(i) through (xi) above, which are necessary to cure any ambiguities or to correct scrivener’s errors in the terms
of the related Mortgage Loan or Serviced Whole Loan.


 


With respect to any borrower request
or other action on a Performing Loan including matters that are Major Decisions and that are otherwise not Master Servicer Decisions,
the Master Servicer shall not agree to such modification, waiver, amendment, consent, request or other action without the prior
written consent of the Special Servicer. In connection with such consent, to the extent the Master Servicer is recommending approval,
the Master Servicer shall promptly provide the Special Servicer with written notice of any request for such modification, waiver,
amendment, consent, request or other action, along with the Master Servicer’s written recommendation and analysis, and all
information in the Master Servicer’s possession that may be reasonably requested in order to grant or withhold such consent
by the Special Servicer or the Directing Holder or other Person with consent or consultation rights; provided that in the event
that the Special Servicer does not respond within ten (10) Business Days after receipt of such


 






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written notice and all such reasonably
requested information, plus the time period provided to the Controlling Class Representative or other relevant party under this
Agreement and, if applicable, any time period provided to a Companion Loan Noteholder under a related Intercreditor Agreement,
the Special Servicer’s consent to such modification, waiver, amendment, consent, request or other action shall be deemed
granted.


 


Section 3.27     Certain
Intercreditor Matters Relating to the Whole Loans. (a) With respect to Serviced Whole Loans, except for those duties to
be performed by, and notices to be furnished by, the Trustee under this Agreement, the Master Servicer or the Special
Servicer, as applicable, shall perform such duties and furnish such notices, reports and information on behalf of the Trust
Fund as may be the obligation of the Trust, or the obligation of the master servicer or the special servicer, as applicable,
following securitization, under the related Intercreditor Agreement.


 


(b)          The Master Servicer shall maintain
a register (the “Serviced Companion Loan Noteholder Register”) on which the Master Servicer shall record the
names and addresses of the Serviced Companion Loan Noteholders and wire transfer instructions for such Serviced Companion Loan
Noteholders from time to time, to the extent such information is provided in writing to the Master Servicer by a Serviced Companion
Loan Noteholder. Each Serviced Companion Loan Noteholder has agreed to inform the Master Servicer of its name, address, taxpayer
identification number and wiring instructions (to the extent the foregoing information is not already contained in the related
Intercreditor Agreement) and of any transfer thereof (together with any instruments of transfer). The name and address of each
initial Serviced Companion Loan Noteholder as of the Closing Date is set forth on Schedule VII hereto. The Master Servicer
shall be entitled to conclusively rely upon the information delivered by any Serviced Companion Loan Noteholder until it receives
notice of transfer or of any change in information.


 


In no event shall the Master Servicer
be obligated to pay any party the amounts payable to a Serviced Companion Loan Noteholder hereunder other than the Person listed
as the applicable Serviced Companion Loan Noteholder on the Serviced Companion Loan Noteholder Register. In the event that a Serviced
Companion Loan Noteholder transfers the related Serviced Companion Loan without notice to the Master Servicer, the Master Servicer
shall have no liability whatsoever for any misdirected payment on such Serviced Companion Loan and shall have no obligation to
recover and redirect such payment.


 


The Master Servicer shall promptly
provide the names and addresses of any Serviced Companion Loan Noteholder to any party hereto, any related Companion Loan Noteholder
or any successor thereto upon written request, and any such party or successor may, without further investigation, conclusively
rely upon such information. The Master Servicer shall have no liability to any Person for the provision of any such names and addresses.


 


(c)          The Directing Holder shall not
owe any fiduciary duty to the Trustee, any Master Servicer, any Special Servicer, any Certificateholder (including the Controlling
Class Representative, if applicable) or any noteholder of a Serviced Whole Loan. The Directing Holder will not have any liability
to the Certificateholders (including the Controlling Class Representative, if applicable) or any other noteholder of a Serviced
Whole Loan, as applicable,


 






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for any action taken, or for refraining from the taking of any action or the giving of any consent,
pursuant to this Agreement, or for errors in judgment.


 


(d)          With respect to any Serviced
Whole Loan, the Directing Holder shall be entitled to exercise the consent rights, cure rights and purchase rights, as applicable,
to the extent set forth in the applicable Intercreditor Agreement, in accordance with the terms of the related Intercreditor Agreement
and this Agreement.


 


(e)          The Special Servicer (if any
Serviced Companion Loan is a Specially Serviced Loan or has become a Serviced REO Loan) or the Master Servicer (otherwise), as
applicable, shall take all actions relating to the servicing and/or administration of, and (subject to Section 3.13
and Section 3.17 of this Agreement and the following paragraph) the preparation and delivery of reports and other information
with respect to, the Serviced Whole Loan related to any Serviced Companion Loan or any related Serviced REO Property required to
be performed by the holder of the related Mortgage Loan or contemplated to be performed by a servicer, in any case pursuant to
and as required by each related Intercreditor Agreement and/or any related mezzanine intercreditor agreement existing on the Closing
Date and any related Intercreditor Agreement or mezzanine intercreditor agreement not existing on the Closing Date that is provided
to the Master Servicer or Special Servicer, as applicable. In addition notwithstanding anything herein to the contrary, the following
considerations shall apply with respect to the servicing of a Serviced Companion Loan:


 


(i)          none of the
Master Servicer, the Special Servicer or the Trustee shall make any P&I Advance with respect to the Serviced Companion Loan;
and


 


(ii)          the Master
Servicer and the Special Servicer shall each consult with and obtain the consent of the related Serviced Companion Loan Noteholder(s)
to the extent required by the related Intercreditor Agreement.


 


The Master Servicer or Special Servicer,
as applicable, shall timely provide to each related Serviced Companion Loan Noteholder any reports or notices required to be delivered
to such Serviced Companion Loan Noteholder pursuant to the related Intercreditor Agreement, and the Special Servicer shall reasonably
cooperate with the Master Servicer and the Master Servicer shall reasonably cooperate with the Special Servicer in preparing/delivering
any such report or notice with respect to special servicing matters.


 


If any Serviced Companion Loan or any
portion thereof or any particular payments thereon are included in a REMIC, then neither the Master Servicer nor the Special Servicer
shall knowingly take any action that would result in the equivalent of an Adverse REMIC Event with respect to such REMIC.


 


The parties hereto acknowledge that
a Serviced Companion Loan Noteholder shall not (1) owe any fiduciary duty to the Trustee, the Certificate Administrator, the
Master Servicer, the Special Servicer or any Certificateholder or (2) have any liability to the Trustee or the Certificateholders
for any action taken, or for refraining from the taking of any action pursuant to the related Intercreditor Agreement or the giving
of any consent or for errors in judgment. Each Certificateholder, by its acceptance of a Certificate, shall be deemed to have confirmed
its understanding that a Serviced Companion Loan Noteholder (i) may take or refrain


 






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from taking actions that favor its interests
or the interests of its affiliates over the Certificateholders, (ii) may have special relationships and interests that conflict
with the interests of the Certificateholders and shall be deemed to have agreed to take no action against a Serviced Companion
Loan Noteholder or any of its officers, directors, employees, principals or agents as a result of such special relationships or
conflicts and (iii) shall not be liable by reason of its having acted or refrained from acting solely in its interest or in
the interest of its affiliates.


 


The parties hereto recognize and acknowledge
the respective rights of each Serviced Companion Loan Noteholder under the related Intercreditor Agreement. Each of the rights
of a Serviced Companion Loan Noteholder under or contemplated by this Section 3.27(e) may be exercisable by a designee
thereof on its behalf; provided that the Master Servicer, the Special Servicer, the Certificate Administrator and the Trustee
are provided with written notice by the related Serviced Companion Loan Noteholder of such designation (upon which such party may
conclusively rely) and the contact details of the designee.


 


Notwithstanding anything herein or
in the Intercreditor Agreement to the contrary, no direction or objection by the Serviced Companion Loan Noteholder may require
or cause the Master Servicer or the Special Servicer, as applicable, to violate any provision of any Mortgage Loan, applicable
law, this Agreement, any Intercreditor Agreement or the REMIC Provisions, including without limitation the Master Servicer’s
or Special Servicer’s obligation to act in accordance with the Servicing Standard, or expose the Master Servicer, the Special Servicer,
the Depositor, a Mortgage Loan Seller, the Operating Advisor, the Asset Representations Reviewer, the Paying Agent, the Trust Fund,
the Certificate Administrator (in any of its capacities) or the Trustee to liability, or materially expand the scope of the Master
Servicer’s or Special Servicer’s responsibilities hereunder.


 


Any reference to servicing any of the
Mortgage Loans in accordance with any of the related Loan Documents (including the related Mortgage Note and Mortgage) shall also
mean, in the case of a Serviced Whole Loan, in accordance with the related Intercreditor Agreement.


 


To the extent not otherwise expressly
included herein, any provisions required to be included herein pursuant to any Intercreditor Agreement for a Serviced Whole Loan
or a Non-Serviced Whole Loan are deemed incorporated herein by reference, and the parties hereto shall comply with those provisions
as if set forth herein in full.


 


For purposes of exercising any rights
that the Directing Holder of the Mortgage Note for any Mortgage Loan in a Serviced Whole Loan may have under the related Intercreditor
Agreement, the Directing Holder shall be the designee of the Trust, as such noteholder, and the Trustee shall, upon request, take
such actions as may be necessary under the related Intercreditor Agreement to effect such designation. The Certificate Administrator
shall provide notice of the identity of the Controlling Class Representative (to the extent the Certificate Administrator has received
notice of a change in the identity of the Controlling Class Representative), upon request, to the other parties to the related
Intercreditor Agreement, to the extent the identity and contact information of such parties to such Intercreditor Agreement are
actually known to the Certificate Administrator.


 






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(f)          With respect to a Non-Serviced
Mortgage Loan, the Master Servicer shall deliver information comparable to the above described information in Section 3.13(c)
and Section 3.13(d) hereof to the same Persons as described above in Section 3.13(c) and Section 3.13(d) and
according to the same time frames as described above in Section 3.13(c) and Section 3.13(d), to the extent such Master
Servicer has timely received such information from the Other Servicer under the Other Pooling and Servicing Agreement.


 


Promptly following the Closing Date
or, as applicable, upon the receipt of notice by the Certificate Administrator of a Servicing Shift Securitization Date, the Certificate
Administrator shall send written notice substantially in the form of Exhibit EE hereto, accompanied by a copy of an
executed version of this Agreement, with respect to each Non-Serviced Mortgage Loan to each applicable Other Servicer, Other Special
Servicer and Other Trustee stating that, as of the Closing Date, the Trustee is the holder of the applicable Non-Serviced Mortgage
Loan and directing each such recipient to remit to the Master Servicer no later than one (1) Business Day after each Determination
Date all amounts payable to, and to forward, deliver or otherwise make available, as the case may be, to the Master Servicer no
later than one (1) Business Day after each Determination Date all reports, statements, documents, communications and other information
that are to be forwarded, delivered or otherwise made available to, the holder of the applicable Non-Serviced Mortgage Loan under
the related Intercreditor Agreement and Other Pooling and Servicing Agreement. Such notice shall also provide contact information
for the Certificate Administrator, the Trustee, the Master Servicer, the Special Servicer, the Directing Holder, the 17g-5 Information
Provider and the Rating Agencies.


 


With respect to a Non-Serviced Mortgage
Loan, if the applicable Other Servicer, Other Special Servicer or Other Trustee shall be replaced in accordance with the terms
of the related Other Pooling and Servicing Agreement, promptly upon notice thereof, the applicable party to this Agreement that
receives such notice shall, upon request, acknowledge such successor as the successor to the Other Servicer, Other Special Servicer
or Other Trustee, as the case may be.


 


With respect to each Serviced Whole
Loan, the Master Servicer or the Special Servicer, as applicable, shall provide each Companion Loan Noteholder and, if applicable,
related Non-Directing Holder (or its designee or representative), within the same time frame and to the same extent it is required
to provide such information and materials to the Certificateholders or the Directing Holder, as applicable (but without regard
to whether or not the Directing Holder actually has lost any rights to receive such information as a result of a Consultation Termination
Event), hereunder with (1) copies of each financial statement received by the Master Servicer pursuant to the terms of the related
Loan Documents, (2) copies of any notice of default sent to the Borrower and (3) subject to the terms of the Loan Documents, copies
of any other documents or information relating to the Serviced Whole Loan (including, without limitation, property inspection reports,
loan servicing statements, Borrower requests and asset status reports) that the Master Servicer delivers to the related Directing
Holder and copies of any other notice, information or report that it is required to provide to the Directing Holder pursuant to
this Agreement with respect to any Major Decision or with respect to any “major decisions” or “major actions”
as set forth in the related Intercreditor Agreement or the implementation of any recommended actions outlined in an Asset Status
Report relating to such Serviced Whole Loan.


 






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Any copies to be furnished by the Master Servicer or the Special Servicer may be furnished
by hard copy or electronic means.


 


(g)          With respect to each Whole Loan,
if any Serviced Companion Loan becomes the subject of an “asset review” (or such analogous term defined in the related
Other Pooling and Servicing Agreement) pursuant to the related Other Pooling and Servicing Agreement, the Master Servicer, the
Special Servicer, the Trustee and the Custodian shall reasonably cooperate with the Other Asset Representations Reviewer or any
other party to the Other Pooling and Servicing Agreement in connection with such asset review by providing the Other Asset Representations
Reviewer or such other requesting party with any documents reasonably requested by the Other Asset Representations Reviewer or
such other requesting party (not at its own expense or the expense of the Trust but at the expense of the related mortgage loan
seller, such Other Asset Representations Reviewer or such other requesting party to the Other Pooling and Servicing Agreement),
but only to the extent that (i) Other Asset Representations Reviewer or such other requesting party has not been able to obtain
such documents from the related mortgage loan seller or any party to the related Other Pooling and Servicing Agreement, and (ii)
such documents are in the possession of the Master Servicer, the Special Servicer, the Trustee or the Custodian, as the case may
be. For the avoidance of doubt, none of the Master Servicer, the Special Servicer, the Trustee or the Custodian (i) shall have
any further obligations with respect to any such asset review nor shall any such party be bound by the results of any such asset
review, or (ii) shall be obligated to provide such documents if providing such documents, in its reasonable determination, would
be a violation of this Agreement or any related Intercreditor Agreement.


 


Section 3.28     Directing
Holder Contact with the Master Servicer and the Special Servicer. Each of the Master Servicer and the Special Servicer
shall, not more frequently than once per month, without charge, make a knowledgeable Servicing Officer via telephone
available during normal business hours to verbally answer questions from the Directing Holder (for so long as no Consultation
Termination Event has occurred) and the Operating Advisor (for so long as a Control Termination Event has occurred and is
continuing) regarding the performance and servicing of the Mortgage Loans and/or REO Properties for which the Master Servicer
or the Special Servicer, as the case may be, is responsible.


 


Section 3.29     Controlling
Class Certificateholders and the Controlling Class Representative; Certain Rights and Powers of the Directing
Holder. (a) Each Certificateholder and Certificate Owner of a Control Eligible Certificate is hereby deemed to have
agreed by virtue of its purchase of such Certificate (or beneficial ownership interest in such Certificate) to provide its
name and address to the Certificate Registrar and to notify the Certificate Registrar of the transfer of any Control Eligible
Certificate (or the beneficial ownership of any Control Eligible Certificate), the selection of a Controlling
Class Representative or the resignation or removal thereof. Any such Certificateholder (or Certificate Owner) or its
designee at any time appointed Controlling Class Representative is hereby deemed to have agreed by virtue of its
purchase of a Control Eligible Certificate (or the beneficial ownership interest in a Control Eligible Certificate) to notify
the Certificate Registrar when such Certificateholder (or Certificate Owner) or designee is appointed Controlling
Class Representative and when it is removed or resigns. Upon receipt of such notice, the Certificate Registrar shall
notify the Special Servicer, the Master Servicer, the Certificate Administrator, the Depositor, the Operating Advisor, the


 






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Asset Representations Reviewer, the Trustee, each Serviced Companion Loan Noteholder of the identity of the
Controlling Class Representative, any resignation or removal thereof and/or any new Holder or Certificate Owner of a
Control Eligible Certificate.


 


On the Closing Date, the initial Controlling
Class Representative shall deliver a certification substantially in the form of Exhibit L-1G to this Agreement. Upon the
resignation or removal of the existing Controlling Class Representative, any successor Controlling Class Representative shall also
deliver a certification substantially in the form of Exhibit L-1G to this Agreement prior to being recognized as the new
Controlling Class Representative.


 


In addition, upon the request of the
Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Operating Advisor or, for so long as no
Consultation Termination Event has occurred, the Directing Holder, the Certificate Registrar shall promptly (but no later than
five (5) Business Days after such request) provide to the requesting party the identity of the then-current Controlling Class and
a list of the Holders of Certificates of the Controlling Class. However, if any Certificate of the Controlling Class is a Global
Certificate, then the Certificate Administrator shall promptly (but in no event more than five (5) Business Days following such
request) request from the Depository, with the assistance of the Trustee, the list of Depository Participants for the Controlling
Class and make reasonable efforts to obtain a list of Certificate Owners from such Depository Participants, and the Certificate
Administrator shall provide such list of Depository Participants and such list of Certificate Owners (to the extent the Certificate
Administrator obtains such list of Certificate Owners), to the requesting party promptly upon receipt. The Certificate Administrator
shall be entitled to conclusively rely on the list of Depository Participants for the Controlling Class provided by the Depository
and the list of Certificate Owners provided by any Depository Participant and shall not have any liability for such reliance; provided
that, if any Certificate of the Controlling Class is a Global Certificate and the Certificate Administrator has actual knowledge
of the identity of the related Certificate Owners, then the Certificate Administrator shall include such Certificate Owner in the
list provided to any requesting party pursuant to first sentence of this paragraph. The Master Servicer, the Special Servicer,
the Trustee, the Operating Advisor and the Directing Holder shall be entitled to conclusively rely on any such information so provided.
Any expenses incurred in connection with obtaining such information shall be at the expense of the requesting party, except that
if (i) such expenses arise in connection with an event as to which the Directing Holder (or Controlling Class Representative)
has review, consent or consultation rights with respect to an action taken by, or report prepared by, the requesting party pursuant
to this Agreement or the related Other Pooling and Servicing Agreement or in connection with a request made by the Operating Advisor
in connection with its obligation under this Agreement to deliver a copy of the Operating Advisor Annual Report to the Controlling
Class Representative and (ii) the requesting party has not been notified of the identity of the Directing Holder (or Controlling
Class Representative) or reasonably believes that the identity of the Directing Holder (or Controlling Class Representative) has
changed, then such expenses shall be at the expense of the Trust.


 


To the extent the Master Servicer has
actual knowledge of any change in the identity of a Holder (or Certificate Owners) of the Controlling Class, then the Master Servicer
shall promptly notify the Trustee, the Certificate Administrator, the Operating Advisor, the Asset


 






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Representations Reviewer and
the Special Servicer thereof, who may rely conclusively on such notice from the Master Servicer.


 


(b)          The initial Controlling Class
Representative on the Closing Date shall be Eightfold Real Estate Capital, L.P. on behalf of one or more managed funds or accounts.
The Certificate Registrar shall be entitled to assume Eightfold Real Estate Capital, L.P. or any subsequent Controlling Class Representative
selected in accordance with this Agreement and notified to the Certificate Registrar thereof in writing, is the Controlling Class
Representative appointed by the Holder (or Certificate Owner) of each Class of Control Eligible Certificates, until the Certificate
Registrar receives (i) written notice of a replacement Controlling Class Representative from a majority of the Controlling Class Certificateholders
by Certificate Balance, (ii) written notice from a majority of the Controlling Class Certificateholders, by Certificate Balance,
that a Controlling Class Representative is no longer designated, (iii) written notice from a Controlling Class Representative
of the resignation of such Controlling Class Representative, or (iv) written notice that the Holder (or Certificate Owner) of a
majority of the applicable Class of Control Eligible Certificates is no longer the Holder (or Certificate Owner) of a majority
of the applicable Class of Control Eligible Certificates due to a transfer of those Certificates (or a beneficial ownership interest
in those Certificates). Upon the resignation of a Controlling Class Representative, the Certificate Administrator shall request
the Controlling Class Certificateholders to select a new Controlling Class Representative.


 


In the event either (y) the Certificate
Registrar receives notice identified in any of clause (ii) through (iv) of the immediately preceding paragraph and no
successor Controlling Class Representative is then identified to the Certificate Registrar or (z) a party to this Agreement requests
from the Certificate Administrator the identity of the Controlling Class Representative and such identity is not known to the Certificate
Administrator, then the Certificate Administrator shall promptly deliver a notice of such event (the “Initial Notice”)
to all the Certificateholders via the Depository (and a copy of such Initial Notice shall be simultaneously sent to each of the
Master Servicer, the Special Servicer, the Trustee and the Operating Advisor), which notice shall include a request that the Controlling
Class Certificateholder that believes it may own the largest aggregate Certificate Balance of the Controlling Class represent in
writing to the Certificate Administrator that it owns the largest aggregate Certificate Balance of the Controlling Class (with
evidence of its ownership) and provide its contact information. Upon receipt of such written representation (and any subsequent
written representation), the Certificate Administrator shall deliver a notice (the “Subsequent Notice”) to all
the Certificateholders via the Depository of such representation (and a copy of such Subsequent Notice shall be simultaneously
sent to each of the Master Servicer, the Special Servicer, the Trustee and the Operating Advisor) and so long as another party
holding an equal or larger aggregate Certificate Balance of the Controlling Class does not provide a written representation within
thirty (30) days from the date of delivery of the latest Subsequent Notice, the party making the original assertion shall become
the Controlling Class Certificateholder until replaced by another party pursuant to the terms of this Agreement. Notwithstanding
the foregoing, Controlling Class Certificateholder(s) providing notice that it (or they) are the Holders of a majority of the Controlling
Class Certificateholders, by Certificate Balance, shall have the right to select the Controlling Class Representative at any
time without regard to such 30-day period, and a Controlling Class Representative selected by the Holders of a majority of the
Controlling Class Certificateholders, by Certificate Balance, shall be recognized as such


 






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immediately upon being selected
in accordance with this Agreement whether or not such 30-day period has expired.


 


In the event that a Controlling Class
Representative is selected pursuant to this Section 3.29(b) or there is deemed to be no Controlling Class Representative
pursuant to this Section 3.29(b), the Certificate Registrar shall notify the Special Servicer, the Master Servicer, the
Certificate Administrator, the Depositor, the Operating Advisor, the Asset Representations Reviewer and the Trustee of the identity
of the new Controlling Class Representative or the absence of a Controlling Class Representative, as applicable.


 


At any time more than 50% of the Percentage
Interest of the Controlling Class Certificateholders direct the Certificate Administrator in writing to hold an election for
a Controlling Class Representative, the Certificate Administrator shall hold such election as soon as practicable at the expense
of such requesting Certificateholders.


 


(c)          The Master Servicer, Special
Servicer, Trustee, Operating Advisor and Asset Representations Reviewer shall be entitled to request that the Certificate Administrator
provide, and the Certificate Administrator shall promptly (but no later than five (5) Business Days after such request) provide
(i) for so long as no Consultation Termination Event has occurred, the identity of the Controlling Class Representative, including
names and contact information and, to the extent reasonably available, a list of Controlling Class Certificateholders and (ii) confirmation
as to whether a Control Termination Event or Consultation Termination Event has occurred in the 12 months preceding any such request
or any other period specified in such request. In addition to the foregoing, (i) within two (2) Business Days of receiving notice
of the selection of a new Controlling Class Representative or the existence of a new Controlling Class Certificateholder or
(ii) within ten (10) days of the commencement or cessation of any Consultation Termination Event or Control Termination Event,
the Certificate Administrator shall notify the Trustee, the Operating Advisor, the Asset Representations Reviewer, the Master Servicer
and the Special Servicer. Any expenses incurred in connection with obtaining such information shall be at the expense of the requesting
party, except that if (i) such expenses arise in connection with an event as to which the Directing Holder (or Controlling
Class Representative) has review, consent or consultation rights with respect to an action taken by, or report prepared by, the
requesting party pursuant to this Agreement or the related Other Pooling and Servicing Agreement or in connection with a request
made by the Operating Advisor in connection with its obligation under this Agreement to deliver a copy of the Operating Advisor
Annual Report to the Controlling Class Representative and (ii) the requesting party has not been notified of the identity
of the Directing Holder (or Controlling Class Representative) or reasonably believes that the identity of the Directing Holder
(or Controlling Class Representative) has changed, then such expenses shall be at the expense of the Trust.


 


The Special Servicer, the Master Servicer,
the Certificate Administrator, the Depositor, the Operating Advisor, the Asset Representations Reviewer and the Trustee shall be
entitled to assume Eightfold Real Estate Capital, L.P. is the Controlling Class Representative appointed by the Holder (or Certificate
Owner) of each Class of Control Eligible Certificates until such party receives notice to the contrary. At any time that a party
to this Agreement receives notice of the selection of a Controlling Class Representative from the Certificate Registrar, the Certificate
Administrator or a majority of the Controlling Class Certificateholders, by Certificate Balance, then such party to this Agreement
shall be entitled to rely on the most


 






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recent notification with respect to the identity of the Controlling Class Certificateholder
and the Controlling Class Representative. The Special Servicer shall have no obligation to obtain the consent of or consult with
any entity appointed as a successor Controlling Class Representative until the Special Servicer receives written notice of such
successor Controlling Class Representative’s identity and contact information.


 


(d)          If to the extent the Certificate
Administrator determines that a Class of Book-Entry Certificates is the Controlling Class, the Certificate Administrator shall
notify the related Certificateholders of such Class (through the Depository) of such event.


 


(e)          Each Certificateholder acknowledges
and agrees, by its acceptance of its Certificates, that: (i) the Directing Holder may have special relationships and interests
that conflict with those of Holders of one or more Classes of Certificates or Companion Loan Noteholders; (ii) the Directing
Holder may act solely in the interests of the Holders of the Controlling Class (or, in the case of a Whole Loan, in the interests
of one or more Companion Loan Noteholders); (iii) the Directing Holder does not have any liability or duties to the Holders
of any Class of Certificates other than the Controlling Class; (iv) the Directing Holder may take actions that favor the interests
of the Directing Holder or one or more Classes of the Certificates including the Holders of the Controlling Class (or, in the case
of a Whole Loan, one or more Companion Loan Noteholders) over the interests of the Holders of one or more Classes of Certificates
and other Companion Loan Noteholders; and (v) the Directing Holder shall have no liability whatsoever to any Certificateholder,
the Trust, any Companion Loan Noteholder any party hereto or any other Person (including any Borrower under a Mortgage Loan) for
having so acted as set forth in clauses (i) through (iv) of this paragraph, and no Certificateholder or Companion Loan Noteholder
may take any action whatsoever against the Directing Holder or any director, officer, employee, agent or principal thereof for
having so acted.


 


(f)          The Certificate Registrar shall
determine which Class of Certificates is the then-current Controlling Class within two (2) Business Days of a request from the
Master Servicer, Special Servicer, Trustee, the Operating Advisor, the Certificate Administrator or any Certificateholder and provide
such information to the requesting party.


 


(g)          At any time when the most senior
Class of Control Eligible Certificates is the Controlling Class, the Holder of more than 50% of the Controlling Class (by Certificate
Balance) may waive its right to act as, or appoint a representative to act as, the Controlling Class Representative and to exercise
any of the rights of the Controlling Class Representative or cause the exercise of any of the rights of the Controlling Class Representative
by irrevocable written notice delivered to the Depositor, Certificate Administrator, Certificate Registrar, Trustee, Master Servicer,
Special Servicer, Operating Advisor and Asset Representations Reviewer. Any such waiver shall remain effective with respect to
such Holder and the most senior Class of Control Eligible Certificates until such time as that Certificateholder has (i) sold a
majority of the most senior Class of Control Eligible Certificates (by Certificate Balance) to an unaffiliated third party and
(ii) certified to the Depositor, Certificate Administrator, Certificate Registrar, Trustee, Master Servicer, Special Servicer,
Operating Advisor and Asset Representations Reviewer, that (a) the transferor retains no direct or indirect voting rights with
respect to the most senior Class of Control Eligible Certificates that it does not own, (b) there is no voting agreement between
the transferee and the transferor and (c) the transferor retains no direct or indirect controlling interest in the most senior
Class of Control Eligible Certificates. During such waiver period a


 






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Consultation Termination Event shall be deemed to exist and
the rights of the Controlling Class to appoint a Controlling Class Representative and the rights of the Controlling Class Representative
shall not be operative (notwithstanding whether a Control Termination Event or a Consultation Termination Event is or would otherwise
then be in effect). Following any transfer of more than 50% of the most senior Class of Control Eligible Certificates, the successor
Holder of more than 50% of the most senior Class of Control Eligible Certificates, if the most senior Class of Control Eligible
Certificates is the Controlling Class (by Certificate Balance) shall again have the right to act as, or appoint a representative
to act as, the Controlling Class Representative without regard to any prior waiver by the predecessor Certificateholder. The successor
Certificateholder shall also have the right to irrevocably waive its right to act as or appoint a Controlling Class Representative
or to exercise any of the rights of the Controlling Class Representative or cause the exercise of any of the rights of the Controlling
Class Representative. No successor Certificateholder described above shall have any consent rights with respect to any Mortgage
Loan that became a Specially Serviced Loan prior to its acquisition of a majority of the most senior Class of Control Eligible
Certificates that had not also become a corrected loan prior to such acquisition until such Mortgage Loan becomes a Corrected Mortgage
Loan.


 


Section 3.30     Rating
Agency Confirmation. (a) Notwithstanding the terms of any related Mortgage Loan documents or other provisions of this
Agreement, if any action under any Mortgage Loan documents or this Agreement requires Rating Agency Confirmation as a
condition precedent to such action, if the party (the “Requesting Party”) attempting and/or required to
obtain such Rating Agency Confirmation from each Rating Agency has made a request to any Rating Agency for such Rating Agency
Confirmation and, within 10 Business Days of the Rating Agency Confirmation request being posted to the 17g-5 Information
Provider’s Website, such Rating Agency has not replied to such request or has responded in a manner that indicates that
such Rating Agency is neither reviewing such request nor waiving the requirement for Rating Agency Confirmation, then such
Requesting Party shall be required to confirm (through direct communication and not by posting any confirmation on the 17g-5
Information Provider’s Website) that the applicable Rating Agency has received the Rating Agency Confirmation request,
and, if it has not, promptly request the related Rating Agency Confirmation again (which may also be through direct
communication). The circumstances described in the preceding sentence are referred to in this Agreement as a “RAC
No-Response Scenario.” Once the Requesting Party has sent a request for a Rating Agency Confirmation to the 17g-5
Information Provider, such Requesting Party, may, but shall not be obligated to send such request directly to the Rating
Agencies in accordance with the procedures set forth in Section 3.14.


 


If there is no response to such Rating
Agency Confirmation request within 5 Business Days of such second request in a RAC No-Response Scenario or if such Rating Agency
has responded in a manner that indicates such Rating Agency is neither reviewing such request nor waiving the requirement for Rating
Agency Confirmation, then (x) with respect to any condition in any Mortgage Loan document requiring such Rating Agency Confirmation
or with respect to any other matter under this Agreement relating to the servicing of the Mortgage Loans (other than as set forth
in clause (y) below), the requirement to obtain a Rating Agency Confirmation shall be deemed not to apply (as if such
requirement did not exist) with respect to such Rating Agency and the Master Servicer or the Special Servicer, as the case may
be, may then take such action if the Master Servicer or the Special Servicer, as applicable, confirms its


 






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original determination
(made prior to making such request) that taking the action with respect to which it requested the Rating Agency Confirmation would
still be consistent with the Servicing Standard, (y) with respect to a replacement of the Master Servicer or Special Servicer,
such condition shall be deemed not to apply (as if such requirement did not exist) if (i)(A) the applicable replacement master
servicer or special servicer has been appointed as a master servicer or special servicer, as applicable, on a transaction-level
basis on the Closing Date of a commercial mortgage loan securitization and, as of the date of such determination, is the master
servicer or special servicer, as applicable, of such securitization, with respect to which Moody’s rated one or more classes
of certificates and one or more classes of such certificates are still outstanding and rated by Moody’s and (B) Moody’s
has not cited servicing concerns of the applicable replacement as the sole or material factor in any qualification, downgrade or
withdrawal of the ratings (or placement on “watch status” in contemplation of a ratings downgrade or withdrawal) of
securities rated by Moody’s in a commercial mortgage-backed securitization transaction serviced by the applicable master
servicer or special servicer prior to the time of determination, if Moody’s is the non-responding Rating Agency, (ii) the
applicable replacement master servicer or special servicer is rated at least “CMS3” (in the case of the master servicer)
or “CSS3” (in the case of the special servicer), if Fitch is the non-responding Rating Agency or (iii) DBRS has not
cited servicing concerns of the applicable replacement master servicer or special servicer, as applicable, as the sole or material
factor in any qualification, downgrade or withdrawal of the ratings (or placement on “watch status” in contemplation
of a ratings downgrade or withdrawal) of securities in any other commercial mortgage-backed securitization transaction serviced
by the applicable replacement master servicer or special servicer prior to the time of determination, if DBRS is the non-responding
Rating Agency and (z) with respect to a replacement or successor to the Operating Advisor in any circumstance where a Rating Agency
Confirmation is required pursuant to the terms hereof, such condition will be deemed to be waived with respect to any non-responding
Rating Agency so long as such Rating Agency has not cited concerns regarding the replacement operating advisor as the sole or material
factor in any qualification, downgrade or withdrawal of the ratings (or placement on “watch status” in contemplation
of a ratings downgrade or withdrawal) of securities in any other commercial mortgage-backed securities transaction with respect
to which the replacement operating advisor acts as trust advisor or operating advisor prior to the date of determination.


 


Any Rating Agency Confirmation request
made by the Master Servicer, Special Servicer, Certificate Administrator or Trustee, as applicable, pursuant to this Agreement,
shall be made in writing, which writing shall contain a cover page indicating the nature of the Rating Agency Confirmation request,
and shall contain all back-up material necessary for the Rating Agency to process such request. Such written Rating Agency Confirmation
request shall be provided in electronic format to the 17g-5 Information Provider, and the 17g-5 Information Provider shall post
such request on the 17g-5 Information Provider’s Website in accordance with Section 3.14(d) of this Agreement.


 


Promptly following the Master Servicer’s
or Special Servicer’s determination to take any action discussed in this Section 3.30(a) following any requirement
to obtain a Rating Agency Confirmation being deemed not to apply (as if such requirement did not exist), the Master Servicer or
Special Servicer, as the case may be, shall provide electronic written notice to the 17g-5 Information Provider of the action taken
for the particular item at such time, and the


 






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17g-5 Information Provider shall post such notice on the 17g-5 Information Provider’s
Website in accordance with Section 3.14(d) of this Agreement.


 


(b)          Notwithstanding anything to
the contrary in this Section 3.30, for purposes of the provisions of any Loan Document relating to defeasance (including
without limitation the type of collateral acceptable for use as defeasance collateral), release or substitution of any collateral,
any Rating Agency Confirmation requirement in the Loan Documents with respect to which the Master Servicer or Special Servicer
would have been required to make the determination described in Section 3.30(a) shall be deemed not to apply regardless
of any such determination by the Requesting Party (or, if the Requesting Party is the related Borrower, the Master Servicer (with
respect to Performing Loans) or the Special Servicer (with respect to Specially Serviced Loans and Serviced REO Loans), as applicable);
provided, that the Requesting Party (or the Master Servicer or the Special Servicer, as applicable) shall in any event review
the other conditions required under the related Loan Documents with respect to such defeasance, release or substitution and confirm
to its satisfaction in accordance with the Servicing Standard that such conditions (other than the requirement for a Rating Agency
Confirmation) have been satisfied.


 


(c)          For all other matters or actions
not specifically discussed in Section 3.30(a) above, the applicable Requesting Party shall deliver a Rating Agency
Confirmation from each Rating Agency.


 


(d)          Notwithstanding the terms of
the related Loan Documents, the other provisions of this Agreement or the applicable Intercreditor Agreement, with respect to any
Serviced Companion Loan as to which there exists Serviced Companion Loan Securities, if any action relating to the servicing and
administration of the related Whole Loan or any related REO Property (the “Relevant Action”) requires delivery
of a Rating Agency Confirmation as a condition precedent to such action pursuant to this Agreement, then, except as set forth below
in this paragraph, such action shall also require delivery of a Serviced Companion Loan Rating Agency Confirmation as a condition
precedent to such action from each related Serviced Companion Loan Rating Agency. Each Serviced Companion Loan Rating Agency Confirmation
shall be sought by the Master Servicer or Special Servicer, as applicable, depending on whichever such party is seeking the corresponding
Rating Agency Confirmation(s) in connection with the Relevant Action. The requirement to obtain a Serviced Companion Loan Rating
Agency Confirmation with respect to any Serviced Companion Loan Securities will be subject to, will be permitted to be waived by
the Master Servicer and the Special Servicer on, and will be deemed not to apply on, the same terms and conditions applicable to
obtaining Rating Agency Confirmations, as set forth in this Agreement; provided that the Master Servicer or Special Servicer,
as applicable, depending on which is seeking the subject Serviced Companion Loan Rating Agency Confirmation, shall forward to one
or more of its counterparts (i.e., the Other Servicer or Other Special Servicer, as applicable), the Other 17g-5 Information Provider,
or such other party or parties as are agreed to by the Master Servicer or the Special Servicer, as applicable, and the applicable
parties for the related Other Securitization, at the expense of the Other Securitization to the extent not borne by the related
Borrower, and in such format as the sender and recipient may reasonably agree, (i) the request for such Serviced Companion Loan
Rating Agency Confirmation, (ii) all materials forwarded to the 17g-5 Information Provider under this Agreement in connection with
seeking the Rating Agency Confirmation(s) for the


 






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applicable Relevant Action at approximately the same time that such materials
are forwarded to the 17g-5 Information Provider and (iii) any other materials that the applicable Serviced Companion Loan Rating
Agency may reasonably request in connection with such Serviced Companion Loan Rating Agency Confirmation promptly following receipt
of such request from the Other Trustee.


 


The Certificate Administrator shall,
promptly following receipt of written request from the Master Servicer or the Special Servicer, as applicable, provide to the Master
Servicer or the Special Servicer, as applicable, the contact information for the Other Servicer, the Other Special Servicer, the
Other Trustee and the Other 17g-5 Information Provider for the Other Securitization, solely to the extent in its possession.


 


Section 3.31     Appointment
and Duties of the Operating Advisor.


 


(a)          Park Bridge Lender Services
LLC is hereby appointed to serve as the initial Operating Advisor.


 


(b)          The Operating Advisor, as an
independent contractor, shall review the Special Servicer’s operational practices in respect of Specially Serviced Loans,
consult, in certain circumstances with the Special Servicer and perform each other obligation of the Operating Advisor as set forth
in this Agreement solely on behalf of the Trust Fund and in the best interest of, and for the benefit of, the Certificateholders
and, with respect to any Serviced Whole Loan (other than any Servicing Shift Whole Loan) for the benefit of the related Companion
Loan Noteholders (as a collective whole as if such Certificateholders and Companion Loan Noteholders constituted a single lender
(and with respect to any Serviced Whole Loan with a related Subordinate Companion Loan, taking into account the subordinate nature
of such Subordinate Companion Loan)), and not any particular Class of Certificateholders (as determined by the Operating Advisor
in the exercise of its good faith and reasonable judgment), but without regard to any conflict of interest arising from any relationship
that the Operating Advisor or any of its affiliates may have with any of the Borrowers, the Mortgage Loan Seller, the Depositor,
the Master Servicer, the Special Servicer, the Asset Representations Reviewer, the Directing Holder or any of their affiliates
(the “Operating Advisor Standard”). The Operating Advisor shall not owe any fiduciary duty to the Master Servicer,
the Special Servicer or any other Person in connection with this Agreement. By purchasing a Certificate, Certificateholders are
deemed to acknowledge and agree that there could be multiple strategies to resolve any Specially Serviced Loan and that the goal
of the Operating Advisor’s participation is to provide additional oversight relating to the Special Servicer’s compliance
with the Servicing Standard in making its determinations as to which strategy to execute.


 


(c)          With respect to each Mortgage
Loan (other than any Non-Serviced Mortgage Loan or Servicing Shift Mortgage Loan) or Serviced Whole Loan (other than a Servicing
Shift Whole Loan), if no Control Termination Event has occurred and is continuing, the Operating Advisor shall:


 


(i)          promptly review
all information available to Privileged Persons on the Certificate Administrator’s Website relevant to the Operating Advisor’s
obligations under this Agreement;


 






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(ii)         promptly review
each Final Asset Status Report; and


 


(iii)        review any
Appraisal Reduction Amount and net present value calculations pursuant to Section 3.31(e) of this Agreement.


 


(d)          With respect to each Mortgage
Loan (other than any Non-Serviced Mortgage Loan or Servicing Shift Mortgage Loan) or Serviced Whole Loan (other than a Servicing
Shift Whole Loan), while a Control Termination Event has occurred and is continuing, the Operating Advisor shall:


 


(i)          consult (on
a non-binding basis) with the Special Servicer in connection with each Asset Status Report pursuant to Section 3.23(e) of
this Agreement.


 


(ii)         consult (on
a non-binding basis) with the Special Servicer in connection with any Major Decision pursuant to Section 6.07 of this
Agreement;


 


(iii)         review, recalculate
and verify the accuracy of any Appraisal Reduction Amount and net present value calculations pursuant to Section 3.31(f)
of this Agreement;


 


(iv)         in connection
with the preparation of the Operating Advisor Annual Report (defined below), review, in accordance with the Operating Advisor Standard,
the Special Servicer’s operational practices on a Platform-Level Basis in respect of Specially Serviced Loans in order to
formulate an opinion as to whether or not those operational practices generally satisfy the Servicing Standard with respect to
the resolution and/or liquidation of the Specially Serviced Loans;


 


(v)         within 120 days
of the end of the prior calendar year (if any such Mortgage Loans (other than Servicing Shift Mortgage Loans) were Specially Serviced
Loans during the prior calendar year), deliver an annual report setting forth the Operating Advisor’s assessment of the Special
Servicer’s performance of its duties under this Agreement on a Platform-Level Basis with respect to the resolution and liquidation
of Specially Serviced Loans during the prior calendar year (the “Operating Advisor Annual Report”) to the Trustee,
the Master Servicer, the Certificate Administrator (which shall promptly post such Operating Advisor Annual Report on the Certificate
Administrator’s Website), the related Serviced Companion Loan Noteholder (if any) and the 17g-5 Information Provider (who
shall promptly post such notice to the 17g-5 Information Provider’s Website pursuant to Section 3.14(d) of this
Agreement). Each Operating Advisor Annual Report shall be substantially in the form of Exhibit BB of this Agreement
(which form may be modified or altered as to either its organization or content by the Operating Advisor, subject to compliance
of such form with the terms and provisions of this Agreement) and shall be based on the Operating Advisor’s review of any
annual compliance statement and any assessment of compliance delivered to the Operating Advisor pursuant to Section 10.11
of this Agreement, as applicable, any attestation report delivered to the Operating Advisor pursuant to Section 10.13
of this Agreement, any Asset Status Report, other information (other than any communications between the Directing Holder and the
Special Servicer that would be Privileged Information) delivered to the Operating Advisor by the Special Servicer and oral communications
with the Special Servicer; provided that in no event shall the information or any other content included in the Operating
Advisor


 






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Annual Report contravene any provision of this Agreement. Subject to the restrictions in this Agreement, including, without
limitation, Section 3.31(b) of this Agreement, each such Operating Advisor Annual Report shall (A) identify any
material deviations (i) from the Servicing Standard and (ii) from the Special Servicer’s obligations under this
Agreement with respect to the resolution or liquidation of Specially Serviced Loans and (B) comply with all of the confidentiality
requirements applicable to the Operating Advisor described in this Agreement. Promptly upon receipt of each Operating Advisor Annual
Report, the Certificate Administrator shall post such Operating Advisor Annual Report on the Certificate Administrator’s
Website. Each of the Special Servicer and the Directing Holder (for so long as no Consultation Termination Event has occurred)
shall be given an opportunity to review any Operating Advisor Annual Report at least five Business Days prior to its delivery to
the Trustee and the Certificate Administrator; provided, that the Operating Advisor shall have no obligation to consider
any comments to such Operating Advisor Annual Report that are provided by the Special Servicer or Directing Holder. Notwithstanding
the foregoing, no Operating Advisor Annual Report shall be required from the Operating Advisor with respect to the Special Servicer
if during the prior calendar year no Asset Status Report was prepared by the Special Servicer in connection with a Specially Serviced
Loan or Serviced REO Property.


 


(vi)          Notwithstanding
anything in this Agreement to the contrary (i) the Operating Advisor’s assessment of the Special Servicer’s performance
shall be based on the provisions of this Agreement and (ii) so long as Midland Loan Services, a Division of PNC Bank, National
Association is acting as Special Servicer then the Special Servicer, upon reasonable written request, shall provide the Operating
Advisor with electronic access (reasonably acceptable to the Special Servicer and the Operating Advisor) to the Special Servicer’s
stated policies and procedures to permit the Operating Advisor to review such policies and procedures. The Operating Advisor shall
be permitted to review such policies and procedures but shall not be permitted to retain hard copies. The Operating Advisor shall
keep all information contained in the policies and procedures strictly confidential, except (A) the Operating Advisor may disclose
such information if (i) such information becomes generally available and known to the public other than as a result of a disclosure
directly or indirectly by the Operating Advisor, or (ii) such disclosure is required by applicable law, rule, order or regulation
(as demonstrated by evidence reasonably satisfactory to the Special Servicer) and (B) the Operating Advisor may disclose a particular
portion of the policies and procedures solely when necessary to support specific conclusions (i) in the Operating Advisor Annual
Report, or (ii) in connection with a recommendation by the Operating Advisor to replace Midland Loan Services, a Division of PNC
Bank, National Association as the special servicer pursuant to the provisions of this Agreement. Notwithstanding the foregoing,
the Operating Advisor shall be permitted to share such information with its Affiliates and any subcontractors of the Operating
Advisor to the extent reasonably necessary to perform the Operating Advisor’s obligations under this Agreement. The Operating
Advisor’s assessment may not take into account the fact that Midland Loan Services, a Division of PNC Bank, National Association
limited the Operating Advisor’s access to the Special Servicer’s written policies and procedures pursuant to the provisions
of this Agreement. Nothing set forth herein shall limit or affect the scope of the Operating Advisor’s platform level review
in connection with its preparation of the Operating Advisor Annual Report,


 






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provided that the Operating Advisor’s access to
or reliance upon the Special Servicer’s written policies and procedures will be subject to the terms of this Section 3.31(d).
Subject to the terms and conditions in this Agreement related to Privileged Information, the Operating Advisor agrees that it shall
use information received from the Special Servicer solely for purposes of complying with its duties and obligations under this
Agreement.


 


(e)          With respect to each Mortgage
Loan (other than any Non-Serviced Mortgage Loan or Servicing Shift Mortgage Loan) or Serviced Whole Loan (other than a Servicing
Shift Whole Loan), if no Control Termination Event has occurred and is continuing, the Special Servicer will forward any Appraisal
Reduction Amount and net present value calculations used in the Special Servicer’s determination of what course of action
to take in connection with the workout or liquidation of a Specially Serviced Loan to the Operating Advisor after such calculations
have been finalized. The Operating Advisor shall review such calculations but may not opine on, or otherwise call into question,
such Appraisal Reduction Amount and/or net present value calculations (except that if the Operating Advisor discovers a mathematical
error contained in such calculations, then the Operating Advisor shall notify the Special Servicer and the Controlling Class Representative
(other than with respect to Excluded Mortgage Loans) of such error).


 


(f)          With respect to each Mortgage
Loan (other than any Non-Serviced Mortgage Loan or Servicing Shift Mortgage Loan) or Serviced Whole Loan (other than a Servicing
Shift Whole Loan), while a Control Termination Event has occurred and is continuing, after the calculation but prior to the utilization
by the Special Servicer of any of the calculations related to (A) Appraisal Reduction Amounts or (B) net present value,
the Special Servicer shall forward such calculations, together with any supporting material or additional information necessary
in support thereof (including such additional information reasonably requested by the Operating Advisor to confirm the mathematical
accuracy of such calculations, but not including any Privileged Information and, in the case of the Appraisal Reduction Amount,
only to the extent the Master Servicer has provided such information to the Special Servicer), to the Operating Advisor promptly,
but in any event no later than 2 Business Days after finalizing the preparation of such calculations, and the Operating Advisor
shall promptly, but no later than 3 Business Days after receipt of such calculations and any supporting or additional materials,
recalculate and verify the accuracy of the mathematical calculations and the corresponding application of the non-discretionary
portion of the applicable formulas required to be utilized in connection with any such calculation.


 


In connection with this Section 3.31(f),
if the Operating Advisor does not agree with the mathematical calculations or the application of the applicable non-discretionary
portions of the formula required to be utilized for such calculation, the Operating Advisor and the Master Servicer or the Special
Servicer, as applicable, shall consult with each other in order to resolve any inaccuracy in the mathematical calculations or the
application of the non-discretionary portions of the related formula in arriving at those mathematical calculations or any disagreement
within 5 Business Days of delivery of such calculations to the Operating Advisor. If the Operating Advisor and Special Servicer
are not able to resolve such inaccuracies or disagreement prior to the end of such 5 Business Day period, the Operating Advisor
shall promptly notify the Certificate Administrator of such disagreement and the Certificate


 






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Administrator shall examine the calculations
and supporting materials provided by the Master Servicer or the Special Servicer, as applicable, and the Operating Advisor and
shall determine which calculation is to apply. In making such determination, the Certificate Administrator may hire an independent
third-party to assist with any such calculation at the expense of the Trust and shall be entitled to conclusively rely on such
third party’s determination (provided such third party has been selected with reasonable care by the Certificate Administrator).


 


(g)          Subject to the requirements
of confidentiality imposed on the Operating Advisor herein (including without limitation in respect of Privileged Information),
the Operating Advisor shall respond to Inquiries proposed by Privileged Persons from time to time in accordance with the terms
of Section 4.02(c) of this Agreement.


 


(h)          The Operating Advisor and its
Affiliates shall keep all Privileged Information confidential and shall not disclose such Privileged Information to any Person
(including Certificateholders other than the Controlling Class Representative, other than (1) to the extent expressly required
by this Agreement, to the other parties to this Agreement with a notice indicating that such information is Privileged Information
or (2) pursuant to a Privileged Information Exception. Each party to this Agreement that received Privileged Information from the
Operating Advisor with a notice stating that such information is Privileged Information shall not disclose such Privileged Information
to any Person without the prior written consent of the Special Servicer, the Controlling Class Representative and the Directing
Holder other than pursuant to a Privileged Information Exception. Subject to the terms and conditions in this Agreement related
to Privileged Information, the Operating Advisor agrees that it shall use information received from the Special Servicer pursuant
to the terms of this Agreement solely for purposes of complying with its duties and obligations hereunder.


 


(i)          On each Master Servicer Remittance
Date, the Operating Advisor shall be paid the applicable Operating Advisor Fee from amounts on deposit in the Collection Account
pursuant to Section 3.06 of this Agreement, as applicable. In addition, the Operating Advisor Consulting Fee shall
be payable to the Operating Advisor with respect to each Major Decision for which the Operating Advisor has consultation rights.
Each of the Operating Advisor Fee and the Operating Advisor Consulting Fee shall be payable from funds on deposit in the Collection
Account as provided in Section 3.06 of this Agreement, but with respect to the Operating Advisor Consulting Fee only
to the extent such Operating Advisor Consulting Fee is actually received from the related Borrower. When the Operating Advisor
has consultation rights with respect to a Major Decision under this Agreement, the Master Servicer or the Special Servicer, as
applicable, shall use commercially reasonable efforts consistent with the Servicing Standard to collect the applicable Operating
Advisor Consulting Fee from the related Borrower in connection with such Major Decision, but only to the extent not prohibited
by the related Loan Documents. The Master Servicer or Special Servicer, as applicable, may waive or reduce the amount of any Operating
Advisor Consulting Fee payable by the related Borrower if it determines that such full or partial waiver is in accordance with
the Servicing Standard, but in no event shall the Master Servicer or the Special Servicer take any enforcement action with respect
to the collection of such Operating Advisor Consulting Fee other than requests for collection; provided that the Master
Servicer or the Special Servicer, as applicable, shall consult with the Operating Advisor prior to any such waiver or reduction.


 






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Section 3.32     Delivery of
Excluded Information to the Certificate Administrator.


 


(a)          Any Excluded Information that
the Master Servicer, the Special Servicer or the Operating Advisor identifies and delivers to the Certificate Administrator for
posting to the Certificate Administrator’s Website shall be delivered to the Certificate Administrator via e-mail (or such
other electronic means as is mutually acceptable to the parties) in one or more separate files labeled “Excluded Information”
followed by the applicable loan name and loan file to cmbsexcludedinformation@wellsfargo.com. For the avoidance of doubt, any information
that is not appropriately labeled and delivered in accordance with this Section 3.32 shall not be separately posted as Excluded
Information on the Certificate Administrator’s Website, and any information appropriately labeled and delivered to the Certificate
Administrator pursuant to this Section shall be posted on the Certificate Administrator’s Website under the “Excluded
Information” section, as provided under Section 4.02(b). When so posted, Excluded Controlling Class Holders shall
be prohibited from the access of Excluded Information with respect to any Excluded Controlling Class Mortgage Loans on the Certificate
Administrator’s Website (unless loan-by-loan segregation is later performed by the Certificate Administrator in which case
such access shall only be prohibited with respect to the related Excluded Controlling Class Mortgage Loan(s)). None of the Master
Servicer, the Special Servicer or the Operating Advisor shall have any obligations to separately label and deliver any Excluded
Information in accordance with this Section 3.32 until such party has received notice with respect to the related Excluded Controlling
Class Mortgage Loan in the form of Exhibit L-1E to this Agreement. Nothing set forth in this Agreement shall prohibit the
Controlling Class Representative or any Controlling Class Certificateholder from receiving, requesting or reviewing any Excluded
Information relating to any Excluded Controlling Class Mortgage Loan with respect to which the Controlling Class Representative
or such Controlling Class Certificateholder is not a Borrower Party and, if such Excluded Information is not available on the Certificate
Administrator’s Website, such Controlling Class Representative or Controlling Class Certificateholder that is not a Borrower
Party with respect to the related Excluded Controlling Class Mortgage Loan shall be permitted to obtain such information in accordance
with Section 3.14(c).


 


Article IV



DISTRIBUTIONS TO CERTIFICATEHOLDERS


 


Section 4.01     Distributions.
(a) On each Distribution Date, amounts held in the Lower-Tier Distribution Account shall be withdrawn (to the extent of the
Available Funds, including or reduced by, to the extent required by Section 3.05(e) of this Agreement, the
Withheld Amounts, plus any amount withdrawn from the Gain-on-Sale Reserve Account pursuant to Section 3.05(i) of
this Agreement) in the case of all Classes of Lower-Tier Regular Interests (such amount, the “Lower-Tier
Distribution Amount”). On each Distribution Date, distributions in respect of principal shall be deemed to have
been made on each Class of Lower-Tier Regular Interests in an amount equal to the amount of principal actually distributed on
its respective Corresponding Certificates as provided in Section 4.01(b) of this Agreement. As of any date, the
principal balance of each Lower-Tier Regular Interest shall equal the Lower-Tier Principal Balance thereof. On each
Distribution Date, distributions of interest made in respect of any Class of Regular Certificates on each Distribution Date
pursuant to Section 4.01(b) or Section 9.01 of this Agreement shall be deemed to have first been
distributed from the Lower-


 






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Tier REMIC to the Upper-Tier REMIC in respect of its Corresponding Lower-Tier Regular Interest(s)
set forth in the Preliminary Statement to this Agreement; provided that each Lower-Tier Regular Interest shall be
deemed to have received distributions in respect of interest in an amount equal to the Interest Distribution Amount in
respect of the Class X-A Strip Rate, Class X-B Strip Rate, Class X-C Strip Rate, Class X-D Strip Rate, Class X-E Strip Rate
or Class X-F Strip Rate of its Corresponding Component, as applicable, in each case to the extent actually distributed to the
related Class of Corresponding Certificates as provided in Section 4.01(b) of this Agreement; and provided, further,
that distributions of principal or reimbursement of Realized Losses and Additional Trust Fund Expenses with respect to a
Class of Certificates having more than one Corresponding Lower-Tier Regular Interest, shall be allocated sequentially to the
Corresponding Lower-Tier Regular Interests for such Class, starting with the Corresponding Lower-Tier Regular Interest having
the lowest alphanumeric designation.


 


All distributions of reimbursements
of Realized Losses and Additional Trust Fund Expenses made in respect of any Class of Sequential Pay Certificates on each Distribution
Date pursuant to Section 4.01(b) of this Agreement shall be deemed to have first been distributed from the Lower-Tier
REMIC to the Upper-Tier REMIC in respect of its Corresponding Lower-Tier Regular Interest set forth in the Preliminary Statement
to this Agreement; provided, that distributions of reimbursements of Realized Losses and Additional Trust Fund Expenses
shall be made in sequential order of the priority set forth in this Section 4.01(a) for principal distributions, up
to the amount of Realized Losses and Additional Trust Fund Expenses previously allocated to a particular Lower-Tier Regular Interest
corresponding to such Class of Certificates.


 


On each Distribution Date, the Certificate
Administrator shall apply amounts related to each Prepayment Premium and Yield Maintenance Charge then on deposit in the Lower-Tier
Distribution Account and received during or prior to the related Collection Period to the Lower-Tier Regular Interests in proportion
to the amount of principal deemed distributed to each Class of Lower-Tier Regular Interests on such Distribution Date pursuant
to this Section 4.01(a).


 


The Certificate Administrator shall
be deemed to deposit the Lower-Tier Distribution Amount and the amount of any Prepayment Premiums and any Yield Maintenance Charges
distributed to the Upper-Tier REMIC pursuant to this Section 4.01(a) into the Upper-Tier Distribution Account. Any
amount in respect of the Mortgage Pool that remains in the Lower-Tier Distribution Account on each Distribution Date after the
deemed distribution described in the preceding sentence shall be distributed to the Holders of the Class R Certificates with
respect to the Class R Certificates (in respect of the Class LTR Interest) (but only to the extent of such amount for such Distribution
Date remaining in the Lower-Tier Distribution Account, if any).


 






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(b)          On each Distribution Date occurring
prior to the Cross-Over Date, the Certificate Administrator shall withdraw from the Upper-Tier Distribution Account the amounts
deposited in the Upper-Tier Distribution Account in respect of such Distribution Date pursuant Section 4.01(a) of this
Agreement, and distribute such amount to the Holders of the Regular Certificates in the amounts and in the order of priority set
forth below:


 


(i)          First,
to the Class A-1, Class A-2, Class A-SB, Class A-3A, Class A-3B, Class A-4, Class X-A, Class X-B, Class
X-C, Class X-D, Class X-E and Class X-F Certificates, in respect of interest, up to an amount equal to, and pro rata in
accordance with, the respective aggregate Interest Distribution Amount for those Classes;


 


(ii)          Second,
to the Class A-1, Class A-2, Class A-SB, Class A-3A, Class A-3B and Class A-4 Certificates, in reduction of the
Certificate Balances thereof, in the following priority:


 


(A)          first, to the
Class A-SB Certificates, in reduction of the Certificate Balance thereof, an amount equal to the Principal Distribution Amount
for such Distribution Date, until the Certificate Balance of such Class is reduced to the Class A-SB Planned Principal Balance;


 


(B)          second, to
the Class A-1 Certificates, in reduction of the Certificate Balance thereof, an amount equal to the Principal Distribution
Amount (or the portion of it remaining after distributions on the Class A-SB Certificates pursuant to (A) above in this clause (b)(iii))
for such Distribution Date, until the Certificate Balance of such Class is reduced to zero;


 


(C)          third, to the
Class A-2 Certificates, in reduction of Certificate Balance thereof, an amount equal to the Principal Distribution Amount
(or the portion of it remaining after distributions on the Class A-1 and Class A-SB Certificates pursuant to (A) and
(B) above in this clause (b)(iii)) for such Distribution Date, until the aggregate Certificate Balance of such Class is reduced
to zero;


 


(D)          fourth, to
the Class A-3A and Class A-3B Certificates, pro rata, in reduction of the Certificate Balances thereof, an amount equal
to the Principal Distribution Amount (or the portion of it remaining after distributions on the Class A-1, Class A-2
and Class A-SB Certificates pursuant to (A), (B) and (C) above in this clause (b)(iii)) for such Distribution Date, until
the Certificate Balance of each such Class is reduced to zero;


 


(E)          fifth, to the
Class A-4 Certificates, in reduction of the Certificate Balance thereof, an amount equal to the Principal Distribution Amount
(or the portion of it remaining after distributions on the Class A-1, Class A-2, Class A-SB, Class A-3A and Class
A-3B Certificates pursuant to (A), (B), (C) and (D) above in this clause (b)(iii)) for such Distribution Date, until the Certificate
Balance of such Class is reduced to zero;


 






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(F)          sixth, to the
Class A-SB Certificates, in reduction of the Certificate Balance thereof, an amount equal to the Principal Distribution Amount
(or the portion of it remaining after distributions on the Class A-1, Class A-2, Class A-3A, Class A-3B, Class A-4 and
Class A-SB Certificates pursuant to (A), (B), (C), (D) and (E) above in this clause (b)(iii)) for such Distribution Date,
until the Certificate Balance of such Class is reduced to zero;


 


(iii)          Third,
to the Class A-1, Class A-2, Class A-3A, Class A-3B, Class A-4 and Class A-SB Certificates, up to an amount equal
to, and pro rata based upon, the aggregate unreimbursed Realized Losses previously allocated to those Classes of Certificates;


 


(iv)          Fourth,
to the Class A-M Certificates in respect of interest, up to an amount equal to the aggregate Interest Distribution Amount
of such Class;


 


(v)           Fifth,
to the Class A-M Certificates, in reduction of the Certificate Balance thereof, an amount equal to the Principal Distribution
Amount less amounts of Principal Distribution Amount distributed pursuant to all prior clauses, until the Certificate Balance of
such Class A-M is reduced to zero;


 


(vi)          Sixth,
to the Class A-M Certificates, up to an amount equal to the aggregate of unreimbursed Realized Losses previously allocated
to such Class;


 


(vii)         Seventh,
to the Class B Certificates in respect of interest, up to an amount equal to the aggregate Interest Distribution Amount of
such Class;


 


(viii)        Eighth,
to the Class B Certificates, in reduction of the Certificate Balance thereof, an amount equal to the Principal Distribution
Amount less amounts of Principal Distribution Amount distributed pursuant to all prior clauses, until the Certificate Balance of
such Class is reduced to zero;


 


(ix)          Ninth,
to the Class B Certificates, up to an amount equal to the aggregate of unreimbursed Realized Losses previously allocated to
such Class;


 


(x)           Tenth,
to the Class C Certificates in respect of interest, up to an amount equal to the aggregate Interest Distribution Amount of
such Class;


 


(xi)          Eleventh,
to the Class C Certificates, in reduction of the Certificate Balance thereof, an amount equal to the Principal Distribution
Amount less amounts of Principal Distribution Amount distributed pursuant to all prior clauses, until the Certificate Balance of
such Class C is reduced to zero;


 


(xii)         Twelfth,
to the Class C Certificates, up to an amount equal to the aggregate of unreimbursed Realized Losses previously allocated to
such Class;


 


(xiii)        Thirteenth,
to the Class D Certificates in respect of interest, up to an amount equal to the aggregate Interest Distribution Amount of
such Class;


 


(xiv)        Fourteenth,
to the Class D Certificates, in reduction of the Certificate Balance thereof, an amount equal to the Principal Distribution
Amount less amounts of


 






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Principal Distribution Amount distributed pursuant to all prior clauses, until the Certificate Balance of
such Class is reduced to zero;


 


(xv)          Fifteenth,
to the Class D Certificates, up to an amount equal to the aggregate of unreimbursed Realized Losses previously allocated to
such Class;


 


(xvi)         Sixteenth,
to the Class E Certificates in respect of interest, up to an amount equal to the aggregate Interest Distribution Amount of
such Class;


 


(xvii)        Seventeenth,
to the Class E Certificates in reduction of the Certificate Balance thereof, an amount equal to the Principal Distribution
Amount, less amounts of Principal Distribution Amount distributed pursuant to all prior clauses, until the Certificate Balance
of such Class is reduced to zero;


 


(xviii)       Eighteenth,
to the Class E Certificates, up to an amount equal to the aggregate of unreimbursed Realized Losses previously allocated to
such Class;


 


(xix)          Nineteenth,
to the Class F Certificates in respect of interest, up to an amount equal to the aggregate Interest Distribution Amount of
such Class;


 


(xx)          Twentieth,
to the Class F Certificates in reduction of the Certificate Balance thereof, an amount equal to the Principal Distribution
Amount less the amount of the Principal Distribution Amount distributed pursuant to all prior clauses, until the Certificate Balance
of such Class is reduced to zero;


 


(xxi)         Twenty-first,
to the Class F Certificates, up to an amount equal to the aggregate of unreimbursed Realized Losses previously allocated to
such Class;


 


(xxii)        Twenty-second,
to the Class G Certificates in respect of interest, up to an amount equal to the aggregate Interest Distribution Amount of
such Class;


 


(xxiii)       Twenty-third,
to the Class G Certificates in reduction of the Certificate Balance thereof, an amount equal to the Principal Distribution
Amount less the amount of the Principal Distribution Amount distributed pursuant to all prior clauses, until the Certificate Balance
of such Class is reduced to zero;


 


(xxiv)       Twenty-fourth,
to the Class G Certificates, up to an amount equal to the aggregate of unreimbursed Realized Losses previously allocated to
such Class;


 


(xxv)        Twenty-fifth,
to the Class H Certificates in respect of interest, up to an amount equal to the aggregate Interest Distribution Amount of
such Class;


 


(xxvi)       Twenty-sixth,
to the Class H Certificates in reduction of the Certificate Balance thereof, an amount equal to the Principal Distribution
Amount less the amount of the Principal Distribution Amount distributed pursuant to all prior clauses, until the Certificate Balance
of such Class is reduced to zero;


 


(xxvii)      Twenty-seventh,
to the Class H Certificates, up to an amount equal to the aggregate of unreimbursed Realized Losses previously allocated to
such Class; and


 






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(xxviii)     Twenty-eighth,
to the Class R Certificates (in respect of the Class UTR Interest), any amounts remaining in the Upper-Tier Distribution Account.


 


(c)          Notwithstanding the foregoing,
on each Distribution Date occurring on and after the Cross-Over Date, regardless of the allocation of principal payments described
in priority Second above, the Principal Distribution Amount for such Distribution Date will be distributed to the Class
A-1, Class A-2, Class A-SB, Class A-3A, Class A-3B and Class A-4 Certificates, pro rata, based on their respective
Certificate Balances, in reduction of their respective Certificate Balances, until the Certificate Balance of each such Class of
Certificates is reduced to zero.


 


(d)          On each Distribution Date, following
the distribution from the Lower-Tier Distribution Account in respect of the Lower-Tier Regular Interests pursuant to Section 4.01(a)
of this Agreement, the Certificate Administrator shall make distributions of any Prepayment Premiums and Yield Maintenance Charges
received in the related Collection Period from amounts deposited in the Upper-Tier Distribution Account pursuant to Section 3.05(f)
of this Agreement, as follows:


 


Prepayment Premiums and Yield Maintenance
Charges received with respect to the Mortgage Loans shall be distributed to the Class A-1, Class A-2, Class A-SB, Class
A-3A, Class A-3B, Class A-4, Class A-M, Class B, Class C and Class D Certificates in an amount equal to, in the case
of each such Class, the product of (a) a fraction, not greater than one, the numerator of which is the amount distributed
as principal to such Class on such Distribution Date, and whose denominator is the total amount distributed as principal to the
Class A-1, Class A-2, Class A-SB, Class A-3A, Class A-3B, Class A-4, Class A-M, Class B, Class C, Class D, Class
E, Class F, Class G and Class H Certificates on such Distribution Date, (b) the Base Interest Fraction for the related Principal
Prepayment and such Class of Certificates and (c) the aggregate amount of the Prepayment Premiums or the Yield Maintenance
Charges, as applicable, collected on such Principal Prepayment during the related Collection Period.


 


Any Yield Maintenance Charges or Prepayment
Premiums collected during the related Collection Period remaining after such distributions described in the preceding paragraphs
(the “IO Group YM Distribution Amount”) shall be allocated and distributed in the following manner:


 


(i)          to the Class X-A
Certificates, in an amount equal to the product of (a) a fraction, the numerator of which is the aggregate amount of principal
distributed on the Class A-1, Class A-2, Class A-SB, Class A-3A, Class A-3B, Class A-4 and Class A-M Certificates
on such Distribution Date and the denominator of which is the total Principal Distribution amount in respect of such Distribution
Date, multiplied by (b) the IO Group YM Distribution Amount;


 


(ii)         to the Class X-B
Certificates, in an amount equal to the product of (a) a fraction, the numerator of which is the aggregate amount of principal
distributed on the Class B and Class C Certificates on such Distribution Date and the denominator of which is the total Principal
Distribution Amount in respect of such Distribution Date, multiplied by (b), the IO Group YM Distribution Amount;


 






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(iii)        to the Class X-C
Certificates, in an amount equal to the product of (a) a fraction, the numerator of which is the amount of principal distribution
to the Class D Certificates on such Distribution Date and the denominator of which is the total Principal Distribution Amount
in respect of such Distribution Date, multiplied by (b) the IO Group YM Distribution Amount;


 


(iv)        to the Class X-D
Certificates, in an amount equal to the product of (a) a fraction, the numerator of which is the amount of principal distribution
to the Class E Certificates on such Distribution Date and the denominator of which is the total Principal Distribution Amount
in respect of such Distribution Date, multiplied by (b) the IO Group YM Distribution Amount;


 


(v)         to the Class X-E
Certificates, in an amount equal to the product of (a) a fraction, the numerator of which is the aggregate amount of principal
distribution to the Class F and Class G Certificates on such Distribution Date and the denominator of which is the total Principal
Distribution Amount in respect of such Distribution Date, multiplied by (b) the IO Group YM Distribution Amount; and


 


(vi)        to the Class X-F
Certificates, the IO Group YM Distribution Amount remaining after such distribution to the holders of the Class X-A, Class X-B,
Class X-C, Class X-D and Class X-E Certificates described in (i) through (v) above.


 


(e)          On each Distribution Date, the
Certificate Administrator shall withdraw amounts from the Gain-on-Sale Reserve Account (or sub-account thereof) and shall distribute
such amounts in the following manner:


 


(i)          (A) from
amounts in the Gain-on-Sale Reserve Account allocable to a Mortgage Loan (other than a Mortgage Loan related to a Serviced Whole
Loan), to reimburse the Holders of the Regular Certificates (other than the Class X-A, Class X-B, Class X-C, Class X-D, Class X-E
and Class X-F Certificates) (in the same order as that set forth in Section 4.01(b) of this Agreement, up to an amount equal
to all Realized Losses and Additional Trust Fund Expenses, if any, previously allocated to them and unreimbursed after application
of Available Funds for such Distribution Date; and (B) from amounts in the Gain-on-Sale Reserve Account allocable to the Serviced
Whole Loans, first, in accordance with the terms of the related Intercreditor Agreement, and then, to the extent
allocated to the related Mortgage Loan, pursuant to the terms of such Intercreditor Agreement, to reimburse the Holders of the
Regular Certificates (other than Class X-A, Class X-B, Class X-C, Class X-D, Class X-E and Class X-F Certificates), up to an amount
equal to all Realized Losses and Additional Trust Fund Expenses, if any, previously allocated to them and unreimbursed after application
of Available Funds for such Distribution Date; and


 


(ii)          any amounts
remaining in the Gain-on-Sale Reserve Account after such distributions on any Distribution Date that (A) are allocable to
the Mortgage Loans, shall be held and maintained in such account and applied to offset future Realized Losses and Additional Trust
Fund Expenses from time to time; and (B) are allocable to the Serviced


 






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Companion Loans, shall be remitted within one Business
Day after each such Distribution Date by the Certificate Administrator to the Master Servicer (which shall remit to the Serviced
Companion Loan Noteholders in accordance with Section 3.05(h)). On any Distribution Date, amounts held in the Gain-on-Sale
Reserve Account (other than amounts allocable to any related Serviced Companion Loan pursuant to the terms of any related Intercreditor
Agreement) that exceed amounts reasonably required (as determined by the Certificate Administrator) to offset future Realized Losses
and Additional Trust Fund Expenses shall be distributed to the Holders of the Class R Certificates (in respect of the Class LTR
Interest) and upon termination of the Trust Fund, any amounts remaining in the Gain-on-Sale Reserve Account (other than amounts
allocable to any related Serviced Companion Loan pursuant to the terms of any related Intercreditor Agreement) shall be distributed
by the Certificate Administrator to the Class R Certificates (in respect of the Class LTR Interest). Amounts paid with respect
to the Mortgage Loans from the Gain-on-Sale Reserve Account pursuant to the preceding clauses (i) and (ii) shall first
be deemed to have been distributed to the Lower-Tier Regular Interests in reimbursement of Realized Losses and Additional Trust
Fund Expenses previously allocated thereto in the same manner as provided in Section 4.01(a) of this Agreement. Amounts
paid from the Gain-on-Sale Reserve Account will not reduce the Certificate Balances of any Class of Regular Certificates receiving
such distributions.


 


(f)          On each Distribution Date, immediately
following the distributions to be made on such date pursuant to Section 4.01(b), the Certificate Administrator shall
calculate the amount, if any, of Realized Losses. Any allocation of Realized Losses to any Class of Regular Certificates (other
than the Class X-A, Class X-B, Class X-C, Class X-D, Class X-E and Class X-F Certificates) shall be made by reducing the Certificate
Balance thereof by the amount so allocated. Any Realized Losses so allocated to any Class of Regular Certificates (other than the
Class X-A, Class X-B, Class X-C, Class X-D, Class X-E and Class X-F Certificates) shall be allocated among the respective Certificates
of such Class in proportion to the Percentage Interests evidenced thereby. The allocation of Realized Losses shall constitute an
allocation of losses and other shortfalls experienced by the Trust Fund. Reimbursement of previously allocated Realized Losses
will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate
Balance of the Class of Certificates in respect of which any such reimbursement is made. To the extent any Nonrecoverable Advances
(plus interest thereon) that were reimbursed from principal collections on the Mortgage Loans and previously resulted in a reduction
of the Principal Distribution Amount are subsequently recovered on the related Mortgage Loan, the amount of such recovery will
be added to the Certificate Balance of the Classes of Regular Certificates (other than the Class X-A, Class X-B, Class X-C, Class
X-D, Class X-E and Class X-F Certificates) that previously were allocated Realized Losses, first, to the Class A-1, Class
A-2, Class A-SB, Class A-3A, Class A-3B and Class A-4 Certificates, pro rata, then to the remainder of the Regular
Certificates (other than the Class X Certificates) in sequential order, in each case up to the amount of the unreimbursed Realized
Losses allocated to such Class of Certificates. If the Certificate Balance of any Class of Certificates is so increased, the amount
of unreimbursed Realized Losses of such Class of Certificates shall be decreased by such amount.


 


The Certificate Balances of each Class
of Sequential Pay Certificates will be reduced without distribution on any Distribution Date as a write-off to the extent of any
Realized


 






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Losses allocated to such Class of Certificates with respect to such date. Any such write-offs will be applied to the Classes
of Sequential Pay Certificates in the following order, in each case until the Certificate Balance of such Class is reduced to zero:
first, to the Class H Certificates; second, to the Class G Certificates; third, to the Class F Certificates;
fourth, to the Class E Certificates; fifth, to the Class D Certificates; sixth, to the Class C Certificates;
seventh, to the Class B Certificates; eighth, to the Class A-M Certificates; and finally, to the
Class A-1, Class A-2, Class A-SB, Class A-3A, Class A-3B and Class A-4 Certificates, pro rata, based on their
respective Certificate Balances. Any amounts recovered in respect of amounts previously written off as Realized Losses shall be
distributed on the Classes of Sequential Pay Certificates as a recovery of Realized Losses previously allocated to such Classes
of Sequential Pay Certificates in reverse order of allocation of Realized Losses thereto in accordance with Section 4.01(b)
of this Agreement. Additional Trust Fund Expenses and shortfalls in Available Funds due to extraordinary expenses of the Trust
Fund (including indemnification expenses), a reduction in the Mortgage Rate on a Mortgage Loan by a bankruptcy court pursuant to
a plan of reorganization or pursuant to any of its equitable powers, or otherwise, shall be treated as and allocated in the same
manner as Realized Losses.


 


With respect to any Distribution Date,
any Realized Losses allocated pursuant to Section 3.06 of this Agreement with respect to such Distribution Date shall
reduce the Lower-Tier Principal Balances of the Lower-Tier Regular Interests as a write-off and shall be allocated among the Lower-Tier
Regular Interests in the same priority as the Class of Corresponding Certificates.


 


(g)          All amounts distributable to
a Class of Certificates pursuant to this Section 4.01 on each Distribution Date shall be allocated pro rata
among the outstanding Certificates in each such Class based on their respective Percentage Interests. Such distributions shall
be made on each Distribution Date other than the Termination Date to each Certificateholder of record on the related Record Date,
(i) by wire transfer of immediately available funds to the account of such Holder at a bank or other entity located in the
United States and having appropriate facilities therefor if such Holder shall have provided the Paying Agent with wire instructions
in writing at least five Business Days prior to the related Record Date (which wiring instructions may be in the form of a standing
order applicable to all subsequent distributions), or (ii) otherwise, by check mailed by first-class mail to the address set
forth therefor in the Certificate Register. The final distribution on each Certificate shall be made in like manner, but only upon
presentment and surrender of such Certificate at the office of the Certificate Administrator or its agent (which may be the Paying
Agent or the Certificate Registrar acting as such agent) that is specified in the notice to Holders of such final distribution.


 


(h)          Except as otherwise provided
in Section 9.01 with respect to an Anticipated Termination Date, the Certificate Administrator shall, as soon as reasonably
practicable within the month preceding the month in which the final distribution with respect to any Class of Certificates is expected
to be made, mail to each Holder of such Class of Certificates on such date a notice to the effect that:


 


(A)          the Certificate Administrator
reasonably expects based upon information previously provided to it that the final distribution with respect to such Class of Certificates
will be made on such Distribution Date, but only upon


 






    	-314-



    	 



    

 


presentation and surrender of such Certificates at the office of the Certificate
Administrator therein specified, and


 


(B)          if such final distribution
is made on such Distribution Date, no interest shall accrue on such Certificates from and after such Distribution Date;


 


provided, that the Class R Certificates shall
remain outstanding until no other Class of Certificates or Lower-Tier Regular Interests are outstanding.


 


Any funds not distributed to any Holder
or Holders of such Classes of Certificates on such Distribution Date because of the failure of such Holder or Holders to tender
their Certificates shall, on such date, be set aside and held for the benefit of the appropriate non-tendering Holder or Holders.
If any Certificates as to which notice has been given pursuant to this Section 4.01(h) shall not have been surrendered
for cancellation within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice
to the remaining non-tendering Holders to surrender their Certificates for cancellation to receive the final distribution with
respect thereto. If within one year after the second notice not all of such Certificates shall have been surrendered for cancellation,
the Certificate Administrator may, directly or through an agent, take appropriate steps to contact the remaining non-tendering
Holders concerning surrender of their Certificates. The costs and expenses of holding such funds in trust and of contacting such
Holders shall be paid out of such funds. Subject to applicable state escheatment laws, if within two years after the second notice
any such Certificates shall not have been surrendered for cancellation, the Paying Agent shall distribute to the Certificate Administrator
all amounts distributable to the Holders thereof, and the Certificate Administrator shall thereafter hold such amounts for the
benefit of such Holders until the earlier of (i) its termination as Certificate Administrator hereunder and the transfer of
such amounts to a successor Certificate Administrator and (ii) the termination of the Trust Fund and distribution of such
amounts to the Class R Certificateholders. No interest shall accrue or be payable to any Holder on any amount held hereunder or
by the Certificate Administrator as a result of such Holder’s failure to surrender its Certificate(s) for final payment thereof
in accordance with this Section 4.01(h). Any such amounts transferred to the Certificate Administrator may be invested
in Permitted Investments and all income and gain realized from investment of such funds shall accrue for its benefit.


 


(i)          Shortfalls in Available Funds
resulting from Excess Prepayment Interest Shortfalls shall be allocated to, and Compensating Interest Payments shall be deemed
distributed to, each Class of Regular Certificates and, in each case, correspondingly to the respective Class or Classes of Corresponding
Lower-Tier Regular Interests, pro rata, based upon the Interest Accrual Amount distributable to each such Class of Certificates
prior to reduction by such Excess Prepayment Interest Shortfalls. Compensating Interest Payments shall be deposited by the Master
Servicer into the Collection Account on or prior to the Master Servicer Remittance Date.


 


(j)          On the final Master Servicer
Remittance Date, the Master Servicer shall withdraw from the Collection Account and deliver to the Certificate Administrator who
shall distribute to the Mortgage Loan Sellers, any Loss of Value Payments relating to the Mortgage Loans that it is servicing and
that were transferred from the Loss of Value Reserve Fund to the


 






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Collection Account on the immediately preceding Master Servicer
Remittance Date in accordance with Section 3.06(e)(v) of this Agreement.


 


(k)          [Reserved.]


 


(l)           [Reserved.]


 


Section 4.02     Statements
to Certificateholders; Reports by Certificate Administrator; Other Information Available to the Holders and Others. (a)
On each Distribution Date, the Certificate Administrator shall prepare and make available on the Certificate
Administrator’s Website to each Certificateholder a statement (substantially in the form set forth as Exhibit K
to this Agreement and based on the information set forth in (i) the CREFC® Investor Reporting Package
(CREFC® IRP) prepared by the Master Servicer (other than the CREFC® Special Servicer Loan File)
and the other reports prepared by the Master Servicer, Certificate Administrator and Special Servicer relating to such
Distribution Date, including the CREFC® Special Servicer Loan File, upon which information the Certificate
Administrator may conclusively rely, in accordance with CREFC® guidelines and (ii) the
CREFC® Reconciliation of Funds Template prepared by the Certificate Administrator) as to distributions made on
such Distribution Date (each, a “Distribution Date Statement”) setting forth (with respect to each Class
of Certificates) the following information:


 


(i)           the Record Date,
Interest Accrual Period, and Determination Date for such Distribution Date;


 


(ii)          [reserved];


 


(iii)          the aggregate
amount of the distribution to be made on such Distribution Date to the Holders of each Class of Sequential Pay Certificates allocable
to (A) the Interest Accrual Amount, and/or (B) Interest Shortfalls;


 


(iv)         the aggregate
amount of Advances made in respect of the Distribution Date and the amount of interest paid on Advances since the prior Distribution
Date (including, to the extent material, the general use of funds advanced and general source of funds for reimbursements);


 


(v)          the aggregate
amount of compensation, if any, paid to the Trustee, the Certificate Administrator, CREFC®, the Operating Advisor
and the Asset Representations Reviewer and servicing compensation, if any, paid to the Master Servicer and the Special Servicer
for the related Determination Date and any other fees or expenses accrued and paid from the Trust Fund;


 


(vi)         (A) the Available
Funds for the Distribution Date, (B) the total amount of all principal and/or interest distributions, as well as any other distributions
(other than Yield Maintenance Charges), properly made on or in respect of any Class of Regular Certificates with respect to such
Distribution Date and (C) any other cash flows received on the Mortgage Loans and applied to pay fees and expenses (including the
components of the Available Funds, or such other cash flows);


 






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(vii)        the amount
of the distribution on the Distribution Date to the holders of any Class of Regular Certificates allocable to Prepayment Premiums
and Yield Maintenance Charges;


 


(viii)       the accrued
Interest Accrual Amount in respect of each Class of Regular Certificates for such Distribution Date;


 


(ix)          the Pass-Through
Rate for each Class of Regular Certificates for the Distribution Date and the next succeeding Distribution Date;


 


(x)          the Principal
Distribution Amount for the Distribution Date;


 


(xi)          the aggregate
Certificate Balance or aggregate Notional Amount, as the case may be, of each Class of Certificates (other than the Class R Certificates),
immediately before and immediately after such Distribution Date, separately identifying any reduction in the aggregate Certificate
Balance (or, if applicable, the aggregate Notional Amount) of each such Class as a result of the allocation of any Realized Loss
and/or Additional Trust Fund Expenses on such Distribution Date;


 


(xii)         the fraction,
expressed as a decimal carried to at least eight places, the numerator of which is the then related Certificate Balance, and the
denominator of which is the related initial aggregate Certificate Balance, for each Class of Regular Certificates immediately following
the Distribution Date;


 


(xiii)        the amount
of any Appraisal Reduction Amounts, Collateral Deficiency Amounts and Cumulative Appraisal Reduction Amounts allocated during the
related Collection Period on a loan-by-loan basis; and the total Appraisal Reduction Amounts, Collateral Deficiency Amounts and
Cumulative Appraisal Reduction Amounts as of such Distribution Date on a loan-by-loan basis;


 


(xiv)       the number
and related Stated Principal Balance of any Mortgage Loans modified, extended or waived on a loan-by-loan basis since the previous
Determination Date (including a description of any material modifications, extensions or waivers to Mortgage Loan terms, fees,
penalties or payments during the Collection Period or that have cumulatively become material over time);


 


(xv)        the amount
of any remaining unpaid Interest Shortfalls for each Class of Regular Certificates as of the Distribution Date;


 


(xvi)       an loan-by-loan
listing of each Mortgage Loan which was the subject of a Principal Prepayment (other than Liquidation Proceeds and Insurance Proceeds)
during the related Collection Period and the amount of Principal Prepayment occurring, together with the aggregate amount of Principal
Prepayments made during the related Collection Period;


 


(xvii)      an loan-by-loan
listing of each Mortgage Loan which was defeased since the previous Determination Date;


 






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(xviii)     the amount
of the distribution to the holders of each Class of Certificates on the Distribution Date attributable to reimbursement of Realized
Losses;


 


(xix)        as to any
Mortgage Loan repurchased by a Mortgage Loan Seller or otherwise liquidated or disposed of during the related Collection Period,
(A) the Loan Number of the related Mortgage Loan and (B) the amount of proceeds of any repurchase of a Mortgage Loan,
Liquidation Proceeds and/or other amounts, if any, received thereon during the related Collection Period and the portion thereof
included in the Available Funds for such Distribution Date;


 


(xx)         the amount
on deposit in each of the Interest Reserve Account and the Gain-on-Sale Reserve Account before and after giving effect to the distribution
made on such Distribution Date (and any material account activity since the prior Distribution Date);


 


(xxi)        the then-current
credit support levels for each Class of Sequential Pay Certificates;


 


(xxii)       the original
and then-current ratings of each Class of Certificates (other than the Class R Certificates);


 


(xxiii)      with respect
to any REO Loan as to which the related Mortgaged Property became an REO Property during the preceding calendar month, the city,
state, property type, latest Debt Service Coverage Ratio and the current Stated Principal Balance;


 


(xxiv)      with respect
to any REO Property included in the Trust Fund at the close of business on the related Determination Date (A) the Loan Number
of the related Mortgage Loan and (B) the value of such REO Property based on the most recent Appraisal or valuation;


 


(xxv)       with respect
to any Serviced REO Property sold or otherwise disposed of during the related Collection Period and for which a Final Recovery
Determination has been made, (A) the Loan Number of the related Mortgage Loan, (B) the Realized Loss attributable to the related
Mortgage Loan, (C) the amount of sale proceeds and other amounts, if any, received in respect of such Serviced REO Property
during the related Collection Period and the portion thereof included in the Available Funds for such Distribution Date, (D) the
date of the Final Recovery Determination and (E) the balance of the Gain-on-Sale Reserve Account for such Distribution Date;


 


(xxvi)      the amount
of the distribution on the Distribution Date to the holders of the Class R Certificates;


 


(xxvii)     material
breaches of Mortgage Loan representations and warranties or any covenants under this Agreement of which the Certificate Administrator
has received or delivered written notice;


 


(xxviii)    the identity
of the Operating Advisor;


 






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(xxix)       the amount
of Realized Losses, Additional Trust Fund Expenses and Interest Shortfalls, if any, incurred with respect to the Mortgage Loans
during the related Collection Period and in the aggregate for all prior Collection Periods (except to the extent reimbursed or
paid);


 


(xxx)       an itemized
listing of any Disclosable Special Servicer Fees received by the Special Servicer or any of its Affiliates during the related Collection
Period;


 


(xxxi)       the identity
of the Controlling Class;


 


(xxxii)     the identity
of the Controlling Class Representative; and


 


(xxxiii)    such other
information as contemplated by Exhibit K to this Agreement.


 


In the case of information furnished
pursuant to sub-clauses (ii), (iii), (v), (vii), (viii), (xv) and (xviii) above, the amounts shall be expressed as a dollar
amount in the aggregate for all Certificates of each applicable Class and per $1,000 of original Certificate Balance or Notional
Amount, as the case may be.


 


The Master Servicer may omit from the
reports that it delivers to the Certificate Administrator (and the Special Servicer may omit from the reports it delivers to the
Master Servicer) in connection with the preparation of the Distribution Date Statement any information that the Master Servicer
or the Special Servicer, as applicable, regards as confidential, so long as such information is not required to be disclosed pursuant
to Item 1125 of Regulation AB. None of the Master Servicer, the Special Servicer, the Trustee or the Certificate Administrator
shall be responsible for the accuracy or completeness of any information supplied to it by a Borrower, the Depositor, any Sponsor,
any party to this Agreement or a master servicer, a special servicer or other similar party under an Other PSA or other third party
that is included in any reports, statements, materials or information prepared or provided by the Master Servicer, the Special
Servicer, the Trustee or the Certificate Administrator, as applicable.


 


If and for so long as the Trust is
subject to the reporting requirements of the Exchange Act, no Distribution Date Statement that is part of any SEC filing shall
include references to the Rating Agencies or any ratings ascribed by any Rating Agency to any Class of Certificates.


 


On each Distribution Date, the Certificate
Administrator shall make available to each Holder of a Class R Certificate a copy of the reports made available to the other Certificateholders
on such Distribution Date and a statement setting forth the amounts, if any, actually distributed with respect to the Class R Certificates
on such Distribution Date. Such obligation of the Certificate Administrator shall be deemed to have been satisfied to the extent
that it provided substantially comparable information pursuant to any requirements of the Code as from time to time in force.


 


The Certificate Administrator has not
obtained and shall not be deemed to have obtained actual knowledge of any information only by virtue of its receipt and posting
of such information to the Certificate Administrator’s Website, unless the Certificate Administrator has an explicit obligation
to review or prepare such information.


 






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Within a reasonable period of time
after the end of each calendar year, the Certificate Administrator shall furnish to each Person who at any time during the calendar
year was a Certificateholder of record, a report summarizing on an annual basis (if appropriate) the items provided to Certificateholders
pursuant to clauses (ii) and (iii) above as to the applicable Class, aggregated for such calendar year or applicable portion
thereof during which such person was a Certificateholder, together with such other information that the Certificate Administrator
deems necessary or desirable, or that a Certificateholder or Certificate Owner reasonably requests, to enable such Certificateholders
to prepare their federal income tax returns. Such information shall include the amount of original issue discount accrued on each
Class of Certificates held by Persons other than Holders exempted from the reporting requirements and information regarding the
expenses of the Trust Fund. Such requirement shall be deemed to be satisfied to the extent such information is provided pursuant
to applicable requirements of the Code from time to time in force.


 


On each Distribution Date, the Certificate
Administrator shall deliver the related Distribution Date Statement to the Depositor in electronic format to dbinvestor@list.db.com
(or to such other address as the Depositor shall specify by written notice to the Certificate Administrator).


 


Upon receipt of any Asset Review Report
Summary from the Asset Representations Reviewer required to be delivered pursuant to Section 11.04(e), the Certificate Administrator
shall include such summary in Item 1B on the Form 10-D for such period in which the Asset Review Report Summary was delivered.


 


(b)          The Certificate Administrator
shall make available via the Certificate Administrator’s Website, to any Privileged Person (provided that the Prospectus,
the Distribution Date Statements and the SEC filings will be made available to the general public, and provided further that any
Privileged Person that is a Borrower Party shall only be entitled to access documents made available to the general public) the
following items, in each case to the extent received by the Certificate Administrator:


 


(i)          the following
“deal documents”:


 


(A)          the Prospectus;


 


(B)          this Agreement, each
sub-servicing agreement delivered to the Certificate Administrator from and after the Closing Date (if any), the Mortgage Loan
Purchase Agreements and any amendments and exhibits hereto or thereto; and


 


(C)          the CREFC®
Loan Setup File delivered to the Certificate Administrator by the Master Servicer;


 


(ii)          the following
“SEC EDGAR filings”:


 


(A)          any reports on Forms
10-D, 10-K and 8-K that have been filed by the Certificate Administrator with respect to the Trust through the EDGAR system;


 






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(iii)          the following
“periodic reports”:


 


(A)          the Distribution Date
Statements;


 


(B)          the supplemental reports
and the CREFC® data files identified as such in the definition of “CREFC® Investor Reporting
Package (CREFC® IRP)” (other than the CREFC® Loan Setup File), to the extent it has received
or prepared such report or file; and


 


(C)          all Operating Advisor
Annual Reports.


 


(iv)          the following
“additional documents”:


 


(A)          the summary of any
Final Asset Status Report delivered to the Certificate Administrator in electronic format; and


 


(B)          any other Third Party
Reports (or updates thereto) delivered to the Certificate Administrator in electronic format;


 


(v)          the following
“special notices”:


 


(A)          any notice with respect
to a release pursuant to Section 3.10(h);


 


(B)          all Special Notices;


 


(C)          notice of any waiver,
modification or amendment of any term of any Mortgage Loan;


 


(D)          notice of final payment
on the Certificates;


 


(E)          all notices of the
occurrence of any Servicer Termination Events received by the Certificate Administrator;


 


(F)          notice of termination
or resignation of the Master Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor, the Asset Representations
Reviewer or the Trustee (and appointments of successors to the Master Servicer, the Special Servicer, the Certificate Administrator,
the Operating Advisor, the Asset Representations Reviewer or the Trustee);


 


(G)          any notice to Certificateholders
of the Operating Advisor’s recommendation to replace the Special Servicer and the related report prepared by the Operating
Advisor in connection with such recommendation;


 


(H)          any notice of any
request by requisite percentage of Certificateholders for a vote to terminate the Special Servicer, the Operating Advisor or the
Asset Representations Reviewer;


 






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(I)           notice of the Certificate
Administrator’s determination that an Asset Review Trigger is in effect and any other notice required to be delivered to
the Certificateholders pursuant to Section 11.01;


 


(J)           any Asset Review Report
Summary received by the Certificate Administrator;


 


(K)          any and all Officer’s
Certificates and other evidence delivered to or by the Certificate Administrator to support its or the Master Servicer’s,
the Trustee’s or the Special Servicer’s, as the case may be, determination that any Advance was (or, if made, would
be) a Nonrecoverable Advance;


 


(L)          any notice of the
termination of the Trust;


 


(M)         any notice of the
occurrence and continuance of a Control Termination Event;


 


(N)         any notice of the
occurrence of a Consultation Termination Event;


 


(O)         any notice of the
occurrence of an Operating Advisor Termination Event;


 


(P)          any notice of the
occurrence of an Asset Representations Reviewer Termination Event;


 


(Q)         any Proposed Course
of Action Notice;


 


(R)          all of the annual
compliance statements and annual assessments as to compliance delivered to the Certificate Administrator since the Closing Date
pursuant to Section 10.11 and Section 10.12 of this Agreement; and


 


(S)          all of the annual
independent public accountants’ servicing reports caused to be delivered to the Certificate Administrator since the Closing
Date pursuant to Section 10.13 of this Agreement;


 


(vi)       the Investor
Q&A Forum; and


 


(vii)       solely to
Certificateholders and Certificate Owners, the Investor Registry;


 


provided that with respect to
a Control Termination Event or a Consultation Termination Event deemed to exist due solely to the existence of an Excluded Loan,
the Certificate Administrator shall only be required to make available such notice of the occurrence and continuance of a Control
Termination Event or the notice of the occurrence and continuance of a Consultation Termination Event to the extent the Certificate
Administrator has been notified of such Excluded Loan.


 


Notwithstanding the foregoing, all
Excluded Information shall be made available under a separate tab or heading designated “Excluded Information” (and
not under any of the tabs or headings described in items (i) through (vii) above) and made available to Privileged


 






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Persons other
than Excluded Controlling Class Holders (unless loan-by-loan segregation is later performed by the Certificate Administrator in
which case such access by an Excluded Controlling Class Holder shall only be prohibited with respect to the related Excluded Controlling
Class Mortgage Loans).


 


Any Person that is a Borrower Party
shall only be entitled to access (a) the Distribution Date Statements, and the following items made available to the general public:
the Prospectus, this Agreement, the Mortgage Loan Purchase Agreements and the SEC filings on the Certificate Administrator’s
Website, and (b) in the case of the Controlling Class Representative or a Controlling Class Certificateholder, if any such Person
becomes an Excluded Controlling Class Holder, upon delivery to the Master Servicer, the Special Servicer, the Operating Advisor,
the Certificate Administrator and the Trustee in physical form of an investor certification substantially in the forms of Exhibit
L-1D and Exhibit L-1E and upon delivery to the Certificate Administrator in physical form of an investor certification
substantially in the form of Exhibit L-1F, which shall include each of the CTSLink User ID’s associated with such
Excluded Controlling Class Holder, all information (other than Excluded Information) available on the Certificate Administrator’s
Website (unless loan-by-loan segregation is later performed by the Certificate Administrator in which case such access by an Excluded
Controlling Class Holder shall only be prohibited with respect to the related Excluded Controlling Class Mortgage Loans).


 


In the case of the Controlling Class
Representative or a Controlling Class Certificateholder that is not an Excluded Controlling Class Holder, upon delivery of an investor
certification substantially in the form of Exhibit L-1B hereto, such Controlling Class Representative or Controlling Class
Certificateholder shall be entitled to access all information on the Certificate Administrator’s Website. The Master Servicer,
the Special Servicer, the Operating Advisor, the Certificate Administrator and the Trustee may each rely on (i) an investor certification
in the form of Exhibit L-1B hereto from the Controlling Class Representative or a Controlling Class Certificateholder to
the effect that such Person is not an Excluded Controlling Class Holder and (ii) an investor certification in the form of Exhibit
L-1D hereto from the Controlling Class Representative or a Controlling Class Certificateholder to the effect that such Person
is an Excluded Controlling Class Holder with respect to one or more Excluded Controlling Class Mortgage Loan(s). In the event the
Controlling Class Representative or a Controlling Class Certificateholder becomes an Excluded Controlling Class Holder, such party
shall promptly notify each of the Master Servicer, the Special Servicer, the Operating Advisor, the Certificate Administrator and
the Trustee in writing substantially in the form of Exhibit L-1E that such party is an Excluded Controlling Class Holder
and identify the Excluded Controlling Class Mortgage Loan(s) and thereafter shall not be entitled to any Excluded Information related
to such Excluded Controlling Class Mortgage Loan(s) and made available on the Certificate Administrator’s Website. With respect
to any Excluded Information, each of the Master Servicer, the Special Servicer and the Operating Advisor shall mark or label such
information as “Excluded Information” prior to delivery to the Certificate Administrator, and the Certificate Administrator
shall segregate on the Certificate Administrator’s Website such Excluded Information (and may be segregated on loan-by-loan
basis) from information relating to other Mortgage Loans. Notwithstanding anything herein to the contrary, each of the Master Servicer,
the Special Servicer, the Operating Advisor and the Certificate Administrator shall be entitled to conclusively assume that the
Controlling Class Representative and all beneficial owners of the Certificates of the Controlling Class are not Excluded Controlling
Class Holders except to the


 






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extent that the Master Servicer, the Special Servicer, the Operating Advisor or the Certificate Administrator,
as applicable, has received such notice from the Controlling Class Representative or a Controlling Class Certificateholder that
it has become an Excluded Controlling Class Holder. None of the Master Servicer, the Special Servicer, the Operating Advisor or
the Certificate Administrator shall be liable for any communication to the Controlling Class Representative or Controlling Class
Certificateholder or disclosure of Excluded Information if the Master Servicer, the Special Servicer, the Operating Advisor or
the Certificate Administrator, as applicable, did not receive prior written notice that the related Mortgage Loan is an Excluded
Controlling Class Mortgage Loan (including, in the case of a summary of an Asset Status Report or Final Asset Status Report delivered
to the Certificate Administrator for posting to the Certificate Administrator’s Website and/or any failure to label any such
information provided to the Certificate Administrator).


 


Each of the Master Servicer, the Special
Servicer, the Operating Advisor and the Certificate Administrator shall be entitled to conclusively rely on (i) any written notice
from the Controlling Class Representative or a Controlling Class Certificateholder that it is no longer an Excluded Controlling
Class Holder and (ii) any certification delivered by the Controlling Class Representative or a Controlling Class Certificateholder,
as applicable, substantially in the form of Exhibit L1-B that such Person is no longer an Excluded Controlling Class Holder.
To the extent the Controlling Class Representative or a Controlling Class Certificateholder receives access pursuant to this Agreement
to any Excluded Information on the Certificate Administrator’s Website or otherwise receives access to such Excluded Information,
such Controlling Class Representative or Controlling Class Certificateholder shall be deemed to have agreed that it (i) will not
directly or indirectly provide any information related to the Excluded Controlling Class Mortgage Loan to the related Borrower
or to any Excluded Controlling Class Holder or (A) any employees or personnel of such Controlling Class Representative or Controlling
Class Certificateholder or any Affiliate involved in the management of any investment in the related Borrower or the related Mortgaged
Property or (B) to its actual knowledge, any non-Affiliate that holds a direct or indirect ownership interest in the related Borrower,
and (ii) will maintain sufficient internal controls and appropriate policies and procedures in place in order to comply with the
obligations described in clause (i) above.


 


The Certificate Administrator makes
no representations or warranties as to the accuracy or completeness of such information and assumes no responsibility therefor.
In addition, the Certificate Administrator may disclaim responsibility for any information distributed by the Certificate Administrator
for which it is not the original source. The Certificate Administrator shall not be responsible for the accuracy or completeness
of any information supplied to it by the Master Servicer or Special Servicer that is included in any reports, statements, materials
or information prepared or provided by the Master Servicer or Special Servicer, as applicable, and the Certificate Administrator
shall be entitled to conclusively rely upon the Master Servicer’s reports and the Special Servicer’s reports without
any duty or obligation to recompute, verify or re-evaluate any of the amounts or other information stated therein. In connection
with providing access to the Certificate Administrator’s Internet website, the Certificate Administrator may require registration
and the acceptance of a disclaimer. The Certificate Administrator shall not be liable for the dissemination of information in accordance
herewith. Notwithstanding anything herein to the contrary, the Certificate Administrator shall not be liable for any Excluded Information
to the extent such information was included in any


 






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summary of an Asset Status Report or Final Asset Status Report delivered to
the Certificate Administrator for posting to the Certificate Administrator’s Website and not properly identified as Excluded
Information.


 


The Certificate Administrator shall
have no any liability for access by an Excluded Controlling Class Holder to the Certificate Administrator’s Website of any
information with respect to which such Excluded Controlling Class Holder is prohibited from accessing pursuant to this Agreement
if such Excluded Controlling Class Holder provided an Investor Certification but did not indicate it was a Borrower Party.


 


The provisions in this Section shall
not limit the Master Servicer’s ability to make accessible certain information regarding the Mortgage Loans at a website
maintained by the Master Servicer.


 


(c)          The Certificate Administrator
shall make available, only to Privileged Persons, the Investor Q&A Forum. The “Investor Q&A Forum” shall be
a service available on the Certificate Administrator’s Website, where (i) Certificateholders and Certificate Owners
who are Privileged Persons may (A) submit questions to the Certificate Administrator relating to the Distribution Date Statement,
(B) submit questions to the Master Servicer or the Special Servicer, as applicable, relating to the reports being made available
pursuant to this Section 4.02(c), the Mortgage Loans or the Mortgaged Properties (other than a Non-Serviced Mortgage
Loan or related Mortgaged Properties) and (C) submit questions to the Operating Advisor relating to the Operating Advisor
Annual Reports or actions by the Master Servicer or the Special Servicer as to which the Operating Advisor has consultation rights,
whether or not referenced in any Operating Advisor Annual Reports or other reports prepared by the Operating Advisor (collectively,
“Inquiries”), and (ii) Privileged Persons may view Inquiries that have been previously submitted and answered,
together with the answers thereto. Upon receipt of an Inquiry for the Master Servicer, the Special Servicer or the Operating Advisor,
the Certificate Administrator shall forward the Inquiry to the Master Servicer, the Special Servicer or the Operating Advisor,
as applicable, (and in the case of an inquiry relating to a Non-Serviced Mortgage Loan, to the applicable party under the Other
Pooling and Servicing Agreement) in each case within a commercially reasonable period following receipt thereof. Following receipt
of an Inquiry, the Certificate Administrator, the Master Servicer, the Special Servicer (other than with respect to the Non-Serviced
Mortgage Loans or related Mortgaged Properties) or the Operating Advisor, as applicable, unless it determines not to answer such
Inquiry as provided below, shall reply to the Inquiry, which reply of the Master Servicer, Special Servicer or the Operating Advisor
shall be sent by email to the Certificate Administrator. The Certificate Administrator shall post (within a commercially reasonable
period following preparation or receipt of such answer, as the case may be) such Inquiry and the related answer to the Investor
Q&A Forum. If the Certificate Administrator, the Master Servicer, the Special Servicer or the Operating Advisor determines,
in its respective sole discretion, that (i) any Inquiry is beyond the scope outlined above, (ii) answering any Inquiry
would not be in the best interests of the Trust and/or the Certificateholders, (iii) answering any Inquiry would be in violation
of applicable law, this Agreement or the applicable Loan Documents, (iv) answering any Inquiry would materially increase the
duties of, or result in significant additional cost or expense to, the Certificate Administrator, the Master Servicer, the Special
Servicer or the Operating Advisor, as applicable, (v) answering such inquiry would require the disclosure of Privileged Information
(subject to the


 






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Privileged Information Exception), (vi) answering such inquiry would or is reasonably expected to result in a waiver
of an attorney-client privilege or the disclosure of attorney work product, or (vii) answering any Inquiry is otherwise not
advisable for any reason, it shall not be required to answer such Inquiry and, in the case of the Master Servicer, the Special
Servicer or the Operating Advisor, shall promptly notify the Certificate Administrator, and the Certificate Administrator shall
not post such Inquiry on the Investor Q&A Forum. In addition, no party shall post or otherwise disclose information known to
such party to be Privileged Information as part of its response to any Inquiry. The Certificate Administrator shall notify the
Person who submitted such Inquiry if the Inquiry will not be answered. The Certificate Administrator shall not be required to post
to the Investor Q&A Forum any Inquiry or answer thereto that the Certificate Administrator determines, in its sole discretion,
is administrative or ministerial in nature. The Investor Q&A Forum will not reflect questions, answers and other communications
between the Certificate Administrator or other Person which are not submitted via the Investor Q&A Forum. In addition, no party
is permitted to post or otherwise disclose direct communication with the Directing Holder as part of its response to any questions.
In the case of an Inquiry relating to a Non-Serviced Mortgage Loan, the Certificate Administrator shall make reasonable efforts
to obtain an answer from the related non-serviced master servicer or the related non-serviced special servicer, as applicable;
provided that the Certificate Administrator shall not be responsible for the content of such answer or any delay or failure
to obtain such answer.


 


(d)          The Certificate Administrator
shall make available to any Certificateholder and Certificate Owner, the Investor Registry. The “Investor Registry”
shall be a voluntary service available on the Certificate Administrator’s Website, where Certificateholders and Certificate
Owners can register and thereafter obtain contact information with respect to any other Certificateholder or Certificate Owner
that has so registered. Any person registering to use the Investor Registry will be required to certify that (a) it is a Certificateholder
or a Certificate Owner and (b) it grants authorization to the Certificate Administrator to make its name and contact information
available on the Investor Registry for at least 45 days from the date of such certification to other registered Certificateholders
and registered Certificate Owners. Such Person shall then be asked to enter certain mandatory fields such as the individual’s
name, the company name and email address, as well as certain optional fields such as address, phone, and Class(es) of Certificates
owned. If any Certificateholder or Certificate Owner notifies the Certificate Administrator that it wishes to be removed from the
Investor Registry (which notice may not be within 45 days of its registration), the Certificate Administrator shall promptly remove
it from the Investor Registry. The Certificate Administrator will not be responsible for verifying or validating any information
submitted on the Investor Registry, or for monitoring or otherwise maintaining the accuracy of any information thereon. The Certificate
Administrator may require acceptance of a waiver and disclaimer for access to the Investor Registry.


 


(e)          The Master Servicer may at its
sole cost and expense, but is not required to, make any of the reports or files it delivers pursuant to this Agreement available
on the Master Servicer’s website only with the use of a password, in which case the Master Servicer shall provide such password
to (i) the other parties to this Agreement, who by their acceptance of such password shall be deemed to have agreed not to
disclose such password to any other Person and (ii) each Certificateholder and prospective Certificateholder who requests
such password, provided that any such Certificateholder or prospective Certificateholder, as the case may be, has


 






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delivered
an Investor Certification to the Trustee, the Certificate Administrator and the Master Servicer. In connection with providing access
to the Master Servicer’s website, the Master Servicer may require registration and the acceptance of a disclaimer and otherwise
(subject to the preceding sentence) adopt reasonable rules and procedures, which may include, to the extent the Master Servicer
deems necessary or appropriate, conditioning access on execution of an agreement governing the availability, use and disclosure
of such information, and which may provide indemnification to the Master Servicer for any liability or damage that may arise therefrom.
The Master Servicer shall not be liable for dissemination of this information in accordance with this Agreement, provided
that such information otherwise meets the requirements set forth herein with respect to the form and substance of such information
or reports. The Master Servicer shall be entitled to attach to any report provided pursuant to this subsection, any reasonable
disclaimer with respect to information provided, or any assumptions required to be made by such report. Notwithstanding anything
herein to the contrary, the Master Servicer may, at its sole cost and expense, make available by electronic media, bulletin board
service or Internet website any reports or other information the Master Servicer is required or permitted to provide to any Borrower
with respect to such Borrower’s Mortgage Loan or Serviced Whole Loan to the extent such action does not conflict with the
terms of this Agreement, the terms of the related Loan Documents or applicable law. If the Master Servicer is required to deliver
any statement, report or other information under any provision of this Agreement, then, the Master Servicer may satisfy such obligation
by (x) physically delivering a paper copy of such statement, report or information, (y) delivering such statement, report
or information in a commonly used electronic format, or (z) making such statement, report or information available on its
website, unless this Agreement expressly specifies a particular method of delivery; provided that all reports required to
be delivered to the Certificate Administrator shall be delivered in accordance with clause (x) or (y) or, upon request,
clause (z).


 


(f)          Subject to Section 3.13,
the Special Servicer shall from time to time (and, in any event, as may be reasonably requested by the Master Servicer) provide
the Master Servicer with such information in its possession regarding the Specially Serviced Loans and REO Properties as may
be reasonably necessary for the Master Servicer to prepare each report and any supplemental information to be provided by the Master
Servicer to the Certificate Administrator. Neither the Certificate Administrator nor the Depositor shall have any obligation to
recompute, verify or recalculate the information provided thereto by the Master Servicer. Unless the Certificate Administrator
has actual knowledge that any report or file received from the Master Servicer contains erroneous information, the Certificate
Administrator is authorized to rely thereon in calculating and making distributions to Certificateholders and allocating Realized
Losses, to the Certificates in accordance with Section 4.01 of this Agreement and preparing the statements to Certificateholders
required by Section 4.02(a) of this Agreement.


 


(g)          As soon as reasonably practicable,
upon the written request of and at the expense of any Certificateholder, the Certificate Administrator shall provide the requesting
Certificateholder with such information that is in the Certificate Administrator’s possession or can reasonably be obtained
by the Certificate Administrator as is requested by such Certificateholder, for purposes of satisfying applicable reporting requirements
under Rule 144A under the Securities Act. Neither the Certificate Registrar nor the Certificate Administrator shall have any
responsibility for the sufficiency under Rule 144A or any other securities laws of any available information so furnished
to any person including any prospective purchaser of a


 






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Certificate or any interest therein, nor for the content or accuracy of
any information so furnished which was prepared or delivered to them by another.


 


(h)          The Certificate Administrator
shall make available at its offices, during normal business hours, upon not less than two Business Days prior notice, for review
by any Privileged Person and any Serviced Companion Loan Noteholder that is a Privileged Person (solely with respect to items (ii)
and (iii), to the extent such information relates to the related Serviced Companion Loan), originals or copies of documents relating
to the Mortgage Loans and any related REO Properties to the extent in its possession, including, without limitation, the following
items (except to the extent prohibited by applicable law or under any of the related Loan Documents):


 


(i)           any and all
notices and reports delivered to the Certificate Administrator with respect to any Mortgaged Property as to which the environmental
testing contemplated by Section 3.10(f) of this Agreement revealed that neither of the conditions set forth in clauses (i)
and (ii) thereof was satisfied;


 


(ii)          the most recent
annual (or more frequent, if available) operating statements, rent rolls (to the extent such rent rolls have been made available
by the related Borrower) and/or lease summaries and retail sales information, if any, received from the Master Servicer or the
Special Servicer in respect to each Mortgaged Property;


 


(iii)         the Mortgage
File, including any and all modifications, waivers and amendments of the terms of a Mortgage Loan or Serviced Whole Loan entered
into by the Master Servicer and/or the Special Servicer and delivered to the Certificate Administrator; and


 


(iv)         any other information
that may be necessary to satisfy the requirements of subsection (d)(4)(i) of Rule 144A under the Securities Act.


 


The Certificate Administrator may require
a Privileged Person to execute an Investor Certification prior to granting access to such information, which may be in the form
of a “click-through” confirmation. Copies of any and all of the foregoing items will be available from the Certificate
Administrator upon request. The Certificate Administrator will be permitted to require payment by the requesting party (other than
a Rating Agency) of a sum sufficient to cover the reasonable costs and expenses of making such information available and providing
any copies thereof. The Certificate Administrator’s obligation under this Section 4.02(h) to make available any document
is subject to the Certificate Administrator’s receipt of such document.


 


The Certificate Administrator shall
not be liable for providing or disseminating information in accordance with the terms of this Agreement.


 


(i)          The Depositor hereby authorizes
the Certificate Administrator to make available to any Financial Market Publisher or such other vendor chosen by the Depositor
that submits to the Certificate Administrator a certification substantially in the form of Exhibit L-2 to this Agreement,
all the Distribution Date Statements, CREFC® reports and supplemental notices delivered or made available pursuant
to this Section 4.02 to Privileged Persons.


 






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Section 4.03     Compliance
with Withholding Requirements. Notwithstanding any other provision of this Agreement, the Paying Agent shall comply with
all federal withholding requirements with respect to payments to Certificateholders and other payees of interest, original
issue discount or other amounts that the Paying Agent reasonably believes are applicable under the Code. The consent of
Certificateholders or payees shall not be required for any such withholding. If the Paying Agent or its agent withholds any
amount from interest, original issue discount payments or other amounts or advances thereof to any Certificateholder or payee
pursuant to federal withholding requirements, the Paying Agent shall indicate the amount withheld to such Certificateholder
or payee. Any amount so withheld shall be treated as having been distributed to such Certificateholder for all purposes of
this Agreement.


 


Section 4.04     REMIC
Compliance. (a) The parties intend that the Lower-Tier REMIC and the Upper-Tier REMIC shall constitute, and that the
affairs of the Lower-Tier REMIC and the Upper-Tier REMIC shall be conducted so as to qualify it as, a “real estate
mortgage investment conduit” as defined in, and in accordance with, the REMIC Provisions at all times any Certificates
are outstanding, and the provisions hereof shall be interpreted consistently with this intention. In furtherance of such
intention, the Certificate Administrator shall, to the extent permitted by applicable law, act as agent, and is hereby
appointed to act as agent, of each such REMIC and shall on behalf of each such REMIC:


 


(i)          make or cause
to be made an election, on behalf of each of the Lower-Tier REMIC and the Upper-Tier REMIC, to be treated as a REMIC on Form 1066
for its first taxable year, in accordance with the REMIC Provisions;


 


(ii)         prepare and
timely file, or cause to be prepared and timely filed, and cause the Trustee to sign (and the Trustee shall sign), all required
Tax Returns for the Lower-Tier REMIC and the Upper-Tier REMIC, using a calendar year as the taxable year for each of such REMIC
as required by the REMIC Provisions and other applicable federal, state or local income tax laws;


 


(iii)        prepare and
forward, or cause to be prepared and forwarded, to the Certificateholders and the IRS and applicable state and local tax authorities
all information reports as and when required to be provided to them in accordance with the REMIC Provisions;


 


(iv)        if the filing
or distribution of any documents of an administrative nature not addressed in clauses (i) through (iii) of this Section 4.04(a)
is then required by the REMIC Provisions in order to maintain the status of the Lower-Tier REMIC and the Upper-Tier REMIC as a
REMIC or is otherwise required by the Code, prepare and file or distribute, or cause to be prepared and signed and filed or distributed,
such documents with or to such Persons when and as required by the REMIC Provisions or the Code or comparable provisions of state
and local law;


 


(v)         within 30 days
of the Closing Date, obtain a taxpayer identification number for each of the Lower-Tier REMIC and the Upper-Tier REMIC on IRS Form
SS-4 and (in the case of the Upper-Tier REMIC only), furnish or cause to be furnished to the IRS, on Form 8811 or as otherwise
may be required by the Code, the name, title and address of the person that the Certificateholders may contact for tax information
relating thereto (and the


 






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Certificate Administrator shall act as the representative of the Upper-Tier REMIC for this purpose),
together with such additional information as may be required by such Form, and shall update such information at the time or times
and in the manner required by the Code (and the Depositor agrees within 10 Business Days of the Closing Date to provide any information
reasonably requested by the Master Servicer, the Special Servicer or the Certificate Administrator and necessary to make such filing);
and


 


(vi)         maintain such
records relating to the Lower-Tier REMIC and the Upper-Tier REMIC as may be necessary to prepare the foregoing returns, schedules,
statements or information, such records, for federal income tax purposes, to be maintained on a calendar year and on an accrual
basis.


 


The Holder of the largest Percentage
Interest in the Class R Certificates shall be the tax matters person pursuant to Treasury Regulations Section 1.860F-4(d)
and shall be the “partnership representative” within the meaning of Section 6223 of the Code (to the extent such provision
is applicable to the Trust REMICs) of each Trust REMIC. If more than one Holder shall hold an equal Percentage Interest in the
Class R Certificates larger than that held by any other Holder, the first such Holder to have acquired such Class R Certificates
shall be such tax matters person or “partnership representative”. The Certificate Administrator shall act as attorney-in-fact
and agent for the tax matters person and/or “partnership representative” of the Lower-Tier REMIC and the Upper-Tier
REMIC, and each Holder of a Percentage Interest in the Class R Certificates, by acceptance hereof, is deemed to have consented
to the Certificate Administrator’s appointment in such capacities and agrees to execute any documents required to give effect
thereto, and any fees and expenses incurred by the Certificate Administrator in connection with any audit or administrative or
judicial proceeding shall be paid by the Trust Fund.


 


The Certificate Administrator shall
not intentionally take any action or intentionally omit to take any action if, in taking or omitting to take such action, the Certificate
Administrator has actual knowledge that such action or omission (as the case may be) would cause the termination of the REMIC status
of the Lower-Tier REMIC or the Upper-Tier REMIC or the imposition of tax on the Lower-Tier REMIC or the Upper-Tier REMIC (other
than a tax on income expressly permitted to be received by the terms of this Agreement). Notwithstanding any provision of this
paragraph to the contrary, the Certificate Administrator shall not be required to take any action that the Certificate Administrator
in good faith believes to be inconsistent with any other provision of this Agreement, nor shall the Certificate Administrator be
deemed in violation of this paragraph if it takes any action expressly required or authorized by any other provision of this Agreement,
and the Certificate Administrator shall have no responsibility or liability with respect to any act or omission of the Depositor,
the Trustee, the Master Servicer or the Special Servicer which does not enable the Certificate Administrator to comply with any
of clauses (i) through (vi) of the first paragraph of this Section 4.04(a) or which results in any action contemplated
by clauses (i) or (ii) of the next succeeding sentence. In this regard the Certificate Administrator shall (i) exercise
reasonable care not to allow the occurrence of any “prohibited transactions” within the meaning of Section 860F(a) of
the Code, unless the party seeking such action shall have delivered to the Certificate Administrator an Opinion of Counsel (at
such party’s expense) that such occurrence would not (A) result in a taxable gain, (B) otherwise subject the Lower-Tier
REMIC or the Upper-Tier REMIC to tax (other than a tax


 






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at the highest marginal corporate tax rate on net income from foreclosure
property), or (c) cause the Lower-Tier REMIC or the Upper-Tier REMIC to fail to qualify as a REMIC; and (ii) exercise
reasonable care not to allow the Trust Fund to receive any contributions, or any income from the performance of services or from
assets not permitted under the REMIC Provisions to be held by a REMIC (provided, that the receipt of any income expressly
permitted or contemplated by the terms of this Agreement shall not be deemed to violate this clause). None of the Master Servicer,
the Special Servicer, the Trustee or the Depositor shall be (i) permitted to take any action that the Certificate Administrator
would not be permitted to take pursuant to the preceding two sentences or (ii) responsible or liable (except in connection
with taking any act or omission referred to in the two preceding sentences or the following sentence) for any failure by the Certificate
Administrator to comply with the provisions of this Section 4.04. The Depositor, the Trustee, the Master Servicer and
the Special Servicer shall cooperate in a timely manner with the Certificate Administrator in supplying any information within
the Depositor’s, the Trustee’s, the Master Servicer’s or the Special Servicer’s control (other than any
confidential information) that is reasonably necessary to enable the Certificate Administrator to perform its duties under this
Section 4.04.


 


The Certificate Administrator shall
be responsible for the preparation of IRS Form W-9, if requested. The Trustee shall be entitled to rely on any information contained
therein and is hereby directed to execute such IRS Form W-9; provided, that the Certificate Administrator shall be directed
to execute such IRS Form W-9 (in lieu of the Trustee) if permitted by applicable Treasury Regulations.


 


The Certificate Administrator’s
authority under this Agreement includes the authority to make, and the Certificate Administrator is hereby directed to make, any
elections allowed under the Code (i) to avoid the application of Section 6221 of the Code (or successor provisions) to any REMIC
and (ii) to avoid payment by any Trust REMIC under Section 6226 of the Code (or successor provisions) of any tax, penalty, interest
or other amount imposed under the Code that would otherwise be imposed on any Holder of any Class R Certificate, past or present.
A Holder of any Class R Certificate agrees, by acquiring such interest, to any such elections and to the Certificate Administrator’s
acting as agent for any tax matters person or other representative of a REMIC that can be designated under the Code.


 


(b)          The following assumptions are
to be used for purposes of determining the anticipated payments of principal and interest for calculating the original yield to
maturity and original issue discount with respect to the Regular Certificates: (i) each Mortgage Loan will pay principal and
interest in accordance with its terms and scheduled payments will be timely received on their Due Dates, provided that the
Mortgage Loans will prepay in accordance with the Prepayment Assumption; (ii) none of the Sole Certificateholder, the Master
Servicer, the Special Servicer and the Certificateholder owning a majority of the Percentage Interests in the Controlling Class
will exercise the right described in Section 9.01 of this Agreement to cause early termination of the Trust Fund; and
(iii) no Mortgage Loan is repurchased by a Mortgage Loan Seller pursuant to the terms of the related Mortgage Loan Purchase
Agreement.


 


Section 4.05     Imposition
of Tax on the Trust Fund. If any tax, including interest, penalties or assessments, additional amounts or additions to tax,
is imposed on the Lower-Tier REMIC or the Upper-Tier REMIC, such tax shall be charged against amounts otherwise distributable
to the Holders of the Certificates; provided that any taxes imposed on any net


 






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income from foreclosure property pursuant
to Section 860G(d) of the Code or any similar tax imposed by a state or local jurisdiction shall instead be treated
as an expense of the related Serviced REO Property in determining Net REO Proceeds with respect to the Serviced REO Property (and
until such taxes are paid, the Special Servicer from time to time shall withdraw from amounts in the REO Account (and, in the
case of any Serviced Whole Loan, from amounts in the Serviced Whole Loan REO Account) allocable to the Mortgage Loans and transfer
to the Certificate Administrator amounts reasonably determined by the Certificate Administrator to be necessary to pay such taxes,
which the Certificate Administrator shall maintain in a separate, non-interest-bearing account, and the Certificate Administrator
shall send to the Special Servicer for deposit in the REO Account (or, if applicable, the Serviced Whole Loan REO Account) the
excess determined by the Certificate Administrator from time to time of the amount in such account over the amount necessary to
pay such taxes) and shall be paid therefrom; provided that any such tax imposed on net income from foreclosure property
that exceeds the amount in any such reserve shall be retained from Available Funds as provided in Section 3.06(a)(xii)
or, in the case of any Serviced Whole Loan, in Section 3.06(b)(xiii), and the next sentence. Except as provided
in the preceding sentence, the Certificate Administrator is hereby authorized to and shall retain or cause to be retained from
Available Funds sufficient funds to pay or provide for the payment of, and to actually pay, such tax as is legally owed by the
applicable REMIC (but such authorization shall not prevent the Trustee from contesting, at the expense of the Trust Fund or in
the case of a Serviced Whole Loan with a Serviced Pari Passu Companion Loan, on a pro rata basis as between the related
Mortgage Loan and any related Serviced Pari Passu Companion Loan (based on their respective outstanding principal balances)) any
such tax in appropriate proceedings, and withholding payment of such tax, if permitted by law, pending the outcome of such proceedings).
The Certificate Administrator is hereby authorized to and shall segregate or cause to be segregated, into a separate non-interest
bearing account, (i) the net income allocable to the Mortgage Loans from any “prohibited transaction” under Section 860F(a) of
the Code or (ii) the amount of any contribution to the Lower-Tier REMIC or the Upper-Tier REMIC after the Startup Day that
is subject to tax under Section 860G(d) of the Code and use such income or amount, to the extent necessary, to pay such
tax (and return the balance thereof, if any, to the Collection Account, the Lower-Tier Distribution Account or the Upper-Tier
Distribution Account. To the extent that any such tax is paid to the IRS, the Certificate Administrator shall retain an equal
amount from future amounts otherwise distributable to the Holders of the Class R Certificates, as the case may be, and shall distribute
such retained amounts to the Holders of Regular Certificates, or the Trustee as Holder of the Lower-Tier Regular Interests, until
they are fully reimbursed and then to the Holders of the Class R Certificates. Neither the Master Servicer, the Special Servicer,
the Certificate Administrator, nor the Trustee shall be responsible for any taxes imposed on the Lower-Tier REMIC or the Upper-Tier
REMIC except to the extent such tax is attributable to a breach of a representation or warranty or the negligence or willful misconduct
of the Master Servicer, the Special Servicer, the Certificate Administrator or the Trustee or an act or omission of the Master
Servicer, the Special Servicer, the Certificate Administrator or the Trustee in contravention of this Agreement, provided,
further, that such breach, act or omission could result in liability under Section 6.03 of this Agreement,
in the case of the Master Servicer, Section 4.04 of this Agreement, in the case of the Trustee or Section 4.04
of this Agreement, in the case of the Certificate Administrator in accordance with the standard of liability set forth in
those sections. Notwithstanding anything in this Agreement to the contrary, in each such case, the Master Servicer or the Special
Servicer shall not be responsible for the Trustee’s or the Certificate Administrator’s breaches, acts or omissions,
the Trustee shall not be


 






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responsible for the breaches, acts or omissions of the Certificate Administrator, the Master Servicer
or the Special Servicer and the Certificate Administrator shall not be responsible for the breaches, acts or omissions of the
Trustee, the Master Servicer or the Special Servicer.


 


Section 4.06     Remittances.
On the Master Servicer Remittance Date immediately preceding each Distribution Date, the Master Servicer with respect to the Mortgage
Loans that it is servicing shall:


 


(i)          remit to the
Certificate Administrator for deposit in the Lower-Tier Distribution Account an amount equal to Prepayment Premiums and Yield Maintenance
Charges, and, for deposit in accordance with Section 3.05(i) of this Agreement, Gain-on-Sale Proceeds, in each case
received by the Master Servicer in its Collection Period preceding such Distribution Date;


 


(ii)         remit to the
Certificate Administrator for deposit in the Lower-Tier Distribution Account an amount equal to the aggregate of the Available
Funds for such Distribution Date;


 


(iii)         [reserved];
and


 


(iv)        remit to CREFC®
the CREFC® Intellectual Property Royalty License Fee.


 


Section 4.07     P&I
Advances. (a)  On or before 3:00 p.m. (New York City time) on each Master Servicer Remittance Date, the
Master Servicer shall in the case of all Mortgage Loans either (i) remit to the Certificate Administrator for deposit into
the Lower-Tier Distribution Account, as applicable, from its own funds an amount equal to the aggregate amount of P&I Advances,
if any, to be made in respect of the related Distribution Date, (ii) apply amounts held in the Collection Account or the
applicable Serviced Whole Loan Collection Account for future distribution to Certificateholders in subsequent months in discharge
of any such obligation to make P&I Advances; provided, that such amounts in the applicable Serviced Whole Loan Collection
Account shall only be applied up to the related Mortgage Loan’s pro rata share of the amounts held therein on such
date, or (iii) make P&I Advances in the form of any combination of (i) and (ii) aggregating the total amount of
P&I Advances to be made by the Master Servicer, except that the portion of such P&I Advance equal to the CREFC®
Intellectual Property Royalty License Fee for each such Mortgage Loan shall not be remitted to the Certificate Administrator
but shall instead be remitted to CREFC®. Any amounts held in the Collection Account or any Serviced Whole Loan
Collection Account, as applicable, for future distribution and so used to make P&I Advances shall be appropriately reflected
in the Master Servicer’s records and replaced by the Master Servicer by deposit in the Collection Account or the applicable
Serviced Whole Loan Collection Account, as applicable, on or before the next succeeding P&I Advance Determination Date (to
the extent not previously replaced through either (x) the deposit of Late Collections of the delinquent principal and/or
interest in respect of which such P&I Advances were made or (y) the deposit of Periodic Payments collected prior to the
expiration of any applicable grace period that ends after the P&I Advance Determination Date in respect of which such P&I
Advances were made). The Master Servicer shall notify the Trustee and the Certificate Administrator of (i) the aggregate
amount of P&I Advances for a Distribution Date and (ii) the amount of any Nonrecoverable P&I Advances for such Distribution
Date, on or before the P&I Advance Determination Date. If the Master Servicer fails to make a


 






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required P&I Advance by
3:00 p.m. (New York City time) on any Master Servicer Remittance Date, then the Trustee shall make such P&I Advance pursuant
to Section 7.06 of this Agreement by 12:00 noon (New York City time) on the related Distribution Date, in each
case unless the Master Servicer shall have cured such failure (and shall have provided written notice of such cure to the Trustee)
by 11:00 a.m. (New York City time) on such Distribution Date or the Trustee determines that such P&I Advance, if made,
would be a Nonrecoverable Advance. Neither the Master Servicer nor the Trustee shall be required to make principal or interest
advances with respect to any delinquent payment amounts due on any Companion Loan. If the Master Servicer or the Trustee makes
a P&I Advance with respect to any Mortgage Loan that is part of a Whole Loan with a related Serviced Companion Loan or Non-Serviced
Companion Loan, then it shall provide written notice to the related Other Servicer, Other Special Servicer and Other Trustee of
the amount of such P&I Advance with respect to such Mortgage Loan within two (2) Business Days of making such P&I Advance.


 


(b)          Subject to Section 4.07(c)
and 4.07(d) below, the aggregate amount of P&I Advances to be made by the Master Servicer with respect to any Distribution
Date shall equal the aggregate of: (i) the Periodic Payments (net of related Servicing Fees (other than, in the case of any Non-Serviced
Mortgage Loan, the servicing fee rate pursuant to the applicable Other Pooling and Servicing Agreement)) that were due on the Mortgage
Loans (including the Non-Serviced Mortgage Loans) and any REO Loan (other than any portion of an REO Loan related to a Companion
Loan) during the related Collection Period and delinquent as of the P&I Advance Determination Date (or not advanced by any
Sub Servicer on behalf of the Master Servicer) and (ii) with respect to each Mortgage Loan delinquent in respect of its Balloon
Payment as of the Master Servicer Remittance Date (including any REO Loan (other than any portion of an REO Loan related to a Companion
Loan) as to which the related Balloon Payment would have been past due), an amount equal to the Assumed Scheduled Payment therefor.
Subject to subsection (c) below, the obligation of the Master Servicer to make such P&I Advances, with respect to the
Mortgage Loans that it is servicing, is mandatory, and with respect to any applicable Mortgage Loan or REO Loan, shall continue
until (but not including) the Distribution Date on which Liquidation Proceeds or REO Proceeds, if any, are to be distributed. The
Periodic Payment or Assumed Scheduled Payment shall be reduced, for purposes of P&I Advances, by any modifications pursuant
to Section 3.26 of this Agreement or otherwise and by any reductions by a bankruptcy court pursuant to a plan of reorganization
or pursuant to any of its equitable powers.


 


(c)          Notwithstanding anything herein
to the contrary, no P&I Advance shall be required hereunder if the Master Servicer, the Special Servicer or the Trustee, as
applicable, determines that such P&I Advance would, if made, constitute a Nonrecoverable P&I Advance. In addition, the
Master Servicer shall not make any P&I Advance to the extent that it has received written notice that the Special Servicer
has determined (if no Consultation Termination Event has occurred, in consultation with the Directing Holder) that such P&I
Advance would, if made, constitute a Nonrecoverable P&I Advance. In making such recoverability determination, the Master Servicer,
the Special Servicer and the Trustee, as applicable, will be entitled to (i) give due regard to the existence of any Nonrecoverable
Advance or Workout-Delayed Reimbursement Amount with respect to other Mortgage Loans, the recovery of which, at the time of such
consideration, is being deferred or delayed by the Master Servicer or the Trustee, as applicable, in light of the fact that proceeds
on the related Mortgage Loan are a source of


 






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recovery not only for the P&I Advance under consideration, but also as a potential
source of recovery of such Nonrecoverable Advance or Workout-Delayed Reimbursement Amount which is being or may be deferred or
delayed, (ii) consider (among other things) the obligations of the Borrower under the terms of the related Mortgage Loan (or
the Whole Loan, as applicable) as it may have been modified, (iii) consider (among other things) the related Mortgaged Properties
in their “as is” or then current conditions and occupancies, as modified by such party’s assumptions (consistent
with the Servicing Standard in the case of the Master Servicer and the Special Servicer) regarding the possibility and effects
of future adverse change with respect to such Mortgaged Properties, (iv) estimate and consider (consistent with the Servicing
Standard in the case of the Master Servicer and the Special Servicer) (among other things) future expenses and (v) estimate
and consider (among other things) the timing of recoveries.


 


The Master Servicer, the Special Servicer
and the Trustee, as applicable, shall consider Unliquidated Advances in respect of prior P&I Advances for purposes of nonrecoverability
determinations as if such Unliquidated Advances were unreimbursed P&I Advances. None of the Master Servicer or Trustee shall
make any P&I Advances with respect to delinquent amounts due on any Companion Loan. If an Appraisal of the related Mortgaged
Property shall not have been obtained within the prior 9-month period (and the Master Servicer and the Trustee shall each request
any such appraisal from the Special Servicer prior to ordering an Appraisal pursuant to this sentence) or if such an Appraisal
shall have been obtained but as a result of unforeseen occurrences, such Appraisal does not, in the good faith determination of
the Master Servicer, the Special Servicer or the Trustee, reflect current market conditions, and the Master Servicer or the Trustee,
as applicable, and the Special Servicer cannot agree on the appropriate downward adjustment to such Appraisal, the Master Servicer,
the Special Servicer or the Trustee, as the case may be, may, subject to its reasonable and good faith determination that such
Appraisal will demonstrate the nonrecoverability of the related Advance, obtain an Appraisal for such purpose at the expense of
the Trust Fund (subject, in the case of any Serviced Whole Loan, to the allocation provisions of the related Intercreditor Agreement).


 


Any such determination by the Master
Servicer, Special Servicer or the Trustee that the Master Servicer or Trustee, as applicable, has made a Nonrecoverable P&I
Advance or that any proposed P&I Advance, if made, would constitute a Nonrecoverable P&I Advance shall be evidenced by
a certificate of a Servicing Officer delivered to the Trustee, the Certificate Administrator, the Operating Advisor, the Special
Servicer, any related Serviced Pari Passu Companion Loan holder(s), the Controlling Class Representative (but only if no Consultation
Termination Event has occurred and is continuing) and the Depositor and, in the case of the Trustee, by a certificate of a Responsible
Officer of the Trustee, delivered to the Depositor, the Controlling Class Representative (but only if no Consultation Termination
Event has occurred and is continuing), the Operating Advisor, the Certificate Administrator, the Master Servicer and the Special
Servicer, which in each case sets forth such nonrecoverability determination and the considerations of the Master Servicer, Special
Servicer or the Trustee, as applicable, forming the basis of such determination (such certificate accompanied by, to the extent
available, income and expense statements, rent rolls, occupancy status, property inspections and other information used by the
Master Servicer, Special Servicer or the Trustee, as applicable, to make such determination, together with any existing Appraisal
or any Updated Appraisal); provided, that with respect to any Specially Serviced Loan, the Special Servicer may, at its
option, make a determination in accordance with the Servicing Standard, that any P&I Advance previously


 






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made or proposed to
be made is nonrecoverable and shall deliver to the Master Servicer, the Controlling Class Representative (but only if no Consultation
Termination Event has occurred and is continuing), the Operating Advisor, the Asset Representations Reviewer, the Certificate Administrator,
the Trustee and the 17g-5 Information Provider (who shall promptly post such notice to the 17g-5 Information Provider’s Website
pursuant to Section 3.14(d) of this Agreement), notice of such determination, together with a certificate of a Servicing
Officer and the supporting information described above. Any such determination shall be conclusive and binding on the Master Servicer,
the Special Servicer and the Trustee.


 


Any such Person may update or change
its recoverability determinations at any time (but not reverse any other Person’s determination or prohibit any such other
authorized Person from making a determination, that a P&I Advance constitutes, or would constitute a Nonrecoverable Advance)
and (consistent with the Servicing Standard in the case of the Master Servicer or the Special Servicer) may obtain, at the expense
of the Trust Fund (subject, in the case of any Serviced Whole Loan, to the allocation provisions of the related Intercreditor Agreement),
any analysis, Appraisals or market value estimates or other information for such purposes. Absent bad faith, any such determination
as to the recoverability of any P&I Advance shall be conclusive and binding on the Certificateholders.


 


Notwithstanding the above, (i) the
Trustee shall be entitled to rely conclusively on and be bound by any determination by the Master Servicer or the Special Servicer,
as applicable, that a P&I Advance, if made, would be a Nonrecoverable P&I Advance and (ii) the Master Servicer shall
be entitled to rely conclusively on and be bound by any determination of the Special Servicer that a P&I Advance, if made,
would be a Nonrecoverable P&I Advance (but this statement shall not be construed to entitle the Special Servicer to reverse
any other authorized Person’s determination, or to prohibit any such other authorized Person from making a determination
that an advance constitutes, or would constitute a Nonrecoverable Advance). The Trustee, in determining whether or not a P&I
Advance previously made is, or a proposed P&I Advance, if made, would be, a Nonrecoverable P&I Advance shall use its good
faith business judgment. The Special Servicer shall promptly furnish the Master Servicer and the Trustee with any information in
its possession regarding the Specially Serviced Loans and REO Properties as each such party may reasonably request for purposes
of making recoverability determinations.


 


(d)          In connection with the recovery
of any P&I Advance out of the Collection Account pursuant to Section 3.06(a) of this Agreement or any Serviced
Whole Loan Collection Account pursuant to Section 3.06(b) of this Agreement, the Master Servicer shall be entitled
to pay itself or the Trustee, as the case may be (in reverse of such order with respect to any Mortgage Loan or REO Property) out
of any amounts then on deposit in the Collection Account or the applicable Serviced Whole Loan Collection Account (subject to the
provisions of Section 3.06) (to the extent amounts therein relate to the Mortgage Loans, taking into account the related
Intercreditor Agreement), interest at the Reimbursement Rate in effect from time to time, accrued on the amount of such P&I
Advance from the date made to but not including the date of reimbursement with respect to the Mortgage Loan that the Master Servicer
is servicing; provided, however, that no interest will accrue on any P&I Advance (i) made with respect to a Mortgage
Loan until after the related Due Date has passed and any applicable Grace Period has expired or (ii) if the related Periodic Payment
is received after the Determination Date but on or


 






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prior to the Business Day immediately prior to the related Distribution Date.
The Master Servicer shall reimburse itself or the Trustee, as the case may be, for any outstanding P&I Advance as soon as practicably
possible after funds available for such purpose are deposited in the Collection Account or the applicable Serviced Whole Loan Collection
Account with respect to the Mortgage Loan that the Master Servicer is servicing.


 


Notwithstanding anything to the contrary
contained in Section 4.06 of this Agreement, (i) neither the Master Servicer nor the Trustee shall make an advance
for Yield Maintenance Charges or Penalty Charges and (ii) if the Master Servicer receives notice of an Appraisal Reduction
Event and the related Appraisal Reduction Amount, the interest portion of any P&I Advance with respect to a Mortgage Loan (other
than a Non-Serviced Mortgage Loan) as to which there has been an Appraisal Reduction Amount will be an amount equal to the product
of (x) the amount required to be advanced without giving effect to the Appraisal Reduction Amount and (y) a fraction,
the numerator of which is the Stated Principal Balance of such Mortgage Loan as of the immediately preceding Determination Date
less any Appraisal Reduction Amount applicable to such Mortgage Loan and the denominator of which is the Stated Principal Balance
of such Mortgage Loan as of such Determination Date. All P&I Advances for any Mortgage Loans that have been modified shall
be calculated on the basis of their terms as modified. With respect to any Non-Serviced Mortgage Loan, if the Master Servicer or
the Trustee, as applicable, does not receive notice of an Appraisal Reduction Event and the related Appraisal Reduction Amount
from the related Other Servicer, then the Master Servicer or the Trustee, as applicable, shall have no obligation to proportionately
reduce the interest portion of any P&I Advance required to be made by the Master Servicer or the Trustee, as applicable. With
respect to any Non-Serviced Companion Loan that has already been securitized prior to the Closing Date, the Certificate Administrator,
on behalf of the Trust, shall notify each Other Servicer and each Other Trustee of a Non-Serviced Mortgage Loan that (a) such Non-Serviced
Mortgage Loan has been included in this Trust and (b) upon (i) the existence of an Appraisal Reduction Event and/or (ii) the related
calculation of any Appraisal Reduction Amount (or receipt of notice of any such calculation), such Other Servicer shall provide
the Master Servicer (who shall promptly provide to the Special Servicer (who shall promptly forward, prior to a Consultation Termination
Event, to the Directing Holder) and the Trustee with prompt notice of the existence of any such Appraisal Reduction Event and/or
any such Appraisal Reduction Amount once calculated. With respect to any Serviced Companion Loan, the Master Servicer shall notify
the related Other Servicer and Other Trustee of the existence of an Appraisal Reduction Event and any related Appraisal Reduction
Amount. The Master Servicer shall be deemed to have delivered notice of any such Appraisal Reduction Event and any related Appraisal
Reduction Amount if the Master Servicer includes such event and/or amount in its monthly servicer statements provided to the other
servicer.


 


The portion of any Insurance Proceeds
and Net Liquidation Proceeds in respect of a Mortgage Loan or any REO Loan allocable to principal shall equal the total amount
of such proceeds minus (i) any portion thereof payable to the Master Servicer, the Special Servicer, the Operating Advisor,
the Asset Representations Reviewer, the Certificate Administrator or the Trustee pursuant to this Agreement and (ii) a portion
thereof equal to the interest component of the Periodic Payment(s), as accrued at the related Net Mortgage Rate from the date as
to which interest was last paid by the Borrower up to but not including the Due Date in the Collection Period in which such proceeds
are received; provided, if the interest portion(s) of one or more


 






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P&I Advances with respect of such Mortgage Loan or
REO Loan, as applicable, were reduced as a result of an Appraisal Reduction Event, the amount of the Net Liquidation Proceeds to
be applied to interest shall be reduced by the aggregate amount of such reductions and the portion of such Net Liquidation Proceeds
to be applied to principal shall be increased by such amount, and if the amount of the Net Liquidation Proceeds to be applied to
principal has been applied to pay the principal of such Mortgage Loan or REO Loan in full, any remaining Net Liquidation Proceeds
shall then be applied to pay any remaining accrued and unpaid interest of such Mortgage Loan or REO Loan.


 


(e)          With respect to any Non-Serviced
Mortgage Loan, the Master Servicer and the Trustee will each be permitted to make its determination that the Master Servicer or
the Trustee has made a P&I Advance on such Mortgage Loan that is a Nonrecoverable P&I Advance or that any proposed P&I
Advance, if made, would constitute a Nonrecoverable P&I Advance with respect to such Mortgage Loan in accordance with Section 4.07(a) independently
of any determination made by the Other Servicer (or any master servicer with respect to a commercial mortgage securitization holding
another Non-Serviced Companion Loan related to such Non-Serviced Mortgage Loan, if any) under the Other Pooling and Servicing Agreement
(or any pooling and servicing agreement with respect to a commercial mortgage securitization holding another Non-Serviced Companion
Loan related to such Non-Serviced Mortgage Loan, if any). If the Master Servicer or Trustee, as applicable, determines that a proposed
P&I Advance with respect to any Non-Serviced Mortgage Loan, if made, or any outstanding P&I Advance with respect to any
Non-Serviced Mortgage Loan previously made, would be, or is, as applicable, a Nonrecoverable Advance, the Master Servicer or Trustee,
as applicable, shall provide the Other Servicer (and any master servicer with respect to a commercial mortgage securitization holding
another Non-Serviced Companion Loan related to such Non-Serviced Mortgage Loan, if any), the Other Special Servicer and Other Trustee
with written notice of such determination, promptly and in any event within two (2) Business Days after such determination or such
longer time period permitted by the applicable Intercreditor Agreement. If the Master Servicer receives written notice from an
Other Servicer (or any master servicer with respect to a commercial mortgage securitization holding another Non-Serviced Companion
Loan related to such Non-Serviced Mortgage Loan, if any) that it has determined, with respect to the related Non-Serviced Companion
Loan, that any proposed advance of principal and/or interest with respect to the related Non-Serviced Companion Loan would be,
or any outstanding advance of principal and interest is, a nonrecoverable advance of principal and/or interest, such determination
shall not be binding on the Certificateholders, the Master Servicer or the Trustee; provided that, with respect to each
Non-Serviced Whole Loan, each of the Master Servicer and the Trustee shall be entitled to conclusively rely on any such nonrecoverability
determination.


 


If the Master Servicer receives notice
from a Rating Agency that it is no longer approved as a master servicer for commercial mortgage securitizations, it shall promptly
notify the Trustee, any Other Trustee, any Other Servicer and any other trustee or master servicer with respect to each commercial
mortgage securitization that holds a Non-Serviced Companion Loan related to a Non-Serviced Mortgage Loan, if any.


 


(f)          With respect to any Serviced
Whole Loan that has a Serviced Companion Loan, the Master Servicer and the Special Servicer will be permitted to make its determination
that the Master Servicer or the Trustee has made a P&I Advance on the related Mortgage Loan


 






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that is a Nonrecoverable P&I
Advance or that any proposed P&I Advance, if made, would constitute a Nonrecoverable P&I Advance with respect to such Mortgage
Loan in accordance with Section 4.07(a) independently of any determination made in respect of the related Serviced
Companion Loan, by the master servicer under the related Other Pooling and Servicing Agreement. If the Master Servicer, the Special
Servicer or the Trustee, as applicable, determines that a proposed P&I Advance with respect to such Serviced Whole Loan, if
made, or any outstanding P&I Advance with respect to any such Mortgage Loan previously made, would be, or is, as applicable,
a Nonrecoverable Advance or if the Master Servicer, the Special Servicer or the Trustee, as applicable, subsequently determines
that a proposed Servicing Advance would be a Nonrecoverable Advance or an outstanding Servicing Advance is or would be a Nonrecoverable
Advance, the Master Servicer or Trustee, as applicable, shall provide the Other Servicer, Other Special Servicer and the Other
Trustee under each related Other Pooling and Servicing Agreement with written notice of such determination, promptly and in any
event within two (2) Business Days after such determination or such longer time period permitted by the applicable Intercreditor
Agreement. If the Master Servicer receives written notice from any master servicer under any such Other Pooling and Servicing Agreement
that such master servicer has determined, with respect to the related Serviced Companion Loan, that any proposed advance of principal
and/or interest with respect to such Serviced Companion Loan would be, or any outstanding advance of principal and interest is,
a nonrecoverable advance of principal and/or interest, such determination shall not be binding on the Certificateholders, the Master
Servicer or the Trustee; provided that, with respect to each Non-Serviced Whole Loan, each of the Master Servicer and the
Trustee shall be entitled to conclusively rely on any such nonrecoverability determination.


 


(g)          If the applicable Master Servicer
receives notice from a Rating Agency that it is no longer approved as a master servicer for commercial mortgage securitizations,
it shall promptly notify the Trustee, any Other Trustee, any Other Servicer and any other trustee or master servicer with respect
to each commercial mortgage securitization that holds a Serviced Pari Passu Companion Loan related to any Serviced Whole Loan,
if any.


 


(h)          The Master Servicer or the Trustee,
as applicable, shall be entitled to the reimbursement of P&I Advances it makes to the extent permitted pursuant to Section 3.06
of this Agreement together with any related Advance Interest Amount in respect of such P&I Advances to the extent permitted
pursuant to Section 3.06 of this Agreement and the Master Servicer and the Special Servicer each hereby covenants and
agrees to promptly seek and effect the reimbursement of such Advances from the related Borrowers to the extent permitted by applicable
law and the related Mortgage Loan and this Agreement.


 


Section 4.08     Appraisal
Reductions; Collateral Deficiency Amounts. (a) For purposes of (x) determining the Non-Reduced Certificates, the
Controlling Class and whether a Control Termination Event has occurred and is continuing, and (y) determining the Voting
Rights of the related Classes for purposes of removal of the Special Servicer, Appraisal Reduction Amounts allocated to the
Mortgage Loans will be allocated to each Class of Sequential Pay Certificates in reverse sequential order to notionally
reduce the related Certificate Balances until the Certificate Balance of each such Class of Certificates is reduced to zero
(i.e., first, to the Class H Certificates; second, to the Class G Certificates, third, to
the Class F Certificates, fourth, to the Class E Certificates, fifth, to the Class D
Certificates, sixth, to the


 






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Class C Certificates, seventh, to the Class B Certificates, eighth, to
the Class A-M Certificates and ninth, to the Class A-1, Class A-2, Class A-SB, Class A-3A, Class A-3B
and Class A-4 Certificates, pro rata, based on their Certificate Balances).


 


As of the first Determination Date
following a Mortgage Loan (other than a Non-Serviced Mortgage Loan) becoming an AB Modified Loan, the Master Servicer shall calculate
whether a Collateral Deficiency Amount exists with respect to such AB Modified Loan, taking into account the most recent Appraisal
obtained by the Special Servicer with respect to such Mortgage Loan, and all other information relevant to a Collateral Deficiency
Amount determination. Upon obtaining knowledge or receipt of notice by the Master Servicer that a Non-Serviced Mortgage Loan has
become an AB Modified Loan, the Master Servicer shall (i) promptly request from the related Other Servicer, Other Special Servicer
and Other Trustee the most recent appraisal with respect to such AB Modified Loan, in addition to all other information reasonably
required by the Master Servicer to calculate whether a Collateral Deficiency Amount exists with respect to such AB Modified Loan,
and (ii) as of the first Determination Date following receipt by the Master Servicer of the appraisal and any other information
set forth in the immediately preceding clause (i) that the Master Servicer reasonably expects to receive, calculate whether a Collateral
Deficiency Amount exists with respect to such AB Modified Loan, taking into account the most recent appraisal obtained by the Other
Special Servicer with respect to such Non-Serviced Mortgage Loan, and all other information relevant to a Collateral Deficiency
Amount determination. Upon obtaining knowledge or receipt of notice by any other party to this Agreement that a Non-Serviced Mortgage
Loan has become an AB Modified Loan, such party shall promptly notify the Master Servicer thereof. The Special Servicer, upon reasonable
prior written request, shall provide the Master Servicer with information in its possession that is reasonably required to calculate
or recalculate any Collateral Deficiency Amount. Upon reasonable prior written request, the Special Servicer shall use reasonable
efforts to assist the Master Servicer in obtaining information reasonably required to calculate or recalculate any Collateral Deficiency
Amount with respect to a Non-Serviced Mortgage Loan in the event that the Master Servicer is unsuccessful in obtaining such information
from the related Other Servicer, Other Special Servicer or Other Trustee. None of the Special Servicer, the Trustee or the Certificate
Administrator shall calculate or verify any Collateral Deficiency Amount.


 


For purposes of determining the Controlling
Class and whether a Control Termination Event has occurred and is continuing, Appraisal Reduction Amounts allocated to an AB Modified
Loan will be allocated to each Class of Control Eligible Certificates in reverse sequential order to notionally reduce the related
Certificate Balances until the Certificate Balance of each such Class of Certificates is reduced to zero. For the avoidance of
doubt, for purposes of determining the Controlling Class or the occurrence of a Control Termination Event, any Class of Control
Eligible Certificates shall be allocated both applicable Appraisal Reduction Amounts and applicable Collateral Deficiency Amounts
(the sum of which shall constitute the applicable Cumulative Appraisal Reduction Amount), in accordance with this Section 4.08(a).


 


With respect to (i) any Appraisal
Reduction Amount calculated for the purposes of determining the Non-Reduced Certificates or determining the Voting Rights of the
related Classes for purposes of removal of the Special Servicer and (ii) any Appraisal Reduction Amount or Collateral Deficiency
Amount calculated for purposes of determining the Controlling


 






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Class
or the occurrence of a Control Termination Event, the appraised value of the related Mortgaged Property shall be determined on
an “as is” basis.


 


The Master Servicer shall promptly
notify the Certificate Administrator of the amount of any Appraisal Reduction Amount, any Collateral Deficiency Amount and any
resulting Cumulative Appraisal Amount allocated to each Mortgage Loan, AB Modified Loan or Serviced Whole Loan. Based on information
in its possession, the Certificate Administrator shall determine from time to time which Class of Certificates is the Controlling
Class. Promptly upon its determination of a change in the Controlling Class, the Certificate Administrator shall notify the Master
Servicer, the Special Servicer and the Operating Advisor of such event, including the identity and contact information of the new
Controlling Class Certificateholder (the cost of obtaining such information from the Depository being an expense of the Trust).


 


(b)          The Holders of the majority
(by Certificate Balance) of any Class of Control Eligible Certificates whose aggregate Certificate Balance, as notionally reduced
by Appraisal Reduction Amounts or Collateral Deficiency Amounts allocated thereto, is less than 25% of the initial Certificate
Principal Balance of such Class (such Class, an “Appraised-Out Class”) as a result of an allocation of an Appraisal
Reduction Amount or Collateral Deficiency Amount in respect of such Class shall have the right, at their sole expense, to require
the Special Servicer to order a second Appraisal of any Mortgage Loan for which an Appraisal Reduction Event has occurred or as
to which there exists a Collateral Deficiency Amount (such Holders, the “Requesting Holders”), and use its reasonable
efforts to obtain an Appraisal prepared on an “as-is” basis by an MAI appraiser reasonably acceptable to the Special
Servicer within 60 days from receipt of the Requesting Holders’ written request. Any Appraised-Out Class for which the
Requesting Holders are challenging the Appraisal Reduction Amount or Collateral Deficiency Amount determination shall not exercise
any rights of the Controlling Class until such time, if any, as such Class is reinstated as the Controlling Class and the rights
of the Controlling Class will be exercised by the most senior Control Eligible Certificates, if any, during such period.


 


In addition, the Requesting Holders
of any Appraised-Out Class shall have the right, at their sole expense, to require the Special Servicer to order an additional
appraisal of any Mortgage Loan for which an Appraisal Reduction Event has occurred or as to which there exists a Collateral Deficiency
Amount if an event has occurred at or with regard to the related Mortgaged Property or Mortgaged Properties that would have a material
effect on its appraised value, and the Special Servicer shall use reasonable efforts to obtain an Appraisal prepared on an “as-is”
basis by an MAI appraiser reasonably acceptable to the Special Servicer within 60 days from receipt of the Requesting Holders’
written request; provided that the Special Servicer shall not be required to obtain such appraisal if it determines in accordance
with the Servicing Standard that no events at or with regard to the related Mortgaged Property or Mortgaged Properties have occurred
that would have a material effect on the appraised value of the related Mortgaged Property or Mortgaged Properties. The right of
the holders of an Appraised-Out Class to require the Special Servicer to order an additional appraisal as described in this paragraph
shall be limited to no more frequently than once in any 9-month period with respect to any Mortgage Loan.


 


Upon receipt of any such second Appraisal,
the Special Servicer shall determine, in accordance with the Servicing Standard, whether, based on its assessment of such second
Appraisal, any recalculation of the Appraisal Reduction Amount or Collateral Deficiency


 






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Amount
is warranted and, if so warranted, shall direct the Master Servicer to, and the Master Servicer shall, recalculate such Appraisal
Reduction Amount or Collateral Deficiency Amount, as applicable, based upon such second Appraisal. If required by any such recalculation,
the Appraised-Out Class shall be reinstated as the Controlling Class.


 


Appraisals that are permitted to be
obtained by the Special Servicer at the request of holders of an Appraised-Out Class shall be in addition to any appraisals that
the Special Servicer may otherwise be required to obtain in accordance with the Servicing Standard or this Agreement without regard
to any appraisal requests made by any holder of an Appraised-Out Class.


 


(c)          An appraisal for any Mortgage
Loan that has not been brought current for at least three consecutive Periodic Payments (or paid in full, liquidated, repurchased
or otherwise disposed of) will be updated every 9 months for so long as an Appraisal Reduction Event or Collateral Deficiency Amount
exists.


 


(d)          Notwithstanding the foregoing,
within 60 days after an Appraisal Reduction Event (or in the case of an Appraisal Reduction Event occurring by reason of clause (ii) of
the definition thereof, within 30 days of such Appraisal Reduction Event) (i) with respect to Mortgage Loans (other than
Non-Serviced Mortgage Loans) or applicable Serviced Whole Loans having a Stated Principal Balance of $2,000,000 or higher, the
Special Servicer shall order and use commercially reasonable efforts to obtain an Updated Appraisal or (ii) with respect to
Mortgage Loans (other than Non-Serviced Mortgage Loans) or applicable Serviced Whole Loans having a Stated Principal Balance of
less than $2,000,000, the Special Servicer, at its option, shall (A) provide a Small Loan Appraisal Estimate within the same
time period as an Appraisal would otherwise be required and such Small Loan Appraisal Estimate shall be used in lieu of an Updated
Appraisal to calculate the Appraisal Reduction Amount for such Mortgage Loans or applicable Serviced Whole Loans; or (B) order
and use commercially reasonable efforts to obtain an Updated Appraisal.


 


(e)          The Special Servicer, upon reasonable
request, shall deliver to the Master Servicer any information in the Special Servicer’s possession reasonably required to
determine, calculate, redetermine or recalculate any Appraisal Reduction Amount.


 


On the first Determination Date occurring
at least 10 Business Days after the date the Master Servicer receives from the Special Servicer the related Updated Appraisal or
the Special Servicer’s Small Loan Appraisal Estimate, as applicable, the Master Servicer shall adjust the Appraisal Reduction
Amount to take into account such Updated Appraisal or Small Loan Appraisal Estimate, as applicable. Each Appraisal Reduction Amount
shall also be adjusted to take into account any subsequent Small Loan Appraisal Estimate or Updated Appraisal, as applicable, and
any letter updates, as of the date of each such subsequent Small Loan Appraisal Estimate, Updated Appraisal or letter update, as
applicable. Such report shall also be forwarded by the Master Servicer, to the extent the related Serviced Companion Loan has been
included in a securitization transaction, to the master servicer of such securitization into which the related Serviced Companion
Loan has been sold, or to the holder of any related Serviced Companion Loan by the Master Servicer.


 


Section 4.09     Reserved.


 






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Section 4.10     Secure
Data Room. (a) The Certificate Administrator shall create
the Secure Data Room and the Depositor shall, upon receipt of each Mortgage Loan Seller’s Diligence File Certification,
deliver to the Certificate Administrator within 120 days following the Closing Date an electronic copy of the Diligence Files
for the Mortgage Loans that have been uploaded by the Mortgage Loan Sellers to the Intralinks Site. Upon receipt thereof, the
Certificate Administrator shall promptly upload the contents of each Diligence File to the Secure Data Room. Access to the Secure
Data Room shall be granted by the Certificate Administrator to (i) the Asset Representations Reviewer and (ii) any other Person
at the direction of the Depositor, in each case, upon the occurrence of an Affirmative Asset Review Vote and receipt by the Certificate
Administrator of a certification substantially in the form of Exhibit KK hereto (which shall be sent via email to trustadministrationgroup@wellsfargo.com
or submitted electronically via the Certificate Administrator’s website). In no case whatsoever shall Certificateholders
be permitted to access the Secure Data Room. For the avoidance of doubt, the Certificate Administrator shall be under no obligation
to post any documents or information to the Secure Data Room other than the contents of the Diligence Files initially delivered
to it by the Depositor.


 


(b)          The Certificate Administrator
shall not have any obligation or duty to verify, review, confirm or otherwise determine whether the type, number or contents of
any Diligence File delivered to the Certificate Administrator is accurate, complete, or relates to the transaction or confirm that
all documents and information constituting any Diligence File have actually been delivered to the Certificate Administrator. In
no case shall the Certificate Administrator be deemed to have obtained actual or constructive knowledge of the contents of, or
information contained in, any Diligence File by virtue of posting such Diligence File to the Secure Data Room. In the event that
any document or information is posted in error, the Certificate Administrator may remove such document or information from the
Secure Data Room. The Certificate Administrator shall not have any obligation to produce physical or electronic copies of any document
or information provided to it for posting to the Secure Data Room. The Certificate Administrator shall not be responsible or held
liable for any other Person’s use or dissemination of the documents or information contained on the Secure Data Room; provided
that such event or occurrence is not also a result of its own negligence, bad faith or willful misconduct. The Certificate Administrator
shall not be required to restrict access to the Secure Data Room on a loan-by-loan basis and any Person with access to the Secure
Data Room shall covenant to access only the information necessary to perform its duties and responsibilities under this Agreement.


 


(c)          Upon the resignation or removal
of the Certificate Administrator pursuant to Section 8.07, the Certificate Administrator shall transfer electronic copies
of the Diligence Files to a successor certificate administrator designated in writing by the Depositor, and all costs and expenses
associated with the transfer of the Diligence Files shall be payable as part of the costs and expenses associated with the transfer
of its responsibilities upon the resignation or removal of the Certificate Administrator pursuant to Section 8.07. Following
the date on which any Mortgage Loan is paid in full, liquidated, repurchased or otherwise removed from the Trust, the Master Servicer
or the Special Servicer, as applicable, may (but shall not be obligated to) direct the Certificate Administrator in writing to
delete the Diligence File related to such Mortgage Loan from the Secure Data Room; provided that absent such direction,
the Certificate Administrator shall not be obligated to delete any Diligence File from the Secure Data Room.


 






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Following
the termination of the Trust pursuant to Section 9.01, the Certificate Administrator shall be permitted to delete all files
from the Secure Data Room. Upon deletion pursuant to this Section 4.10, in no event shall the Certificate Administrator
be obligated to reproduce or retrieve such deleted files.


 


Article V



THE CERTIFICATES


 


Section 5.01     The
Certificates. (a) The Certificates consist of the Class A-1 Certificates, the Class A-2 Certificates, the Class A-SB
Certificates, the Class A-3A Certificates, the Class A-3B Certificates, the Class A-4 Certificates, the Class A-M Certificates,
the Class X-A Certificates, the Class X-B Certificates, the Class X-C Certificates, the Class X-D Certificates, the
Class X-E Certificates, the Class X-F Certificates, the Class B Certificates, the Class C Certificates, the Class D
Certificates, the Class E Certificates, the Class F Certificates, the Class G Certificates, the Class H Certificates
and the Class R Certificates.


 


The Class A-1, Class A-2,
Class A-SB, Class A-3A, Class A-3B, Class A-4, Class A-M, Class X-A, Class X-B, Class X-C, Class X-D, Class
X-E, Class X-F, Class B, Class C, Class D, Class E, Class F, Class G, Class H and Class R Certificates
will be substantially in the forms for such Class of Certificates as set forth next to such Classes in the Table of Exhibits
to this Agreement. The Certificates of each Class (other than the Class R Certificates) will be issuable in registered form only,
in minimum denominations of authorized Certificate Balance or Notional Amount, as applicable, as described in the succeeding table,
and multiples of $l in excess thereof (or such lesser amount if the Certificate Balance or Notional Amount, as applicable, is not
a multiple of $1). With respect to any Certificate or any beneficial interest in a Certificate, the “Denomination”
thereof shall be (i) the amount (A) set forth on the face thereof or (B) in the case of any Global Certificate,
set forth on a schedule attached thereto or, in the case of any beneficial interest in a Global Certificate, the amount set forth
on the books and records of the related Depository Participant or indirect participating brokerage firm, as applicable, (ii) expressed
in terms of Certificate Balance or Notional Amount, as applicable, and (iii) be in an authorized denomination, as set forth
below.


 


	Class 
	 	Minimum

                                         Denomination 


	 	Aggregate
                                         Denomination of
 all Certificates of Class 



	A-1          	 	 	$	10,000	 	 	$	28,858,000	 
	A-2          	 	 	$	10,000	 	 	$	35,000,000	 
	A-SB          	 	 	$	10,000	 	 	$	46,052,000	 
	A-3A          	 	 	$	10,000	 	 	$	140,000,000	 
	A-4          	 	 	$	10,000	 	 	$	247,714,000	 
	X-A          	 	 	$	100,000	 	 	$	637,044,000	 
	A-M          	 	 	$	10,000	 	 	$	64,420,000	 
	B          	 	 	$	10,000	 	 	$	50,105,000	 
	C          	 	 	$	10,000	 	 	$	35,789,000	 
	A-3B          	 	 	$	10,000	 	 	$	75,000,000	 
	X-B          	 	 	$	100,000	 	 	$	85,894,000	 
	X-C          	 	 	$	100,000	 	 	$	38,856,000	 
	X-D          	 	 	$	100,000	 	 	$	17,384,000	 



 






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	Class 
	 	Minimum

                                         Denomination 


	 	Aggregate
                                         Denomination of
 all Certificates of Class 



	X-E          	 	 	$	100,000	 	 	$	16,360,000	 
	X-F          	 	 	$	100,000	 	 	$	22,496,828	 
	D          	 	 	$	100,000	 	 	$	38,856,000	 
	E          	 	 	$	100,000	 	 	$	17,384,000	 
	F          	 	 	$	100,000	 	 	$	8,180,000	 
	G          	 	 	$	100,000	 	 	$	8,180,000	 
	H          	 	 	$	100,000	 	 	$	22,496,828	 


 


Each Certificate will share ratably
in all rights of the related Class.


 


The Class R Certificates will each
be issuable in one or more Individual Certificates in minimum denominations of 5% Percentage Interests and integral multiples of
a 1% Percentage Interest in excess thereof and together aggregating the entire 100% Percentage Interest in each such Class.


 


The Global Certificates shall be issued
as one or more certificates registered in the name of a nominee designated by the Depository, and Certificate Owners shall hold
interests in the Global Certificates through the book-entry facilities of the Depository in the minimum Denominations and aggregate
Denominations and Classes as set forth above.


 


The Global Certificates shall in all
respects be entitled to the same benefits under this Agreement as Individual Certificates authenticated and delivered hereunder.


 


(b)          Except insofar as pertains to
any Individual Certificate, the Trust Fund, the Certificate Administrator, the Paying Agent and the Trustee may for all purposes
(including the making of payments due on the Global Certificates and the giving of notice to Holders thereof) deal with the Depository
as the authorized representative of the Certificate Owners with respect to the Global Certificates for the purposes of exercising
the rights of Certificateholders hereunder; provided, that, for purposes of transmitting communications pursuant to Section 5.05(a)
of this Agreement, to the extent that the Depositor has provided the Certificate Administrator with the names of Certificate Owners
(even if such Certificateholders hold their Certificates through the Depository) the Certificate Administrator shall provide such
information to such Certificate Owners directly. The rights of Certificate Owners with respect to Global Certificates shall be
limited to those established by law and agreements between such Certificateholders and the Depository and Depository Participants.
Except as set forth in Section 5.01(e) below, Certificate Owners of Global Certificates shall not be entitled to physical
certificates for the Global Certificates as to which they are the Certificate Owners. Requests and directions from, and votes of,
the Depository as Holder of the Global Certificates shall not be deemed inconsistent if they are made with respect to different
Certificate Owners. Subject to the restrictions on transfer set forth in this Section 5.01 of this Agreement and Applicable
Procedures, the holder of a beneficial interest in a Private Global Certificate may request that the Certificate Administrator
cause the Depository (or any Agent Member) to notify the Certificate Registrar and the Certificate Custodian in writing of a request
for transfer or exchange of such beneficial interest for an Individual Certificate or Certificates. Upon receipt of such a request
and payment by the related Certificate Owner of any attendant expenses, the Certificate Administrator shall cause the issuance
and delivery of such Individual Certificates. The


 






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Certificate
Registrar may establish a reasonable record date in connection with solicitations of consents from or voting by Certificateholders
and give notice to the Depository of such record date. Without the written consent of the Certificate Registrar, no Global Certificate
may be transferred by the Depository except to a successor Depository that agrees to hold the Global Certificates for the account
of the Certificate Owners.


 


(c)          Any of the Certificates may
be issued with appropriate insertions, omissions, substitutions and variations, and may have imprinted or otherwise reproduced
thereon such legend or legends, not inconsistent with the provisions of this Agreement, as may be required to comply with any law
or with rules or regulations pursuant thereto, or with the rules of any securities market in which the Certificates are admitted
to trading, or to conform to general usage.


 


(d)          The Global Certificates (i) shall
be delivered by the Certificate Registrar to the Depository or, pursuant to the Depository’s instructions on behalf of the
Depository to, and deposited with, the Certificate Custodian, and in either case shall be registered in the name of Cede &
Co. and (ii) shall bear a legend substantially to the following effect:


 


“Unless this certificate is presented by an authorized
representative of The Depository Trust Company, a New York corporation (“DTC”), to the Certificate Registrar
for registration of transfer, exchange or payment, and any certificate issued is registered in the name of Cede & Co.
or in such other name as is requested by an authorized representative of DTC (and any payment is made to Cede & Co. or
to such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest herein.”


 


The Global Certificates may be deposited
with such other Depository as the Certificate Registrar may from time to time designate, and shall bear such legend as may be appropriate.


 


(e)          If (i) the Depository advises
the Certificate Administrator in writing that the Depository is no longer willing or able properly to discharge its responsibilities
as Depository, and the Certificate Administrator and the Depositor are unable to locate a qualified successor within 90 days of
such notice or (ii) the Trustee has instituted or has been directed to institute any judicial proceeding to enforce the rights
of the Holders of such Class and the Trustee has been advised by counsel that in connection with such proceeding it is necessary
or appropriate for the Certificate Registrar to obtain possession of the Certificates of such Class, the Certificate Administrator
shall notify the affected Certificate Owner or Owners through the Depository of the occurrence of such event and the availability
of Individual Certificates to such Certificate Owners requesting them. Upon surrender to the Certificate Administrator of Global
Certificates by the Depository, accompanied by registration instructions from the Depository for registration of transfer, the
Certificate Administrator shall issue the Individual Certificates. Neither the Trustee, the Certificate Administrator, the Certificate
Registrar, the Master Servicer, the Special Servicer nor the Depositor shall be liable for any actions taken by the Depository
or


 






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its
nominee, including, without limitation, any delay in delivery of such instructions. Upon the issuance of Individual Certificates,
the Trustee, the Certificate Administrator, the Certificate Registrar and the Master Servicer shall recognize the Holders of Individual
Certificates as Certificateholders hereunder.


 


(f)          If the Trustee, its agents,
the Certificate Administrator, its agents or the Master Servicer or Special Servicer have instituted or have been directed to institute
any judicial proceeding in a court to enforce the rights of the Certificateholders under the Certificates, and the Trustee, the
Certificate Administrator, the Master Servicer or the Special Servicer have been advised by counsel that in connection with such
proceeding it is necessary or appropriate for the Trustee, the Certificate Administrator, the Master Servicer or the Special Servicer
to obtain possession of the Certificates, the Trustee, the Certificate Administrator, the Master Servicer or the Special Servicer
may in their sole discretion determine that the Certificates represented by the Global Certificates shall no longer be represented
by such Global Certificates. In such event, the Certificate Administrator or the Authenticating Agent will execute and authenticate
and the Certificate Registrar will deliver, in exchange for such Global Certificates, Individual Certificates (and if the Certificate
Administrator or the Certificate Custodian has in its possession Individual Certificates previously executed, the Authenticating
Agent will authenticate and the Certificate Registrar will deliver such Certificates) in a Denomination equal to the aggregate
Denomination of such Global Certificates.


 


(g)          If the Trust Fund ceases to
be subject to Section 13 or 15(d) of the Exchange Act, the Certificate Administrator shall make available to each Holder
and Certificate Owner of a Class of Certificates, upon request of such a Holder, information, to the extent such information is
in its possession, substantially equivalent in scope to the information currently filed by the Certificate Administrator with the
Commission pursuant to the Exchange Act, plus additional information required to be provided for securities qualifying for resales
under Rule 144A under the Act.


 


For so long as the Class R Certificates
remain outstanding, none of the Depositor, the Trustee or the Certificate Registrar shall take any action which would cause the
Trust Fund to fail to be subject to Section 15(d) of the Exchange Act.


 


(h)          Each Certificate may be printed
or in typewritten or similar form, and each Certificate shall, upon original issue, be executed and authenticated by the Certificate
Administrator or the Authenticating Agent and delivered to, or at the order of, the Depositor. All Certificates shall be executed
by manual or facsimile signature on behalf of the Certificate Administrator or Authenticating Agent by an authorized officer or
signatory. Certificates bearing the signature of an individual who was at any time the proper officer or signatory of the Certificate
Administrator or Authenticating Agent shall bind the Certificate Administrator or Authenticating Agent, notwithstanding that such
individual has ceased to hold such office or position prior to the delivery of such Certificates or did not hold such office or
position at the date of such Certificates. No Certificate shall be entitled to any benefit under this Agreement, or be valid for
any purpose, unless there appears on such Certificate a certificate of authentication in the form set forth in Exhibits A-1
through A-21 executed by the Authenticating Agent by manual signature, and such certificate of authentication upon any Certificate
shall be conclusive evidence, and the only evidence, that such Certificate has been duly authenticated and delivered hereunder.
All Certificates shall be dated the date of their authentication.


 






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(i)          If, in connection with any Distribution
Date, the Certificate Administrator shall have reported the amount of an anticipated distribution to the Depository based on the
expected receipt of any monthly payment based on information set forth in any report of the Master Servicer or the Special Servicer,
or any other monthly payment, Balloon Payment or prepayment expected to be or which is paid on the last two Business Days preceding
such Distribution Date, and the related Borrower fails to make such payments at such time, the Certificate Administrator shall
use commercially reasonable efforts to cause the Depository to make the revised distribution on a timely basis on such Distribution
Date. The Trustee, the Certificate Administrator (in any of its capacities), the Operating Advisor, the Asset Representations Reviewer,
the Master Servicer and the Special Servicer shall not be liable or held responsible for any resulting delay (or claims by the
Depository resulting therefrom) in the making of such distribution to Certificateholders. Any out-of-pocket costs incurred by the
Certificate Administrator as a consequence of a Borrower failing to make such payments shall be reimbursable to the Certificate
Administrator as an expense of the Trust Fund.


 


Section 5.02     Registration,
Transfer and Exchange of Certificates. (a) The Certificate Administrator shall keep or cause to be kept at its offices books
(the “Certificate Register”) for the registration, transfer and exchange of Certificates (the Certificate Administrator,
in such capacity, being the “Certificate Registrar”). The Depositor, the Trustee, the Master Servicer and the
Special Servicer shall have the right to inspect the Certificate Register or to obtain a copy thereof at all reasonable times,
and to rely conclusively upon a certificate of the Certificate Registrar as to the information set forth in the Certificate Register.
The names and addresses of all Certificateholders and the names and addresses of the transferees of any Certificates shall be
registered in the Certificate Register; provided, in no event shall the Certificate Registrar be required to maintain in
the Certificate Register the names of the individual Participants holding beneficial interests in the Trust Fund through the Depository.
The Person in whose name any Certificate is so registered shall be deemed and treated as the sole owner and Holder thereof for
all purposes of this Agreement and the Depositor, Certificate Registrar, the Master Servicer, Special Servicer, the Trustee, the
Certificate Administrator, any Paying Agent and any agent of any of them shall not be affected by any notice or knowledge to the
contrary. An Individual Certificate is transferable or exchangeable only upon the surrender of such Certificate to the Certificate
Registrar at its offices together with an assignment and transfer (executed by the Holder or his duly authorized attorney), subject
to the requirements of Section 5.01(h) and Sections 5.02(c), (d), (e), (f), (g),
(h) and (i) of this Agreement. Upon request of the Certificate Administrator, the Certificate Registrar shall provide
the Certificate Administrator with the names, addresses and Percentage Interests of the Holders.


 


(b)          Upon surrender for registration
of transfer of any Individual Certificate, subject to the requirements of Sections 5.02(c), (d), (e),
(f), (g), (h) and (i) of this Agreement, the Certificate Administrator shall execute and the Authenticating
Agent shall duly authenticate in the name of the designated transferee or transferees, one or more new Certificates in Denominations
of a like aggregate Denomination as the Individual Certificate being surrendered. Such Certificates shall be delivered by the Certificate
Registrar in accordance with Section 5.02(e) of this Agreement. Each Certificate surrendered for registration of transfer
shall be canceled and subsequently destroyed by the Certificate Registrar. Each new Certificate issued pursuant to this Section 5.02
shall be registered in the name of any Person as the transferring


 






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Holder
may request, subject to the provisions of Sections 5.01(h) and 5.02(c), (d), (e), (f),
(g), (h) and (i) of this Agreement.


 


(c)          In addition to the provisions
of Sections 5.01(h) and 5.02(d), (e), (f), (g), (h) and (i) of this Agreement
and the rules of the Depository, the exchange, transfer and registration of transfer of Private Certificates that are Individual
Certificates or beneficial interests in the Private Global Certificates shall be subject to the following restrictions:


 


(i)           Transfers
between Holders of Individual Certificates. With respect to the transfer and registration of transfer of an Individual Certificate
representing an interest in a Class of Private Certificates to a transferee that takes delivery in the form of an Individual Certificate
(other than transfers of the Class R Certificates, which may be made only in accordance with Section 5.02(i) of this Agreement):


 


(A)          Other
than the initial transfer from the Initial Purchasers to an initial investor, the Certificate Registrar shall register the transfer
of such Individual Certificate if the requested transfer is being made by a transferee who has provided the Certificate Registrar
with an Investment Representation Letter substantially in the form of Exhibit D-1 to this Agreement (an “Investment
Representation Letter”), to the effect that the transfer is being made to a Qualified Institutional Buyer in accordance
with Rule 144A;


 


(B)          The Certificate Registrar
shall register the transfer of such Individual Certificate pursuant to Regulation S after the expiration of the Restricted Period
if (1) the transferor has provided the Certificate Registrar with a Regulation S Transfer Certificate substantially in the
form of Exhibit G to this Agreement (a “Regulation S Transfer Certificate”), and (2) the transferee
furnishes to the Certificate Registrar an Investment Representation Letter; or


 


(C)          The Certificate Registrar
shall register the transfer of such Individual Certificate if prior to the transfer such transferee furnishes to the Certificate
Registrar (1) an Investment Representation Letter to the effect that the transfer is being made to an Institutional Accredited
Investor or to an Affiliated Person in accordance with an applicable exemption under the Act, and (2) in the case of a transfer
to an Affiliated Person, an opinion of counsel acceptable to the Certificate Registrar that such transfer is in compliance with
the Act;


 


and, in each case, the Certificate Registrar
shall register the transfer of such Individual Certificate only if prior to the transfer the transferee furnishes to the Certificate
Registrar a written undertaking by the transferor to reimburse the Trust Fund for any costs incurred by it in connection with the
proposed transfer. In addition, the Certificate Registrar may, as a condition of the registration of any such transfer, require
the transferor to furnish such other certificates, legal opinions or other information (at the transferor’s expense) as the
Certificate Registrar may reasonably require to confirm that the proposed transfer is being made pursuant to an exemption from,
or in a commercial mortgage-backed securitization transaction not subject to, the registration requirements of the Act and other
applicable laws.


 






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(ii)          Transfers
within the Private Global Certificates. Notwithstanding any provision to the contrary herein, so long as a Private Global Certificate
remains outstanding and is held by or on behalf of the Depository, transfers within such Global Certificate shall only be made
in accordance with this Section 5.02(c)(ii).


 


(A)          Rule 144A
Global Certificate to Regulation S Global Certificate During the Restricted Period. If, during the Restricted Period, a Certificate
Owner of an interest in a Rule 144A Global Certificate wishes at any time to transfer its beneficial interest in such Rule 144A
Global Certificate to a Person who wishes to take delivery thereof in the form of a beneficial interest in the related Regulation
S Global Certificate, such Certificate Owner may, in addition to complying with all applicable rules and procedures of the Depository
and Clearstream or Euroclear applicable to transfers by their respective participants (the “Applicable Procedures”),
transfer or cause the transfer of such beneficial interest for an equivalent beneficial interest in such Regulation S Global Certificate
only upon compliance with the provisions of this Section 5.02(c)(ii)(A). Upon receipt by the Certificate Registrar
at the Corporate Trust Office of (1) written instructions given in accordance with the Applicable Procedures from an Agent
Member directing the Certificate Registrar to credit or cause to be credited to another specified Agent Member’s account
a beneficial interest in the Regulation S Global Certificate in an amount equal to the Denomination of the beneficial interest
in the Rule 144A Global Certificate to be transferred, (2) a written order given in accordance with the Applicable Procedures
containing information regarding the account of the Agent Member and the Euroclear or Clearstream account, as the case may be,
to be credited with, and the account of the Agent Member to be debited for, such beneficial interest, and (3) a certificate
in the form of Exhibit H to this Agreement given by the Certificate Owner of such interest, the Certificate Registrar
shall instruct the Depository or the Certificate Custodian, as applicable, to reduce the Denomination of the Rule 144A Global
Certificate by the Denomination of the beneficial interest in the Rule 144A Global Certificate to be so transferred and, concurrently
with such reduction, to increase the Denomination of the Regulation S Global Certificate by the Denomination of the beneficial
interest in the Rule 144A Global Certificate to be so transferred, and to credit or cause to be credited to the account of
the Person specified in such instructions (who shall be an Agent Member acting for or on behalf of Euroclear or Clearstream, or
both, as the ease may be) a beneficial interest in the Regulation S Global Certificate having a Denomination equal to the amount
by which the Denomination of the Rule 144A Global Certificate was reduced upon such transfer.


 


(B)          Rule 144A
Global Certificate to Regulation S Global Certificate After the Restricted Period. If, after the Restricted Period, a Certificate
Owner of an interest in a Rule 144A Global Certificate wishes at any time to transfer its beneficial interest in such Rule 144A
Global Certificate to a Person who wishes to take delivery thereof in the form of a beneficial interest in the related Regulation
S Global Certificate, such holder may, in addition to complying with all Applicable Procedures, transfer or cause the transfer
of such beneficial interest for


 






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an
equivalent beneficial interest in such Regulation S Global Certificate only upon compliance with the provisions of this Section 5.02(c)(ii)(B).
Upon receipt by the Certificate Registrar at the Corporate Trust Office of (1) written instructions given in accordance with
the Applicable Procedures from an Agent Member directing the Certificate Registrar to credit or cause to be credited to another
specified Agent Member’s account a beneficial interest in the Regulation S Global Certificate in an amount equal to the
Denomination of the beneficial interest in the Rule 144A Global Certificate to be transferred, (2) a written order given
in accordance with the Applicable Procedures containing information regarding the account of the Agent Member and, in the case
of a transfer pursuant to and in accordance with Regulation S, the Euroclear or Clearstream account, as the case may be, to be
credited with, and the account of the Agent Member to be debited for, such beneficial interest, and (3) a certificate in
the form of Exhibit I to this Agreement given by the Certificate Owner of such interest, the Certificate Registrar
shall instruct the Depository or the Certificate Custodian, as applicable, to reduce the Denomination of the Rule 144A Global
Certificate by the aggregate Denomination of the beneficial interest in the Rule 144A Global Certificate to be so transferred
and, concurrently with such reduction, to increase the Denomination of the Regulation S Global Certificate by the aggregate Denomination
of the beneficial interest in the Rule 144A Global Certificate to be so transferred, and to credit or cause to be credited
to the account of the Person specified in such instructions a beneficial interest in the Regulation S Global Certificate having
a Denomination equal to the amount by which the Denomination of the Rule 144A Global Certificate was reduced upon such transfer.


 


(C)          Regulation S Global
Certificate to Rule 144A Global Certificate. If the Certificate Owner of an interest in a Regulation S Global Certificate
wishes at any time to transfer its beneficial interest in such Regulation S Global Certificate to a Person who wishes to take delivery
thereof in the form of a beneficial interest in the related Rule 144A Global Certificate, such Certificate Owner may, in addition
to complying with all Applicable Procedures, transfer or cause the transfer of such beneficial interest for an equivalent beneficial
interest in such Rule 144A Global Certificate only upon compliance with the provisions of this Section 5.02(c)(ii)(C).
Upon receipt by the Certificate Registrar at the Corporate Trust Office of (1) written instructions given in accordance with
the Applicable Procedures from an Agent Member directing the Certificate Registrar to credit or cause to be credited to another
specified Agent Member’s account a beneficial interest in the Rule 144A Global Certificate in an amount equal to the
Denomination of the beneficial interest in the Regulation S Global Certificate to be transferred, (2) a written order given
in accordance with the Applicable Procedures containing information regarding the account of the Agent Member to be credited with,
and the account of the Agent Member or, if such account is held for Euroclear or Clearstream, the Euroclear or Clearstream account,
as the case may be, to be debited for, such beneficial interest, and (3) with respect to a transfer of a beneficial interest in
a Regulation S Global Certificate for a beneficial interest in the related Rule 144A Global Certificate (i) during the


 






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Restricted
Period, a certificate in the form of Exhibit J to this Agreement given by the holder of such beneficial interest or
(ii) after the Restricted Period, an Investment Representation Letter from the transferee to the effect that such transferee
is a Qualified Institutional Buyer, the Certificate Registrar shall instruct the Depository or the Certificate Custodian, as applicable,
to reduce the Denomination of the Regulation S Global Certificate by the aggregate Denomination of the beneficial interest in
the Regulation S Global Certificate to be transferred, and, concurrently with such reduction, to increase the Denomination of
the Rule 144A Global Certificate by the aggregate Denomination of the beneficial interest in the Regulation S Global Certificate
to be so transferred, and to credit or cause to be credited to the account of the Person specified in such instructions a beneficial
interest in such Rule 144A Global Certificate having a Denomination equal to the amount by which the Denomination of the
Regulation S Global Certificate was reduced upon such transfer.


 


(iii)          Transfers
from the Private Global Certificates to Individual Certificates. Any and all transfers from a Private Global Certificate to
a transferee wishing to take delivery in the form of an Individual Certificate will require the transferee to take delivery subject
to the restrictions on the transfer of such Individual Certificate described in a legend set forth on the face of such Certificate
substantially in the form of Exhibit F to this Agreement (the “Securities Legend”), and such transferee
agrees that it will transfer such Individual Certificate only as provided therein and herein. No such transfer shall be made and
the Certificate Registrar shall not register any such transfer unless such transfer is made in accordance with this Section 5.02(c)(iii).


 


(A)          Transfers of a beneficial
interest in a Private Global Certificate to an Institutional Accredited Investor will require delivery in the form of an Individual
Certificate and the Certificate Registrar shall register such transfer only upon compliance with the provisions of Section 5.02(c)(i)(C)
of this Agreement.


 


(B)          Transfers of a beneficial
interest in a Private Global Certificate to a Qualified Institutional Buyer or a Regulation S Investor wishing to take delivery
in the form of an Individual Certificate will be registered by the Certificate Registrar only upon compliance with the provisions
of Section 5.02(c)(i)(A) or (B) of this Agreement, respectively.


 


(C)          Notwithstanding the
foregoing, no transfer of a beneficial interest in a Regulation S Global Certificate to an Individual Certificate pursuant to Subparagraph (B)
above shall be made prior to the expiration of the Restricted Period.


 


Upon acceptance for exchange or transfer of
a beneficial interest in a Private Global Certificate for an Individual Certificate, as provided herein, the Certificate Registrar
shall endorse on the schedule affixed to the related Private Global Certificate (or on a continuation of such schedule affixed
to such Private Global Certificate and made a part thereof) an appropriate notation evidencing the date of such exchange or transfer
and a decrease in the Denomination of such Private Global Certificate equal to the


 






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Denomination of such Individual Certificate
issued in exchange therefor or upon transfer thereof. Unless determined otherwise by the Certificate Registrar and the Depositor
in accordance with applicable law, an Individual Certificate issued upon transfer of or exchange for a beneficial interest in the
Private Global Certificate shall bear the Securities Legend.


 


(iv)         Transfers
of Individual Certificates to the Private Global Certificates. If a Holder of an Individual Certificate wishes at any time
to transfer such Certificate to a Person who wishes to take delivery thereof in the form of a beneficial interest in the related
Regulation S Global Certificate or the related Rule 144A Global Certificate, such transfer may be effected only in accordance
with the Applicable Procedures and this Section 5.02(c)(iv). Upon receipt by the Certificate Registrar at the Corporate
Trust Office of (l) the Individual Certificate to be transferred with an assignment and transfer pursuant to Section 5.05(a)
of this Agreement, (2) written instructions given in accordance with the Applicable Procedures from an Agent Member directing
the Certificate Registrar to credit or cause to be credited to a specified Agent Member’s account a beneficial interest in
such Regulation S Global Certificate or such Rule 144A Global Certificate, as the case may be, in an amount equal to the Denomination
of the Individual Certificate to be so transferred, (3) a written order given in accordance with the Applicable Procedures
containing information regarding the account of the Agent Member and, in the case of any transfer pursuant to Regulation S, the
Euroclear or Clearstream account, as the case may be, to be credited with such beneficial interest, and (4) (x) an Investment
Representation Letter from the transferee and, if delivery is to be taken in the form of a beneficial interest in the Regulation
S Global Certificate, a Regulation S Transfer Certificate from the transferor or (y) an Investment Representation Letter from
the transferee to the effect that such transferee is a Qualified Institutional Buyer if delivery is to be taken in the form of
a beneficial interest in the Rule 144A Global Certificate, the Certificate Registrar shall cancel such Individual Certificate,
execute and deliver a new Individual Certificate for the Denomination of the Individual Certificate not so transferred, registered
in the name of the Holder or the Holder’s transferee (as instructed by the Holder), and the Certificate Registrar shall instruct
the Depository or the Certificate Custodian, as applicable, to increase the Denomination of the Regulation S Global Certificate
or the Rule 144A Global Certificate, as the case may be, by the Denomination of the Individual Certificate to be so transferred,
and to credit or cause to be credited to the account of the Person specified in such instructions who, in the case of any increase
in the Regulation S Global Certificate during the Restricted Period, shall be an Agent Member acting for or on behalf of Euroclear
or Clearstream, or both, as the case may be, a corresponding Denomination of the Rule 144A Global Certificate or the Regulation
S Global Certificate, as the case may be.


 


It is the intent of the foregoing that under
no circumstances may an Institutional Accredited Investor that is not a Qualified Institutional Buyer take delivery in the form
of a beneficial interest in a Private Global Certificate, other than the initial transfer from the Initial Purchasers to an initial
investor.


 


(v)          All Transfers.
An exchange of a beneficial interest in a Global Certificate for an Individual Certificate or Certificates, an exchange of an Individual
Certificate or


 






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Certificates
for a beneficial interest in a Global Certificate and an exchange of an Individual Certificate or Certificates for another Individual
Certificate or Certificates (in each case, whether or not such exchange is made in anticipation of subsequent transfer, and, in
the case of the Global Certificates, so long as the Global Certificates remain outstanding and are held by or on behalf of the
Depository), may be made only in accordance with this Section 5.02 and in accordance with the rules of the Depository
and Applicable Procedures.


 


(d)          If Certificates are issued upon
the transfer, exchange or replacement of Certificates not bearing the Securities Legend, the Certificates so issued shall not bear
the Securities Legend. If Certificates are issued upon the transfer, exchange or replacement of Certificates bearing the Securities
Legend, or if a request is made to remove the Securities Legend on a Certificate, the Certificates so issued shall bear the Securities
Legend, or the Securities Legend shall not be removed, as the case may be, unless there is delivered to the Certificate Registrar
such satisfactory evidence, which may include an opinion of counsel (at the expense of the party requesting the removal of such
legend) familiar with United States securities laws, as may be reasonably required by the Certificate Registrar, that neither
the Securities Legend nor the restrictions on transfers set forth therein are required to ensure that transfers of any Certificate
comply with the provisions of Rule 144A or Rule 144 under the Act or that such Certificate is not a “restricted
security” within the meaning of Rule 144 under the Act. Upon provision of such satisfactory evidence, the Certificate
Registrar shall execute and deliver a Certificate that does not bear the Securities Legend.


 


(e)          Subject to the restrictions
on transfer and exchange set forth in Section 5.01(i) and in this Section 5.02, the Holder of any Individual
Certificate may transfer or exchange the same in whole or in part (with a denomination equal to any authorized denomination) by
surrendering such Certificate at the office of the Certificate Administrator or at the office of any transfer agent appointed as
provided under this Agreement, together with an instrument of assignment or transfer (executed by the Holder or its duly authorized
attorney), in the case of transfer, and a written request for exchange, in the case of exchange. Following a proper request for
transfer or exchange, the Certificate Registrar shall, within five Business Days of such request if made at such office of the
Certificate Administrator or within ten Business Days if made at the office of a transfer agent (other than the Certificate Registrar),
execute and deliver at the office of the Certificate Administrator or at the office of such transfer agent, as the case may be,
to the transferee (in the case of transfer) or Holder (in the case of exchange) or send by first-class mail (at the risk of the
transferee in the case of transfer or Holder in the case of exchange) to such address as the transferee or Holder, as applicable,
may request, an Individual Certificate or Certificates, as the case may require, for a like aggregate Denomination and in such
Denomination or Denominations as may be requested. The presentation for transfer or exchange of any Individual Certificate shall
not be valid unless made at the office of the Certificate Administrator or at the office of a transfer agent by the registered
Holder in person, or by a duly authorized attorney-in-fact. The Certificate Registrar may decline to accept any request for an
exchange or registration of transfer of any Certificate during the period of 15 days preceding any Distribution Date.


 


(f)          An Individual Certificate (other
than an Individual Certificate issued in exchange for a beneficial interest in a Global Certificate pursuant to Section 5.01
of this


 






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Agreement)
or a beneficial interest in a Private Global Certificate may only be transferred to Eligible Investors, as described herein. In
the event that a Responsible Officer of the Certificate Registrar has actual knowledge that such an Individual Certificate or
beneficial interest in a Private Global Certificate is being held by or for the benefit of a Person who is not an Eligible Investor,
or that such holding is unlawful under the laws of a relevant jurisdiction, then the Certificate Registrar shall have the right
to void such transfer, if permitted under applicable law, or to require the investor to sell such Individual Certificate or beneficial
interest in a Private Global Certificate to an Eligible Investor within fourteen days after notice of such determination and each
Certificateholder by its acceptance of a Certificate authorizes the Certificate Registrar to take such action.


 


(g)          Subject to the provisions of
this Section 5.02 regarding transfer and exchange, transfers of the Global Certificates shall be limited to transfers
of such Global Certificates in whole, but not in part, to nominees of the Depository or to a successor of the Depository or such
successor’s nominee.


 


(h)          No fee or service charge shall
be imposed by the Certificate Registrar for its services in respect of any registration of transfer or exchange referred to in
this Section 5.02 other than for transfers to Institutional Accredited Investors, as provided herein. In connection
with any transfer to an Institutional Accredited Investor, the transferor shall reimburse the Trust Fund for any costs (including
the cost of the Certificate Registrar’s counsel’s review of the documents and any legal opinions, submitted by the
transferor or transferee to the Certificate Registrar as provided herein) incurred by the Certificate Registrar in connection with
such transfer. The Certificate Registrar may require payment by each transferor of a sum sufficient to cover any tax, expense or
other governmental charge payable in connection with any such transfer.


 


(i)           Subject to Section 5.02(e)
of this Agreement, transfers of the Class R Certificates may be made only in accordance with this Section 5.02(i).
The Certificate Registrar shall register the transfer of a Class R Certificate only if (x) the transferor has advised
the Certificate Registrar in writing that such Certificate is being transferred to a Qualified Institutional Buyer and (y) prior
to such transfer the transferee furnishes to the Certificate Registrar an Investment Representation Letter.


 


(j)           No transfer, sale, pledge or
other disposition of any Class of Private Certificates or interest therein shall be made unless that transfer, sale, pledge or
other disposition is exempt from the registration and/or qualification requirements of the Act and any applicable state securities
laws, or is otherwise made in accordance with the Act and such state securities laws. Neither the Depositor, the Master Servicer,
the Certificate Administrator, the Trustee nor the Certificate Registrar are obligated to register or qualify the Private Certificates
under the Act or any other securities law or to take any action not otherwise required under this Agreement to permit the transfer
of such Private Certificates without registration or qualification. Any Certificateholder desiring to effect such a transfer shall,
and does hereby agree to, indemnify the Depositor, the Master Servicer, the Certificate Administrator, the Trustee and the Certificate
Registrar, against any loss, liability or expense that may result if the transfer is not so exempt or is not made in accordance
with such federal and state laws.


 






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(k)          No transfer of any Class E,
Class F, Class G, Class H or Class R Certificate (each, a “Restricted Certificate”) shall be
made to (i) an employee benefit plan subject to the fiduciary responsibility provisions of ERISA, or Section 4975 of
the Code, or a governmental plan, as defined in Section 3(32) of ERISA, or other plan subject to any federal, state or local
law (“Similar Law”) which is to a material extent similar to the foregoing provisions of ERISA or the Code (each,
a “Plan”) or (ii) a collective investment fund whose underlying assets include Plan assets by reason of
a Plan’s investment in the collective investment fund (pursuant to U.S. Department of Labor Regulation Section 2510.3-101,
as modified by Section 3(42) of ERISA, other than (with respect to transfer of Restricted Certificates other than the Class R Certificates),
an insurance company using the assets of its general account under circumstances whereby such purchase and the subsequent holding
of such Certificate by such insurance company would be exempt from the “prohibited transaction” provisions of Sections 406
and 407 of ERISA and Code Section 4975 under Sections I and III of PTCE 95-60, or a substantially similar exemption under
Similar Law. Each prospective transferee of a Restricted Certificate shall either (A) deliver to the Depositor, the Certificate
Registrar and the Certificate Administrator, a transfer or representation letter, substantially in the form of Exhibit D-2
to this Agreement, stating that the prospective transferee is not a Person referred to in (i) or (ii) above or (B) if
the transferee is such an entity specified in (i) or (ii) above (except in the case of a Class R Certificate, which may not
be transferred unless the transferee represents it is not such an entity), such entity, at its own expense, shall provide any opinion
of counsel, officers’ certificates or agreements as may be required by, and in form and substance satisfactory to, the Depositor,
the Certificate Administrator and the Certificate Registrar, to the effect that the purchase and holding of the Certificates by
or on behalf of a Plan will not constitute or result in a non-exempt prohibited transaction within the meaning of Sections 406
and 407 of ERISA and Section 4975 of the Code, and will not subject the Master Servicer, the Special Servicer, the Operating
Advisor, the Asset Representations Reviewer, the Depositor, the Certificate Administrator, the Trustee or the Certificate Registrar
to any obligation or liability. None of the Certificate Administrator or the Certificate Registrar shall register a Class R Certificate
in any Person’s name unless such Person has provided the letter referred to in clause (A) of the preceding sentence.
The transferee of a beneficial interest in a Global Certificate that is a Restricted Certificate shall be deemed to represent that
it is not a Plan or a Person acting on behalf of any Plan or using the assets of any Plan to acquire such interest other than (with
respect to transfers of beneficial interests in Global Certificates which are Restricted Certificates other than the Class R Certificates)
an insurance company using the assets of its general account under circumstances whereby such transfer to such insurance company
would be exempt from the “prohibited transaction” provisions of Sections 406 and 407 of ERISA and Section 4975
of the Code under Sections I and III of PTCE 95-60, or a substantially similar exemption under Similar Law. Any transfer of
a Restricted Certificate that would violate or result in a non-exempt prohibited transaction under ERISA or Section 4975 of
the Code or Similar Law shall be deemed absolutely null and void ab initio.


 






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(l)           Each Person who has or acquires
any Ownership Interest shall be deemed by the acceptance or acquisition of such Ownership Interest to have agreed to be bound by
the following provisions and the rights of each Person acquiring any Ownership Interest are expressly subject to the following
provisions:


 


(i)           Each Person
acquiring or holding any Ownership Interest shall be a Permitted Transferee and shall not acquire or hold such Ownership Interest
as agent (including a broker, nominee or other middleman) on behalf of any Person that is not a Permitted Transferee. Any such
Person shall promptly notify the Certificate Registrar of any change or impending change in its status (or the status of the beneficial
owner of such Ownership Interest) as a Permitted Transferee. Any acquisition described in the first sentence of this Section 5.02(l)
by a Person who is not a Permitted Transferee or by a Person who is acting as an agent of a Person who is not a Permitted Transferee
shall be void and of no effect, and the immediately preceding owner who was a Permitted Transferee shall be restored to registered
and beneficial ownership of the Ownership Interest as fully as possible.


 


(ii)          No Ownership
Interest may be Transferred, and no such Transfer shall be registered in the Certificate Register, without the express written
consent of the Certificate Registrar, and the Certificate Registrar shall not recognize the Transfer, and such proposed Transfer
shall not be effective, without such consent with respect thereto. In connection with any proposed Transfer of any Ownership Interest,
the Certificate Registrar shall, as a condition to such consent, (x) require delivery to it in form and substance satisfactory
to it, and the proposed transferee shall deliver to the Certificate Registrar and to the proposed transferor an affidavit in substantially
the form attached as Exhibit C-1 (a “Transferee Affidavit”) of the proposed transferee (A) that
such proposed transferee is a Permitted Transferee and (B) stating that (i) the proposed transferee historically has
paid its debts as they have come due and intends to do so in the future, (ii) the proposed transferee understands that, as
the holder of an Ownership Interest, it may incur liabilities in excess of cash flows generated by the residual interest, (iii) the
proposed transferee intends to pay taxes associated with holding the Ownership Interest as they become due, (iv) the proposed
transferee will not transfer the Ownership Interest to any Person that does not provide a Transferee Affidavit or as to which the
proposed transferee has actual knowledge that such Person is not a Permitted Transferee or is acting as an agent (including a broker,
nominee or other middleman) for a Person that is not a Permitted Transferee, (v) the proposed transferee will not cause income
from the Class R Certificate to be attributable to a foreign permanent establishment or fixed base, within the meaning of an applicable
income tax treaty, of the proposed transferee or any other U.S. Person and (vi) the proposed transferee expressly agrees to
be bound by and to abide by the provisions of this Section 5.02(l) and (y) other than in connection with the initial
issuance of the Class R Certificates, require a statement from the proposed transferor substantially in the form attached as Exhibit C-2
(the “Transferor Letter”), that the proposed transferor has no actual knowledge that the proposed transferee
is not a Permitted Transferee and has no actual knowledge or reason to know that the proposed transferee’s statements in
the Transferee Affidavit are false.


 






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(iii)         Notwithstanding
the delivery of a Transferee Affidavit by a proposed transferee under clause (ii) above, if a Responsible Officer of the Certificate
Registrar has actual knowledge that the proposed transferee is not a Permitted Transferee, no Transfer to such proposed transferee
shall be effected and such proposed Transfer shall not be registered on the Certificate Register; provided, that the Certificate
Registrar shall not be required to conduct any independent investigation to determine whether a proposed transferee is a Permitted
Transferee.


 


Neither the Certificate Administrator
nor the Certificate Registrar shall have any obligation or duty to monitor, determine or inquire as to compliance with any restriction
or transfer imposed under Article V of this Agreement or under applicable law with respect to any transfer of any Certificate
(including, without limitation, the Securities Legend), or any interest therein, other than to require delivery of the certification(s)
and/or opinions of counsel described in Article V applicable with respect to changes in registration of record ownership
of Certificates in the Certificate Register. The Certificate Administrator and the Certificate Registrar shall have no liability
for transfers, including transfers made through the book-entry facilities of the Depository or between or among Depository Participants
or Certificate Owners made in violation of applicable restrictions.


 


Upon written notice to the Certificate
Registrar, or upon the Certificate Registrar having actual knowledge, that there has occurred a Transfer to any Person that is
a Disqualified Organization or an agent thereof (including a broker, nominee, or middleman) in contravention of the foregoing restrictions,
and in any event not later than 60 days after a request for information from the transferor of such Ownership Interest, or
such agent, the Certificate Registrar and the Certificate Administrator agree to furnish to the IRS and the transferor of such
Ownership Interest or such agent such information necessary to the application of Section 860E(e) of the Code as may
be required by the Code, including, but not limited to, the present value of the total anticipated excess inclusions with respect
to such Class R Certificate (or portion thereof) for periods after such Transfer. At the election of the Certificate Registrar
and the Certificate Administrator, the Certificate Registrar and the Certificate Administrator may charge a reasonable fee for
computing and furnishing such information to the transferor or to such agent referred to above; provided that such Persons
shall in no event be excused from furnishing such information.


 


Section 5.03     Mutilated,
Destroyed, Lost or Stolen Certificates. If (i) any mutilated Certificate is surrendered to the Certificate Registrar,
or the Certificate Registrar receives evidence to its satisfaction of the destruction, loss or theft of any Certificate, and (ii) there
is delivered to the Certificate Registrar such security or indemnity as may be required by it to save it and the Certificate Administrator
harmless, then, in the absence of actual knowledge by a Responsible Officer of the Certificate Registrar that such Certificate
has been acquired by a bona fide purchaser, the Certificate Administrator or the Authenticating Agent shall execute and authenticate
and the Certificate Registrar shall deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Certificate,
a new Certificate of the same Class and of like tenor and Percentage Interest. Upon the issuance of any new Certificate under
this Section 5.03, the Certificate Registrar may require the payment of a sum sufficient to cover any tax or other
governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Certificate
Registrar) connected therewith. Any


 






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replacement
Certificate issued pursuant to this Section 5.03 shall constitute complete and indefeasible evidence of ownership
of the corresponding interest in the Trust Fund, as if originally issued, whether or not the lost, stolen or destroyed Certificate
shall be found at any time.


 


Section 5.04     Appointment
of Paying Agent. The Certificate Administrator may appoint a paying agent (a “Paying Agent”) for the purpose
of making distributions to Certificateholders pursuant to Section 4.01 of this Agreement. The Certificate Administrator
shall cause such Paying Agent, if other than the Certificate Administrator, the Trustee or the Master Servicer, to execute and
deliver to the Master Servicer and the Trustee an instrument in which such Paying Agent shall agree with the Master Servicer and
the Trustee that such Paying Agent will hold all sums held by it for the payment to Certificateholders in trust for the benefit
of the Certificateholders entitled thereto until such sums have been paid to the Certificateholders or disposed of as otherwise
provided herein. The initial Paying Agent shall be the Certificate Administrator. Except for the Certificate Administrator, as
the initial Paying Agent, the Paying Agent shall at all times be an entity having a long-term unsecured debt rating of at least
“A2” by Moody’s, “A” from Fitch and “A” by DBRS (or, if not rated by DBRS, an equivalent
(or higher) rating by any two other NRSROs), or shall be otherwise acceptable to each Rating Agency, as confirmed by a receipt
of a Rating Agency Confirmation.


 


Section 5.05     Access
to Certificateholders’ Names and Addresses; Special Notices. (a) If any Certifying Certificateholder (for purposes
of this Section 5.05, an “Applicant”) applies in writing to the Certificate Registrar, and such
application states that the Applicant desires to communicate with other Certificateholders with respect to its rights under this
Agreement, the Certificate Registrar shall, within ten (10) Business Days after the receipt of such request, afford such Certificateholder
(at such Certificateholder’s sole cost and expense) access during normal business hours to a current list of the Certificateholders
related to the Class of Certificates held by such Certificateholder.


 


Any Certificateholder or Certificate
Owner wishing to communicate with other Certificateholders and Certificate Owners regarding the exercise of its rights under the
terms of this Agreement (such party, a “Requesting Investor”) may deliver a written request (a “Communication
Request”) signed by an authorized representative of the Requesting Investor to the Certificate Administrator. Any Communication
Request shall contain the method other Certificateholders and Certificate Owners should use to contact the Requesting Investor,
and, if the Requesting Investors is not the registered holder of a Class of Certificates, then the Communication Request must contain
(i) a written certification from the Requesting Investor that it is a beneficial owner of a class of certificates, (ii) the name
of the transaction, DBJPM 2016-C1 and (iii) one of the following forms of documentation evidencing its beneficial ownership in
such class of certificates: (A) a trade confirmation, (B) an account statement, (C) a medallion stamp guaranteed letter from a
broker or dealer stating the Requesting Investor is the beneficial owner, or (D) a document reasonably acceptable to the Certificate
Administrator that is similar to any of the documents identified in clauses (A) through (C). The Certificate Administrator shall
not be permitted to require any information other than the foregoing in verifying a Certificateholder’s or Certificate Owner’s
identity in connection with a Communication Request. Requesting Investors will be responsible for their own expenses in making
any Communication Request, but will not be required to bear any expenses of the


 






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Certificate
Administrator. Upon receipt of such request, the Certificate Administrator shall furnish or cause to be furnished to such Applicant
a list of the names and addresses of the Certificateholders as of the most recent Record Date.


 


(b)          Every Certificateholder, by
receiving and holding its Certificate, agrees with the Certificate Administrator and the Certificate Registrar that the Certificate
Administrator and the Certificate Registrar shall not be held accountable in any way by reason of the disclosure of any information
as to the names and addresses of the Certificateholders hereunder, regardless of the source from which such information was derived.


 


(c)          Upon the written request of
any Certifying Certificateholder that (a) states that such Certificateholder desires the Certificate Administrator to transmit
a notice to all Certificateholders stating that such Certificateholder wishes to be contacted by other Certificateholders, setting
forth the relevant contact information and briefly stating the reason for the requested contact and (b) provides a copy of
the Special Notice which such Certificateholder proposes to transmit, the Certificate Administrator shall deliver such Special
Notice to all Certificateholders at their respective addresses appearing on the Certificate Register. The costs and expenses of
the Certificate Administrator associated with delivering with any such Special Notice shall be borne by the party requesting such
Special Notice. Every Certificateholder, by receiving and holding a Certificate, agrees that neither the Certificate Administrator
nor the Certificate Registrar shall be held accountable by reason of the disclosure of any such Special Notice to Certificateholders,
regardless of the information set forth in such Special Notice.


 


Section 5.06     Actions
of Certificateholders. (a) Any request, demand, authorization, direction, notice, consent, waiver or other action provided
by this Agreement to be given or taken by Certificateholders may be embodied in and evidenced by one or more instruments of substantially
similar tenor signed by such Certificateholders in person or by agent duly appointed in writing; and except as herein otherwise
expressly provided, such action shall become effective when such instrument or instruments are delivered to the Certificate Administrator
and the Trustee and, when required, to the Master Servicer. Proof of execution of any such instrument or of a writing appointing
any such agent shall be sufficient for any purpose of this Agreement and conclusive in favor of the Certificate Administrator,
the Trustee and the Master Servicer, if made in the manner provided in this Section.


 


(b)          The fact and date of the execution
by any Certificateholder of any such instrument or writing may be proved in any reasonable manner which the Certificate Administrator
or the Trustee deems sufficient.


 


(c)          Any request, demand, authorization,
direction, notice, consent, waiver or other act by a Certificateholder shall bind every Holder of every Certificate issued upon
the registration of transfer thereof or in exchange therefor or in lieu thereof, in respect of anything done, or omitted to be
done, by the Certificate Administrator or the Trustee or the Master Servicer in reliance thereon, whether or not notation of such
action is made upon such Certificate.


 


(d)          The Certificate Administrator,
the Trustee or Certificate Registrar may require such additional proof of any matter referred to in this Section 5.06
as it shall deem necessary.


 






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Section 5.07     Rule
144A Information. The Certificate Administrator shall, upon request of any Certifying Certificateholder that is a Holder of
a Private Certificate or any beneficial owner of such a Certificate, furnish to such Holder or beneficial owner or a prospective
purchaser designated by such Holder or beneficial owner who is a Qualified Institutional Buyer the information required to be
delivered under Rule 144A(d)(4) under the Act, to the extent such information has been provided to the Certificate Administrator
and has been identified as Rule 144A information (which shall include all information on the Certificate Administrator’s
Website and all information currently required to be made available to Certificateholders, as well as any other specifically identified
information herein), if at the time of such request periodic reports are not being filed with respect to the Trust under Section
13 or Section 15(d) of the Exchange Act.


 


Section 5.08     Voting
Procedures. With respect to any matters submitted to Certificateholders for a vote, the Certificate Administrator shall administer
such vote through the Depository with respect to Book-Entry Certificates and directly with registered Holders by mail with respect
to Definitive Certificates. In each case, such vote shall be administered in accordance with the following procedures, unless
different procedures are otherwise described herein with respect to a specific vote:


 


(a)          Any matter submitted to Certificateholders
for a vote shall be announced in a notice prepared by the Certificate Administrator. Such notice shall include the record date
determined by the Certificate Administrator for purposes of the vote and a voting deadline which shall be no less than thirty (30)
days and no later than sixty (60) days after the date such notice is distributed. The notice and related ballot shall be sent to
Holders of Book-Entry Certificates through the Depository and by mail to the registered Holders of Definitive Certificates. In
addition, the notice and related ballot shall be posted to the Certificate Administrator’s Website. Notices delivered in
this manner shall be considered delivered to all Holders regardless of whether any Holder actually receives the notice and ballot.


 


(b)          In connection with any vote
administered pursuant to this Agreement, voting Holders shall be required to certify their holdings in the manner set forth on
the ballot, unless a specific manner is otherwise provided herein. Holders may only vote in accordance with their Voting Rights.
Voting Rights with respect to any outstanding Class of Certificates shall be calculated by the Certificate Administrator in accordance
with the definition of Voting Rights as of the record date for the vote. Only Classes with an outstanding Certificate Balance greater
than zero as of the record date of the vote shall be permitted to vote. Once a Holder has cast its vote, the vote may be changed
or retracted on or before the vote deadline. Any changes or retractions shall be communicated by the Certificateholder to the Certificate
Administrator in writing on a ballot. After the vote deadline has passed, votes may not be changed or retracted by any Holder unless
the Holder wishing to change or retract its vote holds a sufficient portion of the Voting Rights such that the Holder, by its vote
alone, could approve or deny the proposition subject to a vote without taking into consideration the votes cast by any other Holder.
Transferees or purchasers of any Class of Certificates are subject to and shall be bound by all votes of Holders initiated or conducted
prior to its acquisition of such Certificate.


 


(c)          The Certificate Administrator
may take up to fifteen (15) Business Days to tabulate the results of any vote. The Certificate Administrator shall use its reasonable
efforts to resolve any illegible or incomplete ballots received prior to the voting deadline. Illegible or


 






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incomplete
ballots that are received on the voting deadline or that cannot be resolved by the voting deadline shall not be counted. Promptly
after the votes are tabulated, the Certificate Administrator shall prepare a notice announcing the results of the vote. Such notice
shall include the percentage of Voting Rights in favor of the proposition, the percentage against the proposition and the percentage
abstaining. In addition, the notice will announce whether the proposition has been adopted by Certificateholders. The notice shall
be distributed in accordance with the methods described in Section 5.08(a) above. The Certificate Administrator shall also
include such notice on the Form 10-D prepared in connection with the distribution period that corresponds with the date such notice
is distributed. All vote tabulations shall be final and the Certificate Administrator shall not, absent manifest error, retabulate
the votes or conduct a new vote for the same proposition.


 


(d)          Unless otherwise paid for by
any Holder pursuant to Section 8.01 or Section 8.02, or clause (e) below, any and all reasonable expenses
incurred by the Certificate Administrator in connection with administering any vote shall be borne by the Trust. The Certificate
Administrator is under no obligation to advise Holders about the matter being voted on or answer questions other than process-related
questions regarding the administration of the vote.


 


(e)          If any party to this Agreement
believes a vote of Certificateholders is needed for some matter related to the administration of the Trust that is not specifically
contemplated herein, such party may request the Certificate Administrator to conduct a vote and the Certificate Administrator will
conduct the requested vote in accordance with these procedures. Unless specifically provided herein, all such votes require a majority
of Certificateholders to carry a proposition.


 


Article VI

THE DEPOSITOR, THE MASTER SERVICER, THE SPECIAL SERVICER, THE DIRECTING HOLDER, THE OPERATING ADVISOR AND THE ASSET REPRESENTATIONS
REVIEWER


 


Section 6.01     Liability
of the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor and the Asset Representations Reviewer.
The Depositor, the Master Servicer, the Special Servicer, the Operating Advisor and the Asset Representations Reviewer each shall
be liable in accordance herewith only to the extent of the obligations specifically imposed by this Agreement.


 


Section 6.02     Merger
or Consolidation of the Master Servicer, the Special Servicer, the Depositor, the Asset Representations Reviewer or the Operating
Advisor. Subject to the following paragraph, each of the Master Servicer and the Special Servicer shall keep in full effect
its existence, rights and good standing as a national banking association under the laws of the United States of America, and
shall not jeopardize its ability to do business in each jurisdiction in which the Mortgaged Properties securing the Mortgage Loans
that it is servicing are located or to protect the validity and enforceability of this Agreement, the Certificates or any of such
Mortgage Loans that it is servicing and to perform its respective duties under this Agreement. In addition, subject to the following
paragraph, the Operating Advisor and the Asset Representations Reviewer shall keep in full effect its existence, rights and good
standing as a


 






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limited
liability company under the laws of the State of New York and shall not jeopardize its ability to do business in each jurisdiction
in which the Mortgaged Properties are located or to protect the validity and enforceability of this Agreement, the Certificates
or any of such Mortgage Loans and to perform its respective duties under this Agreement.


 


Each of the Master Servicer, the Special
Servicer, the Depositor, the Operating Advisor or the Asset Representations Reviewer may be merged or consolidated with or into
any Person, or transfer all or substantially all of its assets to any Person, in which case any Person into which the Master Servicer,
the Special Servicer, the Depositor, the Operating Advisor or the Asset Representations Reviewer may be merged or consolidated,
or any Person resulting from any merger or consolidation to which the Master Servicer, the Special Servicer, the Depositor, the
Operating Advisor or the Asset Representations Reviewer is a party, or any Person succeeding to the business of the Master Servicer,
the Special Servicer, the Depositor, the Operating Advisor or the Asset Representations Reviewer, shall be the successor of the
Master Servicer, the Special Servicer, the Depositor, the Operating Advisor or the Asset Representations Reviewer, as applicable,
hereunder, and shall be deemed to have assumed all of the liabilities of the Master Servicer, the Special Servicer, the Depositor,
the Operating Advisor or the Asset Representations Reviewer, as applicable, hereunder, if each of the Rating Agencies has provided
a Rating Agency Confirmation relating to the Certificates and Serviced Companion Loan Securities, if any; provided that
none of the Master Servicer, the Special Servicer or the Operating Advisor shall be required to obtain a Rating Agency Confirmation
from any Rating Agency if the Master Servicer, Special Servicer or Operating Advisor, as applicable, is merged into or consolidated
with a Qualified Affiliate or transfers all or substantially all of its assets to a Qualified Affiliate; provided, further,
if the Master Servicer, the Special Servicer or the Operating Advisor enters into a merger and the Master Servicer, the Special
Servicer or the Operating Advisor, as applicable, is the surviving entity under applicable law, the Master Servicer, the Special
Servicer or the Operating Advisor, as applicable, shall not, as a result of the merger, be required to provide a Rating Agency
Confirmation or obtain the consent of the Depositor. Notwithstanding the foregoing, no Master Servicer, Special Servicer, the Operating
Advisor or the Asset Representations Reviewer may remain the Master Servicer, Special Servicer, the Operating Advisor or the Asset
Representations Reviewer, as applicable, under this Agreement after (x) being merged or consolidated with or into any Person
that is a Prohibited Party, or (y) transferring all or substantially all of its assets to any Person if such Person is a Prohibited
Party, except to the extent (i) the Master Servicer, the Special Servicer, the Operating Advisor or the Asset Representations
Reviewer, as applicable, is the surviving entity of such merger, consolidation or transfer and has been and continues to be in
compliance with its Regulation AB reporting obligations hereunder or (ii) the Depositor consents to such merger, consolidation
or transfer, which consent shall not be unreasonably withheld. The Asset Representations Reviewer shall keep in full effect its
existence and rights as an entity under the laws of the jurisdiction of its organization, and shall be in compliance with the laws
of all jurisdictions to the extent necessary to perform its duties under this Agreement. Any Person into which the Asset Representations
Reviewer may be merged or consolidated, or any Person resulting from any merger or consolidation to which the Asset Representations
Reviewer shall be a party, or any Person succeeding to the business of the Asset Representations Reviewer, shall be the successor
of the Asset Representations Reviewer hereunder, and shall be deemed to have assumed all of the liabilities and obligations of
such Asset Representations Reviewer hereunder, without the execution or filing of any paper or any further act on the part of any
of the parties


 






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hereto,
anything herein to the contrary notwithstanding; provided, however, that the Trustee has received a Rating Agency Confirmation
with respect to such successor or surviving Person.


 


Section 6.03     Limitation
on Liability of the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor, the Asset Representations Reviewer
and Others. (a) None of the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor, the Asset Representations
Reviewer nor any Affiliates, partners, shareholders, directors, officers, employees, members, managers, representatives or agents
(including sub-servicers) of the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor or the Asset Representations
Reviewer shall be under any liability to the Trust Fund, the Certificateholders, any Serviced Companion Loan Noteholders, any
party hereto or any third party beneficiary for any action taken, or for refraining from the taking of any action, in good faith
pursuant to this Agreement (including actions taken or not taken at the direction of any Directing Holder), or for errors in judgment;
provided, that this provision shall not protect the Depositor, the Master Servicer, the Special Servicer, the Operating
Advisor or the Asset Representations Reviewer, or any Affiliate, representative, member, manager, director, officer, employee
or agent (including sub-servicers) of the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor or the Asset
Representations Reviewer, against any breach of warranties or representations made herein, or against any liability which would
otherwise be imposed by reason of willful misconduct, bad faith or negligence (or in the case of (x) the Master Servicer
or Special Servicer, by reason of any specific liability imposed hereunder for a breach of the Servicing Standard, (y) the
Operating Advisor, by reason of any specific liability imposed hereunder for a breach of the Operating Advisor Standard or (z)
the Asset Representations Reviewer, by reason of any specific liability imposed hereunder for a breach of the Asset Review Standard)
in the performance of duties or by reason of negligent disregard of obligations or duties hereunder. The Depositor, the Master
Servicer, the Special Servicer, the Operating Advisor, the Asset Representations Reviewer and any Affiliate, representative, member,
manager, director, officer, employee or agent (including sub-servicers) of the Depositor, the Master Servicer, the Special Servicer
or the Operating Advisor may rely in good faith on any document of any kind which, prima facie, is properly executed and
submitted by any appropriate Person respecting any matters arising hereunder. In addition, in no event shall the Depositor be
obligated to cause any party to perform or comply with the obligations to remit the CREFC® Intellectual Property
Royalty License Fee to CREFC®, to report any such CREFC® Intellectual Property Royalty License Fee
so paid or to make available any Distribution Date Statement to the general public (or in particular, CREFC®).


 


The Trust Fund and each Serviced Companion
Loan Noteholder shall be indemnified and held harmless by each of the Master Servicer, the Special Servicer and the Operating Advisor
(severally and not jointly) for any loss, liability or expense (including legal fees and expenses) incurred in connection with
any claim, loss, penalty, fine, foreclosure, judgment or liability relating to this Agreement or the Certificates, incurred by
the Trust Fund or such Serviced Companion Loan Noteholder, as applicable, by reason of willful misconduct, bad faith, fraud or
negligence in the performance of duties hereunder, or by reason of negligent disregard of obligations and duties thereunder, on
the part of such indemnifying party.


 


The Depositor, the Master Servicer,
the Special Servicer, the Operating Advisor, the Asset Representations Reviewer and any Affiliates, directors, officers, employees,
members,


 






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managers,
representatives and agents (including sub-servicers) of the Depositor, the Master Servicer, the Special Servicer, the Operating
Advisor and the Asset Representations Reviewer shall be indemnified and held harmless by the Trust Fund for any loss, liability
or expense (including legal fees and expenses) incurred in connection with any claim, loss, penalty, fine, foreclosure, judgment,
liability or legal action relating to this Agreement or the Certificates, other than any loss, liability or expense (including
legal fees and expenses) (i) incurred by such party by reason of willful misconduct, bad faith, fraud or negligence in the
performance of duties hereunder or by reason of negligent disregard of obligations and duties thereunder or (ii) in the case
of the Depositor and any of its Affiliates, directors, officers, representatives, members, managers, employees and agents, incurred
in connection with any violation by any of them of any state or federal securities law; provided that such indemnified
parties shall be paid out of the Collection Account in accordance with Section 3.06(a) of this Agreement; provided,
further, that if such matter relates directly to any Serviced Whole Loan, such indemnified parties shall be paid first
out of the applicable Serviced Whole Loan Collection Account (allocated in accordance with the expense allocation provision
of the related Intercreditor Agreement), and then, if funds therein are insufficient, out of the Collection Account; provided
that the Master Servicer shall, after receiving payment from amounts on deposit in the Collection Account, if any, (i) promptly
notify the related Companion Loan Noteholder and (ii) use commercially reasonable efforts to exercise on behalf of the Trust
any rights under the related Intercreditor Agreement to obtain reimbursement for a pro rata portion of such amount allocable
to the related Serviced Companion Loans from the related Companion Loan Noteholders.


 


The Depositor shall indemnify the Asset
Representations Reviewer and the Operating Advisor and each of their respective Affiliates and each of their respective directors,
officers, employees, representatives and agents, and hold each of them harmless against any and all claims, losses, damages, penalties,
fines, forfeitures, reasonable legal fees and related costs, judgments, and any other costs, fees and expenses that such indemnified
party may sustain in connection with this Agreement (including, without limitation, reasonable fees and disbursements of counsel
incurred by such indemnified party in any action or proceeding between the Depositor and such indemnified party or between such
indemnified party and any third party or otherwise) resulting from the Depositor’s willful misconduct, bad faith, fraud or
negligence in the performance of each of its duties hereunder or by reason of negligent disregard of its respective obligations
and duties hereunder.


 


The Operating Advisor shall indemnify
the Asset Representations Reviewer and the Depositor and each of their respective Affiliates and each of their respective directors,
officers, employees, representatives and agents, and hold each of them harmless against any and all claims, losses, damages, penalties,
fines, forfeitures, reasonable legal fees and related costs, judgments, and any other costs, fees and expenses that such indemnified
party may sustain in connection with this Agreement (including, without limitation, reasonable fees and disbursements of counsel
incurred by such indemnified party in any action or proceeding between the Operating Advisor and such indemnified party or between
such indemnified party and any third party or otherwise) resulting from the Operating Advisor’s willful misconduct, bad faith,
fraud or negligence in the performance of each of its duties hereunder or by reason of negligent disregard of its respective obligations
and duties hereunder.


 






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The Asset Representations Reviewer
shall indemnify the Master Servicer, the Special Servicer, the Trustee, the Certificate Administrator, the Depositor, the Operating
Advisor and the Trust and each of their Affiliates and any partner, director, officer, shareholder, member, manager, employee,
representative or agent thereof, and hold them harmless, from and against any and all claims, losses, damages, penalties, fines,
forfeitures, reasonable legal fees and related costs, judgments, and any other costs, liabilities, fees and expenses that any of
them may sustain arising from or as a result of any willful misconduct, bad faith, fraud or negligence of the Asset Representations
Reviewer in the performance of its obligations and duties under this Agreement or by reason of negligent disregard by the Asset
Representations Reviewer of its duties and obligations hereunder.


 


(b)          None of the Depositor, the Master
Servicer, the Special Servicer, the Operating Advisor or the Asset Representations Reviewer shall be under any obligation to appear
in, prosecute or defend any legal action that (i) is not incidental to its respective duties under this Agreement or (ii) in its
opinion, may expose it to any expense or liability not recoverable from the Trust Fund; provided, that each of the Depositor,
the Master Servicer, the Special Servicer or the Operating Advisor may in its discretion undertake any such action that it may
deem necessary or desirable in respect to this Agreement and the rights and duties of the parties hereto and the interests of the
Certificateholders and holders of Serviced Companion Loan Securities, if applicable, hereunder. In such event, the legal expenses
and costs of such action and any liability resulting therefrom shall be expenses, costs and liabilities of the Trust Fund and the
Depositor, the Master Servicer, the Special Servicer and the Operating Advisor shall be entitled to be reimbursed therefor from
the Collection Account in accordance with Section 3.06(a) of this Agreement) no later than 60 days after submitting
such expenses or costs for reimbursement, provided that a failure to reimburse such parties within such 60 days will not affect
or limit such parties’ rights to receive reimbursement hereunder; provided, further, that in the case of any Serviced
Whole Loan, such amounts shall be allocated in accordance with the expense allocation provision of the related Intercreditor Agreement,
and such parties shall be entitled to be reimbursed first, from the applicable Serviced Whole Loan Collection Account
and then, from the Collection Account, all in accordance with Section 3.06(a) of this Agreement and the related
Intercreditor Agreement.


 


(c)          The terms of this Section 6.03
shall survive the termination of any party hereto or of this Agreement.


 


Section 6.04     Limitation
on Resignation of the Master Servicer, the Special Servicer and the Operating Advisor; Termination of the Master Servicer, the
Special Servicer and the Operating Advisor. (a) Each of the Master Servicer, the Special Servicer and the Operating Advisor
may assign their respective rights and delegate their respective duties and obligations under this Agreement in connection with
the sale or transfer of a substantial portion of their commercial mortgage servicing, asset management or (solely with respect
to the Operating Advisor) commercial mortgage surveillance, portfolio, provided that: (i) the purchaser or transferee
accepting such assignment and delegation (A) shall be an established mortgage finance institution, bank or mortgage servicing
institution (or, in the case of the Operating Advisor, an Eligible Operating Advisor), organized and doing business under the
laws of the United States of America, any state of the United States of America or the District of Columbia, authorized under
such laws to perform the duties of the Master Servicer, Special


 






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Servicer
or Operating Advisor or a Person resulting from a merger, consolidation or succession that is permitted under Section 6.02
of this Agreement, (B) shall be acceptable to each Rating Agency as confirmed in a Rating Agency Confirmation
delivered to the Trustee and the Certificate Administrator relating to the Certificates and Serviced Companion Loan
Securities, if any, (C) shall execute and deliver to the Trustee and the Certificate Administrator an agreement that
contains an assumption by such Person of the due and punctual performance and observance of each covenant and condition to be
performed or observed by the Master Servicer, Special Servicer or Operating Advisor, as applicable under this Agreement from
and after the date of such agreement and (D) shall not be a Prohibited Party; (ii) the Master Servicer, the Special
Servicer or the Operating Advisor shall not be released from its obligations under this Agreement that arose prior to the
effective date of such assignment and delegation under this Section 6.04; (iii) the rate at which the
Servicing Compensation, Special Servicing Compensation or Operating Advisor Fee, as applicable (or any component thereof) is
calculated shall not exceed the rate then in effect and (iv) the resigning Master Servicer, Special Servicer or
Operating Advisor, as applicable, shall be responsible for the reasonable costs and expenses of each other party hereto and
the Rating Agencies in connection with such transfer. Upon acceptance of such assignment and delegation, the purchaser or
transferee shall be the successor Master Servicer, Special Servicer or Operating Advisor, as applicable, hereunder.


 


(b)          Except as provided in Section 6.02
of this Agreement and this Section 6.04, the Master Servicer, the Special Servicer and the Operating Advisor shall
not resign from its respective obligations and duties hereby imposed on it except (i) upon determination that such duties
hereunder are no longer permissible under applicable law, (ii) in connection with the assignment of rights and delegation
of duties as set forth in Section 6.04(a), or (iii) solely with respect to the Operating Advisor, pursuant to Section
6.04(e). Any such determination described in clause (i) above permitting the resignation of the Master Servicer, the Special
Servicer or the Operating Advisor, as applicable, shall be evidenced by an Opinion of Counsel (obtained at the resigning Master
Servicer’s, Special Servicer’s or Operating Advisor’s expense) to such effect delivered to the Trustee and the
Certificate Administrator.


 


(c)          The Trustee shall be permitted
to remove the Master Servicer or the Special Servicer upon a Master Servicer Termination Event or Special Servicer Termination
Event, as applicable. Without limiting the generality of the succeeding paragraph, no such removal shall be effective unless and
until (i) the Master Servicer or the Special Servicer has been paid any unpaid Servicing Compensation or Special Servicing
Compensation, as applicable, unreimbursed Advances (including Advance Interest Amounts thereon to which it is entitled) and all
other amounts to which the Master Servicer or the Special Servicer is entitled hereunder to the extent such amounts accrue prior
to such effective date and (ii) with respect to a resignation by the Master Servicer, the successor Master Servicer has deposited
into the Investment Accounts from which amounts were withdrawn to reimburse the terminated Master Servicer, an amount equal to
the amounts so withdrawn, to the extent such amounts would not have been permitted to be withdrawn except pursuant to this paragraph,
in which case the successor Master Servicer shall, immediately upon deposit, have the same right of reimbursement or payment as
the terminated Master Servicer had immediately prior to its termination without regard to the operation of this paragraph.


 






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(d)          No resignation or removal of the Master Servicer, the Special Servicer or the Operating Advisor as contemplated
by the preceding paragraphs of this Section 6.04 shall become effective until (i) the Trustee or a successor Master
Servicer, Special Servicer or Operating Advisor shall have assumed the resigning or terminated Master Servicer’s, Special
Servicer’s or Operating Advisor’s responsibilities, duties, liabilities and obligations hereunder, (ii) the Certificate
Administrator shall have filed any required Form 8-K pursuant to Section 10.09,
and (iii) any other information required under Section 10.03 or Section 10.09 has been delivered to any applicable
Other Depositor with respect to any related Companion Loan. If no successor Master Servicer, Special Servicer or Operating Advisor
can be obtained to perform such obligations for the same compensation to which the terminated Master Servicer, Special Servicer
or Operating Advisor would have been entitled, additional amounts payable to such successor Master Servicer, Special Servicer or
Operating Advisor shall be treated as Realized Losses.


 


(e)          The Operating Advisor shall
have the right to resign without cost or expense upon the occurrence of the Early Termination Notice Date.  The Operating
Advisor shall provide all of the parties to this Agreement and the Controlling Class Representative 30 days prior written notice
of any such resignation pursuant to this Section 6.04(e).  If the Operating Advisor resigns pursuant to this Section 6.04(e),
then no replacement Operating Advisor shall be appointed.  The resigning Operating Advisor shall be entitled, and subject,
to any rights and obligations that accrued under this Agreement prior to the date of any such resignation (including accrued and
unpaid compensation) and any indemnifications rights arising out of events occurring prior to such resignation.


 


The Operating Advisor may resign from
its obligations and duties hereby imposed on it (a) upon thirty (30) days’ prior written notice to the Depositor, the Master
Servicer, the Special Servicer, the Trustee, the Certificate Administrator, the Asset Representations Reviewer and the Directing
Holder, if applicable, and (b) upon the appointment of, and the acceptance of such appointment by, a successor Operating Advisor
that is an Eligible Operating Advisor and receipt by the Trustee of Rating Agency Confirmation from each Rating Agency. No such
resignation by the Operating Advisor shall become effective until the replacement Operating Advisor shall have assumed the resigning
Operating Advisor’s responsibilities and obligations. The resigning Operating Advisor shall pay all costs and expenses (including
costs and expenses incurred by the Trustee and the Certificate Administrator) associated with a transfer of its duties pursuant
to this Section 6.04(e).


 


Section 6.05     Rights
of the Depositor and the Trustee in Respect of the Master Servicer and the Special Servicer. Solely with respect to their
performance of their respective duties under this Agreement, the Master Servicer and the Special Servicer shall afford the Depositor,
the Underwriters, the Initial Purchasers, the Certificate Administrator, the Trustee and the Rating Agencies, upon reasonable
notice, during normal business hours access to all records maintained by it in respect of its rights and obligations hereunder
and access to its officers responsible for such obligations. Upon written request, the Master Servicer and/or the Special Servicer,
as applicable, shall furnish to the Depositor, the Master Servicer, the Special Servicer, the Certificate Administrator and the
Trustee its most recent publicly available financial statements (or, with respect to the Master Servicer, those of its ultimate
parent) and such other non-proprietary information as the Master Servicer or the Special Servicer, as the case may be, shall determine
in its sole and absolute discretion as it possesses, which is relevant to the


 






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performance
of its duties hereunder and which it is not prohibited by applicable law or contract from disclosing. The Depositor may, but is
not obligated to, enforce the obligations of the Master Servicer or the Special Servicer hereunder which are in default and may,
but is not obligated to, perform, or cause a designee to perform, any defaulted obligation of such Person hereunder or exercise
any rights of such Person hereunder, provided that the Master Servicer and the Special Servicer shall not be relieved of
any of its obligations hereunder by virtue of such performance by the Depositor or its designee. If the Depositor or its designee
undertakes any such action, it will be reimbursed by the Trust Fund from the Collection Accounts (or with respect to a Serviced
Whole Loan, to the extent such reimbursement is allocable to such Serviced Whole Loan Collection Account), as provided in Section 3.06
and Section 6.03(a) hereof to the extent not recoverable from the Master Servicer or Special Servicer, as applicable.
None of the Depositor, the Certificate Administrator, the Trustee, the Master Servicer (solely with respect to any action or failure
to act by the Special Servicer) or the Special Servicer (solely with respect to any action or failure to act by the Master Servicer)
shall have any responsibility or liability for any action or failure to act by the Master Servicer or the Special Servicer and
no such party is obligated to monitor or supervise the performance of the Master Servicer or the Special Servicer under this Agreement
or otherwise. Neither the Master Servicer nor the Special Servicer shall be under any obligation to disclose confidential or proprietary
information pursuant to this Section.


 


Section 6.06     The
Master Servicer or Special Servicer as Owners of a Certificate. The Master Servicer or an Affiliate of the Master Servicer,
or the Special Servicer or an Affiliate of the Special Servicer, may become the Holder (or with respect to a Global Certificate,
Certificate Owner) of any Certificate with the same rights it would have if it were not the Master Servicer or the Special Servicer
or an Affiliate thereof. If, at any time during which the Master Servicer or the Special Servicer or an Affiliate of the Master
Servicer or the Special Servicer is the Holder or Certificate Owner of any Certificate, the Master Servicer or the Special Servicer
proposes to take action (including for this purpose, omitting to take action) that (i) is not expressly prohibited by the
terms hereof and would not, in the Master Servicer’s or the Special Servicer’s good faith judgment, violate the Servicing
Standard, and (ii) if taken, might nonetheless, in the Master Servicer’s or the Special Servicer’s good faith
judgment, be considered by other Persons to violate the Servicing Standard, the Master Servicer or the Special Servicer may, but
will not be required to, seek the approval of the Certificateholders to such action (or inaction) by delivering to the Certificate
Administrator a written notice that (i) states that it is delivered pursuant to this Section 6.06, (ii) identifies
the Percentage Interest in each Class of Certificates beneficially owned by the Master Servicer or the Special Servicer or an
Affiliate of the Master Servicer or the Special Servicer and (iii) describes in reasonable detail the action (or inaction)
that the Master Servicer or the Special Servicer proposes to take (or refrain from taking). The Certificate Administrator, upon
receipt of such notice, shall forward it to the Certificateholders (other than the Master Servicer and its Affiliates or the Special
Servicer and its Affiliates, as appropriate) together with such instructions for response as the Certificate Administrator shall
reasonably determine. If at any time Certificateholders holding a majority of the Voting Rights of all Certificateholders and,
if no Control Termination Event has occurred and is continuing, the applicable Directing Holder (calculated without regard to
the Certificates beneficially owned by the Master Servicer or its Affiliates or the Special Servicer or its Affiliates, as applicable)
shall have consented in writing to the proposal described in the written notice, and if the Master Servicer or the Special Servicer
shall act as proposed in the written notice, such action shall be deemed to comply with the Servicing Standard. The Certificate


 






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Administrator
shall be entitled to reimbursement from the Master Servicer or the Special Servicer, as applicable, of the reasonable expenses
of the Certificate Administrator incurred pursuant to this paragraph. It is not the intent of the foregoing provision that the
Master Servicer or the Special Servicer be permitted to invoke the procedure set forth herein with respect to routine servicing
matters arising hereunder, except in the case of unusual circumstances.


 


Section 6.07     The
Directing Holder. (a) For so long as no Control Termination Event has occurred and is continuing, the Directing Holder shall
be entitled to advise (1) the Special Servicer with respect to all Specially Serviced Loans (other than any Excluded Mortgage
Loan or Servicing Shift Mortgage Loan) and (2) the Special Servicer with respect to Performing Loans (other than any Excluded
Mortgage Loan or Servicing Shift Mortgage Loan) as to all matters for which the Master Servicer must obtain the consent or deemed
consent of the Special Servicer. Notwithstanding anything herein to the contrary, except as set forth in, and in any event subject
to the second and third paragraphs of this Section 6.07, both (1) the Master Servicer shall not be permitted
to take any action constituting a Major Decision unless it has obtained the prior written consent of the Special Servicer and
(2) for so long as no Control Termination Event has occurred and is continuing, the Special Servicer shall not be permitted
to consent to the Master Servicer’s taking any of the following actions nor will the Special Servicer itself be permitted
to take any action constituting a Major Decision as to which the Directing Holder has objected in writing within ten (10) Business
Days (or 30 days with respect to clause (j) of the definition of “Major Decision”) after receipt of the written recommendation
and analysis together with such other information reasonably requested by the Directing Holder (provided that if such written
objection has not been received by the Special Servicer within such ten (10) Business Day period (or 30 days with respect to clause
(j) of the definition of “Major Decision” or such longer period provided for in any related Intercreditor Agreement
but not less than five (5) Business Days after the time period set forth therein for Directing Holder approval), then the Directing
Holder will be deemed to have approved such action); provided that, if the Special Servicer or Master Servicer (if the
Master Servicer is otherwise authorized by this Agreement to take such action), as applicable, determines that immediate action,
with respect to the foregoing matters, or any other matter requiring consent of the Directing Holder (if no Control Termination
Event has occurred and is continuing) in this Agreement, is necessary to protect the interests of the Certificateholders and,
with respect to any Serviced Whole Loan, the related Serviced Companion Loan Noteholders (as a collective whole as if such Certificateholders
and, if applicable, Serviced Companion Loan Noteholders constituted a single lender and with respect to any Serviced Whole Loan
with a related Subordinate Companion Loan, taking into account the subordinate nature of such Subordinate Companion Loan) and
the Special Servicer has made a reasonable effort to contact the Directing Holder, the Master Servicer or the Special Servicer,
as the case may be, may take any such action without waiting for the Directing Holder’s response; provided, however,
that the failure of the Directing Holder or the Operating Advisor to respond will not relieve the Special Servicer from seeking
consent of or consulting with, as applicable, the Directing Holder or the Operating Advisor on any future matters with respect
to the applicable Mortgage Loan or Serviced Whole Loan or any other Mortgage Loan. The Special Servicer is not required to obtain
the consent of the Directing Holder for any Major Decision if a Control Termination Event has occurred and is continuing; provided
that, if a Control Termination Event has occurred and is continuing, the Special Servicer shall consult with the Operating
Advisor in connection with any Major Decision and consider alternative actions recommended by the Operating Advisor; provided,
further, that, if a Control Termination


 






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Event
has occurred and is continuing but no Consultation Termination Event has occurred, the Special Servicer shall consult with the
Directing Holder in connection with any Major Decision and any other matters set forth in this Agreement as to which the consent
or approval of the Directing Holder would have been required or as to which the Directing Holder would have had the right to advise
or direct the Special Servicer or the Master Servicer if no Control Termination Event had occurred and was continuing and consider
alternative actions recommended by the Directing Holder; provided, further, that such consultation with the Directing
Holder or the Operating Advisor is not binding on the Special Servicer.


 


In addition, for so long as no Control
Termination Event has occurred and is continuing, the Directing Holder may direct the Special Servicer to take, or to refrain from
taking, such other actions with respect to a Mortgage Loan as the Directing Holder may deem advisable or as to which provision
is otherwise made herein; provided that, notwithstanding anything herein to the contrary, no such direction, and no objection
contemplated by the preceding paragraph or this paragraph, may require or cause the Master Servicer or the Special Servicer, as
applicable, to violate any provision of any Mortgage Loan, applicable law, this Agreement, any Intercreditor Agreement or the REMIC
Provisions, including without limitation the Special Servicer’s obligation to act in accordance with the Servicing Standard,
or expose the Master Servicer, the Special Servicer, the Paying Agent, the Trust Fund, the Certificate Administrator or the Trustee
to liability, or materially expand the scope of the Special Servicer’s responsibilities hereunder.


 


If the Special Servicer or Master Servicer,
as applicable, determines that a refusal to consent by the Directing Holder, or any advice from the Directing Holder, would otherwise
cause the Special Servicer or Master Servicer, as applicable, to violate the terms of any Mortgage Loan, any Intercreditor Agreement,
applicable law, the REMIC Provisions or this Agreement, including without limitation, the Servicing Standard, the Special Servicer
or Master Servicer, as applicable, shall disregard such refusal to consent or advice and notify the Directing Holder, the Trustee,
the related Serviced Companion Loan Noteholder (if any) and the 17g-5 Information Provider (who shall promptly post such notice
to the 17g-5 Information Provider’s Website pursuant to Section 3.14(d) of this Agreement) of its determination,
including a reasonably detailed explanation of the basis therefor. The taking of, or refraining from taking, any action by the
Master Servicer or Special Servicer in accordance with the direction of or approval of the Directing Holder that does not violate
any law or the Servicing Standard or any other provisions of this Agreement or any Intercreditor Agreements will not result in
any liability on the part of the Master Servicer or the Special Servicer.


 


Notwithstanding anything to the contrary
contained in this Agreement, with respect to the Non-Serviced Mortgage Loans, (i) at all times when no Consultation Termination
Event has occurred, the Controlling Class Representative shall be entitled to the rights of the “Non-Directing Holder”
(or similar term) under the related Intercreditor Agreement and (ii) at no time shall the Operating Advisor be entitled to
the rights of the “Non-Directing Holder” (or similar term) under the related Intercreditor Agreement.


 


The Directing Holder shall have no
liability to the Trust Fund, any party to this Agreement, any Certificateholders or any other Person for any action taken, or for
refraining from the taking of any action, or for errors in judgment; provided that the Directing Holder shall not be protected
against any liability to a Controlling Class Certificateholder that would


 






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otherwise
be imposed by reason of willful misconduct, bad faith or negligence in the performance of duties or by reason of reckless disregard
of obligations or duties.


 


(b)          Notwithstanding anything to
the contrary contained herein (i) if a Control Termination Event has occurred and is continuing, the Directing Holder shall
have no right to consent to any action taken or not taken by any party to this Agreement; (ii) if a Control Termination Event
has occurred and is continuing but no Consultation Termination Event has occurred, the Directing Holder shall remain entitled to
receive any notices, reports or information to which it is entitled pursuant to this Agreement, and the Master Servicer, Special
Servicer and any other applicable party shall consult with the Directing Holder in connection with any action to be taken or refrained
from taking to the extent set forth herein; and (iii) if a Consultation Termination Event has occurred, the Directing Holder
shall have no consultation or consent rights hereunder and no right to receive any notices, reports or information (other than
notices, Voting Rights given to all Certificateholders and rights to receive reports or information required to be delivered to
all Certificateholders) or any other rights as Directing Holder.


 


(c)          The Master Servicer, the Special
Servicer, the Trustee or the Operating Advisor, may from time to time request that the Certificate Administrator provide the name
of the then-current Directing Holder for any applicable Mortgage Loan or Serviced Whole Loan. Upon such request, the Certificate
Administrator shall promptly (but in no event more than five (5) Business Days following such request) provide the name of
the then-current Directing Holder to the Master Servicer, the Special Servicer, the Trustee or the Operating Advisor, but only
to the extent the Certificate Administrator has actual knowledge of the identity of the then-current Directing Holder; provided
that if the Certificate Administrator does not have actual knowledge of the identity of the then-current Directing Holder, then
the Certificate Administrator shall promptly (i) determine which Class is the Controlling Class and (ii) request from the Controlling
Class Certificateholders the identity of the Directing Holder. Any expenses incurred in connection with obtaining such information
shall be at the expense of the requesting party, except that if (i) such expenses arise in connection with an event as to
which the Directing Holder (or Controlling Class Representative) has review, consent or consultation rights with respect to an
action taken by, or report prepared by, the requesting party pursuant to this Agreement or in connection with a request made by
the Operating Advisor in connection with its obligation under this Agreement to deliver a copy of the Operating Advisor Annual
Report to the Controlling Class Representative and (ii) the requesting party has not been notified of the identity of the
Directing Holder (or Controlling Class Representative) or reasonably believes that the identity of the Directing Holder (or Controlling
Class Representative) has changed, then such expenses shall be at the expense of the Trust. The Master Servicer, the Special Servicer,
the Trustee and the Operating Advisor, shall be entitled to conclusively rely on any such information so provided.


 


To the extent the Master Servicer or
the Special Servicer has written notice of any change in the identity of a Directing Holder or the list of Holders (or Certificate
Owners, if applicable) of the Controlling Class, then the Master Servicer or the Special Servicer, as applicable, shall promptly
notify the Trustee, the Certificate Administrator, the Operating Advisor, the Master Servicer and the Special Servicer thereof,
who may rely conclusively on such notice from the Master Servicer or the Special Servicer, as applicable.


 






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Section 6.08     Rights
of Non-Directing Holders. With respect to each Serviced Whole Loan, the Master Servicer or the Special Servicer, as applicable,
shall:


 


(a)          consult with the related Non-Directing
Holder (or its designee or representative) on a strictly non-binding basis, to the extent that such Non-Directing Holder (or its
designee or representative) requests consultation with respect to any “major decision” or “major action”
set forth in the related Intercreditor Agreement or the implementation of any recommended actions outlined in an Asset Status Report
relating to the Serviced Whole Loan, and to consider alternative actions recommended by such Non-Directing Holder (or its designee
or representative); provided, that after the expiration of a period of ten (10) Business Days from the delivery to the related
Non-Directing Holder (or its designee or representative) of written notice of a proposed action, together with copies of the related
notice, information or report, the Master Servicer or Special Servicer, as applicable, shall no longer be obligated to consult
with the applicable Non-Directing Holder (or its designee or representative) (unless the Master Servicer or Special Servicer, as
applicable, proposes a new course of action that is materially different from the action previously proposed, in which case such
ten (10) Business Day period shall begin anew from the date of such proposal and delivery of all information relating thereto).
Notwithstanding the foregoing non-binding consultation rights of the Non-Directing Holder, the Master Servicer or the Special Servicer,
as applicable, may take any “major decision” or “major action” set forth in the related Intercreditor Agreement
or any action set forth in the Asset Status Report before the expiration of the aforementioned ten (10) Business Day period if
the Master Servicer or the Special Servicer, as applicable, determines that immediate action with respect thereto is necessary
to protect the interests of the Certificateholder and the related Companion Loan Noteholder. Unless specified otherwise in the
related Intercreditor Agreement, neither the Master Servicer or the Special Servicer shall be obligated at any time to follow or
take any alternative actions recommended by the Non-Directing Holder; and


 


(b)          in addition to the foregoing
non-binding consultation rights, if provided for in the related Intercreditor Agreement, the Non-Directing Holder shall have the
right to annual conference calls with the Master Servicer or the Special Servicer at the offices of the Master Servicer or the
Special Servicer, as applicable, upon reasonable notice and at times reasonably acceptable to the Master Servicer or the Special
Servicer, as applicable, in which servicing issues related to the related Whole Loan are discussed.


 


Article VII



SERVICER AND OPERATING ADVISOR TERMINATION


 


Section 7.01     Servicer
Termination Events. (a) “Master Servicer Termination Event,” wherever used herein, means any one of the following
events:


 


(i)           any
failure by the Master Servicer (A) to make any deposit required to the Collection Account or the related Serviced Whole Loan
Collection Account for any Serviced Whole Loan on the day and by the time such deposit was first required to be made under the
terms of this Agreement, which failure is not remedied within two Business Days, (B) to deposit into, or remit to the Certificate
Administrator for deposit into, any Distribution Account any amount required to be so deposited or remitted


 






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(including,
without limitation, any required P&I Advance, unless the Master Servicer determines such P&I Advance is a Nonrecoverable
Advance), which failure is not remedied by 11:00 a.m. (New York City time) on the relevant Distribution Date (provided,
that to the extent the Master Servicer does not timely make such remittance to the Certificate Administrator, the Master Servicer
shall pay the Certificate Administrator for the account of the Certificate Administrator interest on any amount not timely remitted
at the Prime Rate from and including the applicable required remittance date to, but not including, the date such remittance is
actually made), or (C) to remit to any holder of a Serviced Companion Loan, as and when required by this Agreement or any
related Intercreditor Agreement, any amount required to be so remitted (which failure continues for two Business Days);


 


(ii)          any failure
on the part of the Master Servicer duly to observe or perform in any material respect any of its other covenants or obligations
contained in this Agreement, which failure continues unremedied for a period of 30 days (15 days in the case of the Master
Servicer’s failure to make a Servicing Advance or 45 days in the case of failure to pay the premium for any insurance policy
required to be force placed by the Master Servicer pursuant to this Agreement or in any event such reasonable shorter period of
time as is necessary to avoid the commencement of foreclosure proceedings for any lien relating to unpaid real estate taxes or
assessments or a lapse in any required insurance coverage) after the date on which written notice of such failure, requiring the
same to be remedied, shall have been given to the Master Servicer, by (a) any other party hereto, with a copy to each other
party to this Agreement, (b) the Holders of Certificates of any Class evidencing Percentage Interests aggregating not less
than 25% of such Class or (c) an affected Serviced Companion Loan Noteholder; provided, if such failure is capable
of being cured and the Master Servicer is diligently pursuing such cure, such 15-, 30- or 45-day period, as applicable, will be
extended an additional 30 days;


 


(iii)         any breach
on the part of the Master Servicer of any representation or warranty contained in Section 2.04(a) of this Agreement,
which materially and adversely affects the interests of any Class of Certificateholders or Serviced Companion Loan Noteholders
and which continues unremedied for a period of 30 days after the date on which notice of such breach, requiring the same to
be remedied, shall have been given (a) to the Master Servicer by any party hereto or (b) to the Master Servicer, the
Special Servicer, the Depositor and the Trustee (x) by the Holders of Certificates of any Class evidencing Percentage Interests
aggregating not less than 25% of such Class or (y) by an affected Serviced Companion Loan Noteholder; provided, if such
breach is capable of being cured and the Master Servicer is diligently pursuing such cure, such 30-day period will be extended
an additional 30 days;


 


(iv)        a decree or
order of a court or agency or supervisory authority having jurisdiction in the premises in an involuntary case under any present
or future federal or state bankruptcy, insolvency or similar law for the appointment of a conservator, receiver, liquidator, trustee
or similar official in any bankruptcy, insolvency, readjustment of debt, marshaling of assets and liabilities or similar proceedings,
or for the winding-up or liquidation of its affairs, shall have been entered against the Master Servicer and such


 






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decree
or order shall have remained in force undischarged, undismissed or unstayed for a period of 60 days;


 


(v)          the Master Servicer
shall consent to the appointment of a conservator, receiver, liquidator, trustee or similar official in any bankruptcy, insolvency,
readjustment of debt, marshaling of assets and liabilities or similar proceedings of or relating to the Master Servicer or of or
relating to all or substantially all of its property;


 


(vi)         the Master
Servicer shall admit in writing its inability to pay its debts generally as they become due, file a petition to take advantage
of any applicable bankruptcy, insolvency or reorganization statute, make an assignment for the benefit of its creditors, voluntarily
suspend payment of its obligations or take any corporate action in furtherance of the foregoing;


 


(vii)        (a) Moody’s
has (A) qualified, downgraded or withdrawn its rating or ratings of one or more Classes of Certificates, or (B) placed one or more
Classes of Certificates on “watch status” in contemplation of possible rating downgrade or withdrawal (and such qualification,
downgrade or withdrawal or “watch status” placement shall not have been withdrawn by Moody’s within sixty (60)
days of such event), and, in the case of either of clause (A) or (B), publicly citing servicing concerns with the Master Servicer
as the sole or a material factor in such rating action, (b) DBRS has (A) qualified, downgraded or withdrawn its rating or ratings
of one or more Classes of Certificates, or (B) placed one or more Classes of Certificates on “watch status” in contemplation
of possible rating downgrade or withdrawal (and such qualification, downgrade or withdrawal or “watch status” placement
shall not have been withdrawn by DBRS within sixty (60) days of such event), and, in the case of either of clause (A) or (B), publicly
citing servicing concerns with the Master Servicer as the sole or a material factor in such rating action, or (c) the Master Servicer
is no longer rated at least “CMS3” by Fitch and such Master Servicer is not reinstated to at least that rating within
60 days of the delisting; or


 


(viii)       subject to
Section 10.16(c), any failure by the Master Servicer to deliver (a) any Exchange Act reporting items required
to be delivered by the Master Servicer to the Trustee or the Certificate Administrator under Article X (other than
items to be delivered by a Mortgage Loan Seller Sub-Servicer) by the time required under Article X after any applicable
grace periods or (b) any Exchange Act reporting items that a primary servicer, sub-servicer or Servicing Function Participant
(such entity, the “Sub-Servicing Entity”) retained by the Master Servicer (but excluding any Mortgage Loan Seller
Sub-Servicer) is required to deliver (any Sub-Servicing Entity shall be terminated if it defaults in accordance with the provision
of this clause (viii));


 


then, and in each and every such case, so long as a Master
Servicer Termination Event shall not have been remedied, the Trustee may, and at the written direction of (x) the Holders
of at least 25% of the aggregate Voting Rights of all Certificates or (y) the Depositor with respect to clause (viii)
above upon five (5) Business Days’ notice, shall, terminate all of the rights and obligations of the Master Servicer (other
than as set forth in Section 7.01(d)). In the case of clause (vii), the Certificate Administrator shall be required
to notify Certificateholders and Serviced Companion Loan Noteholders of such Master Servicer Termination Event and request


 






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whether
such Certificateholders and, if applicable, Serviced Companion Loan Noteholders favor such termination.


 


If the Master Servicer is also the
Special Servicer and the Master Servicer is terminated as provided in this Section 7.01, then the Master Servicer shall
also be terminated as Special Servicer.


 


If the Master Servicer receives notice
of termination under this Section 7.01(a) solely due to a Master Servicer Termination Event under Section 7.01(a)(vii)
and if the Master Servicer provides the Trustee with the appropriate “request for proposal” materials within five (5)
Business Days following such termination notice, then the Master Servicer shall continue to serve as Master Servicer hereunder
until a successor Master Servicer is selected in accordance with this Section 7.01(a). Upon receipt of the “request
for proposal” materials, the Trustee shall promptly thereafter (using such “request for proposal” materials provided
by the Master Servicer) solicit good faith bids for the rights to service the Mortgage Loans and Serviced Companion Loans under
this Agreement from at least three (3) Persons qualified to act as Master Servicer hereunder in accordance with Section 6.02
and 7.02 of this Agreement (any such Person so qualified, a “Qualified Bidder”) or, if three (3) Qualified
Bidders cannot be located, then from as many persons as the Trustee can determine are Qualified Bidders; provided that,
at the Trustee’s request, the Master Servicer shall supply the Trustee with the names of Persons from whom to solicit such
bids; and provided, further, that the Trustee shall not be responsible if less than three (3) or no Qualified Bidders
submit bids for the right to service the Mortgage Loans and Serviced Companion Loans under this Agreement. The bid proposal shall
require any Successful Bidder (as defined below), as a condition of such bid, to enter into this Agreement as successor Master
Servicer, and to agree to be bound by the terms hereof, within 45 days after the notice of termination of the Master Servicer.
The materials provided to the Trustee shall provide for soliciting bids: (i) on the basis of such successor Master Servicer
retaining all Sub-Servicers to continue the primary servicing of the Mortgage Loans and Serviced Companion Loans pursuant to the
terms of the respective Sub-Servicing Agreements and entering into a Sub-Servicing Agreement with the terminated Master Servicer
to service each of the Mortgage Loans and Serviced Companion Loans for which it was the Master Servicer and not subject to a Sub-Servicing
Agreement at a sub-servicing fee rate per annum equal to, for each Mortgage Loan and Serviced Companion Loan serviced, the excess
of the related Servicing Fee Rate minus the related Excess Servicing Fee Rate (each, a “Servicing Retained Bid”);
and (ii) on the basis of terminating each Sub-Servicing Agreement and Sub-Servicer that it is permitted to terminate in accordance
with Section 3.01(c) of this Agreement (each, a “Servicing Released Bid”). The Trustee shall select
the Qualified Bidder with the highest cash Servicing Retained Bid (or, if none, the highest cash Servicing Released Bid from any
Person qualified to act as a Master Servicer) (the “Successful Bidder”) to act as successor Master Servicer
hereunder; provided, that if the Trustee does not receive a Rating Agency Confirmation in accordance with the procedures
set forth in Section 3.30 of this Agreement with respect to such Successful Bidder, then the Trustee shall repeat the
bid process described above (but subject to the above described 45 day time period) until such Rating Agency Confirmation is obtained.
The Trustee shall direct the Successful Bidder to enter into this Agreement as successor Master Servicer pursuant to the terms
hereof no later than 45 days after notice of the termination of the Master Servicer; provided, that the initial Master Servicer
may request and obtain, with the prior written consent of the Directing Holder, an additional 20 days for such sale and assumption
to be completed so


 






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long
as the initial Master Servicer delivers to the Trustee an Officer’s Certificate stating that the sale and assumption of the right
to service the Mortgage Loans and Serviced Companion Loans cannot be completed in the initial 45-day period and specifying the
reasons therefor.


 


Upon the assignment and acceptance
of master servicing rights hereunder (subject to the terms of Section 3.12 of this Agreement) to and by the Successful
Bidder, the Trustee shall remit or cause to be remitted (i) if the successful bid was a Servicing Retained Bid, to the Master
Servicer to be terminated pursuant to this Section 7.01(a), the amount of such cash bid received from the Successful
Bidder (net of “out of pocket” expenses incurred in connection with obtaining such bid and transferring servicing)
and (ii) if the successful bid was a Servicing Released Bid, to the Master Servicer and each terminated Sub-Servicer its respective
Bid Allocation.


 


The Master Servicer to be terminated
pursuant to this Section 7.01(a) shall be responsible for all out of pocket expenses incurred in connection with the
attempt to sell its rights to service the Mortgage Loans and Serviced Companion Loans, which expenses are not reimbursed to the
party that incurred such expenses pursuant to the preceding paragraph.


 


If the Successful Bidder has not entered
into this Agreement as successor Master Servicer within the above described time period or no Successful Bidder was identified
within the above described time period, the Master Servicer to be terminated pursuant to Section 7.01(a) of this Agreement
shall reimburse the Trustee for all reasonable “out of pocket” expenses incurred by the Trustee in connection with
such bid process and the Trustee shall have no further obligations under this Section 7.01(a). The Trustee thereafter
may act or may select a successor to act as Master Servicer hereunder in accordance with Section 7.02 of this Agreement.


 


Notwithstanding anything to the contrary
in this Article VII, if the Master Servicer shall timely deliver the notice and request for proposal materials referred
to in the fourth preceding paragraph, no resignation or termination of the Master Servicer shall be effective in connection with
a Master Servicer Termination Event under Section 7.01(a)(vii) of this Agreement, and the Master Servicer shall
continue to perform as such and to collect the servicing fee until the conclusion of the process described in this Section 7.01(a).


 


(b)          “Special Servicer Termination
Event,” wherever used herein, means any one of the following events:


 


(i)           any failure
by the Special Servicer to deposit into the REO Account at or within the time specified by this Agreement and such failure continues
unremedied for two Business Days, or any failure by the Special Servicer to remit to Master Servicer for deposit into, the Collection
Account (or, in the case of a Serviced Whole Loan, the related Serviced Whole Loan Collection Account) any amount required to be
so remitted by the Special Servicer pursuant to, and at the time specified by, the terms of this Agreement; provided, that
the failure of the Special Servicer to remit such amount to the Master Servicer shall not be a Special Servicer Termination Event
if such failure is remedied within two Business Days and if the Special Servicer has compensated the Master Servicer for any loss
of income on such amount suffered by the Master Servicer due to and caused by the late remittance of the Special Servicer and reimburse
the Trust for any resulting Advance Interest Amount due to the Master Servicer;


 






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(ii)          any failure
on the part of the Special Servicer duly to observe or perform in any material respect any of its other covenants or obligations
contained in this Agreement, which failure continues unremedied for a period of 30 days (45 days in the case of failure to
pay the premium for any insurance policy required to be force placed by the Special Servicer pursuant to this Agreement or in any
event such reasonable shorter period of time as is necessary to avoid the commencement of foreclosure proceedings for any lien
relating to unpaid real estate taxes or assessments or a lapse in any required insurance coverage) after the date on which written
notice of such failure, requiring the same to be remedied, shall have been given to the Special Servicer, by (a) any other
party hereto, with a copy to each other party to this Agreement, (b) the Holders of Certificates of any Class evidencing Percentage
Interests aggregating not less than 25% of such Class or (c) an affected Serviced Companion Loan Noteholder; provided,
if such failure is capable of being cured and the Special Servicer is diligently pursuing such cure, such 30- or 45-day period,
as applicable, will be extended an additional 30 days;


 


(iii)         any breach
on the part of the Special Servicer of any representation or warranty contained in Section 2.04(b) of this Agreement,
which materially and adversely affects the interests of any Class of Certificateholders or Serviced Companion Loan Noteholders
and which continues unremedied for a period of 30 days after the date on which notice of such breach, requiring the same to
be remedied, shall have been given (a) to the Special Servicer by any party hereto, or (b) to the Master Servicer, the
Special Servicer, the Depositor and the Trustee (x) by the Holders of Certificates of any Class evidencing Percentage Interests
aggregating not less than 25% of such Class or (y) by an affected Serviced Companion Loan Noteholder; provided, if
such breach is capable of being cured and the Special Servicer is diligently pursuing such cure, such 30-day period will be extended
an additional 30 days;


 


(iv)        a decree or
order of a court or agency or supervisory authority having jurisdiction in the premises in an involuntary case under any present
or future federal or state bankruptcy, insolvency or similar law for the appointment of a conservator, receiver, liquidator, trustee
or similar official in any bankruptcy, insolvency, readjustment of debt, marshaling of assets and liabilities or similar proceedings,
or for the winding-up or liquidation of its affairs, shall have been entered against the Special Servicer and such decree or order
shall have remained in force undischarged, undismissed or unstayed for a period of 60 days;


 


(v)          the Special
Servicer shall consent to the appointment of a conservator, receiver, liquidator, trustee or similar official in any bankruptcy,
insolvency, readjustment of debt, marshaling of assets and liabilities or similar proceedings of or relating to the Special Servicer
or of or relating to all or substantially all of its property;


 


(vi)         the Special
Servicer shall admit in writing its inability to pay its debts generally as they become due, file a petition to take advantage
of any applicable bankruptcy, insolvency or reorganization statute, make an assignment for the benefit of its creditors, voluntarily
suspend payment of its obligations or take any corporate action in furtherance of the foregoing;


 






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(vii)        (a) Moody’s
has (A) qualified, downgraded or withdrawn its rating or ratings of one or more Classes of Certificates, or (B) placed one or more
Classes of Certificates on “watch status” in contemplation of possible rating downgrade or withdrawal (and such qualification,
downgrade or withdrawal or “watch status” placement shall not have been withdrawn by Moody’s within sixty (60)
days of such event), and, in the case of either of clause (A) or (B), publicly citing servicing concerns with the Special Servicer
as the sole or a material factor in such rating action, (b) DBRS has (A) qualified, downgraded or withdrawn its rating or ratings
of one or more Classes of Certificates, or (B) placed one or more Classes of Certificates on “watch status” in contemplation
of possible rating downgrade or withdrawal (and such qualification, downgrade or withdrawal or “watch status” placement
shall not have been withdrawn by DBRS within sixty (60) days of actual knowledge by the Special Servicer of such event), and, in
the case of either of clause (A) or (B), publicly citing servicing concerns with the Special Servicer as the sole or a material
factor in such rating action, or (c)  the Special Servicer is no longer rated at least “CSS3” by Fitch and such
Special Servicer is not reinstated to at least that rating within 60 days of the delisting; or


 


(viii)       subject to
Section 10.16(c), any failure by the Special Servicer to deliver (a) any Exchange Act reporting items required
to be delivered by the Special Servicer to the Trustee or the Certificate Administrator under Article X by the time
required under Article X after any applicable grace periods or (b) any Exchange Act reporting items that a primary
servicer, sub-servicer or Servicing Function Participant (such entity, the “Sub-Servicing Entity”) retained
by the Special Servicer (but excluding any Mortgage Loan Seller Sub-Servicer) is required to deliver (any Sub-Servicing Entity
shall be terminated if it defaults in accordance with the provision of this clause (viii).


 


then, and in each and every such case, so long as a Special
Servicer Termination Event shall not have been remedied, the Trustee may, and at the written direction of (x) the Holders
of at least 25% of the aggregate Voting Rights of all Certificates, (y) for so long as no Control Termination Event has occurred
and is continuing, the Directing Holder or (z) the Depositor with respect to clause (viii) above upon five (5) Business Days’
notice, shall, terminate all of the rights and obligations of the Special Servicer (other than the rights to indemnification provided
in Section 6.03(a) of this Agreement and compensation provided in Section 3.12(c) of this Agreement). In
the case of clause (vii) above, the Trustee shall, upon actual knowledge by a Responsible Officer of such Special Servicer
Termination Event, be required to notify the Special Servicer and the Certificate Administrator, and the Certificate Administrator,
upon receipt of such notice or upon actual knowledge by a Responsible Officer of such Special Servicer Termination Event, shall
notify the Certificateholders and Serviced Companion Loan Noteholders of such Special Servicer Termination Event and request whether
such Certificateholders and, if applicable, the Serviced Companion Loan Noteholders favor such termination.


 


(c)          Notwithstanding Section 7.01(a),
(i) if any Master Servicer Termination Event occurs that affects a Serviced Companion Loan and the Master Servicer is not
otherwise terminated or (ii) if an NRSRO engaged to rate a Serviced Companion Loan Security qualifies, downgrades or withdraws
its rating of such Serviced Companion Loan Security, citing servicing concerns with the Master Servicer as the sole or a material
factor in such rating action and that


 






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rating
action is not withdrawn within 60 days, then the Trustee, at the direction of the Companion Loan Noteholder, shall direct the
Master Servicer to appoint a sub-servicer (or if a sub-servicer is then sub-servicing such Serviced Whole Loan, to appoint a new
sub-servicer to service such Serviced Whole Loan, but only if such existing sub-servicer is in default after any applicable cure
periods under the related sub-servicing agreement, and the Master Servicer shall be permitted to terminate the sub-servicing agreement
due to such default) with respect all of the rights and obligations of the Master Servicer under this Agreement related to such
Serviced Whole Loan. The Master Servicer shall appoint a replacement sub-servicer with respect to such Serviced Whole Loan; provided,
that such sub-servicer meets the eligibility requirements of a successor master servicer under Section 7.02 (including
receipt of a Rating Agency Confirmation relating to the Certificates and Serviced Companion Loan Securities, if any) and the eligibility
requirements of each Other Pooling and Servicing Agreement.


 


(d)          Notwithstanding Section 7.01(b),
(i) if any Special Servicer Termination Event occurs that affects a Serviced Companion Loan and the Special Servicer is not
otherwise terminated or (ii) if an NRSRO engaged to rate a Serviced Companion Loan Security qualifies, downgrades or withdraws
its rating of such Serviced Companion Loan Security, citing servicing concerns with the Special Servicer as the sole or a material
factor in such rating action and that rating action is not withdrawn within 60 days, then the Trustee, at the direction of the
Companion Loan Noteholder, shall terminate the Special Servicer with respect to the related Serviced Whole Loan only, but no other
Mortgage Loan.


 


(e)          If the Master Servicer or the
Special Servicer is terminated pursuant to this Section 7.01, the Trustee (the “Terminating Party”) shall,
by notice in writing to the Master Servicer or the Special Servicer, as the case may be (the “Terminated Party”),
terminate all of its rights and obligations under this Agreement and in and to the Mortgage Loans and the proceeds thereof, other
than any rights the Terminated Party has to Excess Servicing Fees, any rights it has hereunder as a Certificateholder and any rights
or obligations that accrued prior to the date of such termination (including the right to receive all amounts accrued or owing
to it under this Agreement, plus interest at the Reimbursement Rate on such amounts until received to the extent such amounts bear
interest as provided in this Agreement, with respect to periods prior to the date of such termination and the right to the benefits
of Section 6.03 of this Agreement notwithstanding any such termination), and with respect to the Special Servicer,
the right to receive any Workout Fee subsequent to its termination as Special Servicer, pursuant to Section 3.12(c)
of this Agreement. No successor Special Servicer shall be entitled to such Workout Fee received by the terminated Special Servicer.
On or after the receipt by the Terminated Party of such written notice, all of its authority and power under this Agreement, whether
with respect to the Certificates (except that the Terminated Party shall retain its rights as a Certificateholder if and to the
extent that it is a Certificateholder), the Mortgage Loans, the Serviced Companion Loans or otherwise, shall pass to and be vested
in the Terminating Party pursuant to and under this Section and, without limitation, the Terminating Party is hereby authorized
and empowered to execute and deliver, on behalf of and at the expense of the Terminated Party, as attorney-in-fact or otherwise,
any and all documents and other instruments, and to do or accomplish all other acts or things necessary or appropriate to effect
the purposes of such notice of termination, whether to complete the transfer and endorsement or assignment of the Mortgage Loans
and related documents, or otherwise. The Master Servicer and the Special Servicer each agree in the event it is terminated pursuant
to this Section 7.01 to promptly (and in


 






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any
event no later than ten Business Days subsequent to such notice) provide, at its own expense, the Terminating Party with all documents
and records requested by the Terminating Party to enable the Terminating Party to assume its functions hereunder, and to cooperate
with the Terminating Party and the successor to its responsibilities hereunder in effecting the termination of its responsibilities
and rights hereunder, including, without limitation, the transfer to the successor Master Servicer or Special Servicer or the
Terminating Party, as applicable, for administration by it of all cash amounts which shall at the time be or should have been
credited by the Master Servicer or the Special Servicer to the Collection Account, the applicable Serviced Whole Loan Collection
Account, any REO Account, the Loss of Value Reserve Fund, any Gain-on-Sale Reserve Account, Lock-Box Account or Cash Collateral
Account or which shall thereafter be received with respect to the Mortgage Loans, and shall promptly provide the Terminating Party
or such successor Master Servicer or successor Special Servicer (which may include the Trustee) all documents and records reasonably
requested by it, such documents and records to be provided in such form as the Terminating Party or such successor Master Servicer
or Special Servicer shall reasonably request (including electronic form), to enable it to assume the Master Servicer’s or
Special Servicer’s function hereunder. All reasonable costs and expenses of the Terminating Party (including the cost of
obtaining a Rating Agency Confirmation and any applicable indemnity) or the successor Master Servicer or successor Special Servicer
incurred in connection with transferring the Mortgage Files to the successor Master Servicer or Special Servicer and amending
this Agreement to reflect such succession as successor Master Servicer or successor Special Servicer pursuant to this Section 7.01
shall be paid by the predecessor Master Servicer or the Special Servicer, as applicable, upon presentation of reasonable documentation
of such costs and expenses. If the predecessor Master Servicer or Special Servicer (as the case may be) has not reimbursed the
Terminating Party or the successor Master Servicer or Special Servicer for such expenses within 90 days after the presentation
of reasonable documentation, such expense shall be reimbursed by the Trust Fund; provided that the Terminated Party shall
not thereby be relieved of its liability for such expenses. If and to the extent that the Terminated Party has not reimbursed
such costs and expenses, the Terminating Party shall have an affirmative obligation to take all reasonable actions to collect
such expenses on behalf of the Trust Fund.


 


In no event shall the Trustee or the
Certificate Administrator be deemed to have knowledge of, or be aware of, any Master Servicer Termination Event or Special Servicer
Termination Event until a Responsible Officer of the Trustee or the Certificate Administrator, as the case may be, has received
written notice thereof or has actual knowledge thereof.


 


No removal or replacement of the Master Servicer or the Special Servicer as contemplated by this Agreement
shall become effective until (i) the Trustee or a successor Master Servicer or Special Servicer shall have assumed the resigning
or terminated Master Servicer’s or Special Servicer’s responsibilities, duties, liabilities and obligations hereunder,
(ii) the Certificate Administrator shall have filed any required Form 8-K pursuant to Section 10.09,
and (iii) any other information required under Section 10.03 or Section 10.09 has been delivered to any applicable
Other Depositor with respect to any related Companion Loan.


 


Section 7.02     Trustee
to Act; Appointment of Successor. Upon the receipt of a notice of termination by the Master Servicer or the Special Servicer
pursuant to Section 7.01 of this Agreement, the Terminating Party (subject to Section 7.01(a) and Section 7.01(c))
shall be


 






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its
successor, until a successor is appointed by the Directing Holder as provided in this Section 7.02 or Section 3.22(b),
as applicable, in all respects in its capacity as the Master Servicer or the Special Servicer under this Agreement and the
transactions set forth or provided for herein and, except as provided herein, shall be subject to all the responsibilities,
duties, limitations on liability and liabilities relating thereto and arising thereafter placed on the Master Servicer or
Special Servicer by the terms and provisions hereof, provided, that (i) the Terminating Party shall have no
responsibilities, duties, liabilities or obligations with respect to any act or omission of the Master Servicer or Special
Servicer and (ii) any failure to perform, or delay in performing, such duties or responsibilities caused by the
Terminated Party’s failure to provide, or delay in providing, records, tapes, disks, information or monies shall not be
considered a termination event for such successor hereunder. The Trustee, as successor Master Servicer or successor Special
Servicer, shall be indemnified to the full extent provided to the Master Servicer or Special Servicer, as applicable, under
this Agreement prior to the Master Servicer’s or the Special Servicer’s termination. The appointment of a
successor Master Servicer or successor Special Servicer shall not affect any liability of the predecessor Master Servicer or
Special Servicer which may have arisen prior to its termination as the Master Servicer or the Special Servicer. The
Terminating Party shall not be liable for any of the representations and warranties of the Master Servicer or
Special Servicer herein or in any related document or agreement, for any acts or omissions of the predecessor Master Servicer
or predecessor Special Servicer or for any losses incurred in respect of any Permitted Investment by the Master Servicer
pursuant to Section 3.07 hereunder nor shall the Trustee be required to purchase any Mortgage Loan or any
Serviced Companion Loan hereunder. As compensation therefor, the Terminating Party as successor Master Servicer or successor
Special Servicer shall be entitled to the Servicing Compensation or Special Servicing Compensation, as applicable, and all
funds relating to the Mortgage Loans or the Serviced Companion Loans that accrue after the date of the Terminating
Party’s succession to which such predecessor Master Servicer or Special Servicer would have been entitled if such
predecessor Master Servicer or Special Servicer, as applicable, had continued to act hereunder. If any Advances made by the
Master Servicer or the Trustee shall at any time be outstanding, or any amounts of interest thereon shall be accrued and
unpaid, all amounts available to repay Advances and interest hereunder shall be applied entirely to the Advances made by the
Trustee (and the accrued and unpaid interest thereon), until such Advances and interest shall have been repaid in full.
Notwithstanding the above, the Trustee may, if it shall be unwilling to so act, or shall if it is unable to so act or if
the Holders of Certificates entitled to (i) in the case of the Master Servicer, at least 25% of the aggregate Voting
Rights (or, for so long as no Control Termination Event has occurred and is continuing, the Controlling
Class Representative), or (ii) in the case of the Special Servicer, at least 25% of the aggregate Voting Rights (or, for
so long as no Control Termination Event has occurred and is continuing, the Directing Holder), so request in writing to the
Trustee, or, with respect to a Serviced Whole Loan, if an affected Serviced Companion Loan Noteholder so requests in writing
to the Trustee, or if the Trustee is not an “approved” servicer by any of the Rating Agencies for mortgage pools
similar to the Trust Fund, promptly appoint, or petition a court of competent jurisdiction to appoint, any established
mortgage loan servicing institution that, for so long as no Control Termination Event has occurred and is continuing, has
been approved by the Directing Holder (which approval shall not be unreasonably withheld in the case of the appointment of a
successor Master Servicer) to act as the successor to the Master Servicer or Special Servicer, as applicable, hereunder in
the assumption of all or any part of the responsibilities, duties or liabilities of the Master Servicer or Special Servicer
hereunder; 


 






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provided that the Trustee shall obtain a Rating
Agency Confirmation with respect to the Certificates and any Serviced Companion Loan Securities. No appointment of a successor
to the Master Servicer or Special Servicer hereunder shall be effective until the assumption by such successor of all the Master
Servicer’s or Special Servicer’s responsibilities, duties and liabilities hereunder, which appointment has been approved,
if no Control Termination Event has occurred and is continuing, by the Directing Holder, such approval not to be unreasonably
withheld. Pending appointment of a successor to the Master Servicer (or the Special Servicer if the Special Servicer is also the
Master Servicer) hereunder, unless the Trustee shall be prohibited by law from so acting, the Trustee shall act in such capacity
as hereinabove provided. Pending the appointment of a successor to the Special Servicer, the Trustee shall act in such capacity.
In connection with such appointment and assumption described herein, the Trustee may make such arrangements for the compensation
of such successor out of payments on Mortgage Loans, Serviced Companion Loans or otherwise as it and such successor shall agree;
provided, that no such compensation shall be in excess of that permitted to the Terminated Party hereunder, unless no successor
to the Terminated Party can be obtained to perform the obligations of such Terminated Party hereunder, in which case additional
amounts shall be paid to such successor and such amounts in excess of that permitted the Terminated Party shall be treated as
Realized Losses. Any successor Special Servicer shall be subject to the rights of the Directing Holder under Section 3.22(b)
of this Agreement. The Depositor, the Trustee, the Master Servicer or Special Servicer and such successor shall take such
action, consistent with this Agreement, as shall be necessary to effectuate any such succession.


 


If the Trustee or an Affiliate acts
pursuant to this Section 7.02 as successor to the resigning or terminated Master Servicer, it may reduce the Master
Servicer’s Excess Servicing Fee Rate to the extent that its or such Affiliate’s compensation as successor Master Servicer
would otherwise be below the market rate servicing compensation. If the Trustee elects to appoint a successor to the resigning
or terminated Master Servicer other than itself or an Affiliate pursuant to this Section 7.02, it may reduce the Master
Servicer’s Excess Servicing Fee Rate to the extent reasonably necessary (in the sole discretion of the Trustee) for the Trustee
to appoint a qualified successor Master Servicer that meets the requirements of this Section 7.02.


 


Section 7.03     Notification
to Certificateholders and Other Persons. (a) Upon its receipt of written notice of any termination pursuant to Section 7.01 above
or appointment of a successor to the Master Servicer or the Special Servicer, the Certificate Administrator shall give prompt
written notice thereof to Certificateholders at their respective addresses appearing in the Certificate Register, the
17g-5 Information Provider (who shall promptly post such notice to the 17g-5 Information Provider’s Website pursuant to Section 3.14(d)
of this Agreement), the Operating Advisor, the Asset Representations Reviewer and to each Serviced Companion Loan
Noteholder at its address appearing in the Serviced Companion Loan Noteholder Register.


 


(b)          Within 30 days after the
occurrence of any Servicer Termination Event, Operating Advisor Termination Event or Asset Representations Reviewer Termination
Event of which a Responsible Officer of the Trustee has actual knowledge, the Trustee shall transmit by mail to the Depositor,
the Certificate Administrator (who shall then notify all Holders of Certificates), the 17g-5 Information Provider (who shall promptly
post such notice to the 17g-5 Information Provider’s Website pursuant to Section 3.14(d) of this Agreement),
and each Serviced Companion Loan Noteholder, notice of such Servicer Termination Event, Operating


 






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Advisor
Termination Event or Asset Representations Reviewer Termination Event, unless such Servicer Termination Event, Operating Advisor
Termination Event or Asset Representations Reviewer Termination Event shall have been cured or waived.


 


Section 7.04     Other
Remedies of Trustee. During the continuance of any Servicer Termination Event, so long as the Servicer Termination Event shall
not have been remedied, the Trustee, in addition to the rights specified in Section 7.01 of this Agreement, shall
have the right, in its own name as Trustee of an express trust, to take all actions now or hereafter existing at law, in equity
or by statute to enforce its rights and remedies and to protect the interests, and enforce the rights and remedies, of the Certificateholders
and, in the case of any Serviced Companion Loan, of the related Serviced Companion Loan Noteholders (including the institution
and prosecution of all judicial, administrative and other proceedings and the filing of proofs of claim and debt in connection
therewith). In such event, the legal fees, expenses and costs of such action and any liability resulting therefrom shall be expenses,
costs and liabilities of the Trust Fund (and, in the case of any Serviced Whole Loan, such amounts shall be allocated in accordance
with the expense allocation provision of the related Intercreditor Agreement). Except as otherwise expressly provided in this
Agreement, no remedy provided for by this Agreement shall be exclusive of any other remedy, and each and every remedy shall be
cumulative and in addition to any other remedy, and no delay or omission to exercise any right or remedy shall impair any such
right or remedy or shall be deemed to be a waiver of any Servicer Termination Event.


 


Section 7.05     Waiver
of Past Servicer Termination Events and Operating Advisor Termination Events; Termination. The Holders of Certificates
evidencing not less than 66-2/3% of the aggregate Voting Rights of the Certificates may, together with each affected Serviced
Companion Loan Noteholder (to the extent they are adversely affected by such Servicer Termination Event or Operating Advisor
Termination Event, as applicable), on behalf of all Holders of Certificates waive any termination event with respect to the
Master Servicer, the Special Servicer or the Operating Advisor in the performance of its obligations hereunder and its
consequences, except a termination event with respect to making any required deposits (including, with respect to the Master
Servicer, P&I Advances) to or payments from the Collection Account, any Serviced Whole Loan Collection Account or the
Lower-Tier Distribution Account, or in remitting payments as received, in each case in accordance with this Agreement. Upon
any such waiver of a past termination event, such termination event shall cease to exist, and any Servicer Termination Event
or Operating Advisor Termination Event arising therefrom shall be deemed to have been remedied for every purpose of this
Agreement. No such waiver shall extend to any subsequent or other termination event or impair any right consequent thereon.
Notwithstanding the foregoing, a Master Servicer Termination Event under Section 7.01(a)(vii) or a Special
Servicer Termination Event under Section 7.01(b)(vii) of this Agreement may be waived only with the consent of
the Depositor.


 


Section 7.06     Trustee
as Maker of Advances. If the Master Servicer fails to fulfill its obligations hereunder to make any Advances and such failure
remains uncured, the Trustee shall perform such obligations (x) within five Business Days of the Master Servicer Termination
Event resulting from such failure by the Master Servicer with respect to Servicing Advances to the extent a Responsible Officer
of the Trustee has actual knowledge of such failure with respect to such Servicing Advances and (y) by 12:00 noon (New
York City time) on the


 






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related
Distribution Date with respect to P&I Advances pursuant to the Trustee’s receipt of notice of failure pursuant to Section 4.07(a)
of this Agreement unless the Trustee has received notice that such failure has been cured by 11:00 a.m. on such
Distribution Date. With respect to any such Advance made by the Trustee, the Trustee shall succeed to all of the Master
Servicer’s rights with respect to Advances hereunder, including, without limitation, the Master Servicer’s rights
of reimbursement and interest on each Advance at the Reimbursement Rate, and rights to determine that a proposed Advance is a
Nonrecoverable Advance (without regard to any impairment of any such rights of reimbursement caused by the Master
Servicer’s failure to perform its obligations hereunder); provided, that if Advances made by the Trustee and the
Master Servicer shall at any time be outstanding, or any interest on any Advance shall be accrued and unpaid, all amounts
available to repay such Advances and the interest thereon hereunder shall be applied entirely to the Advances outstanding to
the Trustee, until such Advances shall have been repaid in full, together with all interest accrued thereon, prior to
reimbursement of the Master Servicer for such Advances. The Trustee shall be entitled to conclusively rely on any notice
given with respect to a Nonrecoverable Advance or any determination of nonrecoverability in connection therewith by the
Master Servicer hereunder.


 


Section 7.07     Termination
of the Operating Advisor. (a)  An “Operating Advisor Termination Event” means any one of the following
events whether any such event shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment,
decree or order of any court or any order, rule or regulation of any administrative or governmental body:


 


(i)           any failure
by the Operating Advisor to observe or perform in any material respect any of its covenants or agreements or the material breach
of its representations or warranties under this Agreement, which failure shall continue unremedied for a period of 30 days
after the date on which written notice of such failure shall have been given to the Operating Advisor by any party hereto or to
the Operating Advisor, the Certificate Administrator and the Trustee by the Holders of Certificates having greater than 25% of
the aggregate Voting Rights; provided, that with respect to any such failure which is not curable within such 30-day period,
the Operating Advisor shall have an additional cure period of thirty (30) days to effect such cure so long as it has commenced
to cure such failure within the initial 30-day period and has provided the Trustee and the Certificate Administrator with an Officer’s
Certificate certifying that it has diligently pursued, and is continuing to pursue, such cure;


 


(ii)          any failure
by the Operating Advisor to perform in accordance with the Operating Advisor Standard which failure shall continue unremedied for
a period of 30 days;


 


(iii)         any failure
by the Operating Advisor to be an Eligible Operating Advisor, which failure shall continue unremedied for a period of 30 days;


 


(iv)        a decree or
order of a court or agency or supervisory authority having jurisdiction in the premises in an involuntary case under any present
or future federal or state bankruptcy, insolvency or similar law for the appointment of a conservator or receiver or liquidator
in any insolvency, readjustment of debt, marshaling of assets and liabilities or similar proceedings, or for the winding-up or
liquidation of its affairs, shall


 






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have
been entered against the Operating Advisor, and such decree or order shall have remained in force undischarged or unstayed for
a period of 60 days;


 


(v)          the Operating
Advisor shall consent to the appointment of a conservator or receiver or liquidator or liquidation committee in any insolvency,
readjustment of debt, marshaling of assets and liabilities, voluntary liquidation, or similar proceedings of or relating to the
Operating Advisor or of or relating to all or substantially all of its property; or


 


(vi)         the Operating
Advisor shall admit in writing its inability to pay its debts generally as they become due, file a petition to take advantage of
any applicable insolvency or reorganization statute, make an assignment for the benefit of its creditors, or voluntarily suspend
payment of its obligations.


 


Upon receipt by the Certificate Administrator
of notice of the occurrence of any Operating Advisor Termination Event, the Certificate Administrator shall promptly provide written
notice to all Certificateholders by posting such notice on the Certificate Administrator’s Website and by mail, unless the
Certificate Administrator has received notice that it has been remedied. If an Operating Advisor Termination Event has occurred
then, and in each and every such case, so long as such Operating Advisor Termination Event shall not have been remedied, either
(i) the Trustee may or (ii) upon the written direction of holders of Certificates evidencing not less than 25% of the
Voting Rights of each Class of Regular Certificates, the Trustee shall, terminate all of the rights and obligations of the Operating
Advisor under this Agreement, other than rights and obligations accrued prior to such termination, including the right to receive
all amounts accrued and owing to it under this Agreement, and other than indemnification rights (arising out of events occurring
prior to such termination), by notice in writing to the Operating Advisor; provided that no such termination shall be effective
until a successor Operating Advisor has been appointed and has assumed all of the obligations of the Operating Advisor under this
Agreement. Notwithstanding anything herein to the contrary, the Depositor shall have the right, but not the obligation, to notify
the Certificate Administrator and the Trustee of any Operating Advisor Termination Event of which the Depositor has actual knowledge.


 


(b)          Upon (i) the written direction
of holders of Certificates evidencing not less than 15% of the aggregate Voting Rights requesting a vote to terminate and replace
the Operating Advisor with a proposed successor Operating Advisor that is an Eligible Operating Advisor and (ii) payment by
such Holders to the Certificate Administrator of the reasonable fees and expenses to be incurred by the Certificate Administrator
in connection with administering such vote, the Certificate Administrator shall promptly provide written notice thereof to the
Operating Advisor and to all Certificateholders by (i) posting such notice on the Certificate Administrator’s Website
and (ii) mail at their addresses appearing in the Certificate Register. Upon the written direction of Holders of Certificates
evidencing more than 50% of the Voting Rights that exercise their right to vote (provided that Holders of at least 50% of
the Voting Rights exercise their right to vote), the Trustee shall terminate all of the rights and obligations of the Operating
Advisor with respect to the Mortgage Loans under this Agreement by notice in writing to the Operating Advisor, other than rights
and obligations accrued prior to such termination including the right to receive all amounts accrued and owing to it under this
Agreement and other than indemnification rights arising out of events occurring prior to such termination. The provisions set forth
in the foregoing sentences of this Section 7.07(b) shall be


 






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binding
upon and inure to the benefit of solely the Certificateholders and the Trustee as between each other. The Operating Advisor shall
not have any cause of action based upon or arising from any breach or alleged breach of such provisions other than may arise,
as a result of the failure to comply with the above described voting procedures. As between the Operating Advisor, on the one
hand, and the Certificateholders, on the other, the Certificateholders shall be entitled in their sole discretion to vote for
the termination or not vote for the termination of the Operating Advisor.


 


(c)          On or after the receipt by the
Operating Advisor of such written notice of termination, subject to the foregoing, all of its authority and power under this Agreement
shall be terminated and, without limitation, the terminated Operating Advisor shall execute any and all documents and other instruments,
and do or accomplish all other acts or things reasonably necessary or appropriate to effect the purposes of such notice of termination.
As soon as practicable, but in no event later than 15 Business Days after (1) the Operating Advisor resigns pursuant to Section 6.04(a)
of this Agreement or (2) the Certificate Administrator delivers such written notice of termination to the Operating Advisor, the
Trustee shall upon the written direction of Holders of Certificates evidencing not less than 25% of the Voting Rights of each Class
of Regular Certificates of each Class of Certificates appoint a successor Operating Advisor that is an Eligible Operating Advisor,
which successor Operating Advisor may be an Affiliate of the Trustee and shall be the proposed Operating Advisor in the case of
a termination pursuant to Section 7.07(b) of this Agreement; provided, that if the Trustee is acting as the successor
Master Servicer or successor Special Servicer, neither the Trustee nor any of its Affiliates shall be the successor Operating Advisor.
The Trustee shall provide written notice of the appointment of a successor Operating Advisor to the Master Servicer, the Special
Servicer and the Certificate Administrator (and the Certificate Administrator shall promptly provide such notice to the Controlling
Class Representative, each Serviced Companion Loan Noteholder and each Certificateholder) within one Business Day of such appointment.
The Operating Advisor shall not at any time be the Depositor, the Master Servicer, the Special Servicer, a Mortgage Loan Seller,
an Other Depositor, an Other Servicer, an Other Special Servicer or an Affiliate of any of them. If any of such entities becomes
the Operating Advisor, including by means of an Affiliation arising after the date hereof, the Operating Advisor shall immediately
resign or cause an assignment under Section 6.04 of this Agreement and the Trustee shall upon the written direction
of Holders of Certificates evidencing not less than 25% of the Voting Rights of each Class of Certificates appoint a successor
Operating Advisor subject to and in accordance with this Section 7.07(c), which successor Operating Advisor may be
an Affiliate of the Trustee.


 


(d)          Upon any termination of the
Operating Advisor and appointment of a successor to the Operating Advisor, the Trustee shall, as soon as possible, give written
notice thereof to the Special Servicer, the Master Servicer, the Certificate Administrator, the Depositor, the Certificateholders,
any Serviced Companion Loan Noteholder and, if no Consultation Termination Event has occurred, the Controlling Class Representative
and the 17g-5 Information Provider (who shall promptly post such notice to the 17g-5 Information Provider’s Website pursuant
to Section 3.14(d) of this Agreement). If the Operating Advisor is terminated, all of its rights and obligations under
this Agreement shall terminate, other than any rights or obligations that accrued prior to the date of such termination (including
the right to receive all amounts accrued and owing to it under this Agreement) and other than indemnification rights (arising out
of events occurring prior to such termination).


 






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(e)          If there are no Classes of Certificates
outstanding other than the Control Eligible Certificates and the Class R Certificates, then all of the rights and obligations of
the Operating Advisor under this Agreement shall terminate without payment of any termination fee (other than any rights or obligations
that accrued prior to the date of such termination (including accrued and unpaid compensation) and other than indemnification rights
arising out of events occurring prior to such termination). If the Operating Advisor is terminated pursuant to this Section 7.07(e),
then no replacement Operating Advisor shall be appointed. The Trustee shall provide the Operating Advisor with prompt notice upon
its termination pursuant to this Section 7.07(e).


 


Article VIII



CONCERNING THE TRUSTEE AND CERTIFICATE ADMINISTRATOR


 


Section 8.01     Duties
of Trustee and Certificate Administrator. (a)  Each of the Trustee and the Certificate Administrator undertakes
to perform such duties and only such duties as are specifically set forth in this Agreement and no permissive right of the Trustee
shall be construed as a duty. During the continuance of a Servicer Termination Event of which a Responsible Officer of the Trustee
has actual knowledge, the Trustee, subject to the provisions of Section 7.02 and 7.05 of this Agreement shall
exercise such of the rights and powers vested in it by this Agreement, and use the same degree of care and skill in their exercise,
as a prudent person would exercise or use under the circumstances in the conduct of such person’s own affairs.


 


(b)          The Trustee and the Certificate
Administrator, upon receipt of any resolutions, certificates, statements, opinions, reports, documents, orders or other instruments
furnished to the Trustee or the Certificate Administrator, as the case may be, which are specifically required to be furnished
to the Trustee or the Certificate Administrator pursuant to any provision of this Agreement (other than the Mortgage Files, the
review of which is specifically governed in Article II, any CREFC® reports, and any information delivered for posting
to the Certificate Administrator’s Website), shall examine them to determine whether they conform on their face to the requirements
of this Agreement; provided, that, the Trustee or the Certificate Administrator, as applicable, shall not be responsible
for the accuracy or content of any such resolution, certificate, statement, opinion, report, document, order or other instrument
provided to it hereunder. If any such instrument is found not to conform on its face to the requirements of this Agreement in a
material manner, the Trustee or the Certificate Administrator, as applicable, shall request the provider of such instrument to
have the instrument corrected, and if the instrument is not corrected to such Trustee’s or such Certificate Administrator’s
reasonable satisfaction, such Trustee or such Certificate Administrator will provide notice thereof to the Certificateholders.


 


(c)          None of the Trustee, the Certificate
Administrator or any of their officers, directors, employees, agents or “control” persons within the meaning of the
Act shall have any liability arising out of or in connection with this Agreement, provided that, subject to Section 8.02
of this Agreement, no provision of this Agreement shall be construed to relieve the Trustee, the Certificate Administrator or any
such person, from liability for its own negligent


 






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action,
its own negligent failure to act or its own willful misconduct or its own bad faith; and provided, further, that:


 


(i)           The Trustee’s
and the Certificate Administrator’s duties and obligations shall be determined solely by the express provisions of this Agreement,
neither the Trustee nor the Certificate Administrator shall be liable except for the performance of such duties and obligations
as are specifically set forth in regard to such party in this Agreement, no implied covenants or obligations shall be read into
this Agreement against the Trustee or the Certificate Administrator and, in the absence of bad faith on the part of the Trustee
or the Certificate Administrator, as the case may be, the Trustee and the Certificate Administrator may conclusively rely, as to
the truth of the statements and the correctness of the opinions expressed therein, upon any resolutions, certificates, statements,
reports, opinions, documents, orders or other instruments furnished to the Trustee or the Certificate Administrator, as the case
may be, that conform on their face to the requirements of this Agreement to the extent set forth herein without responsibility
for investigating the contents thereof;


 


(ii)          Reserved;


 


(iii)         Neither the
Trustee nor the Certificate Administrator shall be personally liable with respect to any action taken, suffered or omitted to be
taken by it in good faith in accordance with the direction of Holders of Certificates entitled to greater than 25% of the Percentage
Interests (or such other higher or lower percentage as is specified herein) of each affected Class, or of the aggregate Voting
Rights of the Certificates, relating to the time, method and place of conducting any proceeding for any remedy available to the
Trustee or the Certificate Administrator, as the case may be, or exercising any trust or power conferred upon the Trustee or the
Certificate Administrator, as the case may be, under this Agreement;


 


(iv)         Neither the
Trustee nor the Certificate Administrator nor any of their directors, officers, employees, agents or control persons shall be responsible
for any act or omission of any Custodian, Paying Agent or Certificate Registrar that is not an Affiliate of the Trustee or Certificate
Administrator, respectively, and that is selected other than by the Trustee or Certificate Administrator, respectively, performed
or omitted in compliance with any custodial or other agreement, or any act or omission of the Master Servicer, the Special Servicer,
the Depositor, the Operating Advisor, the Asset Representations Reviewer or any other Person, including, without limitation, in
connection with actions taken pursuant to this Agreement;


 


(v)          Neither the
Trustee nor the Certificate Administrator shall be under any obligation to appear in, prosecute or defend any legal action which
is not incidental to its respective duties as Trustee or Certificate Administrator in accordance with this Agreement (and, if it
does, all legal expenses and costs of such action shall be expenses and costs of the Trust Fund (and, in the case of any Whole
Loan, any such costs and expenses shall be allocated in accordance with the allocation provisions of the related Intercreditor
Agreement), and the Trustee or the Certificate Administrator, as applicable, shall be entitled, as provided in Section 3.06
hereof, to be reimbursed therefor from amounts on deposit in the Collection Account (and with respect to any Serviced Whole 


 






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Loan,
the related Serviced Whole Loan
Collection Account) or the Distribution Account and identified on the Trust Ledger, unless such legal action arises out of the
negligence or bad faith of the Trustee or Certificate Administrator, as applicable, or any breach of a representation or warranty
of the Trustee or Certificate Administrator, as applicable, contained herein; and


 


(vi)          Neither the
Trustee nor the Certificate Administrator shall be charged with knowledge of any act, failure to act or breach of any Person upon
the occurrence of which the Trustee or Certificate Administrator, as applicable, may be required to act, unless a Responsible Officer
of the Trustee or Certificate Administrator, as applicable, obtains actual knowledge of such act, failure or breach. Neither the
Trustee nor the Certificate Administrator shall be deemed to have actual knowledge of the Master Servicer’s or the Special
Servicer’s failure to provide scheduled reports, certificates and statements when and as required to be delivered to the
Trustee or Certificate Administrator, as applicable, pursuant to this Agreement.


 


None of the provisions contained in
this Agreement shall require either the Trustee, in its capacity as Trustee or the Certificate Administrator, in its capacity as
Certificate Administrator, to expend or risk its own funds, or otherwise incur financial liability in the performance of any of
its duties hereunder, or in the exercise of any of its rights or powers, if in the opinion of the Trustee or the Certificate Administrator,
as the case may be, the repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured
to it, and none of the provisions contained in this Agreement shall in any event require the Trustee or the Certificate Administrator,
as the case may be, to perform, or be responsible for the manner of performance of, any of the obligations of the Master Servicer,
the Special Servicer, the Operating Advisor or the Asset Representations Reviewer under this Agreement, except, in the case of
the Trustee, during such time, if any, as the Trustee shall be the successor to, and be vested with the rights, duties, powers
and privileges of, the Master Servicer or the Special Servicer in accordance with the terms of this Agreement. Neither the Trustee
nor the Certificate Administrator shall be required to post any surety or bond of any kind in connection with its performance of
its obligations under this Agreement and neither the Trustee nor the Certificate Administrator shall be liable for any loss on
any investment of funds pursuant to this Agreement. Notwithstanding any other provision hereof, when acting as the Master Servicer
hereunder, the Trustee shall comply with the Servicing Standard.


 


Section 8.02     Certain
Matters Affecting the Trustee and the Certificate Administrator. (a) Except as otherwise provided in Section 8.01
of this Agreement:


 


(i)          The Trustee
and the Certificate Administrator may request and/or conclusively rely upon and shall be protected in acting or refraining from
acting upon any resolution, Officer’s Certificate, certificate of auditors or any other certificate, statement, instrument,
opinion, report, notice, request, consent, order, appraisal, bond or other paper or document reasonably believed by it to be genuine
and to have been signed or presented by the proper party or parties and neither the Trustee nor the Certificate Administrator shall
have any responsibility to ascertain or confirm the genuineness of any such party or parties;


 






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(ii)         Each of the
Trustee and the Certificate Administrator may consult with counsel and the written advice of such counsel or any Opinion of Counsel
shall be full and complete authorization and protection in respect of any action taken or suffered or omitted by it hereunder in
good faith and in accordance with the written advice of such counsel or such Opinion of Counsel;


 


(iii)        (A) Neither
the Trustee nor the Certificate Administrator shall be under any obligation to exercise any of the trusts or powers vested in it
by this Agreement or to make any investigation of matters arising hereunder or institute, conduct or defend any litigation hereunder
or in relation hereto at the request, order or direction of any of the Certificateholders, pursuant to the provisions of this Agreement,
unless such Certificateholders shall have offered to the Trustee or the Certificate Administrator, as the case may be, security
or indemnity reasonably satisfactory to the Trustee or the Certificate Administrator, as the case may be, against the costs, expenses
and liabilities which may be incurred therein or thereby, provided that nothing contained herein shall relieve the Trustee
of the obligations, upon the occurrence of a Servicer Termination Event (which has not been cured or waived) of which a Responsible
Officer of the Trustee has actual knowledge, to exercise such of the rights and powers vested in it by this Agreement, and to use
the same degree of care and skill in their exercise, as a prudent person would exercise or use under the circumstances in the conduct
of such person’s own affairs; and (B) the right of the Trustee and the Certificate Administrator to perform any discretionary
act enumerated in this Agreement shall not be construed as a duty, and the Trustee or the Certificate Administrator, as the case
may be, shall not be answerable for other than its own negligence or willful misconduct or bad faith in the performance of any
such act;


 


(iv)        None of the
Trustee, the Certificate Administrator or any of their directors, officers, employees, Affiliates, agents or “control”
persons within the meaning of the Act shall be personally liable (A) for an error of judgment made in good faith by a Responsible
Officer of the Trustee or the Certificate Administrator, as the case may be, unless it shall be proved that the Trustee or the
Certificate Administrator, as the case may be, was negligent in ascertaining the pertinent facts or (B) for any action taken,
suffered or omitted by it in good faith and reasonably believed by the Trustee or the Certificate Administrator, as the case may
be, to be authorized or within the discretion or rights or powers conferred upon it by this Agreement;


 


(v)         Neither the
Trustee nor the Certificate Administrator shall be bound to make any investigation into the facts or matters stated in any resolution,
certificate, statement, instrument, opinion, report, notice, request, consent, order, appraisal, bond or other paper or document,
unless requested in writing to do so by Holders of Certificates entitled to greater than 25% (or such other percentage as is specified
herein) of the Percentage Interests of each affected Class; provided, that if the payment within a reasonable time to the
Trustee or the Certificate Administrator, as the case may be, of the costs, expenses or liabilities likely to be incurred by it
in the making of such investigation is, in the opinion of the Trustee or the Certificate Administrator, as the case may be, not
reasonably assured to the Trustee or the Certificate Administrator, as the case may be, by the security afforded to it by the terms
of this Agreement, the Trustee or the Certificate Administrator, as the case may be, may require indemnity reasonably satisfactory
to it


 



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from such requesting Holders against such cost, expense or liability as a condition to taking any such action. The reasonable
expense of every such investigation shall be paid by the Master Servicer, the Special Servicer or the Operating Advisor, as applicable,
if a Servicer Termination Event or Operating Advisor Termination Event shall have occurred and be continuing relating to the Master
Servicer, the Special Servicer or the Operating Advisor, respectively, and otherwise by the Certificateholders requesting the investigation;


 


(vi)        The Trustee
and the Certificate Administrator may execute any of the trusts or powers hereunder and the Trustee and the Certificate Administrator
may perform any duties hereunder either directly or by or through agents, nominees, custodians or attorneys but shall not be relieved
of the obligations hereunder; provided, that the Trustee or the Certificate Administrator, as the case may be, may not perform
any duties hereunder through any Person that is a Prohibited Party;


 


(vii)      Other than in the case of actual fraud (as determined by a non-appealable final court order), in no event shall
the Trustee or the Certificate Administrator, as applicable, be liable for special, punitive, indirect or consequential loss
or damage of any kind whatsoever (including, but not limited to lost profits), even if the Trustee or the Certificate
Administrator, as applicable, has been advised of the likelihood of such loss or damage and regardless of the form of
action;


 


(viii)      In no event
shall the Trustee or the Certificate Administrator be liable for any failure or delay in the performance of its obligations hereunder
due to force majeure or acts of God; provided, that such failure or delay is not also a result of its own negligence,
bad faith or willful misconduct;


 


(ix)        Except as otherwise
expressly set forth in this Agreement, Wells Fargo Bank, National Association acting in any particular capacity hereunder will
not be deemed to be imputed with knowledge of (a) Wells Fargo Bank, National Association, acting in a capacity that is unrelated
to the transactions contemplated by this Agreement, or (b) Wells Fargo Bank, National Association, acting in any other capacity
hereunder, except, in the case of either clause (a) or clause (b), where some or all of the obligations performed
in such capacities are performed by one or more employees within the same group or division of Wells Fargo Bank, National Association,
or where the groups or divisions responsible for performing the obligations in such capacities have one or more of the same Responsible
Officers, provided in any event, however, the knowledge of employees performing special servicing functions shall not be
imputed to employees performing master servicing functions, and the knowledge of employees performing master servicing functions
shall not be imputed to employees performing special servicing functions; and


 


(x)          Nothing herein shall require the Trustee or the Certificate Administrator to act in any manner that
is contrary to applicable law.


 


(xi)         Nothing herein
shall be construed as an obligation of the parties to this Agreement to advise the Certificateholders with respect to their rights
and protections relative to the Trust.


 



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(b)          Following the Startup Day, the
Trustee and the Certificate Administrator shall not, except as expressly required by any provision of this Agreement, accept any
contribution of assets to the Trust Fund unless the Trustee or the Certificate Administrator shall have received an Opinion of
Counsel (the costs of obtaining such opinion to be borne by the Person requesting such contribution) to the effect that the inclusion
of such assets in the Trust Fund will not cause an Adverse REMIC Event.


 


(c)          All rights of action under this
Agreement or under any of the Certificates, enforceable by the Trustee and the Certificate Administrator, may be enforced by it
without the possession of any of the Certificates, or the production thereof at the trial or other proceeding relating thereto,
and any such suit, action or proceeding instituted by the Trustee and the Certificate Administrator shall be brought in its name
for the benefit of all the Holders of such Certificates, subject to the provisions of this Agreement.


 


(d)          Neither the Trustee nor the
Certificate Administrator shall have a duty to conduct any affirmative investigation as to the occurrence of any condition requiring
the repurchase of any Mortgage Loan by any Mortgage Loan Seller pursuant to this Agreement or the eligibility of any Mortgage Loan
for purposes of this Agreement.


 


(e)          Each of the Trustee and the
Certificate Administrator shall be entitled to all of the same rights, protections, immunities and indemnities afforded to it as
Trustee and Certificate Administrator, as the case may be, in each capacity for which it serves hereunder (including, without limitation,
as Custodian, Certificate Registrar, 17g-5 Information Provider, Paying Agent and Authenticating Agent).


 


(f)          In order to comply with laws,
rules, regulations and executive orders in effect from time to time applicable to banking institutions, including those relating
to the funding of terrorist activities and money laundering (“Applicable Law”), the Certificate Administrator
and the Trustee, as the case may be, are required to obtain, verify and record certain information relating to individuals and
entities that maintain a business relationship with the Certificate Administrator or the Trustee. Accordingly, each of the parties
hereto agrees to provide to the Certificate Administrator and the Trustee, upon its respective request from time to time, such
identifying information and documentation as may be available for such party in order to enable the Certificate Administrator and
the Trustee to comply with Applicable Law.


 


Section 8.03     Trustee
and Certificate Administrator Not Liable for Certificates or Mortgage Loans. The recitals contained herein and in the
Certificates shall not be taken as the statements of the Trustee, the Certificate Administrator, the Operating Advisor, the
Asset Representations Reviewer, the Master Servicer, or the Special Servicer and the Trustee, the Certificate Administrator,
the Operating Advisor, the Asset Representations Reviewer, the Master Servicer and the Special Servicer assume no
responsibility for their correctness. The Trustee, the Certificate Administrator, the Operating Advisor, the Asset
Representations Reviewer, the Master Servicer and the Special Servicer make no representations or warranties as to the
validity or sufficiency of this Agreement, of the Certificates or any offering document used to offer the Certificates for
sale or the validity, enforceability or sufficiency of any Mortgage Loan, or related document. Neither the Trustee nor the
Certificate Administrator shall at any time have any responsibility or liability for or with respect to the legality,
validity and enforceability of any Mortgage, any Mortgage Loan, or the perfection and priority of any


 



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Mortgage or the maintenance of any such perfection and priority, or for or with respect to the sufficiency
of the Trust Fund or its ability to generate the payments to be distributed to Certificateholders under this Agreement. Without
limiting the foregoing, neither the Trustee nor the Certificate Administrator shall be liable or responsible for: (i) the
existence, condition and ownership of any Mortgaged Property; (ii) the existence of any hazard or other insurance thereon
(other than if the Trustee shall assume the duties of the Master Servicer or the Special Servicer pursuant to Section 7.02
of this Agreement) or the enforceability thereof; (iii) the existence of any Mortgage Loan or the contents of the related
Mortgage File on any computer or other record thereof (other than if the Trustee shall assume the duties of the Master Servicer
or the Special Servicer pursuant to Section 7.02 of this Agreement); (iv) the validity of the assignment of any
Mortgage Loan to the Trust Fund or of any intervening assignment; (v) the completeness of any Mortgage File; the performance
or enforcement of any Mortgage Loan (other than if the Trustee shall assume the duties of the Master Servicer or the Special Servicer
pursuant to Section 7.02 of this Agreement); (vi) the compliance by the Depositor, the Master Servicer, the Special
Servicer, the Operating Advisor or the Asset Representations Reviewer with any warranty or representation made under this Agreement
or in any related document or the accuracy of any such warranty or representation prior to the Trustee’s receipt of written
notice or other discovery of any non-compliance therewith or any breach thereof; (vii) any investment of monies by or at the
direction of the Master Servicer or any loss resulting therefrom, the acts or omissions of any of the Depositor, the Certificate
Administrator, the Operating Advisor, the Asset Representations Reviewer, the Master Servicer or the Special Servicer (other than
if the Trustee shall assume the duties of the Certificate Administrator, the Master Servicer or Special Servicer pursuant to Section 7.02
of this Agreement) or any sub-servicer or any Borrower; any action of the Master Servicer or Special Servicer (other than if the
Trustee shall assume the duties of the Master Servicer or Special Servicer pursuant to Section 7.02 of this Agreement)
or any sub-servicer taken in the name of the Trustee, except to the extent such action is taken at the express written direction
of the Trustee; (viii) the failure of the Master Servicer or the Special Servicer or any sub-servicer to act or perform any
duties required of them on behalf of the Trust Fund or the Trustee hereunder; or (ix) any action by or omission of the Trustee
or the Certificate Administrator taken at the instruction of the Master Servicer or the Special Servicer (other than if the Trustee
shall assume the duties of the Master Servicer or the Special Servicer pursuant to Section 7.02 of this Agreement)
unless the taking of such action is not permitted by the express terms of this Agreement; provided, that the foregoing shall
not relieve the Trustee or the Certificate Administrator of their respective obligations to perform their duties as specifically
set forth in this Agreement. The Trustee or the Certificate Administrator shall not be accountable for the use or application by
the Depositor, the Certificate Administrator (in the case of the Trustee only), the Trustee (in the case of the Certificate Administrator
only), the Master Servicer or the Special Servicer of any of the Certificates or of the proceeds of such Certificates, or for the
use or application of any funds paid to the Depositor, the Certificate Administrator (in the case of the Trustee only), the Trustee
(in the case of the Certificate Administrator only), the Master Servicer or the Special Servicer in respect of the assignment of
the Mortgage Loans or deposited in or withdrawn from the Collection Accounts, any Serviced Whole Loan Collection Account, the Lower-Tier
Distribution Account, the Upper-Tier Distribution Account, the Lock-Box Account, the Cash Collateral Account, the Reserve Accounts,
the Interest Reserve Account, any REO Account or any Gain-on-Sale Reserve Account or any other account maintained by or on behalf
of the Certificate Administrator, the Master Servicer or the Special Servicer, other than any funds held by the Trustee or the
Certificate Administrator. Neither the Trustee nor the


 



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Certificate Administrator shall have any responsibility for filing any financing
or continuation statement in any public office at any time or to otherwise perfect or maintain the perfection of any security interest
or lien granted to it hereunder (unless the Trustee shall have become the successor Master Servicer) or to record this Agreement.
In making any calculation hereunder which includes as a component thereof the payment or distribution of interest for a stated
period at a stated rate “to the extent permitted by applicable law,” the Trustee or the Certificate Administrator,
as the case may be, shall assume that such payment is so permitted unless a Responsible Officer of the Trustee or the Certificate
Administrator, as the case may be, has actual knowledge, or receives an Opinion of Counsel (at the expense of the Person asserting
the impermissibility) to the effect, that such payment is not permitted by applicable law. The Depositor is not obligated
to monitor or supervise the performance of the Trustee or the Certificate Administrator under this Agreement or otherwise.


 


Section 8.04     Trustee
and Certificate Administrator May Own Certificates. The Trustee, the Certificate Administrator and any agent of the Trustee
or the Certificate Administrator in its individual capacity or any other capacity may become the owner or pledgee of Certificates,
and may deal with the Depositor, the Certificate Administrator, the Trustee, the Master Servicer, the Special Servicer, the Initial
Purchasers and the Underwriters in banking transactions, with the same rights it would have if it were not Trustee, Certificate
Administrator or such agent, as the case may be.


 


Section 8.05     Payment
of Trustee’s and Certificate Administrator’s Fees and Expenses; Indemnification. (a) On each Distribution Date,
prior to the distribution of amounts to the Certificateholders, the Certificate Administrator shall be entitled to withdraw and
pay the Trustee and itself its respective portion of the Certificate Administrator/Trustee Fee, as reasonable compensation from
amounts remitted to the Lower-Tier Distribution Account (which shall not be limited by any provision of law in regard to the compensation
of a trustee of an express trust), for all services rendered in the execution of the trusts hereby created and in the exercise
and performance of any of the powers and duties of the Trustee and the Certificate Administrator at the Certificate Administrator/Trustee
Fee Rate. The Trustee’s fee shall be paid as a portion of the Certificate Administrator/Trustee Fee and shall equal $210
per month.


 


(b)          If the Trustee assumes the servicing
responsibilities of the Master Servicer or the Special Servicer hereunder pursuant to or otherwise arising from the resignation
or removal of the Master Servicer or the Special Servicer, the Trustee shall be entitled to the compensation to which the Master
Servicer or the Special Servicer, as the case may be, would have been entitled (other than the rights of the Special Servicer to
receive any Workout Fee specified in Section 3.12(c) of this Agreement if the Special Servicer is terminated).


 


(c)          The Trustee, the Custodian and
the Certificate Administrator shall be paid or reimbursed by the Trust Fund upon its request for all reasonable expenses, disbursements
and advances incurred or made by the Trustee, the Custodian or the Certificate Administrator pursuant to and in accordance with
any of the provisions of this Agreement (including the reasonable compensation and the expenses and disbursements of its counsel
and of all persons not regularly in its employ), which the Certificate Administrator will be entitled to withdraw from the Distribution
Accounts prior to the distribution to Certificateholders to the extent set forth herein and to the extent such payments are “unanticipated
expenses incurred by the REMIC” within the meaning of Treasury Regulations Section 1.860G-1(b)(iii) except any
such


 



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expense, disbursement or advance as may arise from its negligence, willful misconduct or bad faith; provided, that,
subject to the last paragraph of Section 8.01 and Section 8.02(a)(iii) of this Agreement, the Trustee,
the Custodian or the Certificate Administrator shall not refuse to perform any of their respective duties hereunder solely as a
result of the failure to be paid their respective portion of the Certificate Administrator/Trustee Fee, or the Trustee’s,
Custodian’s or Certificate Administrator’s previously-incurred expenses, as applicable. The term “unanticipated
expenses incurred by the REMIC” shall include any fees, expenses and disbursement of any separate Trustee or co-Trustee appointed
hereunder, only to the extent such fees, expenses and disbursements were not reasonably anticipated as of the Closing Date and
are attributable to the Lower-Tier REMIC or the Upper-Tier REMIC and the losses, liabilities, damages, claims or expenses (including
reasonable attorneys’ fees) incurred or advanced by an Indemnified Party in connection with any litigation arising out of
this Agreement attributable to the Lower-Tier REMIC or the Upper-Tier REMIC, including, without limitation, under Section 2.03,
Section 3.10, the third paragraph of Section 3.11, Section 4.05 and Section 7.01
of this Agreement.


 


The Master Servicer and the Special
Servicer covenant and agree to pay or reimburse the Trustee for the reasonable expenses, disbursements and advances incurred or
made by the Trustee in connection with any transfer of the servicing responsibilities of the Master Servicer or the Special Servicer,
respectively, hereunder, pursuant to or otherwise arising from the resignation or removal of the Master Servicer or Special Servicer
(except in the case of removal of the Special Servicer without cause), as applicable, in accordance with any of the provisions
of this Agreement (and including the reasonable fees and expenses and disbursements of its counsel and all other persons not regularly
in its employ), except any such expense, disbursement or advance as may arise from the negligence, willful misconduct or bad faith
of the Trustee.


 


(d)          Each of the Certificate Administrator,
the Custodian, the Paying Agent, the Trustee, the Depositor, the Master Servicer and the Special Servicer (each, for purposes of
this Section 8.05(d), an “Indemnifying Party”) shall (severally and not jointly) indemnify the Trustee
(both in its capacity as Trustee and individually), the Asset Representations Reviewer and the Certificate Administrator (in its
capacity as Certificate Administrator, Custodian, Paying Agent and individually) and each of their Affiliates and each of the partners,
shareholders, members, managers, directors, officers, employees, representatives and agents of the Trustee and the Certificate
Administrator and each of their Affiliates (each, for purposes of this Section 8.05(d), an “Indemnified Party”),
and hold each of them harmless against any and all claims, losses, damages, penalties, fines, forfeitures, reasonable legal fees
and related costs, judgments, and any other costs, fees and expenses that the Indemnified Party may sustain in connection with
this Agreement (including, without limitation, reasonable fees and disbursements of counsel incurred by the Indemnified Party in
any action or proceeding between the Indemnifying Party and the Indemnified Party or between the Indemnified Party and any third
party or otherwise) resulting from each such Indemnifying Party’s respective willful misconduct, bad faith, fraud or negligence
in the performance of each of its respective duties hereunder or by reason of negligent disregard of its respective obligations
and duties hereunder (including in the case of the Master Servicer, any agent of the Master Servicer or sub-servicer).


 



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The Trust Fund shall indemnify each
Indemnified Party and the Custodian from, and hold it harmless against, any and all losses, liabilities, damages, penalties, fines,
forfeitures, judgments, claims or unanticipated expenses (including, without limitation, reasonable fees and disbursements of counsel
incurred by the Indemnified Party in any action or proceeding between the Indemnifying Party and the Indemnified Party or between
the Indemnified Party and any third party or otherwise) arising in respect of this Agreement, the Mortgage Loans or the Certificates
other than (i) resulting from the willful misconduct, bad faith, fraud or negligence of the Indemnified Party or the Custodian,
as applicable, in the performance of its obligations and duties under this Agreement, (ii) by reason of its negligent disregard
of those obligations or duties, or as may arise from a breach of any representation or warranty of the Indemnified Party or the
Custodian, as applicable, made in this Agreement and (iii) as to which such Indemnified Party or the Custodian, as applicable,
is entitled to indemnification pursuant to this Section 8.05(d). The right of reimbursement of the Indemnified Parties
under this Section 8.05(d) shall be senior to the rights of all Certificateholders.


 


(e)          Notwithstanding anything herein
to the contrary, this Section 8.05 shall survive the termination or maturity of this Agreement or the resignation,
removal or termination of the Trustee or the Certificate Administrator, as the case may be, regarding rights accrued prior to such
resignation, removal or termination and (with respect to any acts or omissions during its respective tenures) the resignation,
removal or termination of the Master Servicer, the Special Servicer, the Paying Agent, the Certificate Administrator, the Certificate
Registrar or the Custodian.


 


(f)          This Section 8.05
shall be expressly construed to include, but not be limited to, such indemnities, compensation, expenses, disbursements, advances,
losses, liabilities, damages and the like, as may pertain or relate to any environmental law or environmental matter.


 


(g)          Each of the Certificate Administrator,
the Custodian, the Paying Agent and the Trustee (in each case with respect to itself only, for purposes of this Section 8.05(g),
an “Indemnifying Party”) shall (severally and not jointly) indemnify the Trust Fund, the Depositor, the
Master Servicer, the Special Servicer and each other, and each of their respective Affiliates and each of the partners, shareholders,
members, managers, directors, officers, employees, representatives and agents of the Master Servicer and the Special Servicer and
their respective Affiliates (each, for purposes of this Section 8.05(g), an “Indemnified Party”),
and hold each of them harmless against any and all claims, losses, damages, penalties, fines, forfeitures, reasonable legal fees
and related costs, judgments, and any other costs, fees and expenses that the Indemnified Party may sustain in connection with
this Agreement (including, without limitation reasonable fees and disbursements of counsel incurred by the Indemnified Party in
any action or proceeding between the Indemnifying Party and the Indemnified Party or between the Indemnified Party and any third
party or otherwise) resulting from the applicable Indemnifying Party’s willful misconduct, bad faith, fraud or negligence
in the performance of its duties hereunder or by reason of negligent disregard of its obligations and duties hereunder.


 


(h)          The Certificate Administrator
(for purposes of this Section 8.05(h), the “Indemnifying Party”) shall, solely in its capacity as
the 17g-5 Information Provider, indemnify each Mortgage Loan Seller and Deutsche Bank Securities Inc. (each, for purposes of this
Section 8.05(h), an “Indemnified Party”), and hold each of them harmless against any and all


 



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claims,
losses, damages, penalties, fines, forfeitures, reasonable legal fees and related costs, judgments, and any other costs, fees and
expenses that the Indemnified Party may sustain in connection with this Agreement (including, without limitation reasonable fees
and disbursements of counsel incurred by the Indemnified Party in any action or proceeding between the Indemnifying Party and the
Indemnified Party or between the Indemnified Party and any third party or otherwise) related to (i) the applicable Indemnifying
Party’s willful misconduct, bad faith, fraud or negligence in the performance of its duties hereunder or by reason of negligent
disregard of its obligations and duties hereunder or (ii) a determination by any Rating Agency that it cannot reasonably rely
on representations made by the Depositor or any Affiliate thereof pursuant to Exchange Act Rule 17g-5(a)(3), to the extent
caused by any such willful misconduct, bad faith, fraud or negligence in the performance of its duties hereunder or by reason of
negligent disregard referred to in clause (i) above by the Indemnifying Party.


 


Section 8.06     Eligibility
Requirements for Trustee and Certificate Administrator. The Trustee and Certificate Administrator hereunder shall at all times:


 


(i)          be a corporation,
national bank, national banking association or a trust company organized and doing business under the laws of any state or the
United States of America,


 


(ii)          be authorized
under such laws to exercise corporate trust powers and to accept the trust conferred under this Agreement,


 


(iii)         have a combined
capital and surplus of at least $50,000,000,


 


(iv)        be subject
to supervision or examination by federal or state authority and, solely in the case of the Trustee, shall not be an Affiliate of
the Master Servicer or the Special Servicer (except, in the case of the Trustee, during any period when the Trustee has assumed
the duties of the Master Servicer or Special Servicer, as the case may be, pursuant to Section 7.02 of this Agreement),


 


(v)         not be a Prohibited
Party,


 


(vi)        be an institution
insured by the Federal Deposit Insurance Corporation, and


 


(vii)       have a rating
on its long-term senior unsecured debt of at least “A2” by Moody’s, “A” by Fitch and “A”
by DBRS; provided that the trustee will not become ineligible to serve based on a failure to satisfy such rating requirements as
long as (a) it has a rating on its long-term unsecured debt of at least “Baa2” by Moody’s, “A-” by
Fitch and “A(low)” by DBRS, (b) it has a rating on its short-term debt obligations of at least “P-2” by
Moody’s, “F1” by Fitch and “R-1(low)” by DBRS, and (c) the master servicer has a rating on its long-term
senior unsecured debt of at least “A2” by Moody’s, “A+” by Fitch and “A” by DBRS; provided,
further, that if any such institution is not rated by DBRS, such institution maintains an equivalent (or higher) rating
by any two other NRSROs or such other rating with respect to which the Rating Agencies have provided a Rating Agency Confirmation.


 



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Notwithstanding the foregoing, if the
Trustee or the Certificate Administrator meets the provisions of clauses (i) through (iii), (v) and (vi) above, but does not
meet the provisions of clause (iv) above, the Trustee or the Certificate Administrator, as the case may be, shall be deemed
to meet the provisions of such clause (iv) if it appoints a fiscal agent as a back-up liquidity provider, provided
that such fiscal agent meets the provisions of clauses (i) through (vi) above and shall have assumed in writing all obligations
of the Trustee or the Certificate Administrator, as the case may be, to make Advances under this Agreement as and when required
of the Trustee or the Certificate Administrator, as the case may be. If a corporation or association publishes reports of condition
at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for purposes
of this Section the combined capital and surplus of such corporation shall be deemed to be its combined capital and surplus
as set forth in its most recent report of condition so published. If the place of business from which the Trustee administers the
Trust Fund is a state or local jurisdiction that imposes a tax on the Trust Fund or the net income of any Trust REMIC (other than
a tax corresponding to a tax imposed under the REMIC Provisions) the Trustee shall elect either to (i) resign immediately
in the manner and with the effect specified in Section 8.07 of this Agreement, (ii) pay such tax and continue
as Trustee or (iii) administer the Trust Fund from a state and local jurisdiction that does not impose such a tax. If at any
time the Trustee or the Certificate Administrator shall cease to be eligible in accordance with the provisions of this Section,
the Trustee or the Certificate Administrator, as the case may be, shall resign immediately in the manner and with the effect specified
in Section 8.07 of this Agreement.


 


Section 8.07     Resignation
and Removal of Trustee and Certificate Administrator. The Trustee and the Certificate Administrator may at any time
resign and be discharged from the trusts hereby created by giving written notice thereof to the Trustee, the Depositor, the
Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer, the Mortgage Loan Sellers, the Master
Servicer, the Special Servicer, the Directing Holder and the 17g-5 Information Provider (who shall promptly post such notice
to the 17g-5 Information Provider’s Website pursuant to Section 3.14(d) of this Agreement). Upon notice of
resignation from the Trustee, the Depositor shall use its reasonable best efforts to promptly appoint a successor trustee,
the appointment of which is subject to the requirements contained in Section 8.06 of this Agreement and shall be,
if no Control Termination Event has occurred and is continuing, reasonably acceptable to the Directing Holder. Upon notice of
resignation from the Certificate Administrator, the Trustee shall promptly appoint a successor certificate administrator, the
appointment of which is subject to the requirements contained in Section 8.06 of this Agreement. If no successor
trustee or certificate administrator shall have been so appointed and have accepted appointment within 30 days after the
giving of such notice of resignation, the resigning Trustee or Certificate Administrator, as the case may be, may petition
any court of competent jurisdiction for the appointment of a successor. The Trustee or the Certificate Administrator, as
applicable, shall bear all reasonable out of pocket costs and expenses of each other party hereto and each Rating Agency in
connection with its resignation.


 


If at any time the Trustee or the Certificate
Administrator shall cease to be eligible in accordance with the provisions of Section 8.06 of this Agreement and shall
fail to resign after written request therefor by the Depositor or the Master Servicer, or if at any time the Trustee or the Certificate
Administrator shall become incapable of acting, or shall be adjudged bankrupt or insolvent, or a receiver of the Trustee or the
Certificate Administrator, as the case may be (or of


 



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its property), shall be appointed, or any public officer shall take charge
or control of the Trustee or the Certificate Administrator, as the case may be (or of its property or affairs), for the purpose
of rehabilitation, conservation or liquidation, or if the Trustee or Certificate Administrator (if different than the Trustee)
shall fail (other than by reason of the failure of either the Master Servicer or the Special Servicer to timely perform its obligations
hereunder or as a result of other circumstances beyond the Trustee’s or Certificate Administrator’s, as applicable,
reasonable control), to timely publish any report to be delivered, published or otherwise made available by the Certificate Administrator
pursuant to Section 4.02 and such failure shall continue unremedied for a period of five (5) days, or if the Certificate
Administrator fails to make distributions required pursuant to Section 4.01 or Section 9.01, then the Depositor or
the Master Servicer may remove the Trustee or the Certificate Administrator, as the case may be, and the Depositor or the Master
Servicer shall promptly appoint a successor by written instrument, which shall be delivered to the Trustee or the Certificate Administrator,
as the case may be, so removed and to the successor.


 


The Holders of Certificates entitled
to at least 50% of the Voting Rights may, with cause (at any time) or without cause (at any time with 30 days’ prior written
notice), remove the Trustee or the Certificate Administrator and appoint a successor by written instrument or instruments, in eight
originals, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered
to each of the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor, the Asset Representations Reviewer,
the Trustee, the Certificate Administrator and the successor trustee or certificate administrator, as applicable.


 


In addition, if the Trustee or the
Certificate Administrator is terminated without cause, the terminating party shall pay all of the expenses of the Trustee or the
Certificate Administrator, as the case may be, necessary to affect the transfer of its responsibilities to the successor.


 


If the Trustee is terminated or removed
pursuant to this Section 8.07, all of its rights and obligations under this Agreement and in and to the Mortgage Loans
shall be terminated, other than any rights or obligations that accrued prior to the date of such termination or removal (including
the right to receive all fees, expenses, indemnities, and other amounts accrued or owing to it under this Agreement, plus interest
at the Reimbursement Rate on all such amounts until received to the extent such amounts bear interest as provided in this Agreement,
with respect to periods prior to the date of such termination or removal).


 


If the Certificate Administrator is
terminated or removed pursuant to this Section 8.07, (i) all of its rights and obligations under this Agreement
and in and to the Mortgage Loans shall be terminated, other than any rights or obligations that accrued prior to the date of such
termination or removal (including the right to receive all fees, indemnities, expenses and other amounts accrued or owing to it
under this Agreement with respect to periods prior to the date of such termination or removal) and (ii) such resignation,
termination, or removal shall be effective with respect to each of its other capacities hereunder except its capacity as Custodian
(but including, without limitation, its capacities as Certificate Registrar, 17g-5 Information Provider, Paying Agent and Authenticating
Agent).


 



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Upon the resignation, assignment, or
transfer of the Trustee or its business to a successor, or upon the termination of the Trustee, (a) the outgoing Trustee,
at its own expense without right to reimbursement therefor, shall (A) endorse the original executed Mortgage Note for each
Mortgage Loan (to the extent that the original executed Mortgage Note for each Mortgage Loan was endorsed to the outgoing Trustee),
without recourse, representation or warranty, express or implied, to the order of the successor, as trustee for the registered
holders of DBJPM 2016-C1 Mortgage Trust Commercial Mortgage Pass-Through Certificates, Series 2016-C1 or in blank, and (B) in
the case of the other assignable Loan Documents (to the extent such other Loan Documents were assigned to the outgoing Trustee),
assign and record such Loan Documents to such successor, and such successor shall review the documents delivered to it or to the
Custodian with respect to each Mortgage Loan, and certify in writing that, as to each Mortgage Loan then subject to this Agreement,
such endorsement and assignment has been made; (b) if any original executed Mortgage Note for a Mortgage Loan was not endorsed
to the outgoing Trustee, the Custodian shall deliver such Mortgage Note to the successor trustee and the Custodian shall cooperate
with any successor trustee to ensure that such Mortgage Note is endorsed (without recourse, representation or warranty, express
or implied) to the order of the successor trustee, as trustee for the registered holders of DBJPM 2016-C1 Mortgage Trust Commercial
Mortgage Pass-Through Certificates, Series 2016-C1 or in blank. If any assignable Loan Document (other than the Mortgage Note)
was not assigned to the outgoing Trustee or if the Trustee is removed pursuant to Section 8.07 without cause, with
respect to the Loan Documents identified in clause (B) of the preceding sentence, the Custodian shall deliver such Loan
Document to the successor trustee and, if appropriate, such Loan Documents shall be recorded at the expense of the Trust (i) prior
to the occurrence and continuance of a Control Termination Event, with the consent of the Controlling Class Representative, (ii) after
the occurrence and continuance of a Control Termination Event but prior to the occurrence of a Consultation Termination Event,
after consultation with the Controlling Class Representative and the Operating Advisor and (iii) after the occurrence of a
Consultation Termination Event, after consultation with the Operating Advisor and the reasonable cooperation (as determined by
the Depositor) of the Depositor.


 


Section 8.08     Successor
Trustee and Certificate Administrator. (a) Any successor trustee or certificate administrator shall execute,
acknowledge and deliver to the Depositor, the Operating Advisor, the Asset Representations Reviewer, the Master Servicer, the
Certificate Administrator (or in the case of a successor certificate administrator, to the predecessor Certificate
Administrator) and the Trustee, as the case may be, instruments accepting their appointment hereunder, and thereupon the
resignation or removal of the predecessor Trustee or Certificate Administrator, as applicable, shall become effective and
such successor, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties
and obligations of its predecessor hereunder, with the like effect as if originally named as Trustee or Certificate
Administrator, as applicable, herein; provided that such successor shall satisfy the requirements contained in Section 8.06
of this Agreement and the Certificate Administrator shall have filed any required Form 8-K pursuant to Section 10.09.
The predecessor Trustee or Certificate Administrator, as applicable, shall deliver to its successor all Mortgage Files and
related documents and statements held by it hereunder, and the Depositor and the predecessor Trustee or Certificate
Administrator, as applicable, shall execute and deliver such instruments and do such other things as may reasonably be
required for more fully and certainly vesting and confirming in the successor all such rights, powers, duties and
obligations.


 






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No successor trustee or certificate administrator, as the case may be, shall accept appointment as provided in
this Section 8.08 unless at the time of such acceptance such successor shall be eligible under the provisions of Section 8.06
of this Agreement.


 


Upon acceptance of appointment by a
successor trustee as provided in this Section 8.08, the Depositor shall mail notice of the succession of such Trustee
hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor fails to mail
such notice within 10 days after acceptance of appointment by the successor trustee, the successor trustee shall cause such
notice to be mailed at the expense of the Depositor.


 


(b)          Any successor trustee appointed
pursuant to this Agreement shall satisfy the eligibility requirements set forth in Section 8.06 hereof.


 


(c)          Neither the Asset Representations
Reviewer nor any of its Affiliates may be appointed as successor trustee or certificate administrator.


 


Section 8.09     Merger
or Consolidation of Trustee or Certificate Administrator. Any Person into which the Trustee or the Certificate
Administrator may be merged or converted or with which it may be consolidated or any Person resulting from any merger,
conversion or consolidation to which the Trustee or the Certificate Administrator shall be a party, or any Person succeeding
to all or substantially all of the corporate trust business of the Trustee or the Certificate Administrator, shall be the
successor of the Trustee or the Certificate Administrator, as the case may be, hereunder; provided that such Person
shall be eligible under the provisions of Section 8.06 of this Agreement without the execution or filing of any
paper or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding. The
Trustee or the Certificate Administrator, as applicable, shall notify the other parties hereto of any such event, and the
Certificate Administrator shall post notice of such merger or consolidation to the Certificate Administrator’s Website
in accordance with Section 3.14(d) of this Agreement and provide notice of such event to the 17g-5 Information
Provider (who shall promptly post such notice to the 17g-5 Information Provider’s Website pursuant to Section 3.14(d)
of this Agreement).


 


Section 8.10     Appointment
of Co-Trustee or Separate Trustee. Notwithstanding any other provisions hereof, at any time, for the purpose of meeting any
legal requirements of any jurisdiction in which any part of the Trust Fund or property securing the same may at the time be located,
or for enforcement actions, or where a conflict of interest exists, the Depositor and the Trustee acting jointly shall have the
power and shall execute and deliver all instruments to appoint one or more Persons approved by the Trustee to act (at the expense
of the Trust) as co-Trustee or co-Trustees, jointly with the Trustee, or separate Trustee or separate Trustees, of all or any
part of the Trust Fund, and to vest in such Person or Persons, in such capacity, such title to the Trust Fund, or any part thereof,
and, subject to the other provisions of this Section 8.10, such powers, duties, obligations, rights and trusts as
the Depositor and the Trustee may consider necessary or desirable. If the Depositor shall not have joined in such appointment
within 15 days after the receipt by it of a request so to do, or in case a Servicer Termination Event shall have occurred and
be continuing, the Trustee alone shall have the power to make such appointment. Except as required by applicable law, the appointment
of a co-Trustee or separate Trustee shall not relieve the Trustee of its responsibilities, obligations and liabilities hereunder.
No co-Trustee or separate Trustee hereunder shall be required to meet the terms of eligibility as a successor


 



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Trustee under Section 8.06 hereunder and no notice to Holders of Certificates of the appointment of co-Trustee(s)
or separate Trustee(s) shall be required under Section 8.08 hereof.


 


In the case of any appointment of a
co-Trustee or separate Trustee pursuant to this Section 8.10, all rights, powers, duties and obligations conferred
or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate Trustee
or co-Trustee jointly (it being understood that such separate Trustee or co-Trustee is not authorized to act separately without
the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts
are to be performed (whether as Trustee hereunder or as successor to the Master Servicer hereunder), the Trustee shall be incompetent
or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations (including the holding of
title to the Trust Fund or any portion thereof in any such jurisdiction) shall be exercised and performed by such separate Trustee
or co-Trustee solely at the direction of the Trustee.


 


No Trustee under this Agreement shall
be personally liable by reason of any act or omission of any other trustee under this Agreement. The Depositor and the Trustee
acting jointly may at any time accept the resignation of or remove any separate Trustee or co-Trustee, or if the separate Trustee
or co-Trustee is an employee of the Trustee, the Trustee acting alone may accept the resignation of or remove any separate Trustee
or co-Trustee.


 


Any notice, request or other writing
given to the Trustee shall be deemed to have been given to each of the then separate Trustees and co-Trustees, as effectively as
if given to each of them. Every instrument appointing any separate Trustee or co-Trustee shall refer to this Agreement and the
conditions of this Article VIII. Every such instrument shall be filed with the Trustee. Each separate Trustee and co-Trustee,
upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment,
either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Agreement, specifically
including every provision of this Agreement relating to the conduct of, affecting the liability of, or affording protection to,
the Trustee. In no event shall any such separate Trustee or co-Trustee be entitled to any provision relating to the conduct of,
affecting the liability of or affording protection to such separate Trustee or co-Trustee that imposes a standard of conduct less
stringent than that imposed by the Trustee hereunder, affording greater protection than that afforded to the Trustee hereunder
or providing a greater limit on liability than that provided to the Trustee hereunder.


 


Any separate Trustee or co-Trustee
may, at any time, constitute the Trustee its agent or attorney-in-fact, with full power and authority, to the extent not prohibited
by law, to do any lawful act under or in respect of this Agreement on its behalf and in its name. If any separate Trustee or co-Trustee
shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies and trusts shall
vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor Trustee.


 



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Article IX



TERMINATION


 


Section 9.01     Termination.
(a) The respective obligations and responsibilities of the Master Servicer, the Special Servicer, the Depositor, the
Operating Advisor, the Asset Representations Reviewer, the Certificate Administrator and the Trustee created hereby with
respect to the Certificates (other than the obligations of the Certificate Administrator to make certain payments and to send
certain notices to Certificateholders as hereinafter set forth) shall terminate upon payment (or provision for payment) to
the Certificateholders and the Serviced Companion Loan Noteholders of all amounts held by or on behalf of the Trustee, the
Certificate Administrator and the Master Servicer, as the case may be, required hereunder to be so paid on the Distribution
Date following the earlier to occur of (i) the purchase of the Mortgage Loans and all other property held by the Trust
Fund in accordance with Section 9.01(c) of this Agreement; (ii) the exchange by the Sole Certificateholder
of its Certificates for the Mortgage Loans in accordance with Section 9.01(g) of this Agreement; and
(iii) the later of (a) the receipt or collection of the last payment due on any Mortgage Loan included in the Trust
Fund, or (b) the liquidation and disposition pursuant to this Agreement of the last asset held by the Trust Fund; provided,
that in no event shall the trust created hereby continue beyond the expiration of twenty-one years from the death of the last
survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the United Kingdom, living on
the date hereof.


 


For purposes of this Section 9.01,
the Sole Certificateholder shall have the first option to terminate the Trust Fund, pursuant to Section 9.01(g), and
then the Certificateholder owning a majority of the Percentage Interests in the Controlling Class, the Special Servicer and the
Master Servicer, in that order, shall have the option to terminate the Trust Fund pursuant to subsection (c). For purposes
of this Section 9.01, the Directing Holder with the consent of the Holders of the Controlling Class, shall act on behalf
of the Holders of the Controlling Class in purchasing the assets of the Trust Fund and terminating the Trust.


 


(b)          The Trust Fund, the Lower-Tier
REMIC and the Upper-Tier REMIC shall be terminated and the assets of the Trust Fund shall be sold or otherwise disposed of in connection
therewith, only pursuant to a “plan of complete liquidation” within the meaning of Section 860F(a)(4)(A) of
the Code providing for the actions contemplated by the provisions hereof and pursuant to which the applicable Notice of Termination
is given, and requiring that the Trust Fund, the Lower-Tier REMIC and the Upper-Tier REMIC shall terminate on a Distribution Date
occurring not more than 90 days following the date of adoption of the plan of complete liquidation. For purposes of this Section 9.01(b),
the Notice of Termination given pursuant to Section 9.01(c) of this Agreement shall constitute the adoption of the
plan of complete liquidation as of the date such notice is given, which date shall be specified by the Certificate Administrator
in the final federal income tax returns of the Upper-Tier REMIC and the Lower-Tier REMIC. Notwithstanding the termination of the
Lower-Tier REMIC or the Upper-Tier REMIC or the Trust Fund, the Certificate Administrator shall be responsible for filing the final
Tax Returns for each such REMIC for the period ending with such termination, and shall retain books and records with respect to
such REMICs for the same period of retention for which it maintains its own tax returns or such other reasonable period. The Trustee
shall sign all Tax Returns and other reports required by this Section.


 



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(c)          The Certificateholder owning
a majority of the Percentage Interest in the Controlling Class and, if no such Certificateholder exercises such option, the Special
Servicer, and if the Special Servicer does not exercise such option, the Master Servicer may effect an early termination of the
Trust Fund, upon not less than 30 days’ prior Notice of Termination given to the Trustee, the Special Servicer and the
Master Servicer any time specifying the Anticipated Termination Date, which shall be on or after the Early Termination Notice Date,
by purchasing on such date all, but not less than all, of the Mortgage Loans then included in the Trust Fund, and the Trust’s
interest in all property acquired in respect of any Mortgage Loan, at a purchase price, payable in cash, equal to the sum of, without
duplication:


 


(i)          100% of the
Stated Principal Balance of each Mortgage Loan included in the Trust as of the last day of the month preceding such Anticipated
Termination Date (less any P&I Advances previously made on account of principal);


 


(ii)         the fair market
value of all other property included in the Trust Fund as of the last day of the month preceding such Anticipated Termination Date,
as determined by an Independent appraiser acceptable to the Master Servicer as of a date not more than 30 days prior to the
last day of the month preceding such Distribution Date;


 


(iii)        all unpaid
interest accrued on the unpaid balance of each Mortgage Loan (including any Mortgage Loan as to which title to the related Mortgaged
Property has been acquired) at the Mortgage Rate to the last day of the month preceding such Anticipated Termination Date
(less any P&I Advances previously made on account of interest); and


 


(iv)        the aggregate
amount of unreimbursed Advances, with interest thereon at the Reimbursement Rate, and unpaid Servicing Compensation, Special Servicing
Compensation, Operating Advisor Fees, Certificate Administrator/Trustee Fees, the CREFC® Intellectual Property Royalty
License Fees and Trust Fund expenses.


 


If the Certificateholder owning a majority
of the Percentage Interests in the Controlling Class, the Master Servicer or the Special Servicer purchases all of the Mortgage
Loans and all property acquired in respect of any Mortgage Loan remaining in the Trust Fund in accordance with this Section 9.01(c),
the Certificateholder owning a majority of the Percentage Interests in the Controlling Class, the Master Servicer or the Special
Servicer, as applicable, shall deposit in the Lower-Tier Distribution Account, as applicable, not later than the Master Servicer
Remittance Date relating to the Anticipated Termination Date on which the final distribution on the Certificates is to occur, an
amount in immediately available funds equal to the above-described purchase price (exclusive of any portion thereof payable to
any Person other than the Certificateholders pursuant to Section 3.05(a) of this Agreement, which portion shall be
deposited in the Collection Account). In addition, the Master Servicer shall transfer to the Certificate Administrator for deposit
in the Lower-Tier Distribution Account, as applicable, all amounts required to be transferred thereto on the Master Servicer Remittance
Date from the Collection Account, together with any other amounts on deposit in the Collection Account that would otherwise be
held for future distribution. Upon confirmation by the Master Servicer in writing that it has transferred all such amounts to the
Certificate Administrator, the Custodian shall release or cause to be released to the Certificateholder owning a majority of the
Percentage Interests in the Controlling Class, the Master Servicer or the Special Servicer, as applicable, the


 



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Mortgage Files for
the remaining Mortgage Loans and shall execute all assignments, endorsements and other instruments furnished to it by such purchasing
party as shall be necessary to effectuate transfer of the Mortgage Loans and all property acquired in respect of any Mortgage Loan
remaining in the Trust Fund, and the Trust Fund shall be liquidated in accordance with this Article IX.


 


For purposes of this Section 9.01,
the Directing Holder with the consent of the Holders of the Controlling Class, shall act on behalf of the Holders of the Controlling
Class in purchasing the assets of the Trust Fund and terminating the Trust.


 


As a condition to the purchase of the
assets of the Trust Fund pursuant to this Section 9.01(c), the purchaser shall deliver to the Trustee and the Certificate
Administrator an Opinion of Counsel, which shall be at the expense of such purchaser, stating that such termination will be a “qualified
liquidation” under Section 860F(a)(4)(A) of the Code. All costs and expenses incurred by any and all parties to
this Agreement or by the Trust Fund in connection with the purchase of the Mortgage Loans and other assets of the Trust Fund pursuant
to this Section 9.01(c) shall be borne by the party exercising its purchase rights hereunder. The Trustee and the Certificate
Administrator shall be entitled to rely conclusively on any determination made by an Independent appraiser pursuant to this subsection (c).


 


(d)          If the Trust Fund has not been
previously terminated pursuant to subsection (c) of this Section 9.01, the Certificate Administrator
shall determine as soon as practicable the Distribution Date on which the Certificate Administrator reasonably anticipates, based
on information with respect to the Mortgage Loans previously provided to it, that the final distribution will be made to the Holders
of outstanding Regular Certificates, notwithstanding that such distribution may be insufficient to distribute in full the Certificate
Balance of each Class of Certificates, together with amounts required to be distributed on such Distribution Date pursuant to Section 4.01(b)
of this Agreement; provided, that, if no such Classes of Certificates are then outstanding, the final distribution shall
be made (i) to the Holders of the Class R Certificates (in respect of the Class LTR Interest) of any amount remaining in the
Collection Accounts, the Lower-Tier Distribution Account, and (ii) to the Holders of the Class R Certificates (in respect
of the Class UTR Interest) of any amount remaining in the Upper-Tier Distribution Account.


 


(e)          Notice of any termination of
the Trust Fund pursuant to this Section 9.01 shall be mailed by the Certificate Administrator to Certificateholders
(with a copy to the Trustee, the Master Servicer, the Special Servicer, the Mortgage Loan Sellers, the Operating Advisor, the Asset
Representations Reviewer, the related Serviced Companion Loan Noteholder (if any) and the 17g-5 Information Provider (who shall
promptly post such notice to the 17g-5 Information Provider’s Website pursuant to Section 3.14(d) of this Agreement)),
at their addresses shown in the Certificate Registrar not more than 30 days, and not less than ten days, prior to the Anticipated
Termination Date. The notice mailed by the Certificate Administrator to Certificateholders shall:


 


(i)          specify the
Anticipated Termination Date on which the final distribution is anticipated to be made to Holders of Certificates of the Classes
specified therein;


 


(ii)          specify the
amount of any such final distribution, if known; and


 



    	-406-



    	 



    

 


(iii)        state that
the final distribution to Certificateholders will be made only upon presentation and surrender of Certificates at the office of
the Paying Agent therein specified.


 


If the Trust Fund is not terminated on any Anticipated
Termination Date for any reason, the Certificate Administrator shall promptly mail notice thereof to each Certificateholder.


 


(f)          Any funds not distributed on
the Termination Date because of the failure of any Certificateholders to tender their Certificates shall be set aside and held
in trust for the account of the appropriate non-tendering Certificateholders, whereupon the Trust Fund shall terminate. If any
Certificates as to which notice of the Termination Date has been given pursuant to this Section 9.01 shall not have
been surrendered for cancellation within six months after the time specified in such notice, the Certificate Administrator shall
mail a second notice to the remaining Certificateholders, at their last addresses shown in the Certificate Register, to surrender
their Certificates for cancellation in order to receive, from such funds held, the final distribution with respect thereto. If
within one year after the second notice any Certificate shall not have been surrendered for cancellation, the Certificate Administrator
may, directly or through an agent, take appropriate steps to contact the remaining Certificateholders concerning surrender of their
Certificates. The costs and expenses of maintaining such funds and of contacting Certificateholders shall be paid out of the assets
which remain held. If within two years after the second notice any Certificates shall not have been surrendered for cancellation,
the Paying Agent shall pay to the Certificate Administrator all amounts distributable to the Holders thereof, and the Certificate
Administrator shall thereafter hold such amounts for the benefit of such Holders until the earlier of (i) its termination
as Certificate Administrator hereunder and the transfer of such amounts to a successor certificate administrator and (ii) the
termination of the Trust Fund and distribution of such amounts to the Class R Certificateholders. No interest shall accrue or be
payable to any Certificateholder on any amount held as a result of such Certificateholder’s failure to surrender its Certificate(s)
for final payment thereof in accordance with this Section 9.01.


 


(g)          Following the date on which
the Class X-A Notional Amount, the Class X-B Notional Amount, the Class X-C Notional Amount and the aggregate Certificate
Balance of the Class A-1, Class A-2, Class A-SB, Class A-3A, Class A-3B, Class A-4, Class A-M, Class B,
Class C and Class D Certificates is reduced to zero, the Sole Certificateholder shall have the right to exchange all of the then-outstanding
Certificates (other than (i) the Class X-D, Class X-E Certificates and Class X-F Certificates if the Sole Certificateholder
has only taken an assignment of the Voting Rights of the Class X-D, Class X-E Certificates and Class X-F Certificates pursuant
to the definition of “Sole Certificateholder” and (ii) the Class R Certificates) for all of the Mortgage Loans
and each REO Property remaining in the Trust Fund as contemplated by clause (ii) of Section 9.01(a) by giving written
notice to all the parties hereto no later than 60 days prior to the anticipated date of exchange; provided that such
Sole Certificateholder pays to the Certificate Administrator as additional compensation an amount equal to one day of interest
calculated at the Prime Rate on the aggregate Certificate Balance of the Sequential Pay Certificates as of the first day of the
current calendar month and such Sole Certificateholder pays to the Master Servicer as additional compensation an amount equal to
(i) the product of (a) the Prime Rate, (b) the aggregate Certificate Balance of the then outstanding Certificates (other than any
Class of Class X Certificates and the Class R


 



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Certificates) as of the date of the exchange and (c) three, divided by (ii)
360, for the Mortgage Loans and any REO Properties remaining in the Trust Fund and such payments shall be treated as made by the
Sole Certificateholder directly to the Certificate Administrator and the Master Servicer and not through or by either of the Trust
REMICs; provided, further, that if the Holders of the Class X-D, Class X-E Certificates and Class X-F Certificates
have assigned their Voting Rights to the “Sole Certificateholder”, then the Sole Certificateholder may exchange the
Class E, Class F, Class G and Class H Certificates for all of the Mortgage Loans and each REO Property remaining in the
Trust Fund as contemplated by clause (ii) of Section 9.01(a), and the Holders of the Class X-D, Class X-E Certificates
and Class X-F Certificates shall be entitled to exchange those Certificates for consideration in an amount to be agreed by the
Sole Certificateholder and the Holders of the Class X-D, Class X-E Certificates and Class X-F Certificates (the “Class X
Payoff Amount”); provided, that the Class X Payoff Amount shall consist solely of cash or other assets otherwise
payable or deliverable by the Trust to the Sole Certificateholder and to no other Person. If the Sole Certificateholder elects
to exchange all of the then-outstanding Certificates (other than (i) the Class X-D Certificates, Class X-E Certificates
and Class X-F Certificates if the Sole Certificateholder has only taken an assignment of the Voting Rights of the Class X-D Certificates,
Class X-E Certificates and Class X-F Certificates pursuant to the definition of “Sole Certificateholder” and (ii) the
Class R Certificates) for all of the Mortgage Loans and each REO Property remaining in the Trust Fund in accordance with the preceding
sentence, such Sole Certificateholder, not later than the Distribution Date on which the final distribution on the Certificates
is to occur, shall deposit in the Collection Account an amount in immediately available funds equal to all amounts due and owing
to the Depositor, the Master Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor and the Trustee
hereunder through the date of the liquidation of the Trust Fund that may be withdrawn from the Collection Account, or an escrow
account acceptable to the respective parties hereto, pursuant to Section 3.06(a) of this Agreement or that may be withdrawn
from the Distribution Accounts pursuant to Section 3.06(g) of this Agreement, but only to the extent that such amounts
are not already on deposit in the Collection Account. In addition, the Master Servicer shall transfer all amounts required to be
transferred to the Certificate Administrator for deposit in the Lower-Tier Distribution Account on such Servicer Remittance Date
from the Collection Account pursuant to Section 3.05 of this Agreement. Upon confirmation from the Certificate Administrator
that such final deposits have been made and following the surrender of all the then-outstanding Certificates (other than (i) the
Class X-D Certificates, Class X-E Certificates and Class X-F Certificates if the Sole Certificateholder has only taken an
assignment of the Voting Rights of the Class X-D Certificates, Class X-E Certificates and Class X-F Certificates pursuant
to the definition of “Sole Certificateholder” and (ii) the Class R Certificates) on the final Distribution
Date to the Certificate Administrator, the Custodian shall (i) upon receipt of a Request for Release from the Master Servicer,
release to the Sole Certificateholder or any designee thereof, the Mortgage Files for the remaining Mortgage Loans and shall execute
all assignments, endorsements and other instruments furnished to it by the Sole Certificateholder as shall be necessary to effectuate
transfer of the Mortgage Loans and REO Properties remaining in the Trust Fund and (ii) if the Sole Certificateholder has only taken
an assignment of the Voting Rights of the Class X-D Certificates, Class X-E Certificates and Class X-F Certificates pursuant
to the definition of “Sole Certificateholder”, upon receipt of the Class X-D, Class X-E Certificates and Class
X-F Certificates, release the Class X Payoff Amount to the Holders of the Class X-D Certificates, Class X-E Certificates
and Class X-F Certificates, and the Trust Fund shall be liquidated in accordance with this Article IX; provided, that
the release of the Class X


 



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Payoff Amount to the Holders of the Class X-D Certificates, Class X-E Certificates and Class
X-F Certificates shall be deemed to be delivery of the Class X Payoff Amount by the Trust to the Sole Certificateholder and
by the Sole Certificateholder to the Holders of the Class X-D Certificates, Class X-E Certificates and Class X-F Certificates.
The remaining Mortgage Loans and REO Properties are deemed distributed to the Sole Certificateholder in liquidation of the Trust
Fund pursuant to this Article IX. Solely for federal income tax purposes, the Sole Certificateholder shall be deemed to have
purchased the assets of the Lower-Tier REMIC for an amount equal to the remaining Certificate Balance of its Certificates (other
than the Class R Certificates), plus accrued, unpaid interest with respect thereto, and the Certificate Administrator shall
credit such amounts against amounts distributable in respect of the Lower-Tier Regular Interests and such Certificates.


 


(h)          [Reserved.]


 


(i)          The duties of the Operating
Advisor under this Agreement will terminate, without cost or expense to the Operating Advisor, upon termination of the Trust Fund.


 


Article X



EXCHANGE ACT REPORTING AND REGULATION AB COMPLIANCE


 


Section 10.01     Intent
of the Parties; Reasonableness. Except with respect to Section 10.08, Section 10.11, Section 10.13, Section 10.14, Section 10.15, Section 10.16
and Section 10.17, the parties hereto acknowledge and agree that the purpose of this Article X is to
facilitate compliance by the Depositor (and any Other Depositor of any Other Securitization that includes a Serviced
Companion Loan) with the provisions of Regulation AB and related rules and regulations of the Commission. None of the
Depositor, the Certificate Administrator or the Trustee shall exercise its rights to request delivery of information or other
performance under these provisions other than in reasonable good faith, or for purposes other than compliance with the
Securities Act, the Exchange Act, the Sarbanes-Oxley Act and, in each case, the rules and regulations of the Commission
thereunder. The parties to this Agreement acknowledge that interpretations of the requirements of Regulation AB may change
over time due to interpretive guidance provided by the Commission or its staff, and agree to comply, subject to Section 10.02,
with reasonable requests made by the Depositor (or any Other Depositor or Other Trustee of any Other Securitization that
includes a Serviced Companion Loan), the Certificate Administrator or the Trustee in reasonable good faith for delivery of
information under these provisions on the basis of such evolving interpretations of Regulation AB (to the extent such
interpretations require compliance and are not “grandfathered” and do not mandate compliance). In connection with
the DBJPM 2016-C1 Mortgage Trust Commercial Mortgage
Pass-Through Certificates, Series 2016-C1 and any Other Securitization subject to Regulation AB that includes a Serviced
Companion Loan, subject to the preceding sentence, each of the parties to this Agreement shall cooperate fully with the
Depositor, the Certificate Administrator, the Trustee and any Other Depositor or Other Trustee of any Other Securitization
that includes a Serviced Companion Loan, as applicable, to deliver or make available to the Depositor, the Certificate
Administrator, the Trustee and any such Other Depositor or Other Trustee, as applicable (including any of their assignees or
designees), any and all information in its possession and necessary in the reasonable good faith determination of the
Depositor, the Certificate Administrator, the Trustee or such


 



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Other Depositor or Other Trustee, as applicable, to permit the
Depositor or such Other Depositor, as applicable, to comply with the provisions of Regulation AB, together with such
disclosure relating to the Master Servicer, the Special Servicer, the Operating Advisor, the Asset Representations Reviewer,
the Certificate Administrator and the Trustee, as applicable, and any Servicing Function Participant, or the Servicing of the
Mortgage Loans (other than a Non-Serviced Mortgage Loan) (or, if applicable, the related Serviced Companion Loan), reasonably
believed by the Depositor, the Certificate Administrator, the Trustee or the related Other Depositor or the related Other
Trustee, as applicable, in good faith to be necessary in order to effect such compliance. Each party to this Agreement shall
have a reasonable period of time to comply with any written request made under this Section 10.01, but in
any event, shall, upon reasonable advance written request, provide information in sufficient time to allow the Depositor, the
Certificate Administrator or the Trustee, as applicable, to satisfy any related filing requirements.


 


For purposes of this Article X,
to the extent any party has an obligation to exercise commercially reasonable efforts to cause a third party to perform, such party
hereunder shall not be required to bring any legal action against such third party in connection with such obligation.


 


Section 10.02     Notification
Requirements and Deliveries in Connection with securitization of a Serviced Companion Loan. (a)  Any other provision
of this Article X to the contrary notwithstanding, including, without limitation, any deadlines for delivery set forth
in this Article X, in connection with the requirements contained in this Article X that provide for the
delivery of information and other items to, and the cooperation with, the Other Depositor and Other Trustee of any Other Securitization
that includes a Serviced Companion Loan and is subject to Regulation AB, no party hereunder shall be obligated to provide any
such items to or cooperate with such Other Depositor or Other Trustee until the Other Depositor or Other Trustee of such Other
Securitization has provided each party hereto with not less than 10 Business Days’ (or such shorter period as required for
such Other Depositor or Other Trustee to comply with related filing obligations, provided that (i) such Other Depositor or Other
Trustee, as applicable, has provided written notice as soon as reasonably practicable and, concurrently with such written notice,
obtained verbal confirmation of receipt of such written notice, in each case, in accordance with Section 11.05 of this Agreement
and (ii) such period shall not be less than 3 Business Days’) written notice (which shall only be required to be delivered
once) stating that such Other Securitization is subject to Regulation AB and that the Other Securitization is subject to Exchange
Act reporting, and (ii) specifying in reasonable detail the information and other items requested to be delivered (insofar
as such information or other items are not expressly identified herein); provided, that if Exchange Act reporting is being
requested, such Other Depositor or Other Trustee is only required to provide a single written notice to such effect. Any reasonable
cost and expense of the Master Servicer, Special Servicer, Operating Advisor, the Asset Representations Reviewer, Trustee and
Certificate Administrator in cooperating with such Other Depositor or Other Trustee of such Other Securitization (above and beyond
their expressed duties hereunder) shall be the responsibility of such Other Depositor or Other Securitization. The parties hereto
shall have the right to request written confirmation from the Other Depositor or Other Trustee of such Other Securitization as
to whether Regulation AB or the Exchange Act requires the delivery of the items identified in this Article X to such
Other Depositor and Other Trustee of such Other Securitization prior to providing any of the reports or other information


 



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required to be delivered under this Article X in connection
therewith and if any such party makes such a request, then (i) upon such requesting party’s receipt of such
written confirmation, such requesting party shall comply with the deadlines for delivery set forth in this Article X
with respect to such Other Securitization and (ii) until such requesting party’s receipt of such written
confirmation, such party shall not be required to deliver such items. The parties hereunder shall also have the right to
require that such Other Depositor provide them with the contact details of such Other Depositor, Other Trustee and any other
parties to the Other Pooling and Servicing Agreement relating to such Other Securitization.


 


(b)          Each of the Master Servicer,
the Special Servicer, the Certificate Administrator and the Trustee shall, upon reasonable prior written request given in accordance
with the terms of Section 10.02(a) above, and subject to a right of the Master Servicer, the Special Servicer, the
Certificate Administrator or the Trustee, as the case may be, to review and approve such disclosure materials, permit a holder
of a related Serviced Companion Loan to use such party’s description contained in the Prospectus (updated as appropriate
by the Master Servicer, the Special Servicer, the Certificate Administrator or the Trustee, as applicable) for inclusion in the
disclosure materials relating to any securitization of a Serviced Companion Loan.


 


(c)          The Master Servicer, the Special
Servicer, the Certificate Administrator and the Trustee, upon reasonable prior written request given in accordance with the terms
of Section 10.02(a) above, shall each timely provide (to the extent the reasonable out-of-pocket cost thereof is paid
or caused to be paid by the requesting party) to the Other Depositor and any underwriters with respect to any Other Securitization
that includes a Serviced Companion Loan such opinion(s) of counsel, certifications and/or indemnification agreement(s) with respect
to the updated description referred in Section 10.02(b) with respect to such party, substantially identical to those,
if any, delivered by the Master Servicer, the Special Servicer, the Certificate Administrator or the Trustee, as the case may be,
or their respective counsel, in connection with the information concerning such party in the Prospectus and/or any other disclosure
materials relating to this Trust (updated as deemed appropriate by the Master Servicer, the Special Servicer, the Certificate Administrator
or the Trustee, or their respective legal counsel, as the case may be). Neither the Master Servicer, the Special Servicer, the
Certificate Administrator or the Trustee shall be obligated to deliver any such item with respect to the securitization of a Serviced
Companion Loan if it did not deliver a corresponding item with respect to this Trust.


 


(d)          Each of the Master Servicer,
the Special Servicer, the Certificate Administrator and the Trustee, upon reasonable prior written request given in accordance
with the terms of Section 10.02(a) above, shall provide (to the extent the reasonable out-of-pocket cost thereof is paid
or caused to be paid by the applicable party set forth below in this Section 10.02(d)) to the Other Depositor and the Other
Trustee under the Other Pooling and Servicing Agreement related to any Other Securitization the following: (i) any information
(including, but not limited to, disclosure information) required for such Other Securitization to comply in a timely manner with
applicable filing requirements under Items 1.01 and 6.02 of Form 8-K and (ii) such opinion(s) of counsel, certifications and/or
indemnification agreement(s) with respect to such information that are substantially similar to those delivered by the Master Servicer,
the Special Servicer, the Certificate Administrator or the Trustee, as the case may be, or their


 



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respective counsel, in connection
with the information concerning such party in the Prospectus and/or any other disclosure materials relating to this Trust.


 


In the case of a Form 8-K that is filed
by or on behalf of an Other Securitization in connection with the closing of this DBJPM 2016-C1 Mortgage Trust securitization transaction,
the reasonable out-of-pocket cost of the information, opinion(s) of counsel, certifications and indemnification agreement(s) provided
by or on behalf of the Master Servicer, the Special Servicer, the Certificate Administrator or the Trustee, as the case may be,
pursuant to this Section 10.02(d) shall be paid or caused to be paid (pursuant to a payment arrangement reasonably
acceptable to the delivering party and the receiving party and agreed to as a condition precedent to delivery of such items) by
the applicable mortgage loan seller that transferred the related Serviced Companion Loan to the related Other Depositor for inclusion
in such Other Securitization.


 


In the case of a Form 8-K that is filed
by or on behalf of an Other Securitization as a result of the termination, removal, resignation or any other replacement of the
Master Servicer, the Special Servicer, the Trustee or the Certificate Administrator under this Agreement, the out-of-pocket cost
of the information, opinion(s) of counsel, certifications and indemnification agreement(s) provided by or on behalf of the Master
Servicer, the Special Servicer, the Certificate Administrator or the Trustee, as the case may be, pursuant to this Section 10.02(d)
shall be paid or caused to be paid by the same party or parties required to pay the costs and expenses relating to such termination,
removal, resignation or other replacement pursuant to this Agreement.


 


Section 10.03     Information
to be Provided by the Master Servicer and the Special Servicer. (a) For so long as the Trust is subject to the reporting
requirements of the Exchange Act and for so long as any Other Securitization that includes a Serviced Companion Loan is
subject to the reporting requirements of the Exchange Act (in addition to any requirements contained in Section 10.09)
in connection with the succession to the Master Servicer, Special Servicer or any Servicing Function Participant (if such
Servicing Function Participant is a servicer as contemplated by Item 1108(a)(2) of Regulation AB) as servicer or Sub-Servicer
under or as contemplated by this Agreement or any related Other Pooling and Servicing Agreement by any Person (i) into
which the Master Servicer, Special Servicer or such Servicing Function Participant may be merged or consolidated,
(ii) which may be appointed as a sub-servicer (other than the appointment of a Mortgage Loan Seller Sub-Servicer) by a
Master Servicer or Special Servicer, or (iii) that is appointed as a successor Master Servicer or successor Special
Servicer pursuant to Section 3.22 or Section 7.02, the Master Servicer, the Special Servicer or any
Servicing Function Participant (with respect to the foregoing clauses (i) and (ii)) or the successor Master Servicer or the
successor Special Servicer (with respect to the foregoing clause (iii)) shall, as a condition to such succession and at
the reasonable expense of the same party or parties required to pay the costs and expenses relating to such succession
pursuant to this Agreement, provide to the Depositor and to any Other Depositor related to any Other Securitization that
includes a Serviced Companion Loan, at least 5 Business Days (other than a succession or appointment pursuant to Section 7.01(b)
for which notice shall be delivered as soon as reasonably practicable) prior to the effective date of such succession or
appointment as long as such disclosure prior to such effective date would not be violative of any applicable law or
confidentiality agreement, otherwise no later than the Business Day following such effective date, but in no event later


 



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than the
time required pursuant to Section 10.09, (x) written notice to the Trustee, the Certificate Administrator and
the Depositor (and any Other Trustee and Other Depositor related to any Other Securitization that includes a Serviced Companion
Loan) of such succession or appointment, (y) in writing and in form and substance reasonably satisfactory to the Trustee,
the Certificate Administrator and the Depositor (or any Other Trustee or Other Depositor of any Other Securitization that includes
a Serviced Companion Loan), all information relating to such successor reasonably requested by the Depositor (or such Other Depositor)
so that it may comply with its reporting obligation under Items 1.01 and 6.02 of Form 8-K with respect to any Class of Certificates
or Serviced Companion Loan Securities and (z) such opinion(s) of counsel, certifications and/or indemnification agreement(s)
with respect to such information that are substantially similar to those delivered by the Master Servicer or the Special Servicer,
as the case may be, or their respective counsel, in connection with the information concerning such party in the Prospectus and/or
any other disclosure materials relating to this Trust.


 


Section 10.04     Information
to be Provided by the Trustee. (a) For so long as the Trust is subject to the reporting requirements of the Exchange Act,
(in addition to any requirements contained in Section 10.09) in connection with the succession to the Trustee as
Trustee or appointment of a co-Trustee under this Agreement by any Person (i) into which the Trustee may be merged or
consolidated, (ii) which may be appointed as a co-Trustee or separate Trustee pursuant to Section 8.10, or
(iii) that is appointed as a successor Trustee pursuant Section 8.08, the Trustee (with respect to the
foregoing clauses (i) and (ii)) or the successor Trustee (with respect to the foregoing clause (iii)) shall, as a
condition to such succession and at the reasonable expense of the same party or parties required to pay the costs and
expenses relating to such succession pursuant to this Agreement, provide to the Depositor and to the Other Depositor related
to any Other Securitization that includes a Serviced Companion Loan, at least 5 calendar days prior to the effective date of
such succession or appointment as long as such disclosure prior to such effective date would not be violative of any
applicable law or confidentiality agreement, otherwise immediately following such effective date, but in no event later than
the time required pursuant to Section 10.09, (x) written notice to the Depositor, and to the Other Depositor
related to any Other Securitization that includes a Serviced Companion Loan, of such succession or appointment, (y) in
writing and in form and substance reasonably satisfactory to the Depositor, and to the Other Depositor related to any Other
Securitization that includes a Serviced Companion Loan, all information reasonably requested by the Depositor, or such Other
Depositor, so that it may comply with its reporting obligation under Items 1.01 and 6.02 of Form 8-K with respect to any
Class of Certificates or Serviced Companion Loan Securities and (z) such opinion(s) of counsel, certifications and/or
indemnification agreement(s) with respect to such information that are substantially similar to those delivered by the
Trustee or their respective counsel, in connection with the information concerning such party in the Prospectus and/or any
other disclosure materials relating to this Trust.


 


Section 10.05     Filing
Obligations. (a) Each of the Master Servicer, the Special Servicer, the Operating Advisor, the Asset Representations
Reviewer, the Certificate Administrator and the Trustee shall, and each of the Master Servicer, the Special Servicer, the
Operating Advisor, the Asset Representations Reviewer, the Certificate Administrator and the Trustee, as applicable, shall
use commercially reasonable efforts to cause each Servicing Function Participant (other than (x) any party to this
Agreement or (y) a Mortgage Loan Seller Sub-Servicer) with which it has entered into a servicing relationship with
respect to the Mortgage


 



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Loans (other than a Non-Serviced Mortgage Loan) to, reasonably cooperate
with the Certificate Administrator and the Depositor (and any Other Trustee or Other Depositor related to any Other Securitization
that includes a Serviced Companion Loan) in connection with the Certificate Administrator’s and Depositor’s (or such
Other Trustee’s or Other Depositor’s) good faith efforts to satisfy the Trust’s (or such Other Securitization’s)
reporting requirements under the Exchange Act.


 


(b)          [Reserved.]


 


(c)          With respect to any Mortgaged
Property that secures a Serviced Companion Loan that the applicable Other Depositor has notified the Master Servicer and Special
Servicer in writing is a “significant obligor” (within the meaning of Item 1101(k) of Regulation AB) (together with
notification of the Relevant Distribution Date) with respect to an Other Securitization that includes such Serviced Companion Loan,
to the extent that the Master Servicer is in receipt of the updated financial statements of such “significant obligor”
for any calendar quarter (other than the fourth calendar quarter of any calendar year) from the Mortgagor or Special Servicer,
beginning with the first calendar quarter following receipt of such notice from the Other Depositor, or the updated financial statements
of such “significant obligor” for any calendar year, beginning for the calendar year following such notice from the
Other Depositor, as applicable, the Master Servicer shall deliver to the Other Depositor, on or prior to the day that occurs two
(2) Business Days prior to the related “significant obligor” NOI Quarterly Filing Deadline or seven (7) Business Days
prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, (A) if such financial statement receipt occurs
twelve (12) or more Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline or seventeen (17) or more
Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, such financial statements of
the “significant obligor”, together with the net operating income of such “significant obligor” for the
applicable period as calculated by the Master Servicer in accordance with CREFC® guidelines and (B) if such financial
statement receipt occurs less than twelve (12) Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline
or less than seventeen (17) Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, such
financial statements of the “significant obligor”, together with the net operating income of such “significant
obligor” for the applicable period as reported by the related Mortgagor in such financial statements.


 


If the Master Servicer does not receive
financial information satisfactory to comply with Item 6 of Form 10-D or Item 1112(b)(1) of Form 10-K, as the case may be, of such
“significant obligor” within ten (10) Business Days after the date such financial information is required to be delivered
under the related Mortgage Loan documents, the Master Servicer shall notify the Other Depositor with respect to such Other Securitization
that includes the related Companion Loan (or shall cause each applicable Sub-Servicing Agreement to require any related Sub-Servicer
to notify such Other Depositor) that it has not received such financial information.  The Master Servicer shall use efforts
consistent with the Servicing Standard (taking into account, in addition, the ongoing reporting obligations of such Other Depositor
under the Exchange Act) to obtain the periodic financial statements required to be delivered by the related Mortgagor under the
related Mortgage Loan documents.


 



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The Master Servicer shall (or shall
cause any related Sub-Servicing Agreement entered into after receipt of written notice from the Other Depositor that such Serviced
Pari Passu Companion Loan is a significant obligor to require the related Sub-Servicer to) retain written evidence of each instance
in which it (or a Sub-Servicer) attempts to contact the related Mortgagor related to any such “significant obligor”
(identified to it as such by the Other Depositor in accordance with the second preceding paragraph) to obtain the required financial
information and is unsuccessful and, within five (5) Business Days prior to the date in which a Form 10-D or Form 10-K, as applicable,
is required to be filed by the Other Securitization, shall forward an Officer’s Certificate evidencing its attempts to obtain
this information to the certificate administrator and Other Depositor related to such Other Securitization. This Officer’s
Certificate should be addressed to the certificate administrator at its corporate trust office, as specified in the related Other
Pooling and Servicing Agreement.


 


Section 10.06     Form
10-D Filings. Within 15 days after each Distribution Date (subject to permitted extensions under the Exchange Act), the
Certificate Administrator shall prepare and file on behalf of the Trust any Form 10-D required by the Exchange Act and the
rules and regulations of the Commission thereunder, in form and substance as required by the Exchange Act and such rules and
regulations. A duly authorized representative of the Depositor shall sign each Form 10-D filed on behalf of the Trust. The
Certificate Administrator shall file each Form 10-D with a copy of the related Distribution Date Statement attached thereto;
provided that the Certificate Administrator shall redact from such Distribution Date Statement any information relating to
the ratings of the Certificates and the identity of the Rating Agencies. Any disclosure in addition to the Distribution Date
Statement that is required to be included on Form 10-D (“Additional Form 10-D Disclosure”) shall, pursuant
to the paragraph immediately below, be reported by the parties set forth on Schedule IV and directed to the
Certificate Administrator and the Depositor for approval by the Depositor. The Certificate Administrator will have no duty or
liability for any failure hereunder to determine or prepare any Additional Form 10-D Disclosure (other than such Additional
Form 10-D Disclosure which is to be reported by it as set forth on Schedule IV) absent such reporting, direction and
approval after the date hereof. The Certificate Administrator shall include in any Form 10-D filed by it, without limitation,
to the extent such information is provided to the Certificate Administrator by the Depositor for inclusion therein,
(i) the information required by Rule 15Ga-1(a) under the Exchange Act concerning all assets of the Trust that
were subject of a demand to repurchase or replace for breach of the representations and warranties and (ii) a reference
to the most recent Form ABS-15G filed by the Depositor and each Mortgage Loan Seller, if applicable, and the Commission
assigned “Central Index Key” number for each such filer. The Certificate Administrator and the Depositor shall be
entitled together to determine the manner of the presentation of such information (including the dates as of which such
information is presented) in accordance with applicable laws and regulations.


 


For so long as the Trust is subject
to the reporting requirements of the Exchange Act and for so long as any Other Securitization that includes a Serviced Companion
Loan is subject to the reporting requirements of the Exchange Act, within five calendar days after the related Distribution Date,
(i) the parties listed on Schedule IV hereto shall be required to provide to the Certificate Administrator and the
Depositor (and in the case of any Servicing Function Participant with a copy to the Master Servicer) (and to any Other Trustee
or Other Depositor related to any Other Securitization that includes a Serviced Companion Loan), to the extent a


 



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Servicing Officer
or Responsible Officer, as the case may be, thereof has actual knowledge (other than Item 1117 of Regulation AB as to such party
which shall be reported if actually known by any Servicing Officer or Responsible Officer, as the case may be or any lawyer in
the in house legal department of such party), in EDGAR Compatible Format, or in such other format as otherwise agreed upon by the
Certificate Administrator and the Depositor (or such Other Trustee and Other Depositor) and such party, the form and substance
of the Additional Form 10-D Disclosure described on Schedule IV applicable to such party, (ii) the parties listed on
Schedule IV hereto shall include with such Additional Form 10-D Disclosure, an Additional Disclosure Notification in the
form attached hereto as Exhibit CC and (iii) the Certificate Administrator shall, at any time prior to filing
the related Form 10-D, provide prompt notice to the Depositor to the extent that the Certificate Administrator is notified of an
event reportable on Form 10-D for which it has not received the necessary Additional Form 10-D Disclosure from the applicable party.
No later than the 7th calendar day after the Distribution Date, the Depositor will approve, as to form and substance, or disapprove,
as the case may be, the inclusion of the Additional Form 10-D Disclosure on Form 10-D; provided that if the Certificate
Administrator does not receive a response from the Depositor by such time the Depositor will be deemed to have consented to the
inclusion of such Additional Form 10-D Disclosure. Other than to the extent provided for in clause (iii) above, the Certificate
Administrator has no duty under this Agreement to monitor or enforce the performance by the parties listed on Schedule IV
of their duties under this paragraph or proactively solicit or procure from such parties any Additional Form 10-D Disclosure information.
The Depositor will be responsible for any reasonable fees assessed and any expenses incurred by the Certificate Administrator in
connection with including any Additional Form 10-D Disclosure on Form 10-D pursuant to this paragraph.


 


After preparing the Form 10-D, the
Certificate Administrator shall forward electronically a copy of the Form 10-D to the Depositor for review and approval; provided
that the Certificate Administrator shall use its reasonable best efforts to provide such copy to the Depositor by the 8th day after
the Distribution Date. No later than the end of business on the 4th Business Day prior to the filing date, the Depositor shall
notify the Certificate Administrator in writing (which may be furnished electronically) of any changes to or approval of such Form
10-D, and no later than the 2nd Business Day prior to the filing, a duly authorized representative of the Depositor shall sign
the Form 10-D and return an electronic or fax copy of such signed Form 10-D (with an original executed hard copy to follow by overnight
mail) to the Certificate Administrator. The Certificate Administrator shall file such Form 10-D, upon signature thereof as provided
in Section 10.16, not later than (i) 5:30 p.m. (New York City time) on the 15th calendar day after the related
Distribution Date or (ii) if agreed to prior to the time set forth in clause (i) above, such other time as the Depositor
and the Certificate Administrator mutually agree is permitted by the Commission for the filing such Form 10-D. If a Form 10-D cannot
be filed on time or if a previously filed Form 10-D needs to be amended, the Certificate Administrator shall follow the procedures
set forth in Section 10.10(b). After filing with the Commission, the Certificate Administrator shall, pursuant to Section 4.02(b),
make available on the Certificate Administrator’s website a final executed copy of each Form 10-D prepared and filed by the
Certificate Administrator. The parties to this Agreement acknowledge that the performance by the Certificate Administrator of its
duties under this Section 10.05(c) related to the timely preparation and filing of Form 10-D is contingent upon such
parties (and any Additional Servicer or Servicing Function Participant) observing all applicable deadlines in the performance of
their duties under this Section 10.05(c). The Certificate Administrator shall have


 



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no liability for any loss, expense,
damage, claim arising out of or with respect to any failure to properly prepare or file such Form 10-D where such failure results
from the Certificate Administrator’s inability or failure to receive on a timely basis any information from any other party
hereto needed to prepare, arrange for execution or file such Form 10-D, not resulting from its own negligence, bad faith or willful
misconduct.


 


Form 10-D requires the registrant to
indicate (by checking “yes” or “no”) that it “(1) has filed all reports required to be filed by Section 13
or 15(d) of the Exchange Act during the preceding 12 months (or for such shorter period that the registrant was required to
file such reports) and (2) has been subject to such filing requirements for the past 90 days.” The Depositor shall notify
the Certificate Administrator in writing via email to cts.sec.notifications@wellsfargo.com, no later than the 5th calendar day
after the related Distribution Date during any year in which the Trust is required to file a Form 10-D if the answer to the questions
should be “no”; provided that if the failure of the Depositor to have filed such required reports arises in
connection with the securitization contemplated by this Agreement, then the Certificate Administrator shall be deemed to have notice
of such failure (only with respect to Exchange Act reports prepared or required to be prepared and filed by the Certificate Administrator)
without being notified by the Depositor; provided, further, that in connection with the delivery of any notice contemplated
by this sentence, the Depositor may instruct the Certificate Administrator that such notice shall be effective for a period (not
to exceed 12 months) from the date of such notice, in which case no further notice from the Depositor shall be required during
such specified period. The Certificate Administrator shall be entitled to rely on such notifications in preparing, executing and/or
filing any Form 10-D.


 


The Depositor hereby directs the Certificate
Administrator to include the following individual’s name and phone number on the cover of Form 10-D for each reporting period:
Name: Lainie Kaye, Telephone: (212) 504-6678. The Certificate Administrator may rely without further investigation that this information
remains correct unless and until the Depositor provides the Certificate Administrator with a new individual’s name and phone
number in writing.


 


Upon receipt of an Asset Review Report
Summary from the Asset Representations Reviewer required to be delivered pursuant to Section 11.01(b), the Certificate Administrator
shall include such Asset Review Report Summary under Item 1B on the Form 10-D for such reporting period in which the Asset Review
Report Summary was received by the Certificate Administrator.


 


To the extent the Certificate Administrator
receives a Communication Request from any Certificateholder or Certificate Owner to communicate with other Certificateholders or
Certificate Owners pursuant to Section 5.05, the Certificate Administrator shall include under Item 1B on the Form 10-D
relating to the reporting period in which such request was received a Special Notice regarding the request to communicate, and
such Special Notice is required to include the following and no more than the following: (a) the name of the Certificateholder
or Certificate Owner making the request, (b) the date the request was received, (c) a statement to the effect that the Certificate
Administrator has received such request, stating that such Certificateholder or Certificate Owner is interested in communicating
with other Certificateholders or Certificate Owners with regard to the possible exercise of rights under this Agreement, and (d)
a description of the method other Certificateholders or Certificate Owners


 



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may use to contact the requesting Certificateholder
or Certificate Owner. It is hereby understood that a disclosure in substantially the following form shall be deemed to satisfy
the requirements in the preceding sentence:


 


On [date], the Certificate Administrator received from
[name], a Certificateholder or Certificate Owner, a request to communicate with other Certificateholders and Certificate Owners
in the securitization transaction to which this report on Form 10-D relates (the “Securitization”). The requesting
Certificateholder or Certificate Owner is interested in communicating with other Certificateholders and Certificate Owners with
regard to the possible exercise of rights under the pooling and servicing agreement governing the Securitization. Other Certificateholders
and Certificate Owners may contact the requesting Certificateholder or Certificate Owner at [telephone number], [email address]
and/or [mailing address].


 


Section 10.07     Form
10-K Filings. Within 90 days after the end of each fiscal year of the Trust or such earlier date as may be required
by the Exchange Act (the “10-K Filing Deadline”) (it being understood that the fiscal year for the Trust
ends on December 31st of each year), commencing with fiscal year 2016, the Certificate Administrator shall prepare and
file on behalf of the Trust a Form 10-K, in form and substance as required by the Exchange Act. Each such Form 10-K shall
include the following items, in each case to the extent they have been delivered to the Certificate Administrator within the
applicable time frames set forth in this Agreement:


 


(i)          an annual compliance
statement for each applicable Certifying Servicer, as described under Section 10.11;


 


(ii)          (A) the
annual reports on assessment of compliance with servicing criteria for each applicable Reporting Servicer, as described under Section 10.12,
and (B) if any Reporting Servicer’s report on assessment of compliance with servicing criteria described under Section 10.12
identifies any material instance of noncompliance, disclosure identifying such instance of noncompliance (including whether such
instance of noncompliance involved the servicing of the assets backing the Certificates issued pursuant to this Agreement and any
steps taken to remedy such instance of noncompliance), or if any Reporting Servicer’s report on assessment of compliance
with servicing criteria described under Section 10.12 is not included as an exhibit to such Form 10-K, disclosure that
such report is not included and an explanation as to why such report is not included;


 


(iii)         (A) the
registered public accounting firm attestation report for each Reporting Servicer, as described under Section 10.13,
and (B) if any registered public accounting firm attestation report described under Section 10.13 identifies any
material instance of noncompliance, disclosure identifying such instance of noncompliance, or if any such registered public accounting
firm attestation report is not included as an exhibit to such Form 10-K, disclosure that such report is not included and an explanation
as to why such report is not included; and


 



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(iv)        a Sarbanes-Oxley
Certification as described in Section 10.08.


 


Any disclosure or information in addition
to (i) through (iv) above that is required to be included on Form 10-K (“Additional Form 10-K Disclosure”) shall,
pursuant to the paragraph immediately below, be reported by the parties set forth on Schedule V hereto to the Depositor
and the Certificate Administrator (and to any Other Depositor or Other Trustee related to any Other Securitization that includes
a Serviced Companion Loan) and approved by the Depositor (and such Other Depositor), and the Certificate Administrator (or such
Other Trustee) will have no duty or liability for any failure hereunder to determine or prepare any Additional Form 10-K Disclosure
(other than such Additional Form 10-K Disclosure which is to be reported by it as set forth on Schedule V) absent such reporting
and approval.


 


Not later than 10 Business Days after
the end of each fiscal year for which the Trust (or any Other Securitization that includes a Serviced Companion Loan) is required
to file a Form 10-K, the Master Servicer, the Special Servicer, the Operating Advisor, the Asset Representations Reviewer, the
Certificate Administrator and the Trustee shall provide the other parties to this Agreement and the Mortgage Loan Sellers (and
the parties to any Other Pooling and Servicing Agreement with respect to any Other Securitization that includes such Serviced Companion
Loan) with written notice of the name and address of each Servicing Function Participant retained by such party. Not later than
the end of each year for which the Trust is required to file a Form 10-K, (i) the Certificate Administrator shall upon request
provide to each Mortgage Loan Seller, Other Depositor and Other Trustee written notice of any change in the identity of any party
to this Agreement, including the name and address of any new party to this Agreement and (ii) the Master Servicer or the Special
Servicer, as applicable, shall provide to each related Mortgage Loan Seller written notice of any change in the identity of any
Sub-Servicer that is a Servicing Function Participant or an Additional Servicer engaged by the Master Servicer or the Special Servicer,
as applicable, including the name and address of any new Sub-Servicer that is a Servicing Function Participant or an Additional
Servicer.


 


With respect to any Other Securitization
that includes a Serviced Companion Loan, not later than the end of each year for which the Other Securitization trust is required
to file a Form 10-K, (i) the Certificate Administrator shall upon request provide to each mortgage loan seller with respect
to such Other Securitization written notice of any change in the identity of any party to this Agreement, including the name and
address of any new party to this Agreement and (ii) the Master Servicer or the Special Servicer, as applicable, shall provide
to each such mortgage loan seller written notice of any change in the identity of any Sub-Servicer that is a Servicing Function
Participant or an Additional Servicer engaged by the Master Servicer or the Special Servicer for the servicing of such Serviced
Whole Loan, as applicable, including the name and address of any new Sub-Servicer that is a Servicing Function Participant or an
Additional Servicer.


 


For so long as the Trust (or any Other
Securitization that includes a Serviced Companion Loan) is subject to the reporting requirements of the Exchange Act, by March 1st,
commencing in March 2017 (i) the parties listed on Schedule V hereto shall be required to provide to the Certificate
Administrator and the Depositor (and in the case of any Servicing Function Participant with a copy to the Master Servicer) (and
to any Other Depositor or Other Trustee related to any Other Securitization that includes a Serviced Companion Loan), to the extent
a Servicing Officer or a Responsible Officer, as the case may be, thereof has actual


 



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knowledge (other than with respect to Items
1117 and 1119 of Regulation AB as to such party which shall be reported if actually known by any Servicing Officer or any lawyer
in the in house legal department of such party), in EDGAR Compatible Format (to the extent available to such party in such format),
or in such other form as otherwise agreed upon by the Certificate Administrator and the Depositor (or such Other Trustee and Other
Depositor) and such party, the form and substance of the Additional Form 10-K Disclosure described on Schedule V applicable
to such party, (ii) include with such Additional Form 10-K Disclosure, an Additional Disclosure Notification in the form attached
hereto as Exhibit CC and (iii) the Certificate Administrator shall, at any time prior to filing the related Form
10-K, provide prompt notice to the Depositor to the extent that the Certificate Administrator is notified of an event reportable
on Form 10-K for which it has not received the necessary Additional Form 10-K Disclosure from the applicable party. No later than
March 10th, the Depositor will approve, as to form and substance, or disapprove, as the case may be, the inclusion of the
Additional Form 10-K Disclosure on Form 10-K; provided that if the Certificate Administrator does not receive a response
from the Depositor by such time the Depositor will be deemed to have consented to the inclusion of such Additional Form 10-K Disclosure.
Other than to the extent provided for in clause (iii) above, the Certificate Administrator has no duty under this Agreement
to monitor or enforce the performance by the parties listed on Schedule V of their duties under this paragraph or proactively
solicit or procure from such parties any Additional Form 10-K Disclosure information. The Depositor will be responsible for any
reasonable fees assessed and any expenses incurred by the Certificate Administrator in connection with including any Additional
Form 10-K Disclosure on Form 10-K pursuant to this paragraph.


 


After preparing the Form 10-K, on or
prior to the 6th Business Day prior to the 10-K Filing Deadline, the Certificate Administrator shall forward electronically a copy
of the Form 10-K to the Depositor for review and approval. Within three Business Days after receipt of such copy, but no later
than March 24th, the Depositor shall notify the Certificate Administrator in writing (which may be furnished electronically)
of any changes to or approved of such Form 10-K. No later than 5:00 p.m., New York City time, on the 4th Business Day prior
to the 10-K Filing Deadline, a senior officer in charge of securitization of the Depositor shall sign the Form 10-K and return
an electronic or fax copy of such signed Form 10-K (with an original executed hard copy to follow by overnight mail) to the Certificate
Administrator. The Certificate Administrator shall file such Form 10-K, upon signature thereof as provided in Section 10.16,
not later than (i) 5:30 p.m. (New York City time) on the 10-K Filing Deadline or (ii) such other time as the Depositor
and the Certificate Administrator mutually agree is permitted by the Commission for the filing such Form 10-K, of each year in
which a report on Form 10-K is required to be filed by the Trust. If a Form 10-K cannot be filed on time or if a previously filed
Form 10-K needs to be amended, the Certificate Administrator will follow the procedures set forth in Section 10.10(b).
After filing with the Commission, the Certificate Administrator shall, pursuant to Section 4.02(b), make available
on its internet website a final executed copy of each Form 10-K prepared and filed by the Certificate Administrator. The parties
to this Agreement acknowledge that the performance by the Certificate Administrator of its duties under this Section 10.07
related to the timely preparation and filing of Form 10-K is contingent upon such parties (and any Additional Servicer or Servicing
Function Participant) observing all applicable deadlines in the performance of their duties under this Article X. The
Certificate Administrator shall have no liability with respect to any failure to properly prepare or file such Form 10-K resulting
from the Certificate Administrator’s inability or failure to receive


 



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from any other party any information needed to prepare,
arrange for execution or file such Form 10-K on a timely basis, not resulting from its own negligence, bad faith or willful misconduct.


 


Form 10-K requires the registrant to
indicate (by checking “yes” or “no”) that it “(1) has filed all reports required to be filed by Section 13
or 15(d) of the Exchange Act during the preceding 12 months (or for such shorter period that the registrant was required to
file such reports) and (2) has been subject to such filing requirements for the past 90 days.” The Depositor shall notify
the Certificate Administrator in writing via email to cts.sec.notifications@wellsfargo.com, no later than the 15th calendar day
of March during any year in which the Trust is required to file a Form 10-K if the answer to the questions should be “no”;
provided that if the failure of the Depositor to have filed such required reports arises in connection with the securitization
contemplated by this Agreement, then the Certificate Administrator shall be deemed to have notice of such failure (only with respect
to Exchange Act reports prepared or required to be prepared and filed by the Certificate Administrator) without being notified
by the Depositor; provided, further, that in connection with the delivery of any notice contemplated by this sentence,
the Depositor may instruct the Certificate Administrator that such notice shall be effective for a period (not to exceed 12 months)
from the date of such notice, in which case no further notice from the Depositor shall be required during such specified period.
The Certificate Administrator shall be entitled to rely on such notifications in preparing, executing and/or filing any Form 10-K.


 


Section 10.08     Sarbanes-Oxley
Certification. Each Form 10-K shall include a certification (the “Sarbanes-Oxley Certification”), as
set forth in Exhibit W attached hereto, required to be included therewith pursuant to the Sarbanes-Oxley Act.
Each Reporting Servicer shall, and each Reporting Servicer shall use commercially reasonable efforts to cause each Servicing
Function Participant (other than (x) any party to this Agreement or (y) a Mortgage Loan Seller Sub-Servicer) with
which it has entered into a servicing relationship with respect to the Mortgage Loans (other than a Non-Serviced Mortgage
Loan), to provide to the Person who signs the Sarbanes-Oxley Certification for the Trust or any Other Securitization that
includes a Serviced Companion Loan (the “Certifying Person”), by March 1st of each year (commencing
in 2017) in which the Trust is subject to the reporting requirements of the Exchange Act and of each year in which any Other
Securitization that includes a Serviced Companion Loan is subject to the reporting requirements of the Exchange Act, a
certification (each, a “Performance Certification”), in the form attached hereto as Exhibit O, Exhibit P, Exhibit Q, Exhibit R, Exhibit T, Exhibit
U or Exhibit V, as applicable, upon which the Certifying Person, the entity for which the Certifying Person
acts as an officer, and such entity’s officers, directors and Affiliates (collectively with the Certifying
Person, “Certification Parties”) can reasonably rely. The senior officer in charge of securitization of
the Depositor shall serve as the Certifying Person on behalf of the Trust. The Certifying Person at the Depositor can be
contacted at Deutsche Mortgage & Asset Receiving Corporation at 60 Wall Street, New York, New York 10005, Attention:
Lainie Kaye, with a copy to Salvatore Palazzolo, Esq. If any Reporting Servicer is terminated or resigns pursuant to the
terms of this Agreement, or any applicable Sub-Servicing Agreement, such Reporting Servicer shall provide a Performance
Certification to the Certifying Person pursuant to this Section 10.08 with respect to the period of time it was
subject to this Agreement or the applicable Sub-Servicing Agreement. Notwithstanding the foregoing, the Trustee shall not be
required to deliver a Performance Certification with respect to any period during which there was no Relevant Servicing
Criteria applicable to it.


 






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Notwithstanding the foregoing, nothing
in this Section 10.08 shall require any Reporting Servicer (i) to certify or verify the accurateness or completeness
of any information provided to such Reporting Servicer by third parties (other than a Sub-Servicer, Additional Servicer or any
other third party retained by it that is not a Sub-Servicer listed on Exhibit X or a Sub-Servicer appointed pursuant
to Section 3.01(c)), (ii) to certify information other than to such Reporting Servicer’s knowledge and in
accordance with such Reporting Servicer’s responsibilities hereunder or (iii) with respect to completeness of information
and reports, to certify anything other than that all fields of information called for in written reports prepared by such Reporting
Servicer have been completed except as they have been left blank on their face.


 


Each Performance Certification shall
include a reasonable reliance provision enabling the Certification Parties to rely upon each (i) annual compliance statement
provided pursuant to Section 10.11, (ii) annual report on assessment of compliance with servicing criteria provided
pursuant to Section 10.12 and (iii) registered public accounting firm attestation report provided pursuant to
Section 10.13.


 


For so long as the Trust is subject
to the reporting obligations of the Exchange Act, with respect to any Non-Serviced Mortgage Loan serviced under an Other Pooling
and Servicing Agreement, the Certificate Administrator shall use commercially reasonable efforts to procure a Sarbanes-Oxley back-up
certification from the Non-Serviced Mortgage Loan Service Providers, in form and substance similar to a Performance Certification
or to the form, if any, provided in the Other Pooling and Servicing Agreement. The Master Servicer shall promptly forward to the
Certificate Administrator and the Depositor any such Sarbanes-Oxley back-up certification received by the Master Servicer.


 


Section 10.09     Form
8-K Filings. Within four (4) Business Days after the occurrence of an event requiring disclosure (the “8-K
Filing Deadline”) under Form 8-K (each a “Reportable Event”), to the extent it receives the Form
8-K Disclosure Information described below, the Certificate Administrator shall, at the direction of the Depositor, prepare
and file on behalf of the Trust any Form 8-K, as required by the Exchange Act and shall provide notice thereof to
Form10K.Compliance@cwt.com, provided that the Depositor shall file the initial Form 8-K in connection with the
issuance of the Certificates. Any disclosure or information related to a Reportable Event or that is otherwise required to be
included on Form 8-K (“Form 8-K Disclosure Information”) shall, pursuant to the paragraph immediately
below, be reported by the parties set forth on Schedule VI to which such Reportable Event relates and such Form 8-K
Disclosure Information shall be delivered to the Depositor and the Certificate Administrator (and to any Other Depositor and
Other Trustee related to any Other Securitization that includes a Serviced Companion Loan) in EDGAR Compatible Format and
approved by the Depositor. The Certificate Administrator will have no duty or liability for any failure hereunder to
determine or prepare any Form 8-K Disclosure Information (other than such Form 8-K Disclosure Information which is to be
reported by it as set forth on Schedule VI) absent such reporting and approval.


 


For so long as the Trust (or any Other
Securitization that includes a Serviced Companion Loan) is subject to the reporting requirements of the Exchange Act, the parties
listed on Schedule VI hereto shall, to the extent a Servicing Officer or a Responsible Officer, as the case may be,
thereof has actual knowledge, use their commercially reasonable efforts to provide to the Depositor and the Certificate Administrator
(and to any Other Depositor and Other Trustee


 






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related to any Other Securitization that includes a Serviced Companion Loan) within
1 Business Day after the occurrence of the Reportable Event, but shall provide in no event later than the end of business (New
York City time) on the 2nd Business Day after the occurrence of the Reportable Event, the form and substance of the Form 8-K
Disclosure Information described on Schedule VI as applicable to such party, in EDGAR Compatible Format, or in such other
format as otherwise agreed to in advance by the Certificate Administrator and the Depositor (and such Other Trustee and Other Depositor)
and such party and accompanied by an Additional Disclosure Notification in the form attached hereto as Exhibit CC.
The Depositor will approve, as to form and substance, or disapprove, as the case may be, the inclusion of the Form 8-K Disclosure
Information on Form 8-K by the end of business on the 2nd Business Day after the Reportable Event; provided that if the
Certificate Administrator does not receive a response from the Depositor by such time as required under this Agreement the Depositor
will be deemed to have consented to such Form 8-K Disclosure Information. The Certificate Administrator has no duty under this
Agreement to monitor or enforce the performance by the parties listed on Schedule VI of their duties under this paragraph
or proactively solicit or procure from such parties any Form 8-K Disclosure Information; provided that to the extent that
the Certificate Administrator is notified of such Reportable Event and it does not receive the necessary Form 8-K Disclosure
Information, it shall notify the Depositor that it has not received such information and, provided, further, that
the limitation on liability provided by this sentence shall not be applicable if the Reportable Event relates to the Certificate
Administrator or any party that the Certificate Administrator has engaged to perform its obligations under this Agreement. The
Depositor will be responsible for any reasonable fees assessed and any expenses incurred by the Certificate Administrator in connection
with including any Form 8-K Disclosure Information on Form 8-K pursuant to this paragraph.


 


After preparing the Form 8-K, the Certificate
Administrator shall, no later than the end of the Business Day (New York City time) on the 3rd Business Day after the Reportable
Event, forward electronically a copy of the Form 8-K to the Depositor for review and approval and the Depositor shall promptly
notify the Certificate Administrator in writing (which may be furnished electronically) of any changes to the Form 8-K. No later
than noon on the 4th Business Day (New York City time) after the Reportable Event, a duly authorized representative of the Depositor
shall sign the Form 8-K and return an electronic or fax copy of such signed Form 8-K (with an original executed hard copy to follow
by overnight mail) to the Certificate Administrator. The Certificate Administrator shall file such Form 8-K, upon signature thereof
as provided in Section 10.16, not later than (i) 5:30 p.m. (New York City time) on the 4th Business Day following
the reportable event or (ii) such other time as the Depositor and the Certificate Administrator mutually agree is permitted
by the Commission for the filing such Form 8-K. If a Form 8-K cannot be filed on time or if a previously filed Form 8-K needs to
be amended, the Certificate Administrator will follow the procedures set forth in Section 10.10(b). After filing with
the Commission, the Certificate Administrator will, pursuant to Section 4.02(b), make available on its internet website
a final executed copy of each Form 8-K prepared and filed by the Certificate Administrator. The parties to this Agreement acknowledge
that the performance by the Certificate Administrator of its duties under this Section 10.09 related to the timely
preparation and filing of Form 8-K is contingent upon such parties observing all applicable deadlines in the performance of their
duties under this Section 10.09. The Certificate Administrator shall have no liability for any loss, expense, damage,
claim arising out of or with


 






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respect to any failure to properly
prepare, arrange for execution and/or timely file such Form 8-K, where such failure results from the Certificate Administrator’s
inability or failure to receive approved Form 8-K Disclosure Information within the applicable timeframes set forth in this Section 10.09
and not resulting from the Certificate Administrator’s own negligence, bad faith or willful misconduct (provided that
to the extent that the Certificate Administrator is notified of such Reportable Event and it does not receive the necessary Form
8–K Disclosure Information, it will notify the Depositor that it has not received such information and further provided
that the limitation on liability provided by this sentence shall not be applicable if the Reportable Event relates to the
Certificate Administrator or any party that the Certificate Administrator has engaged to perform its obligations under this Agreement). 





In addition to the
foregoing, as to any resignation, removal, succession, merger or consolidation of the Master Servicer or the Special Servicer that
would constitute a Reportable Event, upon at least 4 Business Days prior notice of the anticipated effective date of such event,
the Certificate Administrator and the Depositor shall cooperate with the Master Servicer or the Special Servicer, as applicable,
and any applicable successor to effect the Depositor’s or the Certificate Administrator’s filing of any related required
Form 8-K relating to this Trust on the proposed effective date of such event.







 


For so long as the Trust is subject
to the reporting obligations of the Exchange Act, with respect to any Non-Serviced Mortgage Loan serviced under an Other Pooling
and Servicing Agreement, no resignation, removal or replacement of any party to such Other Pooling and Servicing Agreement that
would be required to be reported on a Form 8-K relating to this Trust shall become effective until the Certificate Administrator
shall have filed any required Form 8-K pursuant to this Section 10.09.


 


Section 10.10     Suspension
of Exchange Act Filings; Incomplete Exchange Act Filings; Amendments to Exchange Act Reports. (a) If at any time the
Trust is permitted to suspend its reporting obligations under the Exchange Act, on or before January 30 of the first
year in which the Certificate Administrator is able to do so under applicable law, the Depositor shall direct the Certificate
Administrator to prepare and file any form necessary to be filed with the Commission to suspend such reporting obligations.
With respect to any reporting period occurring after the filing of such form, except with respect to the Other
Securitization, the obligations of the parties to this Agreement under Section 10.01, Section 10.03, (c), Section 10.07, Section 10.08
and Section 10.09 shall be suspended. The Certificate Administrator shall provide prompt notice to the Depositor,
the Master Servicer, the Special Servicer, the Trustee, the Operating Advisor, the Asset Representations Reviewer and the
Mortgage Loan Sellers that such form has been filed.


 


(b)     If the Certificate Administrator
is unable to timely file with the Commission all or any required portion of any Form 8-K, Form 10-D or Form 10-K required to be
filed by this Agreement because required disclosure information either was not delivered to it or was delivered to it after the
delivery deadlines set forth in this Agreement or for any other reason, the Certificate Administrator shall promptly notify (which
notice (which may be sent by fax or by email notwithstanding the provisions of Section 12.04) shall include the identity
of those Reporting Servicers who either did not deliver such information or delivered such information to it after the delivery
deadlines set forth in this Agreement) the Depositor and each Reporting Servicer that failed to make such delivery. In the case
of Form 10-D and Form 10-K, each such Reporting Servicer shall cooperate with the Depositor and the Certificate Administrator to
prepare and file a Form 12b-25 and a Form 10-D/A and Form 10-K/A as applicable, pursuant to Rule 12b-25 of the Exchange Act.
In the case of Form 8-K, the Certificate Administrator shall, upon receipt of all required Form 8-K Disclosure Information and
upon the approval and direction of the Depositor, include such disclosure information on the next Form 10-D that is required to
be filed on behalf of the Trust. In the event that any previously filed Form 8-K, Form 10-D or Form 10-K needs to be amended, the
Certificate


 






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Administrator shall notify the Depositor and such other parties as needed and such parties shall cooperate to prepare
any necessary Form 8-K/A, Form 10-D/A or Form 10-K/A. In the event that any Reporting Servicer receives notice from the applicable
parties to the Other Securitization that any previously filed Form 8-K, Form 10-D or Form 10-K needs to be amended, such party
shall cooperate in preparation of any necessary Form 8-K/A, Form 10-D/A or Form 10-K/A. Any Form 12b-25 or any amendment to Form
8-K, Form 10-D or Form 10-K shall be signed by the Depositor. The parties to this agreement acknowledge that the performance by
the Certificate Administrator of its duties under this Section 10.10 related to the timely preparation and filing of
a Form 12b-25 or any amendment to Form 8-K, 10-D or 10-K is contingent upon the Master Servicer, the Special Servicer and the Depositor
performing their duties under this Section. The Certificate Administrator shall have no liability for any loss, expense, damage,
claim arising out of or with respect to any failure to properly prepare and/or timely file any such Form 12b-25 or any amendments
to Forms 8-K, Form 10-D or Form 10-K, where such failure results from the Certificate Administrator’s inability or failure
to receive, on a timely basis, any information from any other party hereto needed to prepare, arrange for execution or file such
Form 12b-25 or any amendments to Form 8-K, Form 10-D or Form 10-K, not resulting from its own negligence, bad faith or willful
misconduct.


 


Section 10.11     Annual
Compliance Statements. (a) The Master Servicer, the Special Servicer, the Custodian, the Certificate Administrator, any
Additional Servicer and each Servicing Function Participant (if such Servicing Function Participant is a servicer
contemplated by Item 1108(a)(2)(i), (ii) or (iii) of Regulation AB) (each, a “Certifying
Servicer”) shall, and the Master Servicer, the Special Servicer, the Custodian and the Certificate Administrator
shall use commercially reasonable efforts to cause each Additional Servicer and each Servicing Function Participant (if such
Servicing Function Participant is a servicer contemplated by Item 1108(a)(2)(i), (ii) or (iii) of Regulation AB)
(other than (x) any party to this Agreement or (y) a Mortgage Loan Seller Sub-Servicer) with which it has entered
into a servicing relationship with respect to the Mortgage Loans (other than a Non-Serviced Mortgage Loan), to deliver to the
Trustee, the Depositor, the Certificate Administrator, the Operating Advisor (in the case of the Special Servicer only), the
Other Trustee, the Other Depositor and the 17g-5 Information Provider (who shall promptly post such report to the 17g-5
Information Provider’s Website pursuant to Section 3.14(d) of this Agreement) on or before March 1st
of each year, commencing in 2017, an Officer’s Certificate stating, as to the signer thereof, that (A) a review of
such Certifying Servicer’s activities during a reporting period consisting of the preceding calendar year or portion
thereof and of such Certifying Servicer’s performance under this Agreement, or the applicable sub-servicing agreement
or primary servicing agreement in the case of an Additional Servicer, has been made under such officer’s
supervision and (B) that, to the best of such officer’s knowledge, based on such review, such Certifying Servicer
has fulfilled all its obligations under this Agreement, or the applicable sub-servicing agreement or primary servicing
agreement in the case of an Additional Servicer, in all material respects throughout such reporting period, or, if there has
been a failure to fulfill any such obligation in any material respect, specifying each such failure known to such officer and
the nature and status thereof.


 


(b)     With respect to any Non-Serviced
Mortgage Loan serviced under an Other Pooling and Servicing Agreement, the Certificate Administrator shall use commercially reasonable
efforts to procure an Officer’s Certificate as described in this Section from the Non-


 






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Serviced Mortgage Loan Service
Providers in form and substance similar to the Officer’s Certificate described in this Section.


 


(c)     Promptly after receipt of each
such Officer’s Certificate, the Depositor (and each Other Depositor for any Other Securitization that includes a Serviced
Companion Loan) shall have the right to review such Officer’s Certificate and, if applicable, consult with each Certifying
Servicer, as applicable, as to the nature of any failures by such Certifying Servicer, in the fulfillment of any of the Certifying
Servicer’s obligations hereunder or under the applicable sub-servicing agreement. None of the Certifying Servicers or any
Additional Servicer or any Servicing Function Participant shall be required to deliver, or to endeavor to cause the delivery of,
any such Officer’s Certificate until April 15, in any given year so long as it has received written confirmation from
the Depositor that a Form 10-K is not required to be filed in respect of the Trust or any Other Securitization that includes a
Serviced Companion Loan for the preceding calendar year. If any Certifying Servicer is terminated or resigns pursuant to the terms
of this Agreement or any applicable Sub-Servicing Agreement, as the case may be, such Certifying Servicer shall provide the Officer’s
Certificate pursuant to this Section 10.11 with respect to the period of time it was subject to this Agreement or the
applicable Sub-Servicing Agreement, as the case may be.


 


Section 10.12     Annual
Reports on Assessment of Compliance with Servicing Criteria. By March 1st of each year, commencing in March 2017,
the Master Servicer, the Special Servicer (regardless of whether the Special Servicer has commenced special servicing of any Mortgage
Loan), the Certificate Administrator, the Custodian, the Trustee (only with respect to any period during which any Relevant Servicing
Criteria was applicable to it), the Operating Advisor and each Servicing Function Participant (each, a “Reporting Servicer”),
each at its own expense, shall furnish (and each Reporting Servicer, as applicable, shall use commercially reasonable efforts
to cause, by March 1st each Servicing Function Participant (other than (x) a party to this Agreement or (y) a Mortgage
Loan Seller Sub-Servicer), with which it has entered into a servicing relationship with respect to the Mortgage Loans (other than
a Non-Serviced Mortgage Loan) to furnish, each at its own expense, to the Trustee, the Certificate Administrator, the Depositor
(and to the Other Depositor and Other Trustee for any Other Securitization that includes a Serviced Companion Loan) and the 17g-5
Information Provider (who shall promptly post such report to the 17g-5 Information Provider’s Website pursuant to Section 3.16(d) of
this Agreement) in an EDGAR Compatible Format, or in such other format as otherwise agreed upon by the Certificate Administrator
and the Depositor (or such Other Trustee and Other Depositor, as applicable) a report on an assessment of compliance with the
Relevant Servicing Criteria with respect to commercial mortgage backed securities transactions taken as a whole involving such
party that contains (A) a statement by such Reporting Servicer of its responsibility for assessing compliance with the Relevant
Servicing Criteria, (B) a statement that such Reporting Servicer used the Servicing Criteria to assess compliance with the
Relevant Servicing Criteria, (C) such Reporting Servicer’s assessment of compliance with the Relevant Servicing Criteria
as of and for the period ending the end of the fiscal year covered by the Form 10-K required to be filed pursuant to Section 10.07,
including, if there has been any material instance of noncompliance with the Relevant Servicing Criteria, a discussion of each
such failure and the nature and status thereof, and (D) a statement that a registered public accounting firm has issued an
attestation report on such Reporting Servicer’s assessment of compliance with the Relevant Servicing Criteria as of and
for such period. Copies of all compliance reports delivered pursuant to this 


 






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Section 10.12 shall be
made available to any Privileged Person by the Certificate Administrator pursuant to Section 4.02(c) of this Agreement
and to any Rating Agency and NRSRO by the 17g-5 Information Provider pursuant to Section 3.16(d)of this Agreement.


 


No later than 10 Business Days after
the end of each fiscal year for the Trust (and any Other Securitization that includes a Serviced Companion Loan) for which a Form
10-K is required to be filed, the Master Servicer, the Special Servicer and the Operating Advisor shall each forward to the Certificate
Administrator and the Depositor (and to the Other Depositor and Other Trustee for any Other Securitization that includes a Serviced
Companion Loan) the name and contact information of each Servicing Function Participant engaged by it during such year or portion
thereof (except with respect to any Mortgage Loan Seller Sub-Servicer) and what Relevant Servicing Criteria will be addressed in
the report on assessment of compliance prepared by such Servicing Function Participant. When the Master Servicer, the Special Servicer,
the Certificate Administrator, the Custodian, the Trustee, the Operating Advisor and each Servicing Function Participant submit
their respective assessments by March 1st, as applicable, to the Certificate Administrator (and such other trustee), each
such party shall also at such time, if it has received the assessment (and attestation pursuant to Section 10.13) of
each Servicing Function Participant engaged by it, include such assessment (and attestation) in its submission to the Certificate
Administrator (and such other trustee).


 


Promptly after receipt of each such
report on assessment of compliance, (i) the Depositor (and any Other Depositor for any Other Securitization that includes
a Serviced Companion Loan) shall have the right to review each such report and, if applicable, consult with the Master Servicer,
the Special Servicer, the Certificate Administrator, the Custodian, the Trustee, the Operating Advisor and any Servicing Function
Participant as to the nature of any material instance of noncompliance with the Relevant Servicing Criteria by the Master Servicer,
the Special Servicer, the Operating Advisor, the Certificate Administrator, the Custodian, the Trustee or any Servicing Function
Participant, and (ii) the Certificate Administrator shall confirm that the assessments, taken individually, address the Relevant
Servicing Criteria for each party as set forth on Schedule II and notify the Depositor (and the Other Depositor for any Other Securitization
that includes a Serviced Companion Loan) of any exceptions; provided that the Certificate Administrator shall not be responsible
for confirming whether any such party has certified to all the Relevant Servicing Criteria applicable to it. None of the Master
Servicer, the Special Servicer, the Certificate Administrator, the Custodian, the Trustee, the Operating Advisor or any Servicing
Function Participant shall be required to deliver, or to endeavor to cause the delivery of, any such reports until April 15
in any given year so long as it has received written confirmation from the Depositor (and the Other Depositor for any Other Securitization
that includes a Serviced Companion Loan) that a Form 10-K is not required to be filed in respect of the Trust (or, in the case
of a Serviced Companion Loan, the related Other Securitization that includes such Serviced Companion Loan) for the preceding calendar
year. If any Reporting Servicer is terminated or resigns pursuant to the terms of this Agreement, or any applicable Sub-Servicing
Agreement, as the case may be, such Reporting Servicer shall provide the reports and statements pursuant to this Section 10.12
with respect to the period of time it was subject to this Agreement or the applicable Sub-Servicing Agreement, as the case may
be.


 


The parties hereto acknowledge that
a material instance of noncompliance with the Relevant Servicing Criteria reported on an assessment of compliance pursuant to this



 






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Section 10.12 by the Master Servicer or the Special Servicer, the Certificate Administrator, the Trustee, the Operating
Advisor or the Custodian shall not, as a result of being so reported, in and of itself, constitute a breach of such parties’
obligations or a Servicer Termination Event or Operating Advisor Termination Event, as applicable, under this Agreement unless
otherwise provided for in this Agreement.


 


For so long as the Trust is subject
to the reporting requirements of the Exchange Act, with respect to any Non-Serviced Mortgage Loan serviced under an Other Pooling
and Servicing Agreement, the Certificate Administrator shall use commercially reasonable efforts to procure an annual report on
assessment of compliance as described in this Section and an attestation as described in Section 10.13 from the
Non-Serviced Mortgage Loan Service Providers in form and substance similar to the annual report on assessment of compliance described
in this Section (or in such Other Pooling and Servicing Agreement, as the case may be) and the attestation described in Section 10.13.
The Master Servicer shall promptly forward to the Certificate Administrator and the Depositor any such assessment of compliance
received by the Master Servicer. Until such time as the Certificate Administrator receives notice that the Non-Serviced Mortgage
Loan Service Providers no longer have a continuing obligation under the Other Pooling and Servicing Agreement related to an Other
Securitization that includes the related Non-Serviced Companion Loan to provide to the Trust an annual report on assessment of
compliance as described in this Section and an attestation as described in Section 10.13 for any year that the
Trust formed under this Agreement is not subject to the reporting requirements of the Exchange Act, the Certificate Administrator
shall notify the Non-Serviced Mortgage Loan Service Providers if such parties fail to deliver to the Certificate Administrator
such assessment of compliance and attestation within the time frame required by such Other Pooling and Servicing Agreement.


 


Section 10.13     Annual
Independent Public Accountants’ Servicing Report. By March 1st, of each year, commencing in
March 2017, each Reporting Servicer, each at its own expense, shall cause, and each Reporting Servicer, as applicable,
shall use commercially reasonable efforts to cause each Servicing Function Participant (other than (x) a party to this
Agreement or (y) a Mortgage Loan Seller Sub-Servicer) with which it has entered into a servicing relationship with
respect to the Mortgage Loans (other than a Non-Serviced Mortgage Loan), each at such Servicing Function Participant’s
own expense, a registered public accounting firm (which may also render other services to the Master Servicer, the Special
Servicer, the Operating Advisor and such Servicing Function Participant, as the case may be) and that is a member of the
American Institute of Certified Public Accountants to furnish a report to the Trustee, the Certificate Administrator, the
Depositor (and to any Other Depositor and Other Trustee for any Other Securitization that includes a Serviced Companion
Loan), the Operating Advisor (in the case of the Special Servicer only) and the 17g-5 Information Provider (who shall
promptly post such report to the 17g-5 Information Provider’s Website pursuant to Section 3.16(d) of this
Agreement) to the effect that (i) it has obtained a representation regarding certain matters from the management of such
Reporting Servicer, which includes an assessment from such Reporting Servicer of its compliance with the Relevant
Servicing Criteria in all material respects, and (ii) on the basis of an examination conducted by such firm in
accordance with standards for attestation engagements issued or adopted by the PCAOB, it is expressing an opinion as to
whether such Reporting Servicer’s compliance with the Relevant Servicing Criteria was fairly stated in all material
respects, or it cannot express an overall opinion regarding such


 






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Reporting Servicer’s assessment of compliance with the Relevant Servicing Criteria. If an overall opinion
cannot be expressed, such registered public accounting firm shall state in such report why it was unable to express such an opinion.
Such report must be available for general use and not contain restricted use language. Notwithstanding the foregoing, the Trustee
shall not be required to deliver an annual independent public accountants’ servicing report with respect to any period during
which there was no Relevant Servicing Criteria applicable to it.


 


Promptly after receipt of such report
from each Reporting Servicer, (i) the Depositor (and any Other Depositor related to an Other Securitization that includes
a Serviced Companion Loan) shall have the right to review the report and, if applicable, consult with the related Reporting Servicer
as to the nature of any material instance of noncompliance by such Reporting Servicer with the Servicing Criteria applicable to
such person, as the case may be, in the fulfillment of any of such Reporting Servicer’s obligations hereunder or under any
applicable sub-servicing agreement or primary servicing agreement, and (ii) the Certificate Administrator shall confirm that
each assessment submitted pursuant to Section 10.12 is coupled with an attestation meeting the requirements of this
Section and notify the Depositor (and any Other Depositor related to an Other Securitization that includes a Serviced Companion
Loan) of any exceptions; provided, that the Certificate Administrator shall not be responsible for confirming whether any particular
Reporting Servicer has certified to all of the Relevant Servicing Criteria applicable to it. No Reporting Servicer shall be required
to deliver, or to endeavor to cause the delivery of, such reports until April 15 in any given year so long as it has received
written confirmation from the Depositor that a Form 10-K is not required to be filed in respect of the Trust (or, in the case
of a Serviced Companion Loan, the related Other Securitization that includes such Serviced Companion Loan) for the preceding calendar
year. If any Reporting Servicer is terminated or resigns pursuant to the terms of this Agreement, or any applicable Sub-Servicing
Agreement or primary servicing agreement, as the case may be, such Reporting Servicer shall provide the report pursuant to this
Section 10.13 with respect to the period of time it was subject to this Agreement or the applicable Sub-Servicing
Agreement or primary servicing agreement, as the case may be.


 


Section 10.14     Exchange
Act Reporting Indemnification. Each of the Master Servicer, the Special Servicer, the Operating Advisor, the Asset Representations
Reviewer, the Custodian (if not the Certificate Administrator), the Certificate Administrator and the Trustee shall indemnify
and hold harmless each Certification Party, the Depositor (and any Other Depositor related to an Other Securitization that includes
a Serviced Companion Loan), their respective directors and officers, and each other person who controls any such entity within
the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, against any and all expenses,
losses, claims, damages and other liabilities, including without limitation the costs of investigation, legal defense and any
amounts paid in settlement of any claim or litigation arising out of (i) the failure to perform its obligations to the Depositor
(or any Other Depositor related to an Other Securitization that includes a Serviced Companion Loan) or Certificate Administrator
(or any Other Trustee related to an Other Securitization that includes a Serviced Companion Loan) under this Article X
by the time required after giving effect to any applicable grace period or cure period, (ii) any untrue statement or alleged
untrue statement of a material fact contained in any information (x) regarding such party or any Servicing Function Participant,
Additional Servicer or subcontractor engaged by it (other than any Mortgage Loan Seller Sub-Servicer), (y) prepared by any such
party described in clause (x) or any registered


 






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public accounting firm, attorney or other agent retained by such party to prepare
such information and (z) delivered by or on behalf of such party in connection with the performance of such party’s obligations
described in this Article X, or the omission or alleged omission to state in any such information a material fact necessary
to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided, that the
applicable party shall be entitled to participate in any action arising out of the foregoing and the Depositor shall consult with
such party with respect to any litigation or audit strategy, as applicable, in connection with the foregoing and any potential
settlement terms related thereto, (iii) the failure of any Servicing Function Participant or Additional Servicer retained
by it (other than a Mortgage Loan Seller Sub-Servicer) to perform its obligations to the Depositor (or any Other Depositor related
to an Other Securitization that includes a Serviced Companion Loan) or Certificate Administrator (or any Other Trustee related
to an Other Securitization that includes a Serviced Companion Loan) under this Article X by the time required after
giving effect to any applicable grace period and cure period or (iv) any Deficient Exchange Act Deliverable.


 


In addition, each of the Master Servicer,
the Special Servicer, the Operating Advisor, the Asset Representations Reviewer, the Custodian, the Certificate Administrator and
the Trustee shall cooperate (and require each Servicing Function Participant and Additional Servicer retained by it to cooperate
under the applicable Sub-Servicing Agreement) with the Depositor as necessary for the Depositor to conduct any reasonable due diligence
necessary to evaluate and assess any material instances of non-compliance disclosed in any of the deliverables required by the
applicable reporting requirements under the Securities Act, the Exchange Act, the Sarbanes-Oxley Act and the rules and regulations
promulgated thereunder (“Reporting Requirements”).


 


In connection with comments provided
to the Depositor from the Commission regarding information (x) delivered by the Master Servicer, the Special Servicer, the Operating
Advisor, the Asset Representations Reviewer, the Custodian, the Certificate Administrator, the Trustee, a Servicing Function Participant
or an Additional Servicer, as applicable (“Affected Reporting Party”), (y) regarding such Affected Reporting
Party, and (z) prepared by such Affected Reporting Party or any registered public accounting firm, attorney or other agent retained
by such party to prepare such information, which information is contained in a report filed by the Depositor under the Reporting
Requirements and which comments are received subsequent to the Depositor’s filing of such report, the Depositor shall promptly
provide to such Affected Reporting Party any such comments which relate to such Affected Reporting Party. Such Affected Reporting
Party shall be responsible for timely preparing a written response to the Commission for inclusion in the Depositor’s response
to the Commission, unless such Affected Reporting Party elects, with the consent of the Depositor (which consent shall not be unreasonably
denied, withheld or delayed), to directly communicate with the Commission and negotiate a response and/or resolution with the Commission;
provided, however, if an Affected Reporting Party is a Servicing Function Participant or Additional Servicer retained by
the Master Servicer, the Master Servicer shall receive copies of all material communications pursuant to this Section 10.14.
If such election is made, the applicable Affected Reporting Party shall be responsible for directly negotiating such response and/or
resolution with the Commission in a timely manner; provided, that (i) such Affected Reporting Party shall use reasonable efforts
to keep the Depositor informed of its progress with the Commission and copy the Depositor on all correspondence with the Commission
and provide the Depositor with the opportunity to


 






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participate (at the Depositor’s expense) in any telephone conferences and
meetings with the Commission and (ii) the Depositor shall cooperate with any Affected Reporting Party in order to authorize such
Affected Reporting Party and its representatives to respond to and negotiate directly with the Commission with respect to any comments
from the Commission relating to such Affected Reporting Party and to notify the Commission of such authorization. The Depositor
and the Affected Reporting Party shall cooperate and coordinate with one another with respect to any requests made to the Commission
for extension of time for submitting a response or compliance. All respective reasonable out-of-pocket costs and expenses incurred
by the Depositor (including reasonable legal fees and expenses of outside counsel to the Depositor) in connection with the foregoing
(other than those costs and expenses required to be at the Depositor’s expense as set forth above) and any amendments to
any reports filed with the Commission related thereto shall be promptly paid by the applicable Affected Reporting Party upon receipt
of an itemized invoice from the Depositor. Each of the Master Servicer, the Special Servicer, the Operating Advisor, the Asset
Representations Reviewer, the Custodian, the Certificate Administrator and the Trustee shall use commercially reasonable efforts
to cause any Servicing Function Participant or Additional Servicer retained by it to comply with the foregoing by inclusion of
similar provisions in the related sub-servicing or similar agreement.


 


The Master Servicer, the Special Servicer,
the Operating Advisor, the Asset Representations Reviewer, the Certificate Administrator and the Trustee shall use commercially
reasonable efforts to cause each Servicing Function Participant (other than (x) any party to this Agreement or (y) a
Mortgage Loan Seller Sub-Servicer) with which it has entered into a servicing relationship with respect to the Mortgage Loans (other
than a Non-Serviced Mortgage Loan) to indemnify and hold harmless each Certification Party from and against any losses, damages,
penalties, fines, forfeitures, legal fees and expenses and related costs, judgments and other costs and expenses incurred by such
Certification Party arising out of (i) a breach of its obligations to provide any of the annual compliance statements or annual
assessment of servicing criteria or attestation reports pursuant to this Agreement, or the applicable Sub-Servicing Agreement,
as applicable or (ii) any Deficient Exchange Act Deliverable.


 


If the indemnification provided for
herein is unavailable or insufficient to hold harmless any Certification Party, then the Master Servicer, the Special Servicer,
the Operating Advisor, the Asset Representations Reviewer, the Certificate Administrator, the Trustee, each Additional Servicer
or other Servicing Function Participant (the “Performing Party”) shall, and the Master Servicer, the Special
Servicer, the Operating Advisor, the Asset Representations Reviewer, the Certificate Administrator and the Trustee shall use commercially
reasonable efforts to cause each Servicing Function Participant with which it has entered into a servicing relationship (other
than (x) a party to this Agreement or (y) any Mortgage Loan Seller Sub-Servicer) with respect to the Mortgage Loans (other
than a Non-Serviced Mortgage Loan) to contribute to the amount paid or payable to the Certification Party as a result of the losses,
claims, damages or liabilities of the Certification Party in such proportion as is appropriate to reflect the relative fault of
the Certification Party on the one hand and the Performing Party on the other in connection with a breach of the Performing Party’s
obligations pursuant to this Article X. The Master Servicer, the Special Servicer, the Operating Advisor, the Asset
Representations Reviewer, the Certificate Administrator and the Trustee shall use commercially reasonable efforts to cause each
Servicing Function Participant (other than (x) any party to this Agreement or (y) Mortgage Loan Seller Sub-Servicers)
with which it has entered into a servicing


 






    	-431-



    	 



    

 


relationship with respect to the Mortgage Loans (other than a Non-Serviced Mortgage
Loan) to agree to the foregoing indemnification and contribution obligations.


 


Promptly after receipt by an indemnified
party of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against
the indemnifying party hereunder, notify in writing the indemnifying party of the commencement thereof; but the omission to so
notify the indemnifying party shall not relieve it from any liability which it may have to any indemnified party under this Agreement
except to the extent that such omission to notify materially prejudices the indemnifying party. In case any such action is brought
against any indemnified party, after the indemnifying party has been notified of the commencement of such action, such indemnifying
party shall be entitled to participate therein (at its own expense) and, to the extent that it may wish, shall be entitled to assume
the defense thereof (jointly with any other indemnifying party similarly notified) with counsel reasonably satisfactory to such
indemnified party (which approval shall not be unreasonably withheld or delayed), and after notice from the indemnifying party
to such indemnified party of its election to so assume the defense thereof, the indemnifying party shall not be liable to such
indemnified party for any expenses subsequently incurred in connection with the defense thereof other than reasonable costs of
investigation. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses
of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party
shall have agreed to the retention of such counsel, (ii) the named parties to any such proceeding (including any impleaded
parties and, in the case of an investigation by the Commission, any parties that are, or whose reporting materials are, the subject
of such investigation) include both the indemnifying party and the indemnified party and representation of both parties by the
same counsel would be inappropriate due to actual or potential differing interests between them or (iii) the indemnifying
party fails within a reasonable period of time to designate counsel that is reasonably satisfactory to the indemnified party (which
approval shall not be unreasonably withheld or delayed). In no event shall the indemnifying parties be liable for fees and expenses
of more than one counsel (in addition to any local counsel) in any one jurisdiction separate from their own counsel for all indemnified
parties in connection with any one action or separate but similar or related actions in the same jurisdiction arising out of the
same general allegations or circumstances. An indemnifying party shall not be liable for any settlement of any proceeding effected
without its written consent. However, if settled with such consent, the indemnifying party shall indemnify the indemnified party
from and against any loss or liability by reason of such settlement to the extent that the indemnifying party is otherwise required
to do so under this Agreement. If an indemnifying party assumes the defense of any proceeding, it shall be entitled to settle such
proceeding with the consent of the indemnified party (which consent shall not be unreasonably withheld or delayed) or, if such
settlement (i) provides for an unconditional release of the indemnified party in connection with all matters relating to the
proceeding that have been asserted against the indemnified party in such proceeding by the other parties to such settlement and
(ii) does not require an admission of fault by the indemnified party, without the consent of the indemnified party.


 





Section 10.15     Amendments. This
Article X may be amended by the written consent of all the parties hereto pursuant to Section 12.07 for purposes
of complying with Regulation AB without, in each case, any Opinions of Counsel, Officer’s Certificates, Rating


 






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 Agency Confirmations
or the consent of any Certificateholder, notwithstanding anything to the contrary contained in this Agreement.


 


Section 10.16     Exchange
Act Report Signatures; Delivery of Notices; Interpretation of Grace Periods. (a) Each Form 8-K report, Form 10-D report
and Form 10-K report shall be signed by the Depositor in accordance with procedures to be agreed upon by the Depositor and the
Certificate Administrator. The signing party at the Depositor can be contacted at Deutsche Mortgage & Asset Receiving
Corporation at 60 Wall Street, New York, New York 10005, Attention: Lainie Kaye, with a copy to Salvatore Palazzolo.


 


(b)     Notwithstanding anything in
Section 12.04 to the contrary, any notice required to be delivered to (i) the Depositor under this Article X
shall be properly given if sent by facsimile to (212) 797-4487, Attention: Lainie Kaye, with a copy to (212) 839-5599, Attention:
Anna H. Glick (or such other number as the Depositor may instruct) and/or by email to Lainie.kaye@db.com, with a copy to
anna.glick@cwt.com (or such other email address as the Depositor may instruct) and (ii) to the Certificate Administrator
under this Article X shall be properly given if sent by facsimile to (410) 884-2380, Attention: Core Services, or such
other number as the Certificate Administrator may instruct and with a copy by email to cts.sec.notifications@wellsfargo.com
(or such other email address as the Certificate Administrator may instruct).


 


(c)     For the avoidance of doubt:


 


(i)      Neither Master
Servicer nor the Special Servicer shall be subject to a Servicer Termination Event, as applicable, pursuant to the last clause of
the definition of “Master Servicer Termination Event” or “Special Servicer Termination Event,” as applicable,
nor shall any such party be deemed to not be in compliance under this Agreement, during any grace period provided for in this Article X,
provided, that if any such party fails to comply with the delivery requirements of this Article X by the expiration
of any applicable grace period such failure shall constitute a Servicer Termination Event with respect to such party; and


 


(ii)     Neither Master
Servicer nor the Special Servicer shall be subject to a Servicer Termination Event, as applicable, pursuant to the last clause of
the definition of “Master Servicer Termination Event” or “Special Servicer Termination Event,” as applicable,
nor shall any such party be deemed to not be in compliance under this Agreement, for failing to deliver any item required under
this Article X by the time required hereunder with respect to any reporting period for which the Trust is not required
to file Exchange Act reports.


 


(d)     If the Certificate Administrator
or the Depositor does not receive the Annual Assessment Report and/or the Annual Attestation Report with respect to any Servicing
Function Participant, or with respect to any Servicing Function Participant retained or engaged by a party hereto that is actually
known by a Responsible Officer of the Certificate Administrator or the Depositor, as the case may be, by March 1st of any
year during which an Annual Report on Form 10-K is required to be filed with the Commission with respect to the Trust, then the
Certificate Administrator shall, and the Depositor may, forward a Servicer Notice to such Servicing Function Participant or the
party hereto that retained or engaged such Sub-Servicing


 






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Function Participant, as the case may be, with a copy of such Servicer
Notice to the Depositor (if the Certificate Administrator is sending the Servicer Notice) or the Certificate Administrator (if
the Depositor is sending the Servicer Notice), as applicable, within two (2) Business Days of such failure. For the purposes of
this Article X and Section 7.01 of this Agreement, a “Servicer Notice” shall constitute either
any writing forwarded to such party or, in the case of the Master Servicer and the Special Servicer, notwithstanding the provisions
of Section 12.05, e-mail notice or fax notice which, in the case of an email transmission, shall be forwarded to all of
the following e-mail addresses for the applicable party: in the case of the Master Servicer and the Special Servicer, to the applicable
email address as provided in writing by the Master Servicer or the Special Servicer, as applicable, upon request, or such other
e-mail addresses as are provided in writing by the Master Servicer or the Special Servicer, as applicable, to the Certificate Administrator
and the Depositor (but any party to this Agreement (or someone acting on their behalf) shall only be required to forward any such
notice to be delivered to the Master Servicer to no more than three e-mail addresses in the aggregate in order to fulfill its notification
requirements as set forth in the preceding sentence and/or under the provisions of Section 7.01. Notwithstanding anything
herein to the contrary, the forwarding of a Servicer Notice shall not relieve any Master Servicer or the Special Servicer of any
liability under Section 7.01(a)(viii) or Section 7.01(b)(viii), respectively, for the failure of any Servicing
Function Participant or Sub-Servicing Entity to deliver any Exchange Act reporting items pursuant to this Article X.


 


Section 10.17     Termination
of the Certificate Administrator. Notwithstanding anything to the contrary contained in this Agreement, the Depositor
may direct the Trustee to, and the Trustee shall upon such direction, terminate the Certificate Administrator upon five Business
Days’ notice if the Certificate Administrator fails to comply with any of its obligations under this Article X;
provided that (a) such termination shall not be effective until a successor certificate administrator shall have accepted
the appointment, (b) the Certificate Administrator may not be terminated if it cannot perform its obligations due to its
failure to properly prepare or file on a timely basis any Form 8-K, Form 10-K or Form 10-D or any amendments to such forms or
any Form 12b-25 where such failure results from the Certificate Administrator’s inability or failure to receive, within
the exact time frames set forth in this Agreement any information, approval, direction or signature from any other party hereto
needed to prepare, arrange for execution or file any such Form 8-K, Form 10-K or Form 10-D or any amendments to such forms or
any form 12b-25 not resulting from its own negligence, bad faith or willful misconduct, (c) the Certificate Administrator
may not be terminated if, following the Certificate Administrator’s failure to comply with any of such obligations under
Section 10.05(c), Section 10.07, Section 10.09, Section 10.11, Section 10.12
or Section 10.13 on or prior to the dates by which such obligations are to be performed pursuant to, and as set
forth in, such Sections the Certificate Administrator subsequently complies with such obligations before the Depositor gives written
notice to it that it is terminated in accordance with this Section 10.17 and (d) the Certificate Administrator
may not be terminated if the Certificate Administrator’s failure to comply does not cause it to fail in its obligations
to timely file the related Form 8-K, Form 10-D or Form 10-K, as the case may be, by the related deadline for filing such Form
8-K, Form 10-D or Form 10-K, then the Depositor shall cease to have the right to terminate the Certificate Administrator under
this Section 10.17 on the date on which such Form 8-K, Form 10-D or Form 10-K is so filed.


 






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Article XI



THE ASSET REPRESENTATIONS REVIEWER


 


Section 11.01     Asset Review.


 


(a)     On or prior to each Distribution
Date, based either on the CREFC® Delinquent Loan Status Report or the CREFC® Loan Periodic Update
File, the Certificate Administrator shall determine if an Asset Review Trigger has occurred. If an Asset Review Trigger is determined
to have occurred, the Certificate Administrator shall promptly provide notice to the Asset Representations Reviewer, the Master
Servicer, the Special Servicer, the Directing Holder and all Certificateholders and each other party to this Agreement. Any notice
required to be delivered to the Certificateholders pursuant to this Article XI shall be delivered by the Certificate Administrator
by posting such notice on the Certificate Administrator’s Website, by mailing such notice to their addresses appearing in
the Certificate Register in the case of Definitive Certificates and by delivering such notice via the Depository in the case of
Book-Entry Certificates. The Certificate Administrator shall include in the Form 10-D relating to the reporting period in which
the Asset Review Trigger occurred the following date a statement describing the events that caused the Asset Review Trigger to
occur: “As of the [Date of Distribution], the following mortgage loans identified below are 60 or more days delinquent and
an Asset Review Trigger as defined in the Pooling and Servicing Agreement has occurred.” On each Distribution Date after
providing such notice to Certificateholders, the Certificate Administrator, based on information provided to it by the Master Servicer
or the Special Servicer, shall determine whether (1) any additional Mortgage Loan has become a Delinquent Mortgage Loan, (2) any
Mortgage Loan has ceased to be a Delinquent Mortgage Loan and (3) an Asset Review Trigger has ceased to exist, and, if there is
an occurrence of any of the events or circumstances identified in clauses (1), (2) or (3), deliver such information
in a written notice (which may be via email) substantially in the form attached hereto as Exhibit LL within 2 Business Days
to the Master Servicer, the Special Servicer, the Operating Advisor, the Asset Representations Reviewer and the Directing Holder.


 


If Certificateholders evidencing not
less than 5% of the Voting Rights of the Certificates deliver to the Certificate Administrator, within 90 days after the filing
of the Form 10-D reporting the occurrence of an Asset Review Trigger, a written direction requesting a vote to commence an Asset
Review (such written direction, the “Asset Review Vote Election”), then upon receipt of the Asset Review Vote
Election, the Certificate Administrator shall promptly provide written notice thereof to the Asset Representations Reviewer and
to all Certificateholders and to conduct a solicitation of votes to authorize an Asset Review. Upon the affirmative vote to authorize
an Asset Review by Holders of Certificates evidencing at least a majority of an Asset Review Quorum within 150 days of receipt
of the Asset Review Vote Election (an “Affirmative Asset Review Vote”), the Certificate Administrator shall
promptly provide written notice thereof to all parties to this Agreement, the Underwriters, the Mortgage Loan Sellers, the Directing
Holder and the Certificateholders. In the event an Affirmative Asset Review Vote has not occurred within such 150-day period following
the receipt of the Asset Review Vote Election, no Certificateholder may request a vote or cast a vote for an Asset Review and the
Asset Representations Reviewer will not be required to review any Delinquent Mortgage Loan unless and until (A) an additional
Mortgage Loan has become a Delinquent Mortgage Loan after the


 






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expiration of such 150-day period, (B) an additional Asset Review
Trigger has occurred as a result or otherwise is in effect, (C) the Certificate Administrator has timely received any Asset
Review Vote Election after the occurrence of the events described in clauses (A) and (B) in this sentence and (D) an Affirmative
Asset Review Vote has occurred within 150 days after the Asset Review Vote Election described in clause (C) in this sentence. After
the occurrence of any Asset Review Vote Election or an Affirmative Asset Review Vote, no Certificateholder may make any additional
Asset Review Vote Election except as described in the immediately preceding sentence. Any reasonable out-of-pocket expenses incurred
by the Certificate Administrator in connection with administering such vote will be paid as an expense of the Trust from the Collection
Account. The Certificate Administrator shall be entitled to administer any vote in connection with the foregoing through an agent.


 


(b)     (i) Upon receipt of such notice
of an Affirmative Asset Review Vote (the “Asset Review Notice”), the Custodian (with respect to clauses (1)
– (5) for Performing Loans), the Master Servicer (with respect to clause (6) for Performing Loans) and the
Special Servicer (with respect to Specially Serviced Loans), in each case to the extent in such party’s possession, will
be required to promptly, but in no event later than 10 Business Days (except with respect to clause (6)) after receipt of
such notice from the Certificate Administrator, provide the following materials to the asset representations reviewer (collectively,
with the Diligence Files, a copy of the Prospectus, a copy of each related Mortgage Loan Purchase Agreement and a copy of this
Agreement, the “Review Materials”) by delivering such Review Materials to the Certificate Administrator for
posting to the Secure Data Room or the Certificate Administrator’s Website, as applicable:


 


(1)     a copy of an assignment
of the Mortgage in favor of the Trustee (or the related Other Trustee, in the case of a Non-Serviced Mortgage Loan), with evidence
of recording thereon, for each Delinquent Mortgage Loan that is subject to an Asset Review;


 


(2)     a copy of an assignment
of any related assignment of leases (if such item is a document separate from the Mortgage) in favor of the Trustee (or the related
Other Trustee, in the case of a Non-Serviced Mortgage Loan), with evidence of recording thereon, related to each Delinquent Mortgage
Loan that is subject to an Asset Review;


 


(3)     a copy of the assignment
of all unrecorded documents relating to each Delinquent Mortgage Loan that is subject to an Asset Review, if not already covered
pursuant to items (1) or (2) above;


 


(4)     a copy of all filed
copies (bearing evidence of filing) or evidence of filing of any UCC financing statements related to each Delinquent Mortgage Loan
that is subject to an Asset Review;


 


(5)     a copy of an assignment
in favor of the Trustee (or the related Other Trustee, in the case of a Non-Serviced Mortgage Loan) of any financing statement
executed and filed in the relevant jurisdiction related to each Delinquent Mortgage Loan that is subject to an Asset Review; and


 


(6)     any other related
documents that were entered into or delivered in connection with the origination of such Mortgage Loan that are necessary in connection


 






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with the Asset Representations Reviewer’s completion of any Asset Review and that are that are reasonably requested by the
Asset Representations Reviewer in the time frame and as otherwise described below.


 


(ii)     If, as part
of an Asset Review of any Mortgage Loan, the Asset Representations Reviewer determines that it is missing any documents that are
required to be a part of the Review Materials for such Mortgage Loan or which were entered into or delivered in connection with
the origination of such Mortgage Loan, in each case that are necessary in connection with its completion of any such Asset Review,
then the Asset Representations Reviewer shall promptly, but in no event later than 10 Business Days after receipt of the Review
Materials identified in clauses (1) through (5) above, notify (in writing) the Master Servicer (with respect to Performing
Loans) or the Special Servicer (with respect to Specially Serviced Loans), as applicable, of such missing documents, and request
(in writing) the Master Servicer or the Special Servicer, as applicable, promptly, but in no event later than 10 Business
Days after receipt of such notification from the Asset Representations Reviewer, to deliver to the Asset Representations Reviewer
such missing documents to the extent in its possession; provided that any such notification and/or request shall be in writing,
specifically identify the documents being requested and sent to the notice address for the related party set forth in Section 12.05
of this Agreement. In the event any such missing documents are not provided by the Master Servicer or Special Servicer, as applicable,
within such 10 Business Day period, the Asset Representations Reviewer shall request such documents from the related Mortgage Loan
Seller. The Mortgage Loan Seller will be required under the related Mortgage Loan Purchase Agreement to deliver such additional
documents only to the extent in the possession of such Mortgage Loan Seller; provided that the Mortgage Loan Seller shall
not be required to deliver information that is proprietary to the related originator or Mortgage Loan Seller or any draft documents
or privileged or internal communications.


 


(iii)     The Asset
Representations Reviewer may, but is under no obligation to, consider and rely upon information furnished to it by a Person that
is not a party to this Agreement or the related Mortgage Loan Seller, and shall do so only if such information can be independently
verified (without unreasonable effort or expense to the Asset Representations Reviewer) and is determined by the Asset Representations
Reviewer in each case in accordance with the Asset Review Standard to be relevant to the Asset Review conducted pursuant to this
Section 11.01 hereof (such information, “Unsolicited Information”).


 


(iv)    Upon receipt
by the Asset Representations Reviewer of the Asset Review Notice and access to the Diligence File posted to the Secure Data Room
with respect to a Delinquent Mortgage Loan, the Asset Representations Reviewer, as an independent contractor, shall commence a
review of the compliance of each Delinquent Mortgage Loan with the representations and warranties related to that Delinquent Mortgage
Loan in accordance with the Asset Review Standard and the procedures set forth on Exhibit JJ hereto (such review, the
“Asset Review”). The Asset Representations Reviewer shall perform an Asset Review with respect to each representation
and warranty made by the related Mortgage Loan Seller with respect to such Delinquent Mortgage Loan in accordance with the procedures
set forth on Exhibit JJ (each such procedure, a “Test”).


 






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(v)       The Asset Representations
Reviewer will not be permitted to review any information other than (x) the Review Materials, or (y) Unsolicited Information.


 


(vi)      The Asset Representations
Reviewer may, absent manifest error and subject to the Asset Review Standard, (i) assume, without independent investigation or
verification, that the Review Materials are accurate and complete in all material respects and (ii) conclusively rely on such Review
Materials.


 


(vii)     If the Asset
Representations Reviewer determines that the Review Materials are insufficient to complete a Test and such missing documentation
is not delivered to the Asset Representations Reviewer by the applicable Mortgage Loan Seller, the Master Servicer (with respect
to Performing Loans) or the Special Servicer (with respect to Specially Serviced Loans) within 10 days of the written request by
the Asset Representations Reviewer, then the Asset Representations Reviewer shall list such missing documents in its preliminary
report setting forth the preliminary results of the application of the Tests and the reasons why such missing documents are necessary
to complete a Test and (if the Asset Representations Reviewer has so concluded) that the absence of such documents shall be deemed
to be a failure of such Test. The Asset Representations Reviewer shall provide such preliminary report to the Master Servicer or
the Special Servicer, as applicable, and to the related Mortgage Loan Seller no later than 60 days after the date on which access
to the Diligence Files in the Secure Data Room is made available to the Asset Representations Reviewer by the Certificate Administrator.
If the preliminary report indicates that any of the representations and warranties fails or is deemed to fail any Test, the related
Mortgage Loan Seller shall have 90 days (the “Cure/Contest Period”) to remedy or otherwise refute the failure.
Any documents provided or explanations given to support a conclusion that the representation and warranty has not failed a Test
or that any missing documents in the Review Materials are not required to complete a Test shall be promptly delivered by the related
Mortgage Loan Seller to the Asset Representations Reviewer.


 


(viii)    The Asset
Representations Reviewer shall, within the later of (x) 60 days after the date on which access to the Diligence Files in the Secure
Data Room is made available to the Asset Representations Reviewer by the Certificate Administrator or (y) 10 days after the expiration
of the Cure/Contest Period, complete an Asset Review with respect to each Delinquent Mortgage Loan and deliver (i) a report setting
forth the Asset Representations Reviewer’s findings and conclusions as to whether or not it has determined there is any evidence
of a failure of any Test based on the Asset Review and a statement that the Asset Representations Reviewer’s findings and
conclusions set forth in such report were not influenced by any third party (an “Asset Review Report”) to each
party to this Agreement and the applicable Mortgage Loan Seller for each Delinquent Mortgage Loan and the Directing Holder and
(ii) a summary of the Asset Representations Reviewer’s conclusions included in such Asset Review Report (an “Asset
Review Report Summary”) to the Trustee, the Certificate Administrator, the Master Servicer and the Special Servicer.
The period of time by which the Asset Review Report must be completed and delivered may be extended by up to an additional 30 days,
upon written notice to the parties to this Agreement and the applicable Mortgage Loan Seller, if the Asset Representations Reviewer
determines pursuant to the Asset Review Standard that


 






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such additional time is required due to the characteristics of the Mortgage
Loan and/or the Mortgaged Property or Mortgaged Properties. In no event may the Asset Representations Reviewer determine whether
any Test failure constitutes a Material Breach or Material Defect, or whether the Trust should enforce any rights it may have against
the applicable Mortgage Loan Seller, which, in each case, shall be a responsibility of the Master Servicer (with respect to Performing
Loans) or the Special Servicer (with respect to Specially Serviced Loans) pursuant to Section 2.03(g) of this Agreement.


 


(ix)       In addition,
in the event that the Asset Representations Reviewer does not receive any documentation that it requested from the Master Servicer
or the Special Servicer, as applicable, or the related Mortgage Loan Seller in sufficient time to allow the Asset Representations
Reviewer to complete its Asset Review and deliver an Asset Review Report (as such date may have been extended pursuant to this
Agreement), the Asset Representations Reviewer shall prepare the Asset Review Report solely based on the documentation received
by the Asset Representations Reviewer with respect to the related Delinquent Mortgage Loan, and the Asset Representations Reviewer
shall have no responsibility to independently obtain any such documentation from any party to this Agreement.


 


(x)        Within 45 days
after receipt of an Asset Review Report with respect to any Mortgage Loan, the Master Servicer (with respect to any Performing
Loans) or the Special Servicer (with respect to Specially Serviced Loans) shall determine whether at that time, based on the Servicing
Standard, whether there exists a Material Breach or Material Defect with respect to such Mortgage Loan. If the Master Servicer
or the Special Servicer, as applicable, determines that a Material Breach or Material Defect exists, the Master Servicer or Special
Servicer, as applicable, shall enforce the obligations of the related Mortgage Loan Seller with respect to such Material Breach
or Material Defect in accordance with Section 2.03(d).


 


(c)     
  The Asset Representations Reviewer and its Affiliates shall keep all Privileged Information confidential and shall not
disclose such Privileged Information to any Person (including Certificateholders), other than (1) to the extent expressly
required by this Agreement in an Asset Review Report or otherwise, to the other parties to this Agreement with a notice
indicating that such information is Privileged Information or (2) pursuant to a Privileged Information Exception. Each party
to this Agreement that receives Privileged Information from the Asset Representations Reviewer with a notice stating that
such information is Privileged Information shall not disclose such Privileged Information to any Person without the prior
written consent of the Special Servicer other than pursuant to a Privileged Information Exception. The Asset Representations
Reviewer shall keep all documents and information received by the Asset Representations Reviewer in connection with an Asset
Review that are provided by the applicable Mortgage Loan Seller, the Master Servicer and the Special Servicer confidential
and shall not disclose such documents or information except (i) for purposes of complying with its duties and obligations
under this Agreement, (ii) if such documents or information become generally available and known to the public other than as
a result of a disclosure directly or indirectly by the Asset Representations Reviewer, (iii) if it is reasonable and
necessary for the Asset Representations Reviewer to disclose such documents or information in working with legal counsel,
auditors, taxing authorities or other governmental agencies, (iv) if


 






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such documents or information was already known to the
Asset Representations Reviewer and not otherwise subject to a confidentiality obligation and/or (v) if the Asset
Representations Reviewer is required by law, rule, regulation, order, judgment or decree to disclose such document or
information.


 


(d)     The Asset Representations Reviewer
may delegate its duties to agents or subcontractors so long as the related agreements or arrangements with such agents or subcontractors
are consistent with the provisions of this Section 11.01; provided that no agent or subcontractor may (1) be affiliated
with any Mortgage Loan Seller, Master Servicer, Special Servicer, the Depositor, the Certificate Administrator, the Trustee, the
Directing Holder or any of their respective Affiliates or (ii) have been paid any fees, compensation or other remuneration by an
Underwriter, Master Servicer, Special Servicer, the Depositor, the Certificate Administrator, the Trustee, the Directing Holder
or any of their respective Affiliates in connection with due diligence or other services with respect to any Mortgage Loan prior
to the Closing Date. Notwithstanding the foregoing sentence, the Asset Representations Reviewer shall remain obligated and primarily
liable for any Asset Review required hereunder in accordance with the provisions of this Agreement without diminution of such obligation
or liability by virtue of such delegation or arrangements or by virtue of indemnification from any Person acting as its agents
or subcontractor to the same extent and under the same terms and conditions as if the Asset Representations Reviewer alone were
performing its obligations under this Agreement. The Asset Representations Reviewer shall be entitled to enter into an agreement
with any agent or subcontractor providing for indemnification of the Asset Representations Reviewer by such agent or subcontractor,
and nothing contained in this Agreement shall be deemed to limit or modify such indemnification.


 


Section 11.02     Payment of
Asset Representations Reviewer Asset Review Fees and Expenses; Limitation of Liability.


 


(a)     As compensation for the performance
of its duties hereunder, upon the completion of any Asset Review with respect to a Delinquent Mortgage Loan, the Asset Representations
Reviewer shall be entitled to a fee that is a reasonable and customary hourly fee charged by the Asset Representations Reviewer
for similar consulting assignments at the time of such review and any related costs and expenses; provided that the total
payment to the Asset Representations Reviewer shall not be greater than the Asset Representations Reviewer Cap (the “Asset
Representations Reviewer Asset Review Fee”). With respect to an individual Asset Review Trigger and the Mortgage Loans
that are Delinquent Mortgage Loans and are subject to an Asset Review (the “Subject Loans”), the “Asset
Representations Reviewer Cap” shall equal the sum of: (i) $9,500 multiplied by the number of Subject Loans, plus (ii)
$1,500 per Mortgaged Property relating to the Subject Loans in excess of one Mortgaged Property per Subject Loan, plus (iii) $1,000
per Mortgaged Property relating to a Subject Loan subject to a ground lease, plus (iv) $1,000 per Mortgaged Property relating to
a Subject Loan subject to a franchise agreement, hotel management agreement or hotel license agreement, subject, in the case of
each of clauses (i) through (iv), to adjustments on the basis of the year-end Consumer Price Index for All Urban
Consumers, or other similar index if the Consumer Price Index for All Urban Consumers is no longer calculated, taking into account
the Consumer Price Index for All Urban Consumers, or other similar index if the Consumer Price Index for All Urban Consumers is
no 


 






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longer calculated for the year of the Closing Date and for the year of the occurrence of the Asset Review.


 


(b)     [Reserved.]


 


(c)     The related Mortgage Loan Seller
with respect to each Delinquent Mortgage Loan that is subject to an Asset Review shall pay the portion of the Asset Representations
Reviewer Asset Review Fee attributable to the Delinquent Mortgage Loan(s) contributed by it, as allocated on the basis of the hourly
charges and costs and expenses incurred with respect to its related Delinquent Mortgage Loans; provided that if the total
charge for the Asset Representations Reviewer on an hourly fee plus costs and expenses basis would exceed the Asset Representations
Reviewer Cap, each Mortgage Loan Seller’s required payment shall be reduced pro rata according to its proportion of
the total charges until the aggregate amount owed by all Mortgage Loan Sellers is equal to the Asset Representations Reviewer Cap;
provided, however, that if the related Mortgage Loan Seller is insolvent or fails to pay such amount within 90 days
of written request by the Asset Representations Reviewer, such fee shall be paid by the Trust following delivery by the Asset Representations
Reviewer of evidence reasonably satisfactory to the Master Servicer or the Special Servicer, as applicable, of such insolvency
or failure to pay such amount; provided, further, that notwithstanding any payment of such fee by the issuing entity
to the Asset Representations Reviewer, such fee shall remain an obligation of the related Mortgage Loan Seller and the Master Servicer
or the Special Servicer, as applicable, shall, to the extent consistent with the Servicing Standard, pursue remedies against such
Mortgage Loan Seller in order to seek recovery of such amounts from such Mortgage Loan Seller or its insolvency estate. The Asset
Representations Reviewer Asset Review Fee with respect to a Delinquent Mortgage Loan shall be included in the Purchase Price for
any Mortgage Loan that was the subject of a completed Asset Review and that is repurchased by the related Mortgage Loan Seller.


 


(d)     The Asset Representations Reviewer
shall be liable in accordance herewith only to the extent of the obligations specifically imposed by this Agreement.


 


(e)     The Asset Representations Reviewer
may assign its rights and obligations under this Agreement in connection with the sale or transfer of all or substantially all
of its Asset Representations Reviewer portfolio, provided that: (i) the purchaser or transferee accepting such assignment
and delegation (A) is an Eligible Asset Representations Reviewer, organized and doing business under the laws of the United States
of America, any state of the United States of America or the District of Columbia, authorized under such laws to perform the duties
of the asset representations reviewer resulting from a merger, consolidation or succession that is permitted under this Agreement,
(B) executes and delivers to the Trustee and the Certificate Administrator an agreement that contains an assumption by such person
of the due and punctual performance and observance of each covenant and condition to be performed or observed by the asset representations
reviewer under this Agreement from and after the date of such agreement and (C) is not be a prohibited party under this Agreement;
(ii) the Asset Representations Reviewer shall not be released from its obligations under this Agreement that arose prior to the
effective date of such assignment and delegation; (iii) the rate at which the Asset Representations Reviewer Asset Review Fee (or
any component thereof) is calculated shall not exceed the rate then in effect and (iv) the resigning Asset Representations Reviewer
shall be responsible for the reasonable costs and expenses of each other party to this Agreement and the Rating Agencies in


 






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connection
with such transfer. Upon acceptance of such assignment and delegation, the purchaser or transferee shall provide notice to each
party to this Agreement and then will be the successor asset representations reviewer hereunder.


 


  Section 11.03     Resignation
of the Asset Representations Reviewer. The Asset Representations Reviewer may resign
and be discharged from its obligations hereunder by giving written notice thereof to the other parties to this Agreement and the
17g-5 Information Provider. Upon such notice of resignation, the Depositor shall promptly appoint a successor Asset Representations
Reviewer that is an Eligible Asset Representations Reviewer. If no successor Asset Representations Reviewer shall have been so
appointed and have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Asset
Representations Reviewer may petition any court of competent jurisdiction for the appointment of a successor Asset Representations
Reviewer that is an Eligible Asset Representations Reviewer. The Asset Representations Reviewer will bear all reasonable costs
and expenses of each other party hereto and each Rating Agency in connection with its resignation.


 


  Section 11.04     Restrictions
of the Asset Representations Reviewer. Neither the Asset Representations Reviewer nor any of its Affiliates shall make
any investment in any Class of Certificates; provided, however, that such prohibition shall not apply to (i) riskless
principal transactions effected by a broker-dealer Affiliate of the Asset Representations Reviewer or (ii) investments by
an Affiliate of the Asset Representations Reviewer if the Asset Representations Reviewer and such Affiliate maintain policies
and procedures that (A) segregate personnel involved in the activities of the Asset Representations Reviewer under this Agreement
from personnel involved in such Affiliate’s investment activities and (B) prevent such Affiliate and its personnel
from gaining access to information regarding the Trust and the Asset Representations Reviewer and its personnel from gaining access
to such Affiliate’s information regarding its investment activities.


 


  Section 11.05     Termination
of the Asset Representations Reviewer.


 


  (a)        An “Asset Representations
Reviewer Termination Event” means any one of the following events whether it shall be voluntary or involuntary or be
effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any
administrative or governmental body:


 


(i)       any failure by the
Asset Representations Reviewer to observe or perform in any material respect any of its covenants or agreements or the material
breach of its representations or warranties under this Agreement, which failure shall continue unremedied for a period of 30 days
after the date on which written notice of such failure shall have been given to the Asset Representations Reviewer by the Trustee
or to the Asset Representations Reviewer and the Trustee by the Holders of Certificates having greater than 25% of the aggregate
Voting Rights of all then outstanding Certificates, provided, if such failure is capable of being cured and the Asset Representations
Reviewer is diligently pursuing such cure, such 30 day period will be extended an additional 30 days;


 


(ii)      any failure by the
Asset Representations Reviewer to perform in accordance with the Asset Review Standard which failure shall continue unremedied
for


 






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a period of 30 days after the date written notice of such failure, requiring the same to be remedied, is given to the
Asset Representations Reviewer by any party to this Agreement;


 


  (iii)       any failure
by the Asset Representations Reviewer to be an Eligible Asset Representations Reviewer, which failure shall continue unremedied
for a period of 30 days after the date written notice of such failure, requiring the same to be remedied, is given to the
Asset Representations Reviewer by any party to this Agreement;


 


 (iv)        a decree or order
of a court or agency or supervisory authority having jurisdiction in the premises in an involuntary case under any present or future
federal or state bankruptcy, insolvency or similar law for the appointment of a conservator or receiver or liquidator in any insolvency,
readjustment of debt, marshaling of assets and liabilities or similar proceedings, or for the winding-up or liquidation of its
affairs, shall have been entered against the Asset Representations Reviewer, and such decree or order shall have remained in force
undischarged or unstayed for a period of 60 days;


 


 (v)         the Asset Representations
Reviewer shall consent to the appointment of a conservator or receiver or liquidator or liquidation committee in any insolvency,
readjustment of debt, marshaling of assets and liabilities, voluntary liquidation, or similar proceedings of or relating to the
Asset Representations Reviewer or of or relating to all or substantially all of its property; or


 


 (vi)        the Asset Representations
Reviewer shall admit in writing its inability to pay its debts generally as they become due, file a petition to take advantage
of any applicable insolvency or reorganization statute, make an assignment for the benefit of its creditors, or voluntarily suspend
payment of its obligations.


 


   Upon receipt by the Certificate Administrator
(which shall be simultaneously delivered to the Asset Representations Reviewer) of written notice of the occurrence of any Asset
Representations Reviewer Termination Event, the Certificate Administrator shall promptly provide written notice to all Certificateholders
in accordance with the notice distribution procedures described in Section 11.01(a), unless the Certificate Administrator
has received written notice that such Asset Representations Reviewer Termination Event has been remedied. If an Asset Representations
Reviewer Termination Event shall occur then, and in each and every such case, so long as such Asset Representations Reviewer Termination
Event shall not have been remedied, either the Trustee (i) may or (ii) upon the written direction of holders of Certificates
evidencing not less than 25% of the Voting Rights shall, terminate all of the rights and obligations of the Asset Representations
Reviewer under this Agreement, other than rights and obligations accrued prior to such termination (including the right to receive
all amounts accrued and owing to it under this Agreement) and other than indemnification rights (arising out of events occurring
prior to such termination), by notice in writing to the Asset Representations Reviewer. The Asset Representations Reviewer shall
bear all reasonable costs and expenses of itself and of each other party to this Agreement in connection with its termination due
to an Asset Representations Reviewer Termination Event. Notwithstanding anything herein to the contrary, the Depositor and each
Sponsor shall have the right, but not the obligation, to notify the Certificate Administrator and the Trustee of any Asset Representations
Reviewer Termination Event of which it becomes aware.


 






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(b)     Upon (i) the written direction
of holders of Certificates evidencing not less than 25% of the Voting Rights requesting a vote to terminate and replace the Asset
Representations Reviewer with a proposed successor Asset Representations Reviewer that is an Eligible Asset Representations Reviewer
and (ii) payment by such Holders to the Certificate Administrator of the reasonable fees and expenses to be incurred by the
Certificate Administrator in connection with administering such vote, the Certificate Administrator shall promptly provide written
notice thereof to the Asset Representations Reviewer and to all Certificateholders by (i) posting such notice on its internet
website, and (ii) mailing such notice to all Certificateholders at their addresses appearing in the Certificate Register and
to the Asset Representations Reviewer. Upon the written direction of holders of Certificates evidencing at least 75% of a Certificateholder
Quorum, the Trustee shall terminate all of the rights and obligations of the Asset Representations Reviewer under this Agreement
(other than any rights or obligations that accrued prior to the date of such termination and other than indemnification rights
arising out of events occurring prior to such termination) by notice in writing to the Asset Representations Reviewer and appoint
the proposed successor. As between the Asset Representations Reviewer, on the one hand, and the Certificateholders, on the other,
the Certificateholders shall be entitled in their sole discretion to vote for the termination or not vote for the termination of
the Asset Representations Reviewer. In the event that holders of the certificates evidencing at least 75% of a Certificateholder
Quorum elect to remove the asset representations reviewer without cause and appoint a successor, the successor Asset Representations
Reviewer will be responsible for all expenses necessary to effect the transfer of responsibilities from its predecessor.


 


(c)     On or after the receipt by the
Asset Representations Reviewer of written notice of termination, subject to this Section 11.05, all of its authority and
power under this Agreement shall be terminated and, without limitation, the terminated Asset Representations Reviewer shall execute
any and all documents and other instruments, and do or accomplish all other acts or things reasonably necessary or appropriate
to effect the purposes of such notice of termination. As soon as practicable, but in no event later than 30 days after (1) the
Asset Representations Reviewer resigns pursuant to Section 11.03 of this Agreement or (2) the Trustee delivers such written
notice of termination to the Asset Representations Reviewer, the Trustee shall appoint a successor Asset Representations Reviewer
that is an Eligible Asset Representations Reviewer. The Trustee shall provide written notice of the appointment of an Asset Representations
Reviewer to the Master Servicer, the Special Servicer, the Operating Advisor, the Certificate Administrator, the Directing Holder
and each Certificateholder within one Business Day of such appointment.


 


The Asset Representations Reviewer
shall at all times be an Eligible Asset Representations Reviewer and if the Asset Representations Reviewer ceases to be an Eligible
Asset Representations Reviewer, the Asset Representations Reviewer shall immediately resign under Section 11.03 of this
Agreement and the Trustee shall use commercially reasonable efforts to appoint a successor Asset Representations Reviewer subject
to and in accordance with this Section 11.05. Notwithstanding the foregoing, if the Trustee is unable to find a successor
Asset Representations Reviewer within 30 days of the termination of the Asset Representations Reviewer, the Depositor shall
be permitted to find a replacement. The Trustee shall not be liable for any failure to identify and appoint a successor asset representations
reviewer so long as the Trustee uses commercially reasonable efforts to conduct a search for a successor asset


 






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representations
reviewer and such failure is not a result of the Trustee’s negligence, bad faith or willful misconduct in the performance
of its obligations hereunder.


 


(d)     Upon any termination of the
Asset Representations Reviewer and appointment of a successor to the Asset Representations Reviewer, the Trustee shall, as soon
as possible, give written notice thereof to the Special Servicer, the Master Servicer, the Certificate Administrator (who shall,
as soon as possible, give written notice thereof to the Certificateholders), the Operating Advisor, the Sponsors, the Depositor
and, prior to the occurrence and continuance of a Consultation Termination Event, the Directing Holder and each Rating Agency.
In the event that the Asset Representations Reviewer is terminated, all of its rights and obligations under this Agreement shall
terminate, other than any rights or obligations that accrued prior to the date of such termination (including the right to receive
all amounts accrued and owing to it under this Agreement) and other than indemnification rights (arising out of events occurring
prior to such termination).


 


Article XII



MISCELLANEOUS PROVISIONS


 


Section 12.01     Counterparts. This
Agreement may be executed simultaneously in any number of counterparts, each of which counterparts shall be deemed to be an original,
and such counterparts shall constitute but one and the same instrument. Delivery of an executed counterpart of a signature page
of this Agreement in Portable Document Format (PDF), any other electronic format or by facsimile transmission shall be as effective
as delivery of a manually executed original counterpart of this Agreement.


 


Section 12.02     Limitation
on Rights of Certificateholders. The death or incapacity of any Certificateholder shall not operate to terminate this
Agreement or the Trust Fund, or entitle such Certificateholder’s legal representatives or heirs to claim an accounting or
to take any action or proceeding in any court for a partition or winding up of the Trust Fund, or otherwise affect the rights,
obligations and liabilities of the parties hereto or any of them.


 


No Certificateholder shall have any
right to vote (except as expressly provided for herein) or in any manner otherwise control the operation and management of the
Trust Fund, or the obligations of the parties hereto, and nothing herein set forth, or contained in the terms of the Certificates,
shall be construed so as to constitute the Certificateholders from time to time as partners or members of an association; and no
Certificateholder shall be under any liability to any third person by reason of any action taken by the parties to this Agreement
pursuant to any provision hereof.


 


Other than with respect to any rights
to deliver a Certificateholder Repurchase Request and exercise the rights described under Section 2.03(k)(i), no Certificateholder
shall have any right by virtue of any provision of this Agreement to institute any suit, action or proceeding in equity or at law
upon or under or with respect to this Agreement, any Intercreditor Agreement, any Mortgage Loan, or with respect to the Certificates,
unless, with respect to any suit, action or proceeding upon or under or with respect to this Agreement, such Holder previously
shall have given to the Trustee and the Certificate Administrator a written notice of


 






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default, and of the continuance thereof,
as herein before provided, or of the need to institute such suit, action or proceeding on behalf of the Trust and unless also (except
in the case of a default by the Trustee) the Holders of Certificates of any Class evidencing not less than 25% of the related Percentage
Interests in such Class shall have made written request upon the Trustee to institute such action, suit or proceeding in its own
name as Trustee hereunder and shall have offered to the Trustee such indemnity reasonably satisfactory to it as it may require
against the costs, expenses and liabilities to be incurred therein or thereby, and the Trustee, for 60 days after its receipt of
such notice, request and offer of such indemnity, shall have neglected or refused to institute any such action, suit or proceeding.
The Trustee shall be under no obligation to exercise any of the trusts or powers vested in it hereunder or to institute, conduct
or defend any litigation hereunder or in relation hereto at the request, order or direction of any of the Holders of Certificates
unless such Holders have offered to the Trustee indemnity reasonably satisfactory to it against the costs, expenses and liabilities
which may be incurred therein or hereby. It is understood and intended, and expressly covenanted by each Certificateholder with
every other Certificateholder and the Trustee, that no one or more Holders of Certificates shall have any right in any manner whatsoever
by virtue of any provision of this Agreement or the Certificates to affect, disturb or prejudice the rights of the Holders of any
other of such Certificates, or to obtain or seek to obtain priority over or preference to any other such Holder, which priority
or preference is not otherwise provided for herein, or to enforce any right under this Agreement or the Certificates, except in
the manner herein or therein provided and for the equal, ratable and common benefit of all Certificateholders. For the protection
and enforcement of the provisions of this Section 12.02, each and every Certificateholder and the Trustee shall be entitled
to such relief as can be given either at law or in equity.


 


No Certificateholder shall be a “Party
in Interest” as described under 11 U.S.C. Section 1109(b) solely by virtue of its ownership of a Certificate.


 


Section 12.03     Governing
Law. THIS AGREEMENT AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO THIS AGREEMENT, THE RELATIONSHIP
OF THE PARTIES TO THIS AGREEMENT, AND/OR THE INTERPRETATION AND ENFORCEMENT OF THE RIGHTS AND DUTIES OF THE PARTIES TO THIS AGREEMENT
SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS AND DECISIONS OF THE STATE OF NEW YORK, WITHOUT REGARD
TO THE CHOICE OF LAW RULES THEREOF. THE PARTIES HERETO INTEND THAT THE PROVISIONS OF SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS
LAW SHALL APPLY TO THIS AGREEMENT.


 


Section 12.04     Waiver
of Jury Trial; Consent to Jurisdiction. TO THE FULLEST EXTENT PERMITTED UNDER APPLICABLE LAW, EACH PARTY HERETO WAIVES
ITS RESPECTIVE RIGHTS TO A TRIAL BY JURY OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF OR RELATED TO THIS AGREEMENT,
ANY ASSIGNMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY, IN ANY ACTION, PROCEEDING OR OTHER LITIGATION OF ANY TYPE BROUGHT BY ANY
PARTY AGAINST THE OTHER PARTIES, WHETHER WITH RESPECT TO CONTRACT CLAIMS, TORT CLAIMS, OR OTHERWISE. EACH PARTY HERETO AGREES
THAT ANY SUCH CLAIM OR


 






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CAUSE OF ACTION SHALL BE TRIED BY A COURT TRIAL WITHOUT A JURY. WITHOUT LIMITING THE FOREGOING, THE PARTIES
FURTHER AGREE THAT THEIR RESPECTIVE RIGHT TO A TRIAL BY JURY IS WAIVED BY OPERATION OF THIS SECTION AS TO ANY ACTION, COUNTERCLAIM
OR OTHER PROCEEDING WHICH SEEKS, IN WHOLE OR IN PART, TO CHALLENGE THE VALIDITY OR ENFORCEABILITY OF THIS AGREEMENT, ANY ASSIGNMENT
OR ANY PROVISION HEREOF OR THEREOF. THIS WAIVER SHALL APPLY TO ANY SUBSEQUENT AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS
TO THIS AGREEMENT OR ANY ASSIGNMENT.


 


TO THE FULLEST EXTENT PERMITTED
UNDER APPLICABLE LAW, EACH PARTY HERETO HEREBY IRREVOCABLY (I) SUBMITS TO THE JURISDICTION OF ANY NEW YORK STATE AND FEDERAL
COURTS SITTING IN NEW YORK CITY WITH RESPECT TO MATTERS ARISING OUT OF OR RELATING TO THIS AGREEMENT; (II) AGREES THAT ALL
CLAIMS WITH RESPECT TO SUCH MATTERS MAY BE HEARD AND DETERMINED IN SUCH NEW YORK STATE OR FEDERAL COURTS; (III) WAIVES THE
DEFENSE OF AN INCONVENIENT FORUM IN ANY ACTION OR PROCEEDING INVOLVING SUCH CLAIMS IN ANY SUCH COURT; AND (IV) AGREES THAT
A FINAL JUDGMENT IN ANY SUCH ACTION OR PROCEEDING IN ANY SUCH COURT SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS
BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW.


 


Section 12.05     Notices.      Unless
otherwise specified in this Agreement, all demands, notices and communications hereunder shall be in writing, shall be deemed
to have been given upon receipt (except that notices to Holders of Class R Certificates or Holders of any Class of Certificates
no longer held through a Depository and instead held in registered, definitive form shall be deemed to have been given upon being
sent by first-class mail, postage prepaid or by overnight courier) as follows:


 


If to the Trustee, to:


 


Wilmington Trust, National Association

1100 North Market Street

Wilmington, Delaware 19890

Attention: CMBS Trustee DBJPM 2016-C1



with a copy to:



Telecopy: (302) 636-4140

Email: CMBSTrustee@wilmingtontrust.com


 


If to the Certificate Administrator, to:


 






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Wells Fargo Bank, National Association

Corporate Trust Services

9062 Old Annapolis Road

Columbia, Maryland 21045

Attention: Corporate Trust Services — DBJPM 2016-C1


 


If to the Custodian, to:



Wells Fargo Bank, N.A.

Document Custody

1055 10th Avenue SE

Minneapolis, Minnesota 55414

Attention: DBJPM 2016-C1


 


If to the Depositor, to:



Deutsche Mortgage & Asset Receiving Corporation

60 Wall Street

New York, New York 10005

Attention: Lainie Kaye


 


with a copy to:



Cadwalader, Wickersham & Taft LLP

200 Liberty Street

New York, New York 10281

Attention: Anna H. Glick


 


If to the Operating Advisor, to:



Park Bridge Lender Services LLC

41 Watchung Plaza, Suite 250

Montclair, New Jersey 07042

Attention: DBJPM 2016-C1-Surveillance Manager (with a copy sent 

contemporaneously via email to cmbs.notices@parkbridgefinancial.com)


 


If to the Asset Representations Reviewer, to:


 


Park Bridge Lender Services LLC

41 Watchung Plaza, Suite 250

Montclair, New Jersey 07042

Attention: DBJPM 2016-C1-Surveillance Manager (with a copy sent contemporaneously via email to cmbs.notices@parkbridgefinancial.com)


 


If to the Master Servicer, to:


 






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Wells Fargo Bank, National Association

Commercial Mortgage Servicing

MAC D1086

550 South Tryon Street, 14th Floor

Charlotte, North Carolina 28202

Attention: DBJPM 2016-C1 Asset Manager


 


with a copy to:


 


Wells Fargo Bank, National Association

Legal Department

301 South College Street

D1053-300




Charlotte, North Carolina 28202

Attention: Commercial Mortgage Servicing Legal Support


 


with a copy to:


 


K&L Gates LLP

Hearst Tower

214 North Tryon Street

Charlotte, North Carolina 28202

Attention: Stacy G. Ackermann



For items regarding the Rating Agency Q&A Forum and Document 

Request Tool to: RAinvRequests@wellsfargo.com



and



For items regarding the Investor Q&A Forum to: 

REAMInvestorRelations@wellsfargo.com


 


If to the Special Servicer, to:



Midland Loan Services, a Division of PNC Bank, National Association

10851 Mastin Street, Suite 700

Overland Park, Kansas 66210

Attention: Executive Vice President – Division Head

Fax Number: (888) 706-3565



with a copy to:


 


Stinson Leonard Street LLP

1201 Walnut Street, Suite 2900

Kansas City, Missouri 64106-2150

Fax Number: (816) 412-9338

Attention: Kenda K. Tomes


 






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If to German American Capital Corporation as
Mortgage Loan Seller, to:



German American Capital Corporation

60 Wall Street

New York, New York 10005

Attention: Lainie Kaye


 


If to JPMorgan Chase Bank, National Association,
as Mortgage Loan Seller, to:



JPMorgan Chase Bank, National Association

383 Madison Avenue

New York, New York 10179

Attention: Tom Cassino

E-mail: thomas.cassino@jpmorgan.com


 


If to Deutsche Bank Securities Inc., as Initial
Purchaser or Underwriter, to:



Deutsche Bank Securities Inc.

Commercial Mortgage-Backed Securities

60 Wall Street

New York, New York 10005

Attention: Lainie Kaye


 


If to J.P. Morgan Securities LLC, as Initial
Purchaser or Underwriter, to:



J.P. Morgan Securities LLC

383 Madison Avenue, 8th Floor

New York, New York 10179

Attention: SPG Syndicate

Facsimile: 212-834-6754


 


with a copy to:



Bianca A. Russo, Esq.

Managing Director & Associate General Counsel

383 Madison Avenue, 32nd Floor

New York, New York 10179

Facsimile: (917) 464-6116

Email: russo_bianca@jpmorgan.com


 


If to Academy Securities, Inc., as Underwriter,
to:


 


			Academy Securities, Inc.

277 Park Avenue

New York, New York 10172

Attention: Michael Boyd, Chief Compliance Officer

Facsimile Number: (646) 736-3995



 






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If to Sandler O’Neill & Partners,
L.P., as Underwriter, to:


 


			Sandler O’Neill & Partners, L.P.

1251 Avenue of the Americas – 6th Floor

New York, New York 10020

Attention: General Counsel

Telephone Number: (212) 466-7800

Facsimile Number: (212) 466-7996



 


If to Wells Fargo Securities, LLC, as Initial
Purchaser, to:


 


			Wells Fargo Securities, LLC






			375 Park Avenue, 2nd Floor, J0127-023






			New York, New York 10152-023






			Attention: A.J. Sfarra



 


If to the initial Controlling Class Representative
with respect to any Mortgage Loan, to:



Eightfold Real Estate Capital, L.P.

1111 Lincoln Road, Suite 802

Miami Beach, Florida 33139

Attention: Brian Tageson


 


If to the 17g-5 Information Provider, electronically
to:



17g5informationprovider@wellsfargo.com

(in an electronic format readable and uploadable (that is not locked or corrupted) on the 17g-5 Information Provider’s system,
specifically with a subject reference of “DBJPM 2016-C1 Mortgage Trust” and an identification of the type of information
being provided in the body of such electronic mail)


 


or, in the case of the parties to this Agreement, to
such other address as such party shall specify by written notice to the other parties hereto.


 


Solely to the extent the provisions
herein contemplate electronic delivery of information, such information shall be transmitted via electronic mail with a subject
reference to include “DBJPM 2016-C1 Mortgage Trust” (or substantially similar language) (i) in the case of the
Depositor, to lainie.kaye@db.com, (ii) in the case of the Trustee, to cmbstrustee@wilmingtontrust.com, (iii) in the case of
the Certificate Administrator, to the email address specified on the Certificate Administrator’s Website (and, if no such
email address is specified therein, to cts.cmbs.bond.admin@wellsfargo.com), (iv) in the case of the Operating Advisor, to
cmbs.notices@parkbridgefinancial.com, (v) in the case of the Asset Representations Reviewer, to cmbs.notices@parkbridgefinancial.com,
(vi) in the case of the Master Servicer to commercial.servicing@wellsfargo.com, (vii) in the case of the Special Servicer,
to NoticeAdmin@midlandls.com (and solely with respect to notices under Section 3.14, with a copy to AskMidland@midlandls.com)
(viii) in the case of German American Capital


 






    	-451-



    	 



    

 


Corporation, to lainie.kaye@db.com, (ix) in the case of JPMorgan Chase Bank, National
Association, to thomas.cassino@jpmorgan.com, (x) in the case of Deutsche Bank Securities Inc., to lainie.kaye@db.com, (xi) in the
case of J.P. Morgan Securities LLC, to joseph.geoghan@jpmorgan.com and russo_bianca@jpmorgan.com, (xii) in the case of Academy
Securities, Inc., to mboyd@academysecurities.com, (xiii) in the case of Sandler O’Neill & Partners, L.P., to chooper@sandleroneill.com,
(xiv) in the case of Wells Fargo Securities, LLC, to anthony.sfarra@wellsfargo.com and (xv) in the case of the 17g-5 Information
Provider, to 17g5informationprovider@wellsfargo.com; or, in the case of the parties to this Agreement, to such other electronic
mail address as such party shall specify by written notice (which may be electronic) to the other parties hereto.


 


The obligation of any party to this
Agreement to deliver any notices, reports or other information to any Other Depositor, Other Servicer, Other Special Servicer,
Other Trustee or Other 17g-5 Information Provider shall be effective in each case only to the extent such party to this Agreement
has received notice of the identity and contact information of such Other Depositor, Other Servicer, Other Special Servicer, Other
Trustee or Other 17g-5 Information Provider, as applicable. Any such party may conclusively rely on the name and contact information
provided by the related Other Depositor, Other Servicer, Other Special Servicer, Other Trustee or Other 17g-5 Information Provider,
as applicable, and shall be entitled to assume that the identity and contact information for such Other Depositor, Other Servicer,
Other Special Servicer, Other Trustee or Other 17g-5 Information Provider, as applicable has not changed, absent receipt of written
notice from such Other Depositor, Other Servicer, Other Special Servicer, Other Trustee or Other 17g-5 Information Provider, or
a replacement thereof under the applicable Other Pooling and Servicing Agreement, of a change with respect to the identity and
contact information for such Other Depositor, Other Servicer, Other Special Servicer, Other Trustee or Other 17g-5 Information
Provider, or a replacement thereof under the applicable Other Pooling and Servicing Agreement, as applicable.


 


Section 12.06     Severability
of Provisions. If any one or more of the covenants, agreements, provisions or terms of this Agreement shall be for any
reason whatsoever held invalid, then, to the extent permitted by applicable law, such covenants, agreements, provisions or terms
shall be deemed severable from the remaining covenants, agreements, provisions or terms of this Agreement and shall in no way
affect the validity or enforceability of the other provisions of this Agreement or of the Certificates or the rights of the Holders
thereof.


 


Section 12.07     Notice
to the Depositor and Each Rating Agency. (a) The Certificate Administrator shall promptly provide notice, promptly furnish
(or make available) to the Depositor, the Underwriters, the Initial Purchasers, the Directing Holder (if no Consultation Termination
Event has occurred and is continuing), the Trustee the related Serviced Companion Loan Noteholder (if any) and the 17g-5 Information
Provider (who shall promptly post such notice to the 17g-5 Information Provider’s Website) with respect to each of the following
of which a Responsible Officer of the Certificate Administrator has actual knowledge:


 


(i)       any material
change or amendment to this Agreement, any Mortgage Loan Purchase Agreement or any Intercreditor Agreement;


 


(ii)      the occurrence
of any Servicer Termination Event that has not been cured;


 






    	-452-



    	 



    

 


(iii)     the merger,
consolidation, resignation or termination of the Certificate Administrator, the Master Servicer, the Special Servicer, the Operating
Advisor, the Asset Representations Reviewer or the Trustee; and


 


(iv)     the repurchase
of Mortgage Loans pursuant to Section 2.03(e) of this Agreement.


 


(b)     The Certificate Administrator
shall promptly furnish to the Depositor, the Underwriters, the Initial Purchasers, the Directing Holder and the 17g-5 Information
Provider (who shall promptly post such materials to the 17g-5 Information Provider’s Website):


 


(i)       notice of the
final payment to any Class of Certificateholders;


 


(ii)      notice of any
change in the location of the Distribution Accounts, the Interest Reserve Account, or the Gain-on-Sale Reserve Account; and


 


(iii)     each report
to Certificateholders described in Section 4.02 and Section 3.13 of this Agreement.


 


(c)      The Master Servicer shall promptly
furnish to the 17g-5 Information Provider (who shall promptly post such materials to the 17g-5 Information Provider’s Website)
and the related Other 17g-5 Information Provider (if any):


 


(i)       a copy of each
rent roll and each operating and other financial statement and occupancy reports, to the extent such information is required to
be delivered under a Mortgage Loan, in each case to the extent collected pursuant to Section 3.03 of this Agreement;


 


(ii)      notice of any
change in the location of the Collection Account or any Serviced Whole Loan Collection Account,


 


(iii)     a copy of
any notice with respect to a breach of a representation or warranty with respect to any Mortgage Loan;


 


(iv)     any event that
would result in the voluntary or involuntary termination of any insurance of the accounts of the Master Servicer;


 


(v)     any change in
the lien priority of a Mortgage Loan;


 


(vi)     any new lease
of an anchor or a termination of an anchor lease at a retail Mortgaged Property;


 


(vii)   any material
damage to a Mortgaged Property; and


 


(viii)  any amendment,
modification, consent or waiver to or of any provision of a Mortgage Loan or Serviced Whole Loan.


 


(d)     Any party required to deliver
any notice or information pursuant to the terms of this Agreement to the Rating Agencies shall deliver such written notice of the
events or


 






    	-453-



    	 



    

 


information specified in Section 3.14(d) to the Rating Agencies at the address listed below, promptly following
the occurrence thereof. The Master Servicer or Special Servicer, as applicable, and the Certificate Administrator and Trustee also
shall furnish such other information regarding the Trust Fund as may be reasonably requested by the Rating Agencies to the extent
such party has or can obtain such information without unreasonable effort or expense; provided that such other information
is first provided to the 17g-5 Information Provider in accordance with the procedures set forth in Section 3.14(d).
Notwithstanding the foregoing, the failure to deliver such notices or copies shall not constitute a Servicer Termination Event,
as the case may be, under this Agreement. Any confirmation of the rating by the Rating Agencies required hereunder shall be in
writing.


 


Notices to each Rating Agency shall be addressed
as follows:


 


DBRS, Inc.

333 West Wacker Drive, Suite 1800

Chicago, Illinois 60606

Attention: Commercial Mortgage Surveillance

Facsimile No.: (312) 332-3492

Email: cmbs.surveillance@dbrs.com


 


Fitch Ratings, Inc.

33 Whitehall Street

New York, New York 10004

Attention: CMBS Surveillance

Email: info.cmbs@fitchratings.com


 


Moody’s Investors Service, Inc.

7 World Trade Center

New York, New York 10007

Attention: Commercial Mortgage Surveillance Group

Facsimile No.: (212) 553-1350

Email:cmbssurveillance@moodys.com


 


or in each case to such other address as any Rating Agency
shall specify by written notice to the parties hereto.


 


Section 12.08     Amendment. This
Agreement or any Custodial Agreement may be amended at any time by the Depositor, the Master Servicer, the Special Servicer, the
Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer and the Trustee without the consent of any
of the Certificateholders or any Serviced Companion Loan Noteholders:


 


(i)       to cure any
ambiguity or to correct any manifest error;


 


(ii)      to cause the
provisions herein or therein to conform or be consistent with or in furtherance of the statements made in the Prospectus or Private
Placement Memorandum with respect to the Certificates, the Trust or this Agreement or to correct or


 






    	-454-



    	 



    

 


supplement any provisions herein
or therein which may be defective or inconsistent with any other provisions herein or therein;


 


(iii)     to change
the timing and/or nature of deposits in the Collection Account, the Distribution Accounts or any REO Account; provided that
(a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment;


 


(iv)    to modify, eliminate
or add to any of its provisions to such extent as shall be necessary to maintain the qualification of any Trust REMIC as a REMIC
under the relevant provisions of the Code at all times that any Certificate is outstanding, or to avoid or minimize the risk of
imposition of any tax on the Trust Fund or any Trust REMIC that would be a claim against the Trust Fund or any Trust REMIC; provided
that the Trustee and the Certificate Administrator have received an Opinion of Counsel (at the expense of the party requesting
such amendment) to the effect that (a) such action is necessary or desirable to maintain such qualification or to avoid or
minimize the risk of the imposition of any such tax and (b) such action will not adversely affect in any material respect
the interests of any Certificateholder or Companion Loan Noteholder;


 


(v)     to modify, eliminate
or add to the provisions any provision hereof restricting transfer of the Class R Certificates; provided the Depositor
has determined that such change shall not, as evidenced by an Opinion of Counsel, cause the Trust Fund, any Trust REMIC or any
of the Certificateholders (other than the Transferor) to be subject to a federal tax caused by a Transfer to a Person that is a
Disqualified Organization or a Non-U.S. Tax Person;


 


(vi)    to revise or add
any other provisions with respect to matters or questions arising under this Agreement or any other change; provided that
the required action shall not adversely affect in any material respect the interests of any Certificateholder or any holder of
a Serviced Pari Passu Companion Loan not consenting thereto as evidenced in writing by an Opinion of Counsel, at the expense of
the party requesting such amendment or as evidenced by a Rating Agency Confirmation from each of the Rating Agencies with respect
to such amendment or supplement and confirmation of the applicable rating agencies that such action will not result in the downgrade,
withdrawal or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided
that such rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates);


 


(vii)   to amend or
supplement any provision hereof to the extent necessary to maintain the then-current ratings assigned to each Class of Certificates
by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of the Rating Agencies and confirmation of the applicable
rating agencies that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of any
securities related to a Companion Loan, if any (provided that such rating agency confirmation may be


 






    	-455-



    	 



    

 


considered satisfied
in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates); provided
that such amendment or supplement shall not adversely affect in any material respect the interests of any Certificateholder not
consenting thereto as evidenced by an Opinion of Counsel;


 


(viii)  to modify
the provisions of Section 3.06 and Section 3.17 (with respect to reimbursement of Nonrecoverable Advances and Workout-Delayed
Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as a Control Termination Event
has not occurred and is not continuing, the Directing Holder, determine that the commercial mortgage backed securities industry
standard for such provisions has changed, in order to conform to such industry standard, (b) such modification does not adversely
affect the status of any Trust REMIC as a REMIC under the relevant provisions of the Code, as evidenced by an Opinion of Counsel
and (c) each Rating Agency has delivered a Rating Agency Confirmation and, with regard to any class of Serviced Companion
Loan Securities, the applicable rating agencies have delivered a confirmation that such action will not result in the downgrade,
withdrawal or qualification of its then-current ratings (provided that such rating agency confirmation may be considered
satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates);


 


(ix)     to modify the procedures
of this Agreement relating to compliance with Rule 17g-5 of the Exchange Act; provided that such amendment shall not
adversely affect in any material respects the interests of any Certificateholders, as evidenced by (x) an Opinion of Counsel
or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation from each Rating Agency rating such Certificates;
and provided, further, that the Certificate Administrator shall give notice of any such amendment to the 17g-5 Information
Provider for posting to the 17g-5 Information Provider’s Website and the Certificate Administrator shall post such notice
to the Certificate Administrator’s Website; and


 


(x)      to modify, eliminate
or add to any provisions of this Agreement to such extent as would be necessary to comply with the requirements for use of Form
SF-3 in registered offerings to the extent provided in CFR 239.45(b)(1)(ii), (iii) or (iv).


 


provided that any amendment
under this Section 12.08 (a) shall not materially increase the obligations of the Depositor, the Trustee, the
Paying Agent, the Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer, the 17g-5 Information Provider,
the Master Servicer or the Special Servicer without such party’s consent; and (b) shall not adversely affect in any
material respect the interests of any Certificateholder or Serviced Companion Loan Noteholder not consenting thereto, as evidenced
in the case of clauses (iii) through (x) above by (1) an Opinion of Counsel or (2) solely in the case of a Certificateholder
of a rated Class, receipt of a Rating Agency Confirmation from each applicable Rating Agency. In no event shall any such amendment
cause the Lower-Tier REMIC or the Upper-Tier REMIC to fail to qualify as a REMIC.


 


This Agreement or any Custodial Agreement
may also be amended from time to time by the Depositor, the Master Servicer, the Special Servicer, the Certificate Administrator,
the Operating Advisor, the Asset Representations Reviewer and the Trustee with the prior


 






    	-456-



    	 



    

 


written consent of the Holders of Certificates
representing not less than a majority of the Percentage Interests of each Class of Certificates affected thereby (without regard
to Certificates held by the Depositor, any of the Depositor’s Affiliates and/or agents) and each Serviced Companion Loan
Noteholder affected thereby for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions
of this Agreement or modifying in any manner the rights of the Certificateholders or the Serviced Companion Loan Noteholders; provided,
that no such amendment may:


 


(i)       reduce in any
manner the amount of, or delay the timing of, payments received on the Mortgage Loans or Subordinate Companion Loan which are required
to be distributed on any Certificate, without the consent of the Holders of Certificates representing all of the Percentage Interests
of the Class or Classes affected thereby or which are required to be distributed to any Companion Loan Noteholders without the
consent of such Companion Loan Noteholders;


 


(ii)      reduce the
aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment or remove
the requirement to obtain consent of any Companion Loan Noteholder, in any such case without the consent of the Holders of all
Certificates of such Class then-outstanding or such Companion Loan Noteholder, as applicable;


 


(iii)     adversely
affect the Voting Rights of any Class of Certificates without the consent of the Holders of all Certificates of such Class then
outstanding;


 


(iv)     change in any
manner any defined term used in any Mortgage Loan Purchase Agreement or the obligations of any Mortgage Loan Seller under such
Mortgage Loan Purchase Agreement or otherwise or change any rights of any Mortgage Loan Seller as a third party beneficiary hereunder,
without the consent of such Mortgage Loan Seller; or


 


(v)     amend the Servicing
Standard without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from each Rating Agency
and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal or qualification
of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating agency confirmation
may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the
Certificates).


 


Further, the Depositor, the Master
Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer and the
Trustee, at any time and from time to time, without the consent of the Certificateholders or, if applicable, the Serviced Companion
Loan Noteholders, may amend this Agreement to modify, eliminate or add to any of its provisions (i) to such extent as shall
be necessary to maintain the qualification of the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC, or to prevent the imposition
of any additional material state or local taxes, at all times that any Certificates are outstanding; provided that such
action, as evidenced by an Opinion of Counsel (obtained at the expense of the Trust Fund), is necessary or helpful to maintain
such qualification or to prevent the imposition of any such taxes, and would not adversely affect in any material respect the interest
of any


 






    	-457-



    	 



    

 


Certificateholder or if applicable, any Serviced Companion Loan Noteholder or (ii) to the extent necessary to comply
with the Investment Company Act of 1940, as amended, the Exchange Act, Regulation AB, and/or any related regulatory actions and/or
interpretations.


 


If neither the Depositor nor any successor
thereto, if any, is in existence, any amendment under this Section 12.08 shall be effective with the consent of the Trustee,
the Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer, the Master Servicer and the Special Servicer,
in writing, and to the extent required by this Section 12.08, the Certificateholders and Serviced Companion Loan Noteholders.


 


It shall not be necessary for the consent
of Certificateholders under this Section 12.08 to approve the particular form of any proposed amendment, but it shall be
sufficient if such consent shall approve the substance thereof. The method of obtaining such consents and of evidencing the authorization
of the execution thereof by Certificateholders and, if applicable, Serviced Companion Loan Noteholders, shall be subject to such
reasonable regulations as the Trustee may prescribe; provided, that such method shall always be by affirmation and in writing.


 


Notwithstanding any contrary provision
of this Agreement, no amendment shall be made to this Agreement or any Custodial Agreement unless the Trustee and the Certificate
Administrator have received an Opinion of Counsel, at the expense of the Trust Fund (and, in the case of any Whole Loan, any such
expense shall be allocated in accordance with the expense allocation provision of the related Intercreditor Agreement) confirming
that such amendment is authorized or permitted by this Agreement and that all conditions precedent with respect thereto have been
satisfied, respectively, hereunder and such amendment will not cause the Lower-Tier REMIC or the Upper-Tier REMIC to fail to qualify
as a REMIC at any time that any Certificates are outstanding, or cause a tax to be imposed on the Trust Fund or any such Trust
REMIC.


 


Prior to the execution of any amendment
to this Agreement or any Custodial Agreement, the Trustee, the Certificate Administrator, the Operating Advisor, the Asset Representations
Reviewer, the Special Servicer and the Master Servicer may request and shall be entitled to rely conclusively upon an Opinion of
Counsel and an Officer’s Certificate, at the expense of the party requesting such amendment (or, if such amendment is required
to maintain the rating issued by any Rating Agency or requested by the Trustee for any purpose described in clauses (i), (ii) or
(iii) of the first sentence of this Section 12.08 (which do not modify or otherwise relate solely to the obligations,
duties or rights of the Trustee), then at the expense of the Trust Fund (and, in the case of any Whole Loan, any such expense shall
be allocated in accordance with the expense allocation provision of the related Intercreditor Agreement)) confirming that the execution
of such amendment is authorized or permitted by this Agreement and that all conditions precedent with respect thereto have been
satisfied. The Trustee, the Certificate Administrator, the Operating Advisor or the Asset Representations Reviewer may, but shall
not be obligated to, enter into any such amendment which affects the Trustee’s, the Certificate Administrator’s, the
Operating Advisor’s or the Asset Representations Reviewer’s own rights, duties or immunities under this Agreement.


 


Notwithstanding any contrary provision
contained in this Agreement, no amendment shall be made to this Agreement (i) which adversely affects the rights, including (without
limitation) as a third-party beneficiary hereunder, and/or obligations (including, without limitation, in the case of a Mortgage
Loan Seller, under the related Mortgage Loan Purchase


 






    	-458-



    	 



    

 


Agreement) of any Mortgage Loan Seller, Initial Purchaser or Underwriter
without the written consent of such Mortgage Loan Seller, Initial Purchaser or Underwriter, as applicable or (ii) which adversely
affects (as determined by the applicable Companion Loan Noteholder in good faith) the rights and/or obligations of any Companion
Loan Noteholder without the written consent of such Companion Loan Noteholder.


 


Promptly after the execution of any
amendment to this Agreement, the Certificate Administrator shall post a copy of the same to the Certificate Administrator’s
Website, deliver a copy of the same to the 17g-5 Information Provider who shall post a copy of the same on the 17g-5 Information
Provider’s Website pursuant to Section 3.14(d) of this Agreement, and thereafter, the Certificate Administrator
shall furnish written notification of the substance of such amendment to each Certificateholder, the Depositor, the Master Servicer
(who shall promptly forward such notification to each Serviced Companion Loan Holder, Other Depositor, Other Servicer, Other Special
Servicer and Other Trustee), the Special Servicer, the Operating Advisor, the Asset Representations Reviewer, the Trustee, each
Mortgage Loan Seller, the Underwriters and the Initial Purchasers.


 


Section 12.09     Confirmation
of Intent. It is the express intent of the parties hereto that the conveyance of the Trust Fund (including the Mortgage
Loans) by the Depositor to the Trustee on behalf of Certificateholders as contemplated by this Agreement be treated for all purposes
as a sale by the Depositor of the Trust Fund to the Trustee. It is, further, not the intention of the parties that such conveyance
be deemed a pledge of the Trust Fund by the Depositor to the Trustee to secure a debt or other obligation of the Depositor. However,
if, notwithstanding the intent of the parties, the Trust Fund is held to continue to be property of the Depositor then (a) this
Agreement shall also be deemed to be a security agreement under applicable law; (b) the transfer of the Trust Fund provided
for herein shall be deemed to be a grant by the Depositor to the Trustee on behalf of Certificateholders of a first priority security
interest in, and the Depositor hereby grants to the Trustee a security interest in, all of the Depositor’s right, title
and interest in and to, whether now owned or existing or hereafter acquired or arising, the property identified in clauses (i)
through (xiv) of the definition of “Trust Fund” and all proceeds thereof; (c) the possession by the Trustee
(or the Custodian on its behalf) of Mortgage Notes and such other items of property as constitute instruments, money, negotiable
documents or chattel paper shall be deemed to be “possession by the secured party” for purposes of perfecting the
security interest pursuant to Section 9-313 of the New York Uniform Commercial Code; and (d) notifications to Persons
holding such property, and acknowledgments, receipts or confirmations from Persons holding such property, shall be deemed notifications
to, or acknowledgments, receipts or confirmations from, financial intermediaries, bailees or agents (as applicable) of the Trustee
for the purpose of perfecting such security interest under applicable law. The Depositor shall, and upon the request and direction
of the Master Servicer, the Trustee shall, to the extent consistent with this Agreement (and at the expense of the Trust Fund
(and, in the case of any Whole Loan, such expense shall be allocated in accordance with the expense allocation provision of the
related Intercreditor Agreement)), take such actions as may be necessary to ensure that such security interest is a perfected
security interest of first priority under applicable law and will be maintained as such throughout the term of this Agreement.
It is the intent of the parties that such a security interest would be effective whether any of the Certificates are sold, pledged
or assigned.


 






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Section 12.10     No
Intended Third-Party Beneficiaries. Except as specified in Section 12.12 of this Agreement, no Person other than
a party to this Agreement, any Mortgage Loan Seller, any Initial Purchaser, any Underwriter or any Certificateholder shall have
any rights with respect to the enforcement of any of the rights or obligations hereunder. Without limiting the foregoing and for
the avoidance of doubt, subject to Section 12.12 of this Agreement, the parties to this Agreement specifically state that
no Borrower, Manager or other party to a Mortgage Loan is an intended third-party beneficiary of this Agreement.


 


Section 12.11     Entire
Agreement. This Agreement (and, with respect to each Whole Loan, together with the related Intercreditor Agreement) contains
the entire agreement and understanding between the parties hereto with respect to the subject matter hereof, and supersedes all
prior and contemporaneous agreements, understanding, inducements and conditions, express or implied, oral or written, of any nature
whatsoever with respect to the subject matter hereof. The express terms hereof control and supersedes any course of performance
or usage of the trade inconsistent with any of the terms hereof.


 


Section 12.12     Third
Party Beneficiaries. Each of the Trustee, the Certificate Administrator, the Master Servicer and the Special Servicer
acknowledge that (i) each Mortgage Loan Seller and Deutsche Bank Securities Inc. are third party beneficiaries with respect
to Section 8.05(h) of this Agreement, the obligations of any party to this Agreement to deliver information to the
17g-5 Information Provider hereunder and the obligations of the 17g-5 Information Provider to post information to the 17g-5 Information
Provider’s Website (or make available to the NRSROs the items referenced in Section 3.13(c) and (d)) and the
express obligations of any party hereto to deliver documents, notices, information or funds to a Mortgage Loan Seller, (ii) each
Mortgage Loan Seller is a third party beneficiary with respect to Section 2.01, Section 2.02, Section 2.03,
Section 3.33, Section 8.05, Section 11.01 and Section 12.08 of this Agreement and its rights as a
Privileged Person, (iii) each Initial Purchaser and each Underwriter is a third party beneficiary with respect to its rights
to receive any notices, documents, certifications and/or information hereunder and its rights under Section 12.08 of this
Agreement, (iv) each holder of a Companion Loan and any related Other Depositor is an intended third party beneficiary in
respect of the rights afforded it under this Agreement and may directly (or, in the case of a holder of a Companion Loan, the
related Other Servicer may) enforce such rights, (v) each of the Serviced Companion Loan Service Providers under the applicable
Other Pooling and Servicing Agreement is an intended third party beneficiary under this Agreement with respect to any provision
herein expressly relating to compensation, reimbursement or indemnification of such Serviced Companion Loan Service Provider and
the provisions regarding the coordination of Advances and (vi) each of the Non-Serviced Mortgage Loan Service Providers under
the applicable Other Pooling and Servicing Agreement is an intended third party beneficiary under this Agreement with respect
to any provisions herein relating to (1) the reimbursement of any nonrecoverable advances made with respect to the applicable
Non-Serviced Mortgage Loan by such Persons, (2) the indemnification of each applicable Other Servicer, Other Special Servicer
and Other Trustee pursuant to Section 1.04 of this Agreement against any claims, losses, penalties, fines, forfeitures,
legal fees and related costs, judgments and any other costs, liabilities, fees and expenses incurred in connection with the related
Other Pooling and Servicing Agreement and this Agreement that relate solely to its servicing of the related Whole Loan and any
related reimbursement provisions, (3) the provisions


 






    	-460-



    	 



    

 


set forth in Section 4.07(e) of this Agreement regarding
advancing coordination and (4) the provisions set forth in Sections 3.29 and 6.07, as applicable, of this Agreement.


 


Section 12.13     PNC
Bank, National Association. PNC Bank, National Association, by execution hereof by its division, Midland Loan Services,
a Division of PNC Bank, National Association, acknowledges and agrees that this Agreement is binding upon and enforceable against
PNC Bank, National Association to the full extent of the obligations set forth herein with respect to Midland Loan Services, a
Division of PNC Bank, National Association.


 


[NO FURTHER TEXT ON THIS PAGE]


 






    	-461-



    	 



    

 


IN WITNESS WHEREOF, the Depositor,
the Master Servicer, the Special Servicer, the Trustee, the Certificate Administrator, the Operating Advisor and the Asset Representations
Reviewer have caused their names to be signed hereto by their respective officers thereunto duly authorized all as of the day
and year first above written.



 


	 	DEUTSCHE MORTGAGE & ASSET RECEIVING CORPORATION,

as Depositor	 
	 	 	 	 
	 	By:	/s/ Helaine Kaplan	 
	 	 	Name: Helaine Kaplan	 
	 	 	Title: Managing Director	 
	 	 	 	 
	 	By:	/s/ Matt Smith	 
	 	 	Name: Matt Smith	 
	 	 	Title: Director	 
	 	 	 	 


	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,	 
	 	 	 	 
	 	 	as Master Servicer	 
	 	 	 	 
	 	By:	/s/ Marcus Thomas	 
	 	 	Name: Marcus Thomas	 
	 	 	Title: Director	 
	 	 	 	 


	 	MIDLAND LOAN SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION,	 
	 	 	as Special Servicer	 
	 	 	 	 
	 	By:	/s/ David D. Spotts	 
	 	 	Name: David D. Spotts	 
	 	 	Title: Senior Vice President	 


 


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	 	Wilmington Trust, National Association,	 
	 	 	as Trustee	 
	 	 	 	 
	 	By:	/s/ Adam B. Scozzafava	 
	 	 	Name: Adam B. Scozzafava	 
	 	 	Title: Vice President	 
	 	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,

as Certificate Administrator, Paying Agent and Custodian	 
	 	 	 	 
	 	By:	/s/ Amber Nelson	 
	 	 	Name: Amber Nelson	 
	 	 	Title: Assistant Vice President	 



 


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	 	PARK BRIDGE LENDER SERVICES LLC,

as Operating Advisor and as Asset Representations Reviewer	 
	 	 	 	 
	 	By:	Park Bridge Advisors LLC	 
	 	 	Its Sole Member	 
	 	 	 	 	 
	 	 	By:	Park Bridge Financial LLC	 
	 	 	 	Its Sole Member	 
	 	 	 	 	 	 
	 	 	 	By:	/s/ David M. Rodgers	 
	 	 	 	 	Name: David M. Rodgers	 
	 	 	 	 	Title: Managing Member	 



 


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	STATE OF New York	)	 
	 	:   ss.:  	 
	COUNTY OF New York	)	 



 


On
the 18th day of April in the year 2016, before me, the undersigned, personally appeared Helaine Kaplan &  Matt
Smith, personally known to me or proved to me on the basis of satisfactory evidence to be the individual(s) whose name(s) is
(are) subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their
capacity(ies), and that by his/her/their signature(s) on the instrument, the individual(s), or the person upon behalf of
which the individual(s) acted, executed the instrument, and that such individual made such appearance before the undersigned
in the New York (insert the city or other political subdivision and the state or county or other place the acknowledgment was
taken).


 


	 	 	/s/ Christine L. Last
	 	 	Signature and Office of individual
taking acknowledgment



 


	This instrument prepared by:	Christine L. Last

Notary Public - State of New York

No. 01LA6274862

Qualified in New York Country

My Commission Expires January 14, 2017



 

	Name:	Cadwalader, Wickersham & Taft LLP
	Address:	200 Liberty Street 

New York, New York 10281



 


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	STATE OF NORTH CAROLINA	)	 
	 	):  ss.  	 
	COUNTY OF MECKLENBURG	)	 


 


On this 8 day of April, 2016,
personally appeared before me Marcus Thomas, to me known (or proved to me on the basis of satisfactory evidence) to be a Director
of Wells Fargo Bank, National Association, a national banking association, that executed the within and foregoing instrument, and
acknowledged that said instrument to be the free and voluntary act and deed of said entity, for the uses and purposes therein mentioned,
and on oath stated that she was authorized to execute said instrument, and that by her signature on the instrument the entity upon
behalf of which she acted, executed the instrument.


 


	 	 	/s/ Erica L. Smith
	 	 	Notary

Name:





 





	My
Commission expires:	ERICA
L. SMITH

NOTARY PUBLIC 

Gaston County 

North Carolina 

My Commission Expires 7/15/2017	 
	 	 	 






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	STATE OF KANSAS	)	 
	 	:   ss.:  	 
	COUNTY OF JOHNSON	)	 


 


On the 7th day of April
in the year 2016, before me, the undersigned, personally appeared David D. Spotts, personally known to me or proved to me on the
basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument and acknowledged to me that
he executed the same in his capacity, and that by his signature on the instrument, the individual, or the person upon behalf of
which the individual acted, executed the instrument, and that such individual made such appearance before the undersigned in the
city of Overland Park.


 


	 	 	/s/ Brent Kinder
	 	 	Signature and Office of individual
taking acknowledgment


 


This instrument prepared
by:


 


	Name:
Address:
      
	Cadwalader, Wickersham & Taft LLP

    200 Liberty Street 
New York, New York 10281	BRENT
    KINDER

    NOTARY PUBLIC - State of Kansas

    My Appt. Exp. January 30, 2018




 


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	STATE OF Delaware	)	 
	 	:   ss.:  	 
	COUNTY OF New Castle	)	 


 


On the
5th day of April in the year 2016, before me, the undersigned, personally appeared Adam B. Scozzafava,
personally known to me or proved to me on the basis of satisfactory evidence to be the individual(s) whose name(s) is (are) subscribed
to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their capacity(ies), and that by
his/her/their signature(s) on the instrument, the individual(s), or the person upon behalf of which the individual(s) acted, executed
the instrument, and that such individual made such appearance before the undersigned in the Wilmington, Delaware (insert
the city or other political subdivision and the state or county or other place the acknowledgment was taken).


 





	 	 	/s/ Christina M Bader
	 	 	Signature and Office of individual
taking acknowledgment


 


This instrument prepared
by:


 





	Name:

Address:
      
	Cadwalader, Wickersham & Taft LLP

    200 Liberty Street 
 New York, New York 10281	CHRISTINA
    M BADER

    NOTARY PUBLIC  STATE OF DELAWARE

    My Commission Expires: 4-15-2018


 


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	State of: Maryland	)	 
	 	)           ss:  	 
	County of: Howard	)	 


 


On the
6th day of April, 2016, before me, a notary public in and for said State, personally appeared Amber Nelson, known to me to be an
Assistant Vice President of Wells Fargo Bank, N.A., one of the corporations that executed the within instrument, and also know
to me to be the person who executed it on behalf of said corporation, and acknowledged to me that such corporation executed the
within instrument.


 


IN WITNESS
WHEREOF, I have hereunto set my hand and affixed my official seal the day and year in this certificate first above written.


 


	 	 	/s/ Amy Martin
	 	 	Notary Public
	 	 	 
	 	 	AMY MARTIN 

NOTARY PUBLIC


ANNE ARUNDEL COUNTY 

MARYLAND 

My Commission Expires 2-22-2017







 


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	STATE OF NEW JERSEY	)	 
	 	)         ss:  	 
	COUNTY OF ESSEX	)	 


 


I CERTIFY
that on April 7, 2016, David M. Rodgers, personally came before me and he acknowledged under oath, to my satisfaction, that he
is the Managing Member of Park Bridge Financial LLC, which is the sole member of Park Bridge Advisors LLC, which in turn is the
sole member of Park Bridge Lender Services LLC, a limited liability company, that he is the person named in and who executed the
within instrument, that he signed and delivered this document as the voluntary act and deed of the said limited liability company


 


WITNESS
my hand and seal hereto affixed the day and year first above written.


 


	 	 	/s/
Peter James Ackermann
	 	 	Notary Public
	 	 	 
	PETER JAMES ACKERMANN

NEW JERSEY,

NOTARY PUBLIC

COMM. EXP. JUNE 08, 2019	 	 
	(Affix Notary Stamp Above)	 	 



 


	My Commission expires:  	June 8, 2019	 
	 	(Date)	 


 



    	 



    	 



    

 


 







 


 


EXHIBIT A-1


 


FORM OF CLASS A-1 CERTIFICATE


 


[UNLESS THIS CERTIFICATE IS PRESENTED BY AN
AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE
REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &
CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]1


 


THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION
OF OR INTEREST IN THE DEPOSITOR, THE ORIGINATOR, THE MASTER SERVICER, THE SPECIAL SERVICER, THE CERTIFICATE ADMINISTRATOR, THE
CERTIFICATE REGISTRAR, THE OPERATING ADVISOR, THE ASSET REPRESENTATIONS REVIEWER, THE TRUSTEE OR ANY OF THEIR RESPECTIVE AFFILIATES.
NEITHER THE CERTIFICATES NOR THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY.


 


PRINCIPAL PAYMENTS ON THIS CERTIFICATE ARE PAYABLE
IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.


 


FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE
REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE TERMS ARE DEFINED,
RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED.


 





 



 


1 Legend
required as long as DTC is the Depository under the Pooling and Servicing Agreement.


 






    	A-1-1



    	 



    

 


DBJPM 2016-C1 MORTGAGE TRUST COMMERCIAL MORTGAGE

PASS-THROUGH CERTIFICATES, CLASS A-1


 


	Class A-1 Pass-Through Rate: 1.676%	 	
        CUSIP:23312LAN8

         

        ISIN:    US23312LAN82 

	Original Aggregate Certificate Balance of the

Class A-1 Certificates: $28,858,000	 	Initial Certificate Balance of this Certificate: $28,858,000
	First Distribution Date: May 12, 2016	 	Cut-off Date: The close of business on the later of the related due date for each Mortgage Loan in April 2016 and the date of origination of such Mortgage Loan
	Assumed Final Distribution Date: March 2021	 	No.: A-1-[_]


 


This certifies that [_______]
is the registered owner of a beneficial ownership interest in a Trust Fund, including the distributions to be made with respect
to the Class A-1 Certificates. The Trust Fund, described more fully below, consists primarily of a pool of Mortgage Loans secured
by first liens on commercial, multifamily and manufactured housing community properties and held in trust by the Trustee and serviced
by the Master Servicer. The Trust Fund was created, and the Mortgage Loans are to be serviced, pursuant to the Pooling and Servicing
Agreement (as defined below). The Holder of this Certificate, by virtue of the acceptance hereof, assents to the terms, provisions
and conditions of the Pooling and Servicing Agreement and is bound thereby.


 


The Pooling and Servicing Agreement,
dated as of April 1, 2016 (the “Pooling and Servicing Agreement”), between the Depositor, Wells Fargo Bank,
National Association, as master servicer (in such capacity, the “Master Servicer”), Midland Loan Services, a
Division of PNC Bank, National Association, as special servicer (the “Special Servicer”), Wilmington Trust,
National Association, as trustee (the “Trustee”), Wells Fargo Bank, National Association, as certificate administrator
(in such capacity, the “Certificate Administrator”), paying agent and custodian, Park Bridge Lender Services
LLC, as operating advisor (in such capacity, the “Operating Advisor”),
and Park Bridge Lender Services LLC, as asset representations reviewer (in such
capacity, the “Asset Representations Reviewer”) evidences the issuance of the Class A-1, Class A-2, Class A-SB,
Class A-3A, Class A-4, Class X-A, Class A-M, Class B, Class C, Class A-3B, Class X-B, Class X-C, Class X-D, Class X-E, Class X-F,
Class D, Class E, Class F, Class G, Class H and Class R Certificates (the “Certificates”; the Holders of Certificates
issued under the Pooling and Servicing Agreement are collectively referred to herein as “Certificateholders”).
This Certificate is issued pursuant to, and in accordance with, the terms of the Pooling and Servicing Agreement. To the extent
not defined herein, capitalized terms used herein shall have the meanings assigned thereto in the Pooling and Servicing Agreement.


 



    	A-1-2



    	 



    

 





This Certificate represents a
“regular interest” in a “real estate mortgage investment conduit”, as those terms are defined, respectively,
in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this Certificate, by acceptance
hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in accordance with the preceding
sentence for purposes of federal income taxes, state and local income and franchise taxes and other taxes imposed on or measured
by income.


 


The Certificate Administrator
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Mortgage Loans and has executed this Certificate in its limited capacity as Certificate Administrator under the Pooling
and Servicing Agreement. In the event that there is any conflict between any provision of this Certificate and any provision of
the Pooling and Servicing Agreement, such provision of this Certificate shall be superseded to the extent of such inconsistency.


 


Pursuant to the terms of the
Pooling and Servicing Agreement, the Certificate Administrator, or the Paying Agent on behalf of the Certificate Administrator,
will distribute (other than the final distribution on any Certificate), on the fourth Business Day after each Determination Date
(each such date, a “Distribution Date”) an amount equal to such Person’s pro rata share (based on the
Percentage Interest represented by this Certificate) of that portion of the aggregate amount of principal and interest then distributable,
if any, allocable to the Class A-1 Certificates for such Distribution Date, all as more fully described in the Pooling and Servicing
Agreement. “Determination Date” is defined in the Pooling and Servicing Agreement as the sixth day of each month, or
if such sixth day is not a Business Day, then the next Business Day, commencing in May 2016. Holders of this Certificate may be
entitled to Prepayment Premiums and Yield Maintenance Charges as provided in the Pooling and Servicing Agreement.


 


During each Interest Accrual
Period (as defined below), interest on the Class A-1 Certificates will be calculated based on a 360-day year consisting of twelve
30-day months on the outstanding Certificate Balance hereof.


 


Interest accrued on this Certificate
during an Interest Accrual Period, plus the aggregate unpaid Interest Shortfall with respect to this Certificate, if any, will
be payable on the related Distribution Date to the extent provided in the Pooling and Servicing Agreement. The “Interest
Accrual Period” means, with respect to any Distribution Date, the calendar month immediately preceding the month in which
such Distribution Date occurs. Each Interest Accrual Period is assumed to consist of 30 days.


 


All distributions (other than
the final distribution on any Certificate) will be made by the Paying Agent to the Persons in whose names the Certificates are
registered at the close of business on each Record Date, which will be the close of business on the last Business Day of the calendar
month preceding the month in which such Distribution Date occurs. Such distributions shall be made on each Distribution Date other
than the Termination Date to each Certificateholder of record on the related Record Date, (i) by wire transfer of immediately available
funds to the account of such Holder at a bank or other entity located in the United States and having appropriate facilities therefor
if such Holder shall have provided the Paying Agent with wire instructions in writing at least five Business Days prior to the
related Record


 



    	A-1-3



    	 



    

 


Date (which wiring instructions may be in the form of a standing order applicable to all subsequent distributions),
or (ii) otherwise, by check mailed by first-class mail to the address set forth therefor in the Certificate Register. The final
distribution on each Certificate shall be made in like manner, but only upon presentment and surrender of such Certificate at the
office of the Certificate Administrator or its agent (which may be the Paying Agent or the Certificate Registrar acting as such
agent) that is specified in the notice to Holders of such final distribution.


 


Any funds not distributed on
the Termination Date because of the failure of any Certificateholders to tender their Certificates shall, on such date, be set
aside and held for the benefit of the appropriate non-tendering Certificateholders. If any Certificates as to which notice of the
Termination Date has been given pursuant to the Pooling and Servicing Agreement shall not have been surrendered for cancellation
within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders to surrender their Certificates for cancellation to receive the final distribution with respect
thereto. If within one year after the second notice not all of such Certificates shall have been surrendered for cancellation,
the Certificate Administrator may, directly or through an agent, take appropriate steps to contact the remaining non-tendering
Certificateholders concerning surrender of their Certificates. The costs and expenses of holding such funds in trust and of contacting
such Certificateholders shall be paid out of such funds. Subject to applicable state escheatment laws, if within two years after
the second notice any such Certificates shall not have been surrendered for cancellation, the Paying Agent shall distribute to
the Certificate Administrator all amounts distributable to the Holders thereof, and the Certificate Administrator shall thereafter
hold such amounts for the benefit of such Holders until the earlier of (i) its termination as Certificate Administrator under the
Pooling and Servicing Agreement and the transfer of such amounts to a successor Certificate Administrator and (ii) the termination
of the Trust Fund and distribution of such amounts to the Class R Certificateholders. No interest shall accrue or be payable to
any Certificateholder on any amount held under the Pooling and Servicing Agreement or by the Certificate Administrator as a result
of such Certificateholder’s failure to surrender its Certificate(s) for final payment thereof in accordance with the Pooling
and Servicing Agreement. Any such amounts transferred to the Certificate Administrator may be invested in Permitted Investments
and all income and gain realized from investment of such funds shall accrue for its benefit.


 


This Certificate is limited in
right of payment to, among other things, certain collections and recoveries in respect of the Mortgage Loans, as more specifically
set forth herein and in the Pooling and Servicing Agreement.


 


As provided in the Pooling and
Servicing Agreement, the Trust Fund includes (in each case, to the extent of the Trust Fund’s interest therein and specifically
excluding any interest of any Serviced Companion Loan Noteholder therein): (i) such Mortgage Loans as from time to time are subject
to the Pooling and Servicing Agreement, together with the Mortgage Files relating thereto; (ii) all scheduled or unscheduled payments
on or collections in respect of the Mortgage Loans due after the Cut-off Date; (iii) the Trust Fund’s interest in any REO
Property; (iv) all revenues received in respect of any REO Property; (v) any Assignments of Leases, Rents and Profits and any security
agreements related to the Mortgage Loans; (vi) any indemnities or guaranties given as additional security for any Mortgage Loans;
(vii) a security


 



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interest in all assets deposited in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts, and Reserve
Accounts; (viii) the Loss of Value Reserve Fund; (ix) the Collection Account, the Serviced Whole Loan Collection Accounts, the
Distribution Accounts, any Gain-on-Sale Reserve Account, the Interest Reserve Account, and the Trust’s interest in any REO
Account, including any amounts on deposit therein, assets credited thereto and any reinvestment income, as applicable; (x) a security
interest in any environmental indemnity agreements relating to the Mortgaged Properties; (xi) a security interest in all insurance
policies with respect to the Mortgage Loans and the Mortgaged Properties; (xii) the rights and remedies under the Mortgage Loan
Purchase Agreements relating to document delivery requirements with respect to the Mortgage Loans and the representations and warranties
of the related Mortgage Loan Seller regarding its Mortgage Loans; (xiii) the Lower-Tier Regular Interests and (xiv) the proceeds
of the foregoing (other than any interest earned on deposits in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts
and any Reserve Accounts, to the extent such interest belongs to the related Borrower). As provided in the Pooling and Servicing
Agreement, withdrawals may be made from certain of the above accounts for purposes other than distributions to Certificateholders.


 


This Certificate does not purport
to summarize the Pooling and Servicing Agreement, and reference is made to the Pooling and Servicing Agreement for the interests,
rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and immunities of
the Certificate Administrator.


 


As provided in the Pooling and
Servicing Agreement and subject to certain limitations set forth therein, this Certificate is transferable or exchangeable only
upon surrender of this Certificate to the Certificate Registrar at its offices together with an assignment and transfer (executed
by the Holder or his duly authorized attorney), subject to the requirements in Article V of the Pooling and Servicing Agreement.
Upon surrender for registration of transfer of this Certificate, subject to the requirements Article V of the Pooling and Servicing
Agreement, the Certificate Administrator shall execute and the Authenticating Agent shall duly authenticate in the name of the
designated transferee or transferees, one or more new Certificates in authorized denominations of a like aggregate denomination
as the Certificate being surrendered. Such Certificates shall be delivered by the Certificate Registrar in accordance with Article
V of the Pooling and Servicing Agreement.


 


Prior to due presentation of
this Certificate for registration of transfer, the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor,
the Asset Representations Reviewer, the Certificate Administrator, the Trustee, the Certificate Registrar, any Paying Agent and
any agent of any of them may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes,
and none of the Depositor, the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Certificate
Registrar, any Paying Agent or any agent of any of them shall be affected by notice or knowledge to the contrary.


 


No fee or service charge shall
be imposed by the Certificate Registrar for its services in respect of any registration of transfer or exchange referred to in
Section 5.02 of the Pooling and Servicing Agreement other than for transfers to Institutional Accredited Investors as


 



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provided
in Section 5.02(h) of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional Accredited Investor,
the transferor shall reimburse the Trust Fund for any costs (including the cost of the Certificate Registrar’s counsel’s
review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar as provided
in the Pooling and Servicing Agreement) incurred by the Certificate Registrar in connection with such transfer. The Certificate
Registrar may require payment by each transferor of a sum sufficient to cover any tax, expense or other governmental charge payable
in connection with any such transfer.


 


The Pooling and Servicing Agreement
or any Custodial Agreement may be amended at any time by the Depositor, the Master Servicer, the Special Servicer, the Certificate
Administrator, the Operating Advisor, the Asset Representations Reviewer and the Trustee without the consent of any of the Certificateholders
or any Serviced Companion Loan Noteholders, (i) to cure any ambiguity or to correct any manifest error; (ii) to cause the provisions
of the Pooling and Servicing Agreement or any Custodial Agreement to conform or be consistent with or in furtherance of the statements
made in the Prospectus or Private Placement Memorandum with respect to the Certificates, the Trust or the Pooling and Servicing
Agreement or to correct or supplement any provisions of the Pooling and Servicing Agreement or any Custodial Agreement which may
be defective or inconsistent with any other provisions of the Pooling and Servicing Agreement or any Custodial Agreement; (iii)
to change the timing and/or nature of deposits in the Collection Account, the Distribution Accounts or any REO Account; provided
that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment; (iv) to modify, eliminate or add to any of its provisions to such extent
as shall be necessary to maintain the qualification of any Trust REMIC as a REMIC under the relevant provisions of the Code at
all times that any Certificate is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust Fund or any
Trust REMIC that would be a claim against the Trust Fund or any Trust REMIC; provided that the Trustee and the Certificate
Administrator have received an Opinion of Counsel (at the expense of the party requesting such amendment) to the effect that (a)
such action is necessary or desirable to maintain such qualification or to avoid or minimize the risk of the imposition of any
such tax and (b) such action will not adversely affect in any material respect the interests of any Certificateholder or Companion
Loan Noteholder; (v) to modify, eliminate or add to the provisions any provision hereof restricting transfer of the Class R Certificates;
provided the Depositor has determined that such change shall not, as evidenced by an Opinion of Counsel, cause the Trust
Fund, any Trust REMIC or any of the Certificateholders (other than the Transferor) to be subject to a federal tax caused by a Transfer
to a Person that is a Disqualified Organization or a Non-U.S. Tax Person; (vi) to revise or add any other provisions with respect
to matters or questions arising under this Agreement or any other change; provided that the required action shall not adversely
affect in any material respect the interests of any Certificateholder or any holder of a Serviced Pari Passu Companion Loan not
consenting thereto as evidenced in writing by an Opinion of Counsel, at the expense of the party requesting such amendment or as
evidenced by a Rating Agency Confirmation from each of the Rating Agencies with respect to such amendment or supplement and confirmation
of the applicable rating


 



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agencies that such action will not result in the downgrade, withdrawal or qualification of its then-current
ratings of any securities related to a Companion Loan, if any (provided that such rating agency confirmation may be considered
satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates); (vii)
to amend or supplement any provision hereof to the extent necessary to maintain the then-current ratings assigned to each Class
of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of the Rating Agencies and confirmation
of the applicable rating agencies that such action will not result in the downgrade, withdrawal or qualification of its then-current
ratings of any securities related to a Companion Loan, if any (provided that such rating agency confirmation may be considered
satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates); provided
that such amendment or supplement shall not adversely affect in any material respect the interests of any Certificateholder not
consenting thereto as evidenced by an Opinion of Counsel; (viii) to modify the provisions of Section 3.06 and Section
3.17 of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable Advances and Workout-Delayed Reimbursement
Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as a Control Termination Event has not occurred
and is not continuing, the Directing Certificateholder, determine that the commercial mortgage backed securities industry standard
for such provisions has changed, in order to conform to such industry standard, (b) such modification does not adversely affect
the status of any Trust REMIC as a REMIC under the relevant provisions of the Code, as evidenced by an Opinion of Counsel and (c)
each Rating Agency has delivered a Rating Agency Confirmation and, with regard to any class of Serviced Companion Loan Securities,
the applicable rating agencies have delivered a confirmation that such action will not result in the downgrade, withdrawal or qualification
of its then-current ratings (provided that such rating agency confirmation may be considered satisfied in the same manner
as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates); (ix) to modify the procedures
of this Agreement relating to compliance with Rule 17g-5 of the Exchange Act; provided that such amendment shall not adversely
affect in any material respects the interests of any Certificateholders, as evidenced by (x) an Opinion of Counsel or (y) if any
Certificate is then rated, receipt of Rating Agency Confirmation from each Rating Agency rating such Certificates; and provided,
further, that the Certificate Administrator shall give notice of any such amendment to the 17g-5 Information Provider for
posting to the 17g-5 Information Provider’s Website and the Certificate Administrator shall post such notice to the Certificate
Administrator’s Website; and (x) to modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to
such extent as would be necessary to comply with the requirements for use of Form SF-3 in registered offerings to the extent provided
in CFR 239.45(b)(1)(ii), (iii) or (iv).


 


The Pooling and Servicing Agreement
or any Custodial Agreement may also be amended from time to time by the Depositor, the Master Servicer, the Special Servicer, the
Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer and the Trustee with the prior written consent
of the Holders of Certificates representing not less than a majority of the Percentage Interests of each Class of Certificates
affected thereby (without regard to Certificates held by the Depositor, any of the Depositor’s Affiliates and/or agents)
and each Serviced Companion Loan Noteholder affected thereby for the purpose of adding any provisions to or changing in any manner
or eliminating any of the provisions of the Pooling and Servicing


 



    	A-1-7



    	 



    

 


Agreement or modifying in any manner the rights of the Certificateholders
or the Serviced Companion Loan Noteholders; provided, that no such amendment may:


 


		(i)	reduce in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans
or Subordinate Companion Loan which are required to be distributed on any Certificate, without the consent of the Holders of Certificates
representing all of the Percentage Interests of the Class or Classes affected thereby or which are required to be distributed to
any Companion Loan Noteholders without the consent of such Companion Loan Noteholders;



 


		(ii)	reduce the aforesaid percentage of Certificates of any Class the Holders of which are required
to consent to any such amendment or remove the requirement to obtain consent of any Companion Loan Noteholder, in any such case
without the consent of the Holders of all Certificates of such Class then-outstanding or such Companion Loan Noteholder, as applicable;



 


		(iii)	adversely affect the Voting Rights of any Class of Certificates without the consent of the Holders
of all Certificates of such Class then outstanding;



 


		(iv)	change in any manner any defined term used in any Mortgage Loan Purchase Agreement or the obligations
of any Mortgage Loan Seller under such Mortgage Loan Purchase Agreement or otherwise or change any rights of any Mortgage Loan
Seller as a third party beneficiary hereunder, without the consent of such Mortgage Loan Seller; or



 


		(v)	amend the Servicing Standard without the consent of 100% of the Certificateholders or receipt of
Rating Agency Confirmation from each Rating Agency and confirmation of the applicable rating agencies that such action will not
result in the downgrade, withdrawal or qualification of its then-current ratings of any securities related to a Companion Loan,
if any (provided that such rating agency confirmation may be considered satisfied in the same manner as any Rating Agency
Confirmation may be considered satisfied with respect to the Certificates).



 


Further, the Depositor, the Master
Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer and the
Trustee, at any time and from time to time, without the consent of the Certificateholders or, if applicable, the Serviced Companion
Loan Noteholders, may amend the Pooling and Servicing Agreement to modify, eliminate or add to any of its provisions (i) to such
extent as shall be necessary to maintain the qualification of the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC, or to prevent
the imposition of any additional material state or local taxes, at all times that any Certificates are outstanding; provided
that such action, as evidenced by an Opinion of Counsel (obtained at the expense of the Trust Fund), is necessary or helpful
to maintain such qualification or to prevent the imposition of any such taxes, and would not adversely affect in any material respect
the interest of any Certificateholder or if applicable, any Serviced Companion Loan


 



    	A-1-8



    	 



    

 


Noteholder or (ii) to the extent necessary
to comply with the Investment Company Act of 1940, as amended, the Exchange Act, Regulation AB, and/or any related regulatory actions
and/or interpretations.


 


The Certificateholder owning
a majority of the Percentage Interest in the Controlling Class and, if no such Certificateholder exercises such option, the Special
Servicer, and if the Special Servicer does not exercise such option, the Master Servicer may effect an early termination of the
Trust Fund, upon not less than 30 days’ prior Notice of Termination given to the Trustee, the Special Servicer and the Master
Servicer any time specifying the Anticipated Termination Date, which shall be on or after the Early Termination Notice Date (defined
as any date as of which the aggregate Stated Principal Balance of the Mortgage Loans remaining in the Trust is less than 1.0% of
the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date) by purchasing on such date all, but not less
than all, of the Mortgage Loans then included in the Trust Fund, and the Trust’s interest in all property acquired in respect
of any Mortgage Loan, at a purchase price, payable in cash, equal to the sum of, without duplication:


 


		(A)	100% of the Stated Principal Balance of each Mortgage Loan included in the Trust as of the last
day of the month preceding such Anticipated Termination Date (less any P&I Advances previously made on account of principal);



 


		(B)	the fair market value of all other property included in the Trust Fund as of the last day of the
month preceding such Anticipated Termination Date, as determined by an Independent appraiser acceptable to the Master Servicer
as of a date not more than 30 days prior to the last day of the month preceding such Distribution Date;



 


		(C)	all unpaid interest accrued on the unpaid balance of each Mortgage Loan (including any Mortgage
Loan as to which title to the related Mortgaged Property has been acquired) at the Mortgage Rate to the last day of the month preceding
such Anticipated Termination Date (less any P&I Advances previously made on account of interest); and



 


		(D)	the aggregate amount of unreimbursed
                                         Advances, with interest thereon at the Reimbursement Rate, and unpaid Servicing Compensation,
                                         Special Servicing Compensation, Operating Advisor Fees, Certificate Administrator/Trustee
                                         Fees, the CREFC® Intellectual Property Royalty License Fees and Trust
                                         Fund expenses.



 


In addition, the Pooling and
Servicing Agreement provides that following the date on which the Class X-A Notional Amount, the Class X-B Notional Amount, the
Class X-C Notional Amount and the aggregate Certificate Balance of the Class A-1, Class A-2, Class A-SB, Class A-3A, Class A-3B,
Class A-4, Class A-M, Class B, Class C and Class D Certificates is reduced to zero, the Sole Certificateholder shall have the right
to exchange all of the then-


 



    	A-1-9



    	 



    

 


outstanding Certificates (other than (i) the Class X-D, Class X-E Certificates and Class X-F Certificates
if the Sole Certificateholder has only taken an assignment of the Voting Rights of the Class X-D, Class X-E Certificates and Class
X-F Certificates pursuant to the definition of “Sole Certificateholder” and (ii) the Class R Certificates) for all
of the Mortgage Loans and each REO Property remaining in the Trust Fund as contemplated by clause (ii) of Section 9.01(a) of the
Pooling and Servicing Agreement by giving written notice to all the parties to the Pooling and Servicing Agreement no later than
60 days prior to the anticipated date of exchange.


 


All costs and expenses incurred
by any and all parties to the Pooling and Servicing Agreement or by the Trust Fund in connection with the purchase of the Mortgage
Loans and the other assets of the Trust Fund pursuant to Section 9.01(c) of the Pooling and Servicing Agreement shall be borne
by the party exercising its purchase rights thereunder. The Trustee and the Certificate Administrator shall be entitled to rely
conclusively on any determination made by an Independent appraiser pursuant to Section 9.01(c) of the Pooling and Servicing Agreement.


 


The respective obligations and
responsibilities of the Master Servicer, the Special Servicer, the Depositor, the Certificate Administrator, the Operating Advisor,
the Asset Representations Reviewer and the Trustee created by the Pooling and Servicing Agreement with respect to the Certificates
(other than the obligations of the Certificate Administrator to make certain payments and to send certain notices to Certificateholders
as set forth in the Pooling and Servicing Agreement) shall terminate upon payment (or provision for payment) to the Certificateholders
and the Serviced Companion Loan Noteholders of all amounts held by or on behalf of the Trustee, the Certificate Administrator
and the Master Servicer, as the case may be, required under the Pooling and Servicing Agreement to be so paid on the Distribution
Date following the earlier to occur of (i) the purchase of the Mortgage Loans and all other property held by the Trust Fund in
accordance with Section 9.01(c) of the Pooling and Servicing Agreement; (ii) the exchange by the Sole Certificateholder of its
Certificates for the Mortgage Loans in accordance with Section 9.01(g) of the Pooling and Servicing Agreement; and (iii) the later
of (a) the receipt or collection of the last payment due on any Mortgage Loan included in the Trust Fund, or (b) the liquidation
and disposition pursuant to the Pooling and Servicing Agreement of the last asset held by the Trust Fund; provided that
in no event shall the trust created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years from the
death of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the United Kingdom,
living on the date hereof.


 


Unless the Certificate of Authentication
on this Certificate has been executed by the Authenticating Agent, by manual signature, this Certificate shall not be entitled
to any benefit under the Pooling and Servicing Agreement or be valid for any purpose.


 






    	A-1-10



    	 



    

 


IN WITNESS WHEREOF, the Certificate
Administrator has caused this Class A-1 Certificate to be duly executed.


 


	Dated:
                                    April __, 2016
	 
	 	 
	 	WELLS FARGO BANK,
NATIONAL ASSOCIATION, not in its individual capacity but solely as Certificate Administrator

	 	 
	 	 By:	 
	 	 	Authorized Signatory




 


Certificate of Authentication


 


This is one of the Class A-1
Certificates referred to in the Pooling and Servicing Agreement.


 


	Dated: April __, 2016
	 
	 	 
	 	WELLS FARGO BANK,
NATIONAL ASSOCIATION, not in its individual capacity but solely as Authenticating Agent

	 	 
	 	 By:	 
	 	 	Authorized Signatory







 



    	A-1-11



    	 



    





 


EXHIBIT A-2


 


FORM OF CLASS A-2 CERTIFICATE


 


[UNLESS THIS CERTIFICATE IS PRESENTED BY AN
AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE
REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &
CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]1


 


THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION
OF OR INTEREST IN THE DEPOSITOR, THE ORIGINATOR, THE MASTER SERVICER, THE SPECIAL SERVICER, THE CERTIFICATE ADMINISTRATOR, THE
CERTIFICATE REGISTRAR, THE OPERATING ADVISOR, THE ASSET REPRESENTATIONS REVIEWER, THE TRUSTEE OR ANY OF THEIR RESPECTIVE AFFILIATES.
NEITHER THE CERTIFICATES NOR THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY.


 


PRINCIPAL PAYMENTS ON THIS CERTIFICATE ARE PAYABLE
IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.


 


FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE
REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE TERMS ARE DEFINED,
RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED.


 





 



 


1
Legend required as long as DTC is the Depository under the Pooling and Servicing Agreement.


 






    	A-2-1



    	 



    

  


DBJPM 2016-C1 MORTGAGE TRUST COMMERCIAL MORTGAGE

PASS-THROUGH CERTIFICATES, CLASS A-2


 


	Class A-2 Pass-Through Rate: 2.691%	 	
        CUSIP:23312LAP3

        ISIN:    US23312LAP31

        

	 	 	 
	Original Aggregate Certificate Balance of the

Class A-2 Certificates: $35,000,000	 	Initial Certificate Balance of this Certificate: $35,000,000
	 	 	 
	First Distribution Date: May 12, 2016	 	Cut-off Date: The close of business on the later of the related due date for each Mortgage Loan in April 2016 and the date of origination of such Mortgage Loan
	 	 	 
	Assumed Final Distribution Date: March 2021	 	No.: A-2-[_]


 


This certifies that [_______]
is the registered owner of a beneficial ownership interest in a Trust Fund, including the distributions to be made with respect
to the Class A-2 Certificates. The Trust Fund, described more fully below, consists primarily of a pool of Mortgage Loans secured
by first liens on commercial, multifamily and manufactured housing community properties and held in trust by the Trustee and serviced
by the Master Servicer. The Trust Fund was created, and the Mortgage Loans are to be serviced, pursuant to the Pooling and Servicing
Agreement (as defined below). The Holder of this Certificate, by virtue of the acceptance hereof, assents to the terms, provisions
and conditions of the Pooling and Servicing Agreement and is bound thereby.


 


The Pooling and Servicing Agreement,
dated as of April 1, 2016 (the “Pooling and Servicing Agreement”), between the Depositor, Wells Fargo Bank,
National Association, as master servicer (in such capacity, the “Master Servicer”), Midland Loan Services, a
Division of PNC Bank, National Association, as special servicer (the “Special Servicer”), Wilmington Trust,
National Association, as trustee (the “Trustee”), Wells Fargo Bank, National Association, as certificate administrator
(in such capacity, the “Certificate Administrator”), paying agent and custodian, Park Bridge Lender Services
LLC, as operating advisor (in such capacity, the “Operating Advisor”), and Park Bridge Lender Services
LLC, as asset representations reviewer (in such capacity, the “Asset Representations Reviewer”) evidences
the issuance of the Class A-1, Class A-2, Class A-SB, Class A-3A, Class A-4, Class X-A, Class A-M, Class B, Class C, Class A-3B,
Class X-B, Class X-C, Class X-D, Class X-E, Class X-F, Class D, Class E, Class F, Class G, Class H and Class R Certificates (the
“Certificates”; the Holders of Certificates issued under the Pooling and Servicing Agreement are collectively
referred to herein as “Certificateholders”). This Certificate is issued pursuant to, and in accordance with,
the terms of the Pooling and Servicing Agreement. To the extent not defined herein, capitalized terms used herein shall have the
meanings assigned thereto in the Pooling and Servicing Agreement.


 






    	A-2-2



    	 



    

 


This Certificate represents a
“regular interest” in a “real estate mortgage investment conduit”, as those terms are defined, respectively,
in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this Certificate, by acceptance
hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in accordance with the preceding
sentence for purposes of federal income taxes, state and local income and franchise taxes and other taxes imposed on or measured
by income.


 


The Certificate Administrator
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Mortgage Loans and has executed this Certificate in its limited capacity as Certificate Administrator under the Pooling
and Servicing Agreement. In the event that there is any conflict between any provision of this Certificate and any provision of
the Pooling and Servicing Agreement, such provision of this Certificate shall be superseded to the extent of such inconsistency.


 


Pursuant to the terms of the
Pooling and Servicing Agreement, the Certificate Administrator, or the Paying Agent on behalf of the Certificate Administrator,
will distribute (other than the final distribution on any Certificate), on the fourth Business Day after each Determination Date
(each such date, a “Distribution Date”) an amount equal to such Person’s pro rata share (based on the
Percentage Interest represented by this Certificate) of that portion of the aggregate amount of principal and interest then distributable,
if any, allocable to the Class A-2 Certificates for such Distribution Date, all as more fully described in the Pooling and Servicing
Agreement. “Determination Date” is defined in the Pooling and Servicing Agreement as the sixth day of each month, or
if such sixth day is not a Business Day, then the next Business Day, commencing in May 2016. Holders of this Certificate may be
entitled to Prepayment Premiums and Yield Maintenance Charges as provided in the Pooling and Servicing Agreement.


 


During each Interest Accrual
Period (as defined below), interest on the Class A-2 Certificates will be calculated based on a 360-day year consisting of twelve
30-day months on the outstanding Certificate Balance hereof.


 


Interest accrued on this Certificate
during an Interest Accrual Period, plus the aggregate unpaid Interest Shortfall with respect to this Certificate, if any, will
be payable on the related Distribution Date to the extent provided in the Pooling and Servicing Agreement. The “Interest
Accrual Period” means, with respect to any Distribution Date, the calendar month immediately preceding the month in which
such Distribution Date occurs. Each Interest Accrual Period is assumed to consist of 30 days.


 


All distributions (other than
the final distribution on any Certificate) will be made by the Paying Agent to the Persons in whose names the Certificates are
registered at the close of business on each Record Date, which will be the close of business on the last Business Day of the calendar
month preceding the month in which such Distribution Date occurs. Such distributions shall be made on each Distribution Date other
than the Termination Date to each Certificateholder of record on the related Record Date, (i) by wire transfer of immediately available
funds to the account of such Holder at a bank or other entity located in the United States and having appropriate facilities therefor
if such Holder shall have provided the Paying Agent with wire instructions in writing at least five Business Days prior to the
related Record Date (which wiring instructions may be in the form of a standing order applicable to all


 






    	A-2-3



    	 



    

 


subsequent distributions),
or (ii) otherwise, by check mailed by first-class mail to the address set forth therefor in the Certificate Register. The final
distribution on each Certificate shall be made in like manner, but only upon presentment and surrender of such Certificate at the
office of the Certificate Administrator or its agent (which may be the Paying Agent or the Certificate Registrar acting as such
agent) that is specified in the notice to Holders of such final distribution.


 


Any funds not distributed on
the Termination Date because of the failure of any Certificateholders to tender their Certificates shall, on such date, be set
aside and held for the benefit of the appropriate non-tendering Certificateholders. If any Certificates as to which notice of the
Termination Date has been given pursuant to the Pooling and Servicing Agreement shall not have been surrendered for cancellation
within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders to surrender their Certificates for cancellation to receive the final distribution with respect
thereto. If within one year after the second notice not all of such Certificates shall have been surrendered for cancellation,
the Certificate Administrator may, directly or through an agent, take appropriate steps to contact the remaining non-tendering
Certificateholders concerning surrender of their Certificates. The costs and expenses of holding such funds in trust and of contacting
such Certificateholders shall be paid out of such funds. Subject to applicable state escheatment laws, if within two years after
the second notice any such Certificates shall not have been surrendered for cancellation, the Paying Agent shall distribute to
the Certificate Administrator all amounts distributable to the Holders thereof, and the Certificate Administrator shall thereafter
hold such amounts for the benefit of such Holders until the earlier of (i) its termination as Certificate Administrator under the
Pooling and Servicing Agreement and the transfer of such amounts to a successor Certificate Administrator and (ii) the termination
of the Trust Fund and distribution of such amounts to the Class R Certificateholders. No interest shall accrue or be payable to
any Certificateholder on any amount held under the Pooling and Servicing Agreement or by the Certificate Administrator as a result
of such Certificateholder’s failure to surrender its Certificate(s) for final payment thereof in accordance with the Pooling
and Servicing Agreement. Any such amounts transferred to the Certificate Administrator may be invested in Permitted Investments
and all income and gain realized from investment of such funds shall accrue for its benefit.


 


This Certificate is limited in
right of payment to, among other things, certain collections and recoveries in respect of the Mortgage Loans, as more specifically
set forth herein and in the Pooling and Servicing Agreement.


 


As provided in the Pooling and
Servicing Agreement, the Trust Fund includes (in each case, to the extent of the Trust Fund’s interest therein and specifically
excluding any interest of any Serviced Companion Loan Noteholder therein): (i) such Mortgage Loans as from time to time are subject
to the Pooling and Servicing Agreement, together with the Mortgage Files relating thereto; (ii) all scheduled or unscheduled payments
on or collections in respect of the Mortgage Loans due after the Cut-off Date; (iii) the Trust Fund’s interest in any REO
Property; (iv) all revenues received in respect of any REO Property; (v) any Assignments of Leases, Rents and Profits and any security
agreements related to the Mortgage Loans; (vi) any indemnities or guaranties given as additional security for any Mortgage Loans;
(vii) a security interest in all assets deposited in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts, and Reserve
Accounts; (viii) the Loss of Value Reserve Fund; (ix) the Collection


 






    	A-2-4



    	 



    

 


Account, the Serviced Whole Loan Collection Accounts, the
Distribution Accounts, any Gain-on-Sale Reserve Account, the Interest Reserve Account, and the Trust’s interest in any REO
Account, including any amounts on deposit therein, assets credited thereto and any reinvestment income, as applicable; (x) a security
interest in any environmental indemnity agreements relating to the Mortgaged Properties; (xi) a security interest in all insurance
policies with respect to the Mortgage Loans and the Mortgaged Properties; (xii) the rights and remedies under the Mortgage Loan
Purchase Agreements relating to document delivery requirements with respect to the Mortgage Loans and the representations and warranties
of the related Mortgage Loan Seller regarding its Mortgage Loans; (xiii) the Lower-Tier Regular Interests and (xiv) the proceeds
of the foregoing (other than any interest earned on deposits in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts
and any Reserve Accounts, to the extent such interest belongs to the related Borrower). As provided in the Pooling and Servicing
Agreement, withdrawals may be made from certain of the above accounts for purposes other than distributions to Certificateholders.


 


This Certificate does not purport
to summarize the Pooling and Servicing Agreement, and reference is made to the Pooling and Servicing Agreement for the interests,
rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and immunities of
the Certificate Administrator.


 


As provided in the Pooling and
Servicing Agreement and subject to certain limitations set forth therein, this Certificate is transferable or exchangeable only
upon surrender of this Certificate to the Certificate Registrar at its offices together with an assignment and transfer (executed
by the Holder or his duly authorized attorney), subject to the requirements in Article V of the Pooling and Servicing Agreement.
Upon surrender for registration of transfer of this Certificate, subject to the requirements Article V of the Pooling and Servicing
Agreement, the Certificate Administrator shall execute and the Authenticating Agent shall duly authenticate in the name of the
designated transferee or transferees, one or more new Certificates in authorized denominations of a like aggregate denomination
as the Certificate being surrendered. Such Certificates shall be delivered by the Certificate Registrar in accordance with Article
V of the Pooling and Servicing Agreement.


 


Prior to due presentation of
this Certificate for registration of transfer, the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor,
the Asset Representations Reviewer, the Certificate Administrator, the Trustee, the Certificate Registrar, any Paying Agent and
any agent of any of them may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes,
and none of the Depositor, the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Certificate
Registrar, any Paying Agent or any agent of any of them shall be affected by notice or knowledge to the contrary.


 


No fee or service charge shall
be imposed by the Certificate Registrar for its services in respect of any registration of transfer or exchange referred to in
Section 5.02 of the Pooling and Servicing Agreement other than for transfers to Institutional Accredited Investors as provided
in Section 5.02(h) of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional Accredited Investor,
the transferor shall reimburse the Trust Fund for any costs (including the cost of the Certificate Registrar’s counsel’s
review of the documents and


 






    	A-2-5



    	 



    

 


any legal opinions, submitted by the transferor or transferee to the Certificate Registrar as provided
in the Pooling and Servicing Agreement) incurred by the Certificate Registrar in connection with such transfer. The Certificate
Registrar may require payment by each transferor of a sum sufficient to cover any tax, expense or other governmental charge payable
in connection with any such transfer.


 


The Pooling and Servicing Agreement
or any Custodial Agreement may be amended at any time by the Depositor, the Master Servicer, the Special Servicer, the Certificate
Administrator, the Operating Advisor, the Asset Representations Reviewer and the Trustee without the consent of any of the Certificateholders
or any Serviced Companion Loan Noteholders, (i) to cure any ambiguity or to correct any manifest error; (ii) to cause the provisions
of the Pooling and Servicing Agreement or any Custodial Agreement to conform or be consistent with or in furtherance of the statements
made in the Prospectus or Private Placement Memorandum with respect to the Certificates, the Trust or the Pooling and Servicing
Agreement or to correct or supplement any provisions of the Pooling and Servicing Agreement or any Custodial Agreement which may
be defective or inconsistent with any other provisions of the Pooling and Servicing Agreement or any Custodial Agreement; (iii)
to change the timing and/or nature of deposits in the Collection Account, the Distribution Accounts or any REO Account; provided
that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment; (iv) to modify, eliminate or add to any of its provisions to such extent
as shall be necessary to maintain the qualification of any Trust REMIC as a REMIC under the relevant provisions of the Code at
all times that any Certificate is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust Fund or any
Trust REMIC that would be a claim against the Trust Fund or any Trust REMIC; provided that the Trustee and the Certificate
Administrator have received an Opinion of Counsel (at the expense of the party requesting such amendment) to the effect that (a)
such action is necessary or desirable to maintain such qualification or to avoid or minimize the risk of the imposition of any
such tax and (b) such action will not adversely affect in any material respect the interests of any Certificateholder or Companion
Loan Noteholder; (v) to modify, eliminate or add to the provisions any provision hereof restricting transfer of the Class R Certificates;
provided the Depositor has determined that such change shall not, as evidenced by an Opinion of Counsel, cause the Trust
Fund, any Trust REMIC or any of the Certificateholders (other than the Transferor) to be subject to a federal tax caused by a Transfer
to a Person that is a Disqualified Organization or a Non-U.S. Tax Person; (vi) to revise or add any other provisions with respect
to matters or questions arising under this Agreement or any other change; provided that the required action shall not adversely
affect in any material respect the interests of any Certificateholder or any holder of a Serviced Pari Passu Companion Loan not
consenting thereto as evidenced in writing by an Opinion of Counsel, at the expense of the party requesting such amendment or as
evidenced by a Rating Agency Confirmation from each of the Rating Agencies with respect to such amendment or supplement and confirmation
of the applicable rating agencies that such action will not result in the downgrade, withdrawal or qualification of its then-current
ratings of any securities related to a Companion Loan, if any (provided that such rating agency confirmation may be considered
satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates); (vii)
to amend or


 






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supplement any provision hereof to the extent necessary to maintain the then-current ratings assigned to each Class
of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of the Rating Agencies and confirmation
of the applicable rating agencies that such action will not result in the downgrade, withdrawal or qualification of its then-current
ratings of any securities related to a Companion Loan, if any (provided that such rating agency confirmation may be considered
satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates); provided
that such amendment or supplement shall not adversely affect in any material respect the interests of any Certificateholder not
consenting thereto as evidenced by an Opinion of Counsel; (viii) to modify the provisions of Section 3.06 and Section
3.17 of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable Advances and Workout-Delayed Reimbursement
Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as a Control Termination Event has not occurred
and is not continuing, the Directing Certificateholder, determine that the commercial mortgage backed securities industry standard
for such provisions has changed, in order to conform to such industry standard, (b) such modification does not adversely affect
the status of any Trust REMIC as a REMIC under the relevant provisions of the Code, as evidenced by an Opinion of Counsel and (c)
each Rating Agency has delivered a Rating Agency Confirmation and, with regard to any class of Serviced Companion Loan Securities,
the applicable rating agencies have delivered a confirmation that such action will not result in the downgrade, withdrawal or qualification
of its then-current ratings (provided that such rating agency confirmation may be considered satisfied in the same manner
as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates); (ix) to modify the procedures
of this Agreement relating to compliance with Rule 17g-5 of the Exchange Act; provided that such amendment shall not adversely
affect in any material respects the interests of any Certificateholders, as evidenced by (x) an Opinion of Counsel or (y) if any
Certificate is then rated, receipt of Rating Agency Confirmation from each Rating Agency rating such Certificates; and provided,
further, that the Certificate Administrator shall give notice of any such amendment to the 17g-5 Information Provider for
posting to the 17g-5 Information Provider’s Website and the Certificate Administrator shall post such notice to the Certificate
Administrator’s Website; and (x) to modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to
such extent as would be necessary to comply with the requirements for use of Form SF-3 in registered offerings to the extent provided
in CFR 239.45(b)(1)(ii), (iii) or (iv).


 


The Pooling and Servicing Agreement
or any Custodial Agreement may also be amended from time to time by the Depositor, the Master Servicer, the Special Servicer, the
Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer and the Trustee with the prior written consent
of the Holders of Certificates representing not less than a majority of the Percentage Interests of each Class of Certificates
affected thereby (without regard to Certificates held by the Depositor, any of the Depositor’s Affiliates and/or agents)
and each Serviced Companion Loan Noteholder affected thereby for the purpose of adding any provisions to or changing in any manner
or eliminating any of the provisions of the Pooling and Servicing Agreement or modifying in any manner the rights of the Certificateholders
or the Serviced Companion Loan Noteholders; provided, that no such amendment may:


 


		(i)	reduce in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans
or Subordinate Companion Loan which are required to be distributed on any Certificate, without the consent of the 



 






    	A-2-7



    	 



    

 


			Holders of Certificates
representing all of the Percentage Interests of the Class or Classes affected thereby or which are required to be distributed to
any Companion Loan Noteholders without the consent of such Companion Loan Noteholders;



 


		(ii)	reduce the aforesaid percentage of Certificates of any Class the Holders of which are required
to consent to any such amendment or remove the requirement to obtain consent of any Companion Loan Noteholder, in any such case
without the consent of the Holders of all Certificates of such Class then-outstanding or such Companion Loan Noteholder, as applicable;



 


		(iii)	adversely affect the Voting Rights of any Class of Certificates without the consent of the Holders
of all Certificates of such Class then outstanding;



 


		(iv)	change in any manner any defined term used in any Mortgage Loan Purchase Agreement or the obligations
of any Mortgage Loan Seller under such Mortgage Loan Purchase Agreement or otherwise or change any rights of any Mortgage Loan
Seller as a third party beneficiary hereunder, without the consent of such Mortgage Loan Seller; or



 


		(v)	amend the Servicing Standard without the consent of 100% of the Certificateholders or receipt of
Rating Agency Confirmation from each Rating Agency and confirmation of the applicable rating agencies that such action will not
result in the downgrade, withdrawal or qualification of its then-current ratings of any securities related to a Companion Loan,
if any (provided that such rating agency confirmation may be considered satisfied in the same manner as any Rating Agency
Confirmation may be considered satisfied with respect to the Certificates).



 


Further, the Depositor, the Master
Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer and the
Trustee, at any time and from time to time, without the consent of the Certificateholders or, if applicable, the Serviced Companion
Loan Noteholders, may amend the Pooling and Servicing Agreement to modify, eliminate or add to any of its provisions (i) to such
extent as shall be necessary to maintain the qualification of the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC, or to prevent
the imposition of any additional material state or local taxes, at all times that any Certificates are outstanding; provided
that such action, as evidenced by an Opinion of Counsel (obtained at the expense of the Trust Fund), is necessary or helpful
to maintain such qualification or to prevent the imposition of any such taxes, and would not adversely affect in any material respect
the interest of any Certificateholder or if applicable, any Serviced Companion Loan Noteholder or (ii) to the extent necessary
to comply with the Investment Company Act of 1940, as amended, the Exchange Act, Regulation AB, and/or any related regulatory actions
and/or interpretations.


 


The Certificateholder owning
a majority of the Percentage Interest in the Controlling Class and, if no such Certificateholder exercises such option, the Special
Servicer,


 






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and if the Special Servicer does not exercise such option, the Master Servicer may effect an early termination of the
Trust Fund, upon not less than 30 days’ prior Notice of Termination given to the Trustee, the Special Servicer and the Master
Servicer any time specifying the Anticipated Termination Date, which shall be on or after the Early Termination Notice Date (defined
as any date as of which the aggregate Stated Principal Balance of the Mortgage Loans remaining in the Trust is less than 1.0% of
the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date) by purchasing on such date all, but not less
than all, of the Mortgage Loans then included in the Trust Fund, and the Trust’s interest in all property acquired in respect
of any Mortgage Loan, at a purchase price, payable in cash, equal to the sum of, without duplication:


 


		(A)	100% of the Stated Principal Balance of each Mortgage Loan included in the Trust as of the last
day of the month preceding such Anticipated Termination Date (less any P&I Advances previously made on account of principal);



 


		(B)	the fair market value of all other property included in the Trust Fund as of the last day of the
month preceding such Anticipated Termination Date, as determined by an Independent appraiser acceptable to the Master Servicer
as of a date not more than 30 days prior to the last day of the month preceding such Distribution Date;



 


		(C)	all unpaid interest accrued on the unpaid balance of each Mortgage Loan (including any Mortgage
Loan as to which title to the related Mortgaged Property has been acquired) at the Mortgage Rate to the last day of the month preceding
such Anticipated Termination Date (less any P&I Advances previously made on account of interest); and



 


		(D)	the aggregate amount of unreimbursed
                                         Advances, with interest thereon at the Reimbursement Rate, and unpaid Servicing Compensation,
                                         Special Servicing Compensation, Operating Advisor Fees, Certificate Administrator/Trustee
                                         Fees, the CREFC® Intellectual Property Royalty License Fees and Trust
                                         Fund expenses.



 


In addition, the Pooling and
Servicing Agreement provides that following the date on which the Class X-A Notional Amount, the Class X-B Notional Amount, the
Class X-C Notional Amount and the aggregate Certificate Balance of the Class A-1, Class A-2, Class A-SB, Class A-3A, Class A-3B,
Class A-4, Class A-M, Class B, Class C and Class D Certificates is reduced to zero, the Sole Certificateholder shall have the right
to exchange all of the then-outstanding Certificates (other than (i) the Class X-D, Class X-E Certificates and Class X-F Certificates
if the Sole Certificateholder has only taken an assignment of the Voting Rights of the Class X-D, Class X-E Certificates and Class
X-F Certificates pursuant to the definition of “Sole Certificateholder” and (ii) the Class R Certificates) for all
of the Mortgage Loans and each REO Property remaining in the Trust Fund as contemplated by clause (ii) of Section 9.01(a) of the


 






    	A-2-9



    	 



    

 


Pooling and Servicing Agreement by giving written notice to all the parties to the Pooling and Servicing Agreement no later than
60 days prior to the anticipated date of exchange.


 


All costs and expenses incurred
by any and all parties to the Pooling and Servicing Agreement or by the Trust Fund in connection with the purchase of the Mortgage
Loans and the other assets of the Trust Fund pursuant to Section 9.01(c) of the Pooling and Servicing Agreement shall be borne
by the party exercising its purchase rights thereunder. The Trustee and the Certificate Administrator shall be entitled to rely
conclusively on any determination made by an Independent appraiser pursuant to Section 9.01(c) of the Pooling and Servicing Agreement.


 


The respective obligations and
responsibilities of the Master Servicer, the Special Servicer, the Depositor, the Certificate Administrator, the Operating Advisor,
the Asset Representations Reviewer and the Trustee created by the Pooling and Servicing Agreement with respect to the Certificates
(other than the obligations of the Certificate Administrator to make certain payments and to send certain notices to Certificateholders
as set forth in the Pooling and Servicing Agreement) shall terminate upon payment (or provision for payment) to the Certificateholders
and the Serviced Companion Loan Noteholders of all amounts held by or on behalf of the Trustee, the Certificate Administrator
and the Master Servicer, as the case may be, required under the Pooling and Servicing Agreement to be so paid on the Distribution
Date following the earlier to occur of (i) the purchase of the Mortgage Loans and all other property held by the Trust Fund in
accordance with Section 9.01(c) of the Pooling and Servicing Agreement; (ii) the exchange by the Sole Certificateholder of its
Certificates for the Mortgage Loans in accordance with Section 9.01(g) of the Pooling and Servicing Agreement; and (iii) the later
of (a) the receipt or collection of the last payment due on any Mortgage Loan included in the Trust Fund, or (b) the liquidation
and disposition pursuant to the Pooling and Servicing Agreement of the last asset held by the Trust Fund; provided that
in no event shall the trust created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years from the
death of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the United Kingdom,
living on the date hereof.


 


Unless the Certificate of Authentication
on this Certificate has been executed by the Authenticating Agent, by manual signature, this Certificate shall not be entitled
to any benefit under the Pooling and Servicing Agreement or be valid for any purpose.


 






    	A-2-10



    	 



    

 


IN WITNESS WHEREOF, the Certificate
Administrator has caused this Class A-2 Certificate to be duly executed.


 


Dated: April __, 2016


	 	 	 
	 	WELLS FARGO BANK, NATIONAL
    ASSOCIATION, not in its individual capacity but solely as Certificate
    Administrator
	 	 	 
	 	By:	 
	 	 	Authorized Signatory






 


Certificate of Authentication


 


This is one of the Class A-2
Certificates referred to in the Pooling and Servicing Agreement.


 


Dated: April __, 2016


	 	 	 
	 	WELLS FARGO BANK,
NATIONAL ASSOCIATION, not in its individual capacity but solely as Authenticating Agent
	 	 	 
	 	By:	 
	 	 	Authorized Signatory



 






    	A-2-11



    	 



    

 




 


EXHIBIT A-3


 


FORM OF CLASS A-SB CERTIFICATE


 


[UNLESS THIS CERTIFICATE IS PRESENTED BY AN
AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE
REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &
CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]1


 


THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION
OF OR INTEREST IN THE DEPOSITOR, THE ORIGINATOR, THE MASTER SERVICER, THE SPECIAL SERVICER, THE CERTIFICATE ADMINISTRATOR, THE
CERTIFICATE REGISTRAR, THE OPERATING ADVISOR, THE ASSET REPRESENTATIONS REVIEWER, THE TRUSTEE OR ANY OF THEIR RESPECTIVE AFFILIATES.
NEITHER THE CERTIFICATES NOR THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY.


 


PRINCIPAL PAYMENTS ON THIS CERTIFICATE ARE PAYABLE
IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.


 


FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE
REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE TERMS ARE DEFINED,
RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED.


 





 



 


1
Legend required as long as DTC is the Depository under the Pooling and Servicing Agreement.


 









    	A-3-1



    	 



    

 


DBJPM 2016-C1 COMMERCIAL MORTGAGE

PASS-THROUGH CERTIFICATES, CLASS A-SB


 


	Class A-SB Pass-Through Rate: 3.038%	 	
        CUSIP:23312LAQ1

         

        ISIN:    US23312LAQ14

	 	 	 
	Original Aggregate Certificate Balance of the

Class A-SB Certificates: $46,052,000	 	Initial Certificate Balance of this Certificate: $46,052,000
	 	 	 
	First Distribution Date: May 12, 2016	 	Cut-off Date: The close of business on the later of the related due date for each Mortgage Loan in April 2016 and the date of origination of such Mortgage Loan
	 	 	 
	Assumed Final Distribution Date: December 2025	 	No.: A-SB-[_]


 


This certifies that [______] is the
registered owner of a beneficial ownership interest in a Trust Fund, including the distributions to be made with respect to the
Class A-SB Certificates. The Trust Fund, described more fully below, consists primarily of a pool of Mortgage Loans secured by
first liens on commercial, multifamily and manufactured housing community properties and held in trust by the Trustee and serviced
by the Master Servicer. The Trust Fund was created, and the Mortgage Loans are to be serviced, pursuant to the Pooling and Servicing
Agreement (as defined below). The Holder of this Certificate, by virtue of the acceptance hereof, assents to the terms, provisions
and conditions of the Pooling and Servicing Agreement and is bound thereby.


 


The Pooling and Servicing Agreement,
dated as of April 1, 2016 (the “Pooling and Servicing Agreement”), between the Depositor, Wells Fargo Bank,
National Association, as master servicer (in such capacity, the “Master Servicer”), Midland Loan Services, a
Division of PNC Bank, National Association, as special servicer (the “Special Servicer”), Wilmington Trust,
National Association, as trustee (the “Trustee”), Wells Fargo Bank, National Association, as certificate administrator
(in such capacity, the “Certificate Administrator”), paying agent and custodian, Park Bridge Lender Services
LLC, as operating advisor (in such capacity, the “Operating Advisor”), and Park Bridge Lender Services
LLC, as asset representations reviewer (in such capacity, the “Asset Representations Reviewer”) evidences
the issuance of the Class A-1, Class A-2, Class A-SB, Class A-3A, Class A-4, Class X-A, Class A-M, Class B, Class C, Class A-3B,
Class X-B, Class X-C, Class X-D, Class X-E, Class X-F, Class D, Class E, Class F, Class G, Class H and Class R Certificates (the
“Certificates”; the Holders of Certificates issued under the Pooling and Servicing Agreement are collectively
referred to herein as “Certificateholders”). This Certificate is issued pursuant to, and in accordance with,
the terms of the Pooling and Servicing Agreement. To the extent not defined herein, capitalized terms used herein shall have the
meanings assigned thereto in the Pooling and Servicing Agreement.


 






    	A-3-2



    	 



    

 


This Certificate represents a
“regular interest” in a “real estate mortgage investment conduit”, as those terms are defined, respectively,
in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this Certificate, by acceptance
hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in accordance with the preceding
sentence for purposes of federal income taxes, state and local income and franchise taxes and other taxes imposed on or measured
by income.


 


The Certificate Administrator
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Mortgage Loans and has executed this Certificate in its limited capacity as Certificate Administrator under the Pooling
and Servicing Agreement. In the event that there is any conflict between any provision of this Certificate and any provision of
the Pooling and Servicing Agreement, such provision of this Certificate shall be superseded to the extent of such inconsistency.


 


Pursuant to the terms of the
Pooling and Servicing Agreement, the Certificate Administrator, or the Paying Agent on behalf of the Certificate Administrator,
will distribute (other than the final distribution on any Certificate), on the fourth Business Day after each Determination Date
(each such date, a “Distribution Date”) an amount equal to such Person’s pro rata share (based on the
Percentage Interest represented by this Certificate) of that portion of the aggregate amount of principal and interest then distributable,
if any, allocable to the Class A-SB Certificates for such Distribution Date, all as more fully described in the Pooling and Servicing
Agreement. “Determination Date” is defined in the Pooling and Servicing Agreement as the sixth day of each month, or
if such sixth day is not a Business Day, then the next Business Day, commencing in May 2016. Holders of this Certificate may be
entitled to Prepayment Premiums and Yield Maintenance Charges as provided in the Pooling and Servicing Agreement.


 


During each Interest Accrual
Period (as defined below), interest on the Class A-SB Certificates will be calculated based on a 360-day year consisting of twelve
30-day months on the outstanding Certificate Balance hereof.


 


Interest accrued on this Certificate
during an Interest Accrual Period, plus the aggregate unpaid Interest Shortfall with respect to this Certificate, if any, will
be payable on the related Distribution Date to the extent provided in the Pooling and Servicing Agreement. The “Interest
Accrual Period” means, with respect to any Distribution Date, the calendar month immediately preceding the month in which
such Distribution Date occurs. Each Interest Accrual Period is assumed to consist of 30 days.


 


All distributions (other than
the final distribution on any Certificate) will be made by the Paying Agent to the Persons in whose names the Certificates are
registered at the close of business on each Record Date, which will be the close of business on the last Business Day of the calendar
month preceding the month in which such Distribution Date occurs. Such distributions shall be made on each Distribution Date other
than the Termination Date to each Certificateholder of record on the related Record Date, (i) by wire transfer of immediately available
funds to the account of such Holder at a bank or other entity located in the United States and having appropriate facilities therefor
if such Holder shall have provided the Paying Agent with wire instructions in writing at least five Business Days prior to the
related Record Date (which wiring instructions may be in the form of a standing order applicable to all


 



    	A-3-3



    	 



    

 


subsequent distributions),
or (ii) otherwise, by check mailed by first-class mail to the address set forth therefor in the Certificate Register. The final
distribution on each Certificate shall be made in like manner, but only upon presentment and surrender of such Certificate at the
office of the Certificate Administrator or its agent (which may be the Paying Agent or the Certificate Registrar acting as such
agent) that is specified in the notice to Holders of such final distribution.


 


Any funds not distributed on
the Termination Date because of the failure of any Certificateholders to tender their Certificates shall, on such date, be set
aside and held for the benefit of the appropriate non-tendering Certificateholders. If any Certificates as to which notice of the
Termination Date has been given pursuant to the Pooling and Servicing Agreement shall not have been surrendered for cancellation
within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders to surrender their Certificates for cancellation to receive the final distribution with respect
thereto. If within one year after the second notice not all of such Certificates shall have been surrendered for cancellation,
the Certificate Administrator may, directly or through an agent, take appropriate steps to contact the remaining non-tendering
Certificateholders concerning surrender of their Certificates. The costs and expenses of holding such funds in trust and of contacting
such Certificateholders shall be paid out of such funds. Subject to applicable state escheatment laws, if within two years after
the second notice any such Certificates shall not have been surrendered for cancellation, the Paying Agent shall distribute to
the Certificate Administrator all amounts distributable to the Holders thereof, and the Certificate Administrator shall thereafter
hold such amounts for the benefit of such Holders until the earlier of (i) its termination as Certificate Administrator under the
Pooling and Servicing Agreement and the transfer of such amounts to a successor Certificate Administrator and (ii) the termination
of the Trust Fund and distribution of such amounts to the Class R Certificateholders. No interest shall accrue or be payable to
any Certificateholder on any amount held under the Pooling and Servicing Agreement or by the Certificate Administrator as a result
of such Certificateholder’s failure to surrender its Certificate(s) for final payment thereof in accordance with the Pooling
and Servicing Agreement. Any such amounts transferred to the Certificate Administrator may be invested in Permitted Investments
and all income and gain realized from investment of such funds shall accrue for its benefit.


 


This Certificate is limited in
right of payment to, among other things, certain collections and recoveries in respect of the Mortgage Loans, as more specifically
set forth herein and in the Pooling and Servicing Agreement.


 


As provided in the Pooling and
Servicing Agreement, the Trust Fund includes (in each case, to the extent of the Trust Fund’s interest therein and specifically
excluding any interest of any Serviced Companion Loan Noteholder therein): (i) such Mortgage Loans as from time to time are subject
to the Pooling and Servicing Agreement, together with the Mortgage Files relating thereto; (ii) all scheduled or unscheduled payments
on or collections in respect of the Mortgage Loans due after the Cut-off Date; (iii) the Trust Fund’s interest in any REO
Property; (iv) all revenues received in respect of any REO Property; (v) any Assignments of Leases, Rents and Profits and any security
agreements related to the Mortgage Loans; (vi) any indemnities or guaranties given as additional security for any Mortgage Loans;
(vii) a security interest in all assets deposited in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts, and Reserve
Accounts; (viii) the Loss of Value Reserve Fund; (ix) the Collection


 



    	A-3-4



    	 



    

 


Account, the Serviced Whole Loan Collection Accounts, the
Distribution Accounts, any Gain-on-Sale Reserve Account, the Interest Reserve Account, and the Trust’s interest in any REO
Account, including any amounts on deposit therein, assets credited thereto and any reinvestment income, as applicable; (x) a security
interest in any environmental indemnity agreements relating to the Mortgaged Properties; (xi) a security interest in all insurance
policies with respect to the Mortgage Loans and the Mortgaged Properties; (xii) the rights and remedies under the Mortgage Loan
Purchase Agreements relating to document delivery requirements with respect to the Mortgage Loans and the representations and warranties
of the related Mortgage Loan Seller regarding its Mortgage Loans; (xiii) the Lower-Tier Regular Interests and (xiv) the proceeds
of the foregoing (other than any interest earned on deposits in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts
and any Reserve Accounts, to the extent such interest belongs to the related Borrower). As provided in the Pooling and Servicing
Agreement, withdrawals may be made from certain of the above accounts for purposes other than distributions to Certificateholders.


 


This Certificate does not purport
to summarize the Pooling and Servicing Agreement, and reference is made to the Pooling and Servicing Agreement for the interests,
rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and immunities of
the Certificate Administrator.


 


As provided in the Pooling and
Servicing Agreement and subject to certain limitations set forth therein, this Certificate is transferable or exchangeable only
upon surrender of this Certificate to the Certificate Registrar at its offices together with an assignment and transfer (executed
by the Holder or his duly authorized attorney), subject to the requirements in Article V of the Pooling and Servicing Agreement.
Upon surrender for registration of transfer of this Certificate, subject to the requirements Article V of the Pooling and Servicing
Agreement, the Certificate Administrator shall execute and the Authenticating Agent shall duly authenticate in the name of the
designated transferee or transferees, one or more new Certificates in authorized denominations of a like aggregate denomination
as the Certificate being surrendered. Such Certificates shall be delivered by the Certificate Registrar in accordance with Article
V of the Pooling and Servicing Agreement.


 


Prior to due presentation of
this Certificate for registration of transfer, the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor,
the Asset Representations Reviewer, the Certificate Administrator, the Trustee, the Certificate Registrar, any Paying Agent and
any agent of any of them may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes,
and none of the Depositor, the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Certificate
Registrar, any Paying Agent or any agent of any of them shall be affected by notice or knowledge to the contrary.


 


No fee or service charge shall
be imposed by the Certificate Registrar for its services in respect of any registration of transfer or exchange referred to in
Section 5.02 of the Pooling and Servicing Agreement other than for transfers to Institutional Accredited Investors as provided
in Section 5.02(h) of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional Accredited Investor,
the transferor shall reimburse the Trust Fund for any costs (including the cost of the Certificate Registrar’s counsel’s
review of the documents and


 



    	A-3-5



    	 



    

 


any legal opinions, submitted by the transferor or transferee to the Certificate Registrar as provided
in the Pooling and Servicing Agreement) incurred by the Certificate Registrar in connection with such transfer. The Certificate
Registrar may require payment by each transferor of a sum sufficient to cover any tax, expense or other governmental charge payable
in connection with any such transfer.


 


The Pooling and Servicing Agreement
or any Custodial Agreement may be amended at any time by the Depositor, the Master Servicer, the Special Servicer, the Certificate
Administrator, the Operating Advisor, the Asset Representations Reviewer and the Trustee without the consent of any of the Certificateholders
or any Serviced Companion Loan Noteholders, (i) to cure any ambiguity or to correct any manifest error; (ii) to cause the provisions
of the Pooling and Servicing Agreement or any Custodial Agreement to conform or be consistent with or in furtherance of the statements
made in the Prospectus or Private Placement Memorandum with respect to the Certificates, the Trust or the Pooling and Servicing
Agreement or to correct or supplement any provisions of the Pooling and Servicing Agreement or any Custodial Agreement which may
be defective or inconsistent with any other provisions of the Pooling and Servicing Agreement or any Custodial Agreement; (iii)
to change the timing and/or nature of deposits in the Collection Account, the Distribution Accounts or any REO Account; provided
that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment; (iv) to modify, eliminate or add to any of its provisions to such extent
as shall be necessary to maintain the qualification of any Trust REMIC as a REMIC under the relevant provisions of the Code at
all times that any Certificate is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust Fund or any
Trust REMIC that would be a claim against the Trust Fund or any Trust REMIC; provided that the Trustee and the Certificate
Administrator have received an Opinion of Counsel (at the expense of the party requesting such amendment) to the effect that (a)
such action is necessary or desirable to maintain such qualification or to avoid or minimize the risk of the imposition of any
such tax and (b) such action will not adversely affect in any material respect the interests of any Certificateholder or Companion
Loan Noteholder; (v) to modify, eliminate or add to the provisions any provision hereof restricting transfer of the Class R Certificates;
provided the Depositor has determined that such change shall not, as evidenced by an Opinion of Counsel, cause the Trust
Fund, any Trust REMIC or any of the Certificateholders (other than the Transferor) to be subject to a federal tax caused by a Transfer
to a Person that is a Disqualified Organization or a Non-U.S. Tax Person; (vi) to revise or add any other provisions with respect
to matters or questions arising under this Agreement or any other change; provided that the required action shall not adversely
affect in any material respect the interests of any Certificateholder or any holder of a Serviced Pari Passu Companion Loan not
consenting thereto as evidenced in writing by an Opinion of Counsel, at the expense of the party requesting such amendment or as
evidenced by a Rating Agency Confirmation from each of the Rating Agencies with respect to such amendment or supplement and confirmation
of the applicable rating agencies that such action will not result in the downgrade, withdrawal or qualification of its then-current
ratings of any securities related to a Companion Loan, if any (provided that such rating agency confirmation may be considered
satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates); (vii)
to amend or


 



    	A-3-6



    	 



    

 


supplement any provision hereof to the extent necessary to maintain the then-current ratings assigned to each Class
of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of the Rating Agencies and confirmation
of the applicable rating agencies that such action will not result in the downgrade, withdrawal or qualification of its then-current
ratings of any securities related to a Companion Loan, if any (provided that such rating agency confirmation may be considered
satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates); provided
that such amendment or supplement shall not adversely affect in any material respect the interests of any Certificateholder not
consenting thereto as evidenced by an Opinion of Counsel; (viii) to modify the provisions of Section 3.06 and Section
3.17 of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable Advances and Workout-Delayed Reimbursement
Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as a Control Termination Event has not occurred
and is not continuing, the Directing Certificateholder, determine that the commercial mortgage backed securities industry standard
for such provisions has changed, in order to conform to such industry standard, (b) such modification does not adversely affect
the status of any Trust REMIC as a REMIC under the relevant provisions of the Code, as evidenced by an Opinion of Counsel and (c)
each Rating Agency has delivered a Rating Agency Confirmation and, with regard to any class of Serviced Companion Loan Securities,
the applicable rating agencies have delivered a confirmation that such action will not result in the downgrade, withdrawal or qualification
of its then-current ratings (provided that such rating agency confirmation may be considered satisfied in the same manner
as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates); (ix) to modify the procedures
of this Agreement relating to compliance with Rule 17g-5 of the Exchange Act; provided that such amendment shall not adversely
affect in any material respects the interests of any Certificateholders, as evidenced by (x) an Opinion of Counsel or (y) if any
Certificate is then rated, receipt of Rating Agency Confirmation from each Rating Agency rating such Certificates; and provided,
further, that the Certificate Administrator shall give notice of any such amendment to the 17g-5 Information Provider for
posting to the 17g-5 Information Provider’s Website and the Certificate Administrator shall post such notice to the Certificate
Administrator’s Website; and (x) to modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to
such extent as would be necessary to comply with the requirements for use of Form SF-3 in registered offerings to the extent provided
in CFR 239.45(b)(1)(ii), (iii) or (iv).


 


The Pooling and Servicing Agreement
or any Custodial Agreement may also be amended from time to time by the Depositor, the Master Servicer, the Special Servicer, the
Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer and the Trustee with the prior written consent
of the Holders of Certificates representing not less than a majority of the Percentage Interests of each Class of Certificates
affected thereby (without regard to Certificates held by the Depositor, any of the Depositor’s Affiliates and/or agents)
and each Serviced Companion Loan Noteholder affected thereby for the purpose of adding any provisions to or changing in any manner
or eliminating any of the provisions of the Pooling and Servicing Agreement or modifying in any manner the rights of the Certificateholders
or the Serviced Companion Loan Noteholders; provided, that no such amendment may:


 


		(i)	reduce in any manner the amount of, or delay the timing
of, payments received on the Mortgage Loans or Subordinate Companion Loan which are required to be distributed on any Certificate,
without the consent of the



 






    	A-3-7



    	 



    

 


			Holders of Certificates representing all of the Percentage Interests
of the Class or Classes affected thereby or which are required to be distributed to any Companion Loan Noteholders without the
consent of such Companion Loan Noteholders;



 


		(ii)	reduce the aforesaid percentage of Certificates of any
Class the Holders of which are required to consent to any such amendment or remove the requirement to obtain consent of any Companion
Loan Noteholder, in any such case without the consent of the Holders of all Certificates of such Class then-outstanding or such
Companion Loan Noteholder, as applicable;



 


		(iii)	adversely affect the Voting Rights of any Class of Certificates
without the consent of the Holders of all Certificates of such Class then outstanding;



 


		(iv)	change in any manner any defined term used in any Mortgage
Loan Purchase Agreement or the obligations of any Mortgage Loan Seller under such Mortgage Loan Purchase Agreement or otherwise
or change any rights of any Mortgage Loan Seller as a third party beneficiary hereunder, without the consent of such Mortgage
Loan Seller; or



 


		(v)	amend the Servicing Standard without the consent of 100%
of the Certificateholders or receipt of Rating Agency Confirmation from each Rating Agency and confirmation of the applicable
rating agencies that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of
any securities related to a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied
in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates).



 


Further, the Depositor, the Master
Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer and the
Trustee, at any time and from time to time, without the consent of the Certificateholders or, if applicable, the Serviced Companion
Loan Noteholders, may amend the Pooling and Servicing Agreement to modify, eliminate or add to any of its provisions (i) to such
extent as shall be necessary to maintain the qualification of the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC, or to prevent
the imposition of any additional material state or local taxes, at all times that any Certificates are outstanding; provided
that such action, as evidenced by an Opinion of Counsel (obtained at the expense of the Trust Fund), is necessary or helpful
to maintain such qualification or to prevent the imposition of any such taxes, and would not adversely affect in any material respect
the interest of any Certificateholder or if applicable, any Serviced Companion Loan Noteholder or (ii) to the extent necessary
to comply with the Investment Company Act of 1940, as amended, the Exchange Act, Regulation AB, and/or any related regulatory actions
and/or interpretations.


 


The Certificateholder owning
a majority of the Percentage Interest in the Controlling Class and, if no such Certificateholder exercises such option, the Special
Servicer,


 



    	A-3-8



    	 



    

 


and if the Special Servicer does not exercise such option, the Master Servicer may effect an early termination of the
Trust Fund, upon not less than 30 days’ prior Notice of Termination given to the Trustee, the Special Servicer and the Master
Servicer any time specifying the Anticipated Termination Date, which shall be on or after the Early Termination Notice Date (defined
as any date as of which the aggregate Stated Principal Balance of the Mortgage Loans remaining in the Trust is less than 1.0% of
the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date) by purchasing on such date all, but not less
than all, of the Mortgage Loans then included in the Trust Fund, and the Trust’s interest in all property acquired in respect
of any Mortgage Loan, at a purchase price, payable in cash, equal to the sum of, without duplication:


 


		(A)	100% of the Stated Principal Balance of each Mortgage Loan included in the Trust as of the last
day of the month preceding such Anticipated Termination Date (less any P&I Advances previously made on account of principal);



 


		(B)	the fair market value of all other property included in the Trust Fund as of the last day of the
month preceding such Anticipated Termination Date, as determined by an Independent appraiser acceptable to the Master Servicer
as of a date not more than 30 days prior to the last day of the month preceding such Distribution Date;



 


		(C)	all unpaid interest accrued on the unpaid balance of each Mortgage Loan (including any Mortgage
Loan as to which title to the related Mortgaged Property has been acquired) at the Mortgage Rate to the last day of the month preceding
such Anticipated Termination Date (less any P&I Advances previously made on account of interest); and



 


		(D)	the aggregate amount of unreimbursed
                                         Advances, with interest thereon at the Reimbursement Rate, and unpaid Servicing Compensation,
                                         Special Servicing Compensation, Operating Advisor Fees, Certificate Administrator/Trustee
                                         Fees, the CREFC® Intellectual Property Royalty License Fees and Trust
                                         Fund expenses.



 


In addition, the Pooling and
Servicing Agreement provides that following the date on which the Class X-A Notional Amount, the Class X-B Notional Amount, the
Class X-C Notional Amount and the aggregate Certificate Balance of the Class A-1, Class A-2, Class A-SB, Class A-3A, Class A-3B,
Class A-4, Class A-M, Class B, Class C and Class D Certificates is reduced to zero, the Sole Certificateholder shall have the right
to exchange all of the then-outstanding Certificates (other than (i) the Class X-D, Class X-E Certificates and Class X-F Certificates
if the Sole Certificateholder has only taken an assignment of the Voting Rights of the Class X-D, Class X-E Certificates and Class
X-F Certificates pursuant to the definition of “Sole Certificateholder” and (ii) the Class R Certificates) for all
of the Mortgage Loans and each REO Property remaining in the Trust Fund as contemplated by clause (ii) of Section 9.01(a) of the


 



    	A-3-9



    	 



    

 


Pooling and Servicing Agreement by giving written notice to all the parties to the Pooling and Servicing Agreement no later than
60 days prior to the anticipated date of exchange.


 


All costs and expenses incurred
by any and all parties to the Pooling and Servicing Agreement or by the Trust Fund in connection with the purchase of the Mortgage
Loans and the other assets of the Trust Fund pursuant to Section 9.01(c) of the Pooling and Servicing Agreement shall be borne
by the party exercising its purchase rights thereunder. The Trustee and the Certificate Administrator shall be entitled to rely
conclusively on any determination made by an Independent appraiser pursuant to Section 9.01(c) of the Pooling and Servicing Agreement.


 


The respective obligations and
responsibilities of the Master Servicer, the Special Servicer, the Depositor, the Certificate Administrator, the Operating Advisor,
the Asset Representations Reviewer and the Trustee created by the Pooling and Servicing Agreement with respect to the Certificates
(other than the obligations of the Certificate Administrator to make certain payments and to send certain notices to Certificateholders
as set forth in the Pooling and Servicing Agreement) shall terminate upon payment (or provision for payment) to the Certificateholders
and the Serviced Companion Loan Noteholders of all amounts held by or on behalf of the Trustee, the Certificate Administrator
and the Master Servicer, as the case may be, required under the Pooling and Servicing Agreement to be so paid on the Distribution
Date following the earlier to occur of (i) the purchase of the Mortgage Loans and all other property held by the Trust Fund in
accordance with Section 9.01(c) of the Pooling and Servicing Agreement; (ii) the exchange by the Sole Certificateholder of its
Certificates for the Mortgage Loans in accordance with Section 9.01(g) of the Pooling and Servicing Agreement; and (iii) the later
of (a) the receipt or collection of the last payment due on any Mortgage Loan included in the Trust Fund, or (b) the liquidation
and disposition pursuant to the Pooling and Servicing Agreement of the last asset held by the Trust Fund; provided that
in no event shall the trust created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years from the
death of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the United Kingdom,
living on the date hereof.


 


Unless the Certificate of Authentication
on this Certificate has been executed by the Authenticating Agent, by manual signature, this Certificate shall not be entitled
to any benefit under the Pooling and Servicing Agreement or be valid for any purpose.


 









    	A-3-10



    	 



    

 


IN WITNESS WHEREOF, the Certificate
Administrator has caused this Class A-SB Certificate to be duly executed.


 


Dated: April __, 2016


 





	 	WELLS FARGO BANK,
NATIONAL ASSOCIATION, not in its individual capacity but solely as Certificate Administrator

	 	 	 
	 	By: 	 
	 	 	Authorized Signatory



  


Certificate of Authentication


 


This is one of the Class A-SB
Certificates referred to in the Pooling and Servicing Agreement.


 


Dated: April __, 2016


 


	 	WELLS
FARGO BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Authenticating Agent 

	 	 	 
	 	By: 	 
	 	 	Authorized Signatory





 






    	A-3-11



    	 



    

 









 


EXHIBIT
A-4


 


FORM
OF CLASS A-3A CERTIFICATE


 


[UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”),
TO THE CERTIFICATE REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.]1


 


THIS
CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN THE DEPOSITOR, THE ORIGINATOR, THE MASTER SERVICER, THE SPECIAL
SERVICER, THE CERTIFICATE ADMINISTRATOR, THE CERTIFICATE REGISTRAR, THE OPERATING ADVISOR, THE ASSET REPRESENTATIONS REVIEWER,
THE TRUSTEE OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THE CERTIFICATES NOR THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED
BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY.


 


PRINCIPAL
PAYMENTS ON THIS CERTIFICATE ARE PAYABLE IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE BALANCE
OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.


 


FOR
U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE
INVESTMENT CONDUIT,” AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE INTERNAL REVENUE CODE
OF 1986, AS AMENDED.


 





 



 




1
Legend required as long as DTC is the Depository under the Pooling and Servicing Agreement.





 




    	A-4-1



    	 



    

 


DBJPM
2016-C1 MORTGAGE TRUST COMMERCIAL MORTGAGE

PASS-THROUGH CERTIFICATES, CLASS A-3A


 


	Class
    A-3A Pass-Through Rate: 3.015%	 	CUSIP:23312LAR9

         

        ISIN:    US23312LAR96 

	 	 	 
	Original
    Aggregate Certificate Balance of the

    Class A-3A Certificates: $140,000,000	 	Initial
    Certificate Balance of this Certificate: $140,000,000
	 	 	 
	First
    Distribution Date: May 12, 2016	 	Cut-off
    Date: The close of business on the later of the related due date for each Mortgage Loan in April 2016 and the date of origination
    of such Mortgage Loan
	 	 	 
	Assumed
    Final Distribution Date: January 2026	 	No.:
    A-3A-[_]


 


This
certifies that [_____] is the registered owner of a beneficial ownership interest in a Trust Fund, including the distributions
to be made with respect to the Class A-3A Certificates. The Trust Fund, described more fully below, consists primarily of a pool
of Mortgage Loans secured by first liens on commercial, multifamily and manufactured housing community properties and held in
trust by the Trustee and serviced by the Master Servicer. The Trust Fund was created, and the Mortgage Loans are to be serviced,
pursuant to the Pooling and Servicing Agreement (as defined below). The Holder of this Certificate, by virtue of the acceptance
hereof, assents to the terms, provisions and conditions of the Pooling and Servicing Agreement and is bound thereby.


 


The
Pooling and Servicing Agreement, dated as of April 1, 2016 (the “Pooling and Servicing Agreement”), between
the Depositor, Wells Fargo Bank, National Association, as master servicer (in such capacity, the “Master Servicer”),
Midland Loan Services, a Division of PNC Bank, National Association, as special servicer (the “Special Servicer”),
Wilmington Trust, National Association, as trustee (the “Trustee”), Wells Fargo Bank, National Association,
as certificate administrator (in such capacity, the “Certificate Administrator”), paying agent and custodian,
Park Bridge Lender Services LLC, as operating advisor (in such capacity, the “Operating
Advisor”), and Park Bridge Lender Services LLC, as asset representations
reviewer (in such capacity, the “Asset Representations Reviewer”) evidences the issuance of the Class A-1,
Class A-2, Class A-SB, Class A-3A, Class A-4, Class X-A, Class A-M, Class B, Class C, Class A-3B, Class X-B, Class X-C, Class
X-D, Class X-E, Class X-F, Class D, Class E, Class F, Class G, Class H and Class R Certificates (the “Certificates”;
the Holders of Certificates issued under the Pooling and Servicing Agreement are collectively referred to herein as “Certificateholders”).
This Certificate is issued pursuant to, and in accordance with, the terms of the Pooling and Servicing Agreement. To the extent
not defined herein, capitalized terms used herein shall have the meanings assigned thereto in the Pooling and Servicing Agreement.


 






    	A-4-2



    	 



    

 


This
Certificate represents a “regular interest” in a “real estate mortgage investment conduit”, as those terms
are defined, respectively, in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this
Certificate, by acceptance hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in
accordance with the preceding sentence for purposes of federal income taxes, state and local income and franchise taxes and other
taxes imposed on or measured by income.


 


The
Certificate Administrator makes no representation or warranty as to any of the statements contained herein or the validity or
sufficiency of the Certificates or the Mortgage Loans and has executed this Certificate in its limited capacity as Certificate
Administrator under the Pooling and Servicing Agreement. In the event that there is any conflict between any provision of this
Certificate and any provision of the Pooling and Servicing Agreement, such provision of this Certificate shall be superseded to
the extent of such inconsistency.


 


Pursuant
to the terms of the Pooling and Servicing Agreement, the Certificate Administrator, or the Paying Agent on behalf of the Certificate
Administrator, will distribute (other than the final distribution on any Certificate), on the fourth Business Day after each Determination
Date (each such date, a “Distribution Date”) an amount equal to such Person’s pro rata share (based on
the Percentage Interest represented by this Certificate) of that portion of the aggregate amount of principal and interest then
distributable, if any, allocable to the Class A-3A Certificates for such Distribution Date, all as more fully described in the
Pooling and Servicing Agreement. “Determination Date” is defined in the Pooling and Servicing Agreement as the sixth
day of each month, or if such sixth day is not a Business Day, then the next Business Day, commencing in May 2016. Holders of
this Certificate may be entitled to Prepayment Premiums and Yield Maintenance Charges as provided in the Pooling and Servicing
Agreement.


 


During
each Interest Accrual Period (as defined below), interest on the Class A-3A Certificates will be calculated based on a 360-day
year consisting of twelve 30-day months on the outstanding Certificate Balance hereof.


 


Interest
accrued on this Certificate during an Interest Accrual Period, plus the aggregate unpaid Interest Shortfall with respect to this
Certificate, if any, will be payable on the related Distribution Date to the extent provided in the Pooling and Servicing Agreement.
The “Interest Accrual Period” means, with respect to any Distribution Date, the calendar month immediately preceding
the month in which such Distribution Date occurs. Each Interest Accrual Period is assumed to consist of 30 days.


 


All
distributions (other than the final distribution on any Certificate) will be made by the Paying Agent to the Persons in whose
names the Certificates are registered at the close of business on each Record Date, which will be the close of business on the
last Business Day of the calendar month preceding the month in which such Distribution Date occurs. Such distributions shall be
made on each Distribution Date other than the Termination Date to each Certificateholder of record on the related Record Date,
(i) by wire transfer of immediately available funds to the account of such Holder at a bank or other entity located in the United
States and having appropriate facilities therefor if such Holder shall have provided the Paying Agent with wire instructions in
writing at least five Business Days prior to the related Record Date (which wiring instructions may be in the form of a standing
order applicable to all


 






    	A-4-3



    	 



    

 


subsequent
distributions), or (ii) otherwise, by check mailed by first-class mail to the address set forth therefor in the Certificate Register.
The final distribution on each Certificate shall be made in like manner, but only upon presentment and surrender of such Certificate
at the office of the Certificate Administrator or its agent (which may be the Paying Agent or the Certificate Registrar acting
as such agent) that is specified in the notice to Holders of such final distribution.


 


Any
funds not distributed on the Termination Date because of the failure of any Certificateholders to tender their Certificates shall,
on such date, be set aside and held for the benefit of the appropriate non-tendering Certificateholders. If any Certificates as
to which notice of the Termination Date has been given pursuant to the Pooling and Servicing Agreement shall not have been surrendered
for cancellation within six months after the time specified in such notice, the Certificate Administrator shall mail a second
notice to the remaining non-tendering Certificateholders to surrender their Certificates for cancellation to receive the final
distribution with respect thereto. If within one year after the second notice not all of such Certificates shall have been surrendered
for cancellation, the Certificate Administrator may, directly or through an agent, take appropriate steps to contact the remaining
non-tendering Certificateholders concerning surrender of their Certificates. The costs and expenses of holding such funds in trust
and of contacting such Certificateholders shall be paid out of such funds. Subject to applicable state escheatment laws, if within
two years after the second notice any such Certificates shall not have been surrendered for cancellation, the Paying Agent shall
distribute to the Certificate Administrator all amounts distributable to the Holders thereof, and the Certificate Administrator
shall thereafter hold such amounts for the benefit of such Holders until the earlier of (i) its termination as Certificate Administrator
under the Pooling and Servicing Agreement and the transfer of such amounts to a successor Certificate Administrator and (ii) the
termination of the Trust Fund and distribution of such amounts to the Class R Certificateholders. No interest shall accrue or
be payable to any Certificateholder on any amount held under the Pooling and Servicing Agreement or by the Certificate Administrator
as a result of such Certificateholder’s failure to surrender its Certificate(s) for final payment thereof in accordance
with the Pooling and Servicing Agreement. Any such amounts transferred to the Certificate Administrator may be invested in Permitted
Investments and all income and gain realized from investment of such funds shall accrue for its benefit.


 


This
Certificate is limited in right of payment to, among other things, certain collections and recoveries in respect of the Mortgage
Loans, as more specifically set forth herein and in the Pooling and Servicing Agreement.


 


As
provided in the Pooling and Servicing Agreement, the Trust Fund includes (in each case, to the extent of the Trust Fund’s
interest therein and specifically excluding any interest of any Serviced Companion Loan Noteholder therein): (i) such Mortgage
Loans as from time to time are subject to the Pooling and Servicing Agreement, together with the Mortgage Files relating thereto;
(ii) all scheduled or unscheduled payments on or collections in respect of the Mortgage Loans due after the Cut-off Date; (iii)
the Trust Fund’s interest in any REO Property; (iv) all revenues received in respect of any REO Property; (v) any Assignments
of Leases, Rents and Profits and any security agreements related to the Mortgage Loans; (vi) any indemnities or guaranties given
as additional security for any Mortgage Loans; (vii) a security interest in all assets deposited in the Lock-Box Accounts, Cash
Collateral Accounts, Escrow Accounts, and Reserve Accounts; (viii) the Loss of Value Reserve Fund; (ix) the Collection


 






    	A-4-4



    	 



    

 


Account,
the Serviced Whole Loan Collection Accounts, the Distribution Accounts, any Gain-on-Sale Reserve Account, the Interest Reserve
Account, and the Trust’s interest in any REO Account, including any amounts on deposit therein, assets credited thereto
and any reinvestment income, as applicable; (x) a security interest in any environmental indemnity agreements relating to the
Mortgaged Properties; (xi) a security interest in all insurance policies with respect to the Mortgage Loans and the Mortgaged
Properties; (xii) the rights and remedies under the Mortgage Loan Purchase Agreements relating to document delivery requirements
with respect to the Mortgage Loans and the representations and warranties of the related Mortgage Loan Seller regarding its Mortgage
Loans; (xiii) the Lower-Tier Regular Interests and (xiv) the proceeds of the foregoing (other than any interest earned on deposits
in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts and any Reserve Accounts, to the extent such interest belongs
to the related Borrower). As provided in the Pooling and Servicing Agreement, withdrawals may be made from certain of the above
accounts for purposes other than distributions to Certificateholders.


 


This
Certificate does not purport to summarize the Pooling and Servicing Agreement, and reference is made to the Pooling and Servicing
Agreement for the interests, rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights,
duties and immunities of the Certificate Administrator.


 


As
provided in the Pooling and Servicing Agreement and subject to certain limitations set forth therein, this Certificate is transferable
or exchangeable only upon surrender of this Certificate to the Certificate Registrar at its offices together with an assignment
and transfer (executed by the Holder or his duly authorized attorney), subject to the requirements in Article V of the Pooling
and Servicing Agreement. Upon surrender for registration of transfer of this Certificate, subject to the requirements Article
V of the Pooling and Servicing Agreement, the Certificate Administrator shall execute and the Authenticating Agent shall duly
authenticate in the name of the designated transferee or transferees, one or more new Certificates in authorized denominations
of a like aggregate denomination as the Certificate being surrendered. Such Certificates shall be delivered by the Certificate
Registrar in accordance with Article V of the Pooling and Servicing Agreement.


 


Prior
to due presentation of this Certificate for registration of transfer, the Depositor, the Master Servicer, the Special Servicer,
the Operating Advisor, the Asset Representations Reviewer, the Certificate Administrator, the Trustee, the Certificate Registrar,
any Paying Agent and any agent of any of them may treat the Person in whose name this Certificate is registered as the owner hereof
for all purposes, and none of the Depositor, the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee,
the Certificate Registrar, any Paying Agent or any agent of any of them shall be affected by notice or knowledge to the contrary.


 


No
fee or service charge shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer
or exchange referred to in Section 5.02 of the Pooling and Servicing Agreement other than for transfers to Institutional Accredited
Investors as provided in Section 5.02(h) of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional
Accredited Investor, the transferor shall reimburse the Trust Fund for any costs (including the cost of the Certificate Registrar’s
counsel’s review of the documents and


 






    	A-4-5



    	 



    

 


any
legal opinions, submitted by the transferor or transferee to the Certificate Registrar as provided in the Pooling and Servicing
Agreement) incurred by the Certificate Registrar in connection with such transfer. The Certificate Registrar may require payment
by each transferor of a sum sufficient to cover any tax, expense or other governmental charge payable in connection with any such
transfer.


 


The
Pooling and Servicing Agreement or any Custodial Agreement may be amended at any time by the Depositor, the Master Servicer, the
Special Servicer, the Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer and the Trustee without
the consent of any of the Certificateholders or any Serviced Companion Loan Noteholders, (i) to cure any ambiguity or to correct
any manifest error; (ii) to cause the provisions of the Pooling and Servicing Agreement or any Custodial Agreement to conform
or be consistent with or in furtherance of the statements made in the Prospectus or Private Placement Memorandum with respect
to the Certificates, the Trust or the Pooling and Servicing Agreement or to correct or supplement any provisions of the Pooling
and Servicing Agreement or any Custodial Agreement which may be defective or inconsistent with any other provisions of the Pooling
and Servicing Agreement or any Custodial Agreement; (iii) to change the timing and/or nature of deposits in the Collection Account,
the Distribution Accounts or any REO Account; provided that (a) the Master Servicer Remittance Date shall in no event be later
than the Business Day prior to the related Distribution Date and (b) such change shall not adversely affect in any material respect
the interests of any Certificateholder, as evidenced in writing by an Opinion of Counsel at the expense of the party requesting
such amendment or as evidenced by a Rating Agency Confirmation from each Rating Agency with respect to such amendment; (iv) to
modify, eliminate or add to any of its provisions to such extent as shall be necessary to maintain the qualification of any Trust
REMIC as a REMIC under the relevant provisions of the Code at all times that any Certificate is outstanding, or to avoid or minimize
the risk of imposition of any tax on the Trust Fund or any Trust REMIC that would be a claim against the Trust Fund or any Trust
REMIC; provided that the Trustee and the Certificate Administrator have received an Opinion of Counsel (at the expense
of the party requesting such amendment) to the effect that (a) such action is necessary or desirable to maintain such qualification
or to avoid or minimize the risk of the imposition of any such tax and (b) such action will not adversely affect in any material
respect the interests of any Certificateholder or Companion Loan Noteholder; (v) to modify, eliminate or add to the provisions
any provision hereof restricting transfer of the Class R Certificates; provided the Depositor has determined that such
change shall not, as evidenced by an Opinion of Counsel, cause the Trust Fund, any Trust REMIC or any of the Certificateholders
(other than the Transferor) to be subject to a federal tax caused by a Transfer to a Person that is a Disqualified Organization
or a Non-U.S. Tax Person; (vi) to revise or add any other provisions with respect to matters or questions arising under this Agreement
or any other change; provided that the required action shall not adversely affect in any material respect the interests
of any Certificateholder or any holder of a Serviced Pari Passu Companion Loan not consenting thereto as evidenced in writing
by an Opinion of Counsel, at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each of the Rating Agencies with respect to such amendment or supplement and confirmation of the applicable rating agencies
that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of any securities related
to a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied in the same manner
as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates); (vii) to amend or


 






    	A-4-6



    	 



    

 


supplement
any provision hereof to the extent necessary to maintain the then-current ratings assigned to each Class of Certificates by each
Rating Agency, as evidenced by a Rating Agency Confirmation from each of the Rating Agencies and confirmation of the applicable
rating agencies that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of
any securities related to a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied
in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates); provided that such amendment or supplement shall not adversely affect in any material respect the interests of any Certificateholder
not consenting thereto as evidenced by an Opinion of Counsel; (viii) to modify the provisions of Section 3.06 and Section
3.17 of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable Advances and Workout-Delayed
Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as a Control Termination Event
has not occurred and is not continuing, the Directing Certificateholder, determine that the commercial mortgage backed securities
industry standard for such provisions has changed, in order to conform to such industry standard, (b) such modification does not
adversely affect the status of any Trust REMIC as a REMIC under the relevant provisions of the Code, as evidenced by an Opinion
of Counsel and (c) each Rating Agency has delivered a Rating Agency Confirmation and, with regard to any class of Serviced Companion
Loan Securities, the applicable rating agencies have delivered a confirmation that such action will not result in the downgrade,
withdrawal or qualification of its then-current ratings (provided that such rating agency confirmation may be considered
satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates);
(ix) to modify the procedures of this Agreement relating to compliance with Rule 17g-5 of the Exchange Act; provided that
such amendment shall not adversely affect in any material respects the interests of any Certificateholders, as evidenced by (x)
an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation from each Rating Agency rating
such Certificates; and provided, further, that the Certificate Administrator shall give notice of any such amendment
to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website and the Certificate Administrator
shall post such notice to the Certificate Administrator’s Website; and (x) to modify, eliminate or add to any provisions
of the Pooling and Servicing Agreement to such extent as would be necessary to comply with the requirements for use of Form SF-3
in registered offerings to the extent provided in CFR 239.45(b)(1)(ii), (iii) or (iv).


 


The
Pooling and Servicing Agreement or any Custodial Agreement may also be amended from time to time by the Depositor, the Master
Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer and the
Trustee with the prior written consent of the Holders of Certificates representing not less than a majority of the Percentage
Interests of each Class of Certificates affected thereby (without regard to Certificates held by the Depositor, any of the Depositor’s
Affiliates and/or agents) and each Serviced Companion Loan Noteholder affected thereby for the purpose of adding any provisions
to or changing in any manner or eliminating any of the provisions of the Pooling and Servicing Agreement or modifying in any manner
the rights of the Certificateholders or the Serviced Companion Loan Noteholders; provided, that no such amendment may:


 


		(i)	reduce
in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans or Subordinate Companion Loan which
are required to be distributed on any Certificate, without the consent of the



 






    	A-4-7



    	 



    

 


			Holders of Certificates representing all of the Percentage Interests of the Class or Classes
                                                                            affected thereby or which are required to be distributed to any Companion Loan Noteholders without the consent of such
                                                                            Companion Loan Noteholders;



 


		(ii)	reduce
the aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment or remove
the requirement to obtain consent of any Companion Loan Noteholder, in any such case without the consent of the Holders of all
Certificates of such Class then-outstanding or such Companion Loan Noteholder, as applicable;



 


		(iii)	adversely
affect the Voting Rights of any Class of Certificates without the consent of the Holders of all Certificates of such Class then
outstanding;



 


		(iv)	change
in any manner any defined term used in any Mortgage Loan Purchase Agreement or the obligations of any Mortgage Loan Seller under
such Mortgage Loan Purchase Agreement or otherwise or change any rights of any Mortgage Loan Seller as a third party beneficiary
hereunder, without the consent of such Mortgage Loan Seller; or



		 	 



		(v)	amend
                                         the Servicing Standard without the consent of 100% of the Certificateholders or receipt
                                         of Rating Agency Confirmation from each Rating Agency and confirmation of the applicable
                                         rating agencies that such action will not result in the downgrade, withdrawal or qualification
                                         of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied in the same manner
                                         as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates).



 


Further,
the Depositor, the Master Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor, the Asset Representations
Reviewer and the Trustee, at any time and from time to time, without the consent of the Certificateholders or, if applicable,
the Serviced Companion Loan Noteholders, may amend the Pooling and Servicing Agreement to modify, eliminate or add to any of its
provisions (i) to such extent as shall be necessary to maintain the qualification of the Lower-Tier REMIC or the Upper-Tier REMIC
as a REMIC, or to prevent the imposition of any additional material state or local taxes, at all times that any Certificates are
outstanding; provided that such action, as evidenced by an Opinion of Counsel (obtained at the expense of the Trust Fund),
is necessary or helpful to maintain such qualification or to prevent the imposition of any such taxes, and would not adversely
affect in any material respect the interest of any Certificateholder or if applicable, any Serviced Companion Loan Noteholder
or (ii) to the extent necessary to comply with the Investment Company Act of 1940, as amended, the Exchange Act, Regulation AB,
and/or any related regulatory actions and/or interpretations.


 


The
Certificateholder owning a majority of the Percentage Interest in the Controlling Class and, if no such Certificateholder exercises
such option, the Special Servicer,


 






    	A-4-8



    	 



    

 


and
if the Special Servicer does not exercise such option, the Master Servicer may effect an early termination of the Trust Fund,
upon not less than 30 days’ prior Notice of Termination given to the Trustee, the Special Servicer and the Master Servicer
any time specifying the Anticipated Termination Date, which shall be on or after the Early Termination Notice Date (defined as
any date as of which the aggregate Stated Principal Balance of the Mortgage Loans remaining in the Trust is less than 1.0% of
the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date) by purchasing on such date all, but not less
than all, of the Mortgage Loans then included in the Trust Fund, and the Trust’s interest in all property acquired in respect
of any Mortgage Loan, at a purchase price, payable in cash, equal to the sum of, without duplication:


 


		(A)	100%
                                         of the Stated Principal Balance of each Mortgage Loan included in the Trust as of the
                                         last day of the month preceding such Anticipated Termination Date (less any P&I Advances
                                         previously made on account of principal);



 


		(B)	the
                                         fair market value of all other property included in the Trust Fund as of the last day
                                         of the month preceding such Anticipated Termination Date, as determined by an Independent
                                         appraiser acceptable to the Master Servicer as of a date not more than 30 days prior
                                         to the last day of the month preceding such Distribution Date;



 


		(C)	all
                                         unpaid interest accrued on the unpaid balance of each Mortgage Loan (including any Mortgage
                                         Loan as to which title to the related Mortgaged Property has been acquired) at the Mortgage
                                         Rate to the last day of the month preceding such Anticipated Termination Date (less any
                                         P&I Advances previously made on account of interest); and



 


		(D)	the
                                         aggregate amount of unreimbursed Advances, with interest thereon at the Reimbursement
                                         Rate, and unpaid Servicing Compensation, Special Servicing Compensation, Operating Advisor
                                         Fees, Certificate Administrator/Trustee Fees, the CREFC® Intellectual
                                         Property Royalty License Fees and Trust Fund expenses.



 


In
addition, the Pooling and Servicing Agreement provides that following the date on which the Class X-A Notional Amount, the Class
X-B Notional Amount, the Class X-C Notional Amount and the aggregate Certificate Balance of the Class A-1, Class A-2, Class A-SB,
Class A-3A, Class A-3B, Class A-4, Class A-M, Class B, Class C and Class D Certificates is reduced to zero, the Sole Certificateholder
shall have the right to exchange all of the then-outstanding Certificates (other than (i) the Class X-D, Class X-E Certificates
and Class X-F Certificates if the Sole Certificateholder has only taken an assignment of the Voting Rights of the Class X-D, Class
X-E Certificates and Class X-F Certificates pursuant to the definition of “Sole Certificateholder” and (ii) the Class
R Certificates) for all of the Mortgage Loans and each REO Property remaining in the Trust Fund as contemplated by clause (ii)
of Section 9.01(a) of the


 






    	A-4-9



    	 



    

 


Pooling
and Servicing Agreement by giving written notice to all the parties to the Pooling and Servicing Agreement no later than 60 days
prior to the anticipated date of exchange.


 


All
costs and expenses incurred by any and all parties to the Pooling and Servicing Agreement or by the Trust Fund in connection with
the purchase of the Mortgage Loans and the other assets of the Trust Fund pursuant to Section 9.01(c) of the Pooling and Servicing
Agreement shall be borne by the party exercising its purchase rights thereunder. The Trustee and the Certificate Administrator
shall be entitled to rely conclusively on any determination made by an Independent appraiser pursuant to Section 9.01(c) of the
Pooling and Servicing Agreement.


 


The
respective obligations and responsibilities of the Master Servicer, the Special Servicer, the Depositor, the Certificate Administrator,
the Operating Advisor, the Asset Representations Reviewer and the Trustee created by the Pooling and Servicing Agreement with
respect to the Certificates (other than the obligations of the Certificate Administrator to make certain payments and to send
certain notices to Certificateholders as set forth in the Pooling and Servicing Agreement) shall terminate upon payment (or provision
for payment) to the Certificateholders and the Serviced Companion Loan Noteholders of all amounts held by or on behalf of the
Trustee, the Certificate Administrator and the Master Servicer, as the case may be, required under the Pooling and Servicing Agreement
to be so paid on the Distribution Date following the earlier to occur of (i) the purchase of the Mortgage Loans and all other
property held by the Trust Fund in accordance with Section 9.01(c) of the Pooling and Servicing Agreement; (ii) the exchange by
the Sole Certificateholder of its Certificates for the Mortgage Loans in accordance with Section 9.01(g) of the Pooling and Servicing
Agreement; and (iii) the later of (a) the receipt or collection of the last payment due on any Mortgage Loan included in the Trust
Fund, or (b) the liquidation and disposition pursuant to the Pooling and Servicing Agreement of the last asset held by the Trust
Fund; provided that in no event shall the trust created by the Pooling and Servicing Agreement continue beyond the expiration
of 21 years from the death of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States
to the United Kingdom, living on the date hereof.


 


Unless
the Certificate of Authentication on this Certificate has been executed by the Authenticating Agent, by manual signature, this
Certificate shall not be entitled to any benefit under the Pooling and Servicing Agreement or be valid for any purpose.


 




    	A-4-10



    	 



    

 


IN
WITNESS WHEREOF, the Certificate Administrator has caused this Class A-3A Certificate to be duly executed.


 


Dated: April
__, 2016


   





	 	WELLS
FARGO BANK, NATIONAL ASSOCIATION, not in its individual capacity
but solely as Certificate Administrator
	 	 	 
		By:	 
	 	 	Authorized
Signatory









 


Certificate
of Authentication


 


This
is one of the Class A-3A Certificates referred to in the Pooling and Servicing Agreement.


 


Dated: April
__, 2016  





	 	 	 
	 	WELLS
FARGO BANK, NATIONAL ASSOCIATION, not in its individual capacity
but solely as Authenticating Agent

		 	 
		By:	 
	 	 	Authorized
Signatory


  




    	A-4-11



    	 



    

 


 








 


EXHIBIT A-5


 


FORM OF CLASS A-3B [RULE 144A] 1
[REG S]2 CERTIFICATE


 


[UNLESS THIS CERTIFICATE IS PRESENTED BY AN
AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE
REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &
CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]3


 


THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE
REGISTERED OR QUALIFIED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE
OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED, RESOLD,
PLEDGED OR OTHERWISE TRANSFERRED ONLY IN COMPLIANCE WITH THE SECURITIES ACT AND OTHER APPLICABLE LAWS, AND ONLY (A)(1) PURSUANT
TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (2) FOR SO LONG AS THIS CERTIFICATE IS
ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”), TO AN INSTITUTIONAL INVESTOR
THAT THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING OF RULE 144A (“QUALIFIED
INSTITUTIONAL BUYER”), PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF ANOTHER QUALIFIED INSTITUTIONAL BUYER, WHOM
THE HOLDER HAS INFORMED, IN EACH CASE, THAT THE REOFFER, RESALE, PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A,
(3) TO AN INSTITUTIONAL “ACCREDITED INVESTOR,” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION
D UNDER THE SECURITIES ACT OR ANY ENTITY IN WHICH ALL OF THE EQUITY OWNERS ARE SUCH ACCREDITED INVESTORS, OR (4) TO INSTITUTIONS
THAT ARE A NON-”U.S. PERSON” IN AN “OFFSHORE TRANSACTION,” AS SUCH TERMS ARE DEFINED IN, AND IN ACCORDANCE
WITH RULE 903 OR RULE 904 OF, REGULATION S UNDER THE SECURITIES ACT, AND (B) IN ACCORDANCE WITH ANY OTHER APPLICABLE SECURITIES
LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION.


 


 






1
For Rule 144A Global Certificates only.


2
For Reg S Global Certificates only.


3
Legend required as long as DTC is the Depository under the Pooling and Servicing Agreement.


 






    	A-5-1



    	 



    

 


THE INITIAL INVESTOR IN THIS CERTIFICATE, AND
EACH SUBSEQUENT PURCHASER OF THIS CERTIFICATE, BY PURCHASING THIS CERTIFICATE OR AN INTEREST HEREIN, IS DEEMED TO HAVE AGREED TO
COMPLY WITH CERTAIN TRANSFER REQUIREMENTS SET FORTH IN THE POOLING AND SERVICING AGREEMENT. A TRANSFEREE IS ALSO REQUIRED TO DELIVER
AN INVESTMENT REPRESENTATION LETTER SUBSTANTIALLY IN THE FORM OF EXHIBIT D-1 TO THE POOLING AND SERVICING AGREEMENT IF SUCH TRANSFEREE
IS A QUALIFIED INSTITUTIONAL BUYER OR (OTHER THAN WITH RESPECT TO A RESIDUAL CERTIFICATE) AN INSTITUTIONAL ACCREDITED INVESTOR,
AND MAY ALSO BE REQUIRED TO DELIVER AN OPINION OF COUNSEL IF SUCH TRANSFEREE IS NOT A QUALIFIED INSTITUTIONAL BUYER WITHIN THE
MEANING OF RULE 144A.


 


ANY HOLDER DESIRING TO EFFECT A TRANSFER OF
THIS CERTIFICATE SHALL, AND DOES HEREBY AGREE TO, INDEMNIFY THE CERTIFICATE REGISTRAR, THE CERTIFICATE ADMINISTRATOR, THE TRUSTEE,
THE MASTER SERVICER AND THE DEPOSITOR AGAINST ANY LOSS, LIABILITY OR EXPENSE THAT MAY RESULT IF THE TRANSFER IS NOT EXEMPT FROM
THE SECURITIES ACT OR IS NOT MADE IN ACCORDANCE WITH FEDERAL AND STATE LAWS.


 


THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION
OF OR INTEREST IN THE DEPOSITOR, THE ORIGINATOR, THE MASTER SERVICER, THE SPECIAL SERVICER, THE CERTIFICATE ADMINISTRATOR, THE
OPERATING ADVISOR, THE ASSET REPRESENTATIONS REVIEWER, THE TRUSTEE OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THE CERTIFICATES
NOR THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY.


 


PRINCIPAL PAYMENTS ON THIS CERTIFICATE ARE PAYABLE
IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.


 


TRANSFERS AND EXCHANGES OF PORTIONS OF THIS
CERTIFICATE ARE SUBJECT TO RESTRICTIONS AS PROVIDED IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.


 


THIS CERTIFICATE IS SUBORDINATE TO ONE OR MORE
OTHER CLASSES OF CERTIFICATES AS AND TO THE EXTENT SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.


 


FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE
REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE TERMS ARE DEFINED,
RESPECTIVELY, IN CODE SECTIONS 860G(a)(1) AND 860D.


 






    	A-5-2



    	 



    

 


[THIS CERTIFICATE HAS NOT BEEN AND WILL NOT
BE REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT AND, PRIOR TO THE DATE THAT IS 40 DAYS AFTER THE OFFERING OF THE CERTIFICATES,
MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED IN THE UNITED STATES OR TO A U.S. PERSON EXCEPT PURSUANT TO AN EXEMPTION
FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.]4


  


 



4
For Reg S Global Certificates only.


 






    	A-5-3



    	 



    

 


DBJPM 2016-C1 MORTGAGE TRUST COMMERCIAL MORTGAGE

PASS-THROUGH CERTIFICATES, CLASS A-3B


 


	Class A-3B Pass-Through Rate: 3.015%	 	
        CUSIP:    23312LAA65

        U2401LAA96

        23312LAX67

         

        ISIN:       US23312LAA618

        USU2401LAA999

        US23312LAX6410

         

	Original Aggregate Certificate Balance of the

Class A-3B Certificates: $75,000,000	 	Initial Certificate Balance of this Certificate: $[_____]
	 	 	 
	First Distribution Date: May 12, 2016	 	Cut-off Date: The close of business on the later of the related due date for each Mortgage Loan in April 2016 and the date of origination of such Mortgage Loan
	 	 	 
	Assumed Final Distribution Date: January 2026	 	No.: A-3B-[_]


 


This certifies that [          ]
is the registered owner of a beneficial ownership interest in a Trust Fund, including the distributions to be made with respect
to the Class A-3B Certificates. The Trust Fund, described more fully below, consists primarily of a pool of Mortgage Loans secured
by first liens on commercial, multifamily and manufactured housing community properties and held in trust by the Trustee and serviced
by the Master Servicer. The Trust Fund was created, and the Mortgage Loans are to be serviced, pursuant to the Pooling and Servicing
Agreement (as defined below). The Holder of this Certificate, by virtue of the acceptance hereof, assents to the terms, provisions
and conditions of the Pooling and Servicing Agreement and is bound thereby.


 


The Pooling and Servicing Agreement,
dated as of April 1, 2016 (the “Pooling and Servicing Agreement”), between the Depositor, Wells Fargo Bank,
National Association, as master servicer (in such capacity, the “Master Servicer”), Midland Loan Services, a
Division of PNC Bank, National Association, as special servicer (the “Special Servicer”), Wilmington Trust,
National Association, as trustee (the “Trustee”), Wells Fargo Bank, National Association, as certificate administrator
(in such capacity, the “Certificate Administrator”), paying agent and custodian, Park Bridge Lender Services
LLC, as operating advisor (in such capacity, the





 


 



5
For Rule 144A Certificates


6
For Regulation S Certificates


7
For IAI Certificates


8
For Rule 144A Certificates


9
For Regulation S Certificates


10
For IAI Certificates


 



    	A-5-4



    	 



    

 


“Operating Advisor”),
and Park Bridge Lender Services LLC, as asset representations reviewer (in such
capacity, the “Asset Representations Reviewer”) evidences the issuance of the Class A-1, Class A-2, Class A-SB,
Class A-3A, Class A-4, Class X-A, Class A-M, Class B, Class C, Class A-3B, Class X-B, Class X-C, Class X-D, Class X-E, Class X-F,
Class D, Class E, Class F, Class G, Class H and Class R Certificates (the “Certificates”; the Holders of Certificates
issued under the Pooling and Servicing Agreement are collectively referred to herein as “Certificateholders”).
This Certificate is issued pursuant to, and in accordance with, the terms of the Pooling and Servicing Agreement. To the extent
not defined herein, capitalized terms used herein shall have the meanings assigned thereto in the Pooling and Servicing Agreement.


 


This Certificate represents a
“regular interest” in a “real estate mortgage investment conduit”, as those terms are defined, respectively,
in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this Certificate, by acceptance
hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in accordance with the preceding
sentence for purposes of federal income taxes, state and local income and franchise taxes and other taxes imposed on or measured
by income.


 


The Certificate Administrator
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Mortgage Loans and has executed this Certificate in its limited capacity as Certificate Administrator under the Pooling
and Servicing Agreement. In the event that there is any conflict between any provision of this Certificate and any provision of
the Pooling and Servicing Agreement, such provision of this Certificate shall be superseded to the extent of such inconsistency.


 


Pursuant to the terms of the
Pooling and Servicing Agreement, the Certificate Administrator, or the Paying Agent on behalf of the Certificate Administrator,
will distribute (other than the final distribution on any Certificate), on the fourth Business Day after each Determination Date
(each such date, a “Distribution Date”) an amount equal to such Person’s pro rata share (based on the
Percentage Interest represented by this Certificate) of that portion of the aggregate amount of principal and interest then distributable,
if any, allocable to the Class A-3B Certificates for such Distribution Date, all as more fully described in the Pooling and Servicing
Agreement. “Determination Date” is defined in the Pooling and Servicing Agreement as the sixth day of each month, or
if such sixth day is not a Business Day, then the next Business Day, commencing in May 2016. Holders of this Certificate may be
entitled to Prepayment Premiums and Yield Maintenance Charges as provided in the Pooling and Servicing Agreement.


 


During each Interest Accrual
Period (as defined below), interest on the Class A-3B Certificates will be calculated based on a 360-day year consisting of twelve
30-day months on the outstanding Certificate Balance hereof.


 


Interest accrued on this Certificate
during an Interest Accrual Period, plus the aggregate unpaid Interest Shortfall with respect to this Certificate, if any, will
be payable on the related Distribution Date to the extent provided in the Pooling and Servicing Agreement. The “Interest
Accrual Period” means, with respect to any Distribution Date, the calendar month immediately preceding the month in which
such Distribution Date occurs. Each Interest Accrual Period is assumed to consist of 30 days.


 






    	A-5-5



    	 



    

 


All distributions (other than
the final distribution on any Certificate) will be made by the Paying Agent to the Persons in whose names the Certificates are
registered at the close of business on each Record Date, which will be the close of business on the last Business Day of the calendar
month preceding the month in which such Distribution Date occurs. Such distributions shall be made on each Distribution Date other
than the Termination Date to each Certificateholder of record on the related Record Date, (i) by wire transfer of immediately available
funds to the account of such Holder at a bank or other entity located in the United States and having appropriate facilities therefor
if such Holder shall have provided the Paying Agent with wire instructions in writing at least five Business Days prior to the
related Record Date (which wiring instructions may be in the form of a standing order applicable to all subsequent distributions),
or (ii) otherwise, by check mailed by first-class mail to the address set forth therefor in the Certificate Register. The final
distribution on each Certificate shall be made in like manner, but only upon presentment and surrender of such Certificate at the
office of the Certificate Administrator or its agent (which may be the Paying Agent or the Certificate Registrar acting as such
agent) that is specified in the notice to Holders of such final distribution.


 


Any funds not distributed on
the Termination Date because of the failure of any Certificateholders to tender their Certificates shall, on such date, be set
aside and held for the benefit of the appropriate non-tendering Certificateholders. If any Certificates as to which notice of the
Termination Date has been given pursuant to the Pooling and Servicing Agreement shall not have been surrendered for cancellation
within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders to surrender their Certificates for cancellation to receive the final distribution with respect
thereto. If within one year after the second notice not all of such Certificates shall have been surrendered for cancellation,
the Certificate Administrator may, directly or through an agent, take appropriate steps to contact the remaining non-tendering
Certificateholders concerning surrender of their Certificates. The costs and expenses of holding such funds in trust and of contacting
such Certificateholders shall be paid out of such funds. Subject to applicable state escheatment laws, if within two years after
the second notice any such Certificates shall not have been surrendered for cancellation, the Paying Agent shall distribute to
the Certificate Administrator all amounts distributable to the Holders thereof, and the Certificate Administrator shall thereafter
hold such amounts for the benefit of such Holders until the earlier of (i) its termination as Certificate Administrator under the
Pooling and Servicing Agreement and the transfer of such amounts to a successor Certificate Administrator and (ii) the termination
of the Trust Fund and distribution of such amounts to the Class R Certificateholders. No interest shall accrue or be payable to
any Certificateholder on any amount held under the Pooling and Servicing Agreement or by the Certificate Administrator as a result
of such Certificateholder’s failure to surrender its Certificate(s) for final payment thereof in accordance with the Pooling
and Servicing Agreement. Any such amounts transferred to the Certificate Administrator may be invested in Permitted Investments
and all income and gain realized from investment of such funds shall accrue for its benefit.


 


This Certificate is limited in
right of payment to, among other things, certain collections and recoveries in respect of the Mortgage Loans, as more specifically
set forth herein and in the Pooling and Servicing Agreement.


 






    	A-5-6



    	 



    

 


As provided in the Pooling and
Servicing Agreement, the Trust Fund includes (in each case, to the extent of the Trust Fund’s interest therein and specifically
excluding any interest of any Serviced Companion Loan Noteholder therein): (i) such Mortgage Loans as from time to time are subject
to the Pooling and Servicing Agreement, together with the Mortgage Files relating thereto; (ii) all scheduled or unscheduled payments
on or collections in respect of the Mortgage Loans due after the Cut-off Date; (iii) the Trust Fund’s interest in any REO
Property; (iv) all revenues received in respect of any REO Property; (v) any Assignments of Leases, Rents and Profits and any security
agreements related to the Mortgage Loans; (vi) any indemnities or guaranties given as additional security for any Mortgage Loans;
(vii) a security interest in all assets deposited in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts, and Reserve
Accounts; (viii) the Loss of Value Reserve Fund; (ix) the Collection Account, the Serviced Whole Loan Collection Accounts, the
Distribution Accounts, any Gain-on-Sale Reserve Account, the Interest Reserve Account, and the Trust’s interest in any REO
Account, including any amounts on deposit therein, assets credited thereto and any reinvestment income, as applicable; (x) a security
interest in any environmental indemnity agreements relating to the Mortgaged Properties; (xi) a security interest in all insurance
policies with respect to the Mortgage Loans and the Mortgaged Properties; (xii) the rights and remedies under the Mortgage Loan
Purchase Agreements relating to document delivery requirements with respect to the Mortgage Loans and the representations and warranties
of the related Mortgage Loan Seller regarding its Mortgage Loans; (xiii) the Lower-Tier Regular Interests and (xiv) the proceeds
of the foregoing (other than any interest earned on deposits in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts
and any Reserve Accounts, to the extent such interest belongs to the related Borrower). As provided in the Pooling and Servicing
Agreement, withdrawals may be made from certain of the above accounts for purposes other than distributions to Certificateholders.


 


This Certificate does not purport
to summarize the Pooling and Servicing Agreement, and reference is made to the Pooling and Servicing Agreement for the interests,
rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and immunities of
the Certificate Administrator.


 


As provided in the Pooling and
Servicing Agreement and subject to certain limitations set forth therein, this Certificate is transferable or exchangeable only
upon surrender of this Certificate to the Certificate Registrar at its offices together with an assignment and transfer (executed
by the Holder or his duly authorized attorney), subject to the requirements in Article V of the Pooling and Servicing Agreement.
Upon surrender for registration of transfer of this Certificate, subject to the requirements Article V of the Pooling and Servicing
Agreement, the Certificate Administrator shall execute and the Authenticating Agent shall duly authenticate in the name of the
designated transferee or transferees, one or more new Certificates in authorized denominations of a like aggregate denomination
as the Certificate being surrendered. Such Certificates shall be delivered by the Certificate Registrar in accordance with Article
V of the Pooling and Servicing Agreement.


 


Prior to due presentation of
this Certificate for registration of transfer, the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor,
the Asset Representations Reviewer, the Certificate Administrator, the Trustee, the Certificate Registrar, any Paying Agent and
any agent of any of them may treat the Person in whose name this


 



    	A-5-7



    	 



    

 


Certificate is registered as the owner hereof for all purposes,
and none of the Depositor, the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Certificate
Registrar, any Paying Agent or any agent of any of them shall be affected by notice or knowledge to the contrary.


 


No fee or service charge shall
be imposed by the Certificate Registrar for its services in respect of any registration of transfer or exchange referred to in
Section 5.02 of the Pooling and Servicing Agreement other than for transfers to Institutional Accredited Investors as provided
in Section 5.02(h) of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional Accredited Investor,
the transferor shall reimburse the Trust Fund for any costs (including the cost of the Certificate Registrar’s counsel’s
review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar as provided
in the Pooling and Servicing Agreement) incurred by the Certificate Registrar in connection with such transfer. The Certificate
Registrar may require payment by each transferor of a sum sufficient to cover any tax, expense or other governmental charge payable
in connection with any such transfer.


 


The Pooling and Servicing Agreement
or any Custodial Agreement may be amended at any time by the Depositor, the Master Servicer, the Special Servicer, the Certificate
Administrator, the Operating Advisor, the Asset Representations Reviewer and the Trustee without the consent of any of the Certificateholders
or any Serviced Companion Loan Noteholders, (i) to cure any ambiguity or to correct any manifest error; (ii) to cause the provisions
of the Pooling and Servicing Agreement or any Custodial Agreement to conform or be consistent with or in furtherance of the statements
made in the Prospectus or Private Placement Memorandum with respect to the Certificates, the Trust or the Pooling and Servicing
Agreement or to correct or supplement any provisions of the Pooling and Servicing Agreement or any Custodial Agreement which may
be defective or inconsistent with any other provisions of the Pooling and Servicing Agreement or any Custodial Agreement; (iii)
to change the timing and/or nature of deposits in the Collection Account, the Distribution Accounts or any REO Account; provided
that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment; (iv) to modify, eliminate or add to any of its provisions to such extent
as shall be necessary to maintain the qualification of any Trust REMIC as a REMIC under the relevant provisions of the Code at
all times that any Certificate is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust Fund or any
Trust REMIC that would be a claim against the Trust Fund or any Trust REMIC; provided that the Trustee and the Certificate
Administrator have received an Opinion of Counsel (at the expense of the party requesting such amendment) to the effect that (a)
such action is necessary or desirable to maintain such qualification or to avoid or minimize the risk of the imposition of any
such tax and (b) such action will not adversely affect in any material respect the interests of any Certificateholder or Companion
Loan Noteholder; (v) to modify, eliminate or add to the provisions any provision hereof restricting transfer of the Class R Certificates;
provided the Depositor has determined that such change shall not, as evidenced by an Opinion of Counsel, cause the Trust
Fund, any Trust REMIC or any of the Certificateholders (other than the Transferor) to be subject to a federal tax caused by a Transfer
to a Person that is a


 



    	A-5-8



    	 



    

 


Disqualified Organization or a Non-U.S. Tax Person; (vi) to revise or add any other provisions with respect
to matters or questions arising under this Agreement or any other change; provided that the required action shall not adversely
affect in any material respect the interests of any Certificateholder or any holder of a Serviced Pari Passu Companion Loan not
consenting thereto as evidenced in writing by an Opinion of Counsel, at the expense of the party requesting such amendment or as
evidenced by a Rating Agency Confirmation from each of the Rating Agencies with respect to such amendment or supplement and confirmation
of the applicable rating agencies that such action will not result in the downgrade, withdrawal or qualification of its then-current
ratings of any securities related to a Companion Loan, if any (provided that such rating agency confirmation may be considered
satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates); (vii)
to amend or supplement any provision hereof to the extent necessary to maintain the then-current ratings assigned to each Class
of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of the Rating Agencies and confirmation
of the applicable rating agencies that such action will not result in the downgrade, withdrawal or qualification of its then-current
ratings of any securities related to a Companion Loan, if any (provided that such rating agency confirmation may be considered
satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates); provided
that such amendment or supplement shall not adversely affect in any material respect the interests of any Certificateholder not
consenting thereto as evidenced by an Opinion of Counsel; (viii) to modify the provisions of Section 3.06 and Section
3.17 of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable Advances and Workout-Delayed Reimbursement
Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as a Control Termination Event has not occurred
and is not continuing, the Directing Certificateholder, determine that the commercial mortgage backed securities industry standard
for such provisions has changed, in order to conform to such industry standard, (b) such modification does not adversely affect
the status of any Trust REMIC as a REMIC under the relevant provisions of the Code, as evidenced by an Opinion of Counsel and (c)
each Rating Agency has delivered a Rating Agency Confirmation and, with regard to any class of Serviced Companion Loan Securities,
the applicable rating agencies have delivered a confirmation that such action will not result in the downgrade, withdrawal or qualification
of its then-current ratings (provided that such rating agency confirmation may be considered satisfied in the same manner
as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates); (ix) to modify the procedures
of this Agreement relating to compliance with Rule 17g-5 of the Exchange Act; provided that such amendment shall not adversely
affect in any material respects the interests of any Certificateholders, as evidenced by (x) an Opinion of Counsel or (y) if any
Certificate is then rated, receipt of Rating Agency Confirmation from each Rating Agency rating such Certificates; and provided,
further, that the Certificate Administrator shall give notice of any such amendment to the 17g-5 Information Provider for
posting to the 17g-5 Information Provider’s Website and the Certificate Administrator shall post such notice to the Certificate
Administrator’s Website; and (x) to modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to
such extent as would be necessary to comply with the requirements for use of Form SF-3 in registered offerings to the extent provided
in CFR 239.45(b)(1)(ii), (iii) or (iv).


 


The Pooling and Servicing Agreement
or any Custodial Agreement may also be amended from time to time by the Depositor, the Master Servicer, the Special Servicer, the
Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer and the


 



    	A-5-9



    	 



    

 


Trustee with the prior written consent
of the Holders of Certificates representing not less than a majority of the Percentage Interests of each Class of Certificates
affected thereby (without regard to Certificates held by the Depositor, any of the Depositor’s Affiliates and/or agents)
and each Serviced Companion Loan Noteholder affected thereby for the purpose of adding any provisions to or changing in any manner
or eliminating any of the provisions of the Pooling and Servicing Agreement or modifying in any manner the rights of the Certificateholders
or the Serviced Companion Loan Noteholders; provided, that no such amendment may:


 


		(i)	reduce in any manner the amount of, or delay the timing
of, payments received on the Mortgage Loans or Subordinate Companion Loan which are required to be distributed on any Certificate,
without the consent of the Holders of Certificates representing all of the Percentage Interests of the Class or Classes affected
thereby or which are required to be distributed to any Companion Loan Noteholders without the consent of such Companion Loan Noteholders;



 


		(ii)	reduce the aforesaid percentage of Certificates of any
Class the Holders of which are required to consent to any such amendment or remove the requirement to obtain consent of any Companion
Loan Noteholder, in any such case without the consent of the Holders of all Certificates of such Class then-outstanding or such
Companion Loan Noteholder, as applicable;



 


		(iii)	adversely affect the Voting Rights of any Class of Certificates
without the consent of the Holders of all Certificates of such Class then outstanding;



 


		(iv)	change in any manner any defined term used in any Mortgage
Loan Purchase Agreement or the obligations of any Mortgage Loan Seller under such Mortgage Loan Purchase Agreement or otherwise
or change any rights of any Mortgage Loan Seller as a third party beneficiary hereunder, without the consent of such Mortgage
Loan Seller; or



 


		(v)	amend the Servicing Standard without the consent of 100%
of the Certificateholders or receipt of Rating Agency Confirmation from each Rating Agency and confirmation of the applicable
rating agencies that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of
any securities related to a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied
in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates).



 


Further, the Depositor, the Master
Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer and the
Trustee, at any time and from time to time, without the consent of the Certificateholders or, if applicable, the Serviced Companion
Loan Noteholders, may amend the Pooling and Servicing Agreement to modify, eliminate or add to any of its provisions (i) to such
extent as shall be necessary to maintain the qualification of the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC, or


 



    	A-5-10



    	 



    

 


to prevent
the imposition of any additional material state or local taxes, at all times that any Certificates are outstanding; provided
that such action, as evidenced by an Opinion of Counsel (obtained at the expense of the Trust Fund), is necessary or helpful
to maintain such qualification or to prevent the imposition of any such taxes, and would not adversely affect in any material respect
the interest of any Certificateholder or if applicable, any Serviced Companion Loan Noteholder or (ii) to the extent necessary
to comply with the Investment Company Act of 1940, as amended, the Exchange Act, Regulation AB, and/or any related regulatory actions
and/or interpretations.


 


The Certificateholder owning
a majority of the Percentage Interest in the Controlling Class and, if no such Certificateholder exercises such option, the Special
Servicer, and if the Special Servicer does not exercise such option, the Master Servicer may effect an early termination of the
Trust Fund, upon not less than 30 days’ prior Notice of Termination given to the Trustee, the Special Servicer and the Master
Servicer any time specifying the Anticipated Termination Date, which shall be on or after the Early Termination Notice Date (defined
as any date as of which the aggregate Stated Principal Balance of the Mortgage Loans remaining in the Trust is less than 1.0% of
the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date) by purchasing on such date all, but not less
than all, of the Mortgage Loans then included in the Trust Fund, and the Trust’s interest in all property acquired in respect
of any Mortgage Loan, at a purchase price, payable in cash, equal to the sum of, without duplication:


 


		(A)	100% of the Stated Principal Balance of each Mortgage Loan included in the Trust as of the last
day of the month preceding such Anticipated Termination Date (less any P&I Advances previously made on account of principal);



 


		(B)	the fair market value of all other property included in the Trust Fund as of the last day of the
month preceding such Anticipated Termination Date, as determined by an Independent appraiser acceptable to the Master Servicer
as of a date not more than 30 days prior to the last day of the month preceding such Distribution Date;



 


		(C)	all unpaid interest accrued on the unpaid balance of each Mortgage Loan (including any Mortgage
Loan as to which title to the related Mortgaged Property has been acquired) at the Mortgage Rate to the last day of the month preceding
such Anticipated Termination Date (less any P&I Advances previously made on account of interest); and



 


		(D)	the aggregate amount of unreimbursed
                                         Advances, with interest thereon at the Reimbursement Rate, and unpaid Servicing Compensation,
                                         Special Servicing Compensation, Operating Advisor Fees, Certificate Administrator/Trustee
                                         Fees, the CREFC® Intellectual Property Royalty License Fees and Trust
                                         Fund expenses.



 






    	A-5-11



    	 



    

 


In addition, the Pooling and
Servicing Agreement provides that following the date on which the Class X-A Notional Amount, the Class X-B Notional Amount, the
Class X-C Notional Amount and the aggregate Certificate Balance of the Class A-1, Class A-2, Class A-SB, Class A-3A, Class A-3B,
Class A-4, Class A-M, Class B, Class C and Class D Certificates is reduced to zero, the Sole Certificateholder shall have the right
to exchange all of the then-outstanding Certificates (other than (i) the Class X-D, Class X-E Certificates and Class X-F Certificates
if the Sole Certificateholder has only taken an assignment of the Voting Rights of the Class X-D, Class X-E Certificates and Class
X-F Certificates pursuant to the definition of “Sole Certificateholder” and (ii) the Class R Certificates) for all
of the Mortgage Loans and each REO Property remaining in the Trust Fund as contemplated by clause (ii) of Section 9.01(a) of the
Pooling and Servicing Agreement by giving written notice to all the parties to the Pooling and Servicing Agreement no later than
60 days prior to the anticipated date of exchange.


 


All costs and expenses incurred
by any and all parties to the Pooling and Servicing Agreement or by the Trust Fund in connection with the purchase of the Mortgage
Loans and the other assets of the Trust Fund pursuant to Section 9.01(c) of the Pooling and Servicing Agreement shall be borne
by the party exercising its purchase rights thereunder. The Trustee and the Certificate Administrator shall be entitled to rely
conclusively on any determination made by an Independent appraiser pursuant to Section 9.01(c) of the Pooling and Servicing Agreement.


 


The respective obligations and
responsibilities of the Master Servicer, the Special Servicer, the Depositor, the Certificate Administrator, the Operating Advisor,
the Asset Representations Reviewer and the Trustee created by the Pooling and Servicing Agreement with respect to the Certificates
(other than the obligations of the Certificate Administrator to make certain payments and to send certain notices to Certificateholders
as set forth in the Pooling and Servicing Agreement) shall terminate upon payment (or provision for payment) to the Certificateholders
and the Serviced Companion Loan Noteholders of all amounts held by or on behalf of the Trustee, the Certificate Administrator and
the Master Servicer, as the case may be, required under the Pooling and Servicing Agreement to be so paid on the Distribution Date
following the earlier to occur of (i) the purchase of the Mortgage Loans and all other property held by the Trust Fund in accordance
with Section 9.01(c) of the Pooling and Servicing Agreement; (ii) the exchange by the Sole Certificateholder of its Certificates
for the Mortgage Loans in accordance with Section 9.01(g) of the Pooling and Servicing Agreement; and (iii) the later of (a) the
receipt or collection of the last payment due on any Mortgage Loan included in the Trust Fund, or (b) the liquidation and disposition
pursuant to the Pooling and Servicing Agreement of the last asset held by the Trust Fund; provided that in no event shall
the trust created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years from the death of the last
survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the United Kingdom, living on the
date hereof.


 


Unless the Certificate of Authentication
on this Certificate has been executed by the Authenticating Agent, by manual signature, this Certificate shall not be entitled
to any benefit under the Pooling and Servicing Agreement or be valid for any purpose.


 




    	A-5-12



    	 



    

 


IN WITNESS WHEREOF, the Certificate
Administrator has caused this Class A-3B Certificate to be duly executed.


 


Dated: April __, 2016


	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Certificate Administrator
	 	 	 
	 	By:	 
	 	 	Authorized Signatory






 


Certificate of Authentication


 


This is one of the Class A-3B
Certificates referred to in the Pooling and Servicing Agreement.


 


Dated: April __, 2016





	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Authenticating Agent
	 	 	 
	 	By:	 
	 	 	Authorized Signatory


 






    	A-5-13



    	 



    

 






 


EXHIBIT A-6


 


FORM OF CLASS A-4 CERTIFICATE


 


[UNLESS THIS CERTIFICATE IS PRESENTED BY AN
AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE
REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &
CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]1


 


THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION
OF OR INTEREST IN THE DEPOSITOR, THE ORIGINATOR, THE MASTER SERVICER, THE SPECIAL SERVICER, THE CERTIFICATE ADMINISTRATOR, THE
CERTIFICATE REGISTRAR, THE OPERATING ADVISOR, THE ASSET REPRESENTATIONS REVIEWER, THE TRUSTEE OR ANY OF THEIR RESPECTIVE AFFILIATES.
NEITHER THE CERTIFICATES NOR THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY.


 


PRINCIPAL PAYMENTS ON THIS CERTIFICATE ARE PAYABLE
IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.


 


FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE
REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE TERMS ARE DEFINED,
RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED.


 





 



 


1 Legend
required as long as DTC is the Depository under the Pooling and Servicing Agreement.


 






    	 	 A-6-1	 



    	 



    

 


DBJPM 2016-C1 MORTGAGE TRUST COMMERCIAL MORTGAGE

PASS-THROUGH CERTIFICATES, CLASS A-4


 


	Class A-4 Pass-Through Rate: 3.276%	 	
CUSIP: 23312LAS7

         

        ISIN:    US23312LAS79

         

	Original Aggregate Certificate Balance of the

Class A-4 Certificates: $247,714,000	 	Initial Certificate Balance of this Certificate: $247,714,000
	 	 	 
	First Distribution Date: May 12, 2016	 	Cut-off Date: The close of business on the later of the related due date for each Mortgage Loan in April 2016 and the date of origination of such Mortgage Loan
	 	 	 
	Assumed Final Distribution Date: February 2026	 	No.: A-4-[_]


 


This certifies that [_________]
is the registered owner of a beneficial ownership interest in a Trust Fund, including the distributions to be made with respect
to the Class A-4 Certificates. The Trust Fund, described more fully below, consists primarily of a pool of Mortgage Loans secured
by first liens on commercial, multifamily and manufactured housing community properties and held in trust by the Trustee and serviced
by the Master Servicer. The Trust Fund was created, and the Mortgage Loans are to be serviced, pursuant to the Pooling and Servicing
Agreement (as defined below). The Holder of this Certificate, by virtue of the acceptance hereof, assents to the terms, provisions
and conditions of the Pooling and Servicing Agreement and is bound thereby.


 


The Pooling and Servicing Agreement,
dated as of April 1, 2016 (the “Pooling and Servicing Agreement”), between the Depositor, Wells Fargo Bank,
National Association, as master servicer (in such capacity, the “Master Servicer”), Midland Loan Services, a
Division of PNC Bank, National Association, as special servicer (the “Special Servicer”), Wilmington Trust,
National Association, as trustee (the “Trustee”), Wells Fargo Bank, National Association, as certificate administrator
(in such capacity, the “Certificate Administrator”), paying agent and custodian, Park Bridge Lender Services
LLC, as operating advisor (in such capacity, the “Operating Advisor”), and Park Bridge Lender Services
LLC, as asset representations reviewer (in such capacity, the “Asset Representations Reviewer”) evidences
the issuance of the Class A-1, Class A-2, Class A-SB, Class A-3A, Class A-4, Class X-A, Class A-M, Class B, Class C, Class A-3B,
Class X-B, Class X-C, Class X-D, Class X-E, Class X-F, Class D, Class E, Class F, Class G, Class H and Class R Certificates (the
“Certificates”; the Holders of Certificates issued under the Pooling and Servicing Agreement are collectively
referred to herein as “Certificateholders”). This Certificate is issued pursuant to, and in accordance with,
the terms of the Pooling and Servicing Agreement. To the extent not defined herein, capitalized terms used herein shall have the
meanings assigned thereto in the Pooling and Servicing Agreement.


 






    	 	 A-6-2	 



    	 



    

 


This Certificate represents a
“regular interest” in a “real estate mortgage investment conduit”, as those terms are defined, respectively,
in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this Certificate, by acceptance
hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in accordance with the preceding
sentence for purposes of federal income taxes, state and local income and franchise taxes and other taxes imposed on or measured
by income.


 


The Certificate Administrator
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Mortgage Loans and has executed this Certificate in its limited capacity as Certificate Administrator under the Pooling
and Servicing Agreement. In the event that there is any conflict between any provision of this Certificate and any provision of
the Pooling and Servicing Agreement, such provision of this Certificate shall be superseded to the extent of such inconsistency.


 


Pursuant to the terms of the
Pooling and Servicing Agreement, the Certificate Administrator, or the Paying Agent on behalf of the Certificate Administrator,
will distribute (other than the final distribution on any Certificate), on the fourth Business Day after each Determination Date
(each such date, a “Distribution Date”) an amount equal to such Person’s pro rata share (based on the
Percentage Interest represented by this Certificate) of that portion of the aggregate amount of principal and interest then distributable,
if any, allocable to the Class A-4 Certificates for such Distribution Date, all as more fully described in the Pooling and Servicing
Agreement. “Determination Date” is defined in the Pooling and Servicing Agreement as the sixth day of each month, or
if such sixth day is not a Business Day, then the next Business Day, commencing in May 2016. Holders of this Certificate may be
entitled to Prepayment Premiums and Yield Maintenance Charges as provided in the Pooling and Servicing Agreement.


 


During each Interest Accrual
Period (as defined below), interest on the Class A-4 Certificates will be calculated based on a 360-day year consisting of twelve
30-day months on the outstanding Certificate Balance hereof.


 


Interest accrued on this Certificate
during an Interest Accrual Period, plus the aggregate unpaid Interest Shortfall with respect to this Certificate, if any, will
be payable on the related Distribution Date to the extent provided in the Pooling and Servicing Agreement. The “Interest
Accrual Period” means, with respect to any Distribution Date, the calendar month immediately preceding the month in which
such Distribution Date occurs. Each Interest Accrual Period is assumed to consist of 30 days.


 


All distributions (other than
the final distribution on any Certificate) will be made by the Paying Agent to the Persons in whose names the Certificates are
registered at the close of business on each Record Date, which will be the close of business on the last Business Day of the calendar
month preceding the month in which such Distribution Date occurs. Such distributions shall be made on each Distribution Date other
than the Termination Date to each Certificateholder of record on the related Record Date, (i) by wire transfer of immediately available
funds to the account of such Holder at a bank or other entity located in the United States and having appropriate facilities therefor
if such Holder shall have provided the Paying Agent with wire instructions in writing at least five Business Days prior to the
related Record Date (which wiring instructions may be in the form of a standing order applicable to all


 



    	 	 A-6-3	 



    	 



    

 


subsequent distributions),
or (ii) otherwise, by check mailed by first-class mail to the address set forth therefor in the Certificate Register. The final
distribution on each Certificate shall be made in like manner, but only upon presentment and surrender of such Certificate at the
office of the Certificate Administrator or its agent (which may be the Paying Agent or the Certificate Registrar acting as such
agent) that is specified in the notice to Holders of such final distribution.


 


Any funds not distributed on
the Termination Date because of the failure of any Certificateholders to tender their Certificates shall, on such date, be set
aside and held for the benefit of the appropriate non-tendering Certificateholders. If any Certificates as to which notice of the
Termination Date has been given pursuant to the Pooling and Servicing Agreement shall not have been surrendered for cancellation
within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders to surrender their Certificates for cancellation to receive the final distribution with respect
thereto. If within one year after the second notice not all of such Certificates shall have been surrendered for cancellation,
the Certificate Administrator may, directly or through an agent, take appropriate steps to contact the remaining non-tendering
Certificateholders concerning surrender of their Certificates. The costs and expenses of holding such funds in trust and of contacting
such Certificateholders shall be paid out of such funds. Subject to applicable state escheatment laws, if within two years after
the second notice any such Certificates shall not have been surrendered for cancellation, the Paying Agent shall distribute to
the Certificate Administrator all amounts distributable to the Holders thereof, and the Certificate Administrator shall thereafter
hold such amounts for the benefit of such Holders until the earlier of (i) its termination as Certificate Administrator under the
Pooling and Servicing Agreement and the transfer of such amounts to a successor Certificate Administrator and (ii) the termination
of the Trust Fund and distribution of such amounts to the Class R Certificateholders. No interest shall accrue or be payable to
any Certificateholder on any amount held under the Pooling and Servicing Agreement or by the Certificate Administrator as a result
of such Certificateholder’s failure to surrender its Certificate(s) for final payment thereof in accordance with the Pooling
and Servicing Agreement. Any such amounts transferred to the Certificate Administrator may be invested in Permitted Investments
and all income and gain realized from investment of such funds shall accrue for its benefit.


 


This Certificate is limited in
right of payment to, among other things, certain collections and recoveries in respect of the Mortgage Loans, as more specifically
set forth herein and in the Pooling and Servicing Agreement.


 


As provided in the Pooling and
Servicing Agreement, the Trust Fund includes (in each case, to the extent of the Trust Fund’s interest therein and specifically
excluding any interest of any Serviced Companion Loan Noteholder therein): (i) such Mortgage Loans as from time to time are subject
to the Pooling and Servicing Agreement, together with the Mortgage Files relating thereto; (ii) all scheduled or unscheduled payments
on or collections in respect of the Mortgage Loans due after the Cut-off Date; (iii) the Trust Fund’s interest in any REO
Property; (iv) all revenues received in respect of any REO Property; (v) any Assignments of Leases, Rents and Profits and any security
agreements related to the Mortgage Loans; (vi) any indemnities or guaranties given as additional security for any Mortgage Loans;
(vii) a security interest in all assets deposited in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts, and Reserve
Accounts; (viii) the Loss of Value Reserve Fund; (ix) the Collection


 



    	 	 A-6-4	 



    	 



    

 


Account, the Serviced Whole Loan Collection Accounts, the
Distribution Accounts, any Gain-on-Sale Reserve Account, the Interest Reserve Account, and the Trust’s interest in any REO
Account, including any amounts on deposit therein, assets credited thereto and any reinvestment income, as applicable; (x) a security
interest in any environmental indemnity agreements relating to the Mortgaged Properties; (xi) a security interest in all insurance
policies with respect to the Mortgage Loans and the Mortgaged Properties; (xii) the rights and remedies under the Mortgage Loan
Purchase Agreements relating to document delivery requirements with respect to the Mortgage Loans and the representations and warranties
of the related Mortgage Loan Seller regarding its Mortgage Loans; (xiii) the Lower-Tier Regular Interests and (xiv) the proceeds
of the foregoing (other than any interest earned on deposits in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts
and any Reserve Accounts, to the extent such interest belongs to the related Borrower). As provided in the Pooling and Servicing
Agreement, withdrawals may be made from certain of the above accounts for purposes other than distributions to Certificateholders.


 


This Certificate does not purport
to summarize the Pooling and Servicing Agreement, and reference is made to the Pooling and Servicing Agreement for the interests,
rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and immunities of
the Certificate Administrator.


 


As provided in the Pooling and
Servicing Agreement and subject to certain limitations set forth therein, this Certificate is transferable or exchangeable only
upon surrender of this Certificate to the Certificate Registrar at its offices together with an assignment and transfer (executed
by the Holder or his duly authorized attorney), subject to the requirements in Article V of the Pooling and Servicing Agreement.
Upon surrender for registration of transfer of this Certificate, subject to the requirements Article V of the Pooling and Servicing
Agreement, the Certificate Administrator shall execute and the Authenticating Agent shall duly authenticate in the name of the
designated transferee or transferees, one or more new Certificates in authorized denominations of a like aggregate denomination
as the Certificate being surrendered. Such Certificates shall be delivered by the Certificate Registrar in accordance with Article
V of the Pooling and Servicing Agreement.


 


Prior to due presentation of
this Certificate for registration of transfer, the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor,
the Asset Representations Reviewer, the Certificate Administrator, the Trustee, the Certificate Registrar, any Paying Agent and
any agent of any of them may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes,
and none of the Depositor, the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Certificate
Registrar, any Paying Agent or any agent of any of them shall be affected by notice or knowledge to the contrary.


 


No fee or service charge shall
be imposed by the Certificate Registrar for its services in respect of any registration of transfer or exchange referred to in
Section 5.02 of the Pooling and Servicing Agreement other than for transfers to Institutional Accredited Investors as provided
in Section 5.02(h) of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional Accredited Investor,
the transferor shall reimburse the Trust Fund for any costs (including the cost of the Certificate Registrar’s counsel’s
review of the documents and


 



    	 	 A-6-5	 



    	 



    

 


any legal opinions, submitted by the transferor or transferee to the Certificate Registrar as provided
in the Pooling and Servicing Agreement) incurred by the Certificate Registrar in connection with such transfer. The Certificate
Registrar may require payment by each transferor of a sum sufficient to cover any tax, expense or other governmental charge payable
in connection with any such transfer.


 


The Pooling and Servicing Agreement
or any Custodial Agreement may be amended at any time by the Depositor, the Master Servicer, the Special Servicer, the Certificate
Administrator, the Operating Advisor, the Asset Representations Reviewer and the Trustee without the consent of any of the Certificateholders
or any Serviced Companion Loan Noteholders, (i) to cure any ambiguity or to correct any manifest error; (ii) to cause the provisions
of the Pooling and Servicing Agreement or any Custodial Agreement to conform or be consistent with or in furtherance of the statements
made in the Prospectus or Private Placement Memorandum with respect to the Certificates, the Trust or the Pooling and Servicing
Agreement or to correct or supplement any provisions of the Pooling and Servicing Agreement or any Custodial Agreement which may
be defective or inconsistent with any other provisions of the Pooling and Servicing Agreement or any Custodial Agreement; (iii)
to change the timing and/or nature of deposits in the Collection Account, the Distribution Accounts or any REO Account; provided
that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment; (iv) to modify, eliminate or add to any of its provisions to such extent
as shall be necessary to maintain the qualification of any Trust REMIC as a REMIC under the relevant provisions of the Code at
all times that any Certificate is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust Fund or any
Trust REMIC that would be a claim against the Trust Fund or any Trust REMIC; provided that the Trustee and the Certificate
Administrator have received an Opinion of Counsel (at the expense of the party requesting such amendment) to the effect that (a)
such action is necessary or desirable to maintain such qualification or to avoid or minimize the risk of the imposition of any
such tax and (b) such action will not adversely affect in any material respect the interests of any Certificateholder or Companion
Loan Noteholder; (v) to modify, eliminate or add to the provisions any provision hereof restricting transfer of the Class R Certificates;
provided the Depositor has determined that such change shall not, as evidenced by an Opinion of Counsel, cause the Trust
Fund, any Trust REMIC or any of the Certificateholders (other than the Transferor) to be subject to a federal tax caused by a Transfer
to a Person that is a Disqualified Organization or a Non-U.S. Tax Person; (vi) to revise or add any other provisions with respect
to matters or questions arising under this Agreement or any other change; provided that the required action shall not adversely
affect in any material respect the interests of any Certificateholder or any holder of a Serviced Pari Passu Companion Loan not
consenting thereto as evidenced in writing by an Opinion of Counsel, at the expense of the party requesting such amendment or as
evidenced by a Rating Agency Confirmation from each of the Rating Agencies with respect to such amendment or supplement and confirmation
of the applicable rating agencies that such action will not result in the downgrade, withdrawal or qualification of its then-current
ratings of any securities related to a Companion Loan, if any (provided that such rating agency confirmation may be considered
satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates); (vii)
to amend or


 



    	 	 A-6-6	 



    	 



    

 


supplement any provision hereof to the extent necessary to maintain the then-current ratings assigned to each Class
of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of the Rating Agencies and confirmation
of the applicable rating agencies that such action will not result in the downgrade, withdrawal or qualification of its then-current
ratings of any securities related to a Companion Loan, if any (provided that such rating agency confirmation may be considered
satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates); provided
that such amendment or supplement shall not adversely affect in any material respect the interests of any Certificateholder not
consenting thereto as evidenced by an Opinion of Counsel; (viii) to modify the provisions of Section 3.06 and Section
3.17 of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable Advances and Workout-Delayed Reimbursement
Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as a Control Termination Event has not occurred
and is not continuing, the Directing Certificateholder, determine that the commercial mortgage backed securities industry standard
for such provisions has changed, in order to conform to such industry standard, (b) such modification does not adversely affect
the status of any Trust REMIC as a REMIC under the relevant provisions of the Code, as evidenced by an Opinion of Counsel and (c)
each Rating Agency has delivered a Rating Agency Confirmation and, with regard to any class of Serviced Companion Loan Securities,
the applicable rating agencies have delivered a confirmation that such action will not result in the downgrade, withdrawal or qualification
of its then-current ratings (provided that such rating agency confirmation may be considered satisfied in the same manner
as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates); (ix) to modify the procedures
of this Agreement relating to compliance with Rule 17g-5 of the Exchange Act; provided that such amendment shall not adversely
affect in any material respects the interests of any Certificateholders, as evidenced by (x) an Opinion of Counsel or (y) if any
Certificate is then rated, receipt of Rating Agency Confirmation from each Rating Agency rating such Certificates; and provided,
further, that the Certificate Administrator shall give notice of any such amendment to the 17g-5 Information Provider for
posting to the 17g-5 Information Provider’s Website and the Certificate Administrator shall post such notice to the Certificate
Administrator’s Website; and (x) to modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to
such extent as would be necessary to comply with the requirements for use of Form SF-3 in registered offerings to the extent provided
in CFR 239.45(b)(1)(ii), (iii) or (iv).


 


The Pooling and Servicing Agreement
or any Custodial Agreement may also be amended from time to time by the Depositor, the Master Servicer, the Special Servicer, the
Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer and the Trustee with the prior written consent
of the Holders of Certificates representing not less than a majority of the Percentage Interests of each Class of Certificates
affected thereby (without regard to Certificates held by the Depositor, any of the Depositor’s Affiliates and/or agents)
and each Serviced Companion Loan Noteholder affected thereby for the purpose of adding any provisions to or changing in any manner
or eliminating any of the provisions of the Pooling and Servicing Agreement or modifying in any manner the rights of the Certificateholders
or the Serviced Companion Loan Noteholders; provided, that no such amendment may:


 


		(i)	reduce in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans
or Subordinate Companion Loan which are required to be distributed on any Certificate, without the consent of the 



 






    	 	 A-6-7	 



    	 



    

 


	 	 	Holders of Certificates
representing all of the Percentage Interests of the Class or Classes affected thereby or which are required to be distributed to
any Companion Loan Noteholders without the consent of such Companion Loan Noteholders;



 


		(ii)	reduce the aforesaid percentage of Certificates of any Class the Holders of which are required
to consent to any such amendment or remove the requirement to obtain consent of any Companion Loan Noteholder, in any such case
without the consent of the Holders of all Certificates of such Class then-outstanding or such Companion Loan Noteholder, as applicable;



 


		(iii)	adversely affect the Voting Rights of any Class of Certificates without the consent of the Holders
of all Certificates of such Class then outstanding;



 


		(iv)	change in any manner any defined term used in any Mortgage Loan Purchase Agreement or the obligations
of any Mortgage Loan Seller under such Mortgage Loan Purchase Agreement or otherwise or change any rights of any Mortgage Loan
Seller as a third party beneficiary hereunder, without the consent of such Mortgage Loan Seller; or



 


		(v)	amend the Servicing Standard without the consent of 100% of the Certificateholders or receipt of
Rating Agency Confirmation from each Rating Agency and confirmation of the applicable rating agencies that such action will not
result in the downgrade, withdrawal or qualification of its then-current ratings of any securities related to a Companion Loan,
if any (provided that such rating agency confirmation may be considered satisfied in the same manner as any Rating Agency
Confirmation may be considered satisfied with respect to the Certificates).



 


Further, the Depositor, the Master
Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer and the
Trustee, at any time and from time to time, without the consent of the Certificateholders or, if applicable, the Serviced Companion
Loan Noteholders, may amend the Pooling and Servicing Agreement to modify, eliminate or add to any of its provisions (i) to such
extent as shall be necessary to maintain the qualification of the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC, or to prevent
the imposition of any additional material state or local taxes, at all times that any Certificates are outstanding; provided
that such action, as evidenced by an Opinion of Counsel (obtained at the expense of the Trust Fund), is necessary or helpful
to maintain such qualification or to prevent the imposition of any such taxes, and would not adversely affect in any material respect
the interest of any Certificateholder or if applicable, any Serviced Companion Loan Noteholder or (ii) to the extent necessary
to comply with the Investment Company Act of 1940, as amended, the Exchange Act, Regulation AB, and/or any related regulatory actions
and/or interpretations.


 


The Certificateholder owning
a majority of the Percentage Interest in the Controlling Class and, if no such Certificateholder exercises such option, the Special
Servicer,


 



    	 	 A-6-8	 



    	 



    

 


and if the Special Servicer does not exercise such option, the Master Servicer may effect an early termination of the
Trust Fund, upon not less than 30 days’ prior Notice of Termination given to the Trustee, the Special Servicer and the Master
Servicer any time specifying the Anticipated Termination Date, which shall be on or after the Early Termination Notice Date (defined
as any date as of which the aggregate Stated Principal Balance of the Mortgage Loans remaining in the Trust is less than 1.0% of
the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date) by purchasing on such date all, but not less
than all, of the Mortgage Loans then included in the Trust Fund, and the Trust’s interest in all property acquired in respect
of any Mortgage Loan, at a purchase price, payable in cash, equal to the sum of, without duplication:


 


		(A)	100% of the Stated Principal Balance of each Mortgage Loan included in the Trust as of the last
day of the month preceding such Anticipated Termination Date (less any P&I Advances previously made on account of principal);



 


		(B)	the fair market value of all other property included in the Trust Fund as of the last day of the
month preceding such Anticipated Termination Date, as determined by an Independent appraiser acceptable to the Master Servicer
as of a date not more than 30 days prior to the last day of the month preceding such Distribution Date;



 


		(C)	all unpaid interest accrued on the unpaid balance of each Mortgage Loan (including any Mortgage
Loan as to which title to the related Mortgaged Property has been acquired) at the Mortgage Rate to the last day of the month preceding
such Anticipated Termination Date (less any P&I Advances previously made on account of interest); and



 


		(D)	the aggregate amount of unreimbursed
                                         Advances, with interest thereon at the Reimbursement Rate, and unpaid Servicing Compensation,
                                         Special Servicing Compensation, Operating Advisor Fees, Certificate Administrator/Trustee
                                         Fees, the CREFC® Intellectual Property Royalty License Fees and Trust
                                         Fund expenses.



 


In addition, the Pooling and
Servicing Agreement provides that following the date on which the Class X-A Notional Amount, the Class X-B Notional Amount, the
Class X-C Notional Amount and the aggregate Certificate Balance of the Class A-1, Class A-2, Class A-SB, Class A-3A, Class A-3B,
Class A-4, Class A-M, Class B, Class C and Class D Certificates is reduced to zero, the Sole Certificateholder shall have the right
to exchange all of the then-outstanding Certificates (other than (i) the Class X-D, Class X-E Certificates and Class X-F Certificates
if the Sole Certificateholder has only taken an assignment of the Voting Rights of the Class X-D, Class X-E Certificates and Class
X-F Certificates pursuant to the definition of “Sole Certificateholder” and (ii) the Class R Certificates) for all
of the Mortgage Loans and each REO Property remaining in the Trust Fund as contemplated by clause (ii) of Section 9.01(a) of the


 



    	 	 A-6-9	 



    	 



    

 


Pooling and Servicing Agreement by giving written notice to all the parties to the Pooling and Servicing Agreement no later than
60 days prior to the anticipated date of exchange.


 


All costs and expenses incurred
by any and all parties to the Pooling and Servicing Agreement or by the Trust Fund in connection with the purchase of the Mortgage
Loans and the other assets of the Trust Fund pursuant to Section 9.01(c) of the Pooling and Servicing Agreement shall be borne
by the party exercising its purchase rights thereunder. The Trustee and the Certificate Administrator shall be entitled to rely
conclusively on any determination made by an Independent appraiser pursuant to Section 9.01(c) of the Pooling and Servicing Agreement.


 


The respective obligations and
responsibilities of the Master Servicer, the Special Servicer, the Depositor, the Certificate Administrator, the Operating Advisor,
the Asset Representations Reviewer and the Trustee created by the Pooling and Servicing Agreement with respect to the Certificates
(other than the obligations of the Certificate Administrator to make certain payments and to send certain notices to Certificateholders
as set forth in the Pooling and Servicing Agreement) shall terminate upon payment (or provision for payment) to the Certificateholders
and the Serviced Companion Loan Noteholders of all amounts held by or on behalf of the Trustee, the Certificate Administrator and
the Master Servicer, as the case may be, required under the Pooling and Servicing Agreement to be so paid on the Distribution Date
following the earlier to occur of (i) the purchase of the Mortgage Loans and all other property held by the Trust Fund in accordance
with Section 9.01(c) of the Pooling and Servicing Agreement; (ii) the exchange by the Sole Certificateholder of its Certificates
for the Mortgage Loans in accordance with Section 9.01(g) of the Pooling and Servicing Agreement; and (iii) the later of (a) the
receipt or collection of the last payment due on any Mortgage Loan included in the Trust Fund, or (b) the liquidation and disposition
pursuant to the Pooling and Servicing Agreement of the last asset held by the Trust Fund; provided that in no event shall
the trust created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years from the death of the last
survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the United Kingdom, living on the
date hereof.


 


Unless the Certificate of Authentication
on this Certificate has been executed by the Authenticating Agent, by manual signature, this Certificate shall not be entitled
to any benefit under the Pooling and Servicing Agreement or be valid for any purpose.


 






    	 	 A-6-10	 



    	 



    

 


IN WITNESS WHEREOF, the Certificate
Administrator has caused this Class A-4 Certificate to be duly executed.


 


Dated: April __, 2016





 


	 	WELLS FARGO BANK,
NATIONAL ASSOCIATION, not in its individual capacity but solely as Certificate Administrator
	 	 
	 	By:	 
	 	 	Authorized Signatory



   


Certificate of Authentication


 


This is one of the Class A-4
Certificates referred to in the Pooling and Servicing Agreement.


 


Dated: April __, 2016


 





	 	WELLS FARGO BANK,
NATIONAL ASSOCIATION, not in its individual capacity but solely as Authenticating Agent
	 	 
	 	By:	 
	 	 	Authorized Signatory


 




    	 	 A-6-11	 



    	 



    



EXHIBIT A-7


 


FORM OF CLASS A-M CERTIFICATE


 


[UNLESS THIS CERTIFICATE IS PRESENTED BY AN
AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE
REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &
CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]1


 


THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION
OF OR INTEREST IN THE DEPOSITOR, THE ORIGINATOR, THE MASTER SERVICER, THE SPECIAL SERVICER, THE CERTIFICATE ADMINISTRATOR, THE
CERTIFICATE REGISTRAR, THE OPERATING ADVISOR, THE ASSET REPRESENTATIONS REVIEWER, THE TRUSTEE OR ANY OF THEIR RESPECTIVE AFFILIATES.
NEITHER THE CERTIFICATES NOR THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY.


 


PRINCIPAL PAYMENTS ON THIS CERTIFICATE ARE PAYABLE
IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.


 


THIS CERTIFICATE IS SUBORDINATE TO ONE OR MORE
OTHER CLASSES OF CERTIFICATES AS AND TO THE EXTENT SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.


 


FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE
REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE TERMS ARE DEFINED,
RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED.


 





 



 


1
Legend required as long as DTC is the Depository under the Pooling and Servicing Agreement.


 



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DBJPM 2016-C1 MORTGAGE TRUST COMMERCIAL MORTGAGE

PASS-THROUGH CERTIFICATES, CLASS A-M


 


	Class A-M Pass-Through Rate: 3.539%	 	
        CUSIP:     23312LAT5

         

        ISIN:        US23312LAT52 

	 	 	 
	Original Aggregate Certificate Balance of the

Class A-M Certificates: $64,420,000	 	Initial Certificate Balance of this Certificate: $64,420,000
	 	 	 
	First Distribution Date: May 12, 2016	 	Cut-off Date: The close of business on the later of the related due date for each Mortgage Loan in April 2016 and the date of origination of such Mortgage Loan
	 	 	 
	Assumed Final Distribution Date: February 2026	 	No.: A-M-[_]


 


This certifies that [__________] is the
registered owner of a beneficial ownership interest in a Trust Fund, including the distributions to be made with respect to the
Class A-M Certificates. The Trust Fund, described more fully below, consists primarily of a pool of Mortgage Loans secured by
first liens on commercial, multifamily and manufactured housing community properties and held in trust by the Trustee and serviced
by the Master Servicer. The Trust Fund was created, and the Mortgage Loans are to be serviced, pursuant to the Pooling and Servicing
Agreement (as defined below). The Holder of this Certificate, by virtue of the acceptance hereof, assents to the terms, provisions
and conditions of the Pooling and Servicing Agreement and is bound thereby.


 


The Pooling and Servicing Agreement,
dated as of April 1, 2016 (the “Pooling and Servicing Agreement”), between the Depositor, Wells Fargo Bank,
National Association, as master servicer (in such capacity, the “Master Servicer”), Midland Loan Services, a
Division of PNC Bank, National Association, as special servicer (the “Special Servicer”), Wilmington Trust,
National Association, as trustee (the “Trustee”), Wells Fargo Bank, National Association, as certificate administrator
(in such capacity, the “Certificate Administrator”), paying agent and custodian, Park Bridge Lender Services
LLC, as operating advisor (in such capacity, the “Operating Advisor”),
and Park Bridge Lender Services LLC, as asset representations reviewer (in such
capacity, the “Asset Representations Reviewer”) evidences the issuance of the Class A-1, Class A-2, Class A-SB,
Class A-3A, Class A-4, Class X-A, Class A-M, Class B, Class C, Class A-3B, Class X-B, Class X-C, Class X-D, Class X-E, Class X-F,
Class D, Class E, Class F, Class G, Class H and Class R Certificates (the “Certificates”; the Holders of Certificates
issued under the Pooling and Servicing Agreement are collectively referred to herein as “Certificateholders”).
This Certificate is issued pursuant to, and in accordance with, the terms of the Pooling and Servicing Agreement. To the extent
not defined herein, capitalized terms used herein shall have the meanings assigned thereto in the Pooling and Servicing Agreement.


 


This Certificate represents a
“regular interest” in a “real estate mortgage investment conduit”, as those terms are defined, respectively,
in Sections 860G(a)(1) and 860D


 



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of the Internal
Revenue Code of 1986, as amended. Each Holder of this Certificate, by acceptance hereof, agrees to treat, and take no action inconsistent
with the treatment of, this Certificate in accordance with the preceding sentence for purposes of federal income taxes, state
and local income and franchise taxes and other taxes imposed on or measured by income.


 


The Certificate Administrator
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Mortgage Loans and has executed this Certificate in its limited capacity as Certificate Administrator under the Pooling
and Servicing Agreement. In the event that there is any conflict between any provision of this Certificate and any provision of
the Pooling and Servicing Agreement, such provision of this Certificate shall be superseded to the extent of such inconsistency.


 


Pursuant to the terms of the
Pooling and Servicing Agreement, the Certificate Administrator, or the Paying Agent on behalf of the Certificate Administrator,
will distribute (other than the final distribution on any Certificate), on the fourth Business Day after each Determination Date
(each such date, a “Distribution Date”) an amount equal to such Person’s pro rata share (based on the
Percentage Interest represented by this Certificate) of that portion of the aggregate amount of principal and interest then distributable,
if any, allocable to the Class A-M Certificates for such Distribution Date, all as more fully described in the Pooling and Servicing
Agreement. “Determination Date” is defined in the Pooling and Servicing Agreement as the sixth day of each month, or
if such sixth day is not a Business Day, then the next Business Day, commencing in May 2016. Holders of this Certificate may be
entitled to Prepayment Premiums and Yield Maintenance Charges as provided in the Pooling and Servicing Agreement.


 


During each Interest Accrual
Period (as defined below), interest on the Class A-M Certificates will be calculated based on a 360-day year consisting of twelve
30-day months on the outstanding Certificate Balance hereof.


 


Interest accrued on this Certificate
during an Interest Accrual Period, plus the aggregate unpaid Interest Shortfall with respect to this Certificate, if any, will
be payable on the related Distribution Date to the extent provided in the Pooling and Servicing Agreement. The “Interest
Accrual Period” means, with respect to any Distribution Date, the calendar month immediately preceding the month in which
such Distribution Date occurs. Each Interest Accrual Period is assumed to consist of 30 days.


 


All distributions (other than
the final distribution on any Certificate) will be made by the Paying Agent to the Persons in whose names the Certificates are
registered at the close of business on each Record Date, which will be the close of business on the last Business Day of the calendar
month preceding the month in which such Distribution Date occurs. Such distributions shall be made on each Distribution Date other
than the Termination Date to each Certificateholder of record on the related Record Date, (i) by wire transfer of immediately available
funds to the account of such Holder at a bank or other entity located in the United States and having appropriate facilities therefor
if such Holder shall have provided the Paying Agent with wire instructions in writing at least five Business Days prior to the
related Record Date (which wiring instructions may be in the form of a standing order applicable to all subsequent distributions),
or (ii) otherwise, by check mailed by first-class mail to the address set forth therefor in the Certificate Register. The final
distribution on each Certificate shall be made


 



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in like manner,
but only upon presentment and surrender of such Certificate at the office of the Certificate Administrator or its agent (which
may be the Paying Agent or the Certificate Registrar acting as such agent) that is specified in the notice to Holders of such
final distribution.


 


Any funds not distributed on
the Termination Date because of the failure of any Certificateholders to tender their Certificates shall, on such date, be set
aside and held for the benefit of the appropriate non-tendering Certificateholders. If any Certificates as to which notice of the
Termination Date has been given pursuant to the Pooling and Servicing Agreement shall not have been surrendered for cancellation
within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders to surrender their Certificates for cancellation to receive the final distribution with respect
thereto. If within one year after the second notice not all of such Certificates shall have been surrendered for cancellation,
the Certificate Administrator may, directly or through an agent, take appropriate steps to contact the remaining non-tendering
Certificateholders concerning surrender of their Certificates. The costs and expenses of holding such funds in trust and of contacting
such Certificateholders shall be paid out of such funds. Subject to applicable state escheatment laws, if within two years after
the second notice any such Certificates shall not have been surrendered for cancellation, the Paying Agent shall distribute to
the Certificate Administrator all amounts distributable to the Holders thereof, and the Certificate Administrator shall thereafter
hold such amounts for the benefit of such Holders until the earlier of (i) its termination as Certificate Administrator under the
Pooling and Servicing Agreement and the transfer of such amounts to a successor Certificate Administrator and (ii) the termination
of the Trust Fund and distribution of such amounts to the Class R Certificateholders. No interest shall accrue or be payable to
any Certificateholder on any amount held under the Pooling and Servicing Agreement or by the Certificate Administrator as a result
of such Certificateholder’s failure to surrender its Certificate(s) for final payment thereof in accordance with the Pooling
and Servicing Agreement. Any such amounts transferred to the Certificate Administrator may be invested in Permitted Investments
and all income and gain realized from investment of such funds shall accrue for its benefit.


 


This Certificate is limited in
right of payment to, among other things, certain collections and recoveries in respect of the Mortgage Loans, as more specifically
set forth herein and in the Pooling and Servicing Agreement.


 


As provided in the Pooling and
Servicing Agreement, the Trust Fund includes (in each case, to the extent of the Trust Fund’s interest therein and specifically
excluding any interest of any Serviced Companion Loan Noteholder therein): (i) such Mortgage Loans as from time to time are subject
to the Pooling and Servicing Agreement, together with the Mortgage Files relating thereto; (ii) all scheduled or unscheduled payments
on or collections in respect of the Mortgage Loans due after the Cut-off Date; (iii) the Trust Fund’s interest in any REO
Property; (iv) all revenues received in respect of any REO Property; (v) any Assignments of Leases, Rents and Profits and any security
agreements related to the Mortgage Loans; (vi) any indemnities or guaranties given as additional security for any Mortgage Loans;
(vii) a security interest in all assets deposited in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts, and Reserve
Accounts; (viii) the Loss of Value Reserve Fund; (ix) the Collection Account, the Serviced Whole Loan Collection Accounts, the
Distribution Accounts, any Gain-on-Sale Reserve Account, the Interest Reserve Account, and the Trust’s interest in any REO


 



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Account, including
any amounts on deposit therein, assets credited thereto and any reinvestment income, as applicable; (x) a security interest in
any environmental indemnity agreements relating to the Mortgaged Properties; (xi) a security interest in all insurance policies
with respect to the Mortgage Loans and the Mortgaged Properties; (xii) the rights and remedies under the Mortgage Loan Purchase
Agreements relating to document delivery requirements with respect to the Mortgage Loans and the representations and warranties
of the related Mortgage Loan Seller regarding its Mortgage Loans; (xiii) the Lower-Tier Regular Interests and (xiv) the proceeds
of the foregoing (other than any interest earned on deposits in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts
and any Reserve Accounts, to the extent such interest belongs to the related Borrower). As provided in the Pooling and Servicing
Agreement, withdrawals may be made from certain of the above accounts for purposes other than distributions to Certificateholders.


 


This Certificate does not purport
to summarize the Pooling and Servicing Agreement, and reference is made to the Pooling and Servicing Agreement for the interests,
rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and immunities of
the Certificate Administrator.


 


As provided in the Pooling and
Servicing Agreement and subject to certain limitations set forth therein, this Certificate is transferable or exchangeable only
upon surrender of this Certificate to the Certificate Registrar at its offices together with an assignment and transfer (executed
by the Holder or his duly authorized attorney), subject to the requirements in Article V of the Pooling and Servicing Agreement.
Upon surrender for registration of transfer of this Certificate, subject to the requirements Article V of the Pooling and Servicing
Agreement, the Certificate Administrator shall execute and the Authenticating Agent shall duly authenticate in the name of the
designated transferee or transferees, one or more new Certificates in authorized denominations of a like aggregate denomination
as the Certificate being surrendered. Such Certificates shall be delivered by the Certificate Registrar in accordance with Article
V of the Pooling and Servicing Agreement.


 


Prior to due presentation of
this Certificate for registration of transfer, the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor,
the Asset Representations Reviewer, the Certificate Administrator, the Trustee, the Certificate Registrar, any Paying Agent and
any agent of any of them may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes,
and none of the Depositor, the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Certificate
Registrar, any Paying Agent or any agent of any of them shall be affected by notice or knowledge to the contrary.


 


No fee or service charge shall
be imposed by the Certificate Registrar for its services in respect of any registration of transfer or exchange referred to in
Section 5.02 of the Pooling and Servicing Agreement other than for transfers to Institutional Accredited Investors as provided
in Section 5.02(h) of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional Accredited Investor,
the transferor shall reimburse the Trust Fund for any costs (including the cost of the Certificate Registrar’s counsel’s
review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar as provided
in the Pooling and Servicing Agreement) incurred by the Certificate Registrar in


 



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connection with
such transfer. The Certificate Registrar may require payment by each transferor of a sum sufficient to cover any tax, expense
or other governmental charge payable in connection with any such transfer.


 


The Pooling and Servicing Agreement
or any Custodial Agreement may be amended at any time by the Depositor, the Master Servicer, the Special Servicer, the Certificate
Administrator, the Operating Advisor, the Asset Representations Reviewer and the Trustee without the consent of any of the Certificateholders
or any Serviced Companion Loan Noteholders, (i) to cure any ambiguity or to correct any manifest error; (ii) to cause the provisions
of the Pooling and Servicing Agreement or any Custodial Agreement to conform or be consistent with or in furtherance of the statements
made in the Prospectus or Private Placement Memorandum with respect to the Certificates, the Trust or the Pooling and Servicing
Agreement or to correct or supplement any provisions of the Pooling and Servicing Agreement or any Custodial Agreement which may
be defective or inconsistent with any other provisions of the Pooling and Servicing Agreement or any Custodial Agreement; (iii)
to change the timing and/or nature of deposits in the Collection Account, the Distribution Accounts or any REO Account; provided
that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment; (iv) to modify, eliminate or add to any of its provisions to such extent
as shall be necessary to maintain the qualification of any Trust REMIC as a REMIC under the relevant provisions of the Code at
all times that any Certificate is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust Fund or any
Trust REMIC that would be a claim against the Trust Fund or any Trust REMIC; provided that the Trustee and the Certificate
Administrator have received an Opinion of Counsel (at the expense of the party requesting such amendment) to the effect that (a)
such action is necessary or desirable to maintain such qualification or to avoid or minimize the risk of the imposition of any
such tax and (b) such action will not adversely affect in any material respect the interests of any Certificateholder or Companion
Loan Noteholder; (v) to modify, eliminate or add to the provisions any provision hereof restricting transfer of the Class R Certificates;
provided the Depositor has determined that such change shall not, as evidenced by an Opinion of Counsel, cause the Trust
Fund, any Trust REMIC or any of the Certificateholders (other than the Transferor) to be subject to a federal tax caused by a Transfer
to a Person that is a Disqualified Organization or a Non-U.S. Tax Person; (vi) to revise or add any other provisions with respect
to matters or questions arising under this Agreement or any other change; provided that the required action shall not adversely
affect in any material respect the interests of any Certificateholder or any holder of a Serviced Pari Passu Companion Loan not
consenting thereto as evidenced in writing by an Opinion of Counsel, at the expense of the party requesting such amendment or as
evidenced by a Rating Agency Confirmation from each of the Rating Agencies with respect to such amendment or supplement and confirmation
of the applicable rating agencies that such action will not result in the downgrade, withdrawal or qualification of its then-current
ratings of any securities related to a Companion Loan, if any (provided that such rating agency confirmation may be considered
satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates); (vii)
to amend or supplement any provision hereof to the extent necessary to maintain the then-current ratings assigned to each Class
of Certificates by each Rating Agency, as evidenced by a Rating Agency


 



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Confirmation
from each of the Rating Agencies and confirmation of the applicable rating agencies that such action will not result in the downgrade,
withdrawal or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided
that such rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates); provided that such amendment or supplement shall not adversely affect in any
material respect the interests of any Certificateholder not consenting thereto as evidenced by an Opinion of Counsel; (viii) to
modify the provisions of Section 3.06 and Section 3.17 of the Pooling and Servicing Agreement (with respect to reimbursement
of Nonrecoverable Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and,
for so long as a Control Termination Event has not occurred and is not continuing, the Directing Certificateholder, determine
that the commercial mortgage backed securities industry standard for such provisions has changed, in order to conform to such
industry standard, (b) such modification does not adversely affect the status of any Trust REMIC as a REMIC under the relevant
provisions of the Code, as evidenced by an Opinion of Counsel and (c) each Rating Agency has delivered a Rating Agency Confirmation
and, with regard to any class of Serviced Companion Loan Securities, the applicable rating agencies have delivered a confirmation
that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings (provided that
such rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates); (ix) to modify the procedures of this Agreement relating to compliance with Rule
17g-5 of the Exchange Act; provided that such amendment shall not adversely affect in any material respects the interests
of any Certificateholders, as evidenced by (x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating
Agency Confirmation from each Rating Agency rating such Certificates; and provided, further, that the Certificate
Administrator shall give notice of any such amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s
Website and the Certificate Administrator shall post such notice to the Certificate Administrator’s Website; and (x) to
modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as would be necessary to comply
with the requirements for use of Form SF-3 in registered offerings to the extent provided in CFR 239.45(b)(1)(ii), (iii) or (iv).


 


The Pooling and Servicing Agreement
or any Custodial Agreement may also be amended from time to time by the Depositor, the Master Servicer, the Special Servicer, the
Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer and the Trustee with the prior written consent
of the Holders of Certificates representing not less than a majority of the Percentage Interests of each Class of Certificates
affected thereby (without regard to Certificates held by the Depositor, any of the Depositor’s Affiliates and/or agents)
and each Serviced Companion Loan Noteholder affected thereby for the purpose of adding any provisions to or changing in any manner
or eliminating any of the provisions of the Pooling and Servicing Agreement or modifying in any manner the rights of the Certificateholders
or the Serviced Companion Loan Noteholders; provided, that no such amendment may:


 


		(i)	reduce in any manner the amount of, or delay the timing
of, payments received on the Mortgage Loans or Subordinate Companion Loan which are required to be distributed on any Certificate,
without the consent of the Holders of Certificates representing all of the Percentage Interests of the Class or Classes affected
thereby or which are required to be distributed to



 



    	A-7-7



    	 



    

 


any
Companion Loan Noteholders without the consent of such Companion Loan Noteholders;


 


		(ii)	reduce the aforesaid percentage of Certificates of any
Class the Holders of which are required to consent to any such amendment or remove the requirement to obtain consent of any Companion
Loan Noteholder, in any such case without the consent of the Holders of all Certificates of such Class then-outstanding or such
Companion Loan Noteholder, as applicable;



 


		(iii)	adversely affect the Voting Rights of any Class of Certificates
without the consent of the Holders of all Certificates of such Class then outstanding;



 


		(iv)	change in any manner any defined term used in any Mortgage
Loan Purchase Agreement or the obligations of any Mortgage Loan Seller under such Mortgage Loan Purchase Agreement or otherwise
or change any rights of any Mortgage Loan Seller as a third party beneficiary hereunder, without the consent of such Mortgage
Loan Seller; or



 


		(v)	amend the Servicing Standard without the consent of 100%
of the Certificateholders or receipt of Rating Agency Confirmation from each Rating Agency and confirmation of the applicable
rating agencies that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of
any securities related to a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied
in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates).



 


Further, the Depositor, the Master
Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer and the
Trustee, at any time and from time to time, without the consent of the Certificateholders or, if applicable, the Serviced Companion
Loan Noteholders, may amend the Pooling and Servicing Agreement to modify, eliminate or add to any of its provisions (i) to such
extent as shall be necessary to maintain the qualification of the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC, or to prevent
the imposition of any additional material state or local taxes, at all times that any Certificates are outstanding; provided
that such action, as evidenced by an Opinion of Counsel (obtained at the expense of the Trust Fund), is necessary or helpful
to maintain such qualification or to prevent the imposition of any such taxes, and would not adversely affect in any material respect
the interest of any Certificateholder or if applicable, any Serviced Companion Loan Noteholder or (ii) to the extent necessary
to comply with the Investment Company Act of 1940, as amended, the Exchange Act, Regulation AB, and/or any related regulatory actions
and/or interpretations.


 


The Certificateholder owning
a majority of the Percentage Interest in the Controlling Class and, if no such Certificateholder exercises such option, the Special
Servicer, and if the Special Servicer does not exercise such option, the Master Servicer may effect an early termination of the
Trust Fund, upon not less than 30 days’ prior Notice of Termination given to


 



    	A-7-8



    	 



    

 


the Trustee,
the Special Servicer and the Master Servicer any time specifying the Anticipated Termination Date, which shall be on or after
the Early Termination Notice Date (defined as any date as of which the aggregate Stated Principal Balance of the Mortgage Loans
remaining in the Trust is less than 1.0% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date)
by purchasing on such date all, but not less than all, of the Mortgage Loans then included in the Trust Fund, and the Trust’s
interest in all property acquired in respect of any Mortgage Loan, at a purchase price, payable in cash, equal to the sum of,
without duplication:


 


		(A)	100% of the Stated Principal Balance of each Mortgage Loan included in the Trust as of the last
day of the month preceding such Anticipated Termination Date (less any P&I Advances previously made on account of principal);



 


		(B)	the fair market value of all other property included in the Trust Fund as of the last day of the
month preceding such Anticipated Termination Date, as determined by an Independent appraiser acceptable to the Master Servicer
as of a date not more than 30 days prior to the last day of the month preceding such Distribution Date;



 


		(C)	all unpaid interest accrued on the unpaid balance of each Mortgage Loan (including any Mortgage
Loan as to which title to the related Mortgaged Property has been acquired) at the Mortgage Rate to the last day of the month preceding
such Anticipated Termination Date (less any P&I Advances previously made on account of interest); and



 


		(D)	the aggregate amount of unreimbursed
                                         Advances, with interest thereon at the Reimbursement Rate, and unpaid Servicing Compensation,
                                         Special Servicing Compensation, Operating Advisor Fees, Certificate Administrator/Trustee
                                         Fees, the CREFC® Intellectual Property Royalty License Fees and Trust
                                         Fund expenses.



 


In addition, the Pooling and
Servicing Agreement provides that following the date on which the Class X-A Notional Amount, the Class X-B Notional Amount, the
Class X-C Notional Amount and the aggregate Certificate Balance of the Class A-1, Class A-2, Class A-SB, Class A-3A, Class A-3B,
Class A-4, Class A-M, Class B, Class C and Class D Certificates is reduced to zero, the Sole Certificateholder shall have the right
to exchange all of the then-outstanding Certificates (other than (i) the Class X-D, Class X-E Certificates and Class X-F Certificates
if the Sole Certificateholder has only taken an assignment of the Voting Rights of the Class X-D, Class X-E Certificates and Class
X-F Certificates pursuant to the definition of “Sole Certificateholder” and (ii) the Class R Certificates) for all
of the Mortgage Loans and each REO Property remaining in the Trust Fund as contemplated by clause (ii) of Section 9.01(a) of the
Pooling and Servicing Agreement by giving written notice to all the parties to the Pooling and Servicing Agreement no later than
60 days prior to the anticipated date of exchange.


 



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All costs and expenses incurred
by any and all parties to the Pooling and Servicing Agreement or by the Trust Fund in connection with the purchase of the Mortgage
Loans and the other assets of the Trust Fund pursuant to Section 9.01(c) of the Pooling and Servicing Agreement shall be borne
by the party exercising its purchase rights thereunder. The Trustee and the Certificate Administrator shall be entitled to rely
conclusively on any determination made by an Independent appraiser pursuant to Section 9.01(c) of the Pooling and Servicing Agreement.


 


The respective obligations and
responsibilities of the Master Servicer, the Special Servicer, the Depositor, the Certificate Administrator, the Operating Advisor,
the Asset Representations Reviewer and the Trustee created by the Pooling and Servicing Agreement with respect to the Certificates
(other than the obligations of the Certificate Administrator to make certain payments and to send certain notices to Certificateholders
as set forth in the Pooling and Servicing Agreement) shall terminate upon payment (or provision for payment) to the Certificateholders
and the Serviced Companion Loan Noteholders of all amounts held by or on behalf of the Trustee, the Certificate Administrator
and the Master Servicer, as the case may be, required under the Pooling and Servicing Agreement to be so paid on the Distribution
Date following the earlier to occur of (i) the purchase of the Mortgage Loans and all other property held by the Trust Fund in
accordance with Section 9.01(c) of the Pooling and Servicing Agreement; (ii) the exchange by the Sole Certificateholder of its
Certificates for the Mortgage Loans in accordance with Section 9.01(g) of the Pooling and Servicing Agreement; and (iii) the later
of (a) the receipt or collection of the last payment due on any Mortgage Loan included in the Trust Fund, or (b) the liquidation
and disposition pursuant to the Pooling and Servicing Agreement of the last asset held by the Trust Fund; provided that
in no event shall the trust created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years from the
death of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the United Kingdom,
living on the date hereof.


 


Unless the Certificate of Authentication
on this Certificate has been executed by the Authenticating Agent, by manual signature, this Certificate shall not be entitled
to any benefit under the Pooling and Servicing Agreement or be valid for any purpose.


 



    	A-7-10



    	 



    

 





IN WITNESS WHEREOF, the Certificate
Administrator has caused this Class A-M Certificate to be duly executed.


 


Dated: April __, 2016





	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Certificate Administrator
	 	 	 
	 	By:	 
	 	 	Authorized Signatory




 


Certificate of Authentication


 


This is one of the Class A-M
Certificates referred to in the Pooling and Servicing Agreement.


 


Dated: April __, 2016





	 	 	 
	 	WELLS FARGO BANK,
NATIONAL ASSOCIATION, not in its individual capacity but solely as Authenticating Agent
	 	 	 
	 	By:	 
	 	 	Authorized Signatory


 



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EXHIBIT A-8


 


FORM OF CLASS B CERTIFICATE


 


[UNLESS THIS CERTIFICATE IS PRESENTED BY
AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE
CERTIFICATE REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE
TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE &
CO., HAS AN INTEREST HEREIN.]1


 


THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION
OF OR INTEREST IN THE DEPOSITOR, THE ORIGINATOR, THE MASTER SERVICER, THE SPECIAL SERVICER, THE CERTIFICATE ADMINISTRATOR, THE
CERTIFICATE REGISTRAR, THE OPERATING ADVISOR, THE ASSET REPRESENTATIONS REVIEWER, THE TRUSTEE OR ANY OF THEIR RESPECTIVE AFFILIATES.
NEITHER THE CERTIFICATES NOR THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY.


 


PRINCIPAL PAYMENTS ON THIS CERTIFICATE ARE PAYABLE
IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.


 


THIS CERTIFICATE IS SUBORDINATE TO ONE OR MORE
OTHER CLASSES OF CERTIFICATES AS AND TO THE EXTENT SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.


 


FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE
REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE TERMS ARE DEFINED,
RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED.


 





 






 


1
Legend required as long as DTC is the Depository under the Pooling and Servicing Agreement.





 






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DBJPM 2016-C1 MORTGAGE TRUST COMMERCIAL MORTGAGE

PASS-THROUGH CERTIFICATES, CLASS B


 


	Class B Pass-Through Rate: 4.195%	
        CUSIP: 23312LAU2

         

        ISIN:     US23312LAU26

	 	 
	Original Aggregate Certificate Balance of the Class B Certificates: $50,105,000	Initial Certificate Balance of this Certificate: $50,105,000
	 	 
	First Distribution Date: May 12, 2016	Cut-off Date: The close of business on the later of the related due date for each Mortgage Loan in April 2016 and the date of origination of such Mortgage Loan
	 	 
	Assumed Final Distribution Date: March 2026	No.: B-[_]


 


This certifies that [________] is the
registered owner of a beneficial ownership interest in a Trust Fund, including the distributions to be made with respect to the
Class B Certificates. The Trust Fund, described more fully below, consists primarily of a pool of Mortgage Loans secured
by first liens on commercial, multifamily and manufactured housing community properties and held in trust by the Trustee and serviced
by the Master Servicer. The Trust Fund was created, and the Mortgage Loans are to be serviced, pursuant to the Pooling and Servicing
Agreement (as defined below). The Holder of this Certificate, by virtue of the acceptance hereof, assents to the terms, provisions
and conditions of the Pooling and Servicing Agreement and is bound thereby.


 


The Pooling and Servicing Agreement,
dated as of April 1, 2016 (the “Pooling and Servicing Agreement”), between the Depositor, Wells Fargo Bank,
National Association, as master servicer (in such capacity, the “Master Servicer”), Midland Loan Services, a
Division of PNC Bank, National Association, as special servicer (the “Special Servicer”), Wilmington Trust,
National Association, as trustee (the “Trustee”), Wells Fargo Bank, National Association, as certificate administrator
(in such capacity, the “Certificate Administrator”), paying agent and custodian, Park Bridge Lender Services
LLC, as operating advisor (in such capacity, the “Operating Advisor”), and Park Bridge Lender Services
LLC, as asset representations reviewer (in such capacity, the “Asset Representations Reviewer”) evidences
the issuance of the Class A-1, Class A-2, Class A-SB, Class A-3A, Class A-4, Class X-A, Class A-M, Class B, Class C,
Class A-3B, Class X-B, Class X-C, Class X-D, Class X-E, Class X-F, Class D, Class E, Class F, Class G, Class
H and Class R Certificates (the “Certificates”; the Holders of Certificates issued under the Pooling and
Servicing Agreement are collectively referred to herein as “Certificateholders”). This Certificate is issued
pursuant to, and in accordance with, the terms of the Pooling and Servicing Agreement. To the extent not defined herein, capitalized
terms used herein shall have the meanings assigned thereto in the Pooling and Servicing Agreement.


 






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This Certificate represents a
“regular interest” in a “real estate mortgage investment conduit”, as those terms are defined, respectively,
in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this Certificate, by acceptance
hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in accordance with the preceding
sentence for purposes of federal income taxes, state and local income and franchise taxes and other taxes imposed on or measured
by income.


 


The Certificate Administrator
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Mortgage Loans and has executed this Certificate in its limited capacity as Certificate Administrator under the Pooling
and Servicing Agreement. In the event that there is any conflict between any provision of this Certificate and any provision of
the Pooling and Servicing Agreement, such provision of this Certificate shall be superseded to the extent of such inconsistency.


 


Pursuant to the terms of the
Pooling and Servicing Agreement, the Certificate Administrator, or the Paying Agent on behalf of the Certificate Administrator,
will distribute (other than the final distribution on any Certificate), on the fourth Business Day after each Determination Date
(each such date, a “Distribution Date”) an amount equal to such Person’s pro rata share (based on the
Percentage Interest represented by this Certificate) of that portion of the aggregate amount of principal and interest then distributable,
if any, allocable to the Class B Certificates for such Distribution Date, all as more fully described in the Pooling and Servicing
Agreement. “Determination Date” is defined in the Pooling and Servicing Agreement as the sixth day of each month, or
if such sixth day is not a Business Day, then the next Business Day, commencing in May 2016. Holders of this Certificate may be
entitled to Prepayment Premiums and Yield Maintenance Charges as provided in the Pooling and Servicing Agreement.


 


During each Interest Accrual
Period (as defined below), interest on the Class B Certificates will be calculated based on a 360-day year consisting of twelve
30-day months on the outstanding Certificate Balance hereof.


 


Interest accrued on this Certificate
during an Interest Accrual Period, plus the aggregate unpaid Interest Shortfall with respect to this Certificate, if any, will
be payable on the related Distribution Date to the extent provided in the Pooling and Servicing Agreement. The “Interest
Accrual Period” means, with respect to any Distribution Date, the calendar month immediately preceding the month in which
such Distribution Date occurs. Each Interest Accrual Period is assumed to consist of 30 days.


 


All distributions (other than
the final distribution on any Certificate) will be made by the Paying Agent to the Persons in whose names the Certificates are
registered at the close of business on each Record Date, which will be the close of business on the last Business Day of the calendar
month preceding the month in which such Distribution Date occurs. Such distributions shall be made on each Distribution Date other
than the Termination Date to each Certificateholder of record on the related Record Date, (i) by wire transfer of immediately available
funds to the account of such Holder at a bank or other entity located in the United States and having appropriate facilities therefor
if such Holder shall have provided the Paying Agent with wire instructions in writing at least five Business Days prior to the
related Record Date (which wiring instructions may be in the form of a standing order applicable to all


 



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subsequent distributions),
or (ii) otherwise, by check mailed by first-class mail to the address set forth therefor in the Certificate Register. The final
distribution on each Certificate shall be made in like manner, but only upon presentment and surrender of such Certificate at the
office of the Certificate Administrator or its agent (which may be the Paying Agent or the Certificate Registrar acting as such
agent) that is specified in the notice to Holders of such final distribution.


 


Any funds not distributed on
the Termination Date because of the failure of any Certificateholders to tender their Certificates shall, on such date, be set
aside and held for the benefit of the appropriate non-tendering Certificateholders. If any Certificates as to which notice of the
Termination Date has been given pursuant to the Pooling and Servicing Agreement shall not have been surrendered for cancellation
within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders to surrender their Certificates for cancellation to receive the final distribution with respect
thereto. If within one year after the second notice not all of such Certificates shall have been surrendered for cancellation,
the Certificate Administrator may, directly or through an agent, take appropriate steps to contact the remaining non-tendering
Certificateholders concerning surrender of their Certificates. The costs and expenses of holding such funds in trust and of contacting
such Certificateholders shall be paid out of such funds. Subject to applicable state escheatment laws, if within two years after
the second notice any such Certificates shall not have been surrendered for cancellation, the Paying Agent shall distribute to
the Certificate Administrator all amounts distributable to the Holders thereof, and the Certificate Administrator shall thereafter
hold such amounts for the benefit of such Holders until the earlier of (i) its termination as Certificate Administrator under the
Pooling and Servicing Agreement and the transfer of such amounts to a successor Certificate Administrator and (ii) the termination
of the Trust Fund and distribution of such amounts to the Class R Certificateholders. No interest shall accrue or be payable to
any Certificateholder on any amount held under the Pooling and Servicing Agreement or by the Certificate Administrator as a result
of such Certificateholder’s failure to surrender its Certificate(s) for final payment thereof in accordance with the Pooling
and Servicing Agreement. Any such amounts transferred to the Certificate Administrator may be invested in Permitted Investments
and all income and gain realized from investment of such funds shall accrue for its benefit.


 


This Certificate is limited in
right of payment to, among other things, certain collections and recoveries in respect of the Mortgage Loans, as more specifically
set forth herein and in the Pooling and Servicing Agreement.


 


As provided in the Pooling and
Servicing Agreement, the Trust Fund includes (in each case, to the extent of the Trust Fund’s interest therein and specifically
excluding any interest of any Serviced Companion Loan Noteholder therein): (i) such Mortgage Loans as from time to time are subject
to the Pooling and Servicing Agreement, together with the Mortgage Files relating thereto; (ii) all scheduled or unscheduled payments
on or collections in respect of the Mortgage Loans due after the Cut-off Date; (iii) the Trust Fund’s interest in any REO
Property; (iv) all revenues received in respect of any REO Property; (v) any Assignments of Leases, Rents and Profits and any security
agreements related to the Mortgage Loans; (vi) any indemnities or guaranties given as additional security for any Mortgage Loans;
(vii) a security interest in all assets deposited in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts, and Reserve
Accounts; (viii) the Loss of Value Reserve Fund; (ix) the Collection


 



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Account, the Serviced Whole Loan Collection Accounts, the
Distribution Accounts, any Gain-on-Sale Reserve Account, the Interest Reserve Account, and the Trust’s interest in any REO
Account, including any amounts on deposit therein, assets credited thereto and any reinvestment income, as applicable; (x) a security
interest in any environmental indemnity agreements relating to the Mortgaged Properties; (xi) a security interest in all insurance
policies with respect to the Mortgage Loans and the Mortgaged Properties; (xii) the rights and remedies under the Mortgage Loan
Purchase Agreements relating to document delivery requirements with respect to the Mortgage Loans and the representations and warranties
of the related Mortgage Loan Seller regarding its Mortgage Loans; (xiii) the Lower-Tier Regular Interests and (xiv) the proceeds
of the foregoing (other than any interest earned on deposits in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts
and any Reserve Accounts, to the extent such interest belongs to the related Borrower). As provided in the Pooling and Servicing
Agreement, withdrawals may be made from certain of the above accounts for purposes other than distributions to Certificateholders.


 


This Certificate does not purport
to summarize the Pooling and Servicing Agreement, and reference is made to the Pooling and Servicing Agreement for the interests,
rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and immunities of
the Certificate Administrator.


 


As provided in the Pooling and
Servicing Agreement and subject to certain limitations set forth therein, this Certificate is transferable or exchangeable only
upon surrender of this Certificate to the Certificate Registrar at its offices together with an assignment and transfer (executed
by the Holder or his duly authorized attorney), subject to the requirements in Article V of the Pooling and Servicing Agreement.
Upon surrender for registration of transfer of this Certificate, subject to the requirements Article V of the Pooling and Servicing
Agreement, the Certificate Administrator shall execute and the Authenticating Agent shall duly authenticate in the name of the
designated transferee or transferees, one or more new Certificates in authorized denominations of a like aggregate denomination
as the Certificate being surrendered. Such Certificates shall be delivered by the Certificate Registrar in accordance with Article
V of the Pooling and Servicing Agreement.


 


Prior to due presentation of
this Certificate for registration of transfer, the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor,
the Asset Representations Reviewer, the Certificate Administrator, the Trustee, the Certificate Registrar, any Paying Agent and
any agent of any of them may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes,
and none of the Depositor, the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Certificate
Registrar, any Paying Agent or any agent of any of them shall be affected by notice or knowledge to the contrary.


 


No fee or service charge shall
be imposed by the Certificate Registrar for its services in respect of any registration of transfer or exchange referred to in
Section 5.02 of the Pooling and Servicing Agreement other than for transfers to Institutional Accredited Investors as provided
in Section 5.02(h) of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional Accredited Investor,
the transferor shall reimburse the Trust Fund for any costs (including the cost of the Certificate Registrar’s counsel’s
review of the documents and


 



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any legal opinions, submitted by the transferor or transferee to the Certificate Registrar as provided
in the Pooling and Servicing Agreement) incurred by the Certificate Registrar in connection with such transfer. The Certificate
Registrar may require payment by each transferor of a sum sufficient to cover any tax, expense or other governmental charge payable
in connection with any such transfer.


 


The Pooling and Servicing Agreement
or any Custodial Agreement may be amended at any time by the Depositor, the Master Servicer, the Special Servicer, the Certificate
Administrator, the Operating Advisor, the Asset Representations Reviewer and the Trustee without the consent of any of the Certificateholders
or any Serviced Companion Loan Noteholders, (i) to cure any ambiguity or to correct any manifest error; (ii) to cause the
provisions of the Pooling and Servicing Agreement or any Custodial Agreement to conform or be consistent with or in furtherance
of the statements made in the Prospectus or Private Placement Memorandum with respect to the Certificates, the Trust or the Pooling
and Servicing Agreement or to correct or supplement any provisions of the Pooling and Servicing Agreement or any Custodial Agreement
which may be defective or inconsistent with any other provisions of the Pooling and Servicing Agreement or any Custodial Agreement;
(iii) to change the timing and/or nature of deposits in the Collection Account, the Distribution Accounts or any REO Account;
provided that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment; (iv) to modify, eliminate or add to any of its provisions to such extent
as shall be necessary to maintain the qualification of any Trust REMIC as a REMIC under the relevant provisions of the Code at
all times that any Certificate is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust Fund or any
Trust REMIC that would be a claim against the Trust Fund or any Trust REMIC; provided that the Trustee and the Certificate
Administrator have received an Opinion of Counsel (at the expense of the party requesting such amendment) to the effect that (a) such
action is necessary or desirable to maintain such qualification or to avoid or minimize the risk of the imposition of any such
tax and (b) such action will not adversely affect in any material respect the interests of any Certificateholder or Companion
Loan Noteholder; (v) to modify, eliminate or add to the provisions any provision hereof restricting transfer of the Class R
Certificates; provided the Depositor has determined that such change shall not, as evidenced by an Opinion of Counsel, cause
the Trust Fund, any Trust REMIC or any of the Certificateholders (other than the Transferor) to be subject to a federal tax caused
by a Transfer to a Person that is a Disqualified Organization or a Non-U.S. Tax Person; (vi) to revise or add any other provisions
with respect to matters or questions arising under this Agreement or any other change; provided that the required action
shall not adversely affect in any material respect the interests of any Certificateholder or any holder of a Serviced Pari Passu
Companion Loan not consenting thereto as evidenced in writing by an Opinion of Counsel, at the expense of the party requesting
such amendment or as evidenced by a Rating Agency Confirmation from each of the Rating Agencies with respect to such amendment
or supplement and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating
agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied
with respect to the Certificates); (vii) to amend or


 



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supplement any provision hereof to the extent necessary to maintain the then-current
ratings assigned to each Class of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of
the Rating Agencies and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating
agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied
with respect to the Certificates); provided that such amendment or supplement shall not adversely affect in any material
respect the interests of any Certificateholder not consenting thereto as evidenced by an Opinion of Counsel; (viii) to modify the
provisions of Section 3.06 and Section 3.17 of the Pooling and Servicing Agreement (with respect to reimbursement
of Nonrecoverable Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee
and, for so long as a Control Termination Event has not occurred and is not continuing, the Directing Certificateholder, determine
that the commercial mortgage backed securities industry standard for such provisions has changed, in order to conform to such industry
standard, (b) such modification does not adversely affect the status of any Trust REMIC as a REMIC under the relevant provisions
of the Code, as evidenced by an Opinion of Counsel and (c) each Rating Agency has delivered a Rating Agency Confirmation and,
with regard to any class of Serviced Companion Loan Securities, the applicable rating agencies have delivered a confirmation that
such action will not result in the downgrade, withdrawal or qualification of its then-current ratings (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied
with respect to the Certificates); (ix) to modify the procedures of this Agreement relating to compliance with Rule 17g-5
of the Exchange Act; provided that such amendment shall not adversely affect in any material respects the interests of any
Certificateholders, as evidenced by (x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating
Agency Confirmation from each Rating Agency rating such Certificates; and provided, further, that the Certificate
Administrator shall give notice of any such amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s
Website and the Certificate Administrator shall post such notice to the Certificate Administrator’s Website; and (x) to modify,
eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as would be necessary to comply with the
requirements for use of Form SF-3 in registered offerings to the extent provided in CFR 239.45(b)(1)(ii), (iii) or (iv).


 


The Pooling and Servicing Agreement
or any Custodial Agreement may also be amended from time to time by the Depositor, the Master Servicer, the Special Servicer, the
Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer and the Trustee with the prior written consent
of the Holders of Certificates representing not less than a majority of the Percentage Interests of each Class of Certificates
affected thereby (without regard to Certificates held by the Depositor, any of the Depositor’s Affiliates and/or agents)
and each Serviced Companion Loan Noteholder affected thereby for the purpose of adding any provisions to or changing in any manner
or eliminating any of the provisions of the Pooling and Servicing Agreement or modifying in any manner the rights of the Certificateholders
or the Serviced Companion Loan Noteholders; provided, that no such amendment may:


 


		(i)	reduce in any manner the amount of, or delay the timing
of, payments received on the Mortgage Loans or Subordinate Companion Loan which are required to be distributed on any Certificate,
without the consent of the



 






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			Holders of Certificates representing all of the Percentage
Interests of the Class or Classes affected thereby or which are required to be distributed to any Companion Loan Noteholders without
the consent of such Companion Loan Noteholders;


  


		(ii)	reduce the aforesaid percentage of Certificates of any
Class the Holders of which are required to consent to any such amendment or remove the requirement to obtain consent of any Companion
Loan Noteholder, in any such case without the consent of the Holders of all Certificates of such Class then-outstanding or such
Companion Loan Noteholder, as applicable;



 


		(iii)	adversely affect the Voting Rights of any Class of Certificates
without the consent of the Holders of all Certificates of such Class then outstanding;



 


		(iv)	change in any manner any defined term used in any Mortgage
Loan Purchase Agreement or the obligations of any Mortgage Loan Seller under such Mortgage Loan Purchase Agreement or otherwise
or change any rights of any Mortgage Loan Seller as a third party beneficiary hereunder, without the consent of such Mortgage
Loan Seller; or



 


		(v)	amend the Servicing Standard without the consent of 100%
of the Certificateholders or receipt of Rating Agency Confirmation from each Rating Agency and confirmation of the applicable
rating agencies that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of
any securities related to a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied
in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates).



 


Further, the Depositor, the Master
Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer and the
Trustee, at any time and from time to time, without the consent of the Certificateholders or, if applicable, the Serviced Companion
Loan Noteholders, may amend the Pooling and Servicing Agreement to modify, eliminate or add to any of its provisions (i) to such
extent as shall be necessary to maintain the qualification of the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC, or to prevent
the imposition of any additional material state or local taxes, at all times that any Certificates are outstanding; provided
that such action, as evidenced by an Opinion of Counsel (obtained at the expense of the Trust Fund), is necessary or helpful
to maintain such qualification or to prevent the imposition of any such taxes, and would not adversely affect in any material respect
the interest of any Certificateholder or if applicable, any Serviced Companion Loan Noteholder or (ii) to the extent necessary
to comply with the Investment Company Act of 1940, as amended, the Exchange Act, Regulation AB, and/or any related regulatory actions
and/or interpretations.


 


The Certificateholder owning
a majority of the Percentage Interest in the Controlling Class and, if no such Certificateholder exercises such option, the
Special Servicer,


 



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and if the Special Servicer does not exercise such option, the Master Servicer may effect an early termination
of the Trust Fund, upon not less than 30 days’ prior Notice of Termination given to the Trustee, the Special Servicer and
the Master Servicer any time specifying the Anticipated Termination Date, which shall be on or after the Early Termination Notice
Date (defined as any date as of which the aggregate Stated Principal Balance of the Mortgage Loans remaining in the Trust is less
than 1.0% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date) by purchasing on such date all,
but not less than all, of the Mortgage Loans then included in the Trust Fund, and the Trust’s interest in all property acquired
in respect of any Mortgage Loan, at a purchase price, payable in cash, equal to the sum of, without duplication:


 


		(A)	100% of the Stated Principal Balance of each Mortgage Loan included in the Trust as of the last
day of the month preceding such Anticipated Termination Date (less any P&I Advances previously made on account of principal);



 


		(B)	the fair market value of all other property included in the Trust Fund as of the last day of the
month preceding such Anticipated Termination Date, as determined by an Independent appraiser acceptable to the Master Servicer
as of a date not more than 30 days prior to the last day of the month preceding such Distribution Date;



 


		(C)	all unpaid interest accrued on the unpaid balance of each Mortgage Loan (including any Mortgage
Loan as to which title to the related Mortgaged Property has been acquired) at the Mortgage Rate to the last day of the month preceding
such Anticipated Termination Date (less any P&I Advances previously made on account of interest); and



 


		(D)	the aggregate amount of unreimbursed
                                         Advances, with interest thereon at the Reimbursement Rate, and unpaid Servicing Compensation,
                                         Special Servicing Compensation, Operating Advisor Fees, Certificate Administrator/Trustee
                                         Fees, the CREFC® Intellectual Property Royalty License Fees and Trust
                                         Fund expenses.



 


In addition, the Pooling and
Servicing Agreement provides that following the date on which the Class X-A Notional Amount, the Class X-B Notional Amount,
the Class X-C Notional Amount and the aggregate Certificate Balance of the Class A-1, Class A-2, Class A-SB, Class A-3A,
Class A-3B, Class A-4, Class A-M, Class B, Class C and Class D Certificates is reduced to zero, the Sole Certificateholder shall
have the right to exchange all of the then-outstanding Certificates (other than (i) the Class X-D, Class X-E Certificates
and Class X-F Certificates if the Sole Certificateholder has only taken an assignment of the Voting Rights of the Class X-D, Class X-E
Certificates and Class X-F Certificates pursuant to the definition of “Sole Certificateholder” and (ii) the Class
R Certificates) for all of the Mortgage Loans and each REO Property remaining in the Trust Fund as contemplated by clause (ii) of
Section 9.01(a) of the


 



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Pooling and Servicing Agreement by giving written notice to all the parties to the Pooling and Servicing
Agreement no later than 60 days prior to the anticipated date of exchange.


 


All costs and expenses incurred
by any and all parties to the Pooling and Servicing Agreement or by the Trust Fund in connection with the purchase of the Mortgage
Loans and the other assets of the Trust Fund pursuant to Section 9.01(c) of the Pooling and Servicing Agreement shall be borne
by the party exercising its purchase rights thereunder. The Trustee and the Certificate Administrator shall be entitled to rely
conclusively on any determination made by an Independent appraiser pursuant to Section 9.01(c) of the Pooling and Servicing
Agreement.


 


The respective obligations and
responsibilities of the Master Servicer, the Special Servicer, the Depositor, the Certificate Administrator, the Operating Advisor,
the Asset Representations Reviewer and the Trustee created by the Pooling and Servicing Agreement with respect to the Certificates
(other than the obligations of the Certificate Administrator to make certain payments and to send certain notices to Certificateholders
as set forth in the Pooling and Servicing Agreement) shall terminate upon payment (or provision for payment) to the Certificateholders
and the Serviced Companion Loan Noteholders of all amounts held by or on behalf of the Trustee, the Certificate Administrator
and the Master Servicer, as the case may be, required under the Pooling and Servicing Agreement to be so paid on the Distribution
Date following the earlier to occur of (i) the purchase of the Mortgage Loans and all other property held by the Trust Fund in
accordance with Section 9.01(c) of the Pooling and Servicing Agreement; (ii) the exchange by the Sole Certificateholder of its
Certificates for the Mortgage Loans in accordance with Section 9.01(g) of the Pooling and Servicing Agreement; and (iii) the
later of (a) the receipt or collection of the last payment due on any Mortgage Loan included in the Trust Fund, or (b) the
liquidation and disposition pursuant to the Pooling and Servicing Agreement of the last asset held by the Trust Fund; provided
that in no event shall the trust created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years from
the death of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the United
Kingdom, living on the date hereof.


 


Unless the Certificate of Authentication
on this Certificate has been executed by the Authenticating Agent, by manual signature, this Certificate shall not be entitled
to any benefit under the Pooling and Servicing Agreement or be valid for any purpose.


 









     A-8-10


     

    

 


IN WITNESS WHEREOF, the Certificate
Administrator has caused this Class B Certificate to be duly executed.


 


Dated: April __, 2016





	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Certificate Administrator
	 	 	 
	 	By:	 
	 	 	Authorized Signatory






 


Certificate of Authentication


 


This is one of the Class B
Certificates referred to in the Pooling and Servicing Agreement.


 


Dated: April __, 2016





	 	 	 
	 	WELLS FARGO BANK, NATIONAL
    ASSOCIATION, not in its individual capacity but solely as Authenticating Agent
	 	 	 
	 	By:	 
	 	 	Authorized Signatory


 






     A-8-11


     

    

 





EXHIBIT A-9


 


FORM OF CLASS C CERTIFICATE


 


[UNLESS THIS CERTIFICATE IS PRESENTED BY
AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE
CERTIFICATE REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE
TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE &
CO., HAS AN INTEREST HEREIN.]1


 


THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION
OF OR INTEREST IN THE DEPOSITOR, THE ORIGINATOR, THE MASTER SERVICER, THE SPECIAL SERVICER, THE CERTIFICATE ADMINISTRATOR, THE
CERTIFICATE REGISTRAR, THE OPERATING ADVISOR, THE ASSET REPRESENTATIONS REVIEWER, THE TRUSTEE OR ANY OF THEIR RESPECTIVE AFFILIATES.
NEITHER THE CERTIFICATES NOR THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY.


 


PRINCIPAL PAYMENTS ON THIS CERTIFICATE ARE PAYABLE
IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.


 


THIS CERTIFICATE IS SUBORDINATE TO ONE OR MORE
OTHER CLASSES OF CERTIFICATES AS AND TO THE EXTENT SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.


 


FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE
REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE TERMS ARE DEFINED,
RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED.


 





 



 


1
Legend required as long as DTC is the Depository under the Pooling and Servicing Agreement.


 






     A-9-1


     

    

 


DBJPM 2016-C1 MORTGAGE TRUST COMMERCIAL MORTGAGE

PASS-THROUGH CERTIFICATES, CLASS C


 


	Class C Pass-Through Rate: 3.352%	
        CUSIP:23312LAV0

         

        ISIN:   US23312LAV09

	 	 
	Original Aggregate Certificate Balance of the Class C Certificates: $35,789,000	Initial Certificate Balance of this Certificate: $35,789,000
	 	 
	First Distribution Date: May 12, 2016	Cut-off Date: The close of business on the later of the related due date for each Mortgage Loan in April 2016 and the date of origination of such Mortgage Loan
	 	 
	Assumed Final Distribution Date: March 2026	No.: C-[_]


 


This certifies that [________] is the
registered owner of a beneficial ownership interest in a Trust Fund, including the distributions to be made with respect to the
Class C Certificates. The Trust Fund, described more fully below, consists primarily of a pool of Mortgage Loans secured
by first liens on commercial, multifamily and manufactured housing community properties and held in trust by the Trustee and serviced
by the Master Servicer. The Trust Fund was created, and the Mortgage Loans are to be serviced, pursuant to the Pooling and Servicing
Agreement (as defined below). The Holder of this Certificate, by virtue of the acceptance hereof, assents to the terms, provisions
and conditions of the Pooling and Servicing Agreement and is bound thereby.


 


The Pooling and Servicing Agreement,
dated as of April 1, 2016 (the “Pooling and Servicing Agreement”), between the Depositor, Wells Fargo Bank,
National Association, as master servicer (in such capacity, the “Master Servicer”), Midland Loan Services, a
Division of PNC Bank, National Association, as special servicer (the “Special Servicer”), Wilmington Trust,
National Association, as trustee (the “Trustee”), Wells Fargo Bank, National Association, as certificate administrator
(in such capacity, the “Certificate Administrator”), paying agent and custodian, Park Bridge Lender Services
LLC, as operating advisor (in such capacity, the “Operating Advisor”), and Park Bridge Lender Services
LLC, as asset representations reviewer (in such capacity, the “Asset Representations Reviewer”) evidences
the issuance of the Class A-1, Class A-2, Class A-SB, Class A-3A, Class A-4, Class X-A, Class A-M, Class B, Class C,
Class A-3B, Class X-B, Class X-C, Class X-D, Class X-E, Class X-F, Class D, Class E, Class F, Class G, Class
H and Class R Certificates (the “Certificates”; the Holders of Certificates issued under the Pooling and
Servicing Agreement are collectively referred to herein as “Certificateholders”). This Certificate is issued
pursuant to, and in accordance with, the terms of the Pooling and Servicing Agreement. To the extent not defined herein, capitalized
terms used herein shall have the meanings assigned thereto in the Pooling and Servicing Agreement.


 






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This Certificate represents a
“regular interest” in a “real estate mortgage investment conduit”, as those terms are defined, respectively,
in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this Certificate, by acceptance
hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in accordance with the preceding
sentence for purposes of federal income taxes, state and local income and franchise taxes and other taxes imposed on or measured
by income.


 


The Certificate Administrator
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Mortgage Loans and has executed this Certificate in its limited capacity as Certificate Administrator under the Pooling
and Servicing Agreement. In the event that there is any conflict between any provision of this Certificate and any provision of
the Pooling and Servicing Agreement, such provision of this Certificate shall be superseded to the extent of such inconsistency.


 


Pursuant to the terms of the
Pooling and Servicing Agreement, the Certificate Administrator, or the Paying Agent on behalf of the Certificate Administrator,
will distribute (other than the final distribution on any Certificate), on the fourth Business Day after each Determination Date
(each such date, a “Distribution Date”) an amount equal to such Person’s pro rata share (based on the
Percentage Interest represented by this Certificate) of that portion of the aggregate amount of principal and interest then distributable,
if any, allocable to the Class C Certificates for such Distribution Date, all as more fully described in the Pooling and Servicing
Agreement. “Determination Date” is defined in the Pooling and Servicing Agreement as the sixth day of each month, or
if such sixth day is not a Business Day, then the next Business Day, commencing in May 2016. Holders of this Certificate may be
entitled to Prepayment Premiums and Yield Maintenance Charges as provided in the Pooling and Servicing Agreement.


 


During each Interest Accrual
Period (as defined below), interest on the Class C Certificates will be calculated based on a 360-day year consisting of twelve
30-day months on the outstanding Certificate Balance hereof.


 


Interest accrued on this Certificate
during an Interest Accrual Period, plus the aggregate unpaid Interest Shortfall with respect to this Certificate, if any, will
be payable on the related Distribution Date to the extent provided in the Pooling and Servicing Agreement. The “Interest
Accrual Period” means, with respect to any Distribution Date, the calendar month immediately preceding the month in which
such Distribution Date occurs. Each Interest Accrual Period is assumed to consist of 30 days.


 


All distributions (other than
the final distribution on any Certificate) will be made by the Paying Agent to the Persons in whose names the Certificates are
registered at the close of business on each Record Date, which will be the close of business on the last Business Day of the calendar
month preceding the month in which such Distribution Date occurs. Such distributions shall be made on each Distribution Date other
than the Termination Date to each Certificateholder of record on the related Record Date, (i) by wire transfer of immediately available
funds to the account of such Holder at a bank or other entity located in the United States and having appropriate facilities therefor
if such Holder shall have provided the Paying Agent with wire instructions in writing at least five Business Days prior to the
related Record Date (which wiring instructions may be in the form of a standing order applicable to all


 



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subsequent distributions),
or (ii) otherwise, by check mailed by first-class mail to the address set forth therefor in the Certificate Register. The final
distribution on each Certificate shall be made in like manner, but only upon presentment and surrender of such Certificate at the
office of the Certificate Administrator or its agent (which may be the Paying Agent or the Certificate Registrar acting as such
agent) that is specified in the notice to Holders of such final distribution.


 


Any funds not distributed on
the Termination Date because of the failure of any Certificateholders to tender their Certificates shall, on such date, be set
aside and held for the benefit of the appropriate non-tendering Certificateholders. If any Certificates as to which notice of the
Termination Date has been given pursuant to the Pooling and Servicing Agreement shall not have been surrendered for cancellation
within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders to surrender their Certificates for cancellation to receive the final distribution with respect
thereto. If within one year after the second notice not all of such Certificates shall have been surrendered for cancellation,
the Certificate Administrator may, directly or through an agent, take appropriate steps to contact the remaining non-tendering
Certificateholders concerning surrender of their Certificates. The costs and expenses of holding such funds in trust and of contacting
such Certificateholders shall be paid out of such funds. Subject to applicable state escheatment laws, if within two years after
the second notice any such Certificates shall not have been surrendered for cancellation, the Paying Agent shall distribute to
the Certificate Administrator all amounts distributable to the Holders thereof, and the Certificate Administrator shall thereafter
hold such amounts for the benefit of such Holders until the earlier of (i) its termination as Certificate Administrator under the
Pooling and Servicing Agreement and the transfer of such amounts to a successor Certificate Administrator and (ii) the termination
of the Trust Fund and distribution of such amounts to the Class R Certificateholders. No interest shall accrue or be payable to
any Certificateholder on any amount held under the Pooling and Servicing Agreement or by the Certificate Administrator as a result
of such Certificateholder’s failure to surrender its Certificate(s) for final payment thereof in accordance with the Pooling
and Servicing Agreement. Any such amounts transferred to the Certificate Administrator may be invested in Permitted Investments
and all income and gain realized from investment of such funds shall accrue for its benefit.


 


This Certificate is limited in
right of payment to, among other things, certain collections and recoveries in respect of the Mortgage Loans, as more specifically
set forth herein and in the Pooling and Servicing Agreement.


 


As provided in the Pooling and
Servicing Agreement, the Trust Fund includes (in each case, to the extent of the Trust Fund’s interest therein and specifically
excluding any interest of any Serviced Companion Loan Noteholder therein): (i) such Mortgage Loans as from time to time are subject
to the Pooling and Servicing Agreement, together with the Mortgage Files relating thereto; (ii) all scheduled or unscheduled payments
on or collections in respect of the Mortgage Loans due after the Cut-off Date; (iii) the Trust Fund’s interest in any REO
Property; (iv) all revenues received in respect of any REO Property; (v) any Assignments of Leases, Rents and Profits and any security
agreements related to the Mortgage Loans; (vi) any indemnities or guaranties given as additional security for any Mortgage Loans;
(vii) a security interest in all assets deposited in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts, and Reserve
Accounts; (viii) the Loss of Value Reserve Fund; (ix) the Collection


 



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Account, the Serviced Whole Loan Collection Accounts, the
Distribution Accounts, any Gain-on-Sale Reserve Account, the Interest Reserve Account, and the Trust’s interest in any REO
Account, including any amounts on deposit therein, assets credited thereto and any reinvestment income, as applicable; (x) a security
interest in any environmental indemnity agreements relating to the Mortgaged Properties; (xi) a security interest in all insurance
policies with respect to the Mortgage Loans and the Mortgaged Properties; (xii) the rights and remedies under the Mortgage Loan
Purchase Agreements relating to document delivery requirements with respect to the Mortgage Loans and the representations and warranties
of the related Mortgage Loan Seller regarding its Mortgage Loans; (xiii) the Lower-Tier Regular Interests and (xiv) the proceeds
of the foregoing (other than any interest earned on deposits in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts
and any Reserve Accounts, to the extent such interest belongs to the related Borrower). As provided in the Pooling and Servicing
Agreement, withdrawals may be made from certain of the above accounts for purposes other than distributions to Certificateholders.


 


This Certificate does not purport
to summarize the Pooling and Servicing Agreement, and reference is made to the Pooling and Servicing Agreement for the interests,
rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and immunities of
the Certificate Administrator.


 


As provided in the Pooling and
Servicing Agreement and subject to certain limitations set forth therein, this Certificate is transferable or exchangeable only
upon surrender of this Certificate to the Certificate Registrar at its offices together with an assignment and transfer (executed
by the Holder or his duly authorized attorney), subject to the requirements in Article V of the Pooling and Servicing Agreement.
Upon surrender for registration of transfer of this Certificate, subject to the requirements Article V of the Pooling and Servicing
Agreement, the Certificate Administrator shall execute and the Authenticating Agent shall duly authenticate in the name of the
designated transferee or transferees, one or more new Certificates in authorized denominations of a like aggregate denomination
as the Certificate being surrendered. Such Certificates shall be delivered by the Certificate Registrar in accordance with Article
V of the Pooling and Servicing Agreement.


 


Prior to due presentation of
this Certificate for registration of transfer, the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor,
the Asset Representations Reviewer, the Certificate Administrator, the Trustee, the Certificate Registrar, any Paying Agent and
any agent of any of them may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes,
and none of the Depositor, the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Certificate
Registrar, any Paying Agent or any agent of any of them shall be affected by notice or knowledge to the contrary.


 


No fee or service charge shall
be imposed by the Certificate Registrar for its services in respect of any registration of transfer or exchange referred to in
Section 5.02 of the Pooling and Servicing Agreement other than for transfers to Institutional Accredited Investors as provided
in Section 5.02(h) of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional Accredited Investor,
the transferor shall reimburse the Trust Fund for any costs (including the cost of the Certificate Registrar’s counsel’s
review of the documents and


 



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any legal opinions, submitted by the transferor or transferee to the Certificate Registrar as provided
in the Pooling and Servicing Agreement) incurred by the Certificate Registrar in connection with such transfer. The Certificate
Registrar may require payment by each transferor of a sum sufficient to cover any tax, expense or other governmental charge payable
in connection with any such transfer.


 


The Pooling and Servicing Agreement
or any Custodial Agreement may be amended at any time by the Depositor, the Master Servicer, the Special Servicer, the Certificate
Administrator, the Operating Advisor, the Asset Representations Reviewer and the Trustee without the consent of any of the Certificateholders
or any Serviced Companion Loan Noteholders, (i) to cure any ambiguity or to correct any manifest error; (ii) to cause the
provisions of the Pooling and Servicing Agreement or any Custodial Agreement to conform or be consistent with or in furtherance
of the statements made in the Prospectus or Private Placement Memorandum with respect to the Certificates, the Trust or the Pooling
and Servicing Agreement or to correct or supplement any provisions of the Pooling and Servicing Agreement or any Custodial Agreement
which may be defective or inconsistent with any other provisions of the Pooling and Servicing Agreement or any Custodial Agreement;
(iii) to change the timing and/or nature of deposits in the Collection Account, the Distribution Accounts or any REO Account;
provided that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment; (iv) to modify, eliminate or add to any of its provisions to such extent
as shall be necessary to maintain the qualification of any Trust REMIC as a REMIC under the relevant provisions of the Code at
all times that any Certificate is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust Fund or any
Trust REMIC that would be a claim against the Trust Fund or any Trust REMIC; provided that the Trustee and the Certificate
Administrator have received an Opinion of Counsel (at the expense of the party requesting such amendment) to the effect that (a) such
action is necessary or desirable to maintain such qualification or to avoid or minimize the risk of the imposition of any such
tax and (b) such action will not adversely affect in any material respect the interests of any Certificateholder or Companion
Loan Noteholder; (v) to modify, eliminate or add to the provisions any provision hereof restricting transfer of the Class R
Certificates; provided the Depositor has determined that such change shall not, as evidenced by an Opinion of Counsel, cause
the Trust Fund, any Trust REMIC or any of the Certificateholders (other than the Transferor) to be subject to a federal tax caused
by a Transfer to a Person that is a Disqualified Organization or a Non-U.S. Tax Person; (vi) to revise or add any other provisions
with respect to matters or questions arising under this Agreement or any other change; provided that the required action
shall not adversely affect in any material respect the interests of any Certificateholder or any holder of a Serviced Pari Passu
Companion Loan not consenting thereto as evidenced in writing by an Opinion of Counsel, at the expense of the party requesting
such amendment or as evidenced by a Rating Agency Confirmation from each of the Rating Agencies with respect to such amendment
or supplement and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating
agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied
with respect to the Certificates); (vii) to amend or


 



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supplement any provision hereof to the extent necessary to maintain the then-current
ratings assigned to each Class of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of
the Rating Agencies and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating
agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied
with respect to the Certificates); provided that such amendment or supplement shall not adversely affect in any material
respect the interests of any Certificateholder not consenting thereto as evidenced by an Opinion of Counsel; (viii) to modify the
provisions of Section 3.06 and Section 3.17 of the Pooling and Servicing Agreement (with respect to reimbursement
of Nonrecoverable Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee
and, for so long as a Control Termination Event has not occurred and is not continuing, the Directing Certificateholder, determine
that the commercial mortgage backed securities industry standard for such provisions has changed, in order to conform to such industry
standard, (b) such modification does not adversely affect the status of any Trust REMIC as a REMIC under the relevant provisions
of the Code, as evidenced by an Opinion of Counsel and (c) each Rating Agency has delivered a Rating Agency Confirmation and,
with regard to any class of Serviced Companion Loan Securities, the applicable rating agencies have delivered a confirmation that
such action will not result in the downgrade, withdrawal or qualification of its then-current ratings (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied
with respect to the Certificates); (ix) to modify the procedures of this Agreement relating to compliance with Rule 17g-5
of the Exchange Act; provided that such amendment shall not adversely affect in any material respects the interests of any
Certificateholders, as evidenced by (x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating
Agency Confirmation from each Rating Agency rating such Certificates; and provided, further, that the Certificate
Administrator shall give notice of any such amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s
Website and the Certificate Administrator shall post such notice to the Certificate Administrator’s Website; and (x) to modify,
eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as would be necessary to comply with the
requirements for use of Form SF-3 in registered offerings to the extent provided in CFR 239.45(b)(1)(ii), (iii) or (iv).


 


The Pooling and Servicing Agreement
or any Custodial Agreement may also be amended from time to time by the Depositor, the Master Servicer, the Special Servicer, the
Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer and the Trustee with the prior written consent
of the Holders of Certificates representing not less than a majority of the Percentage Interests of each Class of Certificates
affected thereby (without regard to Certificates held by the Depositor, any of the Depositor’s Affiliates and/or agents)
and each Serviced Companion Loan Noteholder affected thereby for the purpose of adding any provisions to or changing in any manner
or eliminating any of the provisions of the Pooling and Servicing Agreement or modifying in any manner the rights of the Certificateholders
or the Serviced Companion Loan Noteholders; provided, that no such amendment may:


 


		(i)	reduce in any manner the amount of, or delay the timing
of, payments received on the Mortgage Loans or Subordinate Companion Loan which are required to be distributed on any Certificate,
without the consent of the



 






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			Holders of Certificates representing all of the Percentage
Interests of the Class or Classes affected thereby or which are required to be distributed to any Companion Loan Noteholders without
the consent of such Companion Loan Noteholders;





 


		(ii)	reduce the aforesaid percentage of Certificates of any
Class the Holders of which are required to consent to any such amendment or remove the requirement to obtain consent of any Companion
Loan Noteholder, in any such case without the consent of the Holders of all Certificates of such Class then-outstanding or such
Companion Loan Noteholder, as applicable;



 


		(iii)	adversely affect the Voting Rights of any Class of Certificates
without the consent of the Holders of all Certificates of such Class then outstanding;



 


		(iv)	change in any manner any defined term used in any Mortgage
Loan Purchase Agreement or the obligations of any Mortgage Loan Seller under such Mortgage Loan Purchase Agreement or otherwise
or change any rights of any Mortgage Loan Seller as a third party beneficiary hereunder, without the consent of such Mortgage
Loan Seller; or



 


		(v)	amend the Servicing Standard without the consent of 100%
of the Certificateholders or receipt of Rating Agency Confirmation from each Rating Agency and confirmation of the applicable
rating agencies that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of
any securities related to a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied
in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates).



 


Further, the Depositor, the Master
Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer and the
Trustee, at any time and from time to time, without the consent of the Certificateholders or, if applicable, the Serviced Companion
Loan Noteholders, may amend the Pooling and Servicing Agreement to modify, eliminate or add to any of its provisions (i) to such
extent as shall be necessary to maintain the qualification of the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC, or to prevent
the imposition of any additional material state or local taxes, at all times that any Certificates are outstanding; provided
that such action, as evidenced by an Opinion of Counsel (obtained at the expense of the Trust Fund), is necessary or helpful
to maintain such qualification or to prevent the imposition of any such taxes, and would not adversely affect in any material respect
the interest of any Certificateholder or if applicable, any Serviced Companion Loan Noteholder or (ii) to the extent necessary
to comply with the Investment Company Act of 1940, as amended, the Exchange Act, Regulation AB, and/or any related regulatory actions
and/or interpretations.


 


The Certificateholder owning
a majority of the Percentage Interest in the Controlling Class and, if no such Certificateholder exercises such option, the
Special Servicer,


 



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and if the Special Servicer does not exercise such option, the Master Servicer may effect an early termination
of the Trust Fund, upon not less than 30 days’ prior Notice of Termination given to the Trustee, the Special Servicer and
the Master Servicer any time specifying the Anticipated Termination Date, which shall be on or after the Early Termination Notice
Date (defined as any date as of which the aggregate Stated Principal Balance of the Mortgage Loans remaining in the Trust is less
than 1.0% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date) by purchasing on such date all,
but not less than all, of the Mortgage Loans then included in the Trust Fund, and the Trust’s interest in all property acquired
in respect of any Mortgage Loan, at a purchase price, payable in cash, equal to the sum of, without duplication:


 


		(A)	100% of the Stated Principal Balance of each Mortgage Loan included in the Trust as of the last
day of the month preceding such Anticipated Termination Date (less any P&I Advances previously made on account of principal);



 


		(B)	the fair market value of all other property included in the Trust Fund as of the last day of the
month preceding such Anticipated Termination Date, as determined by an Independent appraiser acceptable to the Master Servicer
as of a date not more than 30 days prior to the last day of the month preceding such Distribution Date;



 


		(C)	all unpaid interest accrued on the unpaid balance of each Mortgage Loan (including any Mortgage
Loan as to which title to the related Mortgaged Property has been acquired) at the Mortgage Rate to the last day of the month preceding
such Anticipated Termination Date (less any P&I Advances previously made on account of interest); and



 


		(D)	the aggregate amount of unreimbursed
                                         Advances, with interest thereon at the Reimbursement Rate, and unpaid Servicing Compensation,
                                         Special Servicing Compensation, Operating Advisor Fees, Certificate Administrator/Trustee
                                         Fees, the CREFC® Intellectual Property Royalty License Fees and Trust
                                         Fund expenses.



 


In addition, the Pooling and
Servicing Agreement provides that following the date on which the Class X-A Notional Amount, the Class X-B Notional Amount,
the Class X-C Notional Amount and the aggregate Certificate Balance of the Class A-1, Class A-2, Class A-SB, Class A-3A,
Class A-3B, Class A-4, Class A-M, Class B, Class C and Class D Certificates is reduced to zero, the Sole Certificateholder shall
have the right to exchange all of the then-outstanding Certificates (other than (i) the Class X-D, Class X-E Certificates
and Class X-F Certificates if the Sole Certificateholder has only taken an assignment of the Voting Rights of the Class X-D, Class X-E
Certificates and Class X-F Certificates pursuant to the definition of “Sole Certificateholder” and (ii) the Class
R Certificates) for all of the Mortgage Loans and each REO Property remaining in the Trust Fund as contemplated by clause (ii) of
Section 9.01(a) of the


 



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Pooling and Servicing Agreement by giving written notice to all the parties to the Pooling and Servicing
Agreement no later than 60 days prior to the anticipated date of exchange.


 


All costs and expenses incurred
by any and all parties to the Pooling and Servicing Agreement or by the Trust Fund in connection with the purchase of the Mortgage
Loans and the other assets of the Trust Fund pursuant to Section 9.01(c) of the Pooling and Servicing Agreement shall be borne
by the party exercising its purchase rights thereunder. The Trustee and the Certificate Administrator shall be entitled to rely
conclusively on any determination made by an Independent appraiser pursuant to Section 9.01(c) of the Pooling and Servicing
Agreement.


 


The respective obligations and
responsibilities of the Master Servicer, the Special Servicer, the Depositor, the Certificate Administrator, the Operating Advisor,
the Asset Representations Reviewer and the Trustee created by the Pooling and Servicing Agreement with respect to the Certificates
(other than the obligations of the Certificate Administrator to make certain payments and to send certain notices to Certificateholders
as set forth in the Pooling and Servicing Agreement) shall terminate upon payment (or provision for payment) to the Certificateholders
and the Serviced Companion Loan Noteholders of all amounts held by or on behalf of the Trustee, the Certificate Administrator
and the Master Servicer, as the case may be, required under the Pooling and Servicing Agreement to be so paid on the Distribution
Date following the earlier to occur of (i) the purchase of the Mortgage Loans and all other property held by the Trust Fund in
accordance with Section 9.01(c) of the Pooling and Servicing Agreement; (ii) the exchange by the Sole Certificateholder of its
Certificates for the Mortgage Loans in accordance with Section 9.01(g) of the Pooling and Servicing Agreement; and (iii) the
later of (a) the receipt or collection of the last payment due on any Mortgage Loan included in the Trust Fund, or (b) the
liquidation and disposition pursuant to the Pooling and Servicing Agreement of the last asset held by the Trust Fund; provided
that in no event shall the trust created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years from
the death of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the United
Kingdom, living on the date hereof.


 


Unless the Certificate of Authentication
on this Certificate has been executed by the Authenticating Agent, by manual signature, this Certificate shall not be entitled
to any benefit under the Pooling and Servicing Agreement or be valid for any purpose.


 









     A-9-10


     

    

 


IN WITNESS WHEREOF, the Certificate
Administrator has caused this Class C Certificate to be duly executed.


 


Dated: April __, 2016





	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Certificate Administrator
	 	 	 
	 	By:	 
	 	 	Authorized Signatory


 


Certificate of Authentication


 


This is one of the Class C
Certificates referred to in the Pooling and Servicing Agreement.


 


Dated: April __, 2016





	 	 	 
	 	WELLS FARGO BANK, NATIONAL
    ASSOCIATION, not in its individual capacity but solely as Authenticating Agent
	 	 	 
	 	By:	 
	 	 	Authorized Signatory


 






     A-9-11


     

    

 





EXHIBIT A-10


 


FORM OF CLASS D [RULE 144A] 1
[REG S]2
CERTIFICATE


 


[UNLESS THIS CERTIFICATE IS PRESENTED
BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE
REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &
CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]3


 


THIS CERTIFICATE HAS NOT BEEN AND WILL
NOT BE REGISTERED OR QUALIFIED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR
ANY STATE OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED,
RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY IN COMPLIANCE WITH THE SECURITIES ACT AND OTHER APPLICABLE LAWS, AND ONLY (A)(1)
PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (2) FOR SO LONG AS THIS CERTIFICATE
IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”), TO AN INSTITUTIONAL INVESTOR
THAT THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING OF RULE 144A (“QUALIFIED
INSTITUTIONAL BUYER”), PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF ANOTHER QUALIFIED INSTITUTIONAL BUYER, WHOM
THE HOLDER HAS INFORMED, IN EACH CASE, THAT THE REOFFER, RESALE, PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A,
(3) TO AN INSTITUTIONAL “ACCREDITED INVESTOR,” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION
D UNDER THE SECURITIES ACT OR ANY ENTITY IN WHICH ALL OF THE EQUITY OWNERS ARE SUCH ACCREDITED INVESTORS, OR (4) TO INSTITUTIONS
THAT ARE A NON-”U.S. PERSON” IN AN “OFFSHORE TRANSACTION,” AS SUCH TERMS ARE DEFINED IN, AND IN ACCORDANCE
WITH RULE 903 OR RULE 904 OF, REGULATION S UNDER THE SECURITIES ACT, AND (B) IN ACCORDANCE WITH ANY OTHER APPLICABLE SECURITIES


 





 






1
For Rule 144A Global Certificates only. 


2
For Reg S Global Certificates only. 


3
Legend required as long as DTC is the Depository under the Pooling and Servicing Agreement.


 






     A-10-1


    	 



    














 


LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION.


 


THE INITIAL INVESTOR IN THIS CERTIFICATE,
AND EACH SUBSEQUENT PURCHASER OF THIS CERTIFICATE, BY PURCHASING THIS CERTIFICATE OR AN INTEREST HEREIN, IS DEEMED TO HAVE AGREED
TO COMPLY WITH CERTAIN TRANSFER REQUIREMENTS SET FORTH IN THE POOLING AND SERVICING AGREEMENT. A TRANSFEREE IS ALSO REQUIRED TO
DELIVER AN INVESTMENT REPRESENTATION LETTER SUBSTANTIALLY IN THE FORM OF EXHIBIT D-1 TO THE POOLING AND SERVICING AGREEMENT IF
SUCH TRANSFEREE IS A QUALIFIED INSTITUTIONAL BUYER OR (OTHER THAN WITH RESPECT TO A RESIDUAL CERTIFICATE) AN INSTITUTIONAL ACCREDITED
INVESTOR, AND MAY ALSO BE REQUIRED TO DELIVER AN OPINION OF COUNSEL IF SUCH TRANSFEREE IS NOT A QUALIFIED INSTITUTIONAL BUYER WITHIN
THE MEANING OF RULE 144A.


 


ANY HOLDER DESIRING TO EFFECT A TRANSFER
OF THIS CERTIFICATE SHALL, AND DOES HEREBY AGREE TO, INDEMNIFY THE CERTIFICATE REGISTRAR, THE CERTIFICATE ADMINISTRATOR, THE TRUSTEE,
THE MASTER SERVICER AND THE DEPOSITOR AGAINST ANY LOSS, LIABILITY OR EXPENSE THAT MAY RESULT IF THE TRANSFER IS NOT EXEMPT FROM
THE SECURITIES ACT OR IS NOT MADE IN ACCORDANCE WITH FEDERAL AND STATE LAWS.


 


THIS CERTIFICATE DOES NOT REPRESENT
AN OBLIGATION OF OR INTEREST IN THE DEPOSITOR, THE ORIGINATOR, THE MASTER SERVICER, THE SPECIAL SERVICER, THE CERTIFICATE ADMINISTRATOR,
THE OPERATING ADVISOR, THE ASSET REPRESENTATIONS REVIEWER, THE TRUSTEE OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THE CERTIFICATES
NOR THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY.


 


PRINCIPAL PAYMENTS ON THIS CERTIFICATE
ARE PAYABLE IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE BALANCE OF THIS CERTIFICATE AT ANY TIME
MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.


 


TRANSFERS AND EXCHANGES OF PORTIONS
OF THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS AS PROVIDED IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.


 


THIS CERTIFICATE IS SUBORDINATE TO ONE
OR MORE OTHER CLASSES OF CERTIFICATES AS AND TO THE EXTENT SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.


 


FOR U.S. FEDERAL INCOME TAX PURPOSES,
THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT


 






     A-10-2


    	 



    










 


CONDUIT,” AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN CODE SECTIONS 860G(a)(1) AND 860D.


 


[THIS CERTIFICATE HAS NOT BEEN AND
WILL NOT BE REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT AND, PRIOR TO THE DATE THAT IS 40 DAYS AFTER THE OFFERING OF THE
CERTIFICATES, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED IN THE UNITED STATES OR TO A U.S. PERSON EXCEPT PURSUANT
TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.]4


 











 






4
For Reg S Global Certificates only.


 






     A-10-3


    	 



    

  


DBJPM 2016-C1 MORTGAGE TRUST COMMERCIAL
MORTGAGE

PASS-THROUGH CERTIFICATES, CLASS D


 


	Class D Pass-Through Rate: 3.352%	 	
        CUSIP:   23312LAG35

            U2401LAG66

            23312LBD97

         

        ISIN:      US23312LAG328

            USU2401LAG699

            US23312LBD9110

         

	Original Aggregate Certificate Balance of the Class D Certificates:
    $38,856,000	 	Initial Certificate Balance of this Certificate: $[_____]
	 	 	 
	First Distribution Date: May 12, 2016	 	Cut-off Date: The close of business on the later of the related due date for each Mortgage Loan in April 2016 and the date of origination of such Mortgage Loan
	 	 	 
	Assumed Final Distribution Date: April 2026	 	No.: D-[__]





 


This certifies that
[               ] is the registered owner of
a beneficial ownership interest in a Trust Fund, including the distributions to be made with respect to the Class D Certificates.
The Trust Fund, described more fully below, consists primarily of a pool of Mortgage Loans secured by first liens on commercial,
multifamily and manufactured housing community properties and held in trust by the Trustee and serviced by the Master Servicer.
The Trust Fund was created, and the Mortgage Loans are to be serviced, pursuant to the Pooling and Servicing Agreement (as defined
below). The Holder of this Certificate, by virtue of the acceptance hereof, assents to the terms, provisions and conditions of
the Pooling and Servicing Agreement and is bound thereby.


 


The Pooling and Servicing
Agreement, dated as of April 1, 2016 (the “Pooling and Servicing Agreement”), between the Depositor, Wells Fargo
Bank, National Association, as master servicer (in such capacity, the “Master Servicer”), Midland Loan Services,
a Division of PNC Bank, National Association, as special servicer (the “Special Servicer”), Wilmington Trust,
National Association, as trustee (the “Trustee”), Wells Fargo Bank, National Association, as certificate administrator
(in such capacity, the “Certificate Administrator”), paying agent and custodian, Park Bridge Lender Services
LLC, as operating advisor (in such capacity, the


 





 









5
For Rule 144A Certificates 


6
For Regulation S Certificates 


7
For IAI Certificates 


8
For Rule 144A Certificates 


9
For Regulation S Certificates 


10
For IAI Certificates





 






     A-10-4


    	 



    




 





“Operating Advisor”), and Park Bridge Lender Services
LLC, as asset representations reviewer (in such capacity, the “Asset Representations Reviewer”) evidences
the issuance of the Class A-1, Class A-2, Class A-SB, Class A-3A, Class A-4, Class X-A, Class A-M, Class B, Class C, Class A-3B,
Class X-B, Class X-C, Class X-D, Class X-E, Class X-F, Class D, Class E, Class F, Class G, Class H and Class R Certificates (the
“Certificates”; the Holders of Certificates issued under the Pooling and Servicing Agreement are collectively
referred to herein as “Certificateholders”). This Certificate is issued pursuant to, and in accordance with,
the terms of the Pooling and Servicing Agreement. To the extent not defined herein, capitalized terms used herein shall have the
meanings assigned thereto in the Pooling and Servicing Agreement.


 


This Certificate represents
a “regular interest” in a “real estate mortgage investment conduit”, as those terms are defined, respectively,
in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this Certificate, by acceptance
hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in accordance with the preceding
sentence for purposes of federal income taxes, state and local income and franchise taxes and other taxes imposed on or measured
by income.


 


The Certificate Administrator
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Mortgage Loans and has executed this Certificate in its limited capacity as Certificate Administrator under the Pooling
and Servicing Agreement. In the event that there is any conflict between any provision of this Certificate and any provision of
the Pooling and Servicing Agreement, such provision of this Certificate shall be superseded to the extent of such inconsistency.


 


Pursuant to the terms
of the Pooling and Servicing Agreement, the Certificate Administrator, or the Paying Agent on behalf of the Certificate Administrator,
will distribute (other than the final distribution on any Certificate), on the fourth Business Day after each Determination Date
(each such date, a “Distribution Date”) an amount equal to such Person’s pro rata share (based on the
Percentage Interest represented by this Certificate) of that portion of the aggregate amount of principal and interest then distributable,
if any, allocable to the Class D Certificates for such Distribution Date, all as more fully described in the Pooling and Servicing
Agreement. “Determination Date” is defined in the Pooling and Servicing Agreement as the sixth day of each month, or
if such sixth day is not a Business Day, then the next Business Day, commencing in May 2016. Holders of this Certificate may be
entitled to Prepayment Premiums and Yield Maintenance Charges as provided in the Pooling and Servicing Agreement.


 


During each Interest
Accrual Period (as defined below), interest on the Class D Certificates will be calculated based on a 360-day year consisting of
twelve 30-day months on the outstanding Certificate Balance hereof.


 


Interest accrued on this
Certificate during an Interest Accrual Period, plus the aggregate unpaid Interest Shortfall with respect to this Certificate, if
any, will be payable on the related Distribution Date to the extent provided in the Pooling and Servicing Agreement. The “Interest
Accrual Period” means, with respect to any Distribution Date, the calendar month immediately preceding the month in which
such Distribution Date occurs. Each Interest Accrual Period is assumed to consist of 30 days.


 






     A-10-5


    	 



    




 


All distributions (other
than the final distribution on any Certificate) will be made by the Paying Agent to the Persons in whose names the Certificates
are registered at the close of business on each Record Date, which will be the close of business on the last Business Day of the
calendar month preceding the month in which such Distribution Date occurs. Such distributions shall be made on each Distribution
Date other than the Termination Date to each Certificateholder of record on the related Record Date, (i) by wire transfer of immediately
available funds to the account of such Holder at a bank or other entity located in the United States and having appropriate facilities
therefor if such Holder shall have provided the Paying Agent with wire instructions in writing at least five Business Days prior
to the related Record Date (which wiring instructions may be in the form of a standing order applicable to all subsequent distributions),
or (ii) otherwise, by check mailed by first-class mail to the address set forth therefor in the Certificate Register. The final
distribution on each Certificate shall be made in like manner, but only upon presentment and surrender of such Certificate at the
office of the Certificate Administrator or its agent (which may be the Paying Agent or the Certificate Registrar acting as such
agent) that is specified in the notice to Holders of such final distribution.


 


Any funds not distributed
on the Termination Date because of the failure of any Certificateholders to tender their Certificates shall, on such date, be set
aside and held for the benefit of the appropriate non-tendering Certificateholders. If any Certificates as to which notice of the
Termination Date has been given pursuant to the Pooling and Servicing Agreement shall not have been surrendered for cancellation
within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders to surrender their Certificates for cancellation to receive the final distribution with respect
thereto. If within one year after the second notice not all of such Certificates shall have been surrendered for cancellation,
the Certificate Administrator may, directly or through an agent, take appropriate steps to contact the remaining non-tendering
Certificateholders concerning surrender of their Certificates. The costs and expenses of holding such funds in trust and of contacting
such Certificateholders shall be paid out of such funds. Subject to applicable state escheatment laws, if within two years after
the second notice any such Certificates shall not have been surrendered for cancellation, the Paying Agent shall distribute to
the Certificate Administrator all amounts distributable to the Holders thereof, and the Certificate Administrator shall thereafter
hold such amounts for the benefit of such Holders until the earlier of (i) its termination as Certificate Administrator under the
Pooling and Servicing Agreement and the transfer of such amounts to a successor Certificate Administrator and (ii) the termination
of the Trust Fund and distribution of such amounts to the Class R Certificateholders. No interest shall accrue or be payable to
any Certificateholder on any amount held under the Pooling and Servicing Agreement or by the Certificate Administrator as a result
of such Certificateholder’s failure to surrender its Certificate(s) for final payment thereof in accordance with the Pooling
and Servicing Agreement. Any such amounts transferred to the Certificate Administrator may be invested in Permitted Investments
and all income and gain realized from investment of such funds shall accrue for its benefit.


 


This Certificate is limited
in right of payment to, among other things, certain collections and recoveries in respect of the Mortgage Loans, as more specifically
set forth herein and in the Pooling and Servicing Agreement.


 






     A-10-6


    	 



    




 


As provided in the Pooling
and Servicing Agreement, the Trust Fund includes (in each case, to the extent of the Trust Fund’s interest therein and specifically
excluding any interest of any Serviced Companion Loan Noteholder therein): (i) such Mortgage Loans as from time to time are subject
to the Pooling and Servicing Agreement, together with the Mortgage Files relating thereto; (ii) all scheduled or unscheduled payments
on or collections in respect of the Mortgage Loans due after the Cut-off Date; (iii) the Trust Fund’s interest in any REO
Property; (iv) all revenues received in respect of any REO Property; (v) any Assignments of Leases, Rents and Profits and any security
agreements related to the Mortgage Loans; (vi) any indemnities or guaranties given as additional security for any Mortgage Loans;
(vii) a security interest in all assets deposited in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts, and Reserve
Accounts; (viii) the Loss of Value Reserve Fund; (ix) the Collection Account, the Serviced Whole Loan Collection Accounts, the
Distribution Accounts, any Gain-on-Sale Reserve Account, the Interest Reserve Account, and the Trust’s interest in any REO
Account, including any amounts on deposit therein, assets credited thereto and any reinvestment income, as applicable; (x) a security
interest in any environmental indemnity agreements relating to the Mortgaged Properties; (xi) a security interest in all insurance
policies with respect to the Mortgage Loans and the Mortgaged Properties; (xii) the rights and remedies under the Mortgage Loan
Purchase Agreements relating to document delivery requirements with respect to the Mortgage Loans and the representations and warranties
of the related Mortgage Loan Seller regarding its Mortgage Loans; (xiii) the Lower-Tier Regular Interests and (xiv) the proceeds
of the foregoing (other than any interest earned on deposits in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts
and any Reserve Accounts, to the extent such interest belongs to the related Borrower). As provided in the Pooling and Servicing
Agreement, withdrawals may be made from certain of the above accounts for purposes other than distributions to Certificateholders.


 


This Certificate does
not purport to summarize the Pooling and Servicing Agreement, and reference is made to the Pooling and Servicing Agreement for
the interests, rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and
immunities of the Certificate Administrator.


 


As provided in the Pooling
and Servicing Agreement and subject to certain limitations set forth therein, this Certificate is transferable or exchangeable
only upon surrender of this Certificate to the Certificate Registrar at its offices together with an assignment and transfer (executed
by the Holder or his duly authorized attorney), subject to the requirements in Article V of the Pooling and Servicing Agreement.
Upon surrender for registration of transfer of this Certificate, subject to the requirements Article V of the Pooling and Servicing
Agreement, the Certificate Administrator shall execute and the Authenticating Agent shall duly authenticate in the name of the
designated transferee or transferees, one or more new Certificates in authorized denominations of a like aggregate denomination
as the Certificate being surrendered. Such Certificates shall be delivered by the Certificate Registrar in accordance with Article
V of the Pooling and Servicing Agreement.


 


Prior to due presentation
of this Certificate for registration of transfer, the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor,
the Asset Representations Reviewer, the Certificate Administrator, the Trustee, the Certificate Registrar, any Paying Agent and
any agent of any of them may treat the Person in whose name this


 






     A-10-7


    	 



    


 


Certificate is registered as the owner hereof for all purposes,
and none of the Depositor, the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Certificate
Registrar, any Paying Agent or any agent of any of them shall be affected by notice or knowledge to the contrary.


 


No fee or service charge
shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer or exchange referred
to in Section 5.02 of the Pooling and Servicing Agreement other than for transfers to Institutional Accredited Investors as provided
in Section 5.02(h) of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional Accredited Investor,
the transferor shall reimburse the Trust Fund for any costs (including the cost of the Certificate Registrar’s counsel’s
review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar as provided
in the Pooling and Servicing Agreement) incurred by the Certificate Registrar in connection with such transfer. The Certificate
Registrar may require payment by each transferor of a sum sufficient to cover any tax, expense or other governmental charge payable
in connection with any such transfer.


 


The Pooling and Servicing
Agreement or any Custodial Agreement may be amended at any time by the Depositor, the Master Servicer, the Special Servicer, the
Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer and the Trustee without the consent of any
of the Certificateholders or any Serviced Companion Loan Noteholders, (i) to cure any ambiguity or to correct any manifest error;
(ii) to cause the provisions of the Pooling and Servicing Agreement or any Custodial Agreement to conform or be consistent with
or in furtherance of the statements made in the Prospectus or Private Placement Memorandum with respect to the Certificates, the
Trust or the Pooling and Servicing Agreement or to correct or supplement any provisions of the Pooling and Servicing Agreement
or any Custodial Agreement which may be defective or inconsistent with any other provisions of the Pooling and Servicing Agreement
or any Custodial Agreement; (iii) to change the timing and/or nature of deposits in the Collection Account, the Distribution Accounts
or any REO Account; provided that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior
to the related Distribution Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder,
as evidenced in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating
Agency Confirmation from each Rating Agency with respect to such amendment; (iv) to modify, eliminate or add to any of its provisions
to such extent as shall be necessary to maintain the qualification of any Trust REMIC as a REMIC under the relevant provisions
of the Code at all times that any Certificate is outstanding, or to avoid or minimize the risk of imposition of any tax on the
Trust Fund or any Trust REMIC that would be a claim against the Trust Fund or any Trust REMIC; provided that the Trustee
and the Certificate Administrator have received an Opinion of Counsel (at the expense of the party requesting such amendment) to
the effect that (a) such action is necessary or desirable to maintain such qualification or to avoid or minimize the risk of the
imposition of any such tax and (b) such action will not adversely affect in any material respect the interests of any Certificateholder
or Companion Loan Noteholder; (v) to modify, eliminate or add to the provisions any provision hereof restricting transfer of the
Class R Certificates; provided the Depositor has determined that such change shall not, as evidenced by an Opinion of Counsel,
cause the Trust Fund, any Trust REMIC or any of the Certificateholders (other than the Transferor) to be subject to a federal tax
caused by a Transfer to a Person that is a


 






     A-10-8


    	 



    




 


Disqualified Organization or a Non-U.S. Tax Person; (vi) to revise or add any other
provisions with respect to matters or questions arising under this Agreement or any other change; provided that the required
action shall not adversely affect in any material respect the interests of any Certificateholder or any holder of a Serviced Pari
Passu Companion Loan not consenting thereto as evidenced in writing by an Opinion of Counsel, at the expense of the party requesting
such amendment or as evidenced by a Rating Agency Confirmation from each of the Rating Agencies with respect to such amendment
or supplement and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating
agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied
with respect to the Certificates); (vii) to amend or supplement any provision hereof to the extent necessary to maintain the then-current
ratings assigned to each Class of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of
the Rating Agencies and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating
agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied
with respect to the Certificates); provided that such amendment or supplement shall not adversely affect in any material
respect the interests of any Certificateholder not consenting thereto as evidenced by an Opinion of Counsel; (viii) to modify the
provisions of Section 3.06 and Section 3.17 of the Pooling and Servicing Agreement (with respect to reimbursement
of Nonrecoverable Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and,
for so long as a Control Termination Event has not occurred and is not continuing, the Directing Certificateholder, determine that
the commercial mortgage backed securities industry standard for such provisions has changed, in order to conform to such industry
standard, (b) such modification does not adversely affect the status of any Trust REMIC as a REMIC under the relevant provisions
of the Code, as evidenced by an Opinion of Counsel and (c) each Rating Agency has delivered a Rating Agency Confirmation and, with
regard to any class of Serviced Companion Loan Securities, the applicable rating agencies have delivered a confirmation that such
action will not result in the downgrade, withdrawal or qualification of its then-current ratings (provided that such rating
agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied
with respect to the Certificates); (ix) to modify the procedures of this Agreement relating to compliance with Rule 17g-5 of the
Exchange Act; provided that such amendment shall not adversely affect in any material respects the interests of any Certificateholders,
as evidenced by (x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation from each
Rating Agency rating such Certificates; and provided, further, that the Certificate Administrator shall give notice
of any such amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website and the Certificate
Administrator shall post such notice to the Certificate Administrator’s Website; and (x) to modify, eliminate or add to any
provisions of the Pooling and Servicing Agreement to such extent as would be necessary to comply with the requirements for use
of Form SF-3 in registered offerings to the extent provided in CFR 239.45(b)(1)(ii), (iii) or (iv).


 


The Pooling and Servicing
Agreement or any Custodial Agreement may also be amended from time to time by the Depositor, the Master Servicer, the Special Servicer,
the Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer and the


 






     A-10-9


    	 



    




 


Trustee with the prior written
consent of the Holders of Certificates representing not less than a majority of the Percentage Interests of each Class of Certificates
affected thereby (without regard to Certificates held by the Depositor, any of the Depositor’s Affiliates and/or agents)
and each Serviced Companion Loan Noteholder affected thereby for the purpose of adding any provisions to or changing in any manner
or eliminating any of the provisions of the Pooling and Servicing Agreement or modifying in any manner the rights of the Certificateholders
or the Serviced Companion Loan Noteholders; provided, that no such amendment may:


 


		(i)	reduce in any manner the amount of, or delay the timing
of, payments received on the Mortgage Loans or Subordinate Companion Loan which are required to be distributed on any Certificate,
without the consent of the Holders of Certificates representing all of the Percentage Interests of the Class or Classes affected
thereby or which are required to be distributed to any Companion Loan Noteholders without the consent of such Companion Loan Noteholders;



		 	 



		(ii)	reduce the aforesaid percentage of Certificates of any
Class the Holders of which are required to consent to any such amendment or remove the requirement to obtain consent of any Companion
Loan Noteholder, in any such case without the consent of the Holders of all Certificates of such Class then-outstanding or such
Companion Loan Noteholder, as applicable;



		 	 



		(iii)	adversely affect the Voting Rights of any Class of Certificates
without the consent of the Holders of all Certificates of such Class then outstanding;



		 	 



		(iv)	change in any manner any defined term used in any Mortgage
Loan Purchase Agreement or the obligations of any Mortgage Loan Seller under such Mortgage Loan Purchase Agreement or otherwise
or change any rights of any Mortgage Loan Seller as a third party beneficiary hereunder, without the consent of such Mortgage
Loan Seller; or



		 	 



		(v)	amend the Servicing Standard without the consent of 100%
of the Certificateholders or receipt of Rating Agency Confirmation from each Rating Agency and confirmation of the applicable
rating agencies that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of
any securities related to a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied
in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates).



 


Further, the Depositor,
the Master Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer
and the Trustee, at any time and from time to time, without the consent of the Certificateholders or, if applicable, the Serviced
Companion Loan Noteholders, may amend the Pooling and Servicing Agreement to modify, eliminate or add to any of its provisions
(i) to such extent as shall be necessary to maintain the qualification of the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC,
or


 






     A-10-10


    	 



    




 


to prevent the imposition of any additional material state or local taxes, at all times that any Certificates are outstanding;
provided that such action, as evidenced by an Opinion of Counsel (obtained at the expense of the Trust Fund), is
necessary or helpful to maintain such qualification or to prevent the imposition of any such taxes, and would not adversely affect
in any material respect the interest of any Certificateholder or if applicable, any Serviced Companion Loan Noteholder or (ii)
to the extent necessary to comply with the Investment Company Act of 1940, as amended, the Exchange Act, Regulation AB, and/or
any related regulatory actions and/or interpretations.


 


The Certificateholder
owning a majority of the Percentage Interest in the Controlling Class and, if no such Certificateholder exercises such option,
the Special Servicer, and if the Special Servicer does not exercise such option, the Master Servicer may effect an early termination
of the Trust Fund, upon not less than 30 days’ prior Notice of Termination given to the Trustee, the Special Servicer and
the Master Servicer any time specifying the Anticipated Termination Date, which shall be on or after the Early Termination Notice
Date (defined as any date as of which the aggregate Stated Principal Balance of the Mortgage Loans remaining in the Trust is less
than 1.0% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date) by purchasing on such date all,
but not less than all, of the Mortgage Loans then included in the Trust Fund, and the Trust’s interest in all property acquired
in respect of any Mortgage Loan, at a purchase price, payable in cash, equal to the sum of, without duplication:


 


		(A)	100% of the Stated Principal Balance of each Mortgage Loan included in the Trust as of the last
day of the month preceding such Anticipated Termination Date (less any P&I Advances previously made on account of principal);



 


		(B)	the fair market value of all other property included in the Trust Fund as of the last day of the
month preceding such Anticipated Termination Date, as determined by an Independent appraiser acceptable to the Master Servicer
as of a date not more than 30 days prior to the last day of the month preceding such Distribution Date;



 


		(C)	all unpaid interest accrued on the unpaid balance of each Mortgage Loan (including any Mortgage
Loan as to which title to the related Mortgaged Property has been acquired) at the Mortgage Rate to the last day of the month preceding
such Anticipated Termination Date (less any P&I Advances previously made on account of interest); and



 


		(D)	the aggregate amount of unreimbursed
                                         Advances, with interest thereon at the Reimbursement Rate, and unpaid Servicing Compensation,
                                         Special Servicing Compensation, Operating Advisor Fees, Certificate Administrator/Trustee
                                         Fees, the CREFC® Intellectual Property Royalty License Fees and Trust
                                         Fund expenses.



 






     A-10-11


    	 



    







 


In addition, the Pooling
and Servicing Agreement provides that following the date on which the Class X-A Notional Amount, the Class X-B Notional Amount,
the Class X-C Notional Amount and the aggregate Certificate Balance of the Class A-1, Class A-2, Class A-SB, Class A-3A, Class
A-3B, Class A-4, Class A-M, Class B, Class C and Class D Certificates is reduced to zero, the Sole Certificateholder shall have
the right to exchange all of the then-outstanding Certificates (other than (i) the Class X-D, Class X-E Certificates and Class
X-F Certificates if the Sole Certificateholder has only taken an assignment of the Voting Rights of the Class X-D, Class X-E Certificates
and Class X-F Certificates pursuant to the definition of “Sole Certificateholder” and (ii) the Class R Certificates)
for all of the Mortgage Loans and each REO Property remaining in the Trust Fund as contemplated by clause (ii) of Section 9.01(a)
of the Pooling and Servicing Agreement by giving written notice to all the parties to the Pooling and Servicing Agreement no later
than 60 days prior to the anticipated date of exchange.


 


All costs and expenses
incurred by any and all parties to the Pooling and Servicing Agreement or by the Trust Fund in connection with the purchase of
the Mortgage Loans and the other assets of the Trust Fund pursuant to Section 9.01(c) of the Pooling and Servicing Agreement shall
be borne by the party exercising its purchase rights thereunder. The Trustee and the Certificate Administrator shall be entitled
to rely conclusively on any determination made by an Independent appraiser pursuant to Section 9.01(c) of the Pooling and Servicing
Agreement.


 


The respective obligations
and responsibilities of the Master Servicer, the Special Servicer, the Depositor, the Certificate Administrator, the Operating
Advisor, the Asset Representations Reviewer and the Trustee created by the Pooling and Servicing Agreement with respect to the
Certificates (other than the obligations of the Certificate Administrator to make certain payments and to send certain notices
to Certificateholders as set forth in the Pooling and Servicing Agreement) shall terminate upon payment (or provision for payment)
to the Certificateholders and the Serviced Companion Loan Noteholders of all amounts held by or on behalf of the Trustee, the
Certificate Administrator and the Master Servicer, as the case may be, required under the Pooling and Servicing Agreement to be
so paid on the Distribution Date following the earlier to occur of (i) the purchase of the Mortgage Loans and all other property
held by the Trust Fund in accordance with Section 9.01(c) of the Pooling and Servicing Agreement; (ii) the exchange by the Sole
Certificateholder of its Certificates for the Mortgage Loans in accordance with Section 9.01(g) of the Pooling and Servicing Agreement;
and (iii) the later of (a) the receipt or collection of the last payment due on any Mortgage Loan included in the Trust Fund,
or (b) the liquidation and disposition pursuant to the Pooling and Servicing Agreement of the last asset held by the Trust Fund;
provided that in no event shall the trust created by the Pooling and Servicing Agreement continue beyond the expiration
of 21 years from the death of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States
to the United Kingdom, living on the date hereof.


 


Unless the Certificate
of Authentication on this Certificate has been executed by the Authenticating Agent, by manual signature, this Certificate shall
not be entitled to any benefit under the Pooling and Servicing Agreement or be valid for any purpose.


 






     A-10-12


    	 



    




 


IN WITNESS WHEREOF, the Certificate Administrator
has caused this Class D Certificate to be duly executed.


 


Dated: April __, 2016


 





	 	WELLS FARGO
BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Certificate Administrator
	 	 
	 	By:	 
	 	 	Authorized Signatory


  


Certificate of Authentication


 


This is one of the Class
D Certificates referred to in the Pooling and Servicing Agreement.


 


Dated: April __, 2016


 





	 	WELLS FARGO
BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Authenticating Agent
	 	 
	 	By:	 
	 	 	Authorized Signatory


 






     A-10-13


    	 



    

 


EXHIBIT A-11


 


FORM OF CLASS E [RULE 144A]1
[REG S]2
CERTIFICATE


 


[UNLESS THIS CERTIFICATE IS PRESENTED
BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE
REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &
CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]3


 


THIS CERTIFICATE HAS NOT BEEN AND WILL
NOT BE REGISTERED OR QUALIFIED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR
ANY STATE OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED,
RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY IN COMPLIANCE WITH THE SECURITIES ACT AND OTHER APPLICABLE LAWS, AND ONLY (A)(1)
PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (2) FOR SO LONG AS THIS CERTIFICATE
IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”), TO AN INSTITUTIONAL INVESTOR
THAT THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING OF RULE 144A (“QUALIFIED
INSTITUTIONAL BUYER”), PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF ANOTHER QUALIFIED INSTITUTIONAL BUYER, WHOM
THE HOLDER HAS INFORMED, IN EACH CASE, THAT THE REOFFER, RESALE, PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A,
(3) TO AN INSTITUTIONAL “ACCREDITED INVESTOR,” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION
D UNDER THE SECURITIES ACT OR ANY ENTITY IN WHICH ALL OF THE EQUITY OWNERS ARE SUCH ACCREDITED INVESTORS, OR (4) TO INSTITUTIONS
THAT ARE A NON-”U.S. PERSON” IN AN “OFFSHORE TRANSACTION,” AS SUCH TERMS ARE DEFINED IN, AND IN ACCORDANCE
WITH RULE 903 OR RULE 904 OF, REGULATION S UNDER THE SECURITIES ACT, AND (B) IN ACCORDANCE WITH ANY OTHER APPLICABLE SECURITIES
LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION.


  


 






1
For Rule 144A Global Certificates only. 


2
For Reg S Global Certificates only. 


3
Legend required as long as DTC is the Depository under the Pooling and Servicing Agreement.


 






     A-11-1


    	 



    





 


THE INITIAL INVESTOR IN THIS CERTIFICATE,
AND EACH SUBSEQUENT PURCHASER OF THIS CERTIFICATE, BY PURCHASING THIS CERTIFICATE OR AN INTEREST HEREIN, IS DEEMED TO HAVE AGREED
TO COMPLY WITH CERTAIN TRANSFER REQUIREMENTS SET FORTH IN THE POOLING AND SERVICING AGREEMENT. A TRANSFEREE IS ALSO REQUIRED TO
DELIVER AN INVESTMENT REPRESENTATION LETTER SUBSTANTIALLY IN THE FORM OF EXHIBIT D-1 TO THE POOLING AND SERVICING AGREEMENT IF
SUCH TRANSFEREE IS A QUALIFIED INSTITUTIONAL BUYER OR (OTHER THAN WITH RESPECT TO A RESIDUAL CERTIFICATE) AN INSTITUTIONAL ACCREDITED
INVESTOR, AND MAY ALSO BE REQUIRED TO DELIVER AN OPINION OF COUNSEL IF SUCH TRANSFEREE IS NOT A QUALIFIED INSTITUTIONAL BUYER WITHIN
THE MEANING OF RULE 144A.


 


ANY HOLDER DESIRING TO EFFECT A TRANSFER
OF THIS CERTIFICATE SHALL, AND DOES HEREBY AGREE TO, INDEMNIFY THE CERTIFICATE REGISTRAR, THE CERTIFICATE ADMINISTRATOR, THE TRUSTEE,
THE MASTER SERVICER AND THE DEPOSITOR AGAINST ANY LOSS, LIABILITY OR EXPENSE THAT MAY RESULT IF THE TRANSFER IS NOT EXEMPT FROM
THE SECURITIES ACT OR IS NOT MADE IN ACCORDANCE WITH FEDERAL AND STATE LAWS.


 


THIS CERTIFICATE DOES NOT REPRESENT
AN OBLIGATION OF OR INTEREST IN THE DEPOSITOR, THE ORIGINATOR, THE MASTER SERVICER, THE SPECIAL SERVICER, THE CERTIFICATE ADMINISTRATOR,
THE CERTIFICATE REGISTRAR, THE OPERATING ADVISOR, THE ASSET REPRESENTATIONS REVIEWER, THE TRUSTEE OR ANY OF THEIR RESPECTIVE AFFILIATES.
NEITHER THE CERTIFICATES NOR THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY.


 


PRINCIPAL PAYMENTS ON THIS CERTIFICATE
ARE PAYABLE IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE BALANCE OF THIS CERTIFICATE AT ANY TIME
MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.


 


TRANSFERS AND EXCHANGES OF PORTIONS
OF THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS AS PROVIDED IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.


 


THIS CERTIFICATE IS SUBORDINATE TO ONE
OR MORE OTHER CLASSES OF CERTIFICATES AS AND TO THE EXTENT SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.


 


THIS CERTIFICATE SHOULD NOT BE PURCHASED
BY A TRANSFEREE THAT IS (A) AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT ARRANGEMENT, INCLUDING AN INDIVIDUAL RETIREMENT ACCOUNT
OR A KEOGH PLAN, WHICH IS SUBJECT TO THE EMPLOYEE RETIREMENT INCOME SECURITY ACT


 






     A-11-2


    	 



    




 


OF 1974, AS AMENDED (“ERISA”),
OR SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”) OR A GOVERNMENTAL PLAN, AS DEFINED
IN SECTION 3(32) OF ERISA, OR OTHER PLAN SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW (“SIMILAR LAW”) WHICH IS
TO A MATERIAL EXTENT SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE (EACH, A “PLAN”), OR (B) A COLLECTIVE
INVESTMENT FUND WHOSE UNDERLYING ASSETS INCLUDE PLAN ASSETS BY REASON OF A PLAN’S INVESTMENT IN THE COLLECTIVE INVESTMENT
FUND (PURSUANT TO U.S. DEPARTMENT OF LABOR REGULATION SECTION 2510.3-101, AS MODIFIED BY SECTION 3(42) OF ERISA), AN INSURANCE
COMPANY USING ASSETS OF SEPARATE ACCOUNTS OR GENERAL ACCOUNTS WHICH INCLUDE ASSETS OF PLANS (OR WHICH ARE DEEMED PURSUANT TO ERISA
OR ANY SIMILAR LAW TO INCLUDE ASSETS OF PLANS) OR OTHER PERSON ACTING ON BEHALF OF ANY SUCH PLAN OR USING THE ASSETS OF ANY SUCH
PLAN, OTHER THAN AN INSURANCE COMPANY USING THE ASSETS OF ITS GENERAL ACCOUNT UNDER CIRCUMSTANCES WHEREBY SUCH PURCHASE AND THE
SUBSEQUENT HOLDING OF SUCH CERTIFICATE BY SUCH INSURANCE COMPANY WOULD BE EXEMPT FROM THE PROHIBITED TRANSACTION PROVISIONS OF
SECTIONS 406 AND 407 OF ERISA, AND CODE SECTION 4975 UNDER SECTIONS I AND III OF PTCE 95-60 OR A SUBSTANTIALLY SIMILAR EXEMPTION
UNDER SIMILAR LAW. TRANSFEREES OF THIS CERTIFICATE TAKING DELIVERY IN CERTIFICATED FORM SHALL BE REQUIRED EITHER (i) TO DELIVER
A LETTER IN THE FORM ATTACHED TO THE POOLING AND SERVICING AGREEMENT TO SUCH EFFECT, OR (ii) IF THE TRANSFEREE IS SUCH AN ENTITY
SPECIFIED IN (A) OR (B) ABOVE, SUCH ENTITY SHALL PROVIDE ANY OPINIONS OF COUNSEL, OFFICERS’ CERTIFICATES OR AGREEMENTS AS
MAY BE REQUIRED BY, AND IN FORM AND SUBSTANCE SATISFACTORY TO, THE DEPOSITOR, THE CERTIFICATE ADMINISTRATOR AND THE CERTIFICATE
REGISTRAR, TO THE EFFECT THAT THE PURCHASE AND HOLDING OF THE CERTIFICATES BY OR ON BEHALF OF A PLAN WILL NOT CONSTITUTE OR RESULT
IN A NON-EXEMPT PROHIBITED TRANSACTION WITHIN THE MEANING OF SECTION 406 OR 407 OF ERISA OR CODE SECTION 4975 (OR SIMILAR VIOLATION
OF SIMILAR LAW), AND WILL NOT SUBJECT THE MASTER SERVICER, THE SPECIAL SERVICER, THE DEPOSITOR, THE CERTIFICATE ADMINISTRATOR,
THE OPERATING ADVISOR, THE ASSET REPRESENTATIONS REVIEWER, THE TRUSTEE OR THE CERTIFICATE REGISTRAR TO ANY OBLIGATION OR LIABILITY.
THE TRANSFEREE OF A BENEFICIAL INTEREST IN A “GLOBAL CERTIFICATE” THAT IS A “RESTRICTED CERTIFICATE” (EACH
AS DEFINED IN THE POOLING AND SERVICING AGREEMENT) SHALL BE DEEMED TO REPRESENT THAT IT IS NOT A PLAN OR A PERSON ACTING ON BEHALF
OF ANY PLAN OR USING THE ASSETS OF ANY PLAN TO ACQUIRE SUCH INTEREST, OTHER THAN AN INSURANCE COMPANY USING THE ASSETS OF ITS GENERAL
ACCOUNT UNDER CIRCUMSTANCES WHEREBY SUCH PURCHASE AND THE SUBSEQUENT HOLDING OF SUCH CERTIFICATE BY SUCH INSURANCE COMPANY WOULD
BE EXEMPT FROM THE PROHIBITED TRANSACTION PROVISIONS OF SECTIONS 406 AND 407 OF ERISA, AND CODE SECTION 4975


 






     A-11-3


    	 



    




 


UNDER SECTIONS I AND
III OF PTCE 95-60, OR A SUBSTANTIALLY SIMILAR EXEMPTION UNDER SIMILAR LAW.


 


FOR U.S. FEDERAL INCOME TAX PURPOSES,
THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN CODE SECTIONS 860G(a)(1) AND 860D.


 


[THIS CERTIFICATE HAS NOT BEEN AND
WILL NOT BE REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT AND, PRIOR TO THE DATE THAT IS 40 DAYS AFTER THE OFFERING OF THE
CERTIFICATES, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED IN THE UNITED STATES OR TO A U.S. PERSON EXCEPT PURSUANT
TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.]4 


 





 






4
For Reg S Global Certificates only.


 






     A-11-4


    	 



    

 


 


DBJPM 2016-C1 MORTGAGE TRUST COMMERCIAL
MORTGAGE

PASS-THROUGH CERTIFICATES, CLASS E


 


	Class E Pass-Through Rate: 3.250%	 	
        CUSIP:   23312LAH15

        U2401LAH46

        23312LBE77

         

        ISIN:      US23312LAH158

USU2401LAH439

US23312LBE7410

         

	Original Aggregate Certificate Balance of the Class E Certificates: $17,384,000	 	Initial Certificate Balance of this Certificate: $[_____]
	 	 	 
	First Distribution Date: May 12, 2016	 	Cut-off Date: The close of business on the later of the related due date for each Mortgage Loan in April 2016 and the date of origination of such Mortgage Loan
	 	 	 
	Assumed Final Distribution Date: April 2026	 	No.: E-[__]





 


This certifies that
[               ] is the registered owner of
a beneficial ownership interest in a Trust Fund, including the distributions to be made with respect to the Class E Certificates.
The Trust Fund, described more fully below, consists primarily of a pool of Mortgage Loans secured by first liens on commercial,
multifamily and manufactured housing community properties and held in trust by the Trustee and serviced by the Master Servicer.
The Trust Fund was created, and the Mortgage Loans are to be serviced, pursuant to the Pooling and Servicing Agreement (as defined
below). The Holder of this Certificate, by virtue of the acceptance hereof, assents to the terms, provisions and conditions of
the Pooling and Servicing Agreement and is bound thereby.


 


The Pooling and Servicing
Agreement, dated as of April 1, 2016 (the “Pooling and Servicing Agreement”), between the Depositor, Wells Fargo
Bank, National Association, as master servicer (in such capacity, the “Master Servicer”), Midland Loan Services,
a Division of PNC Bank, National Association, as special servicer (the “Special Servicer”), Wilmington Trust,
National Association, as trustee (the “Trustee”), Wells Fargo Bank, National Association, as certificate administrator
(in such capacity, the “Certificate Administrator”), paying agent and custodian, Park Bridge Lender Services
LLC, as operating advisor (in such capacity, the





 





 






5
For Rule 144A Certificates 


6
For Regulation S Certificates 


7
For IAI Certificates 


8
For Rule 144A Certificates 


9
For Regulation S Certificates 


10
For IAI Certificates


 






     A-11-5


    	 



    




 


“Operating Advisor”), and Park Bridge Lender Services
LLC, as asset representations reviewer (in such capacity, the “Asset Representations Reviewer”) evidences
the issuance of the Class A-1, Class A-2, Class A-SB, Class A-3A, Class A-4, Class X-A, Class A-M, Class B, Class C, Class A-3B,
Class X-B, Class X-C, Class X-D, Class X-E, Class X-F, Class D, Class E, Class F, Class G, Class H and Class R Certificates (the
“Certificates”; the Holders of Certificates issued under the Pooling and Servicing Agreement are collectively
referred to herein as “Certificateholders”). This Certificate is issued pursuant to, and in accordance with,
the terms of the Pooling and Servicing Agreement. To the extent not defined herein, capitalized terms used herein shall have the
meanings assigned thereto in the Pooling and Servicing Agreement.


 


This Certificate represents
a “regular interest” in a “real estate mortgage investment conduit”, as those terms are defined, respectively,
in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this Certificate, by acceptance
hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in accordance with the preceding
sentence for purposes of federal income taxes, state and local income and franchise taxes and other taxes imposed on or measured
by income.


 


The Certificate Administrator
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Mortgage Loans and has executed this Certificate in its limited capacity as Certificate Administrator under the Pooling
and Servicing Agreement. In the event that there is any conflict between any provision of this Certificate and any provision of
the Pooling and Servicing Agreement, such provision of this Certificate shall be superseded to the extent of such inconsistency.


 


Pursuant to the terms
of the Pooling and Servicing Agreement, the Certificate Administrator, or the Paying Agent on behalf of the Certificate Administrator,
will distribute (other than the final distribution on any Certificate), on the fourth Business Day after each Determination Date
(each such date, a “Distribution Date”) an amount equal to such Person’s pro rata share (based on the
Percentage Interest represented by this Certificate) of that portion of the aggregate amount of principal and interest then distributable,
if any, allocable to the Class E Certificates for such Distribution Date, all as more fully described in the Pooling and Servicing
Agreement. “Determination Date” is defined in the Pooling and Servicing Agreement as the sixth day of each month, or
if such sixth day is not a Business Day, then the next Business Day, commencing in May 2016.


 


During each Interest
Accrual Period (as defined below), interest on the Class E Certificates will be calculated based on a 360-day year consisting of
twelve 30-day months on the outstanding Certificate Balance hereof.


 


Interest accrued on this
Certificate during an Interest Accrual Period, plus the aggregate unpaid Interest Shortfall with respect to this Certificate, if
any, will be payable on the related Distribution Date to the extent provided in the Pooling and Servicing Agreement. The “Interest
Accrual Period” means, with respect to any Distribution Date, the calendar month immediately preceding the month in which
such Distribution Date occurs. Each Interest Accrual Period is assumed to consist of 30 days.


 






     A-11-6


    	 



    




 


All distributions (other
than the final distribution on any Certificate) will be made by the Paying Agent to the Persons in whose names the Certificates
are registered at the close of business on each Record Date, which will be the close of business on the last Business Day of the
calendar month preceding the month in which such Distribution Date occurs. Such distributions shall be made on each Distribution
Date other than the Termination Date to each Certificateholder of record on the related Record Date, (i) by wire transfer of immediately
available funds to the account of such Holder at a bank or other entity located in the United States and having appropriate facilities
therefor if such Holder shall have provided the Paying Agent with wire instructions in writing at least five Business Days prior
to the related Record Date (which wiring instructions may be in the form of a standing order applicable to all subsequent distributions),
or (ii) otherwise, by check mailed by first-class mail to the address set forth therefor in the Certificate Register. The final
distribution on each Certificate shall be made in like manner, but only upon presentment and surrender of such Certificate at the
office of the Certificate Administrator or its agent (which may be the Paying Agent or the Certificate Registrar acting as such
agent) that is specified in the notice to Holders of such final distribution.


 


Any funds not distributed
on the Termination Date because of the failure of any Certificateholders to tender their Certificates shall, on such date, be set
aside and held for the benefit of the appropriate non-tendering Certificateholders. If any Certificates as to which notice of the
Termination Date has been given pursuant to the Pooling and Servicing Agreement shall not have been surrendered for cancellation
within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders to surrender their Certificates for cancellation to receive the final distribution with respect
thereto. If within one year after the second notice not all of such Certificates shall have been surrendered for cancellation,
the Certificate Administrator may, directly or through an agent, take appropriate steps to contact the remaining non-tendering
Certificateholders concerning surrender of their Certificates. The costs and expenses of holding such funds in trust and of contacting
such Certificateholders shall be paid out of such funds. Subject to applicable state escheatment laws, if within two years after
the second notice any such Certificates shall not have been surrendered for cancellation, the Paying Agent shall distribute to
the Certificate Administrator all amounts distributable to the Holders thereof, and the Certificate Administrator shall thereafter
hold such amounts for the benefit of such Holders until the earlier of (i) its termination as Certificate Administrator under the
Pooling and Servicing Agreement and the transfer of such amounts to a successor Certificate Administrator and (ii) the termination
of the Trust Fund and distribution of such amounts to the Class R Certificateholders. No interest shall accrue or be payable to
any Certificateholder on any amount held under the Pooling and Servicing Agreement or by the Certificate Administrator as a result
of such Certificateholder’s failure to surrender its Certificate(s) for final payment thereof in accordance with the Pooling
and Servicing Agreement. Any such amounts transferred to the Certificate Administrator may be invested in Permitted Investments
and all income and gain realized from investment of such funds shall accrue for its benefit.


 


This Certificate is limited
in right of payment to, among other things, certain collections and recoveries in respect of the Mortgage Loans, as more specifically
set forth herein and in the Pooling and Servicing Agreement.


 






     A-11-7


    	 



    




 


As provided in the Pooling
and Servicing Agreement, the Trust Fund includes (in each case, to the extent of the Trust Fund’s interest therein and specifically
excluding any interest of any Serviced Companion Loan Noteholder therein): (i) such Mortgage Loans as from time to time are subject
to the Pooling and Servicing Agreement, together with the Mortgage Files relating thereto; (ii) all scheduled or unscheduled payments
on or collections in respect of the Mortgage Loans due after the Cut-off Date; (iii) the Trust Fund’s interest in any REO
Property; (iv) all revenues received in respect of any REO Property; (v) any Assignments of Leases, Rents and Profits and any security
agreements related to the Mortgage Loans; (vi) any indemnities or guaranties given as additional security for any Mortgage Loans;
(vii) a security interest in all assets deposited in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts, and Reserve
Accounts; (viii) the Loss of Value Reserve Fund; (ix) the Collection Account, the Serviced Whole Loan Collection Accounts, the
Distribution Accounts, any Gain-on-Sale Reserve Account, the Interest Reserve Account, and the Trust’s interest in any REO
Account, including any amounts on deposit therein, assets credited thereto and any reinvestment income, as applicable; (x) a security
interest in any environmental indemnity agreements relating to the Mortgaged Properties; (xi) a security interest in all insurance
policies with respect to the Mortgage Loans and the Mortgaged Properties; (xii) the rights and remedies under the Mortgage Loan
Purchase Agreements relating to document delivery requirements with respect to the Mortgage Loans and the representations and warranties
of the related Mortgage Loan Seller regarding its Mortgage Loans; (xiii) the Lower-Tier Regular Interests and (xiv) the proceeds
of the foregoing (other than any interest earned on deposits in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts
and any Reserve Accounts, to the extent such interest belongs to the related Borrower). As provided in the Pooling and Servicing
Agreement, withdrawals may be made from certain of the above accounts for purposes other than distributions to Certificateholders.


 


This Certificate does
not purport to summarize the Pooling and Servicing Agreement, and reference is made to the Pooling and Servicing Agreement for
the interests, rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and
immunities of the Certificate Administrator.


 


As provided in the Pooling
and Servicing Agreement and subject to certain limitations set forth therein, this Certificate is transferable or exchangeable
only upon surrender of this Certificate to the Certificate Registrar at its offices together with an assignment and transfer (executed
by the Holder or his duly authorized attorney), subject to the requirements in Article V of the Pooling and Servicing Agreement.
Upon surrender for registration of transfer of this Certificate, subject to the requirements Article V of the Pooling and Servicing
Agreement, the Certificate Administrator shall execute and the Authenticating Agent shall duly authenticate in the name of the
designated transferee or transferees, one or more new Certificates in authorized denominations of a like aggregate denomination
as the Certificate being surrendered. Such Certificates shall be delivered by the Certificate Registrar in accordance with Article
V of the Pooling and Servicing Agreement.


 


Prior to due presentation
of this Certificate for registration of transfer, the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor,
the Asset Representations Reviewer, the Certificate Administrator, the Trustee, the Certificate Registrar, any Paying Agent and
any agent of any of them may treat the Person in whose name this


 






     A-11-8


    	 



    




 


Certificate is registered as the owner hereof for all purposes,
and none of the Depositor, the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Certificate
Registrar, any Paying Agent or any agent of any of them shall be affected by notice or knowledge to the contrary.


 


No fee or service charge
shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer or exchange referred
to in Section 5.02 of the Pooling and Servicing Agreement other than for transfers to Institutional Accredited Investors as provided
in Section 5.02(h) of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional Accredited Investor,
the transferor shall reimburse the Trust Fund for any costs (including the cost of the Certificate Registrar’s counsel’s
review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar as provided
in the Pooling and Servicing Agreement) incurred by the Certificate Registrar in connection with such transfer. The Certificate
Registrar may require payment by each transferor of a sum sufficient to cover any tax, expense or other governmental charge payable
in connection with any such transfer.


 


The Pooling and Servicing
Agreement or any Custodial Agreement may be amended at any time by the Depositor, the Master Servicer, the Special Servicer, the
Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer and the Trustee without the consent of any
of the Certificateholders or any Serviced Companion Loan Noteholders, (i) to cure any ambiguity or to correct any manifest error;
(ii) to cause the provisions of the Pooling and Servicing Agreement or any Custodial Agreement to conform or be consistent with
or in furtherance of the statements made in the Prospectus or Private Placement Memorandum with respect to the Certificates, the
Trust or the Pooling and Servicing Agreement or to correct or supplement any provisions of the Pooling and Servicing Agreement
or any Custodial Agreement which may be defective or inconsistent with any other provisions of the Pooling and Servicing Agreement
or any Custodial Agreement; (iii) to change the timing and/or nature of deposits in the Collection Account, the Distribution Accounts
or any REO Account; provided that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior
to the related Distribution Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder,
as evidenced in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating
Agency Confirmation from each Rating Agency with respect to such amendment; (iv) to modify, eliminate or add to any of its provisions
to such extent as shall be necessary to maintain the qualification of any Trust REMIC as a REMIC under the relevant provisions
of the Code at all times that any Certificate is outstanding, or to avoid or minimize the risk of imposition of any tax on the
Trust Fund or any Trust REMIC that would be a claim against the Trust Fund or any Trust REMIC; provided that the Trustee
and the Certificate Administrator have received an Opinion of Counsel (at the expense of the party requesting such amendment) to
the effect that (a) such action is necessary or desirable to maintain such qualification or to avoid or minimize the risk of the
imposition of any such tax and (b) such action will not adversely affect in any material respect the interests of any Certificateholder
or Companion Loan Noteholder; (v) to modify, eliminate or add to the provisions any provision hereof restricting transfer of the
Class R Certificates; provided the Depositor has determined that such change shall not, as evidenced by an Opinion of Counsel,
cause the Trust Fund, any Trust REMIC or any of the Certificateholders (other than the Transferor) to be subject to a federal tax
caused by a Transfer to a Person that is a


 






     A-11-9


    	 



    




 


Disqualified Organization or a Non-U.S. Tax Person; (vi) to revise or add any other
provisions with respect to matters or questions arising under this Agreement or any other change; provided that the required
action shall not adversely affect in any material respect the interests of any Certificateholder or any holder of a Serviced Pari
Passu Companion Loan not consenting thereto as evidenced in writing by an Opinion of Counsel, at the expense of the party requesting
such amendment or as evidenced by a Rating Agency Confirmation from each of the Rating Agencies with respect to such amendment
or supplement and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating
agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied
with respect to the Certificates); (vii) to amend or supplement any provision hereof to the extent necessary to maintain the then-current
ratings assigned to each Class of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of
the Rating Agencies and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating
agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied
with respect to the Certificates); provided that such amendment or supplement shall not adversely affect in any material
respect the interests of any Certificateholder not consenting thereto as evidenced by an Opinion of Counsel; (viii) to modify the
provisions of Section 3.06 and Section 3.17 of the Pooling and Servicing Agreement (with respect to reimbursement
of Nonrecoverable Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and,
for so long as a Control Termination Event has not occurred and is not continuing, the Directing Certificateholder, determine that
the commercial mortgage backed securities industry standard for such provisions has changed, in order to conform to such industry
standard, (b) such modification does not adversely affect the status of any Trust REMIC as a REMIC under the relevant provisions
of the Code, as evidenced by an Opinion of Counsel and (c) each Rating Agency has delivered a Rating Agency Confirmation and, with
regard to any class of Serviced Companion Loan Securities, the applicable rating agencies have delivered a confirmation that such
action will not result in the downgrade, withdrawal or qualification of its then-current ratings (provided that such rating
agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied
with respect to the Certificates); (ix) to modify the procedures of this Agreement relating to compliance with Rule 17g-5 of the
Exchange Act; provided that such amendment shall not adversely affect in any material respects the interests of any Certificateholders,
as evidenced by (x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation from each
Rating Agency rating such Certificates; and provided, further, that the Certificate Administrator shall give notice
of any such amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website and the Certificate
Administrator shall post such notice to the Certificate Administrator’s Website; and (x) to modify, eliminate or add to any
provisions of the Pooling and Servicing Agreement to such extent as would be necessary to comply with the requirements for use
of Form SF-3 in registered offerings to the extent provided in CFR 239.45(b)(1)(ii), (iii) or (iv).


 


The Pooling and Servicing
Agreement or any Custodial Agreement may also be amended from time to time by the Depositor, the Master Servicer, the Special Servicer,
the Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer and the


 






     A-11-10


    	 



    




 


Trustee with the prior written
consent of the Holders of Certificates representing not less than a majority of the Percentage Interests of each Class of Certificates
affected thereby (without regard to Certificates held by the Depositor, any of the Depositor’s Affiliates and/or agents)
and each Serviced Companion Loan Noteholder affected thereby for the purpose of adding any provisions to or changing in any manner
or eliminating any of the provisions of the Pooling and Servicing Agreement or modifying in any manner the rights of the Certificateholders
or the Serviced Companion Loan Noteholders; provided, that no such amendment may:


 


		(i)	reduce in any manner the amount of, or delay the timing
of, payments received on the Mortgage Loans or Subordinate Companion Loan which are required to be distributed on any Certificate,
without the consent of the Holders of Certificates representing all of the Percentage Interests of the Class or Classes affected
thereby or which are required to be distributed to any Companion Loan Noteholders without the consent of such Companion Loan Noteholders;



		 	 



		(ii)	reduce the aforesaid percentage of Certificates of any
Class the Holders of which are required to consent to any such amendment or remove the requirement to obtain consent of any Companion
Loan Noteholder, in any such case without the consent of the Holders of all Certificates of such Class then-outstanding or such
Companion Loan Noteholder, as applicable;



		 	 



		(iii)	adversely affect the Voting Rights of any Class of Certificates
without the consent of the Holders of all Certificates of such Class then outstanding;



		 	 



		(iv)	change in any manner any defined term used in any Mortgage
Loan Purchase Agreement or the obligations of any Mortgage Loan Seller under such Mortgage Loan Purchase Agreement or otherwise
or change any rights of any Mortgage Loan Seller as a third party beneficiary hereunder, without the consent of such Mortgage
Loan Seller; or



		 	 



		(v)	amend the Servicing Standard without the consent of 100%
of the Certificateholders or receipt of Rating Agency Confirmation from each Rating Agency and confirmation of the applicable
rating agencies that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of
any securities related to a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied
in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates).



 


Further, the Depositor,
the Master Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer
and the Trustee, at any time and from time to time, without the consent of the Certificateholders or, if applicable, the Serviced
Companion Loan Noteholders, may amend the Pooling and Servicing Agreement to modify, eliminate or add to any of its provisions
(i) to such extent as shall be necessary to maintain the qualification of the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC,
or


 






     A-11-11


    	 



    




 


to prevent the imposition of any additional material state or local taxes, at all times that any Certificates are outstanding;
provided that such action, as evidenced by an Opinion of Counsel (obtained at the expense of the Trust Fund), is
necessary or helpful to maintain such qualification or to prevent the imposition of any such taxes, and would not adversely affect
in any material respect the interest of any Certificateholder or if applicable, any Serviced Companion Loan Noteholder or (ii)
to the extent necessary to comply with the Investment Company Act of 1940, as amended, the Exchange Act, Regulation AB, and/or
any related regulatory actions and/or interpretations.


 


The Certificateholder
owning a majority of the Percentage Interest in the Controlling Class and, if no such Certificateholder exercises such option,
the Special Servicer, and if the Special Servicer does not exercise such option, the Master Servicer may effect an early termination
of the Trust Fund, upon not less than 30 days’ prior Notice of Termination given to the Trustee, the Special Servicer and
the Master Servicer any time specifying the Anticipated Termination Date, which shall be on or after the Early Termination Notice
Date (defined as any date as of which the aggregate Stated Principal Balance of the Mortgage Loans remaining in the Trust is less
than 1.0% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date) by purchasing on such date all,
but not less than all, of the Mortgage Loans then included in the Trust Fund, and the Trust’s interest in all property acquired
in respect of any Mortgage Loan, at a purchase price, payable in cash, equal to the sum of, without duplication:


 


		(A)	100% of the Stated Principal Balance of each Mortgage Loan included in the Trust as of the last
day of the month preceding such Anticipated Termination Date (less any P&I Advances previously made on account of principal);



 


		(B)	the fair market value of all other property included in the Trust Fund as of the last day of the
month preceding such Anticipated Termination Date, as determined by an Independent appraiser acceptable to the Master Servicer
as of a date not more than 30 days prior to the last day of the month preceding such Distribution Date;



 


		(C)	all unpaid interest accrued on the unpaid balance of each Mortgage Loan (including any Mortgage
Loan as to which title to the related Mortgaged Property has been acquired) at the Mortgage Rate to the last day of the month preceding
such Anticipated Termination Date (less any P&I Advances previously made on account of interest); and



 


		(D)	the aggregate amount of unreimbursed
                                         Advances, with interest thereon at the Reimbursement Rate, and unpaid Servicing Compensation,
                                         Special Servicing Compensation, Operating Advisor Fees, Certificate Administrator/Trustee
                                         Fees, the CREFC® Intellectual Property Royalty License Fees and Trust
                                         Fund expenses.



 






     A-11-12


    	 



    




 


In addition, the Pooling
and Servicing Agreement provides that following the date on which the Class X-A Notional Amount, the Class X-B Notional Amount,
the Class X-C Notional Amount and the aggregate Certificate Balance of the Class A-1, Class A-2, Class A-SB, Class A-3A, Class
A-3B, Class A-4, Class A-M, Class B, Class C and Class D Certificates is reduced to zero, the Sole Certificateholder shall have
the right to exchange all of the then-outstanding Certificates (other than (i) the Class X-D, Class X-E Certificates and Class
X-F Certificates if the Sole Certificateholder has only taken an assignment of the Voting Rights of the Class X-D, Class X-E Certificates
and Class X-F Certificates pursuant to the definition of “Sole Certificateholder” and (ii) the Class R Certificates)
for all of the Mortgage Loans and each REO Property remaining in the Trust Fund as contemplated by clause (ii) of Section 9.01(a)
of the Pooling and Servicing Agreement by giving written notice to all the parties to the Pooling and Servicing Agreement no later
than 60 days prior to the anticipated date of exchange.


 


All costs and expenses
incurred by any and all parties to the Pooling and Servicing Agreement or by the Trust Fund in connection with the purchase of
the Mortgage Loans and the other assets of the Trust Fund pursuant to Section 9.01(c) of the Pooling and Servicing Agreement shall
be borne by the party exercising its purchase rights thereunder. The Trustee and the Certificate Administrator shall be entitled
to rely conclusively on any determination made by an Independent appraiser pursuant to Section 9.01(c) of the Pooling and Servicing
Agreement.


 


The respective obligations
and responsibilities of the Master Servicer, the Special Servicer, the Depositor, the Certificate Administrator, the Operating
Advisor, the Asset Representations Reviewer and the Trustee created by the Pooling and Servicing Agreement with respect to the
Certificates (other than the obligations of the Certificate Administrator to make certain payments and to send certain notices
to Certificateholders as set forth in the Pooling and Servicing Agreement) shall terminate upon payment (or provision for payment)
to the Certificateholders and the Serviced Companion Loan Noteholders of all amounts held by or on behalf of the Trustee, the
Certificate Administrator and the Master Servicer, as the case may be, required under the Pooling and Servicing Agreement to be
so paid on the Distribution Date following the earlier to occur of (i) the purchase of the Mortgage Loans and all other property
held by the Trust Fund in accordance with Section 9.01(c) of the Pooling and Servicing Agreement; (ii) the exchange by the Sole
Certificateholder of its Certificates for the Mortgage Loans in accordance with Section 9.01(g) of the Pooling and Servicing Agreement;
and (iii) the later of (a) the receipt or collection of the last payment due on any Mortgage Loan included in the Trust Fund,
or (b) the liquidation and disposition pursuant to the Pooling and Servicing Agreement of the last asset held by the Trust Fund;
provided that in no event shall the trust created by the Pooling and Servicing Agreement continue beyond the expiration
of 21 years from the death of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States
to the United Kingdom, living on the date hereof.


 


Unless the Certificate
of Authentication on this Certificate has been executed by the Authenticating Agent, by manual signature, this Certificate shall
not be entitled to any benefit under the Pooling and Servicing Agreement or be valid for any purpose.


 






     A-11-13


    	 



    




 


IN WITNESS WHEREOF, the
Certificate Administrator has caused this Class E Certificate to be duly executed.


 


Dated: April __, 2016


 





	 	WELLS FARGO
BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Certificate Administrator
	 	 
	 	By:	 
	 	 	Authorized Signatory


   


Certificate of Authentication


 


This is one of the Class
E Certificates referred to in the Pooling and Servicing Agreement.


 


Dated: April __, 2016


 


	 	WELLS FARGO
BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Authenticating Agent
	 	 
	 	By:	 
	 	 	Authorized Signatory





 






     A-11-14


    	 



    




 


EXHIBIT A-12


 


FORM OF CLASS F [RULE 144A]1
[REG S]2
CERTIFICATE


 


[UNLESS THIS CERTIFICATE IS PRESENTED
BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE
REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &
CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]3


 


THIS CERTIFICATE HAS NOT BEEN AND WILL
NOT BE REGISTERED OR QUALIFIED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR
ANY STATE OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED,
RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY IN COMPLIANCE WITH THE SECURITIES ACT AND OTHER APPLICABLE LAWS, AND ONLY (A)(1)
PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (2) FOR SO LONG AS THIS CERTIFICATE
IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”), TO AN INSTITUTIONAL INVESTOR
THAT THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING OF RULE 144A (“QUALIFIED
INSTITUTIONAL BUYER”), PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF ANOTHER QUALIFIED INSTITUTIONAL BUYER, WHOM
THE HOLDER HAS INFORMED, IN EACH CASE, THAT THE REOFFER, RESALE, PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A,
(3) TO AN INSTITUTIONAL “ACCREDITED INVESTOR,” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION
D UNDER THE SECURITIES ACT OR ANY ENTITY IN WHICH ALL OF THE EQUITY OWNERS ARE SUCH ACCREDITED INVESTORS, OR (4) TO INSTITUTIONS
THAT ARE A NON-”U.S. PERSON” IN AN “OFFSHORE TRANSACTION,” AS SUCH TERMS ARE DEFINED IN, AND IN ACCORDANCE
WITH RULE 903 OR RULE 904 OF, REGULATION S UNDER THE SECURITIES ACT, AND (B) IN ACCORDANCE WITH ANY OTHER APPLICABLE SECURITIES
LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION. 


 


 






1 For
Rule 144A Global Certificates only. 


2
For Reg S Global Certificates only. 


3
Legend required as long as DTC is the Depository under the Pooling and Servicing Agreement.




 


 






     A-12-1


    	 



    

  


THE INITIAL INVESTOR IN THIS CERTIFICATE,
AND EACH SUBSEQUENT PURCHASER OF THIS CERTIFICATE, BY PURCHASING THIS CERTIFICATE OR AN INTEREST HEREIN, IS DEEMED TO HAVE AGREED
TO COMPLY WITH CERTAIN TRANSFER REQUIREMENTS SET FORTH IN THE POOLING AND SERVICING AGREEMENT. A TRANSFEREE IS ALSO REQUIRED TO
DELIVER AN INVESTMENT REPRESENTATION LETTER SUBSTANTIALLY IN THE FORM OF EXHIBIT D-1 TO THE POOLING AND SERVICING AGREEMENT IF
SUCH TRANSFEREE IS A QUALIFIED INSTITUTIONAL BUYER OR (OTHER THAN WITH RESPECT TO A RESIDUAL CERTIFICATE) AN INSTITUTIONAL ACCREDITED
INVESTOR, AND MAY ALSO BE REQUIRED TO DELIVER AN OPINION OF COUNSEL IF SUCH TRANSFEREE IS NOT A QUALIFIED INSTITUTIONAL BUYER WITHIN
THE MEANING OF RULE 144A.


 


ANY HOLDER DESIRING TO EFFECT A TRANSFER
OF THIS CERTIFICATE SHALL, AND DOES HEREBY AGREE TO, INDEMNIFY THE CERTIFICATE REGISTRAR, THE CERTIFICATE ADMINISTRATOR, THE TRUSTEE,
THE MASTER SERVICER AND THE DEPOSITOR AGAINST ANY LOSS, LIABILITY OR EXPENSE THAT MAY RESULT IF THE TRANSFER IS NOT EXEMPT FROM
THE SECURITIES ACT OR IS NOT MADE IN ACCORDANCE WITH FEDERAL AND STATE LAWS.


 


THIS CERTIFICATE DOES NOT REPRESENT
AN OBLIGATION OF OR INTEREST IN THE DEPOSITOR, THE ORIGINATOR, THE MASTER SERVICER, THE SPECIAL SERVICER, THE CERTIFICATE ADMINISTRATOR,
THE CERTIFICATE REGISTRAR, THE OPERATING ADVISOR, THE ASSET REPRESENTATIONS REVIEWER, THE TRUSTEE OR ANY OF THEIR RESPECTIVE AFFILIATES.
NEITHER THE CERTIFICATES NOR THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY.


 


PRINCIPAL PAYMENTS ON THIS CERTIFICATE
ARE PAYABLE IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE BALANCE OF THIS CERTIFICATE AT ANY TIME
MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.


 


TRANSFERS AND EXCHANGES OF PORTIONS
OF THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS AS PROVIDED IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.


 


THIS CERTIFICATE IS SUBORDINATE TO ONE
OR MORE OTHER CLASSES OF CERTIFICATES AS AND TO THE EXTENT SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.


 


THIS CERTIFICATE SHOULD NOT BE PURCHASED
BY A TRANSFEREE THAT IS (A) AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT ARRANGEMENT, INCLUDING AN INDIVIDUAL RETIREMENT ACCOUNT
OR A KEOGH PLAN, WHICH IS SUBJECT TO THE EMPLOYEE RETIREMENT INCOME SECURITY ACT


 






     A-12-2


    	 



    




 


OF 1974, AS AMENDED (“ERISA”),
OR SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”) OR A GOVERNMENTAL PLAN, AS DEFINED
IN SECTION 3(32) OF ERISA, OR OTHER PLAN SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW (“SIMILAR LAW”) WHICH IS
TO A MATERIAL EXTENT SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE (EACH, A “PLAN”), OR (B) A COLLECTIVE
INVESTMENT FUND WHOSE UNDERLYING ASSETS INCLUDE PLAN ASSETS BY REASON OF A PLAN’S INVESTMENT IN THE COLLECTIVE INVESTMENT
FUND (PURSUANT TO U.S. DEPARTMENT OF LABOR REGULATION SECTION 2510.3-101, AS MODIFIED BY SECTION 3(42) OF ERISA), AN INSURANCE
COMPANY USING ASSETS OF SEPARATE ACCOUNTS OR GENERAL ACCOUNTS WHICH INCLUDE ASSETS OF PLANS (OR WHICH ARE DEEMED PURSUANT TO ERISA
OR ANY SIMILAR LAW TO INCLUDE ASSETS OF PLANS) OR OTHER PERSON ACTING ON BEHALF OF ANY SUCH PLAN OR USING THE ASSETS OF ANY SUCH
PLAN, OTHER THAN AN INSURANCE COMPANY USING THE ASSETS OF ITS GENERAL ACCOUNT UNDER CIRCUMSTANCES WHEREBY SUCH PURCHASE AND THE
SUBSEQUENT HOLDING OF SUCH CERTIFICATE BY SUCH INSURANCE COMPANY WOULD BE EXEMPT FROM THE PROHIBITED TRANSACTION PROVISIONS OF
SECTIONS 406 AND 407 OF ERISA, AND CODE SECTION 4975 UNDER SECTIONS I AND III OF PTCE 95-60 OR A SUBSTANTIALLY SIMILAR EXEMPTION
UNDER SIMILAR LAW. TRANSFEREES OF THIS CERTIFICATE TAKING DELIVERY IN CERTIFICATED FORM SHALL BE REQUIRED EITHER (i) TO DELIVER
A LETTER IN THE FORM ATTACHED TO THE POOLING AND SERVICING AGREEMENT TO SUCH EFFECT, OR (ii) IF THE TRANSFEREE IS SUCH AN ENTITY
SPECIFIED IN (A) OR (B) ABOVE, SUCH ENTITY SHALL PROVIDE ANY OPINIONS OF COUNSEL, OFFICERS’ CERTIFICATES OR AGREEMENTS AS
MAY BE REQUIRED BY, AND IN FORM AND SUBSTANCE SATISFACTORY TO, THE DEPOSITOR, THE CERTIFICATE ADMINISTRATOR AND THE CERTIFICATE
REGISTRAR, TO THE EFFECT THAT THE PURCHASE AND HOLDING OF THE CERTIFICATES BY OR ON BEHALF OF A PLAN WILL NOT CONSTITUTE OR RESULT
IN A NON-EXEMPT PROHIBITED TRANSACTION WITHIN THE MEANING OF SECTION 406 OR 407 OF ERISA OR CODE SECTION 4975 (OR SIMILAR VIOLATION
OF SIMILAR LAW), AND WILL NOT SUBJECT THE MASTER SERVICER, THE SPECIAL SERVICER, THE DEPOSITOR, THE CERTIFICATE ADMINISTRATOR,
THE OPERATING ADVISOR, THE ASSET REPRESENTATIONS REVIEWER, THE TRUSTEE OR THE CERTIFICATE REGISTRAR TO ANY OBLIGATION OR LIABILITY.
THE TRANSFEREE OF A BENEFICIAL INTEREST IN A “GLOBAL CERTIFICATE” THAT IS A “RESTRICTED CERTIFICATE” (EACH
AS DEFINED IN THE POOLING AND SERVICING AGREEMENT) SHALL BE DEEMED TO REPRESENT THAT IT IS NOT A PLAN OR A PERSON ACTING ON BEHALF
OF ANY PLAN OR USING THE ASSETS OF ANY PLAN TO ACQUIRE SUCH INTEREST, OTHER THAN AN INSURANCE COMPANY USING THE ASSETS OF ITS GENERAL
ACCOUNT UNDER CIRCUMSTANCES WHEREBY SUCH PURCHASE AND THE SUBSEQUENT HOLDING OF SUCH CERTIFICATE BY SUCH INSURANCE COMPANY WOULD
BE EXEMPT FROM THE PROHIBITED TRANSACTION PROVISIONS OF SECTIONS 406 AND 407 OF ERISA, AND CODE SECTION 4975


 






     A-12-3


    	 



    




 


UNDER SECTIONS I AND
III OF PTCE 95-60, OR A SUBSTANTIALLY SIMILAR EXEMPTION UNDER SIMILAR LAW.


 


FOR U.S. FEDERAL INCOME TAX PURPOSES,
THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN CODE SECTIONS 860G(a)(1) AND 860D.


 


[THIS CERTIFICATE HAS NOT BEEN AND WILL
NOT BE REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT AND, PRIOR TO THE DATE THAT IS 40 DAYS AFTER THE OFFERING OF THE CERTIFICATES,
MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED IN THE UNITED STATES OR TO A U.S. PERSON EXCEPT PURSUANT TO AN EXEMPTION
FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.]4


 





 






4
For Reg S Global Certificates only.


 






     A-12-4


    	 



    

  


DBJPM 2016-C1 MORTGAGE TRUST COMMERCIAL
MORTGAGE

PASS-THROUGH CERTIFICATES, CLASS F


 


	Class F Pass-Through Rate: 3.250%	 	
        CUSIP:    23312LAJ75

U2401LAJ06

23312LBF47

         

        ISIN:      US23312LAJ708

        USU2401LAJ099

        US23312LBF4010

         

	Original Aggregate Certificate Balance of the Class F Certificates: $8,180,000	 	Initial Certificate Balance of this Certificate: $[_____]
	 	 	 
	First Distribution Date: May 12, 2016	 	Cut-off Date: The close of business on the later of the related due date for each Mortgage Loan in April 2016 and the date of origination of such Mortgage Loan
	 	 	 
	Assumed Final Distribution Date: April 2026	 	No.: F-[__]


  


This certifies that
[               ] is the registered owner of
a beneficial ownership interest in a Trust Fund, including the distributions to be made with respect to the Class F Certificates.
The Trust Fund, described more fully below, consists primarily of a pool of Mortgage Loans secured by first liens on commercial,
multifamily and manufactured housing community properties and held in trust by the Trustee and serviced by the Master Servicer.
The Trust Fund was created, and the Mortgage Loans are to be serviced, pursuant to the Pooling and Servicing Agreement (as defined
below). The Holder of this Certificate, by virtue of the acceptance hereof, assents to the terms, provisions and conditions of
the Pooling and Servicing Agreement and is bound thereby.


 


The Pooling and Servicing
Agreement, dated as of April 1, 2016 (the “Pooling and Servicing Agreement”), between the Depositor, Wells Fargo
Bank, National Association, as master servicer (in such capacity, the “Master Servicer”), Midland Loan Services,
a Division of PNC Bank, National Association, as special servicer (the “Special Servicer”), Wilmington Trust,
National Association, as trustee (the “Trustee”), Wells Fargo Bank, National Association, as certificate administrator
(in such capacity, the “Certificate Administrator”), paying agent and custodian, Park Bridge Lender Services
LLC, as operating advisor (in such capacity, the





 


 






5
For Rule 144A Certificates 


6
For Regulation S Certificates 


7
For IAI Certificates 


8
For Rule 144A Certificates 


9
For Regulation S Certificates 


10
For IAI Certificates


 






     A-12-5


    	 



    

 


“Operating Advisor”), and Park Bridge Lender Services
LLC, as asset representations reviewer (in such capacity, the “Asset Representations Reviewer”) evidences
the issuance of the Class A-1, Class A-2, Class A-SB, Class A-3A, Class A-4, Class X-A, Class A-M, Class B, Class C, Class A-3B,
Class X-B, Class X-C, Class X-D, Class X-E, Class X-F, Class D, Class E, Class F, Class G, Class H and Class R Certificates (the
“Certificates”; the Holders of Certificates issued under the Pooling and Servicing Agreement are collectively
referred to herein as “Certificateholders”). This Certificate is issued pursuant to, and in accordance with,
the terms of the Pooling and Servicing Agreement. To the extent not defined herein, capitalized terms used herein shall have the
meanings assigned thereto in the Pooling and Servicing Agreement.


 


This Certificate represents
a “regular interest” in a “real estate mortgage investment conduit”, as those terms are defined, respectively,
in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this Certificate, by acceptance
hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in accordance with the preceding
sentence for purposes of federal income taxes, state and local income and franchise taxes and other taxes imposed on or measured
by income.


 


The Certificate Administrator
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Mortgage Loans and has executed this Certificate in its limited capacity as Certificate Administrator under the Pooling
and Servicing Agreement. In the event that there is any conflict between any provision of this Certificate and any provision of
the Pooling and Servicing Agreement, such provision of this Certificate shall be superseded to the extent of such inconsistency.


 


Pursuant to the terms
of the Pooling and Servicing Agreement, the Certificate Administrator, or the Paying Agent on behalf of the Certificate Administrator,
will distribute (other than the final distribution on any Certificate), on the fourth Business Day after each Determination Date
(each such date, a “Distribution Date”) an amount equal to such Person’s pro rata share (based on the
Percentage Interest represented by this Certificate) of that portion of the aggregate amount of principal and interest then distributable,
if any, allocable to the Class F Certificates for such Distribution Date, all as more fully described in the Pooling and Servicing
Agreement. “Determination Date” is defined in the Pooling and Servicing Agreement as the sixth day of each month, or
if such sixth day is not a Business Day, then the next Business Day, commencing in May 2016.


 


During each Interest
Accrual Period (as defined below), interest on the Class F Certificates will be calculated based on a 360-day year consisting of
twelve 30-day months on the outstanding Certificate Balance hereof.


 


Interest accrued on this
Certificate during an Interest Accrual Period, plus the aggregate unpaid Interest Shortfall with respect to this Certificate, if
any, will be payable on the related Distribution Date to the extent provided in the Pooling and Servicing Agreement. The “Interest
Accrual Period” means, with respect to any Distribution Date, the calendar month immediately preceding the month in which
such Distribution Date occurs. Each Interest Accrual Period is assumed to consist of 30 days.


 






     A-12-6


    	 



    




 


All distributions (other
than the final distribution on any Certificate) will be made by the Paying Agent to the Persons in whose names the Certificates
are registered at the close of business on each Record Date, which will be the close of business on the last Business Day of the
calendar month preceding the month in which such Distribution Date occurs. Such distributions shall be made on each Distribution
Date other than the Termination Date to each Certificateholder of record on the related Record Date, (i) by wire transfer of immediately
available funds to the account of such Holder at a bank or other entity located in the United States and having appropriate facilities
therefor if such Holder shall have provided the Paying Agent with wire instructions in writing at least five Business Days prior
to the related Record Date (which wiring instructions may be in the form of a standing order applicable to all subsequent distributions),
or (ii) otherwise, by check mailed by first-class mail to the address set forth therefor in the Certificate Register. The final
distribution on each Certificate shall be made in like manner, but only upon presentment and surrender of such Certificate at the
office of the Certificate Administrator or its agent (which may be the Paying Agent or the Certificate Registrar acting as such
agent) that is specified in the notice to Holders of such final distribution.


 


Any funds not distributed
on the Termination Date because of the failure of any Certificateholders to tender their Certificates shall, on such date, be set
aside and held for the benefit of the appropriate non-tendering Certificateholders. If any Certificates as to which notice of the
Termination Date has been given pursuant to the Pooling and Servicing Agreement shall not have been surrendered for cancellation
within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders to surrender their Certificates for cancellation to receive the final distribution with respect
thereto. If within one year after the second notice not all of such Certificates shall have been surrendered for cancellation,
the Certificate Administrator may, directly or through an agent, take appropriate steps to contact the remaining non-tendering
Certificateholders concerning surrender of their Certificates. The costs and expenses of holding such funds in trust and of contacting
such Certificateholders shall be paid out of such funds. Subject to applicable state escheatment laws, if within two years after
the second notice any such Certificates shall not have been surrendered for cancellation, the Paying Agent shall distribute to
the Certificate Administrator all amounts distributable to the Holders thereof, and the Certificate Administrator shall thereafter
hold such amounts for the benefit of such Holders until the earlier of (i) its termination as Certificate Administrator under the
Pooling and Servicing Agreement and the transfer of such amounts to a successor Certificate Administrator and (ii) the termination
of the Trust Fund and distribution of such amounts to the Class R Certificateholders. No interest shall accrue or be payable to
any Certificateholder on any amount held under the Pooling and Servicing Agreement or by the Certificate Administrator as a result
of such Certificateholder’s failure to surrender its Certificate(s) for final payment thereof in accordance with the Pooling
and Servicing Agreement. Any such amounts transferred to the Certificate Administrator may be invested in Permitted Investments
and all income and gain realized from investment of such funds shall accrue for its benefit.


 


This Certificate is limited
in right of payment to, among other things, certain collections and recoveries in respect of the Mortgage Loans, as more specifically
set forth herein and in the Pooling and Servicing Agreement.


 






     A-12-7


    	 



    




 


As provided in the Pooling
and Servicing Agreement, the Trust Fund includes (in each case, to the extent of the Trust Fund’s interest therein and specifically
excluding any interest of any Serviced Companion Loan Noteholder therein): (i) such Mortgage Loans as from time to time are subject
to the Pooling and Servicing Agreement, together with the Mortgage Files relating thereto; (ii) all scheduled or unscheduled payments
on or collections in respect of the Mortgage Loans due after the Cut-off Date; (iii) the Trust Fund’s interest in any REO
Property; (iv) all revenues received in respect of any REO Property; (v) any Assignments of Leases, Rents and Profits and any security
agreements related to the Mortgage Loans; (vi) any indemnities or guaranties given as additional security for any Mortgage Loans;
(vii) a security interest in all assets deposited in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts, and Reserve
Accounts; (viii) the Loss of Value Reserve Fund; (ix) the Collection Account, the Serviced Whole Loan Collection Accounts, the
Distribution Accounts, any Gain-on-Sale Reserve Account, the Interest Reserve Account, and the Trust’s interest in any REO
Account, including any amounts on deposit therein, assets credited thereto and any reinvestment income, as applicable; (x) a security
interest in any environmental indemnity agreements relating to the Mortgaged Properties; (xi) a security interest in all insurance
policies with respect to the Mortgage Loans and the Mortgaged Properties; (xii) the rights and remedies under the Mortgage Loan
Purchase Agreements relating to document delivery requirements with respect to the Mortgage Loans and the representations and warranties
of the related Mortgage Loan Seller regarding its Mortgage Loans; (xiii) the Lower-Tier Regular Interests and (xiv) the proceeds
of the foregoing (other than any interest earned on deposits in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts
and any Reserve Accounts, to the extent such interest belongs to the related Borrower). As provided in the Pooling and Servicing
Agreement, withdrawals may be made from certain of the above accounts for purposes other than distributions to Certificateholders.


 


This Certificate does
not purport to summarize the Pooling and Servicing Agreement, and reference is made to the Pooling and Servicing Agreement for
the interests, rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and
immunities of the Certificate Administrator.


 


As provided in the Pooling
and Servicing Agreement and subject to certain limitations set forth therein, this Certificate is transferable or exchangeable
only upon surrender of this Certificate to the Certificate Registrar at its offices together with an assignment and transfer (executed
by the Holder or his duly authorized attorney), subject to the requirements in Article V of the Pooling and Servicing Agreement.
Upon surrender for registration of transfer of this Certificate, subject to the requirements Article V of the Pooling and Servicing
Agreement, the Certificate Administrator shall execute and the Authenticating Agent shall duly authenticate in the name of the
designated transferee or transferees, one or more new Certificates in authorized denominations of a like aggregate denomination
as the Certificate being surrendered. Such Certificates shall be delivered by the Certificate Registrar in accordance with Article
V of the Pooling and Servicing Agreement.


 


Prior to due presentation
of this Certificate for registration of transfer, the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor,
the Asset Representations Reviewer, the Certificate Administrator, the Trustee, the Certificate Registrar, any Paying Agent and
any agent of any of them may treat the Person in whose name this


 






     A-12-8


    	 



    




 


Certificate is registered as the owner hereof for all purposes,
and none of the Depositor, the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Certificate
Registrar, any Paying Agent or any agent of any of them shall be affected by notice or knowledge to the contrary.


 


No fee or service charge
shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer or exchange referred
to in Section 5.02 of the Pooling and Servicing Agreement other than for transfers to Institutional Accredited Investors as provided
in Section 5.02(h) of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional Accredited Investor,
the transferor shall reimburse the Trust Fund for any costs (including the cost of the Certificate Registrar’s counsel’s
review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar as provided
in the Pooling and Servicing Agreement) incurred by the Certificate Registrar in connection with such transfer. The Certificate
Registrar may require payment by each transferor of a sum sufficient to cover any tax, expense or other governmental charge payable
in connection with any such transfer.


 


The Pooling and Servicing
Agreement or any Custodial Agreement may be amended at any time by the Depositor, the Master Servicer, the Special Servicer, the
Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer and the Trustee without the consent of any
of the Certificateholders or any Serviced Companion Loan Noteholders, (i) to cure any ambiguity or to correct any manifest error;
(ii) to cause the provisions of the Pooling and Servicing Agreement or any Custodial Agreement to conform or be consistent with
or in furtherance of the statements made in the Prospectus or Private Placement Memorandum with respect to the Certificates, the
Trust or the Pooling and Servicing Agreement or to correct or supplement any provisions of the Pooling and Servicing Agreement
or any Custodial Agreement which may be defective or inconsistent with any other provisions of the Pooling and Servicing Agreement
or any Custodial Agreement; (iii) to change the timing and/or nature of deposits in the Collection Account, the Distribution Accounts
or any REO Account; provided that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior
to the related Distribution Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder,
as evidenced in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating
Agency Confirmation from each Rating Agency with respect to such amendment; (iv) to modify, eliminate or add to any of its provisions
to such extent as shall be necessary to maintain the qualification of any Trust REMIC as a REMIC under the relevant provisions
of the Code at all times that any Certificate is outstanding, or to avoid or minimize the risk of imposition of any tax on the
Trust Fund or any Trust REMIC that would be a claim against the Trust Fund or any Trust REMIC; provided that the Trustee
and the Certificate Administrator have received an Opinion of Counsel (at the expense of the party requesting such amendment) to
the effect that (a) such action is necessary or desirable to maintain such qualification or to avoid or minimize the risk of the
imposition of any such tax and (b) such action will not adversely affect in any material respect the interests of any Certificateholder
or Companion Loan Noteholder; (v) to modify, eliminate or add to the provisions any provision hereof restricting transfer of the
Class R Certificates; provided the Depositor has determined that such change shall not, as evidenced by an Opinion of Counsel,
cause the Trust Fund, any Trust REMIC or any of the Certificateholders (other than the Transferor) to be subject to a federal tax
caused by a Transfer to a Person that is a


 






     A-12-9


    	 



    




 


Disqualified Organization or a Non-U.S. Tax Person; (vi) to revise or add any other
provisions with respect to matters or questions arising under this Agreement or any other change; provided that the required
action shall not adversely affect in any material respect the interests of any Certificateholder or any holder of a Serviced Pari
Passu Companion Loan not consenting thereto as evidenced in writing by an Opinion of Counsel, at the expense of the party requesting
such amendment or as evidenced by a Rating Agency Confirmation from each of the Rating Agencies with respect to such amendment
or supplement and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating
agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied
with respect to the Certificates); (vii) to amend or supplement any provision hereof to the extent necessary to maintain the then-current
ratings assigned to each Class of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of
the Rating Agencies and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating
agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied
with respect to the Certificates); provided that such amendment or supplement shall not adversely affect in any material
respect the interests of any Certificateholder not consenting thereto as evidenced by an Opinion of Counsel; (viii) to modify the
provisions of Section 3.06 and Section 3.17 of the Pooling and Servicing Agreement (with respect to reimbursement
of Nonrecoverable Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and,
for so long as a Control Termination Event has not occurred and is not continuing, the Directing Certificateholder, determine that
the commercial mortgage backed securities industry standard for such provisions has changed, in order to conform to such industry
standard, (b) such modification does not adversely affect the status of any Trust REMIC as a REMIC under the relevant provisions
of the Code, as evidenced by an Opinion of Counsel and (c) each Rating Agency has delivered a Rating Agency Confirmation and, with
regard to any class of Serviced Companion Loan Securities, the applicable rating agencies have delivered a confirmation that such
action will not result in the downgrade, withdrawal or qualification of its then-current ratings (provided that such rating
agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied
with respect to the Certificates); (ix) to modify the procedures of this Agreement relating to compliance with Rule 17g-5 of the
Exchange Act; provided that such amendment shall not adversely affect in any material respects the interests of any Certificateholders,
as evidenced by (x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation from each
Rating Agency rating such Certificates; and provided, further, that the Certificate Administrator shall give notice
of any such amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website and the Certificate
Administrator shall post such notice to the Certificate Administrator’s Website; and (x) to modify, eliminate or add to any
provisions of the Pooling and Servicing Agreement to such extent as would be necessary to comply with the requirements for use
of Form SF-3 in registered offerings to the extent provided in CFR 239.45(b)(1)(ii), (iii) or (iv).


 


The Pooling and Servicing
Agreement or any Custodial Agreement may also be amended from time to time by the Depositor, the Master Servicer, the Special Servicer,
the Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer and the


 






     A-12-10


    	 



    




 


Trustee with the prior written
consent of the Holders of Certificates representing not less than a majority of the Percentage Interests of each Class of Certificates
affected thereby (without regard to Certificates held by the Depositor, any of the Depositor’s Affiliates and/or agents)
and each Serviced Companion Loan Noteholder affected thereby for the purpose of adding any provisions to or changing in any manner
or eliminating any of the provisions of the Pooling and Servicing Agreement or modifying in any manner the rights of the Certificateholders
or the Serviced Companion Loan Noteholders; provided, that no such amendment may:


 


		(i)	reduce in any manner the amount of, or delay the timing
of, payments received on the Mortgage Loans or Subordinate Companion Loan which are required to be distributed on any Certificate,
without the consent of the Holders of Certificates representing all of the Percentage Interests of the Class or Classes affected
thereby or which are required to be distributed to any Companion Loan Noteholders without the consent of such Companion Loan Noteholders;



		 	 



		(ii)	reduce the aforesaid percentage of Certificates of any
Class the Holders of which are required to consent to any such amendment or remove the requirement to obtain consent of any Companion
Loan Noteholder, in any such case without the consent of the Holders of all Certificates of such Class then-outstanding or such
Companion Loan Noteholder, as applicable;



		 	 



		(iii)	adversely affect the Voting Rights of any Class of Certificates
without the consent of the Holders of all Certificates of such Class then outstanding;



		 	 



		(iv)	change in any manner any defined term used in any Mortgage
Loan Purchase Agreement or the obligations of any Mortgage Loan Seller under such Mortgage Loan Purchase Agreement or otherwise
or change any rights of any Mortgage Loan Seller as a third party beneficiary hereunder, without the consent of such Mortgage
Loan Seller; or



		 	 



		(v)	amend the Servicing Standard without the consent of 100%
of the Certificateholders or receipt of Rating Agency Confirmation from each Rating Agency and confirmation of the applicable
rating agencies that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of
any securities related to a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied
in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates).



 


Further, the Depositor,
the Master Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer
and the Trustee, at any time and from time to time, without the consent of the Certificateholders or, if applicable, the Serviced
Companion Loan Noteholders, may amend the Pooling and Servicing Agreement to modify, eliminate or add to any of its provisions
(i) to such extent as shall be necessary to maintain the qualification of the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC,
or


 









     A-12-11


    	 



    




 


to prevent the imposition of any additional material state or local taxes, at all times that any Certificates are outstanding;
provided that such action, as evidenced by an Opinion of Counsel (obtained at the expense of the Trust Fund), is
necessary or helpful to maintain such qualification or to prevent the imposition of any such taxes, and would not adversely affect
in any material respect the interest of any Certificateholder or if applicable, any Serviced Companion Loan Noteholder or (ii)
to the extent necessary to comply with the Investment Company Act of 1940, as amended, the Exchange Act, Regulation AB, and/or
any related regulatory actions and/or interpretations.


 


The Certificateholder
owning a majority of the Percentage Interest in the Controlling Class and, if no such Certificateholder exercises such option,
the Special Servicer, and if the Special Servicer does not exercise such option, the Master Servicer may effect an early termination
of the Trust Fund, upon not less than 30 days’ prior Notice of Termination given to the Trustee, the Special Servicer and
the Master Servicer any time specifying the Anticipated Termination Date, which shall be on or after the Early Termination Notice
Date (defined as any date as of which the aggregate Stated Principal Balance of the Mortgage Loans remaining in the Trust is less
than 1.0% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date) by purchasing on such date all,
but not less than all, of the Mortgage Loans then included in the Trust Fund, and the Trust’s interest in all property acquired
in respect of any Mortgage Loan, at a purchase price, payable in cash, equal to the sum of, without duplication:


 


		(A)	100% of the Stated Principal Balance of each Mortgage Loan included in the Trust as of the last
day of the month preceding such Anticipated Termination Date (less any P&I Advances previously made on account of principal);



 


		(B)	the fair market value of all other property included in the Trust Fund as of the last day of the
month preceding such Anticipated Termination Date, as determined by an Independent appraiser acceptable to the Master Servicer
as of a date not more than 30 days prior to the last day of the month preceding such Distribution Date;



 


		(C)	all unpaid interest accrued on the unpaid balance of each Mortgage Loan (including any Mortgage
Loan as to which title to the related Mortgaged Property has been acquired) at the Mortgage Rate to the last day of the month preceding
such Anticipated Termination Date (less any P&I Advances previously made on account of interest); and



 


		(D)	the aggregate amount of unreimbursed
                                         Advances, with interest thereon at the Reimbursement Rate, and unpaid Servicing Compensation,
                                         Special Servicing Compensation, Operating Advisor Fees, Certificate Administrator/Trustee
                                         Fees, the CREFC® Intellectual Property Royalty License Fees and Trust
                                         Fund expenses.



 






     A-12-12


    	 



    




 


In addition, the Pooling
and Servicing Agreement provides that following the date on which the Class X-A Notional Amount, the Class X-B Notional Amount,
the Class X-C Notional Amount and the aggregate Certificate Balance of the Class A-1, Class A-2, Class A-SB, Class A-3A, Class
A-3B, Class A-4, Class A-M, Class B, Class C and Class D Certificates is reduced to zero, the Sole Certificateholder shall have
the right to exchange all of the then-outstanding Certificates (other than (i) the Class X-D, Class X-E Certificates and Class
X-F Certificates if the Sole Certificateholder has only taken an assignment of the Voting Rights of the Class X-D, Class X-E Certificates
and Class X-F Certificates pursuant to the definition of “Sole Certificateholder” and (ii) the Class R Certificates)
for all of the Mortgage Loans and each REO Property remaining in the Trust Fund as contemplated by clause (ii) of Section 9.01(a)
of the Pooling and Servicing Agreement by giving written notice to all the parties to the Pooling and Servicing Agreement no later
than 60 days prior to the anticipated date of exchange.


 


All costs and expenses
incurred by any and all parties to the Pooling and Servicing Agreement or by the Trust Fund in connection with the purchase of
the Mortgage Loans and the other assets of the Trust Fund pursuant to Section 9.01(c) of the Pooling and Servicing Agreement shall
be borne by the party exercising its purchase rights thereunder. The Trustee and the Certificate Administrator shall be entitled
to rely conclusively on any determination made by an Independent appraiser pursuant to Section 9.01(c) of the Pooling and Servicing
Agreement.


 


The respective obligations
and responsibilities of the Master Servicer, the Special Servicer, the Depositor, the Certificate Administrator, the Operating
Advisor, the Asset Representations Reviewer and the Trustee created by the Pooling and Servicing Agreement with respect to the
Certificates (other than the obligations of the Certificate Administrator to make certain payments and to send certain notices
to Certificateholders as set forth in the Pooling and Servicing Agreement) shall terminate upon payment (or provision for payment)
to the Certificateholders and the Serviced Companion Loan Noteholders of all amounts held by or on behalf of the Trustee, the
Certificate Administrator and the Master Servicer, as the case may be, required under the Pooling and Servicing Agreement to be
so paid on the Distribution Date following the earlier to occur of (i) the purchase of the Mortgage Loans and all other property
held by the Trust Fund in accordance with Section 9.01(c) of the Pooling and Servicing Agreement; (ii) the exchange by the Sole
Certificateholder of its Certificates for the Mortgage Loans in accordance with Section 9.01(g) of the Pooling and Servicing Agreement;
and (iii) the later of (a) the receipt or collection of the last payment due on any Mortgage Loan included in the Trust Fund,
or (b) the liquidation and disposition pursuant to the Pooling and Servicing Agreement of the last asset held by the Trust Fund;
provided that in no event shall the trust created by the Pooling and Servicing Agreement continue beyond the expiration
of 21 years from the death of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States
to the United Kingdom, living on the date hereof.


 


Unless the Certificate
of Authentication on this Certificate has been executed by the Authenticating Agent, by manual signature, this Certificate shall
not be entitled to any benefit under the Pooling and Servicing Agreement or be valid for any purpose.


 






     A-12-13


    	 



    

 


IN WITNESS WHEREOF, the
Certificate Administrator has caused this Class F Certificate to be duly executed.


 


Dated: April __, 2016


 


	 	WELLS FARGO
BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Certificate Administrator
	 	 
	 	 By:	 
	 	 	Authorized Signatory








 





Certificate of Authentication


 


This is one of the Class
F Certificates referred to in the Pooling and Servicing Agreement.


 


Dated: April __, 2016


 


	 	WELLS FARGO
BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Authenticating Agent
	 	 
	 	 By:	 
	 	 	Authorized Signatory





 



     A-12-14


    	 



    




 


EXHIBIT A-13


 


FORM OF CLASS G [RULE 144A]1
[REG S]2
CERTIFICATE


 


[UNLESS THIS CERTIFICATE IS PRESENTED
BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE
REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &
CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]3


 


THIS CERTIFICATE HAS NOT BEEN AND WILL
NOT BE REGISTERED OR QUALIFIED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR
ANY STATE OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED,
RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY IN COMPLIANCE WITH THE SECURITIES ACT AND OTHER APPLICABLE LAWS, AND ONLY (A)(1)
PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (2) FOR SO LONG AS THIS CERTIFICATE
IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”), TO AN INSTITUTIONAL INVESTOR
THAT THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING OF RULE 144A (“QUALIFIED
INSTITUTIONAL BUYER”), PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF ANOTHER QUALIFIED INSTITUTIONAL BUYER, WHOM
THE HOLDER HAS INFORMED, IN EACH CASE, THAT THE REOFFER, RESALE, PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A,
(3) TO AN INSTITUTIONAL “ACCREDITED INVESTOR,” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION
D UNDER THE SECURITIES ACT OR ANY ENTITY IN WHICH ALL OF THE EQUITY OWNERS ARE SUCH ACCREDITED INVESTORS, OR (4) TO INSTITUTIONS
THAT ARE A NON-”U.S. PERSON” IN AN “OFFSHORE TRANSACTION,” AS SUCH TERMS ARE DEFINED IN, AND IN ACCORDANCE
WITH RULE 903 OR RULE 904 OF, REGULATION S UNDER THE SECURITIES ACT, AND (B) IN ACCORDANCE WITH ANY OTHER APPLICABLE SECURITIES
LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION.


  





 






1
For Rule 144A Global Certificates only. 


2
For Reg S Global Certificates only. 


3
Legend required as long as DTC is the Depository under the Pooling and Servicing Agreement.



  






     A-13-1


    	 



    

  


THE INITIAL INVESTOR IN THIS CERTIFICATE,
AND EACH SUBSEQUENT PURCHASER OF THIS CERTIFICATE, BY PURCHASING THIS CERTIFICATE OR AN INTEREST HEREIN, IS DEEMED TO HAVE AGREED
TO COMPLY WITH CERTAIN TRANSFER REQUIREMENTS SET FORTH IN THE POOLING AND SERVICING AGREEMENT. A TRANSFEREE IS ALSO REQUIRED TO
DELIVER AN INVESTMENT REPRESENTATION LETTER SUBSTANTIALLY IN THE FORM OF EXHIBIT D-1 TO THE POOLING AND SERVICING AGREEMENT IF
SUCH TRANSFEREE IS A QUALIFIED INSTITUTIONAL BUYER OR (OTHER THAN WITH RESPECT TO A RESIDUAL CERTIFICATE) AN INSTITUTIONAL ACCREDITED
INVESTOR, AND MAY ALSO BE REQUIRED TO DELIVER AN OPINION OF COUNSEL IF SUCH TRANSFEREE IS NOT A QUALIFIED INSTITUTIONAL BUYER WITHIN
THE MEANING OF RULE 144A.


 


ANY HOLDER DESIRING TO EFFECT A TRANSFER
OF THIS CERTIFICATE SHALL, AND DOES HEREBY AGREE TO, INDEMNIFY THE CERTIFICATE REGISTRAR, THE CERTIFICATE ADMINISTRATOR, THE TRUSTEE,
THE MASTER SERVICER AND THE DEPOSITOR AGAINST ANY LOSS, LIABILITY OR EXPENSE THAT MAY RESULT IF THE TRANSFER IS NOT EXEMPT FROM
THE SECURITIES ACT OR IS NOT MADE IN ACCORDANCE WITH FEDERAL AND STATE LAWS.


 


THIS CERTIFICATE DOES NOT REPRESENT
AN OBLIGATION OF OR INTEREST IN THE DEPOSITOR, THE ORIGINATOR, THE MASTER SERVICER, THE SPECIAL SERVICER, THE CERTIFICATE ADMINISTRATOR,
THE CERTIFICATE REGISTRAR, THE OPERATING ADVISOR, THE ASSET REPRESENTATIONS REVIEWER, THE TRUSTEE OR ANY OF THEIR RESPECTIVE AFFILIATES.
NEITHER THE CERTIFICATES NOR THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY.


 


PRINCIPAL PAYMENTS ON THIS CERTIFICATE
ARE PAYABLE IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE BALANCE OF THIS CERTIFICATE AT ANY TIME
MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.


 


TRANSFERS AND EXCHANGES OF PORTIONS
OF THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS AS PROVIDED IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.


 


THIS CERTIFICATE IS SUBORDINATE TO ONE
OR MORE OTHER CLASSES OF CERTIFICATES AS AND TO THE EXTENT SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.


 


THIS CERTIFICATE SHOULD NOT BE PURCHASED
BY A TRANSFEREE THAT IS (A) AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT ARRANGEMENT, INCLUDING AN INDIVIDUAL RETIREMENT ACCOUNT
OR A KEOGH PLAN, WHICH IS SUBJECT TO THE EMPLOYEE RETIREMENT INCOME SECURITY ACT


 






     A-13-2


    	 



    




 


OF 1974, AS AMENDED (“ERISA”),
OR SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”) OR A GOVERNMENTAL PLAN, AS DEFINED
IN SECTION 3(32) OF ERISA, OR OTHER PLAN SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW (“SIMILAR LAW”) WHICH IS
TO A MATERIAL EXTENT SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE (EACH, A “PLAN”), OR (B) A COLLECTIVE
INVESTMENT FUND WHOSE UNDERLYING ASSETS INCLUDE PLAN ASSETS BY REASON OF A PLAN’S INVESTMENT IN THE COLLECTIVE INVESTMENT
FUND (PURSUANT TO U.S. DEPARTMENT OF LABOR REGULATION SECTION 2510.3-101, AS MODIFIED BY SECTION 3(42) OF ERISA), AN INSURANCE
COMPANY USING ASSETS OF SEPARATE ACCOUNTS OR GENERAL ACCOUNTS WHICH INCLUDE ASSETS OF PLANS (OR WHICH ARE DEEMED PURSUANT TO ERISA
OR ANY SIMILAR LAW TO INCLUDE ASSETS OF PLANS) OR OTHER PERSON ACTING ON BEHALF OF ANY SUCH PLAN OR USING THE ASSETS OF ANY SUCH
PLAN, OTHER THAN AN INSURANCE COMPANY USING THE ASSETS OF ITS GENERAL ACCOUNT UNDER CIRCUMSTANCES WHEREBY SUCH PURCHASE AND THE
SUBSEQUENT HOLDING OF SUCH CERTIFICATE BY SUCH INSURANCE COMPANY WOULD BE EXEMPT FROM THE PROHIBITED TRANSACTION PROVISIONS OF
SECTIONS 406 AND 407 OF ERISA, AND CODE SECTION 4975 UNDER SECTIONS I AND III OF PTCE 95-60 OR A SUBSTANTIALLY SIMILAR EXEMPTION
UNDER SIMILAR LAW. TRANSFEREES OF THIS CERTIFICATE TAKING DELIVERY IN CERTIFICATED FORM SHALL BE REQUIRED EITHER (i) TO DELIVER
A LETTER IN THE FORM ATTACHED TO THE POOLING AND SERVICING AGREEMENT TO SUCH EFFECT, OR (ii) IF THE TRANSFEREE IS SUCH AN ENTITY
SPECIFIED IN (A) OR (B) ABOVE, SUCH ENTITY SHALL PROVIDE ANY OPINIONS OF COUNSEL, OFFICERS’ CERTIFICATES OR AGREEMENTS AS
MAY BE REQUIRED BY, AND IN FORM AND SUBSTANCE SATISFACTORY TO, THE DEPOSITOR, THE CERTIFICATE ADMINISTRATOR AND THE CERTIFICATE
REGISTRAR, TO THE EFFECT THAT THE PURCHASE AND HOLDING OF THE CERTIFICATES BY OR ON BEHALF OF A PLAN WILL NOT CONSTITUTE OR RESULT
IN A NON-EXEMPT PROHIBITED TRANSACTION WITHIN THE MEANING OF SECTION 406 OR 407 OF ERISA OR CODE SECTION 4975 (OR SIMILAR VIOLATION
OF SIMILAR LAW), AND WILL NOT SUBJECT THE MASTER SERVICER, THE SPECIAL SERVICER, THE DEPOSITOR, THE CERTIFICATE ADMINISTRATOR,
THE OPERATING ADVISOR, THE ASSET REPRESENTATIONS REVIEWER, THE TRUSTEE OR THE CERTIFICATE REGISTRAR TO ANY OBLIGATION OR LIABILITY.
THE TRANSFEREE OF A BENEFICIAL INTEREST IN A “GLOBAL CERTIFICATE” THAT IS A “RESTRICTED CERTIFICATE” (EACH
AS DEFINED IN THE POOLING AND SERVICING AGREEMENT) SHALL BE DEEMED TO REPRESENT THAT IT IS NOT A PLAN OR A PERSON ACTING ON BEHALF
OF ANY PLAN OR USING THE ASSETS OF ANY PLAN TO ACQUIRE SUCH INTEREST, OTHER THAN AN INSURANCE COMPANY USING THE ASSETS OF ITS GENERAL
ACCOUNT UNDER CIRCUMSTANCES WHEREBY SUCH PURCHASE AND THE SUBSEQUENT HOLDING OF SUCH CERTIFICATE BY SUCH INSURANCE COMPANY WOULD
BE EXEMPT FROM THE PROHIBITED TRANSACTION PROVISIONS OF SECTIONS 406 AND 407 OF ERISA, AND CODE SECTION 4975


 






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UNDER SECTIONS I AND
III OF PTCE 95-60, OR A SUBSTANTIALLY SIMILAR EXEMPTION UNDER SIMILAR LAW.


 


FOR U.S. FEDERAL INCOME TAX PURPOSES,
THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN CODE SECTIONS 860G(a)(1) AND 860D.


 


[THIS CERTIFICATE HAS NOT BEEN AND
WILL NOT BE REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT AND, PRIOR TO THE DATE THAT IS 40 DAYS AFTER THE OFFERING OF THE
CERTIFICATES, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED IN THE UNITED STATES OR TO A U.S. PERSON EXCEPT PURSUANT
TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.]4


 





 






4
For Reg S Global Certificates only.


 






     A-13-4


    	 



    

  


DBJPM 2016-C1 MORTGAGE TRUST COMMERCIAL
MORTGAGE

PASS-THROUGH CERTIFICATES, CLASS G


 


	Class G Pass-Through Rate: 3.250%	 	
        CUSIP:   23312LAK45

U2401LAK76

23312LBG27

         

        ISIN:      US23312LAK448

        USU2401LAK719

        US23312LBG2310

         

	Original Aggregate Certificate Balance of the Class G Certificates: $8,180,000	 	Initial Certificate Balance of this Certificate: $[_____]
	 	 	 
	First Distribution Date: May 12, 2016	 	Cut-off Date: The close of business on the later of the related due date for each Mortgage Loan in April 2016 and the date of origination of such Mortgage Loan
	 	 	 
	Assumed Final Distribution Date: April 2026	 	No.: G-[__]





 


This certifies that
[               ] is the registered owner of
a beneficial ownership interest in a Trust Fund, including the distributions to be made with respect to the Class G Certificates.
The Trust Fund, described more fully below, consists primarily of a pool of Mortgage Loans secured by first liens on commercial,
multifamily and manufactured housing community properties and held in trust by the Trustee and serviced by the Master Servicer.
The Trust Fund was created, and the Mortgage Loans are to be serviced, pursuant to the Pooling and Servicing Agreement (as defined
below). The Holder of this Certificate, by virtue of the acceptance hereof, assents to the terms, provisions and conditions of
the Pooling and Servicing Agreement and is bound thereby.


 


The Pooling and Servicing
Agreement, dated as of April 1, 2016 (the “Pooling and Servicing Agreement”), between the Depositor, Wells Fargo
Bank, National Association, as master servicer (in such capacity, the “Master Servicer”), Midland Loan Services,
a Division of PNC Bank, National Association, as special servicer (the “Special Servicer”), Wilmington Trust,
National Association, as trustee (the “Trustee”), Wells Fargo Bank, National Association, as certificate administrator
(in such capacity, the “Certificate Administrator”), paying agent and custodian, Park Bridge Lender Services
LLC, as operating advisor (in such capacity, the





 


 






5
For Rule 144A Certificates 


6
For Regulation S Certificates 


7
For IAI Certificates 


8
For Rule 144A Certificates 


9
For Regulation S Certificates 


10
For IAI Certificates



 






     A-13-5


    	 



    




 


“Operating Advisor”), and Park Bridge Lender Services
LLC, as asset representations reviewer (in such capacity, the “Asset Representations Reviewer”) evidences
the issuance of the Class A-1, Class A-2, Class A-SB, Class A-3A, Class A-4, Class X-A, Class A-M, Class B, Class C, Class A-3B,
Class X-B, Class X-C, Class X-D, Class X-E, Class X-F, Class D, Class E, Class F, Class G, Class H and Class R Certificates (the
“Certificates”; the Holders of Certificates issued under the Pooling and Servicing Agreement are collectively
referred to herein as “Certificateholders”). This Certificate is issued pursuant to, and in accordance with,
the terms of the Pooling and Servicing Agreement. To the extent not defined herein, capitalized terms used herein shall have the
meanings assigned thereto in the Pooling and Servicing Agreement.


 


This Certificate represents
a “regular interest” in a “real estate mortgage investment conduit”, as those terms are defined, respectively,
in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this Certificate, by acceptance
hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in accordance with the preceding
sentence for purposes of federal income taxes, state and local income and franchise taxes and other taxes imposed on or measured
by income.


 


The Certificate Administrator
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Mortgage Loans and has executed this Certificate in its limited capacity as Certificate Administrator under the Pooling
and Servicing Agreement. In the event that there is any conflict between any provision of this Certificate and any provision of
the Pooling and Servicing Agreement, such provision of this Certificate shall be superseded to the extent of such inconsistency.


 


Pursuant to the terms
of the Pooling and Servicing Agreement, the Certificate Administrator, or the Paying Agent on behalf of the Certificate Administrator,
will distribute (other than the final distribution on any Certificate), on the fourth Business Day after each Determination Date
(each such date, a “Distribution Date”) an amount equal to such Person’s pro rata share (based on the
Percentage Interest represented by this Certificate) of that portion of the aggregate amount of principal and interest then distributable,
if any, allocable to the Class G Certificates for such Distribution Date, all as more fully described in the Pooling and Servicing
Agreement. “Determination Date” is defined in the Pooling and Servicing Agreement as the sixth day of each month, or
if such sixth day is not a Business Day, then the next Business Day, commencing in May 2016.


 


During each Interest
Accrual Period (as defined below), interest on the Class G Certificates will be calculated based on a 360-day year consisting of
twelve 30-day months on the outstanding Certificate Balance hereof.


 


Interest accrued on this
Certificate during an Interest Accrual Period, plus the aggregate unpaid Interest Shortfall with respect to this Certificate, if
any, will be payable on the related Distribution Date to the extent provided in the Pooling and Servicing Agreement. The “Interest
Accrual Period” means, with respect to any Distribution Date, the calendar month immediately preceding the month in which
such Distribution Date occurs. Each Interest Accrual Period is assumed to consist of 30 days.


 






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All distributions (other
than the final distribution on any Certificate) will be made by the Paying Agent to the Persons in whose names the Certificates
are registered at the close of business on each Record Date, which will be the close of business on the last Business Day of the
calendar month preceding the month in which such Distribution Date occurs. Such distributions shall be made on each Distribution
Date other than the Termination Date to each Certificateholder of record on the related Record Date, (i) by wire transfer of immediately
available funds to the account of such Holder at a bank or other entity located in the United States and having appropriate facilities
therefor if such Holder shall have provided the Paying Agent with wire instructions in writing at least five Business Days prior
to the related Record Date (which wiring instructions may be in the form of a standing order applicable to all subsequent distributions),
or (ii) otherwise, by check mailed by first-class mail to the address set forth therefor in the Certificate Register. The final
distribution on each Certificate shall be made in like manner, but only upon presentment and surrender of such Certificate at the
office of the Certificate Administrator or its agent (which may be the Paying Agent or the Certificate Registrar acting as such
agent) that is specified in the notice to Holders of such final distribution.


 


Any funds not distributed
on the Termination Date because of the failure of any Certificateholders to tender their Certificates shall, on such date, be set
aside and held for the benefit of the appropriate non-tendering Certificateholders. If any Certificates as to which notice of the
Termination Date has been given pursuant to the Pooling and Servicing Agreement shall not have been surrendered for cancellation
within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders to surrender their Certificates for cancellation to receive the final distribution with respect
thereto. If within one year after the second notice not all of such Certificates shall have been surrendered for cancellation,
the Certificate Administrator may, directly or through an agent, take appropriate steps to contact the remaining non-tendering
Certificateholders concerning surrender of their Certificates. The costs and expenses of holding such funds in trust and of contacting
such Certificateholders shall be paid out of such funds. Subject to applicable state escheatment laws, if within two years after
the second notice any such Certificates shall not have been surrendered for cancellation, the Paying Agent shall distribute to
the Certificate Administrator all amounts distributable to the Holders thereof, and the Certificate Administrator shall thereafter
hold such amounts for the benefit of such Holders until the earlier of (i) its termination as Certificate Administrator under the
Pooling and Servicing Agreement and the transfer of such amounts to a successor Certificate Administrator and (ii) the termination
of the Trust Fund and distribution of such amounts to the Class R Certificateholders. No interest shall accrue or be payable to
any Certificateholder on any amount held under the Pooling and Servicing Agreement or by the Certificate Administrator as a result
of such Certificateholder’s failure to surrender its Certificate(s) for final payment thereof in accordance with the Pooling
and Servicing Agreement. Any such amounts transferred to the Certificate Administrator may be invested in Permitted Investments
and all income and gain realized from investment of such funds shall accrue for its benefit.


 


This Certificate is limited
in right of payment to, among other things, certain collections and recoveries in respect of the Mortgage Loans, as more specifically
set forth herein and in the Pooling and Servicing Agreement.


 






     A-13-7


    	 



    




 


As provided in the Pooling
and Servicing Agreement, the Trust Fund includes (in each case, to the extent of the Trust Fund’s interest therein and specifically
excluding any interest of any Serviced Companion Loan Noteholder therein): (i) such Mortgage Loans as from time to time are subject
to the Pooling and Servicing Agreement, together with the Mortgage Files relating thereto; (ii) all scheduled or unscheduled payments
on or collections in respect of the Mortgage Loans due after the Cut-off Date; (iii) the Trust Fund’s interest in any REO
Property; (iv) all revenues received in respect of any REO Property; (v) any Assignments of Leases, Rents and Profits and any security
agreements related to the Mortgage Loans; (vi) any indemnities or guaranties given as additional security for any Mortgage Loans;
(vii) a security interest in all assets deposited in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts, and Reserve
Accounts; (viii) the Loss of Value Reserve Fund; (ix) the Collection Account, the Serviced Whole Loan Collection Accounts, the
Distribution Accounts, any Gain-on-Sale Reserve Account, the Interest Reserve Account, and the Trust’s interest in any REO
Account, including any amounts on deposit therein, assets credited thereto and any reinvestment income, as applicable; (x) a security
interest in any environmental indemnity agreements relating to the Mortgaged Properties; (xi) a security interest in all insurance
policies with respect to the Mortgage Loans and the Mortgaged Properties; (xii) the rights and remedies under the Mortgage Loan
Purchase Agreements relating to document delivery requirements with respect to the Mortgage Loans and the representations and warranties
of the related Mortgage Loan Seller regarding its Mortgage Loans; (xiii) the Lower-Tier Regular Interests and (xiv) the proceeds
of the foregoing (other than any interest earned on deposits in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts
and any Reserve Accounts, to the extent such interest belongs to the related Borrower). As provided in the Pooling and Servicing
Agreement, withdrawals may be made from certain of the above accounts for purposes other than distributions to Certificateholders.


 


This Certificate does
not purport to summarize the Pooling and Servicing Agreement, and reference is made to the Pooling and Servicing Agreement for
the interests, rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and
immunities of the Certificate Administrator.


 


As provided in the Pooling
and Servicing Agreement and subject to certain limitations set forth therein, this Certificate is transferable or exchangeable
only upon surrender of this Certificate to the Certificate Registrar at its offices together with an assignment and transfer (executed
by the Holder or his duly authorized attorney), subject to the requirements in Article V of the Pooling and Servicing Agreement.
Upon surrender for registration of transfer of this Certificate, subject to the requirements Article V of the Pooling and Servicing
Agreement, the Certificate Administrator shall execute and the Authenticating Agent shall duly authenticate in the name of the
designated transferee or transferees, one or more new Certificates in authorized denominations of a like aggregate denomination
as the Certificate being surrendered. Such Certificates shall be delivered by the Certificate Registrar in accordance with Article
V of the Pooling and Servicing Agreement.


 


Prior to due presentation
of this Certificate for registration of transfer, the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor,
the Asset Representations Reviewer, the Certificate Administrator, the Trustee, the Certificate Registrar, any Paying Agent and
any agent of any of them may treat the Person in whose name this


 






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Certificate is registered as the owner hereof for all purposes,
and none of the Depositor, the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Certificate
Registrar, any Paying Agent or any agent of any of them shall be affected by notice or knowledge to the contrary.


 


No fee or service charge
shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer or exchange referred
to in Section 5.02 of the Pooling and Servicing Agreement other than for transfers to Institutional Accredited Investors as provided
in Section 5.02(h) of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional Accredited Investor,
the transferor shall reimburse the Trust Fund for any costs (including the cost of the Certificate Registrar’s counsel’s
review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar as provided
in the Pooling and Servicing Agreement) incurred by the Certificate Registrar in connection with such transfer. The Certificate
Registrar may require payment by each transferor of a sum sufficient to cover any tax, expense or other governmental charge payable
in connection with any such transfer.


 


The Pooling and Servicing
Agreement or any Custodial Agreement may be amended at any time by the Depositor, the Master Servicer, the Special Servicer, the
Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer and the Trustee without the consent of any
of the Certificateholders or any Serviced Companion Loan Noteholders, (i) to cure any ambiguity or to correct any manifest error;
(ii) to cause the provisions of the Pooling and Servicing Agreement or any Custodial Agreement to conform or be consistent with
or in furtherance of the statements made in the Prospectus or Private Placement Memorandum with respect to the Certificates, the
Trust or the Pooling and Servicing Agreement or to correct or supplement any provisions of the Pooling and Servicing Agreement
or any Custodial Agreement which may be defective or inconsistent with any other provisions of the Pooling and Servicing Agreement
or any Custodial Agreement; (iii) to change the timing and/or nature of deposits in the Collection Account, the Distribution Accounts
or any REO Account; provided that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior
to the related Distribution Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder,
as evidenced in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating
Agency Confirmation from each Rating Agency with respect to such amendment; (iv) to modify, eliminate or add to any of its provisions
to such extent as shall be necessary to maintain the qualification of any Trust REMIC as a REMIC under the relevant provisions
of the Code at all times that any Certificate is outstanding, or to avoid or minimize the risk of imposition of any tax on the
Trust Fund or any Trust REMIC that would be a claim against the Trust Fund or any Trust REMIC; provided that the Trustee
and the Certificate Administrator have received an Opinion of Counsel (at the expense of the party requesting such amendment) to
the effect that (a) such action is necessary or desirable to maintain such qualification or to avoid or minimize the risk of the
imposition of any such tax and (b) such action will not adversely affect in any material respect the interests of any Certificateholder
or Companion Loan Noteholder; (v) to modify, eliminate or add to the provisions any provision hereof restricting transfer of the
Class R Certificates; provided the Depositor has determined that such change shall not, as evidenced by an Opinion of Counsel,
cause the Trust Fund, any Trust REMIC or any of the Certificateholders (other than the Transferor) to be subject to a federal tax
caused by a Transfer to a Person that is a


 






     A-13-9


    	 



    




 


Disqualified Organization or a Non-U.S. Tax Person; (vi) to revise or add any other
provisions with respect to matters or questions arising under this Agreement or any other change; provided that the required
action shall not adversely affect in any material respect the interests of any Certificateholder or any holder of a Serviced Pari
Passu Companion Loan not consenting thereto as evidenced in writing by an Opinion of Counsel, at the expense of the party requesting
such amendment or as evidenced by a Rating Agency Confirmation from each of the Rating Agencies with respect to such amendment
or supplement and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating
agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied
with respect to the Certificates); (vii) to amend or supplement any provision hereof to the extent necessary to maintain the then-current
ratings assigned to each Class of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of
the Rating Agencies and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating
agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied
with respect to the Certificates); provided that such amendment or supplement shall not adversely affect in any material
respect the interests of any Certificateholder not consenting thereto as evidenced by an Opinion of Counsel; (viii) to modify the
provisions of Section 3.06 and Section 3.17 of the Pooling and Servicing Agreement (with respect to reimbursement
of Nonrecoverable Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and,
for so long as a Control Termination Event has not occurred and is not continuing, the Directing Certificateholder, determine that
the commercial mortgage backed securities industry standard for such provisions has changed, in order to conform to such industry
standard, (b) such modification does not adversely affect the status of any Trust REMIC as a REMIC under the relevant provisions
of the Code, as evidenced by an Opinion of Counsel and (c) each Rating Agency has delivered a Rating Agency Confirmation and, with
regard to any class of Serviced Companion Loan Securities, the applicable rating agencies have delivered a confirmation that such
action will not result in the downgrade, withdrawal or qualification of its then-current ratings (provided that such rating
agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied
with respect to the Certificates); (ix) to modify the procedures of this Agreement relating to compliance with Rule 17g-5 of the
Exchange Act; provided that such amendment shall not adversely affect in any material respects the interests of any Certificateholders,
as evidenced by (x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation from each
Rating Agency rating such Certificates; and provided, further, that the Certificate Administrator shall give notice
of any such amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website and the Certificate
Administrator shall post such notice to the Certificate Administrator’s Website; and (x) to modify, eliminate or add to any
provisions of the Pooling and Servicing Agreement to such extent as would be necessary to comply with the requirements for use
of Form SF-3 in registered offerings to the extent provided in CFR 239.45(b)(1)(ii), (iii) or (iv).


 


The Pooling and Servicing
Agreement or any Custodial Agreement may also be amended from time to time by the Depositor, the Master Servicer, the Special Servicer,
the Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer and the


 






     A-13-10


    	 



    




 


Trustee with the prior written
consent of the Holders of Certificates representing not less than a majority of the Percentage Interests of each Class of Certificates
affected thereby (without regard to Certificates held by the Depositor, any of the Depositor’s Affiliates and/or agents)
and each Serviced Companion Loan Noteholder affected thereby for the purpose of adding any provisions to or changing in any manner
or eliminating any of the provisions of the Pooling and Servicing Agreement or modifying in any manner the rights of the Certificateholders
or the Serviced Companion Loan Noteholders; provided, that no such amendment may:


 


		(i)	reduce in any manner the amount of, or delay the timing
of, payments received on the Mortgage Loans or Subordinate Companion Loan which are required to be distributed on any Certificate,
without the consent of the Holders of Certificates representing all of the Percentage Interests of the Class or Classes affected
thereby or which are required to be distributed to any Companion Loan Noteholders without the consent of such Companion Loan Noteholders;



		 	 



		(ii)	reduce the aforesaid percentage of Certificates of any
Class the Holders of which are required to consent to any such amendment or remove the requirement to obtain consent of any Companion
Loan Noteholder, in any such case without the consent of the Holders of all Certificates of such Class then-outstanding or such
Companion Loan Noteholder, as applicable;



		 	 



		(iii)	adversely affect the Voting Rights of any Class of Certificates
without the consent of the Holders of all Certificates of such Class then outstanding;



		 	 



		(iv)	change in any manner any defined term used in any Mortgage
Loan Purchase Agreement or the obligations of any Mortgage Loan Seller under such Mortgage Loan Purchase Agreement or otherwise
or change any rights of any Mortgage Loan Seller as a third party beneficiary hereunder, without the consent of such Mortgage
Loan Seller; or



		 	 



		(v)	amend the Servicing Standard without the consent of 100%
of the Certificateholders or receipt of Rating Agency Confirmation from each Rating Agency and confirmation of the applicable
rating agencies that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of
any securities related to a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied
in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates).



 


Further, the Depositor,
the Master Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer
and the Trustee, at any time and from time to time, without the consent of the Certificateholders or, if applicable, the Serviced
Companion Loan Noteholders, may amend the Pooling and Servicing Agreement to modify, eliminate or add to any of its provisions
(i) to such extent as shall be necessary to maintain the qualification of the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC,
or


 






     A-13-11


    	 



    




 


to prevent the imposition of any additional material state or local taxes, at all times that any Certificates are outstanding;
provided that such action, as evidenced by an Opinion of Counsel (obtained at the expense of the Trust Fund), is
necessary or helpful to maintain such qualification or to prevent the imposition of any such taxes, and would not adversely affect
in any material respect the interest of any Certificateholder or if applicable, any Serviced Companion Loan Noteholder or (ii)
to the extent necessary to comply with the Investment Company Act of 1940, as amended, the Exchange Act, Regulation AB, and/or
any related regulatory actions and/or interpretations.


 


The Certificateholder
owning a majority of the Percentage Interest in the Controlling Class and, if no such Certificateholder exercises such option,
the Special Servicer, and if the Special Servicer does not exercise such option, the Master Servicer may effect an early termination
of the Trust Fund, upon not less than 30 days’ prior Notice of Termination given to the Trustee, the Special Servicer and
the Master Servicer any time specifying the Anticipated Termination Date, which shall be on or after the Early Termination Notice
Date (defined as any date as of which the aggregate Stated Principal Balance of the Mortgage Loans remaining in the Trust is less
than 1.0% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date) by purchasing on such date all,
but not less than all, of the Mortgage Loans then included in the Trust Fund, and the Trust’s interest in all property acquired
in respect of any Mortgage Loan, at a purchase price, payable in cash, equal to the sum of, without duplication:


 


		(A)	100% of the Stated Principal Balance of each Mortgage Loan included in the Trust as of the last
day of the month preceding such Anticipated Termination Date (less any P&I Advances previously made on account of principal);



 


		(B)	the fair market value of all other property included in the Trust Fund as of the last day of the
month preceding such Anticipated Termination Date, as determined by an Independent appraiser acceptable to the Master Servicer
as of a date not more than 30 days prior to the last day of the month preceding such Distribution Date;



 


		(C)	all unpaid interest accrued on the unpaid balance of each Mortgage Loan (including any Mortgage
Loan as to which title to the related Mortgaged Property has been acquired) at the Mortgage Rate to the last day of the month preceding
such Anticipated Termination Date (less any P&I Advances previously made on account of interest); and



 


		(D)	the aggregate amount of unreimbursed
                                         Advances, with interest thereon at the Reimbursement Rate, and unpaid Servicing Compensation,
                                         Special Servicing Compensation, Operating Advisor Fees, Certificate Administrator/Trustee
                                         Fees, the CREFC® Intellectual Property Royalty License Fees and Trust
                                         Fund expenses.



 






     A-13-12


    	 



    




 


In addition, the Pooling
and Servicing Agreement provides that following the date on which the Class X-A Notional Amount, the Class X-B Notional Amount,
the Class X-C Notional Amount and the aggregate Certificate Balance of the Class A-1, Class A-2, Class A-SB, Class A-3A, Class
A-3B, Class A-4, Class A-M, Class B, Class C and Class D Certificates is reduced to zero, the Sole Certificateholder shall have
the right to exchange all of the then-outstanding Certificates (other than (i) the Class X-D, Class X-E Certificates and Class
X-F Certificates if the Sole Certificateholder has only taken an assignment of the Voting Rights of the Class X-D, Class X-E Certificates
and Class X-F Certificates pursuant to the definition of “Sole Certificateholder” and (ii) the Class R Certificates)
for all of the Mortgage Loans and each REO Property remaining in the Trust Fund as contemplated by clause (ii) of Section 9.01(a)
of the Pooling and Servicing Agreement by giving written notice to all the parties to the Pooling and Servicing Agreement no later
than 60 days prior to the anticipated date of exchange.


 


All costs and expenses
incurred by any and all parties to the Pooling and Servicing Agreement or by the Trust Fund in connection with the purchase of
the Mortgage Loans and the other assets of the Trust Fund pursuant to Section 9.01(c) of the Pooling and Servicing Agreement shall
be borne by the party exercising its purchase rights thereunder. The Trustee and the Certificate Administrator shall be entitled
to rely conclusively on any determination made by an Independent appraiser pursuant to Section 9.01(c) of the Pooling and Servicing
Agreement.


 


The respective obligations
and responsibilities of the Master Servicer, the Special Servicer, the Depositor, the Certificate Administrator, the Operating
Advisor, the Asset Representations Reviewer and the Trustee created by the Pooling and Servicing Agreement with respect to the
Certificates (other than the obligations of the Certificate Administrator to make certain payments and to send certain notices
to Certificateholders as set forth in the Pooling and Servicing Agreement) shall terminate upon payment (or provision for payment)
to the Certificateholders and the Serviced Companion Loan Noteholders of all amounts held by or on behalf of the Trustee, the
Certificate Administrator and the Master Servicer, as the case may be, required under the Pooling and Servicing Agreement to be
so paid on the Distribution Date following the earlier to occur of (i) the purchase of the Mortgage Loans and all other property
held by the Trust Fund in accordance with Section 9.01(c) of the Pooling and Servicing Agreement; (ii) the exchange by the Sole
Certificateholder of its Certificates for the Mortgage Loans in accordance with Section 9.01(g) of the Pooling and Servicing Agreement;
and (iii) the later of (a) the receipt or collection of the last payment due on any Mortgage Loan included in the Trust Fund,
or (b) the liquidation and disposition pursuant to the Pooling and Servicing Agreement of the last asset held by the Trust Fund;
provided that in no event shall the trust created by the Pooling and Servicing Agreement continue beyond the expiration
of 21 years from the death of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States
to the United Kingdom, living on the date hereof.


 


Unless the Certificate
of Authentication on this Certificate has been executed by the Authenticating Agent, by manual signature, this Certificate shall
not be entitled to any benefit under the Pooling and Servicing Agreement or be valid for any purpose.


 






     A-13-13


    	 



    




 


IN WITNESS WHEREOF, the Certificate Administrator
has caused this Class G Certificate to be duly executed.


 


Dated: April __, 2016


 





	 	WELLS FARGO
BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Certificate Administrator
	 	 
	 	By:	 
	 	 	Authorized Signatory


  


Certificate of Authentication


 


This is one of the Class
G Certificates referred to in the Pooling and Servicing Agreement.


 


Dated: April __, 2016


 





	 	WELLS FARGO
BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Authenticating Agent
	 	 
	 	By:	 
	 	 	Authorized Signatory


  






     A-13-14


    	 



    




 



 





EXHIBIT A-14


 


FORM OF CLASS H [RULE 144A]1
[REG S]2
CERTIFICATE


 


[UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”),
TO THE CERTIFICATE REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.]3


 


THIS CERTIFICATE HAS NOT BEEN AND WILL
NOT BE REGISTERED OR QUALIFIED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR
ANY STATE OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED,
RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY IN COMPLIANCE WITH THE SECURITIES ACT AND OTHER APPLICABLE LAWS, AND ONLY (A)(1)
PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (2) FOR SO LONG AS THIS CERTIFICATE
IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”), TO AN INSTITUTIONAL INVESTOR
THAT THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING OF RULE 144A (“QUALIFIED
INSTITUTIONAL BUYER”), PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF ANOTHER QUALIFIED INSTITUTIONAL BUYER, WHOM
THE HOLDER HAS INFORMED, IN EACH CASE, THAT THE REOFFER, RESALE, PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A,
(3) TO AN INSTITUTIONAL “ACCREDITED INVESTOR,” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION
D UNDER THE SECURITIES ACT OR ANY ENTITY IN WHICH ALL OF THE EQUITY OWNERS ARE SUCH ACCREDITED INVESTORS, OR (4) TO INSTITUTIONS
THAT ARE A NON-”U.S. PERSON” IN AN “OFFSHORE TRANSACTION,” AS SUCH TERMS ARE DEFINED IN, AND IN ACCORDANCE
WITH RULE 903 OR RULE 904 OF, REGULATION S UNDER THE SECURITIES ACT, AND (B) IN ACCORDANCE WITH ANY OTHER APPLICABLE SECURITIES
LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION.


 





 









1
For Rule 144A Global Certificates only.


2
For Reg S Global Certificates only.


3
Legend required as long as DTC is the Depository under the Pooling and Servicing Agreement.


 







 



     A-14-1


     


    




 


THE INITIAL INVESTOR IN THIS CERTIFICATE,
AND EACH SUBSEQUENT PURCHASER OF THIS CERTIFICATE, BY PURCHASING THIS CERTIFICATE OR AN INTEREST HEREIN, IS DEEMED TO HAVE AGREED
TO COMPLY WITH CERTAIN TRANSFER REQUIREMENTS SET FORTH IN THE POOLING AND SERVICING AGREEMENT. A TRANSFEREE IS ALSO REQUIRED TO
DELIVER AN INVESTMENT REPRESENTATION LETTER SUBSTANTIALLY IN THE FORM OF EXHIBIT D-1 TO THE POOLING AND SERVICING AGREEMENT IF
SUCH TRANSFEREE IS A QUALIFIED INSTITUTIONAL BUYER OR (OTHER THAN WITH RESPECT TO A RESIDUAL CERTIFICATE) AN INSTITUTIONAL ACCREDITED
INVESTOR, AND MAY ALSO BE REQUIRED TO DELIVER AN OPINION OF COUNSEL IF SUCH TRANSFEREE IS NOT A QUALIFIED INSTITUTIONAL BUYER WITHIN
THE MEANING OF RULE 144A.


 


ANY HOLDER DESIRING TO EFFECT A TRANSFER
OF THIS CERTIFICATE SHALL, AND DOES HEREBY AGREE TO, INDEMNIFY THE CERTIFICATE REGISTRAR, THE CERTIFICATE ADMINISTRATOR, THE TRUSTEE,
THE MASTER SERVICER AND THE DEPOSITOR AGAINST ANY LOSS, LIABILITY OR EXPENSE THAT MAY RESULT IF THE TRANSFER IS NOT EXEMPT FROM
THE SECURITIES ACT OR IS NOT MADE IN ACCORDANCE WITH FEDERAL AND STATE LAWS.


 


THIS CERTIFICATE DOES NOT REPRESENT
AN OBLIGATION OF OR INTEREST IN THE DEPOSITOR, THE ORIGINATOR, THE MASTER SERVICER, THE SPECIAL SERVICER, THE CERTIFICATE ADMINISTRATOR,
THE CERTIFICATE REGISTRAR, THE OPERATING ADVISOR, THE ASSET REPRESENTATIONS REVIEWER, THE TRUSTEE OR ANY OF THEIR RESPECTIVE AFFILIATES.
NEITHER THE CERTIFICATES NOR THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY.


 


PRINCIPAL PAYMENTS ON THIS CERTIFICATE
ARE PAYABLE IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE BALANCE OF THIS CERTIFICATE AT ANY TIME
MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.


 


TRANSFERS AND EXCHANGES OF PORTIONS
OF THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS AS PROVIDED IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.


 


THIS CERTIFICATE IS SUBORDINATE TO ONE
OR MORE OTHER CLASSES OF CERTIFICATES AS AND TO THE EXTENT SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.


 


THIS CERTIFICATE SHOULD NOT BE PURCHASED
BY A TRANSFEREE THAT IS (A) AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT ARRANGEMENT, INCLUDING AN INDIVIDUAL RETIREMENT ACCOUNT
OR A KEOGH PLAN, WHICH IS SUBJECT TO THE EMPLOYEE RETIREMENT INCOME SECURITY ACT


 



     A-14-2


     


    

 


OF 1974, AS AMENDED (“ERISA”),
OR SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”) OR A GOVERNMENTAL PLAN, AS DEFINED
IN SECTION 3(32) OF ERISA, OR OTHER PLAN SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW (“SIMILAR LAW”) WHICH IS
TO A MATERIAL EXTENT SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE (EACH, A “PLAN”), OR (B) A COLLECTIVE
INVESTMENT FUND WHOSE UNDERLYING ASSETS INCLUDE PLAN ASSETS BY REASON OF A PLAN’S INVESTMENT IN THE COLLECTIVE INVESTMENT
FUND (PURSUANT TO U.S. DEPARTMENT OF LABOR REGULATION SECTION 2510.3-101, AS MODIFIED BY SECTION 3(42) OF ERISA), AN INSURANCE
COMPANY USING ASSETS OF SEPARATE ACCOUNTS OR GENERAL ACCOUNTS WHICH INCLUDE ASSETS OF PLANS (OR WHICH ARE DEEMED PURSUANT TO ERISA
OR ANY SIMILAR LAW TO INCLUDE ASSETS OF PLANS) OR OTHER PERSON ACTING ON BEHALF OF ANY SUCH PLAN OR USING THE ASSETS OF ANY SUCH
PLAN, OTHER THAN AN INSURANCE COMPANY USING THE ASSETS OF ITS GENERAL ACCOUNT UNDER CIRCUMSTANCES WHEREBY SUCH PURCHASE AND THE
SUBSEQUENT HOLDING OF SUCH CERTIFICATE BY SUCH INSURANCE COMPANY WOULD BE EXEMPT FROM THE PROHIBITED TRANSACTION PROVISIONS OF
SECTIONS 406 AND 407 OF ERISA, AND CODE SECTION 4975 UNDER SECTIONS I AND III OF PTCE 95-60 OR A SUBSTANTIALLY SIMILAR EXEMPTION
UNDER SIMILAR LAW. TRANSFEREES OF THIS CERTIFICATE TAKING DELIVERY IN CERTIFICATED FORM SHALL BE REQUIRED EITHER (i) TO DELIVER
A LETTER IN THE FORM ATTACHED TO THE POOLING AND SERVICING AGREEMENT TO SUCH EFFECT, OR (ii) IF THE TRANSFEREE IS SUCH AN ENTITY
SPECIFIED IN (A) OR (B) ABOVE, SUCH ENTITY SHALL PROVIDE ANY OPINIONS OF COUNSEL, OFFICERS’ CERTIFICATES OR AGREEMENTS AS
MAY BE REQUIRED BY, AND IN FORM AND SUBSTANCE SATISFACTORY TO, THE DEPOSITOR, THE CERTIFICATE ADMINISTRATOR AND THE CERTIFICATE
REGISTRAR, TO THE EFFECT THAT THE PURCHASE AND HOLDING OF THE CERTIFICATES BY OR ON BEHALF OF A PLAN WILL NOT CONSTITUTE OR RESULT
IN A NON-EXEMPT PROHIBITED TRANSACTION WITHIN THE MEANING OF SECTION 406 OR 407 OF ERISA OR CODE SECTION 4975 (OR SIMILAR VIOLATION
OF SIMILAR LAW), AND WILL NOT SUBJECT THE MASTER SERVICER, THE SPECIAL SERVICER, THE DEPOSITOR, THE CERTIFICATE ADMINISTRATOR,
THE OPERATING ADVISOR, THE ASSET REPRESENTATIONS REVIEWER, THE TRUSTEE OR THE CERTIFICATE REGISTRAR TO ANY OBLIGATION OR LIABILITY.
THE TRANSFEREE OF A BENEFICIAL INTEREST IN A “GLOBAL CERTIFICATE” THAT IS A “RESTRICTED CERTIFICATE” (EACH
AS DEFINED IN THE POOLING AND SERVICING AGREEMENT) SHALL BE DEEMED TO REPRESENT THAT IT IS NOT A PLAN OR A PERSON ACTING ON BEHALF
OF ANY PLAN OR USING THE ASSETS OF ANY PLAN TO ACQUIRE SUCH INTEREST, OTHER THAN AN INSURANCE COMPANY USING THE ASSETS OF ITS
GENERAL ACCOUNT UNDER CIRCUMSTANCES WHEREBY SUCH PURCHASE AND THE SUBSEQUENT HOLDING OF SUCH CERTIFICATE BY SUCH INSURANCE COMPANY
WOULD BE EXEMPT FROM THE PROHIBITED TRANSACTION PROVISIONS OF SECTIONS 406 AND 407 OF ERISA, AND CODE SECTION 4975


 








     A-14-3


     


    



  


 UNDER SECTIONS I AND III
OF PTCE 95-60, OR A SUBSTANTIALLY SIMILAR EXEMPTION UNDER SIMILAR LAW.


 


FOR U.S. FEDERAL INCOME TAX PURPOSES,
THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN CODE SECTIONS 860G(a)(1) AND 860D.


 


[THIS CERTIFICATE HAS NOT BEEN AND
WILL NOT BE REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT AND, PRIOR TO THE DATE THAT IS 40 DAYS AFTER THE OFFERING OF THE
CERTIFICATES, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED IN THE UNITED STATES OR TO A U.S. PERSON EXCEPT PURSUANT
TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.]4


    





 






4
For Reg S Global Certificates only.


 


 













     A-14-4


     


    

 


DBJPM 2016-C1 MORTGAGE TRUST COMMERCIAL
MORTGAGE

PASS-THROUGH CERTIFICATES, CLASS H


 


	Class H Pass-Through Rate: 3.250%	 	
        CUSIP:
           23312LAL25

        U2401LAL56

        23312LBH07

         

        ISIN:       US23312LAL278

USU2401LAL549

US23312LBH0610

         

	Original Aggregate Certificate Balance of the

Class H Certificates: $22,496,828	 	Initial Certificate Balance of this Certificate: $[_____]
	 	 	 
	First Distribution Date: May 12, 2016	 	Cut-off Date: The close of business on the later of the related due date for each Mortgage Loan in April 2016 and the date of origination of such Mortgage Loan
	 	 	 
	Assumed Final Distribution Date: April 2026	 	No.: H-[__]


  


This certifies that [_____] is the registered owner of a beneficial ownership interest in a Trust Fund, including the distributions to be made with respect
to the Class H Certificates. The Trust Fund, described more fully below, consists primarily of a pool of Mortgage Loans secured
by first liens on commercial, multifamily and manufactured housing community properties and held in trust by the Trustee and serviced
by the Master Servicer. The Trust Fund was created, and the Mortgage Loans are to be serviced, pursuant to the Pooling and Servicing
Agreement (as defined below). The Holder of this Certificate, by virtue of the acceptance hereof, assents to the terms, provisions
and conditions of the Pooling and Servicing Agreement and is bound thereby.


 


The Pooling and Servicing
Agreement, dated as of April 1, 2016 (the “Pooling and Servicing Agreement”), between the Depositor, Wells Fargo
Bank, National Association, as master servicer (in such capacity, the “Master Servicer”), Midland Loan Services,
a Division of PNC Bank, National Association, as special servicer (the “Special Servicer”), Wilmington Trust,
National Association, as trustee (the “Trustee”), Wells Fargo Bank, National Association, as certificate administrator
(in such capacity, the “Certificate Administrator”), paying agent and custodian, Park Bridge Lender Services
LLC, as operating advisor (in such capacity, the


 





 









5
For Rule 144A Certificates





6
For Regulation S Certificates





7
For IAI Certificates





8
For Rule 144A Certificates





9
For Regulation S Certificates





10 For
IAI Certificates


  





     A-14-5


     


    

 


“Operating Advisor”), and Park Bridge Lender Services
LLC, as asset representations reviewer (in such capacity, the “Asset Representations Reviewer”) evidences
the issuance of the Class A-1, Class A-2, Class A-SB, Class A-3A, Class A-4, Class X-A, Class A-M, Class B, Class C, Class A-3B,
Class X-B, Class X-C, Class X-D, Class X-E, Class X-F, Class D, Class E, Class F, Class G, Class H and Class R Certificates (the
“Certificates”; the Holders of Certificates issued under the Pooling and Servicing Agreement are collectively
referred to herein as “Certificateholders”). This Certificate is issued pursuant to, and in accordance with,
the terms of the Pooling and Servicing Agreement. To the extent not defined herein, capitalized terms used herein shall have the
meanings assigned thereto in the Pooling and Servicing Agreement.


 


This Certificate represents
a “regular interest” in a “real estate mortgage investment conduit”, as those terms are defined, respectively,
in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this Certificate, by acceptance
hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in accordance with the preceding
sentence for purposes of federal income taxes, state and local income and franchise taxes and other taxes imposed on or measured
by income.


 


The Certificate Administrator
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Mortgage Loans and has executed this Certificate in its limited capacity as Certificate Administrator under the Pooling
and Servicing Agreement. In the event that there is any conflict between any provision of this Certificate and any provision of
the Pooling and Servicing Agreement, such provision of this Certificate shall be superseded to the extent of such inconsistency.


 


Pursuant to the terms
of the Pooling and Servicing Agreement, the Certificate Administrator, or the Paying Agent on behalf of the Certificate Administrator,
will distribute (other than the final distribution on any Certificate), on the fourth Business Day after each Determination Date
(each such date, a “Distribution Date”) an amount equal to such Person’s pro rata share (based on the
Percentage Interest represented by this Certificate) of that portion of the aggregate amount of principal and interest then distributable,
if any, allocable to the Class H Certificates for such Distribution Date, all as more fully described in the Pooling and Servicing
Agreement. “Determination Date” is defined in the Pooling and Servicing Agreement as the sixth day of each month, or
if such sixth day is not a Business Day, then the next Business Day, commencing in May 2016.


 


During each Interest
Accrual Period (as defined below), interest on the Class H Certificates will be calculated based on a 360-day year consisting of
twelve 30-day months on the outstanding Certificate Balance hereof.


 


Interest accrued on this
Certificate during an Interest Accrual Period, plus the aggregate unpaid Interest Shortfall with respect to this Certificate, if
any, will be payable on the related Distribution Date to the extent provided in the Pooling and Servicing Agreement. The “Interest
Accrual Period” means, with respect to any Distribution Date, the calendar month immediately preceding the month in which
such Distribution Date occurs. Each Interest Accrual Period is assumed to consist of 30 days.


 













     A-14-6


     


    




 


All distributions (other
than the final distribution on any Certificate) will be made by the Paying Agent to the Persons in whose names the Certificates
are registered at the close of business on each Record Date, which will be the close of business on the last Business Day of the
calendar month preceding the month in which such Distribution Date occurs. Such distributions shall be made on each Distribution
Date other than the Termination Date to each Certificateholder of record on the related Record Date, (i) by wire transfer of immediately
available funds to the account of such Holder at a bank or other entity located in the United States and having appropriate facilities
therefor if such Holder shall have provided the Paying Agent with wire instructions in writing at least five Business Days prior
to the related Record Date (which wiring instructions may be in the form of a standing order applicable to all subsequent distributions),
or (ii) otherwise, by check mailed by first-class mail to the address set forth therefor in the Certificate Register. The final
distribution on each Certificate shall be made in like manner, but only upon presentment and surrender of such Certificate at the
office of the Certificate Administrator or its agent (which may be the Paying Agent or the Certificate Registrar acting as such
agent) that is specified in the notice to Holders of such final distribution.


 


Any funds not distributed
on the Termination Date because of the failure of any Certificateholders to tender their Certificates shall, on such date, be set
aside and held for the benefit of the appropriate non-tendering Certificateholders. If any Certificates as to which notice of the
Termination Date has been given pursuant to the Pooling and Servicing Agreement shall not have been surrendered for cancellation
within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders to surrender their Certificates for cancellation to receive the final distribution with respect
thereto. If within one year after the second notice not all of such Certificates shall have been surrendered for cancellation,
the Certificate Administrator may, directly or through an agent, take appropriate steps to contact the remaining non-tendering
Certificateholders concerning surrender of their Certificates. The costs and expenses of holding such funds in trust and of contacting
such Certificateholders shall be paid out of such funds. Subject to applicable state escheatment laws, if within two years after
the second notice any such Certificates shall not have been surrendered for cancellation, the Paying Agent shall distribute to
the Certificate Administrator all amounts distributable to the Holders thereof, and the Certificate Administrator shall thereafter
hold such amounts for the benefit of such Holders until the earlier of (i) its termination as Certificate Administrator under the
Pooling and Servicing Agreement and the transfer of such amounts to a successor Certificate Administrator and (ii) the termination
of the Trust Fund and distribution of such amounts to the Class R Certificateholders. No interest shall accrue or be payable to
any Certificateholder on any amount held under the Pooling and Servicing Agreement or by the Certificate Administrator as a result
of such Certificateholder’s failure to surrender its Certificate(s) for final payment thereof in accordance with the Pooling
and Servicing Agreement. Any such amounts transferred to the Certificate Administrator may be invested in Permitted Investments
and all income and gain realized from investment of such funds shall accrue for its benefit.


 


This Certificate is limited
in right of payment to, among other things, certain collections and recoveries in respect of the Mortgage Loans, as more specifically
set forth herein and in the Pooling and Servicing Agreement.


 





     A-14-7


     


    




 


As provided in the Pooling
and Servicing Agreement, the Trust Fund includes (in each case, to the extent of the Trust Fund’s interest therein and specifically
excluding any interest of any Serviced Companion Loan Noteholder therein): (i) such Mortgage Loans as from time to time are subject
to the Pooling and Servicing Agreement, together with the Mortgage Files relating thereto; (ii) all scheduled or unscheduled payments
on or collections in respect of the Mortgage Loans due after the Cut-off Date; (iii) the Trust Fund’s interest in any REO
Property; (iv) all revenues received in respect of any REO Property; (v) any Assignments of Leases, Rents and Profits and any security
agreements related to the Mortgage Loans; (vi) any indemnities or guaranties given as additional security for any Mortgage Loans;
(vii) a security interest in all assets deposited in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts, and Reserve
Accounts; (viii) the Loss of Value Reserve Fund; (ix) the Collection Account, the Serviced Whole Loan Collection Accounts, the
Distribution Accounts, any Gain-on-Sale Reserve Account, the Interest Reserve Account, and the Trust’s interest in any REO
Account, including any amounts on deposit therein, assets credited thereto and any reinvestment income, as applicable; (x) a security
interest in any environmental indemnity agreements relating to the Mortgaged Properties; (xi) a security interest in all insurance
policies with respect to the Mortgage Loans and the Mortgaged Properties; (xii) the rights and remedies under the Mortgage Loan
Purchase Agreements relating to document delivery requirements with respect to the Mortgage Loans and the representations and warranties
of the related Mortgage Loan Seller regarding its Mortgage Loans; (xiii) the Lower-Tier Regular Interests and (xiv) the proceeds
of the foregoing (other than any interest earned on deposits in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts
and any Reserve Accounts, to the extent such interest belongs to the related Borrower). As provided in the Pooling and Servicing
Agreement, withdrawals may be made from certain of the above accounts for purposes other than distributions to Certificateholders.


 


This Certificate does
not purport to summarize the Pooling and Servicing Agreement, and reference is made to the Pooling and Servicing Agreement for
the interests, rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and
immunities of the Certificate Administrator.


 


As provided in the Pooling
and Servicing Agreement and subject to certain limitations set forth therein, this Certificate is transferable or exchangeable
only upon surrender of this Certificate to the Certificate Registrar at its offices together with an assignment and transfer (executed
by the Holder or his duly authorized attorney), subject to the requirements in Article V of the Pooling and Servicing Agreement.
Upon surrender for registration of transfer of this Certificate, subject to the requirements Article V of the Pooling and Servicing
Agreement, the Certificate Administrator shall execute and the Authenticating Agent shall duly authenticate in the name of the
designated transferee or transferees, one or more new Certificates in authorized denominations of a like aggregate denomination
as the Certificate being surrendered. Such Certificates shall be delivered by the Certificate Registrar in accordance with Article
V of the Pooling and Servicing Agreement.


 


Prior to due presentation
of this Certificate for registration of transfer, the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor,
the Asset Representations Reviewer, the Certificate Administrator, the Trustee, the Certificate Registrar, any Paying Agent and
any agent of any of them may treat the Person in whose name this


 



     A-14-8


     


    

 


Certificate is registered as the owner hereof for all purposes,
and none of the Depositor, the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Certificate
Registrar, any Paying Agent or any agent of any of them shall be affected by notice or knowledge to the contrary.


 


No fee or service charge
shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer or exchange referred
to in Section 5.02 of the Pooling and Servicing Agreement other than for transfers to Institutional Accredited Investors as provided
in Section 5.02(h) of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional Accredited Investor,
the transferor shall reimburse the Trust Fund for any costs (including the cost of the Certificate Registrar’s counsel’s
review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar as provided
in the Pooling and Servicing Agreement) incurred by the Certificate Registrar in connection with such transfer. The Certificate
Registrar may require payment by each transferor of a sum sufficient to cover any tax, expense or other governmental charge payable
in connection with any such transfer.


 


The Pooling and Servicing
Agreement or any Custodial Agreement may be amended at any time by the Depositor, the Master Servicer, the Special Servicer, the
Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer and the Trustee without the consent of any
of the Certificateholders or any Serviced Companion Loan Noteholders, (i) to cure any ambiguity or to correct any manifest error;
(ii) to cause the provisions of the Pooling and Servicing Agreement or any Custodial Agreement to conform or be consistent with
or in furtherance of the statements made in the Prospectus or Private Placement Memorandum with respect to the Certificates, the
Trust or the Pooling and Servicing Agreement or to correct or supplement any provisions of the Pooling and Servicing Agreement
or any Custodial Agreement which may be defective or inconsistent with any other provisions of the Pooling and Servicing Agreement
or any Custodial Agreement; (iii) to change the timing and/or nature of deposits in the Collection Account, the Distribution Accounts
or any REO Account; provided that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior
to the related Distribution Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder,
as evidenced in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating
Agency Confirmation from each Rating Agency with respect to such amendment; (iv) to modify, eliminate or add to any of its provisions
to such extent as shall be necessary to maintain the qualification of any Trust REMIC as a REMIC under the relevant provisions
of the Code at all times that any Certificate is outstanding, or to avoid or minimize the risk of imposition of any tax on the
Trust Fund or any Trust REMIC that would be a claim against the Trust Fund or any Trust REMIC; provided that the Trustee
and the Certificate Administrator have received an Opinion of Counsel (at the expense of the party requesting such amendment) to
the effect that (a) such action is necessary or desirable to maintain such qualification or to avoid or minimize the risk of the
imposition of any such tax and (b) such action will not adversely affect in any material respect the interests of any Certificateholder
or Companion Loan Noteholder; (v) to modify, eliminate or add to the provisions any provision hereof restricting transfer of the
Class R Certificates; provided the Depositor has determined that such change shall not, as evidenced by an Opinion of Counsel,
cause the Trust Fund, any Trust REMIC or any of the Certificateholders (other than the Transferor) to be subject to a federal tax
caused by a Transfer to a Person that is a


 



     A-14-9


     


    

 


Disqualified Organization or a Non-U.S. Tax Person; (vi) to revise or add any other
provisions with respect to matters or questions arising under this Agreement or any other change; provided that the required
action shall not adversely affect in any material respect the interests of any Certificateholder or any holder of a Serviced Pari
Passu Companion Loan not consenting thereto as evidenced in writing by an Opinion of Counsel, at the expense of the party requesting
such amendment or as evidenced by a Rating Agency Confirmation from each of the Rating Agencies with respect to such amendment
or supplement and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating
agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied
with respect to the Certificates); (vii) to amend or supplement any provision hereof to the extent necessary to maintain the then-current
ratings assigned to each Class of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of
the Rating Agencies and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating
agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied
with respect to the Certificates); provided that such amendment or supplement shall not adversely affect in any material
respect the interests of any Certificateholder not consenting thereto as evidenced by an Opinion of Counsel; (viii) to modify the
provisions of Section 3.06 and Section 3.17 of the Pooling and Servicing Agreement (with respect to reimbursement
of Nonrecoverable Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and,
for so long as a Control Termination Event has not occurred and is not continuing, the Directing Certificateholder, determine that
the commercial mortgage backed securities industry standard for such provisions has changed, in order to conform to such industry
standard, (b) such modification does not adversely affect the status of any Trust REMIC as a REMIC under the relevant provisions
of the Code, as evidenced by an Opinion of Counsel and (c) each Rating Agency has delivered a Rating Agency Confirmation and, with
regard to any class of Serviced Companion Loan Securities, the applicable rating agencies have delivered a confirmation that such
action will not result in the downgrade, withdrawal or qualification of its then-current ratings (provided that such rating
agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied
with respect to the Certificates); (ix) to modify the procedures of this Agreement relating to compliance with Rule 17g-5 of the
Exchange Act; provided that such amendment shall not adversely affect in any material respects the interests of any Certificateholders,
as evidenced by (x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation from each
Rating Agency rating such Certificates; and provided, further, that the Certificate Administrator shall give notice
of any such amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website and the Certificate
Administrator shall post such notice to the Certificate Administrator’s Website; and (x) to modify, eliminate or add to any
provisions of the Pooling and Servicing Agreement to such extent as would be necessary to comply with the requirements for use
of Form SF-3 in registered offerings to the extent provided in CFR 239.45(b)(1)(ii), (iii) or (iv).


 


The Pooling and Servicing
Agreement or any Custodial Agreement may also be amended from time to time by the Depositor, the Master Servicer, the Special Servicer,
the Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer and the






     A-14-10


     


    

 


Trustee with the prior written
consent of the Holders of Certificates representing not less than a majority of the Percentage Interests of each Class of Certificates
affected thereby (without regard to Certificates held by the Depositor, any of the Depositor’s Affiliates and/or agents)
and each Serviced Companion Loan Noteholder affected thereby for the purpose of adding any provisions to or changing in any manner
or eliminating any of the provisions of the Pooling and Servicing Agreement or modifying in any manner the rights of the Certificateholders
or the Serviced Companion Loan Noteholders; provided, that no such amendment may:


 


		(i)	reduce in any manner the amount of, or delay the timing
of, payments received on the Mortgage Loans or Subordinate Companion Loan which are required to be distributed on any Certificate,
without the consent of the Holders of Certificates representing all of the Percentage Interests of the Class or Classes affected
thereby or which are required to be distributed to any Companion Loan Noteholders without the consent of such Companion Loan Noteholders;



		 	 



		(ii)	reduce the aforesaid percentage of Certificates of any
Class the Holders of which are required to consent to any such amendment or remove the requirement to obtain consent of any Companion
Loan Noteholder, in any such case without the consent of the Holders of all Certificates of such Class then-outstanding or such
Companion Loan Noteholder, as applicable;



		 	 



		(iii)	adversely affect the Voting Rights of any Class of Certificates
without the consent of the Holders of all Certificates of such Class then outstanding;



		 	 



		(iv)	change in any manner any defined term used in any Mortgage
Loan Purchase Agreement or the obligations of any Mortgage Loan Seller under such Mortgage Loan Purchase Agreement or otherwise
or change any rights of any Mortgage Loan Seller as a third party beneficiary hereunder, without the consent of such Mortgage
Loan Seller; or



		 	 



		(v)	amend the Servicing Standard without the consent of 100%
of the Certificateholders or receipt of Rating Agency Confirmation from each Rating Agency and confirmation of the applicable
rating agencies that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of
any securities related to a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied
in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates).



 


Further, the Depositor,
the Master Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer
and the Trustee, at any time and from time to time, without the consent of the Certificateholders or, if applicable, the Serviced
Companion Loan Noteholders, may amend the Pooling and Servicing Agreement to modify, eliminate or add to any of its provisions
(i) to such extent as shall be necessary to maintain the qualification of the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC,
or


 



     A-14-11


     


    

 


to prevent the imposition of any additional material state or local taxes, at all times that any Certificates are outstanding;
provided that such action, as evidenced by an Opinion of Counsel (obtained at the expense of the Trust Fund), is
necessary or helpful to maintain such qualification or to prevent the imposition of any such taxes, and would not adversely affect
in any material respect the interest of any Certificateholder or if applicable, any Serviced Companion Loan Noteholder or (ii)
to the extent necessary to comply with the Investment Company Act of 1940, as amended, the Exchange Act, Regulation AB, and/or
any related regulatory actions and/or interpretations.


 


The Certificateholder
owning a majority of the Percentage Interest in the Controlling Class and, if no such Certificateholder exercises such option,
the Special Servicer, and if the Special Servicer does not exercise such option, the Master Servicer may effect an early termination
of the Trust Fund, upon not less than 30 days’ prior Notice of Termination given to the Trustee, the Special Servicer and
the Master Servicer any time specifying the Anticipated Termination Date, which shall be on or after the Early Termination Notice
Date (defined as any date as of which the aggregate Stated Principal Balance of the Mortgage Loans remaining in the Trust is less
than 1.0% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date) by purchasing on such date all,
but not less than all, of the Mortgage Loans then included in the Trust Fund, and the Trust’s interest in all property acquired
in respect of any Mortgage Loan, at a purchase price, payable in cash, equal to the sum of, without duplication:


 


		(A)	100% of the Stated Principal Balance of each Mortgage Loan included in the Trust as of the last
day of the month preceding such Anticipated Termination Date (less any P&I Advances previously made on account of principal);



 


		(B)	the fair market value of all other property included in the Trust Fund as of the last day of the
month preceding such Anticipated Termination Date, as determined by an Independent appraiser acceptable to the Master Servicer
as of a date not more than 30 days prior to the last day of the month preceding such Distribution Date;



 


		(C)	all unpaid interest accrued on the unpaid balance of each Mortgage Loan (including any Mortgage
Loan as to which title to the related Mortgaged Property has been acquired) at the Mortgage Rate to the last day of the month preceding
such Anticipated Termination Date (less any P&I Advances previously made on account of interest); and



 


		(D)	the aggregate amount of unreimbursed
                                         Advances, with interest thereon at the Reimbursement Rate, and unpaid Servicing Compensation,
                                         Special Servicing Compensation, Operating Advisor Fees, Certificate Administrator/Trustee
                                         Fees, the CREFC® Intellectual Property Royalty License Fees and Trust
                                         Fund expenses.



 



     A-14-12


     


    

 





In addition, the Pooling
and Servicing Agreement provides that following the date on which the Class X-A Notional Amount, the Class X-B Notional Amount,
the Class X-C Notional Amount and the aggregate Certificate Balance of the Class A-1, Class A-2, Class A-SB, Class A-3A, Class
A-3B, Class A-4, Class A-M, Class B, Class C and Class D Certificates is reduced to zero, the Sole Certificateholder shall have
the right to exchange all of the then-outstanding Certificates (other than (i) the Class X-D, Class X-E Certificates and Class
X-F Certificates if the Sole Certificateholder has only taken an assignment of the Voting Rights of the Class X-D, Class X-E Certificates
and Class X-F Certificates pursuant to the definition of “Sole Certificateholder” and (ii) the Class R Certificates)
for all of the Mortgage Loans and each REO Property remaining in the Trust Fund as contemplated by clause (ii) of Section 9.01(a)
of the Pooling and Servicing Agreement by giving written notice to all the parties to the Pooling and Servicing Agreement no later
than 60 days prior to the anticipated date of exchange.


 


All costs and expenses
incurred by any and all parties to the Pooling and Servicing Agreement or by the Trust Fund in connection with the purchase of
the Mortgage Loans and the other assets of the Trust Fund pursuant to Section 9.01(c) of the Pooling and Servicing Agreement shall
be borne by the party exercising its purchase rights thereunder. The Trustee and the Certificate Administrator shall be entitled
to rely conclusively on any determination made by an Independent appraiser pursuant to Section 9.01(c) of the Pooling and Servicing
Agreement.


 


The respective obligations
and responsibilities of the Master Servicer, the Special Servicer, the Depositor, the Certificate Administrator, the Operating
Advisor, the Asset Representations Reviewer and the Trustee created by the Pooling and Servicing Agreement with respect to the
Certificates (other than the obligations of the Certificate Administrator to make certain payments and to send certain notices
to Certificateholders as set forth in the Pooling and Servicing Agreement) shall terminate upon payment (or provision for payment)
to the Certificateholders and the Serviced Companion Loan Noteholders of all amounts held by or on behalf of the Trustee, the
Certificate Administrator and the Master Servicer, as the case may be, required under the Pooling and Servicing Agreement to be
so paid on the Distribution Date following the earlier to occur of (i) the purchase of the Mortgage Loans and all other property
held by the Trust Fund in accordance with Section 9.01(c) of the Pooling and Servicing Agreement; (ii) the exchange by the Sole
Certificateholder of its Certificates for the Mortgage Loans in accordance with Section 9.01(g) of the Pooling and Servicing Agreement;
and (iii) the later of (a) the receipt or collection of the last payment due on any Mortgage Loan included in the Trust Fund,
or (b) the liquidation and disposition pursuant to the Pooling and Servicing Agreement of the last asset held by the Trust Fund;
provided that in no event shall the trust created by the Pooling and Servicing Agreement continue beyond the expiration
of 21 years from the death of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States
to the United Kingdom, living on the date hereof.


 


Unless the Certificate
of Authentication on this Certificate has been executed by the Authenticating Agent, by manual signature, this Certificate shall
not be entitled to any benefit under the Pooling and Servicing Agreement or be valid for any purpose.


 









     A-14-13


     


    

 


IN WITNESS WHEREOF, the Certificate Administrator
has caused this Class H Certificate to be duly executed.


 


Dated: April __, 2016


 


	 	WELLS FARGO BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Certificate Administrator
	 	 	 
	 	By:	 
	 	 	Authorized Signatory








 





 Certificate of Authentication


 


This is one of the Class
H Certificates referred to in the Pooling and Servicing Agreement.


 


Dated: April __, 2016


 





	 	WELLS FARGO
BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Authenticating Agent
	 	 	 
	 	By:	 
	 	 	Authorized Signatory


 



     A-14-14


     


    







 





 





EXHIBIT A-15


 


FORM OF CLASS X-A CERTIFICATE


 


[UNLESS THIS CERTIFICATE IS PRESENTED
BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE
REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &
CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]1


 


THIS CERTIFICATE DOES NOT REPRESENT
AN OBLIGATION OF OR INTEREST IN THE DEPOSITOR, THE ORIGINATOR, THE MASTER SERVICER, THE SPECIAL SERVICER, THE CERTIFICATE ADMINISTRATOR,
THE CERTIFICATE REGISTRAR, THE OPERATING ADVISOR, THE ASSET REPRESENTATIONS REVIEWER, THE TRUSTEE OR ANY OF THEIR RESPECTIVE AFFILIATES.
NEITHER THE CERTIFICATES NOR THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY.


 


THE HOLDERS OF THIS CLASS X-A CERTIFICATE
WILL BE ENTITLED ONLY TO DISTRIBUTIONS OF INTEREST ON THE NOTIONAL BALANCE OF THE CLASS X-A CERTIFICATES AND WILL NOT BE ENTITLED
TO ANY DISTRIBUTIONS WITH RESPECT TO PRINCIPAL. THE NOTIONAL BALANCE OF THE CLASS X-A CERTIFICATES IS EQUAL TO AN AMOUNT AS SET
FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW. ACCORDINGLY, THE OUTSTANDING NOTIONAL BALANCE OF THIS CERTIFICATE
AT ANY TIME MAY BE LESS THAN THE INITIAL NOTIONAL BALANCE SET FORTH BELOW.


 


FOR U.S. FEDERAL INCOME TAX PURPOSES,
THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED.


 





 






1
Legend required as long as DTC is the Depository under the Pooling and Servicing Agreement.


 









    	A-15-1



    	 



    

 


DBJPM 2016-C1 MORTGAGE TRUST COMMERCIAL
MORTGAGE

PASS-THROUGH CERTIFICATES, CLASS X-A


 


	Class X-A Pass-Through Rate: Variable	 	
        CUSIP:23312LAW8

         

        ISIN:   US23312LAW81 

	 	 	 
	Original Aggregate Certificate Balance of the

Class X-A Certificates: $637,044,000	 	Initial Certificate Balance of this Certificate: $[500,000,000][137,044,000]
	 	 	 
	First Distribution Date: May 12, 2016	 	Cut-off Date: The close of business on the later of the related due date for each Mortgage Loan in April 2016 and the date of origination of such Mortgage Loan
	 	 	 
	Assumed Final Distribution Date: February 2026	 	No.: X-A-[_]


  


This certifies that [______] is the registered owner of a beneficial ownership interest in a Trust Fund, including the distributions to be made with respect
to the Class X-A Certificates. The Trust Fund, described more fully below, consists primarily of a pool of Mortgage Loans secured
by first liens on commercial, multifamily and manufactured housing community properties and held in trust by the Trustee and serviced
by the Master Servicer. The Trust Fund was created, and the Mortgage Loans are to be serviced, pursuant to the Pooling and Servicing
Agreement (as defined below). The Holder of this Certificate, by virtue of the acceptance hereof, assents to the terms, provisions
and conditions of the Pooling and Servicing Agreement and is bound thereby.


 


The Pooling and Servicing
Agreement, dated as of April 1, 2016 (the “Pooling and Servicing Agreement”), between the Depositor, Wells Fargo
Bank, National Association, as master servicer (in such capacity, the “Master Servicer”), Midland Loan Services,
a Division of PNC Bank, National Association, as special servicer (the “Special Servicer”), Wilmington Trust,
National Association, as trustee (the “Trustee”), Wells Fargo Bank, National Association, as certificate administrator
(in such capacity, the “Certificate Administrator”), paying agent and custodian, Park Bridge Lender Services
LLC, as operating advisor (in such capacity, the “Operating Advisor”), and Park Bridge Lender Services
LLC, as asset representations reviewer (in such capacity, the “Asset Representations Reviewer”) evidences
the issuance of the Class A-1, Class A-2, Class A-SB, Class A-3A, Class A-4, Class X-A, Class A-M, Class B, Class C, Class A-3B,
Class X-B, Class X-C, Class X-D, Class X-E, Class X-F, Class D, Class E, Class F, Class G, Class H and Class R Certificates (the
“Certificates”; the Holders of Certificates issued under the Pooling and Servicing Agreement are collectively
referred to herein as “Certificateholders”). This Certificate is issued pursuant to, and in accordance with,
the terms of the Pooling and Servicing Agreement. To the extent not defined herein, capitalized terms used herein shall have the
meanings assigned thereto in the Pooling and Servicing Agreement.


 



    	A-15-2



    	 



    




 


This Certificate represents
a “regular interest” in a “real estate mortgage investment conduit”, as those terms are defined, respectively,
in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this Certificate, by acceptance
hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in accordance with the preceding
sentence for purposes of federal income taxes, state and local income and franchise taxes and other taxes imposed on or measured
by income.


 


The Certificate Administrator
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Mortgage Loans and has executed this Certificate in its limited capacity as Certificate Administrator under the Pooling
and Servicing Agreement. In the event that there is any conflict between any provision of this Certificate and any provision of
the Pooling and Servicing Agreement, such provision of this Certificate shall be superseded to the extent of such inconsistency.


 


Pursuant to the terms
of the Pooling and Servicing Agreement, the Certificate Administrator, or the Paying Agent on behalf of the Certificate Administrator,
will distribute (other than the final distribution on any Certificate), on the fourth Business Day after each Determination Date
(each such date, a “Distribution Date”) an amount equal to such Person’s pro rata share (based on the
Percentage Interest represented by this Certificate) of that portion of the aggregate amount of interest then distributable, if
any, allocable to the Class X-A Certificates for such Distribution Date, all as more fully described in the Pooling and Servicing
Agreement. “Determination Date” is defined in the Pooling and Servicing Agreement as the sixth day of each month, or
if such sixth day is not a Business Day, then the next Business Day, commencing in May 2016. Holders of this Certificate may be
entitled to Prepayment Premiums and Yield Maintenance Charges as provided in the Pooling and Servicing Agreement.


 


During each Interest
Accrual Period (as defined below), interest on the Class X-A Certificates will be calculated based on a 360-day year consisting
of twelve 30-day months on the outstanding Notional Balance hereof.


 


Interest accrued on this
Certificate during an Interest Accrual Period, plus the aggregate unpaid Interest Shortfall with respect to this Certificate, if
any, will be payable on the related Distribution Date to the extent provided in the Pooling and Servicing Agreement. The “Interest
Accrual Period” means, with respect to any Distribution Date, the calendar month immediately preceding the month in which
such Distribution Date occurs. Each Interest Accrual Period is assumed to consist of 30 days.


 


All distributions (other
than the final distribution on any Certificate) will be made by the Paying Agent to the Persons in whose names the Certificates
are registered at the close of business on each Record Date, which will be the close of business on the last Business Day of the
calendar month preceding the month in which such Distribution Date occurs. Such distributions shall be made on each Distribution
Date other than the Termination Date to each Certificateholder of record on the related Record Date, (i) by wire transfer of immediately
available funds to the account of such Holder at a bank or other entity located in the United States and having appropriate facilities
therefor if such Holder shall have provided the Paying Agent with wire instructions in writing at least five Business Days prior
to the related Record Date (which wiring instructions may be in the form of a standing order applicable to all


 



    	A-15-3



    	 



    

 


subsequent distributions),
or (ii) otherwise, by check mailed by first-class mail to the address set forth therefor in the Certificate Register. The final
distribution on each Certificate shall be made in like manner, but only upon presentment and surrender of such Certificate at the
office of the Certificate Administrator or its agent (which may be the Paying Agent or the Certificate Registrar acting as such
agent) that is specified in the notice to Holders of such final distribution.


 


Any funds not distributed
on the Termination Date because of the failure of any Certificateholders to tender their Certificates shall, on such date, be set
aside and held for the benefit of the appropriate non-tendering Certificateholders. If any Certificates as to which notice of the
Termination Date has been given pursuant to the Pooling and Servicing Agreement shall not have been surrendered for cancellation
within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders to surrender their Certificates for cancellation to receive the final distribution with respect
thereto. If within one year after the second notice not all of such Certificates shall have been surrendered for cancellation,
the Certificate Administrator may, directly or through an agent, take appropriate steps to contact the remaining non-tendering
Certificateholders concerning surrender of their Certificates. The costs and expenses of holding such funds in trust and of contacting
such Certificateholders shall be paid out of such funds. Subject to applicable state escheatment laws, if within two years after
the second notice any such Certificates shall not have been surrendered for cancellation, the Paying Agent shall distribute to
the Certificate Administrator all amounts distributable to the Holders thereof, and the Certificate Administrator shall thereafter
hold such amounts for the benefit of such Holders until the earlier of (i) its termination as Certificate Administrator under the
Pooling and Servicing Agreement and the transfer of such amounts to a successor Certificate Administrator and (ii) the termination
of the Trust Fund and distribution of such amounts to the Class R Certificateholders. No interest shall accrue or be payable to
any Certificateholder on any amount held under the Pooling and Servicing Agreement or by the Certificate Administrator as a result
of such Certificateholder’s failure to surrender its Certificate(s) for final payment thereof in accordance with the Pooling
and Servicing Agreement. Any such amounts transferred to the Certificate Administrator may be invested in Permitted Investments
and all income and gain realized from investment of such funds shall accrue for its benefit.


 


This Certificate is limited
in right of payment to, among other things, certain collections and recoveries in respect of the Mortgage Loans, as more specifically
set forth herein and in the Pooling and Servicing Agreement.


 


As provided in the Pooling
and Servicing Agreement, the Trust Fund includes (in each case, to the extent of the Trust Fund’s interest therein and specifically
excluding any interest of any Serviced Companion Loan Noteholder therein): (i) such Mortgage Loans as from time to time are subject
to the Pooling and Servicing Agreement, together with the Mortgage Files relating thereto; (ii) all scheduled or unscheduled payments
on or collections in respect of the Mortgage Loans due after the Cut-off Date; (iii) the Trust Fund’s interest in any REO
Property; (iv) all revenues received in respect of any REO Property; (v) any Assignments of Leases, Rents and Profits and any security
agreements related to the Mortgage Loans; (vi) any indemnities or guaranties given as additional security for any Mortgage Loans;
(vii) a security interest in all assets deposited in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts, and Reserve
Accounts; (viii) the Loss of Value Reserve Fund; (ix) the Collection


 



    	A-15-4



    	 



    

 


Account, the Serviced Whole Loan Collection Accounts, the
Distribution Accounts, any Gain-on-Sale Reserve Account, the Interest Reserve Account, and the Trust’s interest in any REO
Account, including any amounts on deposit therein, assets credited thereto and any reinvestment income, as applicable; (x) a security
interest in any environmental indemnity agreements relating to the Mortgaged Properties; (xi) a security interest in all insurance
policies with respect to the Mortgage Loans and the Mortgaged Properties; (xii) the rights and remedies under the Mortgage Loan
Purchase Agreements relating to document delivery requirements with respect to the Mortgage Loans and the representations and warranties
of the related Mortgage Loan Seller regarding its Mortgage Loans; (xiii) the Lower-Tier Regular Interests and (xiv) the proceeds
of the foregoing (other than any interest earned on deposits in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts
and any Reserve Accounts, to the extent such interest belongs to the related Borrower). As provided in the Pooling and Servicing
Agreement, withdrawals may be made from certain of the above accounts for purposes other than distributions to Certificateholders.


 


This Certificate does
not purport to summarize the Pooling and Servicing Agreement, and reference is made to the Pooling and Servicing Agreement for
the interests, rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and
immunities of the Certificate Administrator.


 


As provided in the Pooling
and Servicing Agreement and subject to certain limitations set forth therein, this Certificate is transferable or exchangeable
only upon surrender of this Certificate to the Certificate Registrar at its offices together with an assignment and transfer (executed
by the Holder or his duly authorized attorney), subject to the requirements in Article V of the Pooling and Servicing Agreement.
Upon surrender for registration of transfer of this Certificate, subject to the requirements Article V of the Pooling and Servicing
Agreement, the Certificate Administrator shall execute and the Authenticating Agent shall duly authenticate in the name of the
designated transferee or transferees, one or more new Certificates in authorized denominations of a like aggregate denomination
as the Certificate being surrendered. Such Certificates shall be delivered by the Certificate Registrar in accordance with Article
V of the Pooling and Servicing Agreement.


 


Prior to due presentation
of this Certificate for registration of transfer, the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor,
the Asset Representations Reviewer, the Certificate Administrator, the Trustee, the Certificate Registrar, any Paying Agent and
any agent of any of them may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes,
and none of the Depositor, the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Certificate
Registrar, any Paying Agent or any agent of any of them shall be affected by notice or knowledge to the contrary.


 


No fee or service charge
shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer or exchange referred
to in Section 5.02 of the Pooling and Servicing Agreement other than for transfers to Institutional Accredited Investors as provided
in Section 5.02(h) of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional Accredited Investor,
the transferor shall reimburse the Trust Fund for any costs (including the cost of the Certificate Registrar’s counsel’s
review of the documents and


 



    	A-15-5



    	 



    

 


any legal opinions, submitted by the transferor or transferee to the Certificate Registrar as provided
in the Pooling and Servicing Agreement) incurred by the Certificate Registrar in connection with such transfer. The Certificate
Registrar may require payment by each transferor of a sum sufficient to cover any tax, expense or other governmental charge payable
in connection with any such transfer.


 


The Pooling and Servicing
Agreement or any Custodial Agreement may be amended at any time by the Depositor, the Master Servicer, the Special Servicer, the
Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer and the Trustee without the consent of any
of the Certificateholders or any Serviced Companion Loan Noteholders, (i) to cure any ambiguity or to correct any manifest error;
(ii) to cause the provisions of the Pooling and Servicing Agreement or any Custodial Agreement to conform or be consistent with
or in furtherance of the statements made in the Prospectus or Private Placement Memorandum with respect to the Certificates, the
Trust or the Pooling and Servicing Agreement or to correct or supplement any provisions of the Pooling and Servicing Agreement
or any Custodial Agreement which may be defective or inconsistent with any other provisions of the Pooling and Servicing Agreement
or any Custodial Agreement; (iii) to change the timing and/or nature of deposits in the Collection Account, the Distribution Accounts
or any REO Account; provided that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior
to the related Distribution Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder,
as evidenced in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating
Agency Confirmation from each Rating Agency with respect to such amendment; (iv) to modify, eliminate or add to any of its provisions
to such extent as shall be necessary to maintain the qualification of any Trust REMIC as a REMIC under the relevant provisions
of the Code at all times that any Certificate is outstanding, or to avoid or minimize the risk of imposition of any tax on the
Trust Fund or any Trust REMIC that would be a claim against the Trust Fund or any Trust REMIC; provided that the Trustee
and the Certificate Administrator have received an Opinion of Counsel (at the expense of the party requesting such amendment) to
the effect that (a) such action is necessary or desirable to maintain such qualification or to avoid or minimize the risk of the
imposition of any such tax and (b) such action will not adversely affect in any material respect the interests of any Certificateholder
or Companion Loan Noteholder; (v) to modify, eliminate or add to the provisions any provision hereof restricting transfer of the
Class R Certificates; provided the Depositor has determined that such change shall not, as evidenced by an Opinion of Counsel,
cause the Trust Fund, any Trust REMIC or any of the Certificateholders (other than the Transferor) to be subject to a federal tax
caused by a Transfer to a Person that is a Disqualified Organization or a Non-U.S. Tax Person; (vi) to revise or add any other
provisions with respect to matters or questions arising under this Agreement or any other change; provided that the required
action shall not adversely affect in any material respect the interests of any Certificateholder or any holder of a Serviced Pari
Passu Companion Loan not consenting thereto as evidenced in writing by an Opinion of Counsel, at the expense of the party requesting
such amendment or as evidenced by a Rating Agency Confirmation from each of the Rating Agencies with respect to such amendment
or supplement and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating
agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied
with respect to the Certificates); (vii) to amend or


 



    	A-15-6



    	 



    

 


supplement any provision hereof to the extent necessary to maintain the then-current
ratings assigned to each Class of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of
the Rating Agencies and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating
agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied
with respect to the Certificates); provided that such amendment or supplement shall not adversely affect in any material
respect the interests of any Certificateholder not consenting thereto as evidenced by an Opinion of Counsel; (viii) to modify the
provisions of Section 3.06 and Section 3.17 of the Pooling and Servicing Agreement (with respect to reimbursement
of Nonrecoverable Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and,
for so long as a Control Termination Event has not occurred and is not continuing, the Directing Certificateholder, determine that
the commercial mortgage backed securities industry standard for such provisions has changed, in order to conform to such industry
standard, (b) such modification does not adversely affect the status of any Trust REMIC as a REMIC under the relevant provisions
of the Code, as evidenced by an Opinion of Counsel and (c) each Rating Agency has delivered a Rating Agency Confirmation and, with
regard to any class of Serviced Companion Loan Securities, the applicable rating agencies have delivered a confirmation that such
action will not result in the downgrade, withdrawal or qualification of its then-current ratings (provided that such rating
agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied
with respect to the Certificates); (ix) to modify the procedures of this Agreement relating to compliance with Rule 17g-5 of the
Exchange Act; provided that such amendment shall not adversely affect in any material respects the interests of any Certificateholders,
as evidenced by (x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation from each
Rating Agency rating such Certificates; and provided, further, that the Certificate Administrator shall give notice
of any such amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website and the Certificate
Administrator shall post such notice to the Certificate Administrator’s Website; and (x) to modify, eliminate or add to any
provisions of the Pooling and Servicing Agreement to such extent as would be necessary to comply with the requirements for use
of Form SF-3 in registered offerings to the extent provided in CFR 239.45(b)(1)(ii), (iii) or (iv).


 


The Pooling and Servicing
Agreement or any Custodial Agreement may also be amended from time to time by the Depositor, the Master Servicer, the Special Servicer,
the Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer and the Trustee with the prior written
consent of the Holders of Certificates representing not less than a majority of the Percentage Interests of each Class of Certificates
affected thereby (without regard to Certificates held by the Depositor, any of the Depositor’s Affiliates and/or agents)
and each Serviced Companion Loan Noteholder affected thereby for the purpose of adding any provisions to or changing in any manner
or eliminating any of the provisions of the Pooling and Servicing Agreement or modifying in any manner the rights of the Certificateholders
or the Serviced Companion Loan Noteholders; provided, that no such amendment may:


 


		(i)	reduce in any manner the amount of, or delay the timing
of, payments received on the Mortgage Loans or Subordinate Companion Loan which are required to be distributed on any Certificate,
without the consent of the



 



    	A-15-7



    	 



    

 




			Holders of Certificates representing all of the Percentage Interests of the Class or Classes
                                                                            affected thereby or which are required to be distributed to any Companion Loan Noteholders without the consent of such
                                                                            Companion Loan Noteholders;



 


		(ii)	reduce the aforesaid percentage of Certificates of any
Class the Holders of which are required to consent to any such amendment or remove the requirement to obtain consent of any Companion
Loan Noteholder, in any such case without the consent of the Holders of all Certificates of such Class then-outstanding or such
Companion Loan Noteholder, as applicable;



		 	 



		(iii)	adversely affect the Voting Rights of any Class of Certificates
without the consent of the Holders of all Certificates of such Class then outstanding;



		 	 



		(iv)	change in any manner any defined term used in any Mortgage
Loan Purchase Agreement or the obligations of any Mortgage Loan Seller under such Mortgage Loan Purchase Agreement or otherwise
or change any rights of any Mortgage Loan Seller as a third party beneficiary hereunder, without the consent of such Mortgage
Loan Seller; or



		 	 



		(v)	amend the Servicing Standard without the consent of 100%
of the Certificateholders or receipt of Rating Agency Confirmation from each Rating Agency and confirmation of the applicable
rating agencies that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of
any securities related to a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied
in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates).



 


Further, the Depositor,
the Master Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer
and the Trustee, at any time and from time to time, without the consent of the Certificateholders or, if applicable, the Serviced
Companion Loan Noteholders, may amend the Pooling and Servicing Agreement to modify, eliminate or add to any of its provisions
(i) to such extent as shall be necessary to maintain the qualification of the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC,
or to prevent the imposition of any additional material state or local taxes, at all times that any Certificates are outstanding;
provided that such action, as evidenced by an Opinion of Counsel (obtained at the expense of the Trust Fund), is
necessary or helpful to maintain such qualification or to prevent the imposition of any such taxes, and would not adversely affect
in any material respect the interest of any Certificateholder or if applicable, any Serviced Companion Loan Noteholder or (ii)
to the extent necessary to comply with the Investment Company Act of 1940, as amended, the Exchange Act, Regulation AB, and/or
any related regulatory actions and/or interpretations.


 


The Certificateholder
owning a majority of the Percentage Interest in the Controlling Class and, if no such Certificateholder exercises such option,
the Special Servicer,


 



    	A-15-8



    	 



    

 


and if the Special Servicer does not exercise such option, the Master Servicer may effect an early termination
of the Trust Fund, upon not less than 30 days’ prior Notice of Termination given to the Trustee, the Special Servicer and
the Master Servicer any time specifying the Anticipated Termination Date, which shall be on or after the Early Termination Notice
Date (defined as any date as of which the aggregate Stated Principal Balance of the Mortgage Loans remaining in the Trust is less
than 1.0% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date) by purchasing on such date all,
but not less than all, of the Mortgage Loans then included in the Trust Fund, and the Trust’s interest in all property acquired
in respect of any Mortgage Loan, at a purchase price, payable in cash, equal to the sum of, without duplication:


 


		(A)	100% of the Stated Principal Balance of each Mortgage Loan included in the Trust as of the last
day of the month preceding such Anticipated Termination Date (less any P&I Advances previously made on account of principal);



 


		(B)	the fair market value of all other property included in the Trust Fund as of the last day of the
month preceding such Anticipated Termination Date, as determined by an Independent appraiser acceptable to the Master Servicer
as of a date not more than 30 days prior to the last day of the month preceding such Distribution Date;



 


		(C)	all unpaid interest accrued on the unpaid balance of each Mortgage Loan (including any Mortgage
Loan as to which title to the related Mortgaged Property has been acquired) at the Mortgage Rate to the last day of the month preceding
such Anticipated Termination Date (less any P&I Advances previously made on account of interest); and



 


		(D)	the aggregate amount of unreimbursed
                                         Advances, with interest thereon at the Reimbursement Rate, and unpaid Servicing Compensation,
                                         Special Servicing Compensation, Operating Advisor Fees, Certificate Administrator/Trustee
                                         Fees, the CREFC® Intellectual Property Royalty License Fees and Trust
                                         Fund expenses.



 


In addition, the Pooling
and Servicing Agreement provides that following the date on which the Class X-A Notional Amount, the Class X-B Notional Amount,
the Class X-C Notional Amount and the aggregate Certificate Balance of the Class A-1, Class A-2, Class A-SB, Class A-3A, Class
A-3B, Class A-4, Class A-M, Class B, Class C and Class D Certificates is reduced to zero, the Sole Certificateholder shall have
the right to exchange all of the then-outstanding Certificates (other than (i) the Class X-D, Class X-E Certificates and Class
X-F Certificates if the Sole Certificateholder has only taken an assignment of the Voting Rights of the Class X-D, Class X-E Certificates
and Class X-F Certificates pursuant to the definition of “Sole Certificateholder” and (ii) the Class R Certificates)
for all of the Mortgage Loans and each REO Property remaining in the Trust Fund as contemplated by clause (ii) of Section 9.01(a)
of the


 



    	A-15-9



    	 



    

 


Pooling and Servicing Agreement by giving written notice to all the parties to the Pooling and Servicing Agreement no later
than 60 days prior to the anticipated date of exchange.


 


All costs and expenses
incurred by any and all parties to the Pooling and Servicing Agreement or by the Trust Fund in connection with the purchase of
the Mortgage Loans and the other assets of the Trust Fund pursuant to Section 9.01(c) of the Pooling and Servicing Agreement shall
be borne by the party exercising its purchase rights thereunder. The Trustee and the Certificate Administrator shall be entitled
to rely conclusively on any determination made by an Independent appraiser pursuant to Section 9.01(c) of the Pooling and Servicing
Agreement.


 


The respective obligations
and responsibilities of the Master Servicer, the Special Servicer, the Depositor, the Certificate Administrator, the Operating
Advisor, the Asset Representations Reviewer and the Trustee created by the Pooling and Servicing Agreement with respect to the
Certificates (other than the obligations of the Certificate Administrator to make certain payments and to send certain notices
to Certificateholders as set forth in the Pooling and Servicing Agreement) shall terminate upon payment (or provision for payment)
to the Certificateholders and the Serviced Companion Loan Noteholders of all amounts held by or on behalf of the Trustee, the
Certificate Administrator and the Master Servicer, as the case may be, required under the Pooling and Servicing Agreement to be
so paid on the Distribution Date following the earlier to occur of (i) the purchase of the Mortgage Loans and all other property
held by the Trust Fund in accordance with Section 9.01(c) of the Pooling and Servicing Agreement; (ii) the exchange by the Sole
Certificateholder of its Certificates for the Mortgage Loans in accordance with Section 9.01(g) of the Pooling and Servicing Agreement;
and (iii) the later of (a) the receipt or collection of the last payment due on any Mortgage Loan included in the Trust Fund,
or (b) the liquidation and disposition pursuant to the Pooling and Servicing Agreement of the last asset held by the Trust Fund;
provided that in no event shall the trust created by the Pooling and Servicing Agreement continue beyond the expiration
of 21 years from the death of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States
to the United Kingdom, living on the date hereof.


 


Unless the Certificate
of Authentication on this Certificate has been executed by the Authenticating Agent, by manual signature, this Certificate shall
not be entitled to any benefit under the Pooling and Servicing Agreement or be valid for any purpose.


 









    	A-15-10



    	 



    

 


 


IN WITNESS WHEREOF, the
Certificate Administrator has caused this Class X-A Certificate to be duly executed.


 


Dated: April __, 2016


 





	 	WELLS FARGO
BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Certificate Administrator
	 	 	 
	 	By:	 
	 	 	Authorized Signatory


 





Certificate of Authentication


 


This is one of the Class
X-A Certificates referred to in the Pooling and Servicing Agreement.


 


Dated: April __, 2016


 





	 	WELLS FARGO
BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Authenticating Agent
	 	 	 
	 	By:	 
	 	 	Authorized Signatory


 






    	A-15-11



    	 



    





EXHIBIT A-16


 


FORM OF CLASS X-B [RULE 144A]1
[REG S]2 CERTIFICATE


 


[UNLESS THIS CERTIFICATE IS PRESENTED BY AN
AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE
REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &
CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]3


 


THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE
REGISTERED OR QUALIFIED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE
OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED, RESOLD,
PLEDGED OR OTHERWISE TRANSFERRED ONLY IN COMPLIANCE WITH THE SECURITIES ACT AND OTHER APPLICABLE LAWS, AND ONLY (A)(1) PURSUANT
TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (2) FOR SO LONG AS THIS CERTIFICATE IS
ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”), TO AN INSTITUTIONAL INVESTOR
THAT THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING OF RULE 144A (“QUALIFIED
INSTITUTIONAL BUYER”), PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF ANOTHER QUALIFIED INSTITUTIONAL BUYER, WHOM
THE HOLDER HAS INFORMED, IN EACH CASE, THAT THE REOFFER, RESALE, PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A,
(3) TO AN INSTITUTIONAL “ACCREDITED INVESTOR,” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION
D UNDER THE SECURITIES ACT OR ANY ENTITY IN WHICH ALL OF THE EQUITY OWNERS ARE SUCH ACCREDITED INVESTORS, OR (4) TO INSTITUTIONS
THAT ARE A NON-“U.S. PERSON” IN AN “OFFSHORE TRANSACTION,” AS SUCH TERMS ARE DEFINED IN, AND IN ACCORDANCE
WITH RULE 903 OR RULE 904 OF, REGULATION S UNDER THE SECURITIES ACT, AND (B) IN ACCORDANCE WITH ANY OTHER APPLICABLE SECURITIES
LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION.


 





 



1 For Rule
144A Global Certificates only. 


2 For Reg
S Global Certificates only.





3 Legend required
as long as DTC is the Depository under the Pooling and Servicing Agreement.


 






    	A-16-1



    	 



    

 


ANY HOLDER DESIRING TO EFFECT A TRANSFER OF
THIS CERTIFICATE SHALL, AND DOES HEREBY AGREE TO, INDEMNIFY THE CERTIFICATE REGISTRAR, THE CERTIFICATE ADMINISTRATOR, THE CERTIFICATE
REGISTRAR, THE TRUSTEE, THE MASTER SERVICER AND THE DEPOSITOR AGAINST ANY LOSS, LIABILITY OR EXPENSE THAT MAY RESULT IF THE TRANSFER
IS NOT EXEMPT FROM THE SECURITIES ACT OR IS NOT MADE IN ACCORDANCE WITH FEDERAL AND STATE LAWS.


 


THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION
OF OR INTEREST IN THE DEPOSITOR, THE ORIGINATOR, THE MASTER SERVICER, THE SPECIAL SERVICER, THE CERTIFICATE ADMINISTRATOR, THE
OPERATING ADVISOR, THE ASSET REPRESENTATIONS REVIEWER, THE TRUSTEE OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THE CERTIFICATES
NOR THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY.


 


THE HOLDERS OF THIS CLASS X-B CERTIFICATE
WILL BE ENTITLED ONLY TO DISTRIBUTIONS OF INTEREST ON THE NOTIONAL BALANCE OF THE CLASS X-B CERTIFICATES AND WILL NOT BE ENTITLED
TO ANY DISTRIBUTIONS WITH RESPECT TO PRINCIPAL. THE NOTIONAL BALANCE OF THE CLASS X-B CERTIFICATES IS EQUAL TO AN AMOUNT AS
SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW. ACCORDINGLY, THE OUTSTANDING NOTIONAL BALANCE OF THIS CERTIFICATE
AT ANY TIME MAY BE LESS THAN THE INITIAL NOTIONAL BALANCE SET FORTH BELOW.


 


TRANSFERS AND EXCHANGES OF PORTIONS OF THIS
CERTIFICATE ARE SUBJECT TO RESTRICTIONS AS PROVIDED IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.


 


FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE
REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE TERMS ARE DEFINED,
RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED.


 


[THIS CERTIFICATE HAS NOT BEEN AND WILL NOT
BE REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT AND, PRIOR TO THE DATE THAT IS 40 DAYS AFTER THE OFFERING OF THE CERTIFICATES,
MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED IN THE UNITED STATES OR TO A U.S. PERSON EXCEPT PURSUANT TO AN EXEMPTION
FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.]4


 





 






4 
For Reg S Global Certificates only.


 






    	A-16-2



    	 



    

 





DBJPM 2016-C1 MORTGAGE TRUST

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, CLASS X-B


 


	
        Class X-B Pass-Through Rate: Variable

         

         

         
	 	
        CUSIP:    23312LAB45

         U2401LAB76

         23312LAY47

         

        ISIN:        US23312LAB458

         USU2401LAB729

         US23312LAY4810

         

	Original Aggregate Notional Balance of the

Class X-B Certificates:  $85,894,000	 	Initial Notional Balance of this Certificate:  $[_____]
	 	 	 
	First Distribution Date:  May 12, 2016	 	Cut-off Date:  The close of business on the later of the related due date for each Mortgage Loan in April 2016 and the date of origination of such Mortgage Loan
	 	 	 
	Assumed Final Distribution Date:  March 2026	 	No.:  X-B-[__]





 


This certifies that [              ]
is the registered owner of a beneficial ownership interest in a Trust Fund, including the distributions to be made with respect
to the Class X-B Certificates. The Trust Fund, described more fully below, consists primarily of a pool of Mortgage Loans
secured by first liens on commercial, multifamily and manufactured housing community properties and held in trust by the Trustee
and serviced by the Master Servicer. The Trust Fund was created, and the Mortgage Loans are to be serviced, pursuant to the Pooling
and Servicing Agreement (as defined below). The Holder of this Certificate, by virtue of the acceptance hereof, assents to the
terms, provisions and conditions of the Pooling and Servicing Agreement and is bound thereby.


 


The Pooling and Servicing Agreement,
dated as of April 1, 2016 (the “Pooling and Servicing Agreement”), between the Depositor, Wells Fargo Bank,
National Association, as master servicer (in such capacity, the “Master Servicer”), Midland Loan Services, a
Division of PNC Bank, National Association, as special servicer (the “Special Servicer”), Wilmington Trust,
National Association, as trustee (the “Trustee”), Wells Fargo Bank, National Association, as certificate administrator
(in such capacity, the “Certificate Administrator”), paying agent and


 





 









5 For
Rule 144A Certificates





6
 For Regulation S Certificates 


7
For IAI Certificates





8 For
Rule 144A Certificates 


9 For
Regulation S Certificates





10 For IAI Certificates 




 









    	A-16-3



    	 



    

 


custodian,
Park Bridge Lender Services LLC, as operating advisor (in such capacity, the “Operating
Advisor”), and Park Bridge Lender Services LLC, as asset representations
reviewer (in such capacity, the “Asset Representations Reviewer”) evidences the issuance of the Class A-1,
Class A-2, Class A-SB, Class A-3A, Class A-4, Class X-A, Class A-M, Class B, Class C, Class A-3B, Class X-B,
Class X-C, Class X-D, Class X-E, Class X-F, Class D, Class E, Class F, Class G, Class H and Class R Certificates
(the “Certificates”; the Holders of Certificates issued under the Pooling and Servicing Agreement are collectively
referred to herein as “Certificateholders”). This Certificate is issued pursuant to, and in accordance with,
the terms of the Pooling and Servicing Agreement. To the extent not defined herein, capitalized terms used herein shall have the
meanings assigned thereto in the Pooling and Servicing Agreement.


 


This Certificate represents a
“regular interest” in a “real estate mortgage investment conduit”, as those terms are defined, respectively,
in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this Certificate, by acceptance
hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in accordance with the preceding
sentence for purposes of federal income taxes, state and local income and franchise taxes and other taxes imposed on or measured
by income.


 


The Certificate Administrator
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Mortgage Loans and has executed this Certificate in its limited capacity as Certificate Administrator under the Pooling
and Servicing Agreement. In the event that there is any conflict between any provision of this Certificate and any provision of
the Pooling and Servicing Agreement, such provision of this Certificate shall be superseded to the extent of such inconsistency.


 


Pursuant to the terms of the
Pooling and Servicing Agreement, the Certificate Administrator, or the Paying Agent on behalf of the Certificate Administrator,
will distribute (other than the final distribution on any Certificate), on the fourth Business Day after each Determination Date
(each such date, a “Distribution Date”) an amount equal to such Person’s pro rata share (based on the
Percentage Interest represented by this Certificate) of that portion of the aggregate amount of interest then distributable, if
any, allocable to the Class X-B Certificates for such Distribution Date, all as more fully described in the Pooling and Servicing
Agreement. “Determination Date” is defined in the Pooling and Servicing Agreement as the sixth day of each month, or
if such sixth day is not a Business Day, then the next Business Day, commencing in May 2016. Holders of this Certificate may be
entitled to Prepayment Premiums and Yield Maintenance Charges as provided in the Pooling and Servicing Agreement.


 


During each Interest Accrual
Period (as defined below), interest on the Class X-B Certificates will be calculated based on a 360-day year consisting of
twelve 30-day months on the outstanding Notional Balance hereof.


 


Interest accrued on this Certificate
during an Interest Accrual Period, plus the aggregate unpaid Interest Shortfall with respect to this Certificate, if any, will
be payable on the related Distribution Date to the extent provided in the Pooling and Servicing Agreement. The “Interest
Accrual Period” means, with respect to any Distribution Date, the calendar month immediately preceding the month in which
such Distribution Date occurs. Each Interest Accrual Period is assumed to consist of 30 days.


 






    	A-16-4



    	 



    




 


All distributions (other than
the final distribution on any Certificate) will be made by the Paying Agent to the Persons in whose names the Certificates are
registered at the close of business on each Record Date, which will be the close of business on the last Business Day of the calendar
month preceding the month in which such Distribution Date occurs. Such distributions shall be made on each Distribution Date other
than the Termination Date to each Certificateholder of record on the related Record Date, (i) by wire transfer of immediately available
funds to the account of such Holder at a bank or other entity located in the United States and having appropriate facilities therefor
if such Holder shall have provided the Paying Agent with wire instructions in writing at least five Business Days prior to the
related Record Date (which wiring instructions may be in the form of a standing order applicable to all subsequent distributions),
or (ii) otherwise, by check mailed by first-class mail to the address set forth therefor in the Certificate Register. The final
distribution on each Certificate shall be made in like manner, but only upon presentment and surrender of such Certificate at the
office of the Certificate Administrator or its agent (which may be the Paying Agent or the Certificate Registrar acting as such
agent) that is specified in the notice to Holders of such final distribution.


 


Any funds not distributed on
the Termination Date because of the failure of any Certificateholders to tender their Certificates shall, on such date, be set
aside and held for the benefit of the appropriate non-tendering Certificateholders. If any Certificates as to which notice of the
Termination Date has been given pursuant to the Pooling and Servicing Agreement shall not have been surrendered for cancellation
within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders to surrender their Certificates for cancellation to receive the final distribution with respect
thereto. If within one year after the second notice not all of such Certificates shall have been surrendered for cancellation,
the Certificate Administrator may, directly or through an agent, take appropriate steps to contact the remaining non-tendering
Certificateholders concerning surrender of their Certificates. The costs and expenses of holding such funds in trust and of contacting
such Certificateholders shall be paid out of such funds. Subject to applicable state escheatment laws, if within two years after
the second notice any such Certificates shall not have been surrendered for cancellation, the Paying Agent shall distribute to
the Certificate Administrator all amounts distributable to the Holders thereof, and the Certificate Administrator shall thereafter
hold such amounts for the benefit of such Holders until the earlier of (i) its termination as Certificate Administrator under the
Pooling and Servicing Agreement and the transfer of such amounts to a successor Certificate Administrator and (ii) the termination
of the Trust Fund and distribution of such amounts to the Class R Certificateholders. No interest shall accrue or be payable to
any Certificateholder on any amount held under the Pooling and Servicing Agreement or by the Certificate Administrator as a result
of such Certificateholder’s failure to surrender its Certificate(s) for final payment thereof in accordance with the Pooling
and Servicing Agreement. Any such amounts transferred to the Certificate Administrator may be invested in Permitted Investments
and all income and gain realized from investment of such funds shall accrue for its benefit.


 


This Certificate is limited in
right of payment to, among other things, certain collections and recoveries in respect of the Mortgage Loans, as more specifically
set forth herein and in the Pooling and Servicing Agreement.


 






    	A-16-5



    	 



    




 


As provided in the Pooling and
Servicing Agreement, the Trust Fund includes (in each case, to the extent of the Trust Fund’s interest therein and specifically
excluding any interest of any Serviced Companion Loan Noteholder therein): (i) such Mortgage Loans as from time to time are subject
to the Pooling and Servicing Agreement, together with the Mortgage Files relating thereto; (ii) all scheduled or unscheduled payments
on or collections in respect of the Mortgage Loans due after the Cut-off Date; (iii) the Trust Fund’s interest in any REO
Property; (iv) all revenues received in respect of any REO Property; (v) any Assignments of Leases, Rents and Profits and any security
agreements related to the Mortgage Loans; (vi) any indemnities or guaranties given as additional security for any Mortgage Loans;
(vii) a security interest in all assets deposited in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts, and Reserve
Accounts; (viii) the Loss of Value Reserve Fund; (ix) the Collection Account, the Serviced Whole Loan Collection Accounts, the
Distribution Accounts, any Gain-on-Sale Reserve Account, the Interest Reserve Account, and the Trust’s interest in any REO
Account, including any amounts on deposit therein, assets credited thereto and any reinvestment income, as applicable; (x) a security
interest in any environmental indemnity agreements relating to the Mortgaged Properties; (xi) a security interest in all insurance
policies with respect to the Mortgage Loans and the Mortgaged Properties; (xii) the rights and remedies under the Mortgage Loan
Purchase Agreements relating to document delivery requirements with respect to the Mortgage Loans and the representations and warranties
of the related Mortgage Loan Seller regarding its Mortgage Loans; (xiii) the Lower-Tier Regular Interests and (xiv) the proceeds
of the foregoing (other than any interest earned on deposits in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts
and any Reserve Accounts, to the extent such interest belongs to the related Borrower). As provided in the Pooling and Servicing
Agreement, withdrawals may be made from certain of the above accounts for purposes other than distributions to Certificateholders.


 


This Certificate does not purport
to summarize the Pooling and Servicing Agreement, and reference is made to the Pooling and Servicing Agreement for the interests,
rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and immunities of
the Certificate Administrator.


 


As provided in the Pooling and
Servicing Agreement and subject to certain limitations set forth therein, this Certificate is transferable or exchangeable only
upon surrender of this Certificate to the Certificate Registrar at its offices together with an assignment and transfer (executed
by the Holder or his duly authorized attorney), subject to the requirements in Article V of the Pooling and Servicing Agreement.
Upon surrender for registration of transfer of this Certificate, subject to the requirements Article V of the Pooling and Servicing
Agreement, the Certificate Administrator shall execute and the Authenticating Agent shall duly authenticate in the name of the
designated transferee or transferees, one or more new Certificates in authorized denominations of a like aggregate denomination
as the Certificate being surrendered. Such Certificates shall be delivered by the Certificate Registrar in accordance with Article
V of the Pooling and Servicing Agreement.


 


Prior to due presentation of
this Certificate for registration of transfer, the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor,
the Asset Representations Reviewer, the Certificate Administrator, the Trustee, the Certificate Registrar, any Paying Agent and
any agent of any of them may treat the Person in whose name this


 






    	A-16-6



    	 



    

 


Certificate
is registered as the owner hereof for all purposes, and none of the Depositor, the Master Servicer, the Special Servicer, the
Certificate Administrator, the Trustee, the Certificate Registrar, any Paying Agent or any agent of any of them shall be affected
by notice or knowledge to the contrary.


 


No fee or service charge shall
be imposed by the Certificate Registrar for its services in respect of any registration of transfer or exchange referred to in
Section 5.02 of the Pooling and Servicing Agreement other than for transfers to Institutional Accredited Investors as provided
in Section 5.02(h) of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional Accredited Investor,
the transferor shall reimburse the Trust Fund for any costs (including the cost of the Certificate Registrar’s counsel’s
review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar as provided
in the Pooling and Servicing Agreement) incurred by the Certificate Registrar in connection with such transfer. The Certificate
Registrar may require payment by each transferor of a sum sufficient to cover any tax, expense or other governmental charge payable
in connection with any such transfer.


 


The Pooling and Servicing Agreement
or any Custodial Agreement may be amended at any time by the Depositor, the Master Servicer, the Special Servicer, the Certificate
Administrator, the Operating Advisor, the Asset Representations Reviewer and the Trustee without the consent of any of the Certificateholders
or any Serviced Companion Loan Noteholders, (i) to cure any ambiguity or to correct any manifest error; (ii) to cause the
provisions of the Pooling and Servicing Agreement or any Custodial Agreement to conform or be consistent with or in furtherance
of the statements made in the Prospectus or Private Placement Memorandum with respect to the Certificates, the Trust or the Pooling
and Servicing Agreement or to correct or supplement any provisions of the Pooling and Servicing Agreement or any Custodial Agreement
which may be defective or inconsistent with any other provisions of the Pooling and Servicing Agreement or any Custodial Agreement;
(iii) to change the timing and/or nature of deposits in the Collection Account, the Distribution Accounts or any REO Account;
provided that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment; (iv) to modify, eliminate or add to any of its provisions to such extent
as shall be necessary to maintain the qualification of any Trust REMIC as a REMIC under the relevant provisions of the Code at
all times that any Certificate is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust Fund or any
Trust REMIC that would be a claim against the Trust Fund or any Trust REMIC; provided that the Trustee and the Certificate
Administrator have received an Opinion of Counsel (at the expense of the party requesting such amendment) to the effect that (a) such
action is necessary or desirable to maintain such qualification or to avoid or minimize the risk of the imposition of any such
tax and (b) such action will not adversely affect in any material respect the interests of any Certificateholder or Companion
Loan Noteholder; (v) to modify, eliminate or add to the provisions any provision hereof restricting transfer of the Class R
Certificates; provided the Depositor has determined that such change shall not, as evidenced by an Opinion of Counsel, cause
the Trust Fund, any Trust REMIC or any of the Certificateholders (other than the Transferor) to be subject to a federal tax caused
by a Transfer to a Person that is a


 






    	A-16-7



    	 



    

 


Disqualified
Organization or a Non-U.S. Tax Person; (vi) to revise or add any other provisions with respect to matters or questions arising
under this Agreement or any other change; provided that the required action shall not adversely affect in any material
respect the interests of any Certificateholder or any holder of a Serviced Pari Passu Companion Loan not consenting thereto as
evidenced in writing by an Opinion of Counsel, at the expense of the party requesting such amendment or as evidenced by a Rating
Agency Confirmation from each of the Rating Agencies with respect to such amendment or supplement and confirmation of the applicable
rating agencies that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of
any securities related to a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied
in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates); (vii) to amend
or supplement any provision hereof to the extent necessary to maintain the then-current ratings assigned to each Class of Certificates
by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of the Rating Agencies and confirmation of the applicable
rating agencies that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of
any securities related to a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied
in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates); provided that such amendment or supplement shall not adversely affect in any material respect the interests of any Certificateholder
not consenting thereto as evidenced by an Opinion of Counsel; (viii) to modify the provisions of Section 3.06 and Section
3.17 of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable Advances and Workout-Delayed
Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as a Control Termination Event
has not occurred and is not continuing, the Directing Certificateholder, determine that the commercial mortgage backed securities
industry standard for such provisions has changed, in order to conform to such industry standard, (b) such modification does
not adversely affect the status of any Trust REMIC as a REMIC under the relevant provisions of the Code, as evidenced by an Opinion
of Counsel and (c) each Rating Agency has delivered a Rating Agency Confirmation and, with regard to any class of Serviced
Companion Loan Securities, the applicable rating agencies have delivered a confirmation that such action will not result in the
downgrade, withdrawal or qualification of its then-current ratings (provided that such rating agency confirmation may be
considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates);
(ix) to modify the procedures of this Agreement relating to compliance with Rule 17g-5 of the Exchange Act; provided
that such amendment shall not adversely affect in any material respects the interests of any Certificateholders, as evidenced
by (x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation from each
Rating Agency rating such Certificates; and provided, further, that the Certificate Administrator shall give notice
of any such amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website and the
Certificate Administrator shall post such notice to the Certificate Administrator’s Website; and (x) to modify, eliminate
or add to any provisions of the Pooling and Servicing Agreement to such extent as would be necessary to comply with the requirements
for use of Form SF-3 in registered offerings to the extent provided in CFR 239.45(b)(1)(ii), (iii) or (iv).


 


The Pooling and Servicing Agreement
or any Custodial Agreement may also be amended from time to time by the Depositor, the Master Servicer, the Special Servicer, the
Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer and the


 






    	A-16-8



    	 



    

 


Trustee
with the prior written consent of the Holders of Certificates representing not less than a majority of the Percentage Interests
of each Class of Certificates affected thereby (without regard to Certificates held by the Depositor, any of the Depositor’s
Affiliates and/or agents) and each Serviced Companion Loan Noteholder affected thereby for the purpose of adding any provisions
to or changing in any manner or eliminating any of the provisions of the Pooling and Servicing Agreement or modifying in any manner
the rights of the Certificateholders or the Serviced Companion Loan Noteholders; provided, that no such amendment may:


 


		(i)	reduce in any manner the amount of, or delay the timing
of, payments received on the Mortgage Loans or Subordinate Companion Loan which are required to be distributed on any Certificate,
without the consent of the Holders of Certificates representing all of the Percentage Interests of the Class or Classes affected
thereby or which are required to be distributed to any Companion Loan Noteholders without the consent of such Companion Loan Noteholders;



 


		(ii)	reduce the aforesaid percentage of Certificates of any
Class the Holders of which are required to consent to any such amendment or remove the requirement to obtain consent of any Companion
Loan Noteholder, in any such case without the consent of the Holders of all Certificates of such Class then-outstanding or such
Companion Loan Noteholder, as applicable;



 


		(iii)	adversely affect the Voting Rights of any Class of Certificates
without the consent of the Holders of all Certificates of such Class then outstanding;



 


		(iv)	change in any manner any defined term used in any Mortgage
Loan Purchase Agreement or the obligations of any Mortgage Loan Seller under such Mortgage Loan Purchase Agreement or otherwise
or change any rights of any Mortgage Loan Seller as a third party beneficiary hereunder, without the consent of such Mortgage
Loan Seller; or



 


		(v)	amend the Servicing Standard without the consent of 100%
of the Certificateholders or receipt of Rating Agency Confirmation from each Rating Agency and confirmation of the applicable
rating agencies that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of
any securities related to a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied
in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates).



 


Further, the Depositor, the Master
Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer and the
Trustee, at any time and from time to time, without the consent of the Certificateholders or, if applicable, the Serviced Companion
Loan Noteholders, may amend the Pooling and Servicing Agreement to modify, eliminate or add to any of its provisions (i) to such
extent as shall be necessary to maintain the qualification of the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC, or


 






    	A-16-9



    	 



    

 


to
prevent the imposition of any additional material state or local taxes, at all times that any Certificates are outstanding; provided that such action, as evidenced by an Opinion of Counsel (obtained at the expense of the Trust Fund), is necessary or helpful
to maintain such qualification or to prevent the imposition of any such taxes, and would not adversely affect in any material
respect the interest of any Certificateholder or if applicable, any Serviced Companion Loan Noteholder or (ii) to the extent necessary
to comply with the Investment Company Act of 1940, as amended, the Exchange Act, Regulation AB, and/or any related regulatory
actions and/or interpretations.


 


The Certificateholder owning
a majority of the Percentage Interest in the Controlling Class and, if no such Certificateholder exercises such option, the
Special Servicer, and if the Special Servicer does not exercise such option, the Master Servicer may effect an early termination
of the Trust Fund, upon not less than 30 days’ prior Notice of Termination given to the Trustee, the Special Servicer and
the Master Servicer any time specifying the Anticipated Termination Date, which shall be on or after the Early Termination Notice
Date (defined as any date as of which the aggregate Stated Principal Balance of the Mortgage Loans remaining in the Trust is less
than 1.0% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date) by purchasing on such date all,
but not less than all, of the Mortgage Loans then included in the Trust Fund, and the Trust’s interest in all property acquired
in respect of any Mortgage Loan, at a purchase price, payable in cash, equal to the sum of, without duplication:


 


		(A)	100% of the Stated Principal Balance of each Mortgage Loan included in the Trust as of the last
day of the month preceding such Anticipated Termination Date (less any P&I Advances previously made on account of principal);



 


		(B)	the fair market value of all other property included in the Trust Fund as of the last day of the
month preceding such Anticipated Termination Date, as determined by an Independent appraiser acceptable to the Master Servicer
as of a date not more than 30 days prior to the last day of the month preceding such Distribution Date;



 


		(C)	all unpaid interest accrued on the unpaid balance of each Mortgage Loan (including any Mortgage
Loan as to which title to the related Mortgaged Property has been acquired) at the Mortgage Rate to the last day of the month preceding
such Anticipated Termination Date (less any P&I Advances previously made on account of interest); and



 


		(D)	the aggregate amount of unreimbursed
                                         Advances, with interest thereon at the Reimbursement Rate, and unpaid Servicing Compensation,
                                         Special Servicing Compensation, Operating Advisor Fees, Certificate Administrator/Trustee
                                         Fees, the CREFC® Intellectual Property Royalty License Fees and Trust
                                         Fund expenses.



 






    	A-16-10



    	 



    




 


In addition, the Pooling and
Servicing Agreement provides that following the date on which the Class X-A Notional Amount, the Class X-B Notional Amount,
the Class X-C Notional Amount and the aggregate Certificate Balance of the Class A-1, Class A-2, Class A-SB, Class A-3A,
Class A-3B, Class A-4, Class A-M, Class B, Class C and Class D Certificates is reduced to zero, the Sole Certificateholder shall
have the right to exchange all of the then-outstanding Certificates (other than (i) the Class X-D, Class X-E Certificates
and Class X-F Certificates if the Sole Certificateholder has only taken an assignment of the Voting Rights of the Class X-D, Class X-E
Certificates and Class X-F Certificates pursuant to the definition of “Sole Certificateholder” and (ii) the Class
R Certificates) for all of the Mortgage Loans and each REO Property remaining in the Trust Fund as contemplated by clause (ii) of
Section 9.01(a) of the Pooling and Servicing Agreement by giving written notice to all the parties to the Pooling and Servicing
Agreement no later than 60 days prior to the anticipated date of exchange.


 


All costs and expenses incurred
by any and all parties to the Pooling and Servicing Agreement or by the Trust Fund in connection with the purchase of the Mortgage
Loans and the other assets of the Trust Fund pursuant to Section 9.01(c) of the Pooling and Servicing Agreement shall be borne
by the party exercising its purchase rights thereunder. The Trustee and the Certificate Administrator shall be entitled to rely
conclusively on any determination made by an Independent appraiser pursuant to Section 9.01(c) of the Pooling and Servicing
Agreement.


 


The respective obligations and
responsibilities of the Master Servicer, the Special Servicer, the Depositor, the Certificate Administrator, the Operating Advisor,
the Asset Representations Reviewer and the Trustee created by the Pooling and Servicing Agreement with respect to the Certificates
(other than the obligations of the Certificate Administrator to make certain payments and to send certain notices to Certificateholders
as set forth in the Pooling and Servicing Agreement) shall terminate upon payment (or provision for payment) to the Certificateholders
and the Serviced Companion Loan Noteholders of all amounts held by or on behalf of the Trustee, the Certificate Administrator and
the Master Servicer, as the case may be, required under the Pooling and Servicing Agreement to be so paid on the Distribution Date
following the earlier to occur of (i) the purchase of the Mortgage Loans and all other property held by the Trust Fund in accordance
with Section 9.01(c) of the Pooling and Servicing Agreement; (ii) the exchange by the Sole Certificateholder of its Certificates
for the Mortgage Loans in accordance with Section 9.01(g) of the Pooling and Servicing Agreement; and (iii) the later of (a) the
receipt or collection of the last payment due on any Mortgage Loan included in the Trust Fund, or (b) the liquidation and
disposition pursuant to the Pooling and Servicing Agreement of the last asset held by the Trust Fund; provided that in no
event shall the trust created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years from the death
of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the United Kingdom, living
on the date hereof.


 


Unless the Certificate of Authentication
on this Certificate has been executed by the Authenticating Agent, by manual signature, this Certificate shall not be entitled
to any benefit under the Pooling and Servicing Agreement or be valid for any purpose.


 






    	A-16-11



    	 



    




 


IN WITNESS WHEREOF, the Certificate Administrator
has caused this Class X-B Certificate to be duly executed.


 


Dated: April __, 2016


 





	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Certificate Administrator
	 	 	 
	 	By:	 
	 	 	Authorized Signatory




 








Certificate of Authentication


 


This is one of the Class X-B
Certificates referred to in the Pooling and Servicing Agreement.


 


Dated: April __, 2016 





	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Authenticating Agent
	 	 	 
	 	By:	 
	 	 	Authorized Signatory




 






    	A-16-12



    	 



    

 


EXHIBIT A-17


 


FORM OF CLASS X-C [RULE 144A]1
[REG S]2 CERTIFICATE


 


[UNLESS THIS CERTIFICATE IS PRESENTED BY AN
AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE
REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &
CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]3


 


THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE
REGISTERED OR QUALIFIED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE
OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED, RESOLD,
PLEDGED OR OTHERWISE TRANSFERRED ONLY IN COMPLIANCE WITH THE SECURITIES ACT AND OTHER APPLICABLE LAWS, AND ONLY (A)(1) PURSUANT
TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (2) FOR SO LONG AS THIS CERTIFICATE IS
ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”), TO AN INSTITUTIONAL INVESTOR
THAT THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING OF RULE 144A (“QUALIFIED
INSTITUTIONAL BUYER”), PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF ANOTHER QUALIFIED INSTITUTIONAL BUYER, WHOM
THE HOLDER HAS INFORMED, IN EACH CASE, THAT THE REOFFER, RESALE, PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A,
(3) TO AN INSTITUTIONAL “ACCREDITED INVESTOR,” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION
D UNDER THE SECURITIES ACT OR ANY ENTITY IN WHICH ALL OF THE EQUITY OWNERS ARE SUCH ACCREDITED INVESTORS, OR (4) TO INSTITUTIONS
THAT ARE A NON-“U.S. PERSON” IN AN “OFFSHORE TRANSACTION,” AS SUCH TERMS ARE DEFINED IN, AND IN ACCORDANCE
WITH RULE 903 OR RULE 904 OF, REGULATION S UNDER THE SECURITIES ACT, AND (B) IN ACCORDANCE WITH ANY OTHER APPLICABLE SECURITIES
LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION.


 





 









1 For Rule 144A Global Certificates
only.





2 For
Reg S Global Certificates only. 


3 Legend required as long as DTC is
the Depository under the Pooling and Servicing Agreement.





 






    	A-17-1



    	 



    




 


ANY HOLDER DESIRING TO EFFECT A TRANSFER OF
THIS CERTIFICATE SHALL, AND DOES HEREBY AGREE TO, INDEMNIFY THE CERTIFICATE REGISTRAR, THE CERTIFICATE ADMINISTRATOR, THE TRUSTEE,
THE MASTER SERVICER AND THE DEPOSITOR AGAINST ANY LOSS, LIABILITY OR EXPENSE THAT MAY RESULT IF THE TRANSFER IS NOT EXEMPT FROM
THE SECURITIES ACT OR IS NOT MADE IN ACCORDANCE WITH FEDERAL AND STATE LAWS.


 


THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION
OF OR INTEREST IN THE DEPOSITOR, THE ORIGINATOR, THE MASTER SERVICER, THE SPECIAL SERVICER, THE CERTIFICATE ADMINISTRATOR, THE
CERTIFICATE REGISTRAR, THE OPERATING ADVISOR, THE ASSET REPRESENTATIONS REVIEWER, THE TRUSTEE OR ANY OF THEIR RESPECTIVE AFFILIATES.
NEITHER THE CERTIFICATES NOR THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY.


 


THE HOLDERS OF THIS CLASS X-C CERTIFICATE
WILL BE ENTITLED ONLY TO DISTRIBUTIONS OF INTEREST ON THE NOTIONAL BALANCE OF THE CLASS X-C CERTIFICATES AND WILL NOT BE ENTITLED
TO ANY DISTRIBUTIONS WITH RESPECT TO PRINCIPAL. THE NOTIONAL BALANCE OF THE CLASS X-C CERTIFICATES IS EQUAL TO AN AMOUNT AS
SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW. ACCORDINGLY, THE OUTSTANDING NOTIONAL BALANCE OF THIS CERTIFICATE
AT ANY TIME MAY BE LESS THAN THE INITIAL NOTIONAL BALANCE SET FORTH BELOW.


 


TRANSFERS AND EXCHANGES OF PORTIONS OF THIS
CERTIFICATE ARE SUBJECT TO RESTRICTIONS AS PROVIDED IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.


 


FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE
REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE TERMS ARE DEFINED,
RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED.


 


[THIS CERTIFICATE HAS NOT BEEN AND WILL NOT
BE REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT AND, PRIOR TO THE DATE THAT IS 40 DAYS AFTER THE OFFERING OF THE CERTIFICATES,
MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED IN THE UNITED STATES OR TO A U.S. PERSON EXCEPT PURSUANT TO AN EXEMPTION
FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.]4


 





 






4
For Reg S Global Certificates only.


 






    	A-17-2



    	 



    

 


DBJPM 2016-C1 MORTGAGE TRUST

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, CLASS X-C


 


	Class X-C Pass-Through Rate:  Variable	 	
        CUSIP:    23312LAC25

         U2401LAC56

         23312LAZ17

        


         

        ISIN:        US23312LAC288

         USU2401LAC559

         US23312LAZ1310

         

	Original Aggregate Notional Balance of the

Class X-C Certificates:  $38,856,000	 	Initial Notional Balance of this Certificate:  $[_____]
	 	 	 
	First Distribution Date: May 12, 2016	 	Cut-off Date:  The close of business on the later of the related due date for each Mortgage Loan in April 2016 and the date of origination of such Mortgage Loan
	 	 	 
	Assumed Final Distribution Date:  April 2026	 	No.:  X-C-[__]


  


This certifies that [              ]
is the registered owner of a beneficial ownership interest in a Trust Fund, including the distributions to be made with respect
to the Class X-C Certificates. The Trust Fund, described more fully below, consists primarily of a pool of Mortgage Loans
secured by first liens on commercial, multifamily and manufactured housing community properties and held in trust by the Trustee
and serviced by the Master Servicer. The Trust Fund was created, and the Mortgage Loans are to be serviced, pursuant to the Pooling
and Servicing Agreement (as defined below). The Holder of this Certificate, by virtue of the acceptance hereof, assents to the
terms, provisions and conditions of the Pooling and Servicing Agreement and is bound thereby.


 


The Pooling and Servicing Agreement,
dated as of April 1, 2016 (the “Pooling and Servicing Agreement”), between the Depositor, Wells Fargo Bank,
National Association, as master
servicer (in such capacity, the “Master Servicer”), Midland Loan Services, a Division of PNC Bank, National
Association, as special servicer (the “Special Servicer”), Wilmington Trust, National Association, as trustee
(the “Trustee”), Wells Fargo Bank, National Association, as


 





 









5 For
Rule 144A Certificates 


6 For
Regulation S Certificates 


7 For
IAI Certificates





8 For
Rule 144A Certificates





9 For
Regulation S Certificates 


10 For IAI Certificates


 











    	A-17-3



    	 



    

 


certificate
administrator (in such capacity, the “Certificate Administrator”), paying agent and custodian, Park Bridge
Lender Services LLC, as operating advisor (in such capacity, the “Operating
Advisor”), and Park Bridge Lender Services LLC, as asset representations
reviewer (in such capacity, the “Asset Representations Reviewer”) evidences the issuance of the Class A-1,
Class A-2, Class A-SB, Class A-3A, Class A-4, Class X-A, Class A-M, Class B, Class C, Class A-3B, Class X-B,
Class X-C, Class X-D, Class X-E, Class X-F, Class D, Class E, Class F, Class G, Class H and Class R Certificates
(the “Certificates”; the Holders of Certificates issued under the Pooling and Servicing Agreement are collectively
referred to herein as “Certificateholders”). This Certificate is issued pursuant to, and in accordance with,
the terms of the Pooling and Servicing Agreement. To the extent not defined herein, capitalized terms used herein shall have the
meanings assigned thereto in the Pooling and Servicing Agreement.


 


This Certificate represents a
“regular interest” in a “real estate mortgage investment conduit”, as those terms are defined, respectively,
in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this Certificate, by acceptance
hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in accordance with the preceding
sentence for purposes of federal income taxes, state and local income and franchise taxes and other taxes imposed on or measured
by income.


 


The Certificate Administrator
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Mortgage Loans and has executed this Certificate in its limited capacity as Certificate Administrator under the Pooling
and Servicing Agreement. In the event that there is any conflict between any provision of this Certificate and any provision of
the Pooling and Servicing Agreement, such provision of this Certificate shall be superseded to the extent of such inconsistency.


 


Pursuant to the terms of the
Pooling and Servicing Agreement, the Certificate Administrator, or the Paying Agent on behalf of the Certificate Administrator,
will distribute (other than the final distribution on any Certificate), on the fourth Business Day after each Determination Date
(each such date, a “Distribution Date”) an amount equal to such Person’s pro rata share (based on the
Percentage Interest represented by this Certificate) of that portion of the aggregate amount of interest then distributable, if
any, allocable to the Class X-C Certificates for such Distribution Date, all as more fully described in the Pooling and Servicing
Agreement. “Determination Date” is defined in the Pooling and Servicing Agreement as the sixth day of each month, or
if such sixth day is not a Business Day, then the next Business Day, commencing in May 2016. Holders of this Certificate may be
entitled to Prepayment Premiums and Yield Maintenance Charges as provided in the Pooling and Servicing Agreement.


 


During each Interest Accrual
Period (as defined below), interest on the Class X-C Certificates will be calculated based on a 360-day year consisting of
twelve 30-day months on the outstanding Notional Balance hereof.


 


Interest accrued on this Certificate
during an Interest Accrual Period, plus the aggregate unpaid Interest Shortfall with respect to this Certificate, if any, will
be payable on the related Distribution Date to the extent provided in the Pooling and Servicing Agreement. The “Interest
Accrual Period” means, with respect to any Distribution Date, the calendar month


 






    	A-17-4



    	 



    

 


immediately
preceding the month in which such Distribution Date occurs. Each Interest Accrual Period is assumed to consist of 30 days.


 


All distributions (other than
the final distribution on any Certificate) will be made by the Paying Agent to the Persons in whose names the Certificates are
registered at the close of business on each Record Date, which will be the close of business on the last Business Day of the calendar
month preceding the month in which such Distribution Date occurs. Such distributions shall be made on each Distribution Date other
than the Termination Date to each Certificateholder of record on the related Record Date, (i) by wire transfer of immediately available
funds to the account of such Holder at a bank or other entity located in the United States and having appropriate facilities therefor
if such Holder shall have provided the Paying Agent with wire instructions in writing at least five Business Days prior to the
related Record Date (which wiring instructions may be in the form of a standing order applicable to all subsequent distributions),
or (ii) otherwise, by check mailed by first-class mail to the address set forth therefor in the Certificate Register. The final
distribution on each Certificate shall be made in like manner, but only upon presentment and surrender of such Certificate at the
office of the Certificate Administrator or its agent (which may be the Paying Agent or the Certificate Registrar acting as such
agent) that is specified in the notice to Holders of such final distribution.


 


Any funds not distributed on
the Termination Date because of the failure of any Certificateholders to tender their Certificates shall, on such date, be set
aside and held for the benefit of the appropriate non-tendering Certificateholders. If any Certificates as to which notice of the
Termination Date has been given pursuant to the Pooling and Servicing Agreement shall not have been surrendered for cancellation
within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders to surrender their Certificates for cancellation to receive the final distribution with respect
thereto. If within one year after the second notice not all of such Certificates shall have been surrendered for cancellation,
the Certificate Administrator may, directly or through an agent, take appropriate steps to contact the remaining non-tendering
Certificateholders concerning surrender of their Certificates. The costs and expenses of holding such funds in trust and of contacting
such Certificateholders shall be paid out of such funds. Subject to applicable state escheatment laws, if within two years after
the second notice any such Certificates shall not have been surrendered for cancellation, the Paying Agent shall distribute to
the Certificate Administrator all amounts distributable to the Holders thereof, and the Certificate Administrator shall thereafter
hold such amounts for the benefit of such Holders until the earlier of (i) its termination as Certificate Administrator under the
Pooling and Servicing Agreement and the transfer of such amounts to a successor Certificate Administrator and (ii) the termination
of the Trust Fund and distribution of such amounts to the Class R Certificateholders. No interest shall accrue or be payable to
any Certificateholder on any amount held under the Pooling and Servicing Agreement or by the Certificate Administrator as a result
of such Certificateholder’s failure to surrender its Certificate(s) for final payment thereof in accordance with the Pooling
and Servicing Agreement. Any such amounts transferred to the Certificate Administrator may be invested in Permitted Investments
and all income and gain realized from investment of such funds shall accrue for its benefit.


 






    	A-17-5



    	 



    




 


This Certificate is limited in
right of payment to, among other things, certain collections and recoveries in respect of the Mortgage Loans, as more specifically
set forth herein and in the Pooling and Servicing Agreement.


 


As provided in the Pooling and
Servicing Agreement, the Trust Fund includes (in each case, to the extent of the Trust Fund’s interest therein and specifically
excluding any interest of any Serviced Companion Loan Noteholder therein): (i) such Mortgage Loans as from time to time are subject
to the Pooling and Servicing Agreement, together with the Mortgage Files relating thereto; (ii) all scheduled or unscheduled payments
on or collections in respect of the Mortgage Loans due after the Cut-off Date; (iii) the Trust Fund’s interest in any REO
Property; (iv) all revenues received in respect of any REO Property; (v) any Assignments of Leases, Rents and Profits and any security
agreements related to the Mortgage Loans; (vi) any indemnities or guaranties given as additional security for any Mortgage Loans;
(vii) a security interest in all assets deposited in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts, and Reserve
Accounts; (viii) the Loss of Value Reserve Fund; (ix) the Collection Account, the Serviced Whole Loan Collection Accounts, the
Distribution Accounts, any Gain-on-Sale Reserve Account, the Interest Reserve Account, and the Trust’s interest in any REO
Account, including any amounts on deposit therein, assets credited thereto and any reinvestment income, as applicable; (x) a security
interest in any environmental indemnity agreements relating to the Mortgaged Properties; (xi) a security interest in all insurance
policies with respect to the Mortgage Loans and the Mortgaged Properties; (xii) the rights and remedies under the Mortgage Loan
Purchase Agreements relating to document delivery requirements with respect to the Mortgage Loans and the representations and warranties
of the related Mortgage Loan Seller regarding its Mortgage Loans; (xiii) the Lower-Tier Regular Interests and (xiv) the proceeds
of the foregoing (other than any interest earned on deposits in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts
and any Reserve Accounts, to the extent such interest belongs to the related Borrower). As provided in the Pooling and Servicing
Agreement, withdrawals may be made from certain of the above accounts for purposes other than distributions to Certificateholders.


 


This Certificate does not purport
to summarize the Pooling and Servicing Agreement, and reference is made to the Pooling and Servicing Agreement for the interests,
rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and immunities of
the Certificate Administrator.


 


As provided in the Pooling and
Servicing Agreement and subject to certain limitations set forth therein, this Certificate is transferable or exchangeable only
upon surrender of this Certificate to the Certificate Registrar at its offices together with an assignment and transfer (executed
by the Holder or his duly authorized attorney), subject to the requirements in Article V of the Pooling and Servicing Agreement.
Upon surrender for registration of transfer of this Certificate, subject to the requirements Article V of the Pooling and Servicing
Agreement, the Certificate Administrator shall execute and the Authenticating Agent shall duly authenticate in the name of the
designated transferee or transferees, one or more new Certificates in authorized denominations of a like aggregate denomination
as the Certificate being surrendered. Such Certificates shall be delivered by the Certificate Registrar in accordance with Article
V of the Pooling and Servicing Agreement.


 






    	A-17-6



    	 



    




 


Prior to due presentation of
this Certificate for registration of transfer, the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor,
the Asset Representations Reviewer, the Certificate Administrator, the Trustee, the Certificate Registrar, any Paying Agent and
any agent of any of them may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes,
and none of the Depositor, the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Certificate
Registrar, any Paying Agent or any agent of any of them shall be affected by notice or knowledge to the contrary.


 


No fee or service charge shall
be imposed by the Certificate Registrar for its services in respect of any registration of transfer or exchange referred to in
Section 5.02 of the Pooling and Servicing Agreement other than for transfers to Institutional Accredited Investors as provided
in Section 5.02(h) of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional Accredited Investor,
the transferor shall reimburse the Trust Fund for any costs (including the cost of the Certificate Registrar’s counsel’s
review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar as provided
in the Pooling and Servicing Agreement) incurred by the Certificate Registrar in connection with such transfer. The Certificate
Registrar may require payment by each transferor of a sum sufficient to cover any tax, expense or other governmental charge payable
in connection with any such transfer.


 


The Pooling and Servicing Agreement
or any Custodial Agreement may be amended at any time by the Depositor, the Master Servicer, the Special Servicer, the Certificate
Administrator, the Operating Advisor, the Asset Representations Reviewer and the Trustee without the consent of any of the Certificateholders
or any Serviced Companion Loan Noteholders, (i) to cure any ambiguity or to correct any manifest error; (ii) to cause the
provisions of the Pooling and Servicing Agreement or any Custodial Agreement to conform or be consistent with or in furtherance
of the statements made in the Prospectus or Private Placement Memorandum with respect to the Certificates, the Trust or the Pooling
and Servicing Agreement or to correct or supplement any provisions of the Pooling and Servicing Agreement or any Custodial Agreement
which may be defective or inconsistent with any other provisions of the Pooling and Servicing Agreement or any Custodial Agreement;
(iii) to change the timing and/or nature of deposits in the Collection Account, the Distribution Accounts or any REO Account;
provided that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment; (iv) to modify, eliminate or add to any of its provisions to such extent
as shall be necessary to maintain the qualification of any Trust REMIC as a REMIC under the relevant provisions of the Code at
all times that any Certificate is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust Fund or
any Trust REMIC that would be a claim against the Trust Fund or any Trust REMIC; provided that the Trustee and the Certificate
Administrator have received an Opinion of Counsel (at the expense of the party requesting such amendment) to the effect that (a) such
action is necessary or desirable to maintain such qualification or to avoid or minimize the risk of the imposition of any such
tax and (b) such action will not adversely affect in any material respect the interests of any Certificateholder or Companion
Loan Noteholder; (v) to


 






    	A-17-7



    	 



    

 


modify,
eliminate or add to the provisions any provision hereof restricting transfer of the Class R Certificates; provided
the Depositor has determined that such change shall not, as evidenced by an Opinion of Counsel, cause the Trust Fund, any Trust
REMIC or any of the Certificateholders (other than the Transferor) to be subject to a federal tax caused by a Transfer to a Person
that is a Disqualified Organization or a Non-U.S. Tax Person; (vi) to revise or add any other provisions with respect to matters
or questions arising under this Agreement or any other change; provided that the required action shall not adversely affect
in any material respect the interests of any Certificateholder or any holder of a Serviced Pari Passu Companion Loan not consenting
thereto as evidenced in writing by an Opinion of Counsel, at the expense of the party requesting such amendment or as evidenced
by a Rating Agency Confirmation from each of the Rating Agencies with respect to such amendment or supplement and confirmation
of the applicable rating agencies that such action will not result in the downgrade, withdrawal or qualification of its then-current
ratings of any securities related to a Companion Loan, if any (provided that such rating agency confirmation may be considered
satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates);
(vii) to amend or supplement any provision hereof to the extent necessary to maintain the then-current ratings assigned to each
Class of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of the Rating Agencies and
confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal or qualification
of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating agency confirmation
may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the
Certificates); provided that such amendment or supplement shall not adversely affect in any material respect the interests
of any Certificateholder not consenting thereto as evidenced by an Opinion of Counsel; (viii) to modify the provisions of Section
3.06 and Section 3.17 of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable Advances
and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as a Control
Termination Event has not occurred and is not continuing, the Directing Certificateholder, determine that the commercial mortgage
backed securities industry standard for such provisions has changed, in order to conform to such industry standard, (b) such
modification does not adversely affect the status of any Trust REMIC as a REMIC under the relevant provisions of the Code, as
evidenced by an Opinion of Counsel and (c) each Rating Agency has delivered a Rating Agency Confirmation and, with regard
to any class of Serviced Companion Loan Securities, the applicable rating agencies have delivered a confirmation that such action
will not result in the downgrade, withdrawal or qualification of its then-current ratings (provided that such rating agency
confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with
respect to the Certificates); (ix) to modify the procedures of this Agreement relating to compliance with Rule 17g-5 of the
Exchange Act; provided that such amendment shall not adversely affect in any material respects the interests of any Certificateholders,
as evidenced by (x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation
from each Rating Agency rating such Certificates; and provided, further, that the Certificate Administrator shall
give notice of any such amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website
and the Certificate Administrator shall post such notice to the Certificate Administrator’s Website; and (x) to modify,
eliminate or add to any provisions of the Pooling and Servicing Agreement to


 






    	A-17-8



    	 



    




 


such
extent as would be necessary to comply with the requirements for use of Form SF-3 in registered offerings to the extent provided
in CFR 239.45(b)(1)(ii), (iii) or (iv).


 


The Pooling and Servicing Agreement
or any Custodial Agreement may also be amended from time to time by the Depositor, the Master Servicer, the Special Servicer, the
Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer and the Trustee with the prior written consent
of the Holders of Certificates representing not less than a majority of the Percentage Interests of each Class of Certificates
affected thereby (without regard to Certificates held by the Depositor, any of the Depositor’s Affiliates and/or agents)
and each Serviced Companion Loan Noteholder affected thereby for the purpose of adding any provisions to or changing in any manner
or eliminating any of the provisions of the Pooling and Servicing Agreement or modifying in any manner the rights of the Certificateholders
or the Serviced Companion Loan Noteholders; provided, that no such amendment may:


 


		(i)	reduce in any manner the amount of, or delay the timing
of, payments received on the Mortgage Loans or Subordinate Companion Loan which are required to be distributed on any Certificate,
without the consent of the Holders of Certificates representing all of the Percentage Interests of the Class or Classes affected
thereby or which are required to be distributed to any Companion Loan Noteholders without the consent of such Companion Loan Noteholders;



 


		(ii)	reduce the aforesaid percentage of Certificates of any
Class the Holders of which are required to consent to any such amendment or remove the requirement to obtain consent of any Companion
Loan Noteholder, in any such case without the consent of the Holders of all Certificates of such Class then-outstanding or such
Companion Loan Noteholder, as applicable;



 


		(iii)	adversely affect the Voting Rights of any Class of Certificates
without the consent of the Holders of all Certificates of such Class then outstanding;



 


		(iv)	change in any manner any defined term used in any Mortgage
Loan Purchase Agreement or the obligations of any Mortgage Loan Seller under such Mortgage Loan Purchase Agreement or otherwise
or change any rights of any Mortgage Loan Seller as a third party beneficiary hereunder, without the consent of such Mortgage
Loan Seller; or



 


		(v)	amend the Servicing Standard without the consent of 100%
of the Certificateholders or receipt of Rating Agency Confirmation from each Rating Agency and confirmation of the applicable
rating agencies that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of
any securities related to a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied
in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates).



 






    	A-17-9



    	 



    

 



Further, the Depositor, the Master
Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer and the
Trustee, at any time and from time to time, without the consent of the Certificateholders or, if applicable, the Serviced Companion
Loan Noteholders, may amend the Pooling and Servicing Agreement to modify, eliminate or add to any of its provisions (i) to such
extent as shall be necessary to maintain the qualification of the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC, or to prevent
the imposition of any additional material state or local taxes, at all times that any Certificates are outstanding; provided
that such action, as evidenced by an Opinion of Counsel (obtained at the expense of the Trust Fund), is necessary or helpful
to maintain such qualification or to prevent the imposition of any such taxes, and would not adversely affect in any material respect
the interest of any Certificateholder or if applicable, any Serviced Companion Loan Noteholder or (ii) to the extent necessary
to comply with the Investment Company Act of 1940, as amended, the Exchange Act, Regulation AB, and/or any related regulatory actions
and/or interpretations.


 


The Certificateholder owning
a majority of the Percentage Interest in the Controlling Class and, if no such Certificateholder exercises such option, the
Special Servicer, and if the Special Servicer does not exercise such option, the Master Servicer may effect an early termination
of the Trust Fund, upon not less than 30 days’ prior Notice of Termination given to the Trustee, the Special Servicer and
the Master Servicer any time specifying the Anticipated Termination Date, which shall be on or after the Early Termination Notice
Date (defined as any date as of which the aggregate Stated Principal Balance of the Mortgage Loans remaining in the Trust is less
than 1.0% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date) by purchasing on such date all,
but not less than all, of the Mortgage Loans then included in the Trust Fund, and the Trust’s interest in all property acquired
in respect of any Mortgage Loan, at a purchase price, payable in cash, equal to the sum of, without duplication:


 


		(A)	100% of the Stated Principal Balance of each Mortgage Loan included in the Trust as of the last
day of the month preceding such Anticipated Termination Date (less any P&I Advances previously made on account of principal);



 


		(B)	the fair market value of all other property included in the Trust Fund as of the last day of the
month preceding such Anticipated Termination Date, as determined by an Independent appraiser acceptable to the Master Servicer
as of a date not more than 30 days prior to the last day of the month preceding such Distribution Date;



 


		(C)	all unpaid interest accrued on the unpaid balance of each Mortgage Loan (including any Mortgage
Loan as to which title to the related Mortgaged Property has been acquired) at the Mortgage Rate to the last day of the month preceding
such Anticipated Termination Date (less any P&I Advances previously made on account of interest); and



 






    	A-17-10



    	 



    




 


		(D)	the aggregate amount of unreimbursed
                                         Advances, with interest thereon at the Reimbursement Rate, and unpaid Servicing Compensation,
                                         Special Servicing Compensation, Operating Advisor Fees, Certificate Administrator/Trustee
                                         Fees, the CREFC® Intellectual Property Royalty License Fees and Trust
                                         Fund expenses.



 


In addition, the Pooling and
Servicing Agreement provides that following the date on which the Class X-A Notional Amount, the Class X-B Notional Amount,
the Class X-C Notional Amount and the aggregate Certificate Balance of the Class A-1, Class A-2, Class A-SB, Class A-3A,
Class A-3B, Class A-4, Class A-M, Class B, Class C and Class D Certificates is reduced to zero, the Sole Certificateholder shall
have the right to exchange all of the then-outstanding Certificates (other than (i) the Class X-D, Class X-E Certificates
and Class X-F Certificates if the Sole Certificateholder has only taken an assignment of the Voting Rights of the Class X-D, Class X-E
Certificates and Class X-F Certificates pursuant to the definition of “Sole Certificateholder” and (ii) the Class
R Certificates) for all of the Mortgage Loans and each REO Property remaining in the Trust Fund as contemplated by clause (ii) of
Section 9.01(a) of the Pooling and Servicing Agreement by giving written notice to all the parties to the Pooling and Servicing
Agreement no later than 60 days prior to the anticipated date of exchange.


 


All costs and expenses incurred
by any and all parties to the Pooling and Servicing Agreement or by the Trust Fund in connection with the purchase of the Mortgage
Loans and the other assets of the Trust Fund pursuant to Section 9.01(c) of the Pooling and Servicing Agreement shall be borne
by the party exercising its purchase rights thereunder. The Trustee and the Certificate Administrator shall be entitled to rely
conclusively on any determination made by an Independent appraiser pursuant to Section 9.01(c) of the Pooling and Servicing
Agreement.


 


The respective obligations and
responsibilities of the Master Servicer, the Special Servicer, the Depositor, the Certificate Administrator, the Operating Advisor,
the Asset Representations Reviewer and the Trustee created by the Pooling and Servicing Agreement with respect to the Certificates
(other than the obligations of the Certificate Administrator to make certain payments and to send certain notices to Certificateholders
as set forth in the Pooling and Servicing Agreement) shall terminate upon payment (or provision for payment) to the Certificateholders
and the Serviced Companion Loan Noteholders of all amounts held by or on behalf of the Trustee, the Certificate Administrator and
the Master Servicer, as the case may be, required under the Pooling and Servicing Agreement to be so paid on the Distribution Date
following the earlier to occur of (i) the purchase of the Mortgage Loans and all other property held by the Trust Fund in accordance
with Section 9.01(c) of the Pooling and Servicing Agreement; (ii) the exchange by the Sole Certificateholder of its Certificates
for the Mortgage Loans in accordance with Section 9.01(g) of the Pooling and Servicing Agreement; and (iii) the later of (a) the
receipt or collection of the last payment due on any Mortgage Loan included in the Trust Fund, or (b) the liquidation and
disposition pursuant to the Pooling and Servicing Agreement of the last asset held by the Trust Fund; provided that in no
event shall the trust created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years from the death
of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the United Kingdom, living
on the date hereof.


 






    	A-17-11



    	 



    




 


Unless the Certificate of Authentication
on this Certificate has been executed by the Authenticating Agent, by manual signature, this Certificate shall not be entitled
to any benefit under the Pooling and Servicing Agreement or be valid for any purpose.


 






    	A-17-12



    	 



    

  


IN WITNESS WHEREOF, the Certificate Administrator
has caused this Class X-C Certificate to be duly executed.


 


Dated: April __, 2016








	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Certificate Administrator
	 	 	 
	 	By:	 
	 	 	Authorized Signatory




 


Certificate of Authentication


 


This is one of the Class X-C
Certificates referred to in the Pooling and Servicing Agreement.


 


Dated: April __, 2016 





	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Authenticating Agent
	 	 	 
	 	By:	 
	 	 	Authorized Signatory







 






    	A-17-13



    	 



    

 



 


EXHIBIT A-18


 


FORM OF CLASS X-D [RULE 144A]1
[REG S]2 CERTIFICATE


 


[UNLESS THIS CERTIFICATE IS PRESENTED BY AN
AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE
REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &
CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]3


 


THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE
REGISTERED OR QUALIFIED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE
OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED, RESOLD,
PLEDGED OR OTHERWISE TRANSFERRED ONLY IN COMPLIANCE WITH THE SECURITIES ACT AND OTHER APPLICABLE LAWS, AND ONLY (A)(1) PURSUANT
TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (2) FOR SO LONG AS THIS CERTIFICATE IS
ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”), TO AN INSTITUTIONAL INVESTOR
THAT THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING OF RULE 144A (“QUALIFIED
INSTITUTIONAL BUYER”), PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF ANOTHER QUALIFIED INSTITUTIONAL BUYER, WHOM
THE HOLDER HAS INFORMED, IN EACH CASE, THAT THE REOFFER, RESALE, PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A,
(3) TO AN INSTITUTIONAL “ACCREDITED INVESTOR,” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION
D UNDER THE SECURITIES ACT OR ANY ENTITY IN WHICH ALL OF THE EQUITY OWNERS ARE SUCH ACCREDITED INVESTORS, OR (4) TO INSTITUTIONS
THAT ARE A NON-”U.S. PERSON” IN AN “OFFSHORE TRANSACTION,” AS SUCH TERMS ARE DEFINED IN, AND IN ACCORDANCE
WITH RULE 903 OR RULE 904 OF, REGULATION S UNDER THE SECURITIES ACT, AND (B) IN ACCORDANCE WITH ANY OTHER APPLICABLE SECURITIES
LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION.


 


 









1
For Rule 144A Global Certificates only.


2 For
Reg S Global Certificates only. 


3 Legend required
as long as DTC is the Depository under the Pooling and Servicing Agreement.


 



    	A-18-1



    	 



    









 


ANY HOLDER DESIRING TO EFFECT A TRANSFER OF
THIS CERTIFICATE SHALL, AND DOES HEREBY AGREE TO, INDEMNIFY THE CERTIFICATE REGISTRAR, THE CERTIFICATE ADMINISTRATOR, THE TRUSTEE,
THE MASTER SERVICER AND THE DEPOSITOR AGAINST ANY LOSS, LIABILITY OR EXPENSE THAT MAY RESULT IF THE TRANSFER IS NOT EXEMPT FROM
THE SECURITIES ACT OR IS NOT MADE IN ACCORDANCE WITH FEDERAL AND STATE LAWS.


 


THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION
OF OR INTEREST IN THE DEPOSITOR, THE ORIGINATOR, THE MASTER SERVICER, THE SPECIAL SERVICER, THE CERTIFICATE ADMINISTRATOR, THE
CERTIFICATE REGISTRAR, THE OPERATING ADVISOR, THE ASSET REPRESENTATIONS REVIEWER, THE TRUSTEE OR ANY OF THEIR RESPECTIVE AFFILIATES.
NEITHER THE CERTIFICATES NOR THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY.


 


THE HOLDERS OF THIS CLASS X-D CERTIFICATE
WILL BE ENTITLED ONLY TO DISTRIBUTIONS OF INTEREST ON THE NOTIONAL BALANCE OF THE CLASS X-D CERTIFICATES AND WILL NOT BE ENTITLED
TO ANY DISTRIBUTIONS WITH RESPECT TO PRINCIPAL. THE NOTIONAL BALANCE OF THE CLASS X-D CERTIFICATES IS EQUAL TO AN AMOUNT AS
SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW. ACCORDINGLY, THE OUTSTANDING NOTIONAL BALANCE OF THIS CERTIFICATE
AT ANY TIME MAY BE LESS THAN THE INITIAL NOTIONAL BALANCE SET FORTH BELOW.


 


TRANSFERS AND EXCHANGES OF PORTIONS OF THIS
CERTIFICATE ARE SUBJECT TO RESTRICTIONS AS PROVIDED IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.


 


FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE
REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE TERMS ARE DEFINED,
RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED.


 


[THIS CERTIFICATE HAS NOT BEEN AND WILL NOT
BE REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT AND, PRIOR TO THE DATE THAT IS 40 DAYS AFTER THE OFFERING OF THE CERTIFICATES,
MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED IN THE UNITED STATES OR TO A U.S. PERSON EXCEPT PURSUANT TO AN EXEMPTION
FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.]4


 





 






4 
For Reg S Global Certificates only.


 



    	A-18-2



    	 



    




 


DBJPM 2016-C1 MORTGAGE TRUST

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, CLASS X-D


 


	Class X-D Pass-Through Rate:  Variable	 	
        CUSIP:   23312LAD05

U2401LAD36

23312LBA57

         

        ISIN:       US23312LAD018

        USU2401LAD399

        US23312LBA5210

         

	Original Aggregate Notional Balance of the Class X-D
    Certificates: $17,384,000	 	Initial Notional Balance of this Certificate:  $[_____]
	 	 	 
	First Distribution Date: May 12, 2016	 	Cut-off Date:  The close of business on the later of the related due date for each Mortgage Loan in April 2016 and the date of origination of such Mortgage Loan
	 	 	 
	Assumed Final Distribution Date:  April 2026	 	No.:  X-D-[__]


 


This certifies that [              ]
is the registered owner of a beneficial ownership interest in a Trust Fund, including the distributions to be made with respect
to the Class X-D Certificates. The Trust Fund, described more fully below, consists primarily of a pool of Mortgage Loans
secured by first liens on commercial, multifamily and manufactured housing community properties and held in trust by the Trustee
and serviced by the Master Servicer. The Trust Fund was created, and the Mortgage Loans are to be serviced, pursuant to the Pooling
and Servicing Agreement (as defined below). The Holder of this Certificate, by virtue of the acceptance hereof, assents to the
terms, provisions and conditions of the Pooling and Servicing Agreement and is bound thereby.


 


The Pooling and Servicing Agreement,
dated as of April 1, 2016 (the “Pooling and Servicing Agreement”), between the Depositor, Wells Fargo Bank,
National Association, as master servicer (in such capacity, the “Master Servicer”), Midland Loan Services, a
Division of PNC Bank, National Association, as special servicer (the “Special Servicer”), Wilmington Trust,
National Association, as trustee (the “Trustee”), Wells Fargo Bank, National Association, as certificate administrator
(in such capacity, the “Certificate Administrator”), paying agent and





 





 






5 For
Rule 144A Certificates


6
For Regulation S Certificates


7
For IAI Certificates


8
For Rule 144A Certificates


9
For Regulation S Certificates


10 
For IAI Certificates


 



    	A-18-3



    	 



    




 


custodian,
Park Bridge Lender Services LLC, as operating advisor (in such capacity, the “Operating
Advisor”), and Park Bridge Lender Services LLC, as asset representations
reviewer (in such capacity, the “Asset Representations Reviewer”) evidences the issuance of the Class A-1,
Class A-2, Class A-SB, Class A-3A, Class A-4, Class X-A, Class A-M, Class B, Class C, Class A-3B, Class X-B,
Class X-C, Class X-D, Class X-E, Class X-F, Class D, Class E, Class F, Class G, Class H and Class R Certificates
(the “Certificates”; the Holders of Certificates issued under the Pooling and Servicing Agreement are collectively
referred to herein as “Certificateholders”). This Certificate is issued pursuant to, and in accordance with,
the terms of the Pooling and Servicing Agreement. To the extent not defined herein, capitalized terms used herein shall have the
meanings assigned thereto in the Pooling and Servicing Agreement.


 


This Certificate represents a
“regular interest” in a “real estate mortgage investment conduit”, as those terms are defined, respectively,
in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this Certificate, by acceptance
hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in accordance with the preceding
sentence for purposes of federal income taxes, state and local income and franchise taxes and other taxes imposed on or measured
by income.


 


The Certificate Administrator
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Mortgage Loans and has executed this Certificate in its limited capacity as Certificate Administrator under the Pooling
and Servicing Agreement. In the event that there is any conflict between any provision of this Certificate and any provision of
the Pooling and Servicing Agreement, such provision of this Certificate shall be superseded to the extent of such inconsistency.


 


Pursuant to the terms of the
Pooling and Servicing Agreement, the Certificate Administrator, or the Paying Agent on behalf of the Certificate Administrator,
will distribute (other than the final distribution on any Certificate), on the fourth Business Day after each Determination Date
(each such date, a “Distribution Date”) an amount equal to such Person’s pro rata share (based on the
Percentage Interest represented by this Certificate) of that portion of the aggregate amount of interest then distributable, if
any, allocable to the Class X-D Certificates for such Distribution Date, all as more fully described in the Pooling and Servicing
Agreement. “Determination Date” is defined in the Pooling and Servicing Agreement as the sixth day of each month, or
if such sixth day is not a Business Day, then the next Business Day, commencing in May 2016. Holders of this Certificate may be
entitled to Prepayment Premiums and Yield Maintenance Charges as provided in the Pooling and Servicing Agreement.


 


During each Interest Accrual
Period (as defined below), interest on the Class X-D Certificates will be calculated based on a 360-day year consisting of
twelve 30-day months on the outstanding Notional Balance hereof.


 


Interest accrued on this Certificate
during an Interest Accrual Period, plus the aggregate unpaid Interest Shortfall with respect to this Certificate, if any, will
be payable on the related Distribution Date to the extent provided in the Pooling and Servicing Agreement. The “Interest
Accrual Period” means, with respect to any Distribution Date, the calendar month immediately preceding the month in which
such Distribution Date occurs. Each Interest Accrual Period is assumed to consist of 30 days.


 






    	A-18-4



    	 



    

 


All distributions (other than
the final distribution on any Certificate) will be made by the Paying Agent to the Persons in whose names the Certificates are
registered at the close of business on each Record Date, which will be the close of business on the last Business Day of the calendar
month preceding the month in which such Distribution Date occurs. Such distributions shall be made on each Distribution Date other
than the Termination Date to each Certificateholder of record on the related Record Date, (i) by wire transfer of immediately available
funds to the account of such Holder at a bank or other entity located in the United States and having appropriate facilities therefor
if such Holder shall have provided the Paying Agent with wire instructions in writing at least five Business Days prior to the
related Record Date (which wiring instructions may be in the form of a standing order applicable to all subsequent distributions),
or (ii) otherwise, by check mailed by first-class mail to the address set forth therefor in the Certificate Register. The final
distribution on each Certificate shall be made in like manner, but only upon presentment and surrender of such Certificate at the
office of the Certificate Administrator or its agent (which may be the Paying Agent or the Certificate Registrar acting as such
agent) that is specified in the notice to Holders of such final distribution.


 


Any funds not distributed on
the Termination Date because of the failure of any Certificateholders to tender their Certificates shall, on such date, be set
aside and held for the benefit of the appropriate non-tendering Certificateholders. If any Certificates as to which notice of the
Termination Date has been given pursuant to the Pooling and Servicing Agreement shall not have been surrendered for cancellation
within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders to surrender their Certificates for cancellation to receive the final distribution with respect
thereto. If within one year after the second notice not all of such Certificates shall have been surrendered for cancellation,
the Certificate Administrator may, directly or through an agent, take appropriate steps to contact the remaining non-tendering
Certificateholders concerning surrender of their Certificates. The costs and expenses of holding such funds in trust and of contacting
such Certificateholders shall be paid out of such funds. Subject to applicable state escheatment laws, if within two years after
the second notice any such Certificates shall not have been surrendered for cancellation, the Paying Agent shall distribute to
the Certificate Administrator all amounts distributable to the Holders thereof, and the Certificate Administrator shall thereafter
hold such amounts for the benefit of such Holders until the earlier of (i) its termination as Certificate Administrator under the
Pooling and Servicing Agreement and the transfer of such amounts to a successor Certificate Administrator and (ii) the termination
of the Trust Fund and distribution of such amounts to the Class R Certificateholders. No interest shall accrue or be payable to
any Certificateholder on any amount held under the Pooling and Servicing Agreement or by the Certificate Administrator as a result
of such Certificateholder’s failure to surrender its Certificate(s) for final payment thereof in accordance with the Pooling
and Servicing Agreement. Any such amounts transferred to the Certificate Administrator may be invested in Permitted Investments
and all income and gain realized from investment of such funds shall accrue for its benefit.


 


This Certificate is limited in
right of payment to, among other things, certain collections and recoveries in respect of the Mortgage Loans, as more specifically
set forth herein and in the Pooling and Servicing Agreement.


 






    	A-18-5



    	 



    

 


As provided in the Pooling and
Servicing Agreement, the Trust Fund includes (in each case, to the extent of the Trust Fund’s interest therein and specifically
excluding any interest of any Serviced Companion Loan Noteholder therein): (i) such Mortgage Loans as from time to time are subject
to the Pooling and Servicing Agreement, together with the Mortgage Files relating thereto; (ii) all scheduled or unscheduled payments
on or collections in respect of the Mortgage Loans due after the Cut-off Date; (iii) the Trust Fund’s interest in any REO
Property; (iv) all revenues received in respect of any REO Property; (v) any Assignments of Leases, Rents and Profits and any security
agreements related to the Mortgage Loans; (vi) any indemnities or guaranties given as additional security for any Mortgage Loans;
(vii) a security interest in all assets deposited in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts, and Reserve
Accounts; (viii) the Loss of Value Reserve Fund; (ix) the Collection Account, the Serviced Whole Loan Collection Accounts, the
Distribution Accounts, any Gain-on-Sale Reserve Account, the Interest Reserve Account, and the Trust’s interest in any REO
Account, including any amounts on deposit therein, assets credited thereto and any reinvestment income, as applicable; (x) a security
interest in any environmental indemnity agreements relating to the Mortgaged Properties; (xi) a security interest in all insurance
policies with respect to the Mortgage Loans and the Mortgaged Properties; (xii) the rights and remedies under the Mortgage Loan
Purchase Agreements relating to document delivery requirements with respect to the Mortgage Loans and the representations and warranties
of the related Mortgage Loan Seller regarding its Mortgage Loans; (xiii) the Lower-Tier Regular Interests and (xiv) the proceeds
of the foregoing (other than any interest earned on deposits in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts
and any Reserve Accounts, to the extent such interest belongs to the related Borrower). As provided in the Pooling and Servicing
Agreement, withdrawals may be made from certain of the above accounts for purposes other than distributions to Certificateholders.


 


This Certificate does not purport
to summarize the Pooling and Servicing Agreement, and reference is made to the Pooling and Servicing Agreement for the interests,
rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and immunities of
the Certificate Administrator.


 


As provided in the Pooling and
Servicing Agreement and subject to certain limitations set forth therein, this Certificate is transferable or exchangeable only
upon surrender of this Certificate to the Certificate Registrar at its offices together with an assignment and transfer (executed
by the Holder or his duly authorized attorney), subject to the requirements in Article V of the Pooling and Servicing Agreement.
Upon surrender for registration of transfer of this Certificate, subject to the requirements Article V of the Pooling and Servicing
Agreement, the Certificate Administrator shall execute and the Authenticating Agent shall duly authenticate in the name of the
designated transferee or transferees, one or more new Certificates in authorized denominations of a like aggregate denomination
as the Certificate being surrendered. Such Certificates shall be delivered by the Certificate Registrar in accordance with Article
V of the Pooling and Servicing Agreement.


 


Prior to due presentation of
this Certificate for registration of transfer, the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor,
the Asset Representations Reviewer, the Certificate Administrator, the Trustee, the Certificate Registrar, any Paying Agent and
any agent of any of them may treat the Person in whose name this


 






    	A-18-6



    	 



    

 


Certificate
is registered as the owner hereof for all purposes, and none of the Depositor, the Master Servicer, the Special Servicer, the
Certificate Administrator, the Trustee, the Certificate Registrar, any Paying Agent or any agent of any of them shall be affected
by notice or knowledge to the contrary.


 


No fee or service charge shall
be imposed by the Certificate Registrar for its services in respect of any registration of transfer or exchange referred to in
Section 5.02 of the Pooling and Servicing Agreement other than for transfers to Institutional Accredited Investors as provided
in Section 5.02(h) of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional Accredited Investor,
the transferor shall reimburse the Trust Fund for any costs (including the cost of the Certificate Registrar’s counsel’s
review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar as provided
in the Pooling and Servicing Agreement) incurred by the Certificate Registrar in connection with such transfer. The Certificate
Registrar may require payment by each transferor of a sum sufficient to cover any tax, expense or other governmental charge payable
in connection with any such transfer.


 


The Pooling and Servicing Agreement
or any Custodial Agreement may be amended at any time by the Depositor, the Master Servicer, the Special Servicer, the Certificate
Administrator, the Operating Advisor, the Asset Representations Reviewer and the Trustee without the consent of any of the Certificateholders
or any Serviced Companion Loan Noteholders, (i) to cure any ambiguity or to correct any manifest error; (ii) to cause the
provisions of the Pooling and Servicing Agreement or any Custodial Agreement to conform or be consistent with or in furtherance
of the statements made in the Prospectus or Private Placement Memorandum with respect to the Certificates, the Trust or the Pooling
and Servicing Agreement or to correct or supplement any provisions of the Pooling and Servicing Agreement or any Custodial Agreement
which may be defective or inconsistent with any other provisions of the Pooling and Servicing Agreement or any Custodial Agreement;
(iii) to change the timing and/or nature of deposits in the Collection Account, the Distribution Accounts or any REO Account;
provided that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment; (iv) to modify, eliminate or add to any of its provisions to such extent
as shall be necessary to maintain the qualification of any Trust REMIC as a REMIC under the relevant provisions of the Code at
all times that any Certificate is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust Fund or any
Trust REMIC that would be a claim against the Trust Fund or any Trust REMIC; provided that the Trustee and the Certificate
Administrator have received an Opinion of Counsel (at the expense of the party requesting such amendment) to the effect that (a) such
action is necessary or desirable to maintain such qualification or to avoid or minimize the risk of the imposition of any such
tax and (b) such action will not adversely affect in any material respect the interests of any Certificateholder or Companion
Loan Noteholder; (v) to modify, eliminate or add to the provisions any provision hereof restricting transfer of the Class R
Certificates; provided the Depositor has determined that such change shall not, as evidenced by an Opinion of Counsel, cause
the Trust Fund, any Trust REMIC or any of the Certificateholders (other than the Transferor) to be subject to a federal tax caused
by a Transfer to a Person that is a


 



    	A-18-7



    	 



    




 


Disqualified
Organization or a Non-U.S. Tax Person; (vi) to revise or add any other provisions with respect to matters or questions arising
under this Agreement or any other change; provided that the required action shall not adversely affect in any material
respect the interests of any Certificateholder or any holder of a Serviced Pari Passu Companion Loan not consenting thereto as
evidenced in writing by an Opinion of Counsel, at the expense of the party requesting such amendment or as evidenced by a Rating
Agency Confirmation from each of the Rating Agencies with respect to such amendment or supplement and confirmation of the applicable
rating agencies that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of
any securities related to a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied
in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates); (vii) to amend
or supplement any provision hereof to the extent necessary to maintain the then-current ratings assigned to each Class of Certificates
by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of the Rating Agencies and confirmation of the applicable
rating agencies that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of
any securities related to a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied
in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates); provided
that such amendment or supplement shall not adversely affect in any material respect the interests of any Certificateholder
not consenting thereto as evidenced by an Opinion of Counsel; (viii) to modify the provisions of Section 3.06 and Section
3.17 of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable Advances and Workout-Delayed
Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as a Control Termination Event
has not occurred and is not continuing, the Directing Certificateholder, determine that the commercial mortgage backed securities
industry standard for such provisions has changed, in order to conform to such industry standard, (b) such modification does
not adversely affect the status of any Trust REMIC as a REMIC under the relevant provisions of the Code, as evidenced by an Opinion
of Counsel and (c) each Rating Agency has delivered a Rating Agency Confirmation and, with regard to any class of Serviced
Companion Loan Securities, the applicable rating agencies have delivered a confirmation that such action will not result in the
downgrade, withdrawal or qualification of its then-current ratings (provided that such rating agency confirmation may be
considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates);
(ix) to modify the procedures of this Agreement relating to compliance with Rule 17g-5 of the Exchange Act; provided
that such amendment shall not adversely affect in any material respects the interests of any Certificateholders, as evidenced
by (x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation from each
Rating Agency rating such Certificates; and provided, further, that the Certificate Administrator shall give notice
of any such amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website and the
Certificate Administrator shall post such notice to the Certificate Administrator’s Website; and (x) to modify, eliminate
or add to any provisions of the Pooling and Servicing Agreement to such extent as would be necessary to comply with the requirements
for use of Form SF-3 in registered offerings to the extent provided in CFR 239.45(b)(1)(ii), (iii) or (iv).


 


The Pooling and Servicing Agreement
or any Custodial Agreement may also be amended from time to time by the Depositor, the Master Servicer, the Special Servicer, the
Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer and the


 



    	A-18-8



    	 



    




 


Trustee
with the prior written consent of the Holders of Certificates representing not less than a majority of the Percentage Interests
of each Class of Certificates affected thereby (without regard to Certificates held by the Depositor, any of the Depositor’s
Affiliates and/or agents) and each Serviced Companion Loan Noteholder affected thereby for the purpose of adding any provisions
to or changing in any manner or eliminating any of the provisions of the Pooling and Servicing Agreement or modifying in any manner
the rights of the Certificateholders or the Serviced Companion Loan Noteholders; provided, that no such amendment may:


 


		(i)	reduce in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans
or Subordinate Companion Loan which are required to be distributed on any Certificate, without the consent of the Holders of Certificates
representing all of the Percentage Interests of the Class or Classes affected thereby or which are required to be distributed to
any Companion Loan Noteholders without the consent of such Companion Loan Noteholders;



 


		(ii)	reduce the aforesaid percentage of Certificates of any Class the Holders of which are required
to consent to any such amendment or remove the requirement to obtain consent of any Companion Loan Noteholder, in any such case
without the consent of the Holders of all Certificates of such Class then-outstanding or such Companion Loan Noteholder, as applicable;



 


		(iii)	adversely affect the Voting Rights of any Class of Certificates without the consent of the Holders
of all Certificates of such Class then outstanding;



 


		(iv)	change in any manner any defined term used in any Mortgage Loan Purchase Agreement or the obligations
of any Mortgage Loan Seller under such Mortgage Loan Purchase Agreement or otherwise or change any rights of any Mortgage Loan
Seller as a third party beneficiary hereunder, without the consent of such Mortgage Loan Seller; or



 


		(v)	amend the Servicing Standard without the consent of 100% of the Certificateholders or receipt of
Rating Agency Confirmation from each Rating Agency and confirmation of the applicable rating agencies that such action will not
result in the downgrade, withdrawal or qualification of its then-current ratings of any securities related to a Companion Loan,
if any (provided that such rating agency confirmation may be considered satisfied in the same manner as any Rating Agency
Confirmation may be considered satisfied with respect to the Certificates).



 


Further, the Depositor, the Master
Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer and the
Trustee, at any time and from time to time, without the consent of the Certificateholders or, if applicable, the Serviced Companion
Loan Noteholders, may amend the Pooling and Servicing Agreement to modify, eliminate or add to any of its provisions (i) to such
extent as shall be necessary to maintain the qualification of the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC, or


 



    	A-18-9



    	 



    




 


to
prevent the imposition of any additional material state or local taxes, at all times that any Certificates are outstanding; provided that such action, as evidenced by an Opinion of Counsel (obtained at the expense of the Trust Fund), is necessary or helpful
to maintain such qualification or to prevent the imposition of any such taxes, and would not adversely affect in any material
respect the interest of any Certificateholder or if applicable, any Serviced Companion Loan Noteholder or (ii) to the extent necessary
to comply with the Investment Company Act of 1940, as amended, the Exchange Act, Regulation AB, and/or any related regulatory
actions and/or interpretations.


 


The Certificateholder owning
a majority of the Percentage Interest in the Controlling Class and, if no such Certificateholder exercises such option, the
Special Servicer, and if the Special Servicer does not exercise such option, the Master Servicer may effect an early termination
of the Trust Fund, upon not less than 30 days’ prior Notice of Termination given to the Trustee, the Special Servicer and
the Master Servicer any time specifying the Anticipated Termination Date, which shall be on or after the Early Termination Notice
Date (defined as any date as of which the aggregate Stated Principal Balance of the Mortgage Loans remaining in the Trust is less
than 1.0% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date) by purchasing on such date all,
but not less than all, of the Mortgage Loans then included in the Trust Fund, and the Trust’s interest in all property acquired
in respect of any Mortgage Loan, at a purchase price, payable in cash, equal to the sum of, without duplication:


 


		(A)	100% of the Stated Principal Balance of each Mortgage Loan included in the Trust as of the last
day of the month preceding such Anticipated Termination Date (less any P&I Advances previously made on account of principal);



 


		(B)	the fair market value of all other property included in the Trust Fund as of the last day of the
month preceding such Anticipated Termination Date, as determined by an Independent appraiser acceptable to the Master Servicer
as of a date not more than 30 days prior to the last day of the month preceding such Distribution Date;



 


		(C)	all unpaid interest accrued on the unpaid balance of each Mortgage Loan (including any Mortgage
Loan as to which title to the related Mortgaged Property has been acquired) at the Mortgage Rate to the last day of the month preceding
such Anticipated Termination Date (less any P&I Advances previously made on account of interest); and



 


		(D)	the aggregate amount of unreimbursed
                                         Advances, with interest thereon at the Reimbursement Rate, and unpaid Servicing Compensation,
                                         Special Servicing Compensation, Operating Advisor Fees, Certificate Administrator/Trustee
                                         Fees, the CREFC® Intellectual Property Royalty License Fees and Trust
                                         Fund expenses.



 






    	A-18-10



    	 



    

 


In addition, the Pooling and
Servicing Agreement provides that following the date on which the Class X-A Notional Amount, the Class X-B Notional Amount,
the Class X-C Notional Amount and the aggregate Certificate Balance of the Class A-1, Class A-2, Class A-SB, Class A-3A,
Class A-3B, Class A-4, Class A-M, Class B, Class C and Class D Certificates is reduced to zero, the Sole Certificateholder shall
have the right to exchange all of the then-outstanding Certificates (other than (i) the Class X-D, Class X-E Certificates
and Class X-F Certificates if the Sole Certificateholder has only taken an assignment of the Voting Rights of the Class X-D, Class X-E
Certificates and Class X-F Certificates pursuant to the definition of “Sole Certificateholder” and (ii) the Class
R Certificates) for all of the Mortgage Loans and each REO Property remaining in the Trust Fund as contemplated by clause (ii) of
Section 9.01(a) of the Pooling and Servicing Agreement by giving written notice to all the parties to the Pooling and Servicing
Agreement no later than 60 days prior to the anticipated date of exchange.


 


All costs and expenses incurred
by any and all parties to the Pooling and Servicing Agreement or by the Trust Fund in connection with the purchase of the Mortgage
Loans and the other assets of the Trust Fund pursuant to Section 9.01(c) of the Pooling and Servicing Agreement shall be borne
by the party exercising its purchase rights thereunder. The Trustee and the Certificate Administrator shall be entitled to rely
conclusively on any determination made by an Independent appraiser pursuant to Section 9.01(c) of the Pooling and Servicing
Agreement.


 


The respective obligations and
responsibilities of the Master Servicer, the Special Servicer, the Depositor, the Certificate Administrator, the Operating Advisor,
the Asset Representations Reviewer and the Trustee created by the Pooling and Servicing Agreement with respect to the Certificates
(other than the obligations of the Certificate Administrator to make certain payments and to send certain notices to Certificateholders
as set forth in the Pooling and Servicing Agreement) shall terminate upon payment (or provision for payment) to the Certificateholders
and the Serviced Companion Loan Noteholders of all amounts held by or on behalf of the Trustee, the Certificate Administrator
and the Master Servicer, as the case may be, required under the Pooling and Servicing Agreement to be so paid on the Distribution
Date following the earlier to occur of (i) the purchase of the Mortgage Loans and all other property held by the Trust Fund in
accordance with Section 9.01(c) of the Pooling and Servicing Agreement; (ii) the exchange by the Sole Certificateholder of its
Certificates for the Mortgage Loans in accordance with Section 9.01(g) of the Pooling and Servicing Agreement; and (iii) the
later of (a) the receipt or collection of the last payment due on any Mortgage Loan included in the Trust Fund, or (b) the
liquidation and disposition pursuant to the Pooling and Servicing Agreement of the last asset held by the Trust Fund; provided
that in no event shall the trust created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years from
the death of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the United
Kingdom, living on the date hereof.


 


Unless the Certificate of Authentication
on this Certificate has been executed by the Authenticating Agent, by manual signature, this Certificate shall not be entitled
to any benefit under the Pooling and Servicing Agreement or be valid for any purpose.


 









    	A-18-11



    	 



    

 


IN WITNESS WHEREOF, the Certificate Administrator
has caused this Class X-D Certificate to be duly executed.


 


Dated: April __, 2016


	 	 	 
		WELLS FARGO BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Certificate Administrator
	 	 	 
	 	By:	 
	 	 	Authorized Signatory



 


Certificate of Authentication


 


This is one of the Class X-D
Certificates referred to in the Pooling and Servicing Agreement.


 


Dated: April __, 2016


	 	 	 
		WELLS FARGO BANK,
NATIONAL ASSOCIATION, not in its individual capacity but solely as Authenticating Agent
	 	 	 
	 	By:	 
	 	 	Authorized Signatory


 



    	A-18-12



    	 



    





 


EXHIBIT A-19


 


FORM OF CLASS X-E [RULE 144A]1
[REG S]2
CERTIFICATE


 


[UNLESS THIS CERTIFICATE IS PRESENTED BY
AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE
CERTIFICATE REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE
TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE &
CO., HAS AN INTEREST HEREIN.]3


 


THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE
REGISTERED OR QUALIFIED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE
OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED, RESOLD,
PLEDGED OR OTHERWISE TRANSFERRED ONLY IN COMPLIANCE WITH THE SECURITIES ACT AND OTHER APPLICABLE LAWS, AND ONLY (A)(1) PURSUANT
TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (2) FOR SO LONG AS THIS CERTIFICATE IS
ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”), TO AN INSTITUTIONAL INVESTOR
THAT THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING OF RULE 144A (“QUALIFIED
INSTITUTIONAL BUYER”), PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF ANOTHER QUALIFIED INSTITUTIONAL BUYER, WHOM
THE HOLDER HAS INFORMED, IN EACH CASE, THAT THE REOFFER, RESALE, PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A,
(3) TO AN INSTITUTIONAL “ACCREDITED INVESTOR,” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION
D UNDER THE SECURITIES ACT OR ANY ENTITY IN WHICH ALL OF THE EQUITY OWNERS ARE SUCH ACCREDITED INVESTORS, OR (4) TO INSTITUTIONS
THAT ARE A NON-”U.S. PERSON” IN AN “OFFSHORE TRANSACTION,” AS SUCH TERMS ARE DEFINED IN, AND IN ACCORDANCE
WITH RULE 903 OR RULE 904 OF, REGULATION S UNDER THE SECURITIES ACT, AND (B) IN ACCORDANCE WITH ANY OTHER APPLICABLE SECURITIES
LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION.


 





 









1
 For Rule 144A Global Certificates only.




2
 For Reg S Global Certificates only.




3  Legend required
as long as DTC is the Depository under the Pooling and Servicing Agreement.


 






     A-19-1


     

    

 


ANY HOLDER DESIRING TO EFFECT A TRANSFER OF
THIS CERTIFICATE SHALL, AND DOES HEREBY AGREE TO, INDEMNIFY THE CERTIFICATE REGISTRAR, THE CERTIFICATE ADMINISTRATOR, THE TRUSTEE,
THE MASTER SERVICER AND THE DEPOSITOR AGAINST ANY LOSS, LIABILITY OR EXPENSE THAT MAY RESULT IF THE TRANSFER IS NOT EXEMPT FROM
THE SECURITIES ACT OR IS NOT MADE IN ACCORDANCE WITH FEDERAL AND STATE LAWS.


 


THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION
OF OR INTEREST IN THE DEPOSITOR, THE ORIGINATOR, THE MASTER SERVICER, THE SPECIAL SERVICER, THE CERTIFICATE ADMINISTRATOR, THE
CERTIFICATE REGISTRAR, THE OPERATING ADVISOR, THE ASSET REPRESENTATIONS REVIEWER, THE TRUSTEE OR ANY OF THEIR RESPECTIVE AFFILIATES.
NEITHER THE CERTIFICATES NOR THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY.


 


THE HOLDERS OF THIS CLASS X-E CERTIFICATE
WILL BE ENTITLED ONLY TO DISTRIBUTIONS OF INTEREST ON THE NOTIONAL BALANCE OF THE CLASS X-E CERTIFICATES AND WILL NOT BE ENTITLED
TO ANY DISTRIBUTIONS WITH RESPECT TO PRINCIPAL. THE NOTIONAL BALANCE OF THE CLASS X-E CERTIFICATES IS EQUAL TO AN AMOUNT AS
SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW. ACCORDINGLY, THE OUTSTANDING NOTIONAL BALANCE OF THIS CERTIFICATE
AT ANY TIME MAY BE LESS THAN THE INITIAL NOTIONAL BALANCE SET FORTH BELOW.


 


TRANSFERS AND EXCHANGES OF PORTIONS OF THIS
CERTIFICATE ARE SUBJECT TO RESTRICTIONS AS PROVIDED IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.


 


FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE
REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE TERMS ARE DEFINED,
RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED.


 


[THIS CERTIFICATE HAS NOT BEEN AND WILL
NOT BE REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT AND, PRIOR TO THE DATE THAT IS 40 DAYS AFTER THE OFFERING OF THE
CERTIFICATES, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED IN THE UNITED STATES OR TO A U.S. PERSON EXCEPT
PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.]4
 


 


 





 






4
 For Reg S Global Certificates only.


 






     A-19-2


     

    

 


DBJPM 2016-C1 MORTGAGE TRUST

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, CLASS X-E




	 	 	 
	Class X-E Pass-Through Rate: Variable	CUSIP:	


23312LAE85
	 	 	U2401LAE16
	 	 	23312LBB37
	 	 	 
	 	ISIN:	US23312LAE838
	 	 	USU2401LAE129
	 	 	US23312LBB3610
	 	 	 
	Original Aggregate Notional Balance of the Class X-E Certificates: $16,360,000	Initial Notional Balance of this Certificate: $[_____]
	 	 	 
	First Distribution Date: May 12, 2016	Cut-off Date: The close of business on the later of the related due date for each Mortgage Loan in April 2016 and the date of origination of such Mortgage Loan
	 	 	 
	Assumed Final Distribution Date: April 2026	No.: X-E-[__]


 


This certifies that [__________] is the
registered owner of a beneficial ownership interest in a Trust Fund, including the distributions to be made with respect to the
Class X-E Certificates. The Trust Fund, described more fully below, consists primarily of a pool of Mortgage Loans secured
by first liens on commercial, multifamily and manufactured housing community properties and held in trust by the Trustee and serviced
by the Master Servicer. The Trust Fund was created, and the Mortgage Loans are to be serviced, pursuant to the Pooling and Servicing
Agreement (as defined below). The Holder of this Certificate, by virtue of the acceptance hereof, assents to the terms, provisions
and conditions of the Pooling and Servicing Agreement and is bound thereby.


 


The Pooling and Servicing Agreement,
dated as of April 1, 2016 (the “Pooling and Servicing Agreement”), between the Depositor, Wells Fargo Bank,
National Association, as master servicer (in such capacity, the “Master Servicer”), Midland Loan Services, a
Division of PNC Bank, National Association, as special servicer (the “Special Servicer”), Wilmington Trust,
National Association, as trustee (the “Trustee”), Wells Fargo Bank, National Association, as certificate administrator
(in such capacity, the “Certificate Administrator”), paying agent and


 





 








5
 For Rule 144A Certificates





6
 For Regulation S Certificates





7
 For IAI Certificates





8
 For Rule 144A Certificates





9
 For Regulation S Certificates





10 For IAI Certificates


 






     A-19-3


     

    

 


custodian, Park Bridge Lender Services
LLC, as operating advisor (in such capacity, the “Operating Advisor”), and Park Bridge Lender Services
LLC, as asset representations reviewer (in such capacity, the “Asset Representations Reviewer”) evidences
the issuance of the Class A-1, Class A-2, Class A-SB, Class A-3A, Class A-4, Class X-A, Class A-M, Class B, Class C,
Class A-3B, Class X-B, Class X-C, Class X-D, Class X-E, Class X-F, Class D, Class E, Class F, Class G, Class
H and Class R Certificates (the “Certificates”; the Holders of Certificates issued under the Pooling and
Servicing Agreement are collectively referred to herein as “Certificateholders”). This Certificate is issued
pursuant to, and in accordance with, the terms of the Pooling and Servicing Agreement. To the extent not defined herein, capitalized
terms used herein shall have the meanings assigned thereto in the Pooling and Servicing Agreement.


 


This Certificate represents a
“regular interest” in a “real estate mortgage investment conduit”, as those terms are defined, respectively,
in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this Certificate, by acceptance
hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in accordance with the preceding
sentence for purposes of federal income taxes, state and local income and franchise taxes and other taxes imposed on or measured
by income.


 


The Certificate Administrator
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Mortgage Loans and has executed this Certificate in its limited capacity as Certificate Administrator under the Pooling
and Servicing Agreement. In the event that there is any conflict between any provision of this Certificate and any provision of
the Pooling and Servicing Agreement, such provision of this Certificate shall be superseded to the extent of such inconsistency.


 


Pursuant to the terms of the
Pooling and Servicing Agreement, the Certificate Administrator, or the Paying Agent on behalf of the Certificate Administrator,
will distribute (other than the final distribution on any Certificate), on the fourth Business Day after each Determination Date
(each such date, a “Distribution Date”) an amount equal to such Person’s pro rata share (based on the
Percentage Interest represented by this Certificate) of that portion of the aggregate amount of interest then distributable, if
any, allocable to the Class X-E Certificates for such Distribution Date, all as more fully described in the Pooling and Servicing
Agreement. “Determination Date” is defined in the Pooling and Servicing Agreement as the sixth day of each month, or
if such sixth day is not a Business Day, then the next Business Day, commencing in May 2016. Holders of this Certificate may be
entitled to Prepayment Premiums and Yield Maintenance Charges as provided in the Pooling and Servicing Agreement.


 


During each Interest Accrual
Period (as defined below), interest on the Class X-E Certificates will be calculated based on a 360-day year consisting of
twelve 30-day months on the outstanding Notional Balance hereof.


 


Interest accrued on this Certificate
during an Interest Accrual Period, plus the aggregate unpaid Interest Shortfall with respect to this Certificate, if any, will
be payable on the related Distribution Date to the extent provided in the Pooling and Servicing Agreement. The “Interest
Accrual Period” means, with respect to any Distribution Date, the calendar month immediately preceding the month in which
such Distribution Date occurs. Each Interest Accrual Period is assumed to consist of 30 days.


 






     A-19-4


     

    

 


All distributions (other than
the final distribution on any Certificate) will be made by the Paying Agent to the Persons in whose names the Certificates are
registered at the close of business on each Record Date, which will be the close of business on the last Business Day of the calendar
month preceding the month in which such Distribution Date occurs. Such distributions shall be made on each Distribution Date other
than the Termination Date to each Certificateholder of record on the related Record Date, (i) by wire transfer of immediately available
funds to the account of such Holder at a bank or other entity located in the United States and having appropriate facilities therefor
if such Holder shall have provided the Paying Agent with wire instructions in writing at least five Business Days prior to the
related Record Date (which wiring instructions may be in the form of a standing order applicable to all subsequent distributions),
or (ii) otherwise, by check mailed by first-class mail to the address set forth therefor in the Certificate Register. The final
distribution on each Certificate shall be made in like manner, but only upon presentment and surrender of such Certificate at the
office of the Certificate Administrator or its agent (which may be the Paying Agent or the Certificate Registrar acting as such
agent) that is specified in the notice to Holders of such final distribution.


 


Any funds not distributed on
the Termination Date because of the failure of any Certificateholders to tender their Certificates shall, on such date, be set
aside and held for the benefit of the appropriate non-tendering Certificateholders. If any Certificates as to which notice of the
Termination Date has been given pursuant to the Pooling and Servicing Agreement shall not have been surrendered for cancellation
within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders to surrender their Certificates for cancellation to receive the final distribution with respect
thereto. If within one year after the second notice not all of such Certificates shall have been surrendered for cancellation,
the Certificate Administrator may, directly or through an agent, take appropriate steps to contact the remaining non-tendering
Certificateholders concerning surrender of their Certificates. The costs and expenses of holding such funds in trust and of contacting
such Certificateholders shall be paid out of such funds. Subject to applicable state escheatment laws, if within two years after
the second notice any such Certificates shall not have been surrendered for cancellation, the Paying Agent shall distribute to
the Certificate Administrator all amounts distributable to the Holders thereof, and the Certificate Administrator shall thereafter
hold such amounts for the benefit of such Holders until the earlier of (i) its termination as Certificate Administrator under the
Pooling and Servicing Agreement and the transfer of such amounts to a successor Certificate Administrator and (ii) the termination
of the Trust Fund and distribution of such amounts to the Class R Certificateholders. No interest shall accrue or be payable to
any Certificateholder on any amount held under the Pooling and Servicing Agreement or by the Certificate Administrator as a result
of such Certificateholder’s failure to surrender its Certificate(s) for final payment thereof in accordance with the Pooling
and Servicing Agreement. Any such amounts transferred to the Certificate Administrator may be invested in Permitted Investments
and all income and gain realized from investment of such funds shall accrue for its benefit.


 


This Certificate is limited in
right of payment to, among other things, certain collections and recoveries in respect of the Mortgage Loans, as more specifically
set forth herein and in the Pooling and Servicing Agreement.


 






     A-19-5


     

    

 


As provided in the Pooling and
Servicing Agreement, the Trust Fund includes (in each case, to the extent of the Trust Fund’s interest therein and specifically
excluding any interest of any Serviced Companion Loan Noteholder therein): (i) such Mortgage Loans as from time to time are subject
to the Pooling and Servicing Agreement, together with the Mortgage Files relating thereto; (ii) all scheduled or unscheduled payments
on or collections in respect of the Mortgage Loans due after the Cut-off Date; (iii) the Trust Fund’s interest in any REO
Property; (iv) all revenues received in respect of any REO Property; (v) any Assignments of Leases, Rents and Profits and any security
agreements related to the Mortgage Loans; (vi) any indemnities or guaranties given as additional security for any Mortgage Loans;
(vii) a security interest in all assets deposited in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts, and Reserve
Accounts; (viii) the Loss of Value Reserve Fund; (ix) the Collection Account, the Serviced Whole Loan Collection Accounts, the
Distribution Accounts, any Gain-on-Sale Reserve Account, the Interest Reserve Account, and the Trust’s interest in any REO
Account, including any amounts on deposit therein, assets credited thereto and any reinvestment income, as applicable; (x) a security
interest in any environmental indemnity agreements relating to the Mortgaged Properties; (xi) a security interest in all insurance
policies with respect to the Mortgage Loans and the Mortgaged Properties; (xii) the rights and remedies under the Mortgage Loan
Purchase Agreements relating to document delivery requirements with respect to the Mortgage Loans and the representations and warranties
of the related Mortgage Loan Seller regarding its Mortgage Loans; (xiii) the Lower-Tier Regular Interests and (xiv) the proceeds
of the foregoing (other than any interest earned on deposits in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts
and any Reserve Accounts, to the extent such interest belongs to the related Borrower). As provided in the Pooling and Servicing
Agreement, withdrawals may be made from certain of the above accounts for purposes other than distributions to Certificateholders.


 


This Certificate does not purport
to summarize the Pooling and Servicing Agreement, and reference is made to the Pooling and Servicing Agreement for the interests,
rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and immunities of
the Certificate Administrator.


 


As provided in the Pooling and
Servicing Agreement and subject to certain limitations set forth therein, this Certificate is transferable or exchangeable only
upon surrender of this Certificate to the Certificate Registrar at its offices together with an assignment and transfer (executed
by the Holder or his duly authorized attorney), subject to the requirements in Article V of the Pooling and Servicing Agreement.
Upon surrender for registration of transfer of this Certificate, subject to the requirements Article V of the Pooling and Servicing
Agreement, the Certificate Administrator shall execute and the Authenticating Agent shall duly authenticate in the name of the
designated transferee or transferees, one or more new Certificates in authorized denominations of a like aggregate denomination
as the Certificate being surrendered. Such Certificates shall be delivered by the Certificate Registrar in accordance with Article
V of the Pooling and Servicing Agreement.


 


Prior to due presentation of
this Certificate for registration of transfer, the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor,
the Asset Representations Reviewer, the Certificate Administrator, the Trustee, the Certificate Registrar, any Paying Agent and
any agent of any of them may treat the Person in whose name this


 



     A-19-6


     

    

 


Certificate is registered as the owner hereof for all purposes,
and none of the Depositor, the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Certificate
Registrar, any Paying Agent or any agent of any of them shall be affected by notice or knowledge to the contrary.


 


No fee or service charge shall
be imposed by the Certificate Registrar for its services in respect of any registration of transfer or exchange referred to in
Section 5.02 of the Pooling and Servicing Agreement other than for transfers to Institutional Accredited Investors as provided
in Section 5.02(h) of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional Accredited Investor,
the transferor shall reimburse the Trust Fund for any costs (including the cost of the Certificate Registrar’s counsel’s
review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar as provided
in the Pooling and Servicing Agreement) incurred by the Certificate Registrar in connection with such transfer. The Certificate
Registrar may require payment by each transferor of a sum sufficient to cover any tax, expense or other governmental charge payable
in connection with any such transfer.


 


The Pooling and Servicing Agreement
or any Custodial Agreement may be amended at any time by the Depositor, the Master Servicer, the Special Servicer, the Certificate
Administrator, the Operating Advisor, the Asset Representations Reviewer and the Trustee without the consent of any of the Certificateholders
or any Serviced Companion Loan Noteholders, (i) to cure any ambiguity or to correct any manifest error; (ii) to cause the
provisions of the Pooling and Servicing Agreement or any Custodial Agreement to conform or be consistent with or in furtherance
of the statements made in the Prospectus or Private Placement Memorandum with respect to the Certificates, the Trust or the Pooling
and Servicing Agreement or to correct or supplement any provisions of the Pooling and Servicing Agreement or any Custodial Agreement
which may be defective or inconsistent with any other provisions of the Pooling and Servicing Agreement or any Custodial Agreement;
(iii) to change the timing and/or nature of deposits in the Collection Account, the Distribution Accounts or any REO Account;
provided that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment; (iv) to modify, eliminate or add to any of its provisions to such extent
as shall be necessary to maintain the qualification of any Trust REMIC as a REMIC under the relevant provisions of the Code at
all times that any Certificate is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust Fund or any
Trust REMIC that would be a claim against the Trust Fund or any Trust REMIC; provided that the Trustee and the Certificate
Administrator have received an Opinion of Counsel (at the expense of the party requesting such amendment) to the effect that (a) such
action is necessary or desirable to maintain such qualification or to avoid or minimize the risk of the imposition of any such
tax and (b) such action will not adversely affect in any material respect the interests of any Certificateholder or Companion
Loan Noteholder; (v) to modify, eliminate or add to the provisions any provision hereof restricting transfer of the Class R
Certificates; provided the Depositor has determined that such change shall not, as evidenced by an Opinion of Counsel, cause
the Trust Fund, any Trust REMIC or any of the Certificateholders (other than the Transferor) to be subject to a federal tax caused
by a Transfer to a Person that is a


 



     A-19-7


     

    

 


Disqualified Organization or a Non-U.S. Tax Person; (vi) to revise or add any other provisions
with respect to matters or questions arising under this Agreement or any other change; provided that the required action
shall not adversely affect in any material respect the interests of any Certificateholder or any holder of a Serviced Pari Passu
Companion Loan not consenting thereto as evidenced in writing by an Opinion of Counsel, at the expense of the party requesting
such amendment or as evidenced by a Rating Agency Confirmation from each of the Rating Agencies with respect to such amendment
or supplement and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating
agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied
with respect to the Certificates); (vii) to amend or supplement any provision hereof to the extent necessary to maintain the then-current
ratings assigned to each Class of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of
the Rating Agencies and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating
agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied
with respect to the Certificates); provided that such amendment or supplement shall not adversely affect in any material
respect the interests of any Certificateholder not consenting thereto as evidenced by an Opinion of Counsel; (viii) to modify the
provisions of Section 3.06 and Section 3.17 of the Pooling and Servicing Agreement (with respect to reimbursement
of Nonrecoverable Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee
and, for so long as a Control Termination Event has not occurred and is not continuing, the Directing Certificateholder, determine
that the commercial mortgage backed securities industry standard for such provisions has changed, in order to conform to such industry
standard, (b) such modification does not adversely affect the status of any Trust REMIC as a REMIC under the relevant provisions
of the Code, as evidenced by an Opinion of Counsel and (c) each Rating Agency has delivered a Rating Agency Confirmation and,
with regard to any class of Serviced Companion Loan Securities, the applicable rating agencies have delivered a confirmation that
such action will not result in the downgrade, withdrawal or qualification of its then-current ratings (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied
with respect to the Certificates); (ix) to modify the procedures of this Agreement relating to compliance with Rule 17g-5
of the Exchange Act; provided that such amendment shall not adversely affect in any material respects the interests of any
Certificateholders, as evidenced by (x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating
Agency Confirmation from each Rating Agency rating such Certificates; and provided, further, that the Certificate
Administrator shall give notice of any such amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s
Website and the Certificate Administrator shall post such notice to the Certificate Administrator’s Website; and (x) to modify,
eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as would be necessary to comply with the
requirements for use of Form SF-3 in registered offerings to the extent provided in CFR 239.45(b)(1)(ii), (iii) or (iv).


 


The Pooling and Servicing Agreement
or any Custodial Agreement may also be amended from time to time by the Depositor, the Master Servicer, the Special Servicer, the
Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer and the


 



     A-19-8


     

    

 


Trustee with the prior written consent
of the Holders of Certificates representing not less than a majority of the Percentage Interests of each Class of Certificates
affected thereby (without regard to Certificates held by the Depositor, any of the Depositor’s Affiliates and/or agents)
and each Serviced Companion Loan Noteholder affected thereby for the purpose of adding any provisions to or changing in any manner
or eliminating any of the provisions of the Pooling and Servicing Agreement or modifying in any manner the rights of the Certificateholders
or the Serviced Companion Loan Noteholders; provided, that no such amendment may:


 


		(i)	reduce in any manner the amount of, or delay the timing
of, payments received on the Mortgage Loans or Subordinate Companion Loan which are required to be distributed on any Certificate,
without the consent of the Holders of Certificates representing all of the Percentage Interests of the Class or Classes affected
thereby or which are required to be distributed to any Companion Loan Noteholders without the consent of such Companion Loan Noteholders;



 


		(ii)	reduce the aforesaid percentage of Certificates of
any Class the Holders of which are required to consent to any such amendment or remove the requirement to obtain consent of any
Companion Loan Noteholder, in any such case without the consent of the Holders of all Certificates of such Class then-outstanding
or such Companion Loan Noteholder, as applicable;



 


		(iii)	adversely affect the Voting Rights of any Class of
Certificates without the consent of the Holders of all Certificates of such Class then outstanding;



 


		(iv)	change in any manner any defined term used in any
Mortgage Loan Purchase Agreement or the obligations of any Mortgage Loan Seller under such Mortgage Loan Purchase Agreement or
otherwise or change any rights of any Mortgage Loan Seller as a third party beneficiary hereunder, without the consent of such
Mortgage Loan Seller; or



 


		(v)	amend the Servicing Standard without the consent of
100% of the Certificateholders or receipt of Rating Agency Confirmation from each Rating Agency and confirmation of the applicable
rating agencies that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of
any securities related to a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied
in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates).



 


Further, the Depositor, the Master
Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer and the
Trustee, at any time and from time to time, without the consent of the Certificateholders or, if applicable, the Serviced Companion
Loan Noteholders, may amend the Pooling and Servicing Agreement to modify, eliminate or add to any of its provisions (i) to such
extent as shall be necessary to maintain the qualification of the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC, or


 



     A-19-9


     

    

 


to prevent
the imposition of any additional material state or local taxes, at all times that any Certificates are outstanding; provided
that such action, as evidenced by an Opinion of Counsel (obtained at the expense of the Trust Fund), is necessary or helpful
to maintain such qualification or to prevent the imposition of any such taxes, and would not adversely affect in any material respect
the interest of any Certificateholder or if applicable, any Serviced Companion Loan Noteholder or (ii) to the extent necessary
to comply with the Investment Company Act of 1940, as amended, the Exchange Act, Regulation AB, and/or any related regulatory actions
and/or interpretations.


 


The Certificateholder owning
a majority of the Percentage Interest in the Controlling Class and, if no such Certificateholder exercises such option, the
Special Servicer, and if the Special Servicer does not exercise such option, the Master Servicer may effect an early termination
of the Trust Fund, upon not less than 30 days’ prior Notice of Termination given to the Trustee, the Special Servicer and
the Master Servicer any time specifying the Anticipated Termination Date, which shall be on or after the Early Termination Notice
Date (defined as any date as of which the aggregate Stated Principal Balance of the Mortgage Loans remaining in the Trust is less
than 1.0% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date) by purchasing on such date all,
but not less than all, of the Mortgage Loans then included in the Trust Fund, and the Trust’s interest in all property acquired
in respect of any Mortgage Loan, at a purchase price, payable in cash, equal to the sum of, without duplication:


 


		(A)	100% of the Stated Principal Balance of each Mortgage Loan included in the Trust as of the last
day of the month preceding such Anticipated Termination Date (less any P&I Advances previously made on account of principal);



 


		(B)	the fair market value of all other property included in the Trust Fund as of the last day of the
month preceding such Anticipated Termination Date, as determined by an Independent appraiser acceptable to the Master Servicer
as of a date not more than 30 days prior to the last day of the month preceding such Distribution Date;



 


		(C)	all unpaid interest accrued on the unpaid balance of each Mortgage Loan (including any Mortgage
Loan as to which title to the related Mortgaged Property has been acquired) at the Mortgage Rate to the last day of the month preceding
such Anticipated Termination Date (less any P&I Advances previously made on account of interest); and



 


		(D)	the aggregate amount of unreimbursed
                                         Advances, with interest thereon at the Reimbursement Rate, and unpaid Servicing Compensation,
                                         Special Servicing Compensation, Operating Advisor Fees, Certificate Administrator/Trustee
                                         Fees, the CREFC® Intellectual Property Royalty License Fees and Trust
                                         Fund expenses.



 






     A-19-10


     

    

 


In addition, the Pooling and
Servicing Agreement provides that following the date on which the Class X-A Notional Amount, the Class X-B Notional Amount,
the Class X-C Notional Amount and the aggregate Certificate Balance of the Class A-1, Class A-2, Class A-SB, Class A-3A,
Class A-3B, Class A-4, Class A-M, Class B, Class C and Class D Certificates is reduced to zero, the Sole Certificateholder shall
have the right to exchange all of the then-outstanding Certificates (other than (i) the Class X-D, Class X-E Certificates
and Class X-F Certificates if the Sole Certificateholder has only taken an assignment of the Voting Rights of the Class X-D, Class X-E
Certificates and Class X-F Certificates pursuant to the definition of “Sole Certificateholder” and (ii) the Class
R Certificates) for all of the Mortgage Loans and each REO Property remaining in the Trust Fund as contemplated by clause (ii) of
Section 9.01(a) of the Pooling and Servicing Agreement by giving written notice to all the parties to the Pooling and Servicing
Agreement no later than 60 days prior to the anticipated date of exchange.


 


All costs and expenses incurred
by any and all parties to the Pooling and Servicing Agreement or by the Trust Fund in connection with the purchase of the Mortgage
Loans and the other assets of the Trust Fund pursuant to Section 9.01(c) of the Pooling and Servicing Agreement shall be borne
by the party exercising its purchase rights thereunder. The Trustee and the Certificate Administrator shall be entitled to rely
conclusively on any determination made by an Independent appraiser pursuant to Section 9.01(c) of the Pooling and Servicing
Agreement.


 


The respective obligations and
responsibilities of the Master Servicer, the Special Servicer, the Depositor, the Certificate Administrator, the Operating Advisor,
the Asset Representations Reviewer and the Trustee created by the Pooling and Servicing Agreement with respect to the Certificates
(other than the obligations of the Certificate Administrator to make certain payments and to send certain notices to Certificateholders
as set forth in the Pooling and Servicing Agreement) shall terminate upon payment (or provision for payment) to the Certificateholders
and the Serviced Companion Loan Noteholders of all amounts held by or on behalf of the Trustee, the Certificate Administrator and
the Master Servicer, as the case may be, required under the Pooling and Servicing Agreement to be so paid on the Distribution Date
following the earlier to occur of (i) the purchase of the Mortgage Loans and all other property held by the Trust Fund in accordance
with Section 9.01(c) of the Pooling and Servicing Agreement; (ii) the exchange by the Sole Certificateholder of its Certificates
for the Mortgage Loans in accordance with Section 9.01(g) of the Pooling and Servicing Agreement; and (iii) the later of (a) the
receipt or collection of the last payment due on any Mortgage Loan included in the Trust Fund, or (b) the liquidation and
disposition pursuant to the Pooling and Servicing Agreement of the last asset held by the Trust Fund; provided that in no
event shall the trust created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years from the death
of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the United Kingdom, living
on the date hereof.


 


Unless the Certificate of Authentication
on this Certificate has been executed by the Authenticating Agent, by manual signature, this Certificate shall not be entitled
to any benefit under the Pooling and Servicing Agreement or be valid for any purpose.


 






     A-19-11


     

    

 





IN WITNESS WHEREOF, the Certificate Administrator
has caused this Class X-E Certificate to be duly executed.


 


Dated: April __, 2016 


	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Certificate Administrator
	 	 	 
	 	By:	 
	 	 	Authorized Signatory





 


Certificate of Authentication


 


This is one of the Class X-E
Certificates referred to in the Pooling and Servicing Agreement.


 


Dated: April __, 2016 


	 	 	 
	 	WELLS FARGO BANK, NATIONAL
    ASSOCIATION, not in its individual capacity but solely as Authenticating Agent
	 	 	 
	 	By:	 
	 	 	Authorized Signatory


 


 



     A-19-12


     

    




 





EXHIBIT A-20


 


FORM OF CLASS X-F [RULE 144A]1
[REG S]2
CERTIFICATE


 


[UNLESS THIS CERTIFICATE IS PRESENTED BY AN
AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE
REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &
CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]3


 


THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE
REGISTERED OR QUALIFIED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE
OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED, RESOLD,
PLEDGED OR OTHERWISE TRANSFERRED ONLY IN COMPLIANCE WITH THE SECURITIES ACT AND OTHER APPLICABLE LAWS, AND ONLY (A)(1) PURSUANT
TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (2) FOR SO LONG AS THIS CERTIFICATE IS
ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”), TO AN INSTITUTIONAL INVESTOR
THAT THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING OF RULE 144A (“QUALIFIED
INSTITUTIONAL BUYER”), PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF ANOTHER QUALIFIED INSTITUTIONAL BUYER, WHOM
THE HOLDER HAS INFORMED, IN EACH CASE, THAT THE REOFFER, RESALE, PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A,
(3) TO AN INSTITUTIONAL “ACCREDITED INVESTOR,” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION
D UNDER THE SECURITIES ACT OR ANY ENTITY IN WHICH ALL OF THE EQUITY OWNERS ARE SUCH ACCREDITED INVESTORS, OR (4) TO INSTITUTIONS
THAT ARE A NON-”U.S. PERSON” IN AN “OFFSHORE TRANSACTION,” AS SUCH TERMS ARE DEFINED IN, AND IN ACCORDANCE
WITH RULE 903 OR RULE 904 OF, REGULATION S UNDER THE SECURITIES ACT, AND (B) IN ACCORDANCE WITH ANY OTHER APPLICABLE SECURITIES
LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION.


 





 









1
For Rule 144A Global Certificates only.






2 For Reg S Global Certificates only.





3 Legend required as
long as DTC is the Depository under the Pooling and Servicing Agreement.


 






     A-20-1


     

    

 


ANY HOLDER DESIRING TO EFFECT A TRANSFER OF
THIS CERTIFICATE SHALL, AND DOES HEREBY AGREE TO, INDEMNIFY THE CERTIFICATE REGISTRAR, THE CERTIFICATE ADMINISTRATOR, THE TRUSTEE,
THE MASTER SERVICER AND THE DEPOSITOR AGAINST ANY LOSS, LIABILITY OR EXPENSE THAT MAY RESULT IF THE TRANSFER IS NOT EXEMPT FROM
THE SECURITIES ACT OR IS NOT MADE IN ACCORDANCE WITH FEDERAL AND STATE LAWS.


 


THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION
OF OR INTEREST IN THE DEPOSITOR, THE ORIGINATOR, THE MASTER SERVICER, THE SPECIAL SERVICER, THE CERTIFICATE ADMINISTRATOR, THE
CERTIFICATE REGISTRAR, THE OPERATING ADVISOR, THE ASSET REPRESENTATIONS REVIEWER, THE TRUSTEE OR ANY OF THEIR RESPECTIVE AFFILIATES.
NEITHER THE CERTIFICATES NOR THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY.


 


THE HOLDERS OF THIS CLASS X-F CERTIFICATE
WILL BE ENTITLED ONLY TO DISTRIBUTIONS OF INTEREST ON THE NOTIONAL BALANCE OF THE CLASS X-F CERTIFICATES AND WILL NOT BE ENTITLED
TO ANY DISTRIBUTIONS WITH RESPECT TO PRINCIPAL. THE NOTIONAL BALANCE OF THE CLASS X-F CERTIFICATES IS EQUAL TO AN AMOUNT AS
SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW. ACCORDINGLY, THE OUTSTANDING NOTIONAL BALANCE OF THIS CERTIFICATE
AT ANY TIME MAY BE LESS THAN THE INITIAL NOTIONAL BALANCE SET FORTH BELOW.


 


TRANSFERS AND EXCHANGES OF PORTIONS OF THIS
CERTIFICATE ARE SUBJECT TO RESTRICTIONS AS PROVIDED IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.


 


FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE
REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE TERMS ARE DEFINED,
RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED.


 


[THIS CERTIFICATE HAS NOT BEEN AND WILL NOT
BE REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT AND, PRIOR TO THE DATE THAT IS 40 DAYS AFTER THE OFFERING OF THE CERTIFICATES,
MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED IN THE UNITED STATES OR TO A U.S. PERSON EXCEPT PURSUANT TO AN EXEMPTION
FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.]4




 





 






4
For Reg S Global Certificates only.


 






     A-20-2


     

    

 


DBJPM 2016-C1 MORTGAGE TRUST

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, CLASS X-F


 


	Class X-F Pass-Through Rate: Variable	CUSIP:	
        23312LAF55

	 	 	U2401LAF86
	 	 	23312LBC17
	 	 	 
	 	ISIN:	US23312LAF588
	 	 	USU2401LAF869
	 	 	US23312LBC1910
	 	 	 
	Original Aggregate Notional Balance of the Class X-F Certificates: $22,496,828	Initial Notional Balance of this Certificate: $[_____]
	 	 	 
	First Distribution Date: May 12, 2016	Cut-off Date: The close of business on the later of the related due date for each Mortgage Loan in April 2016 and the date of origination of such Mortgage Loan
	 	 	 
	Assumed Final Distribution Date: April 2026	No.: X-F-[__]


 


This certifies that [_________] is the
registered owner of a beneficial ownership interest in a Trust Fund, including the distributions to be made with respect to the
Class X-F Certificates. The Trust Fund, described more fully below, consists primarily of a pool of Mortgage Loans secured
by first liens on commercial, multifamily and manufactured housing community properties and held in trust by the Trustee and serviced
by the Master Servicer. The Trust Fund was created, and the Mortgage Loans are to be serviced, pursuant to the Pooling and Servicing
Agreement (as defined below). The Holder of this Certificate, by virtue of the acceptance hereof, assents to the terms, provisions
and conditions of the Pooling and Servicing Agreement and is bound thereby.


 


The Pooling and Servicing Agreement,
dated as of April 1, 2016 (the “Pooling and Servicing Agreement”), between the Depositor, Wells Fargo Bank,
National Association, as master servicer (in such capacity, the “Master Servicer”), Midland Loan Services, a
Division of PNC Bank, National Association, as special servicer (the “Special Servicer”), Wilmington Trust,
National Association, as trustee (the “Trustee”), Wells Fargo Bank, National Association, as certificate administrator
(in such capacity, the “Certificate Administrator”), paying agent and


 


 









5
For Rule 144A Certificates





6
For Regulation S Certificates





7
For IAI Certificates





8
For Rule 144A Certificates





9
For Regulation S Certificates





10 For IAI Certificates


 



     A-20-3


     

    

 


custodian, Park Bridge Lender Services
LLC, as operating advisor (in such capacity, the “Operating Advisor”), and Park Bridge Lender Services
LLC, as asset representations reviewer (in such capacity, the “Asset Representations Reviewer”) evidences
the issuance of the Class A-1, Class A-2, Class A-SB, Class A-3A, Class A-4, Class X-A, Class A-M, Class B, Class C,
Class A-3B, Class X-B, Class X-C, Class X-D, Class X-E, Class X-F, Class D, Class E, Class F, Class G, Class
H and Class R Certificates (the “Certificates”; the Holders of Certificates issued under the Pooling and
Servicing Agreement are collectively referred to herein as “Certificateholders”). This Certificate is issued
pursuant to, and in accordance with, the terms of the Pooling and Servicing Agreement. To the extent not defined herein, capitalized
terms used herein shall have the meanings assigned thereto in the Pooling and Servicing Agreement.


 


This Certificate represents a
“regular interest” in a “real estate mortgage investment conduit”, as those terms are defined, respectively,
in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this Certificate, by acceptance
hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in accordance with the preceding
sentence for purposes of federal income taxes, state and local income and franchise taxes and other taxes imposed on or measured
by income.


 


The Certificate Administrator
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Mortgage Loans and has executed this Certificate in its limited capacity as Certificate Administrator under the Pooling
and Servicing Agreement. In the event that there is any conflict between any provision of this Certificate and any provision of
the Pooling and Servicing Agreement, such provision of this Certificate shall be superseded to the extent of such inconsistency.


 


Pursuant to the terms of the
Pooling and Servicing Agreement, the Certificate Administrator, or the Paying Agent on behalf of the Certificate Administrator,
will distribute (other than the final distribution on any Certificate), on the fourth Business Day after each Determination Date
(each such date, a “Distribution Date”) an amount equal to such Person’s pro rata share (based on the
Percentage Interest represented by this Certificate) of that portion of the aggregate amount of interest then distributable, if
any, allocable to the Class X-F Certificates for such Distribution Date, all as more fully described in the Pooling and Servicing
Agreement. “Determination Date” is defined in the Pooling and Servicing Agreement as the sixth day of each month, or
if such sixth day is not a Business Day, then the next Business Day, commencing in May 2016. Holders of this Certificate may be
entitled to Prepayment Premiums and Yield Maintenance Charges as provided in the Pooling and Servicing Agreement.


 


During each Interest Accrual
Period (as defined below), interest on the Class X-F Certificates will be calculated based on a 360-day year consisting of
twelve 30-day months on the outstanding Notional Balance hereof.


 


Interest accrued on this Certificate
during an Interest Accrual Period, plus the aggregate unpaid Interest Shortfall with respect to this Certificate, if any, will
be payable on the related Distribution Date to the extent provided in the Pooling and Servicing Agreement. The “Interest
Accrual Period” means, with respect to any Distribution Date, the calendar month immediately preceding the month in which
such Distribution Date occurs. Each Interest Accrual Period is assumed to consist of 30 days.


 






     A-20-4


     

    

 


All distributions (other than
the final distribution on any Certificate) will be made by the Paying Agent to the Persons in whose names the Certificates are
registered at the close of business on each Record Date, which will be the close of business on the last Business Day of the calendar
month preceding the month in which such Distribution Date occurs. Such distributions shall be made on each Distribution Date other
than the Termination Date to each Certificateholder of record on the related Record Date, (i) by wire transfer of immediately available
funds to the account of such Holder at a bank or other entity located in the United States and having appropriate facilities therefor
if such Holder shall have provided the Paying Agent with wire instructions in writing at least five Business Days prior to the
related Record Date (which wiring instructions may be in the form of a standing order applicable to all subsequent distributions),
or (ii) otherwise, by check mailed by first-class mail to the address set forth therefor in the Certificate Register. The final
distribution on each Certificate shall be made in like manner, but only upon presentment and surrender of such Certificate at the
office of the Certificate Administrator or its agent (which may be the Paying Agent or the Certificate Registrar acting as such
agent) that is specified in the notice to Holders of such final distribution.


 


Any funds not distributed on
the Termination Date because of the failure of any Certificateholders to tender their Certificates shall, on such date, be set
aside and held for the benefit of the appropriate non-tendering Certificateholders. If any Certificates as to which notice of the
Termination Date has been given pursuant to the Pooling and Servicing Agreement shall not have been surrendered for cancellation
within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders to surrender their Certificates for cancellation to receive the final distribution with respect
thereto. If within one year after the second notice not all of such Certificates shall have been surrendered for cancellation,
the Certificate Administrator may, directly or through an agent, take appropriate steps to contact the remaining non-tendering
Certificateholders concerning surrender of their Certificates. The costs and expenses of holding such funds in trust and of contacting
such Certificateholders shall be paid out of such funds. Subject to applicable state escheatment laws, if within two years after
the second notice any such Certificates shall not have been surrendered for cancellation, the Paying Agent shall distribute to
the Certificate Administrator all amounts distributable to the Holders thereof, and the Certificate Administrator shall thereafter
hold such amounts for the benefit of such Holders until the earlier of (i) its termination as Certificate Administrator under the
Pooling and Servicing Agreement and the transfer of such amounts to a successor Certificate Administrator and (ii) the termination
of the Trust Fund and distribution of such amounts to the Class R Certificateholders. No interest shall accrue or be payable to
any Certificateholder on any amount held under the Pooling and Servicing Agreement or by the Certificate Administrator as a result
of such Certificateholder’s failure to surrender its Certificate(s) for final payment thereof in accordance with the Pooling
and Servicing Agreement. Any such amounts transferred to the Certificate Administrator may be invested in Permitted Investments
and all income and gain realized from investment of such funds shall accrue for its benefit.


 


This Certificate is limited in
right of payment to, among other things, certain collections and recoveries in respect of the Mortgage Loans, as more specifically
set forth herein and in the Pooling and Servicing Agreement.


 






     A-20-5


     

    

 


As provided in the Pooling and
Servicing Agreement, the Trust Fund includes (in each case, to the extent of the Trust Fund’s interest therein and specifically
excluding any interest of any Serviced Companion Loan Noteholder therein): (i) such Mortgage Loans as from time to time are subject
to the Pooling and Servicing Agreement, together with the Mortgage Files relating thereto; (ii) all scheduled or unscheduled payments
on or collections in respect of the Mortgage Loans due after the Cut-off Date; (iii) the Trust Fund’s interest in any REO
Property; (iv) all revenues received in respect of any REO Property; (v) any Assignments of Leases, Rents and Profits and any security
agreements related to the Mortgage Loans; (vi) any indemnities or guaranties given as additional security for any Mortgage Loans;
(vii) a security interest in all assets deposited in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts, and Reserve
Accounts; (viii) the Loss of Value Reserve Fund; (ix) the Collection Account, the Serviced Whole Loan Collection Accounts, the
Distribution Accounts, any Gain-on-Sale Reserve Account, the Interest Reserve Account, and the Trust’s interest in any REO
Account, including any amounts on deposit therein, assets credited thereto and any reinvestment income, as applicable; (x) a security
interest in any environmental indemnity agreements relating to the Mortgaged Properties; (xi) a security interest in all insurance
policies with respect to the Mortgage Loans and the Mortgaged Properties; (xii) the rights and remedies under the Mortgage Loan
Purchase Agreements relating to document delivery requirements with respect to the Mortgage Loans and the representations and warranties
of the related Mortgage Loan Seller regarding its Mortgage Loans; (xiii) the Lower-Tier Regular Interests and (xiv) the proceeds
of the foregoing (other than any interest earned on deposits in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts
and any Reserve Accounts, to the extent such interest belongs to the related Borrower). As provided in the Pooling and Servicing
Agreement, withdrawals may be made from certain of the above accounts for purposes other than distributions to Certificateholders.


 


This Certificate does not purport
to summarize the Pooling and Servicing Agreement, and reference is made to the Pooling and Servicing Agreement for the interests,
rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and immunities of
the Certificate Administrator.


 


As provided in the Pooling and
Servicing Agreement and subject to certain limitations set forth therein, this Certificate is transferable or exchangeable only
upon surrender of this Certificate to the Certificate Registrar at its offices together with an assignment and transfer (executed
by the Holder or his duly authorized attorney), subject to the requirements in Article V of the Pooling and Servicing Agreement.
Upon surrender for registration of transfer of this Certificate, subject to the requirements Article V of the Pooling and Servicing
Agreement, the Certificate Administrator shall execute and the Authenticating Agent shall duly authenticate in the name of the
designated transferee or transferees, one or more new Certificates in authorized denominations of a like aggregate denomination
as the Certificate being surrendered. Such Certificates shall be delivered by the Certificate Registrar in accordance with Article
V of the Pooling and Servicing Agreement.


 


Prior to due presentation of
this Certificate for registration of transfer, the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor,
the Asset Representations Reviewer, the Certificate Administrator, the Trustee, the Certificate Registrar, any Paying Agent and
any agent of any of them may treat the Person in whose name this


 



     A-20-6


     

    

 


Certificate is registered as the owner hereof for all purposes,
and none of the Depositor, the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Certificate
Registrar, any Paying Agent or any agent of any of them shall be affected by notice or knowledge to the contrary.


 


No fee or service charge shall
be imposed by the Certificate Registrar for its services in respect of any registration of transfer or exchange referred to in
Section 5.02 of the Pooling and Servicing Agreement other than for transfers to Institutional Accredited Investors as provided
in Section 5.02(h) of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional Accredited Investor,
the transferor shall reimburse the Trust Fund for any costs (including the cost of the Certificate Registrar’s counsel’s
review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar as provided
in the Pooling and Servicing Agreement) incurred by the Certificate Registrar in connection with such transfer. The Certificate
Registrar may require payment by each transferor of a sum sufficient to cover any tax, expense or other governmental charge payable
in connection with any such transfer.


 


The Pooling and Servicing Agreement
or any Custodial Agreement may be amended at any time by the Depositor, the Master Servicer, the Special Servicer, the Certificate
Administrator, the Operating Advisor, the Asset Representations Reviewer and the Trustee without the consent of any of the Certificateholders
or any Serviced Companion Loan Noteholders, (i) to cure any ambiguity or to correct any manifest error; (ii) to cause the
provisions of the Pooling and Servicing Agreement or any Custodial Agreement to conform or be consistent with or in furtherance
of the statements made in the Prospectus or Private Placement Memorandum with respect to the Certificates, the Trust or the Pooling
and Servicing Agreement or to correct or supplement any provisions of the Pooling and Servicing Agreement or any Custodial Agreement
which may be defective or inconsistent with any other provisions of the Pooling and Servicing Agreement or any Custodial Agreement;
(iii) to change the timing and/or nature of deposits in the Collection Account, the Distribution Accounts or any REO Account;
provided that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment; (iv) to modify, eliminate or add to any of its provisions to such extent
as shall be necessary to maintain the qualification of any Trust REMIC as a REMIC under the relevant provisions of the Code at
all times that any Certificate is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust Fund or any
Trust REMIC that would be a claim against the Trust Fund or any Trust REMIC; provided that the Trustee and the Certificate
Administrator have received an Opinion of Counsel (at the expense of the party requesting such amendment) to the effect that (a) such
action is necessary or desirable to maintain such qualification or to avoid or minimize the risk of the imposition of any such
tax and (b) such action will not adversely affect in any material respect the interests of any Certificateholder or Companion
Loan Noteholder; (v) to modify, eliminate or add to the provisions any provision hereof restricting transfer of the Class R
Certificates; provided the Depositor has determined that such change shall not, as evidenced by an Opinion of Counsel, cause
the Trust Fund, any Trust REMIC or any of the Certificateholders (other than the Transferor) to be subject to a federal tax caused
by a Transfer to a Person that is a


 



     A-20-7


     

    

 


Disqualified Organization or a Non-U.S. Tax Person; (vi) to revise or add any other provisions
with respect to matters or questions arising under this Agreement or any other change; provided that the required action
shall not adversely affect in any material respect the interests of any Certificateholder or any holder of a Serviced Pari Passu
Companion Loan not consenting thereto as evidenced in writing by an Opinion of Counsel, at the expense of the party requesting
such amendment or as evidenced by a Rating Agency Confirmation from each of the Rating Agencies with respect to such amendment
or supplement and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating
agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied
with respect to the Certificates); (vii) to amend or supplement any provision hereof to the extent necessary to maintain the then-current
ratings assigned to each Class of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of
the Rating Agencies and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating
agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied
with respect to the Certificates); provided that such amendment or supplement shall not adversely affect in any material
respect the interests of any Certificateholder not consenting thereto as evidenced by an Opinion of Counsel; (viii) to modify the
provisions of Section 3.06 and Section 3.17 of the Pooling and Servicing Agreement (with respect to reimbursement
of Nonrecoverable Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee
and, for so long as a Control Termination Event has not occurred and is not continuing, the Directing Certificateholder, determine
that the commercial mortgage backed securities industry standard for such provisions has changed, in order to conform to such industry
standard, (b) such modification does not adversely affect the status of any Trust REMIC as a REMIC under the relevant provisions
of the Code, as evidenced by an Opinion of Counsel and (c) each Rating Agency has delivered a Rating Agency Confirmation and,
with regard to any class of Serviced Companion Loan Securities, the applicable rating agencies have delivered a confirmation that
such action will not result in the downgrade, withdrawal or qualification of its then-current ratings (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied
with respect to the Certificates); (ix) to modify the procedures of this Agreement relating to compliance with Rule 17g-5
of the Exchange Act; provided that such amendment shall not adversely affect in any material respects the interests of any
Certificateholders, as evidenced by (x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating
Agency Confirmation from each Rating Agency rating such Certificates; and provided, further, that the Certificate
Administrator shall give notice of any such amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s
Website and the Certificate Administrator shall post such notice to the Certificate Administrator’s Website; and (x) to modify,
eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as would be necessary to comply with the
requirements for use of Form SF-3 in registered offerings to the extent provided in CFR 239.45(b)(1)(ii), (iii) or (iv).


 


The Pooling and Servicing Agreement
or any Custodial Agreement may also be amended from time to time by the Depositor, the Master Servicer, the Special Servicer, the
Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer and the


 



     A-20-8


     

    

 


Trustee with the prior written consent
of the Holders of Certificates representing not less than a majority of the Percentage Interests of each Class of Certificates
affected thereby (without regard to Certificates held by the Depositor, any of the Depositor’s Affiliates and/or agents)
and each Serviced Companion Loan Noteholder affected thereby for the purpose of adding any provisions to or changing in any manner
or eliminating any of the provisions of the Pooling and Servicing Agreement or modifying in any manner the rights of the Certificateholders
or the Serviced Companion Loan Noteholders; provided, that no such amendment may:


 


		(i)	reduce in any manner the amount of, or delay the timing
of, payments received on the Mortgage Loans or Subordinate Companion Loan which are required to be distributed on any Certificate,
without the consent of the Holders of Certificates representing all of the Percentage Interests of the Class or Classes affected
thereby or which are required to be distributed to any Companion Loan Noteholders without the consent of such Companion Loan Noteholders;



 


		(ii)	reduce the aforesaid percentage of Certificates of
any Class the Holders of which are required to consent to any such amendment or remove the requirement to obtain consent of any
Companion Loan Noteholder, in any such case without the consent of the Holders of all Certificates of such Class then-outstanding
or such Companion Loan Noteholder, as applicable;



 


		(iii)	adversely affect the Voting Rights of any Class of
Certificates without the consent of the Holders of all Certificates of such Class then outstanding;



 


		(iv)	change in any manner any defined term used in any
Mortgage Loan Purchase Agreement or the obligations of any Mortgage Loan Seller under such Mortgage Loan Purchase Agreement or
otherwise or change any rights of any Mortgage Loan Seller as a third party beneficiary hereunder, without the consent of such
Mortgage Loan Seller; or



 


		(v)	amend the Servicing Standard without the consent of
100% of the Certificateholders or receipt of Rating Agency Confirmation from each Rating Agency and confirmation of the applicable
rating agencies that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of
any securities related to a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied
in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates).



 


Further, the Depositor, the Master
Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer and the
Trustee, at any time and from time to time, without the consent of the Certificateholders or, if applicable, the Serviced Companion
Loan Noteholders, may amend the Pooling and Servicing Agreement to modify, eliminate or add to any of its provisions (i) to such
extent as shall be necessary to maintain the qualification of the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC, or






     A-20-9


     

    

 


to prevent
the imposition of any additional material state or local taxes, at all times that any Certificates are outstanding; provided
that such action, as evidenced by an Opinion of Counsel (obtained at the expense of the Trust Fund), is necessary or helpful
to maintain such qualification or to prevent the imposition of any such taxes, and would not adversely affect in any material respect
the interest of any Certificateholder or if applicable, any Serviced Companion Loan Noteholder or (ii) to the extent necessary
to comply with the Investment Company Act of 1940, as amended, the Exchange Act, Regulation AB, and/or any related regulatory actions
and/or interpretations.


 


The Certificateholder owning
a majority of the Percentage Interest in the Controlling Class and, if no such Certificateholder exercises such option, the
Special Servicer, and if the Special Servicer does not exercise such option, the Master Servicer may effect an early termination
of the Trust Fund, upon not less than 30 days’ prior Notice of Termination given to the Trustee, the Special Servicer and
the Master Servicer any time specifying the Anticipated Termination Date, which shall be on or after the Early Termination Notice
Date (defined as any date as of which the aggregate Stated Principal Balance of the Mortgage Loans remaining in the Trust is less
than 1.0% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date) by purchasing on such date all,
but not less than all, of the Mortgage Loans then included in the Trust Fund, and the Trust’s interest in all property acquired
in respect of any Mortgage Loan, at a purchase price, payable in cash, equal to the sum of, without duplication:


 


		(A)	100% of the Stated Principal Balance of each Mortgage Loan included in the Trust as of the last
day of the month preceding such Anticipated Termination Date (less any P&I Advances previously made on account of principal);



 


		(B)	the fair market value of all other property included in the Trust Fund as of the last day of the
month preceding such Anticipated Termination Date, as determined by an Independent appraiser acceptable to the Master Servicer
as of a date not more than 30 days prior to the last day of the month preceding such Distribution Date;



 


		(C)	all unpaid interest accrued on the unpaid balance of each Mortgage Loan (including any Mortgage
Loan as to which title to the related Mortgaged Property has been acquired) at the Mortgage Rate to the last day of the month preceding
such Anticipated Termination Date (less any P&I Advances previously made on account of interest); and



 


		(D)	the aggregate amount of unreimbursed
                                         Advances, with interest thereon at the Reimbursement Rate, and unpaid Servicing Compensation,
                                         Special Servicing Compensation, Operating Advisor Fees, Certificate Administrator/Trustee
                                         Fees, the CREFC® Intellectual Property Royalty License Fees and Trust
                                         Fund expenses.



 






     A-20-10


     

    

 


In addition, the Pooling and
Servicing Agreement provides that following the date on which the Class X-A Notional Amount, the Class X-B Notional Amount,
the Class X-C Notional Amount and the aggregate Certificate Balance of the Class A-1, Class A-2, Class A-SB, Class A-3A,
Class A-3B, Class A-4, Class A-M, Class B, Class C and Class D Certificates is reduced to zero, the Sole Certificateholder shall
have the right to exchange all of the then-outstanding Certificates (other than (i) the Class X-D, Class X-E Certificates
and Class X-F Certificates if the Sole Certificateholder has only taken an assignment of the Voting Rights of the Class X-D, Class X-E
Certificates and Class X-F Certificates pursuant to the definition of “Sole Certificateholder” and (ii) the Class
R Certificates) for all of the Mortgage Loans and each REO Property remaining in the Trust Fund as contemplated by clause (ii) of
Section 9.01(a) of the Pooling and Servicing Agreement by giving written notice to all the parties to the Pooling and Servicing
Agreement no later than 60 days prior to the anticipated date of exchange.


 


All costs and expenses incurred
by any and all parties to the Pooling and Servicing Agreement or by the Trust Fund in connection with the purchase of the Mortgage
Loans and the other assets of the Trust Fund pursuant to Section 9.01(c) of the Pooling and Servicing Agreement shall be borne
by the party exercising its purchase rights thereunder. The Trustee and the Certificate Administrator shall be entitled to rely
conclusively on any determination made by an Independent appraiser pursuant to Section 9.01(c) of the Pooling and Servicing
Agreement.


 


The respective obligations and
responsibilities of the Master Servicer, the Special Servicer, the Depositor, the Certificate Administrator, the Operating Advisor,
the Asset Representations Reviewer and the Trustee created by the Pooling and Servicing Agreement with respect to the Certificates
(other than the obligations of the Certificate Administrator to make certain payments and to send certain notices to Certificateholders
as set forth in the Pooling and Servicing Agreement) shall terminate upon payment (or provision for payment) to the Certificateholders
and the Serviced Companion Loan Noteholders of all amounts held by or on behalf of the Trustee, the Certificate Administrator and
the Master Servicer, as the case may be, required under the Pooling and Servicing Agreement to be so paid on the Distribution Date
following the earlier to occur of (i) the purchase of the Mortgage Loans and all other property held by the Trust Fund in accordance
with Section 9.01(c) of the Pooling and Servicing Agreement; (ii) the exchange by the Sole Certificateholder of its Certificates
for the Mortgage Loans in accordance with Section 9.01(g) of the Pooling and Servicing Agreement; and (iii) the later of (a) the
receipt or collection of the last payment due on any Mortgage Loan included in the Trust Fund, or (b) the liquidation and
disposition pursuant to the Pooling and Servicing Agreement of the last asset held by the Trust Fund; provided that in no
event shall the trust created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years from the death
of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the United Kingdom, living
on the date hereof.


 


Unless the Certificate of Authentication
on this Certificate has been executed by the Authenticating Agent, by manual signature, this Certificate shall not be entitled
to any benefit under the Pooling and Servicing Agreement or be valid for any purpose.


 






     A-20-11


     

    

 





IN WITNESS WHEREOF, the Certificate Administrator
has caused this Class X-F Certificate to be duly executed.


 


Dated: April __, 2016 


	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Certificate Administrator
	 	 	 
	 	By:	 
	 	 	Authorized Signatory





 


Certificate of Authentication


 


This is one of the Class X-F
Certificates referred to in the Pooling and Servicing Agreement.


 


Dated: April __, 2016





	 	 	 
	 	WELLS FARGO BANK, NATIONAL
    ASSOCIATION, not in its individual capacity but solely as Authenticating Agent
	 	 	 
	 	By:	 
	 	 	Authorized Signatory


 






     A-20-12


     

    

 






 


EXHIBIT
A-21


 


FORM
OF CLASS R CERTIFICATE


 


THIS
CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN THE DEPOSITOR, THE ORIGINATOR, THE MASTER SERVICER, THE SPECIAL
SERVICER, THE CERTIFICATE ADMINISTRATOR, THE CERTIFICATE REGISTRAR, THE OPERATING ADVISOR, THE ASSET REPRESENTATIONS REVIEWER,
THE TRUSTEE OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THE CERTIFICATES NOR THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED
BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY.


 


FOR
U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS A “RESIDUAL INTEREST” IN TWO “REAL ESTATE MORTGAGE
INVESTMENT CONDUITS” AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(2) AND 860D OF THE INTERNAL REVENUE CODE
OF 1986, AS AMENDED (THE “CODE”). A TRANSFEREE OF THIS CERTIFICATE, BY ACCEPTANCE HEREOF, IS DEEMED TO HAVE ACCEPTED
THIS CERTIFICATE SUBJECT TO CERTAIN RESTRICTIONS ON TRANSFERABILITY, AS SET FORTH IN SECTION 5.02(l) OF THE POOLING AND SERVICING
AGREEMENT, AND SHALL BE REQUIRED TO FURNISH AN AFFIDAVIT TO THE TRANSFEROR AND THE CERTIFICATE ADMINISTRATOR TO THE EFFECT THAT,
AMONG OTHER THINGS, (A) IT IS NOT A DISQUALIFIED ORGANIZATION, AS SUCH TERM IS DEFINED IN SECTION 860E(e)(5) OF THE CODE, OR AN
AGENT (INCLUDING A BROKER, NOMINEE OR OTHER MIDDLEMAN) FOR SUCH DISQUALIFIED ORGANIZATION AND IS OTHERWISE A PERMITTED TRANSFEREE,
(B) IT WILL NOT CAUSE INCOME WITH RESPECT TO THIS CERTIFICATE TO BE ATTRIBUTABLE TO A FOREIGN PERMANENT ESTABLISHMENT OR FIXED
BASE, WITHIN THE MEANING OF AN APPLICABLE INCOME TAX TREATY, OF SUCH PERSON OR ANY OTHER U.S. PERSON, (C) IT HAS HISTORICALLY
PAID ITS DEBTS AS THEY HAVE COME DUE AND INTENDS TO CONTINUE TO PAY ITS DEBTS AS THEY COME DUE IN THE FUTURE, AND (D) IT INTENDS
TO PAY ANY TAXES ASSOCIATED WITH HOLDING THIS CERTIFICATE AS THEY BECOME DUE. ANY PURPORTED TRANSFER TO A DISQUALIFIED ORGANIZATION
OR OTHER PERSON THAT IS NOT A PERMITTED TRANSFEREE OR OTHERWISE IN VIOLATION OF THESE RESTRICTIONS SHALL BE ABSOLUTELY NULL AND
VOID AND SHALL VEST NO RIGHTS IN ANY PURPORTED TRANSFEREE. BECAUSE THIS CERTIFICATE REPRESENTS MULTIPLE “NON-ECONOMIC RESIDUAL
INTERESTS,” AS DEFINED IN TREASURY REGULATIONS SECTION 1.860E-1(c), TRANSFERS OF THIS CERTIFICATE MAY BE DISREGARDED FOR
FEDERAL INCOME TAX PURPOSES. IN ORDER TO SATISFY A REGULATORY SAFE HARBOR UNDER WHICH SUCH TRANSFERS WILL NOT BE DISREGARDED,
THE TRANSFEROR MAY BE REQUIRED, AMONG OTHER THINGS, TO SATISFY ITSELF AS TO THE FINANCIAL CONDITION OF THE PROPOSED TRANSFEREE
AND EITHER TO PAY A SPECIFIED AMOUNT TO THE


 






    	A-21-1



    	 



    

 


PROPOSED TRANSFEREE OR TRANSFER TO AN ELIGIBLE TRANSFEREE AS PROVIDED IN REGULATIONS.


 


THE
HOLDER OF THIS CERTIFICATE, BY ACCEPTANCE HEREOF, IS DEEMED TO HAVE AGREED TO CONSENT TO ACT AS “TAX MATTERS PERSON”
AND “PARTNERSHIP REPRESENTATIVE” WITHIN THE MEANING OF SECTION 6223 OF THE CODE (TO THE EXTENT SUCH PROVISION IS APPLICABLE
TO THE TRUST REMICS) OF THE TRUST REMICS AND TO THE APPOINTMENT OF THE CERTIFICATE ADMINISTRATOR AS ATTORNEY IN FACT AND AGENT
FOR THE TAX MATTERS PERSON AND “PARTNERSHIP REPRESENTATIVE” OR AS OTHERWISE PROVIDED IN THE POOLING AND SERVICING
AGREEMENT TO PERFORM THE FUNCTIONS OF A “TAX MATTERS PARTNER” AND “PARTNERSHIP REPRESENTATIVE” FOR PURPOSES
OF SUBCHAPTER C OF CHAPTER 63 OF SUBTITLE F OF THE CODE.


 


THIS
CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED OR QUALIFIED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), OR ANY STATE OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE
MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY IN COMPLIANCE WITH THE SECURITIES ACT AND OTHER APPLICABLE LAWS,
AND ONLY (A)(1) PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, OR (2) FOR SO
LONG AS THIS CERTIFICATE IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”),
TO AN INSTITUTIONAL INVESTOR THAT THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING
OF RULE 144A (“QUALIFIED INSTITUTIONAL BUYER”) PURCHASING FOR ITS OWN ACCOUNT, OR FOR THE ACCOUNT OF ANOTHER
QUALIFIED INSTITUTIONAL BUYER, WHOM THE HOLDER HAS INFORMED, IN EACH CASE, THAT THE REOFFER, RESALE, PLEDGE OR OTHER TRANSFER
IS BEING MADE IN RELIANCE ON RULE 144A, AND (B) IN ACCORDANCE WITH ANY OTHER APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED
STATES OR ANY OTHER APPLICABLE JURISDICTION.


 


THE
INITIAL INVESTOR IN THIS CERTIFICATE, AND EACH SUBSEQUENT PURCHASER OF THIS CERTIFICATE, BY PURCHASING THIS CERTIFICATE OR AN
INTEREST HEREIN, IS DEEMED TO HAVE AGREED TO COMPLY WITH CERTAIN TRANSFER REQUIREMENTS SET FORTH IN THE POOLING AND SERVICING
AGREEMENT. A TRANSFEREE IS ALSO REQUIRED TO DELIVER AN INVESTMENT REPRESENTATION LETTER SUBSTANTIALLY IN THE FORM OF EXHIBIT D-1
TO THE POOLING AND SERVICING AGREEMENT IF SUCH TRANSFEREE IS A QUALIFIED INSTITUTIONAL BUYER OR (OTHER THAN WITH RESPECT TO A
RESIDUAL CERTIFICATE) AN INSTITUTIONAL ACCREDITED INVESTOR, AND MAY ALSO BE REQUIRED TO DELIVER AN OPINION OF COUNSEL IF SUCH
TRANSFEREE IS NOT A QUALIFIED INSTITUTIONAL BUYER WITHIN THE MEANING OF RULE 144A.


 






    	A-21-2



    	 



    

 


THIS
CERTIFICATE SHOULD NOT BE PURCHASED BY A TRANSFEREE THAT IS (A) AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT ARRANGEMENT, INCLUDING
AN INDIVIDUAL RETIREMENT ACCOUNT OR A KEOGH PLAN, WHICH IS SUBJECT TO THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS
AMENDED (“ERISA”), SECTION 4975 OF THE CODE, OR A GOVERNMENTAL PLAN, AS DEFINED IN SECTION 3(32) OF ERISA,
OR OTHER PLAN SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW (“SIMILAR LAW”) WHICH IS TO A MATERIAL EXTENT SIMILAR
TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE (EACH, A “PLAN”), OR (B) A COLLECTIVE INVESTMENT FUND WHOSE
UNDERLYING ASSETS INCLUDE PLAN ASSETS BY REASON OF A PLAN’S INVESTMENT IN THE COLLECTIVE INVESTMENT FUND (PURSUANT TO U.S.
DEPARTMENT OF LABOR REGULATION SECTION 2510.3-101, AS MODIFIED BY SECTION 3(42) OF ERISA), AN INSURANCE COMPANY USING ASSETS OF
SEPARATE ACCOUNTS OR GENERAL ACCOUNTS WHICH INCLUDE ASSETS OF PLANS (OR WHICH ARE DEEMED PURSUANT TO ERISA OR ANY SIMILAR LAW
TO INCLUDE ASSETS OF PLANS) OR OTHER PERSON ACTING ON BEHALF OF ANY SUCH PLAN OR USING THE ASSETS OF ANY SUCH PLAN. TRANSFEREES
OF THIS CERTIFICATE TAKING DELIVERY IN CERTIFICATED FORM SHALL BE REQUIRED TO DELIVER A LETTER IN THE FORM ATTACHED TO THE POOLING
AND SERVICING AGREEMENT TO SUCH EFFECT. 


 


TRANSFERS
AND EXCHANGES OF PORTIONS OF THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS AS PROVIDED IN THE POOLING AND SERVICING AGREEMENT REFERRED
TO BELOW.


 


ANY
HOLDER DESIRING TO EFFECT A TRANSFER OF THIS CERTIFICATE SHALL, AND DOES HEREBY AGREE TO, INDEMNIFY THE CERTIFICATE REGISTRAR,
THE CERTIFICATE ADMINISTRATOR, THE TRUSTEE, THE MASTER SERVICER AND THE DEPOSITOR AGAINST ANY LOSS, LIABILITY OR EXPENSE THAT
MAY RESULT IF THE TRANSFER IS NOT EXEMPT FROM THE SECURITIES ACT OR IS NOT MADE IN ACCORDANCE WITH FEDERAL AND STATE LAWS.


 






    	A-21-3



    	 



    

 


DBJPM
2016-C1 MORTGAGE TRUST COMMERCIAL MORTGAGE

PASS-THROUGH CERTIFICATES, CLASS R


 


	No.:
    R-1	Percentage
    Interest: [_]%
	 	 
	 	CUSIP:23312LAM01

         

        ISIN:    US23312LAM002



 


This
certifies that [______] is the registered owner of the Percentage Interest evidenced by this Certificate in the Class R Certificates
issued by the Trust Fund. The Class R Certificateholder is not entitled to interest or principal distributions. The Class R Certificateholder
will be entitled to receive the proceeds of the remaining assets of the Upper-Tier REMIC, if any, on the Final Scheduled Distribution
Date for the Certificates, after distributions in respect of any accrued but unpaid interest on the Certificates and after distributions
in reduction of principal balance have reduced the principal balances of the Certificates to zero. It is not anticipated that
there will be any assets remaining in the Upper-Tier REMIC or Trust Fund on the Final Scheduled Distribution Date following the
distributions on the Regular Certificates. The Trust Fund, described more fully below, consists primarily of a pool of Mortgage
Loans secured by first liens on commercial, multifamily and manufactured housing community properties and held in trust by the
Trustee and serviced by the Master Servicer. The Trust Fund was created, and the Mortgage Loans are to be serviced, pursuant to
the Pooling and Servicing Agreement (as defined below). The Holder of this Certificate, by virtue of the acceptance hereof, assents
to the terms, provisions and conditions of the Pooling and Servicing Agreement and is bound thereby.


 


The
Pooling and Servicing Agreement, dated as of April 1, 2016 (the “Pooling and Servicing Agreement”), between
the Depositor, Wells Fargo Bank, National Association, as master servicer (in such capacity, the “Master Servicer”),
Midland Loan Services, a Division of PNC Bank, National Association, as special servicer (the “Special Servicer”),
Wilmington Trust, National Association, as trustee (the “Trustee”), Wells Fargo Bank, National Association,
as certificate administrator (in such capacity, the “Certificate Administrator”), paying agent and custodian,
Park Bridge Lender Services LLC, as operating advisor (in such capacity, the “Operating
Advisor”), and Park Bridge Lender Services LLC, as asset representations
reviewer (in such capacity, the “Asset Representations Reviewer”) evidences the issuance of the Class A-1,
Class A-2, Class A-SB, Class A-3A, Class A-4, Class X-A, Class A-M, Class B, Class C, Class A-3B, Class X-B, Class X-C, Class
X-D, Class X-E, Class X-F, Class D, Class E, Class F, Class G, Class H and Class R Certificates (the “Certificates”;
the Holders of Certificates issued under the Pooling and Servicing Agreement are collectively referred to herein as “Certificateholders”).
This Certificate is issued pursuant to, and in accordance with, the terms of the Pooling and Servicing Agreement. To the extent
not defined herein, capitalized terms used herein shall have the meanings assigned thereto in the Pooling and Servicing Agreement.


 





 









1 For Rule 144A Certificates 


2 For Rule 144A Certificates


 






    	A-21-4



    	 



    




 


This
Class R Certificate represents the sole “residual interest” in a “real estate mortgage investment conduit”,
as those terms are defined, respectively, in Sections 860G(a)(2) and 860D of the Internal Revenue Code of 1986, as amended. Each
Holder of this Certificate, by acceptance hereof, agrees to treat, and take no action inconsistent with the treatment of, this
Certificate in accordance with the preceding sentence for purposes of federal income taxes, state and local income and franchise
taxes and other taxes imposed on or measured by income. The Holder of the largest Percentage Interest in the Class R Certificates
shall be the “tax matters person” pursuant to Treasury Regulations Section 1.860F-4(d) and “partnership representative”
(within the meaning of Section 6223 of the Code, to the extent such provision is applicable to the Trust REMICs) for each Trust
REMIC, and the Certificate Administrator is hereby irrevocably designated and shall serve as attorney-in-fact and agent for any
such Person that is the “tax matters person” or “partnership representative”.


 


The
Certificate Administrator makes no representation or warranty as to any of the statements contained herein or the validity or
sufficiency of the Certificates or the Mortgage Loans and has executed this Certificate in its limited capacity as Certificate
Administrator under the Pooling and Servicing Agreement. In the event that there is any conflict between any provision of this
Certificate and any provision of the Pooling and Servicing Agreement, such provision of this Certificate shall be superseded to
the extent of such inconsistency.


 


All
distributions (other than the final distribution on any Certificate) will be made by the Paying Agent to the Persons in whose
names the Certificates are registered at the close of business on each Record Date, which will be the close of business on the
last Business Day of the calendar month preceding the month in which such Distribution Date occurs. Such distributions shall be
made on each Distribution Date other than the Termination Date to each Certificateholder of record on the related Record Date,
(i) by wire transfer of immediately available funds to the account of such Holder at a bank or other entity located in the United
States and having appropriate facilities therefor if such Holder shall have provided the Paying Agent with wire instructions in
writing at least five Business Days prior to the related Record Date (which wiring instructions may be in the form of a standing
order applicable to all subsequent distributions), or (ii) otherwise, by check mailed by first-class mail to the address set forth
therefor in the Certificate Register. The final distribution on each Certificate shall be made in like manner, but only upon presentment
and surrender of such Certificate at the office of the Certificate Administrator or its agent (which may be the Paying Agent or
the Certificate Registrar acting as such agent) that is specified in the notice to Holders of such final distribution.


 


Any
funds not distributed on the Termination Date because of the failure of any Certificateholders to tender their Certificates shall,
on such date, be set aside and held for the benefit of the appropriate non-tendering Certificateholders. If any Certificates as
to which notice of the Termination Date has been given pursuant to the Pooling and Servicing Agreement shall not have been surrendered
for cancellation within six months after the time specified in such notice, the Certificate Administrator shall mail a second
notice to the remaining non-tendering Certificateholders to surrender their Certificates for cancellation to receive the final
distribution with respect thereto. If within one year after the second notice not all of such Certificates shall have been surrendered
for cancellation, the Certificate Administrator may, directly or through an agent, take appropriate steps to contact the remaining
non-tendering Certificateholders concerning surrender of their Certificates. The costs and expenses of holding such funds in trust


 






    	A-21-5



    	 



    

 


and of contacting such Certificateholders shall be paid out of such funds. Subject to applicable state escheatment laws, if within
two years after the second notice any such Certificates shall not have been surrendered for cancellation, the Paying Agent shall
distribute to the Certificate Administrator all amounts distributable to the Holders thereof, and the Certificate Administrator
shall thereafter hold such amounts for the benefit of such Holders until the earlier of (i) its termination as Certificate Administrator
under the Pooling and Servicing Agreement and the transfer of such amounts to a successor Certificate Administrator and (ii) the
termination of the Trust Fund and distribution of such amounts to the Class R Certificateholders. No interest shall accrue or
be payable to any Certificateholder on any amount held under the Pooling and Servicing Agreement or by the Certificate Administrator
as a result of such Certificateholder’s failure to surrender its Certificate(s) for final payment thereof in accordance
with the Pooling and Servicing Agreement. Any such amounts transferred to the Certificate Administrator may be invested in Permitted
Investments and all income and gain realized from investment of such funds shall accrue for its benefit.


 


This
Certificate is limited in right of payment to, among other things, certain collections and recoveries in respect of the Mortgage
Loans, as more specifically set forth herein and in the Pooling and Servicing Agreement.


 


As
provided in the Pooling and Servicing Agreement, the Trust Fund includes (in each case, to the extent of the Trust Fund’s
interest therein and specifically excluding any interest of any Serviced Companion Loan Noteholder therein): (i) such Mortgage
Loans as from time to time are subject to the Pooling and Servicing Agreement, together with the Mortgage Files relating thereto;
(ii) all scheduled or unscheduled payments on or collections in respect of the Mortgage Loans due after the Cut-off Date; (iii)
the Trust Fund’s interest in any REO Property; (iv) all revenues received in respect of any REO Property; (v) any Assignments
of Leases, Rents and Profits and any security agreements related to the Mortgage Loans; (vi) any indemnities or guaranties given
as additional security for any Mortgage Loans; (vii) a security interest in all assets deposited in the Lock-Box Accounts, Cash
Collateral Accounts, Escrow Accounts, and Reserve Accounts; (viii) the Loss of Value Reserve Fund; (ix) the Collection Account,
the Serviced Whole Loan Collection Accounts, the Distribution Accounts, any Gain-on-Sale Reserve Account, the Interest Reserve
Account, and the Trust’s interest in any REO Account, including any amounts on deposit therein, assets credited thereto
and any reinvestment income, as applicable; (x) a security interest in any environmental indemnity agreements relating to the
Mortgaged Properties; (xi) a security interest in all insurance policies with respect to the Mortgage Loans and the Mortgaged
Properties; (xii) the rights and remedies under the Mortgage Loan Purchase Agreements relating to document delivery requirements
with respect to the Mortgage Loans and the representations and warranties of the related Mortgage Loan Seller regarding its Mortgage
Loans; (xiii) the Lower-Tier Regular Interests and (xiv) the proceeds of the foregoing (other than any interest earned on deposits
in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts and any Reserve Accounts, to the extent such interest belongs
to the related Borrower). As provided in the Pooling and Servicing Agreement, withdrawals may be made from certain of the above
accounts for purposes other than distributions to Certificateholders.


 


This
Certificate does not purport to summarize the Pooling and Servicing Agreement, and reference is made to the Pooling and Servicing
Agreement for the interests,


 






    	A-21-6



    	 



    

 


rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights,
duties and immunities of the Certificate Administrator.


 


As
provided in the Pooling and Servicing Agreement and subject to certain limitations set forth therein, this Certificate is transferable
or exchangeable only upon surrender of this Certificate to the Certificate Registrar at its offices together with an assignment
and transfer (executed by the Holder or his duly authorized attorney), subject to the requirements in Article V of the Pooling
and Servicing Agreement. Upon surrender for registration of transfer of this Certificate, subject to the requirements Article
V of the Pooling and Servicing Agreement, the Certificate Administrator shall execute and the Authenticating Agent shall duly
authenticate in the name of the designated transferee or transferees, one or more new Certificates in authorized denominations
of a like aggregate denomination as the Certificate being surrendered. Such Certificates shall be delivered by the Certificate
Registrar in accordance with Article V of the Pooling and Servicing Agreement.


 


Prior
to due presentation of this Certificate for registration of transfer, the Depositor, the Master Servicer, the Special Servicer,
the Operating Advisor, the Asset Representations Reviewer, the Certificate Administrator, the Trustee, the Certificate Registrar,
any Paying Agent and any agent of any of them may treat the Person in whose name this Certificate is registered as the owner hereof
for all purposes, and none of the Depositor, the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee,
the Certificate Registrar, any Paying Agent or any agent of any of them shall be affected by notice or knowledge to the contrary.


 


No
fee or service charge shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer
or exchange referred to in Section 5.02 of the Pooling and Servicing Agreement other than for transfers to Institutional Accredited
Investors as provided in Section 5.02(h) of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional
Accredited Investor, the transferor shall reimburse the Trust Fund for any costs (including the cost of the Certificate Registrar’s
counsel’s review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar
as provided in the Pooling and Servicing Agreement) incurred by the Certificate Registrar in connection with such transfer. The
Certificate Registrar may require payment by each transferor of a sum sufficient to cover any tax, expense or other governmental
charge payable in connection with any such transfer.


 


The
Pooling and Servicing Agreement or any Custodial Agreement may be amended at any time by the Depositor, the Master Servicer, the
Special Servicer, the Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer and the Trustee without
the consent of any of the Certificateholders or any Serviced Companion Loan Noteholders, (i) to cure any ambiguity or to correct
any manifest error; (ii) to cause the provisions of the Pooling and Servicing Agreement or any Custodial Agreement to conform
or be consistent with or in furtherance of the statements made in the Prospectus or Private Placement Memorandum with respect
to the Certificates, the Trust or the Pooling and Servicing Agreement or to correct or supplement any provisions of the Pooling
and Servicing Agreement or any Custodial Agreement which may be defective or inconsistent with any other provisions of the Pooling
and Servicing Agreement or any Custodial Agreement; (iii) to change the timing


 






    	A-21-7



    	 



    

 


and/or nature of deposits in the Collection Account,
the Distribution Accounts or any REO Account; provided that (a) the Master Servicer Remittance Date shall in no event be later
than the Business Day prior to the related Distribution Date and (b) such change shall not adversely affect in any material respect
the interests of any Certificateholder, as evidenced in writing by an Opinion of Counsel at the expense of the party requesting
such amendment or as evidenced by a Rating Agency Confirmation from each Rating Agency with respect to such amendment; (iv) to
modify, eliminate or add to any of its provisions to such extent as shall be necessary to maintain the qualification of any Trust
REMIC as a REMIC under the relevant provisions of the Code at all times that any Certificate is outstanding, or to avoid or minimize
the risk of imposition of any tax on the Trust Fund or any Trust REMIC that would be a claim against the Trust Fund or any Trust
REMIC; provided that the Trustee and the Certificate Administrator have received an Opinion of Counsel (at the expense
of the party requesting such amendment) to the effect that (a) such action is necessary or desirable to maintain such qualification
or to avoid or minimize the risk of the imposition of any such tax and (b) such action will not adversely affect in any material
respect the interests of any Certificateholder or Companion Loan Noteholder; (v) to modify, eliminate or add to the provisions
any provision hereof restricting transfer of the Class R Certificates; provided the Depositor has determined that such
change shall not, as evidenced by an Opinion of Counsel, cause the Trust Fund, any Trust REMIC or any of the Certificateholders
(other than the Transferor) to be subject to a federal tax caused by a Transfer to a Person that is a Disqualified Organization
or a Non-U.S. Tax Person; (vi) to revise or add any other provisions with respect to matters or questions arising under this Agreement
or any other change; provided that the required action shall not adversely affect in any material respect the interests
of any Certificateholder or any holder of a Serviced Pari Passu Companion Loan not consenting thereto as evidenced in writing
by an Opinion of Counsel, at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each of the Rating Agencies with respect to such amendment or supplement and confirmation of the applicable rating agencies
that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of any securities related
to a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied in the same manner
as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates); (vii) to amend or supplement
any provision hereof to the extent necessary to maintain the then-current ratings assigned to each Class of Certificates by each
Rating Agency, as evidenced by a Rating Agency Confirmation from each of the Rating Agencies and confirmation of the applicable
rating agencies that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of
any securities related to a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied
in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates); provided that such amendment or supplement shall not adversely affect in any material respect the interests of any Certificateholder
not consenting thereto as evidenced by an Opinion of Counsel; (viii) to modify the provisions of Section 3.06 and Section
3.17 of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable Advances and Workout-Delayed
Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as a Control Termination Event
has not occurred and is not continuing, the Directing Certificateholder, determine that the commercial mortgage backed securities
industry standard for such provisions has changed, in order to conform to such industry standard, (b) such modification does not
adversely affect the status of any Trust REMIC as a REMIC under the relevant provisions of the


 






    	A-21-8



    	 



    

 


Code, as evidenced by an Opinion
of Counsel and (c) each Rating Agency has delivered a Rating Agency Confirmation and, with regard to any class of Serviced Companion
Loan Securities, the applicable rating agencies have delivered a confirmation that such action will not result in the downgrade,
withdrawal or qualification of its then-current ratings (provided that such rating agency confirmation may be considered
satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates);
(ix) to modify the procedures of this Agreement relating to compliance with Rule 17g-5 of the Exchange Act; provided that
such amendment shall not adversely affect in any material respects the interests of any Certificateholders, as evidenced by (x)
an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation from each Rating Agency rating
such Certificates; and provided, further, that the Certificate Administrator shall give notice of any such amendment
to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website and the Certificate Administrator
shall post such notice to the Certificate Administrator’s Website; and (x) to modify, eliminate or add to any provisions
of the Pooling and Servicing Agreement to such extent as would be necessary to comply with the requirements for use of Form SF-3
in registered offerings to the extent provided in CFR 239.45(b)(1)(ii), (iii) or (iv).


 


The
Pooling and Servicing Agreement or any Custodial Agreement may also be amended from time to time by the Depositor, the Master
Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer and the
Trustee with the prior written consent of the Holders of Certificates representing not less than a majority of the Percentage
Interests of each Class of Certificates affected thereby (without regard to Certificates held by the Depositor, any of the Depositor’s
Affiliates and/or agents) and each Serviced Companion Loan Noteholder affected thereby for the purpose of adding any provisions
to or changing in any manner or eliminating any of the provisions of the Pooling and Servicing Agreement or modifying in any manner
the rights of the Certificateholders or the Serviced Companion Loan Noteholders; provided, that no such amendment may:


 


		(i)	reduce
in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans or Subordinate Companion Loan which
are required to be distributed on any Certificate, without the consent of the Holders of Certificates representing all of the
Percentage Interests of the Class or Classes affected thereby or which are required to be distributed to any Companion Loan Noteholders
without the consent of such Companion Loan Noteholders;



 


		(ii)	reduce
the aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment or remove
the requirement to obtain consent of any Companion Loan Noteholder, in any such case without the consent of the Holders of all
Certificates of such Class then-outstanding or such Companion Loan Noteholder, as applicable;



 


		(iii)	adversely
affect the Voting Rights of any Class of Certificates without the consent of the Holders of all Certificates of such Class then
outstanding;



 






    	A-21-9



    	 



    




 


		(iv)	change
in any manner any defined term used in any Mortgage Loan Purchase Agreement or the obligations of any Mortgage Loan Seller under
such Mortgage Loan Purchase Agreement or otherwise or change any rights of any Mortgage Loan Seller as a third party beneficiary
hereunder, without the consent of such Mortgage Loan Seller; or



 


		(v)	amend
the Servicing Standard without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from each
Rating Agency and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates).



 


Further,
the Depositor, the Master Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor, the Asset Representations
Reviewer and the Trustee, at any time and from time to time, without the consent of the Certificateholders or, if applicable,
the Serviced Companion Loan Noteholders, may amend the Pooling and Servicing Agreement to modify, eliminate or add to any of its
provisions (i) to such extent as shall be necessary to maintain the qualification of the Lower-Tier REMIC or the Upper-Tier REMIC
as a REMIC, or to prevent the imposition of any additional material state or local taxes, at all times that any Certificates are
outstanding; provided that such action, as evidenced by an Opinion of Counsel (obtained at the expense of the Trust
Fund), is necessary or helpful to maintain such qualification or to prevent the imposition of any such taxes, and would not adversely
affect in any material respect the interest of any Certificateholder or if applicable, any Serviced Companion Loan Noteholder
or (ii) to the extent necessary to comply with the Investment Company Act of 1940, as amended, the Exchange Act, Regulation AB,
and/or any related regulatory actions and/or interpretations.


 


The
Certificateholder owning a majority of the Percentage Interest in the Controlling Class and, if no such Certificateholder exercises
such option, the Special Servicer, and if the Special Servicer does not exercise such option, the Master Servicer may effect an
early termination of the Trust Fund, upon not less than 30 days’ prior Notice of Termination given to the Trustee, the Special
Servicer and the Master Servicer any time specifying the Anticipated Termination Date, which shall be on or after the Early Termination
Notice Date (defined as any date as of which the aggregate Stated Principal Balance of the Mortgage Loans remaining in the Trust
is less than 1.0% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date) by purchasing on such
date all, but not less than all, of the Mortgage Loans then included in the Trust Fund, and the Trust’s interest in all
property acquired in respect of any Mortgage Loan, at a purchase price, payable in cash, equal to the sum of, without duplication:


 


		(A)	100%
                                         of the Stated Principal Balance of each Mortgage Loan included in the Trust as of the
                                         last day of the month preceding such Anticipated Termination Date (less any P&I Advances
                                         previously made on account of principal);



 






    	A-21-10



    	 



    

 


		(B)	the
                                         fair market value of all other property included in the Trust Fund as of the last day
                                         of the month preceding such Anticipated Termination Date, as determined by an Independent
                                         appraiser acceptable to the Master Servicer as of a date not more than 30 days prior
                                         to the last day of the month preceding such Distribution Date;



 


		(C)	all
                                         unpaid interest accrued on the unpaid balance of each Mortgage Loan (including any Mortgage
                                         Loan as to which title to the related Mortgaged Property has been acquired) at the Mortgage
                                         Rate to the last day of the month preceding such Anticipated Termination Date (less any
                                         P&I Advances previously made on account of interest); and



 


		(D)	the
                                         aggregate amount of unreimbursed Advances, with interest thereon at the Reimbursement
                                         Rate, and unpaid Servicing Compensation, Special Servicing Compensation, Operating Advisor
                                         Fees, Certificate Administrator/Trustee Fees, the CREFC® Intellectual
                                         Property Royalty License Fees and Trust Fund expenses.



 


In
addition, the Pooling and Servicing Agreement provides that following the date on which the Class X-A Notional Amount, the Class
X-B Notional Amount, the Class X-C Notional Amount and the aggregate Certificate Balance of the Class A-1, Class A-2, Class A-SB,
Class A-3A, Class A-3B, Class A-4, Class A-M, Class B, Class C and Class D Certificates is reduced to zero, the Sole Certificateholder
shall have the right to exchange all of the then-outstanding Certificates (other than (i) the Class X-D, Class X-E Certificates
and Class X-F Certificates if the Sole Certificateholder has only taken an assignment of the Voting Rights of the Class X-D, Class
X-E Certificates and Class X-F Certificates pursuant to the definition of “Sole Certificateholder” and (ii) the Class
R Certificates) for all of the Mortgage Loans and each REO Property remaining in the Trust Fund as contemplated by clause (ii)
of Section 9.01(a) of the Pooling and Servicing Agreement by giving written notice to all the parties to the Pooling and Servicing
Agreement no later than 60 days prior to the anticipated date of exchange.


 


All
costs and expenses incurred by any and all parties to the Pooling and Servicing Agreement or by the Trust Fund in connection with
the purchase of the Mortgage Loans and the other assets of the Trust Fund pursuant to Section 9.01(c) of the Pooling and Servicing
Agreement shall be borne by the party exercising its purchase rights thereunder. The Trustee and the Certificate Administrator
shall be entitled to rely conclusively on any determination made by an Independent appraiser pursuant to Section 9.01(c) of the
Pooling and Servicing Agreement.


 


The
respective obligations and responsibilities of the Master Servicer, the Special Servicer, the Depositor, the Certificate Administrator,
the Operating Advisor, the Asset Representations Reviewer and the Trustee created by the Pooling and Servicing Agreement with
respect to the Certificates (other than the obligations of the Certificate Administrator to make certain payments and to send
certain notices to Certificateholders as set forth in the Pooling and


 






    	A-21-11



    	 



    

 


Servicing Agreement) shall terminate upon payment (or provision
for payment) to the Certificateholders and the Serviced Companion Loan Noteholders of all amounts held by or on behalf of the
Trustee, the Certificate Administrator and the Master Servicer, as the case may be, required under the Pooling and Servicing Agreement
to be so paid on the Distribution Date following the earlier to occur of (i) the purchase of the Mortgage Loans and all other
property held by the Trust Fund in accordance with Section 9.01(c) of the Pooling and Servicing Agreement; (ii) the exchange by
the Sole Certificateholder of its Certificates for the Mortgage Loans in accordance with Section 9.01(g) of the Pooling and Servicing
Agreement; and (iii) the later of (a) the receipt or collection of the last payment due on any Mortgage Loan included in the Trust
Fund, or (b) the liquidation and disposition pursuant to the Pooling and Servicing Agreement of the last asset held by the Trust
Fund; provided that in no event shall the trust created by the Pooling and Servicing Agreement continue beyond the expiration
of 21 years from the death of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States
to the United Kingdom, living on the date hereof.


 


Unless
the Certificate of Authentication on this Certificate has been executed by the Authenticating Agent, by manual signature, this
Certificate shall not be entitled to any benefit under the Pooling and Servicing Agreement or be valid for any purpose.


 






    	A-21-12



    	 



    

 


IN
WITNESS WHEREOF, the Certificate Administrator has caused this Class R Certificate to be duly executed.


 


Dated: April
__, 2016


	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION, not in its
    individual capacity but solely as Certificate Administrator
	 	 
	 	By:	 
	 	 	Authorized Signatory





 


Certificate
of Authentication


 


This
is one of the Class R Certificates referred to in the Pooling and Servicing Agreement.


 


Dated: April
__, 2016


	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION, not in its
    individual capacity but solely as Authenticating Agent
	 	 
	 	By:	 
	 	 	Authorized Signatory



 


    	A-21-13



    	 



    
 











 





 





EXHIBIT B


 


MORTGAGE LOAN SCHEDULE


 






    	 



    	 



    

 




 


DBJPM 2016-C1 - Mortgage Loan Schedule


 





	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Mortgage
    Loan	 	 	 	 	 	 	 	 	 	 	 	 	Mortage	 	Original
    Principal	 	Cut-off
    Date 	 	Maturity
    Date	 	Due
	ID	 	Loan
    Number	 	 Seller	 	Mortgage
    Loan Name	 	 	Street
    Address	 	City	 	State	 	Zip
    Code	 	Rate	 	Balance	 	Stated
    Principal Balance	 	or
    ARD	 	Date 
	GACC1	 	1.00	 	GACC	 	787 Seventh
    Avenue	 	 	787 Seventh
    Avenue	 	New York	 	NY	 	10019	 	3.83718%	 	$80,000,000	 	$80,000,000.00	 	2/6/2026	 	6
	GACC2	 	2.00	 	GACC	 	Williamsburg
    Premium Outlets	 	 	5715-62A Richmond Road	 	Williamsburg	 	VA	 	23188	 	4.2290%	 	$70,000,000	 	$70,000,000.00	 	2/6/2026	 	6
	JPMCB1	 	3.00	 	JPMCB	 	Naples
    Grande Beach Resort	 	 	475 Seagate
    Drive and 7220, 7540 & 7760 Golden Gate Parkway	 	Naples	 	FL	 	34103
    & 34105	 	4.9500%	 	$60,000,000	 	$60,000,000.00	 	1/1/2026	 	1
	GACC3	 	4.00	 	GACC	 	Sheraton
    North Houston	 	 	15700 John
    F. Kennedy Boulevard	 	Houston	 	TX	 	77032	 	4.8000%	 	$40,800,000	 	$40,754,576.54	 	3/6/2026	 	6
	GACC4	 	5.00	 	GACC	 	225 Liberty
    Street	 	 	225 Liberty
    Street	 	New York	 	NY	 	10281	 	4.6570%	 	$40,500,000	 	$40,500,000.00	 	2/6/2026	 	6
	GACC5	 	6.00	 	GACC	 	600 Broadway	 	 	600 Broadway	 	New York	 	NY	 	10012	 	4.6900%	 	$40,000,000	 	$40,000,000.00	 	1/6/2026	 	6
	JPMCB2	 	7.00	 	JPMCB	 	SLS South
    Beach	 	 	1701 Collins
    Avenue	 	Miami Beach	 	FL	 	33139	 	4.9400%	 	$35,000,000	 	$35,000,000.00	 	3/1/2021	 	1
	GACC6	 	8.00	 	GACC	 	West Valley Corporate Center	 	 	9200 Oakdale
    Avenue	 	Chatsworth	 	CA	 	91311	 	4.7800%	 	$35,000,000	 	$35,000,000.00	 	4/6/2026	 	6
	JPMCB3	 	9.00	 	JPMCB	 	7700 Parmer	 	 	7700 West
    Parmer Lane	 	Austin	 	TX	 	78729	 	4.5930%	 	$32,000,000	 	$32,000,000.00	 	12/1/2025	 	1
	GACC7	 	10.00	 	GACC	 	Northridge Summit	 	 	12220 Scripps
    Summit Drive	 	San Diego	 	CA	 	92131	 	4.8000%	 	$31,500,000	 	$31,500,000.00	 	3/6/2026	 	6
	GACC8	 	11.00	 	GACC	 	Columbus
    Park Crossing	 	 	5555 Whittlesey
    Boulevard	 	Columbus	 	GA	 	31909	 	4.7400%	 	$30,500,000	 	$30,500,000.00	 	12/1/2025	 	1
	GACC9	 	12.00	 	GACC	 	Hagerstown
    Premium Outlets	 	 	495
    Premium Outlets Boulevard	 	Hagerstown	 	MD	 	21740	 	4.2590%	 	$30,000,000	 	$30,000,000.00	 	2/6/2026	 	6
	GACC10	 	13.00	 	GACC	 	Hall Office
    Park A1/G1/G3	 	 	Various	 	Frisco	 	TX	 	75034	 	4.6950%	 	$28,000,000	 	$28,000,000.00	 	1/1/2026	 	1
	GACC10.01	 	13.01	 	GACC	 	Hall Office
    Park G3	 	 	2811 Internet
    Boulevard	 	Frisco	 	TX	 	75034	 	4.6950%	 	$9,967,800	 	$9,967,799.64	 	 	 	 
	GACC10.02	 	13.02	 	GACC	 	Hall Office
    Park G1	 	 	2401 Internet
    Boulevard	 	Frisco	 	TX	 	75034	 	4.6950%	 	$9,617,174	 	$9,617,173.52	 	 	 	 
	GACC10.03	 	13.03	 	GACC	 	Hall Office
    Park A1	 	 	2595 Dallas
    Parkway	 	Frisco	 	TX	 	75034	 	4.6950%	 	$8,415,027	 	$8,415,026.83	 	 	 	 
	GACC11	 	14.00	 	GACC	 	UA Sheepshead
    Bay Theater	 	 	3907 Shore
    Parkway	 	Brooklyn	 	NY	 	11235	 	5.2400%	 	$26,600,000	 	$26,600,000.00	 	4/6/2026	 	6
	JPMCB4	 	15.00	 	JPMCB	 	Renaissance
    Providence Downtown Hotel	 	 	5 Avenue
    of the Arts	 	Providence	 	RI	 	02903	 	5.0000%	 	$25,000,000	 	$24,973,433.48	 	3/1/2026	 	1
	GACC12	 	16.00	 	GACC	 	East Hills
    Industrial Portfolio	 	 	Various	 	Various	 	PA	 	Various	 	4.9300%	 	$23,500,000	 	$23,417,062.64	 	1/6/2026	 	6
	GACC12.01	 	16.01	 	GACC	 	210 Industrial
    Park Road	 	 	210 Industrial
    Park Road	 	Johnstown	 	PA	 	15904	 	4.9300%	 	$9,171,000	 	$9,138,633.25	 	 	 	 
	GACC12.02	 	16.02	 	GACC	 	401 Broad
    Street	 	 	401 Broad
    Street	 	Johnstown	 	PA	 	15906	 	4.9300%	 	$4,863,000	 	$4,845,837.26	 	 	 	 
	GACC12.03	 	16.03	 	GACC	 	423 Walters
    Avenue	 	 	423 Walters
    Avenue	 	Johnstown	 	PA	 	15904	 	4.9300%	 	$3,561,000	 	$3,548,432.34	 	 	 	 
	GACC12.04	 	16.04	 	GACC	 	303 Industrial
    Park Road	 	 	303 Industrial
    Park Road	 	Johnstown	 	PA	 	15904	 	4.9300%	 	$1,802,000	 	$1,795,640.29	 	 	 	 
	GACC12.05	 	16.05	 	GACC	 	136 Jaycee
    Drive	 	 	136 Jaycee
    Drive	 	Johnstown	 	PA	 	15904	 	4.9300%	 	$1,633,000	 	$1,627,236.74	 	 	 	 
	GACC12.06	 	16.06	 	GACC	 	395 Industrial
    Park Road	 	 	395 Industrial
    Park Road	 	Johnstown	 	PA	 	15904	 	4.9300%	 	$1,168,000	 	$1,163,877.84	 	 	 	 
	GACC12.07	 	16.07	 	GACC	 	934 Franklin
    Street	 	 	934 Franklin
    Street	 	Johnstown	 	PA	 	15905	 	4.9300%	 	$472,000	 	$470,334.19	 	 	 	 
	GACC12.08	 	16.08	 	GACC	 	124 Donald
    Lane	 	 	124 Donald
    Lane	 	Johnstown	 	PA	 	15904	 	4.9300%	 	$422,000	 	$420,510.66	 	 	 	 
	GACC12.09	 	16.09	 	GACC	 	388 Industrial
    Park Road	 	 	388 Industrial
    Park Road	 	Ebensburg	 	PA	 	15931	 	4.9300%	 	$408,000	 	$406,560.07	 	 	 	 
	GACC13	 	17.00	 	GACC	 	Riceland Pavilion	 	 	4561-4665
    Garth Road	 	Baytown	 	TX	 	77521	 	4.6700%	 	$22,000,000	 	$22,000,000.00	 	4/6/2026	 	6
	GACC14	 	18.00	 	GACC	 	Los Arcos
    Apartments	 	 	11315 Fondren
    Road	 	Houston	 	TX	 	77035	 	4.7600%	 	$20,850,000	 	$20,773,899.44	 	1/6/2026	 	6
	GACC15	 	19.00	 	GACC	 	Burlington Crossing	 	 	1915 Marketplace
    Drive	 	Burlington	 	WA	 	98233	 	4.5300%	 	$19,950,000	 	$19,950,000.00	 	4/6/2026	 	6
	GACC16	 	20.00	 	GACC	 	Jade Corporate
    Center	 	 	15515,
    15501, 15455 & 15451 San Fernando Mission Boulevard	 	Los Angeles	 	CA	 	91345	 	4.5000%	 	$18,600,000	 	$18,600,000.00	 	12/6/2025	 	6
	GACC17	 	21.00	 	GACC	 	Zanker
    Road	 	 	3061 &
    3081 Zanker Road	 	San Jose	 	CA	 	95134	 	4.4300%	 	$18,500,000	 	$18,500,000.00	 	1/6/2026	 	6
	GACC18	 	22.00	 	GACC	 	Legends
    at Mount Pleasant	 	 	1100 Legends
    Club Drive	 	Mount Pleasant	 	SC	 	29466	 	4.8300%	 	$17,737,500	 	$17,737,500.00	 	1/6/2026	 	6
	GACC19	 	23.00	 	GACC	 	Danville
    Manor Shopping Center	 	 	1560 Hustonville
    Road	 	Danville	 	KY	 	40422	 	4.7300%	 	$11,250,000	 	$11,208,695.62	 	1/6/2026	 	6
	GACC20	 	24.00	 	GACC	 	Sugarcreek Plaza II	 	 	6244 Wilmington
    Pike	 	Sugarcreek
    Township	 	OH	 	45459	 	4.7500%	 	$9,250,000	 	$9,239,582.69	 	3/1/2026	 	1
	GACC21	 	25.00	 	GACC	 	Comfort
    Inn Chula Vista	 	 	91
    East Bonita Road	 	Chula
    Vista	 	CA	 	91910	 	4.6700%	 	$8,000,000	 	$7,979,527.65	 	2/6/2026	 	6
	GACC22	 	26.00	 	GACC	 	Shopko
    Madison	 	 	7401 Mineral
    Point Road	 	Madison	 	WI	 	53717	 	4.8450%	 	$7,900,000	 	$7,900,000.00	 	1/6/2026	 	6
	GACC23	 	27.00	 	GACC	 	Mableton
    Village Apartments	 	 	1306
    Old Powder Springs Road Southwest	 	Mableton	 	GA	 	30126	 	4.8400%	 	$6,600,000	 	$6,576,287.73	 	1/6/2026	 	6
	GACC24	 	28.00	 	GACC	 	Long Northville
    Portfolio	 	 	Various	 	Northville	 	MI	 	48167	 	4.7400%	 	$6,300,000	 	$6,276,914.96	 	1/6/2026	 	6
	GACC24.01	 	28.01	 	GACC	 	120 West
    Main Street	 	 	120 West
    Main Street	 	Northville	 	MI	 	48167	 	4.7400%	 	$2,587,500	 	$2,578,018.64	 	 	 	 
	GACC24.02	 	28.02	 	GACC	 	180 East
    Main Street	 	 	180 East
    Main Street	 	Northville	 	MI	 	48167	 	4.7400%	 	$2,062,500	 	$2,054,942.40	 	 	 	 
	GACC24.03	 	28.03	 	GACC	 	190 East
    Main Street	 	 	190 East
    Main Street	 	Northville	 	MI	 	48167	 	4.7400%	 	$1,650,000	 	$1,643,953.92	 	 	 	 
	GACC25	 	29.00	 	GACC	 	Citrus
    Falls Commons	 	 	11901 Sheldon
    Road	 	Tampa	 	FL	 	33626	 	4.7700%	 	$5,900,000	 	$5,878,507.90	 	1/6/2026	 	6
	GACC26	 	30.00	 	GACC	 	Independence
    Town Center 	 	 	6465 Sashabaw
    Road	 	Clarkston	 	MI	 	48346	 	4.8000%	 	$5,100,000	 	$5,074,106.89	 	1/6/2026	 	6
	GACC27	 	31.00	 	GACC	 	Holiday
    Inn Express Venice FL	 	 	380 Commercial
    Court	 	Venice	 	FL	 	34292	 	5.0400%	 	$4,850,000	 	$4,838,402.87	 	2/6/2026	 	6
	GACC28	 	32.00	 	GACC	 	Scott Oaks
    Plaza	 	 	5525 Cameron
    Street	 	Scott	 	LA	 	70583	 	4.9700%	 	$4,102,500	 	$4,102,500.00	 	2/6/2026	 	6
	GACC29	 	33.00	 	GACC	 	Walgreens
    - Apple Valley	 	 	14020 Pilot
    Knob Road	 	Apple Valley	 	MN	 	55124	 	4.7700%	 	$3,170,000	 	$3,153,829.76	 	1/6/2026	 	6




 






    	 



    	 



    

 


DBJPM 2016-C1 - Mortgage Loan Schedule




 


	 	 	 	 	 	 	 	 	 	 	 	Servicing
    Fee Rate	 	Interest	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Mortgage
    Loan	 	 	 	 	Current
    Monthly	 	Master
    Servicing	 	Primary
    Servicing	 	Accrual 	 	Letter
    of 	 	 	 	Part
    of	 	Leasehold	 	Current
    Mezzanine	 	 
	ID	 	Loan
    Number	 	 Seller	 	Mortgage
    Loan Name	 	 	Debt
    Service	 	Fee
    Rate	 	Fee
    Rate	 	Method	 	Credit	 	Post-ARD
    Revised Rate	 	Loan
    Combination	 	Interest	 	or
    Subordinate Debt	 	Earnout/Holdback
	GACC1	 	1.00	 	GACC	 	787 Seventh
    Avenue	 	 	                255,812.00	 	0.0025%	 	0.00125%	 	Actual/360	 	None	 	 	 	Yes	 	 	 	Yes	 	No
	GACC2	 	2.00	 	GACC	 	Williamsburg
    Premium Outlets	 	 	                246,691.67	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	 	 	Yes	 	 	 	 	 	No
	JPMCB1	 	3.00	 	JPMCB	 	Naples
    Grande Beach Resort	 	 	                247,500.00	 	0.0025%	 	0.0125%	 	Actual/360	 	None	 	 	 	Yes	 	 	 	 	 	No
	GACC3	 	4.00	 	GACC	 	Sheraton
    North Houston	 	 	                214,063.46	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	 	 	 	 	 	 	 	 	No
	GACC4	 	5.00	 	GACC	 	225
    Liberty Street	 	 	                157,173.75	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	 	 	Yes	 	Leasehold	 	Yes	 	No
	GACC5	 	6.00	 	GACC	 	600 Broadway	 	 	                156,333.33	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	 	 	Yes	 	 	 	 	 	No
	JPMCB2	 	7.00	 	JPMCB	 	SLS South
    Beach	 	 	                144,083.33	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	 	 	Yes	 	 	 	 	 	No
	GACC6	 	8.00	 	GACC	 	West Valley Corporate Center	 	 	                139,416.67	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	 	 	 	 	 	 	 	 	No
	JPMCB3	 	9.00	 	JPMCB	 	7700 Parmer	 	 	                122,480.00	 	0.0025%	 	0.0075%	 	Actual/360	 	None	 	 	 	Yes	 	 	 	 	 	No
	GACC7	 	10.00	 	GACC	 	Northridge Summit	 	 	                126,000.00	 	0.0025%	 	0.0400%	 	Actual/360	 	None	 	 	 	 	 	 	 	 	 	No
	GACC8	 	11.00	 	GACC	 	Columbus
    Park Crossing	 	 	                120,475.00	 	0.0025%	 	0.0125%	 	Actual/360	 	None	 	 	 	Yes	 	Fee Simple/Leasehold	 	 	 	No
	GACC9	 	12.00	 	GACC	 	Hagerstown
    Premium Outlets	 	 	                106,475.00	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	 	 	Yes	 	 	 	 	 	No
	GACC10	 	13.00	 	GACC	 	Hall
    Office Park A1/G1/G3	 	 	                109,550.00	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	 	 	Yes	 	 	 	 	 	Yes
    - $2,500,000 to be released to the borrower provided, among other things, (i) no EOD, (ii) DY is equal to or greater than
    8.0%, (iii) completion of the expansion premises and (iv) the HCL Tenant’s Lease Sweep Lease has commenced and the HCL tenant
    is in occupancy paying full rent.
	GACC10.01	 	13.01	 	GACC	 	Hall Office
    Park G3	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	GACC10.02	 	13.02	 	GACC	 	Hall Office
    Park G1	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	GACC10.03	 	13.03	 	GACC	 	Hall Office
    Park A1	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	GACC11	 	14.00	 	GACC	 	UA Sheepshead
    Bay Theater	 	 	                146,721.47	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	 	 	 	 	 	 	 	 	No
	JPMCB4	 	15.00	 	JPMCB	 	Renaissance
    Providence Downtown Hotel	 	 	                134,205.41	 	0.0025%	 	0.0125%	 	Actual/360	 	None	 	 	 	Yes	 	 	 	 	 	No
	GACC12	 	16.00	 	GACC	 	East Hills
    Industrial Portfolio	 	 	                125,149.65	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	 	 	 	 	 	 	 	 	No
	GACC12.01	 	16.01	 	GACC	 	210 Industrial
    Park Road	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	GACC12.02	 	16.02	 	GACC	 	401 Broad
    Street	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	GACC12.03	 	16.03	 	GACC	 	423 Walters
    Avenue	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	GACC12.04	 	16.04	 	GACC	 	303 Industrial
    Park Road	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	GACC12.05	 	16.05	 	GACC	 	136 Jaycee
    Drive	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	GACC12.06	 	16.06	 	GACC	 	395 Industrial
    Park Road	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	GACC12.07	 	16.07	 	GACC	 	934 Franklin
    Street	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	GACC12.08	 	16.08	 	GACC	 	124 Donald
    Lane	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	GACC12.09	 	16.09	 	GACC	 	388 Industrial
    Park Road	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	GACC13	 	17.00	 	GACC	 	Riceland Pavilion	 	 	                 85,616.67	 	0.0025%	 	0.0500%	 	Actual/360	 	None	 	 	 	 	 	 	 	 	 	No
	GACC14	 	18.00	 	GACC	 	Los Arcos
    Apartments	 	 	                108,889.18	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	 	 	 	 	 	 	 	 	No
	GACC15	 	19.00	 	GACC	 	Burlington Crossing	 	 	                101,439.65	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	 	 	 	 	 	 	 	 	No
	GACC16	 	20.00	 	GACC	 	Jade Corporate
    Center	 	 	                 69,750.00	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	 	 	 	 	 	 	 	 	No
	GACC17	 	21.00	 	GACC	 	Zanker
    Road	 	 	                 68,295.83	 	0.0025%	 	0.0800%	 	Actual/360	 	None	 	 	 	 	 	 	 	 	 	No
	GACC18	 	22.00	 	GACC	 	Legends
    at Mount Pleasant	 	 	                 71,393.44	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	 	 	 	 	 	 	 	 	No
	GACC19	 	23.00	 	GACC	 	Danville
    Manor Shopping Center	 	 	                 58,549.78	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	 	 	 	 	 	 	 	 	No
	GACC20	 	24.00	 	GACC	 	Sugarcreek Plaza II	 	 	                 48,252.38	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	 	 	 	 	 	 	 	 	No
	GACC21	 	25.00	 	GACC	 	Comfort
    Inn Chula Vista	 	 	                 41,346.89	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	 	 	 	 	 	 	 	 	No
	GACC22	 	26.00	 	GACC	 	Shopko
    Madison	 	 	                 31,896.25	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	 	 	 	 	 	 	 	 	No
	GACC23	 	27.00	 	GACC	 	Mableton
    Village Apartments	 	 	                 34,787.67	 	0.0025%	 	0.0500%	 	Actual/360	 	None	 	 	 	 	 	 	 	 	 	No
	GACC24	 	28.00	 	GACC	 	Long Northville
    Portfolio	 	 	                 32,825.82	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	 	 	 	 	 	 	 	 	No
	GACC24.01	 	28.01	 	GACC	 	120 West
    Main Street	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	GACC24.02	 	28.02	 	GACC	 	180 East
    Main Street	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	GACC24.03	 	28.03	 	GACC	 	190 East
    Main Street	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	GACC25	 	29.00	 	GACC	 	Citrus
    Falls Commons	 	 	                 30,848.36	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	 	 	 	 	 	 	 	 	No
	GACC26	 	30.00	 	GACC	 	Independence
    Town Center 	 	 	                 29,222.85	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	 	 	 	 	 	 	 	 	No
	GACC27	 	31.00	 	GACC	 	Holiday
    Inn Express Venice FL	 	 	                 26,154.54	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	 	 	 	 	 	 	 	 	No
	GACC28	 	32.00	 	GACC	 	Scott Oaks
    Plaza	 	 	                 16,991.19	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	 	 	 	 	 	 	 	 	No
	GACC29	 	33.00	 	GACC	 	Walgreens
    - Apple Valley	 	 	                 18,109.21	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	 	 	 	 	 	 	 	 	No




 






    	 



    	 



    



 


EXHIBIT C-1


 


FORM OF TRANSFEREE AFFIDAVIT


 


AFFIDAVIT PURSUANT TO

SECTION 860E(e)(4) OF THE

INTERNAL REVENUE CODE OF

1986, AS AMENDED





	STATE OF NEW YORK	)	 
	 	)	ss:
	COUNTY OF NEW YORK	)	 



  


                                     ,
being first duly sworn, deposes and says:


 


1.          That he/she is
a                                      
of                                      
(the “Purchaser”), a                                      
duly organized and existing under the laws of the State of                                      
on behalf of which he/she makes this affidavit.


 


2.          That the Purchaser’s
Taxpayer Identification Number is                             .


 


3.          That the Purchaser
of the DBJPM 2016-C1 Mortgage Trust Commercial Mortgage Pass-Through Certificates, Class R (the “Class R Certificate”)
is a Permitted Transferee (as defined in Article I of the Pooling and Servicing Agreement, dated as of April 1, 2016 (the “Pooling
and Servicing Agreement”), entered into among Deutsche Mortgage & Asset Receiving Corporation, as depositor, Wells
Fargo Bank, National Association, as master servicer, Midland Loan Services, a Division of PNC Bank, National Association, as special
servicer, Park Bridge Lender Services LLC, as operating advisor, Park Bridge Lender
Services LLC, as asset representations reviewer, Wilmington Trust, National Association,
as trustee, and Wells Fargo Bank, National Association, as certificate administrator, paying agent and custodian, or is acquiring
the Class R Certificate for the account of, or as agent (including as a broker, nominee, or other middleman) for, a Permitted Transferee
and has received from such person or entity an affidavit substantially in the form of this affidavit.


 


4.          That the Purchaser
historically has paid its debts as they have come due and intends to pay its debts as they come due in the future and the Purchaser
intends to pay taxes associated with holding the Class R Certificate as they become due.


 


5.          That the Purchaser
understands that it may incur tax liabilities with respect to the Class R Certificate in excess of any cash flow generated by the
Class R Certificate.


 


6.          That the Purchaser
will not transfer the Class R Certificate to any person or entity from which the Purchaser has not received an affidavit substantially
in the form of this affidavit or as to which the Purchaser has actual knowledge that the requirements set forth in paragraph 3,
paragraph 4 or paragraph 7 hereof are not satisfied or that the Purchaser has reason to know does not satisfy the requirements
set forth in paragraph 4 hereof.


 






    	C-1-1



    	 



    

 


7.           That the Purchaser
is not a Disqualified Non-U.S. Tax Person and is not purchasing the Class R Certificate for the account of, or as an agent (including
as a broker, nominee or other middleman) for, a Disqualified Non-U.S. Tax Person and is otherwise a Permitted Transferee.


 


8.           That the Purchaser
agrees to such amendments of the Pooling and Servicing Agreement as may be required to further effectuate the restrictions on transfer
of the Class R Certificate to a “disqualified organization,” an agent thereof, or a person that does not satisfy the
requirements of paragraph 4, paragraph 7 and paragraph 11 hereof.


 


9.           That, if a “tax
matters person” or “partnership representative” is required to be designated with respect to the Trust REMICs,
the Purchaser agrees to act as “tax matters person” and to perform the functions of “tax matters partner”
or “partnership representative” of the Trust REMICs pursuant to Section 4.04 of the Pooling and Servicing Agreement,
and agrees to the irrevocable designation of the Certificate Administrator as the Purchaser’s agent in performing the function
of “tax matters person” and “tax matters partner” or “partnership representative”.


 


10.         The Purchaser
agrees to be bound by and to abide by the provisions of Section 5.02 of the Pooling and Servicing Agreement concerning registration
of the transfer and exchange of the Class R Certificate.


 


11.         The Purchaser
will not cause income from the Class R Certificate to be attributable to a foreign permanent establishment or fixed base, within
the meaning of an applicable income tax treaty, of the Purchaser or any other U.S. Tax Person.


 


12.         Check the applicable
paragraph:


 


☐         The
present value of the anticipated tax liabilities associated with holding the Class R Certificate, as applicable, does not exceed
the sum of:


 


(i)          the
present value of any consideration given to the Purchaser to acquire such Class R Certificate;


 


(ii)         the
present value of the expected future distributions on such Certificate; and


 


(iii)        the
present value of the anticipated tax savings associated with holding such Class R Certificate as the related REMIC generates losses.


 


For purposes of this calculation,
(i) the Purchaser is assumed to pay tax at the highest rate currently specified in Code Section 11(b) (but the tax rate in Code
Section 55(b)(1)(B) may be used in lieu of the highest rate specified in Code Section 11(b) if the Purchaser has been subject to
the alternative minimum tax under Code Section 55 in the preceding two years and will compute its taxable income in the current
taxable year using the alternative minimum tax rate) and (ii) present values are computed using a discount rate equal to the short
term Federal rate prescribed by Code Section 1274(d) for the month of the transfer and the compounding period used by the Purchaser.


 






    	C-1-2



    	 



    

 


☐          The
transfer of the Class R Certificate complies with U.S. Treasury Regulations Section 1.860E-1(c)(5) and (6) and, accordingly,


 


(i)          the
Purchaser is an “eligible corporation,” as defined in U.S. Treasury Regulations Section 1.860E-1(c)(6)(i), as to which
income from the Class R Certificate will only be taxed in the United States;


 


(ii)         at
the time of the transfer, and at the close of the Purchaser’s two fiscal years preceding the year of the transfer, the Purchaser
had gross assets for financial reporting purposes (excluding any obligation of a person related to the Purchaser within the meaning
of U.S. Treasury Regulations Section 1.860E-1(c)(6)(ii)) in excess of $100 million and net assets in excess of $10 million;


 


(iii)        the
Purchaser will transfer the Class R Certificate only to another “eligible corporation,” as defined in U.S. Treasury
Regulations Section 1.860E-1(c)(6)(i), in a transaction that satisfies the requirements of Section 1.860E-1(c)(4)(i), (ii) and
(iii) and Section 1.860E-1(c)(5) of the U.S. Treasury Regulations; and


 


(iv)        the
Purchaser determined the consideration paid to it to acquire the Class R Certificate based on reasonable market assumptions (including,
but not limited to, borrowing and investment rates, prepayment and loss assumptions, expense and reinvestment assumptions, tax
rates and other factors specific to the Purchaser) that it has determined in good faith.


 


☐         None
of the above.


 


Capitalized terms used
but not defined herein have the respective meanings ascribed to such terms in the Pooling and Servicing Agreement.


 


IN WITNESS WHEREOF,
the Purchaser has caused this instrument to be executed on its behalf by its                                            
this          day of                        ,
20     .


 


	 	[The Purchaser]
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:






 






    	C-1-3



    	 



    

 


Personally appeared before
me the above named                                 ,
known or proved to me to be the same person who executed the foregoing instrument and to be the of the Purchaser, and acknowledged
to me that he/she executed the same as his/her free act and deed and the free act and deed of the Purchaser.


 


Subscribed and sworn
before me this          day of                        ,
20     .





	 	 	 	 
	 	 	 	 
	NOTARY PUBLIC	 
	 	 	 	 
	COUNTY OF	 	 
	 	 	 
	STATE OF	 	 	 







 


My commission expires the         
day of                        ,
20     .


 






    	C-1-4



    	 



    

 


EXHIBIT C-2


 


FORM OF TRANSFEROR LETTER


 


[Date]






Wells Fargo Bank, National Association


Sixth Street & Marquette
Avenue


Minneapolis, Minnesota
55479-0113


Attention: DBJPM 2016-C1
Mortgage Trust


 


		Re:	Pooling and Servicing
                                         Agreement (“Pooling and Servicing Agreement”) relating to DBJPM 2016-C1
                                         Mortgage Trust Commercial Mortgage Pass-Through Certificates, Class R	



 


Ladies and Gentlemen:


 


[Transferor] has reviewed
the attached affidavit of [Transferee], and has no actual knowledge that such affidavit is not true or that [Transferee] is not
a Permitted Transferee (as defined in the Pooling and Servicing Agreement defined in the attached affidavit) and has no actual
knowledge or reason to know that the information contained in the attached affidavit is not true. No purpose of [Transferor] relating
to the transfer of the Class R Certificate by [Transferor] to [Transferee] is or will be to impede the assessment of any tax.


 





	 	Very truly
yours,
	 	 
	 	[Transferor]
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:


 






    	C-2-1



    	 



    

 


EXHIBIT D-1


 


FORM OF INVESTMENT REPRESENTATION LETTER


 


Wells Fargo Bank, National Association


Sixth Street & Marquette
Avenue


Minneapolis, Minnesota
55479-0113


Attention: DBJPM 2016-C1
Mortgage Trust


 


Deutsche Mortgage & Asset Receiving Corporation

60 Wall Street

New York, New York 10005

Attention: Helaine M. Kaplan


 


		Re:	Transfer of DBJPM
                                         2016-C1 Mortgage Trust Commercial Mortgage Pass-Through Certificates: Class [     ]



 


Ladies and Gentlemen:


 


This
letter is delivered pursuant to Section 5.02 of the Pooling and Servicing Agreement dated as of April 1, 2016 (the “Pooling
and Servicing Agreement”), entered into among Deutsche Mortgage & Asset Receiving Corporation, as depositor,
Wells Fargo Bank, National Association, as master servicer, Midland Loan
Services, a Division of PNC Bank, National Association, as special servicer, Park Bridge Lender Services LLC, as operating advisor,
Park Bridge Lender Services LLC, as asset representations reviewer, Wilmington Trust, National Association, as trustee, and Wells
Fargo Bank, National Association, as certificate administrator, paying agent and custodian, on behalf of the holders of DBJPM 2016-C1
Mortgage Trust Commercial Mortgage Pass-Through Certificates (the “Certificates”) with respect to the transfer
by [__________] (the “Seller”) to the undersigned (the “Purchaser”) of [$_____ aggregate
Certificate Balance][_____% Percentage Interest] of Class [_____] Certificates, in certificated fully registered form (such registered
interest, the “Certificate”). Terms used but not defined herein shall have the meanings ascribed thereto in
the Pooling and Servicing Agreement.


 


In connection with
such transfer, the undersigned hereby represents and warrants to you as follows:


 


			[For Institutional Accredited Investors only] 1. The Purchaser is an institutional “accredited
investor” within the meaning of Rule 501 (a)(1), (2), (3) or (7) of Regulation D promulgated under the Securities Act of
1933, as amended (the “Securities Act”), or an entity in which all of the equity owners are such accredited
investors (an “Institutional Accredited Investor”), and has such knowledge and experience in financial and business
matters as to be capable of evaluating the merits and risks of the investment in the Certificate, and the Purchaser and any accounts
for which the Purchaser is acting are each able to bear the economic risk of the investment. The Purchaser is acquiring the Certificate
for its own account or for one or more accounts (each of which is an Institutional Accredited Investor) as to each of which the
Purchaser exercises sole investment discretion. The Purchaser hereby undertakes to reimburse the Trust for any costs incurred by
it in connection with this transfer.



 






    	D-1-1



    	 



    

 


			[For Qualified Institutional Buyers only] 1. The Purchaser is a “qualified institutional
buyer” within the meaning of Rule 144A (“Rule 144A”) promulgated under the Securities Act of 1933, as
amended (the “Securities Act”). The Purchaser is aware that the transfer is being made in reliance on Rule 144A,
and the Purchaser has had the opportunity to obtain the information required to be provided pursuant to paragraph (d)(4)(i) of
Rule 144A.



 


		2.	The Purchaser’s intention is to acquire the Certificate (a) for investment for the Purchaser’s
own account or (b) for reoffer, resale, pledge or other transfer to (i) “qualified institutional buyers” within the
meaning of, and in transactions complying with, Rule 144A promulgated under the Securities Act, (ii) entities qualifying as “accredited
investors” within the meaning of Rule 501(a)(1), (2), (3) or (7) of Regulation D promulgated under the Securities Act, or
any entity in which all of the equity owners are such accredited investors, or (iii) pursuant to any other exemption from the registration
requirements of the Securities Act, subject in the case of this clause (iii) to (a) the receipt by the Certificate Registrar of
a letter substantially in the form hereof, (b) the receipt by the Certificate Registrar of an opinion of counsel acceptable to
the Certificate Registrar that such reoffer, resale, pledge or transfer is in compliance with the Securities Act, (c) the receipt
by the Certificate Registrar of such other evidence acceptable to the Certificate Registrar that such reoffer, resale, pledge or
transfer is in compliance with the Securities Act and other applicable laws (including applicable state and foreign securities
laws), and (d) a written undertaking to reimburse the Trust for any costs incurred by it in connection with the proposed transfer.
It understands that the Certificate (and any subsequent Individual Certificate) has not been registered under the Securities Act,
by reason of a specified exemption from the registration provisions of the Securities Act which depends upon, among other things,
the bona fide nature of the Purchaser’s investment intent (or intent to resell to only certain investors in certain exempted
transactions) as expressed herein.



 


		3.	The Purchaser acknowledges that the Certificate (and any Certificate issued on transfer or exchange
thereof) has not been registered or qualified under the Securities Act or the securities laws of any State or any other jurisdiction,
and that the Certificate cannot be reoffered, resold, pledged or otherwise transferred unless it is registered or qualified thereunder
or unless an exemption from such registration or qualification is available.



 


		4.	The Purchaser has reviewed the applicable Private Placement Memorandum dated April 5, 2016, relating
to the Certificates (the “Private Placement Memorandum”) and the agreements and other materials referred to
therein and has had the opportunity to ask questions and receive answers concerning the terms and conditions of the transactions
contemplated by the Private Placement Memorandum.



 


		5.	The Purchaser hereby undertakes to be bound by the terms and conditions of the Pooling and Servicing
Agreement in its capacity as an owner of an Individual Certificate or Certificates, as the case may be (each, a “Certificateholder”),
in all respects as if it were a signatory thereto. This undertaking is made for the benefit of the Trust, the Trustee, the Certificate
Administrator, the Certificate Registrar and all Certificateholders present and future.



 


		6.	The Purchaser will not sell or otherwise transfer any portion of the Certificate, except in compliance
with Section 5.02 of the Pooling and Servicing Agreement.



 






    	D-1-2



    	 



    

 


		7.	Check one of the following:



 


		☐	The
Purchaser is a “U.S. Tax Person” (as defined below) and it has attached hereto an Internal Revenue Service (“IRS”)
Form W-9 (or successor form).



 


		☐	The
Purchaser is not a “U.S. Tax Person” (as defined below) and under applicable law in effect on the date hereof, no
taxes will be required to be withheld by the Certificate Registrar (or its agent) with respect to distributions to be made on
the Certificate(s). The Purchaser has attached hereto [(i) a duly executed IRS Form W-8BEN or IRS Form W-8BEN-E (or successor
form), which identifies such Purchaser as the beneficial owner of the Certificate(s) and states that such Purchaser is not a U.S.
Tax Person, (ii) two duly executed copies of IRS Form W-8IMY (and all appropriate attachments) or (iii)]* two duly executed
copies of IRS Form W-8ECI (or successor form), which identify such Purchaser as the beneficial owner of the Certificate(s) and
state that interest and original issue discount on the Certificate(s) is, or is expected to be, effectively connected with a U.S.
trade or business. The Purchaser agrees to provide to the Certificate Registrar updated [IRS Forms W-8BEN, IRS Forms W-8BEN-E,
IRS Forms W-8IMY or]* IRS Forms W-8ECI[, as the case may be]*, any applicable successor IRS forms, or such other certifications
as the Certificate Registrar may reasonably request, on or before the date that any such IRS form or certification expires or
becomes obsolete, or promptly after the occurrence of any event requiring a change in the most recent IRS form of certification
furnished by it to the Certificate Registrar.



 


For purposes of this
paragraph 7, “U.S. Tax Person” means a citizen or resident of the United States, a corporation, partnership
(except to the extent provided in applicable Treasury Regulations), or other entity created or organized in or under the laws of
the United States, any state thereof or the District of Columbia, including any entity treated as a corporation or partnership
for federal income tax purposes, an estate whose income is subject to United States federal income tax regardless of its source,
or a trust if a court within the United States is able to exercise primary supervision over the administration of such trust, and
one or more such U.S. Persons have the authority to control all substantial decisions of such trust (or, to the extent provided
in applicable Treasury Regulations, certain trusts in existence on August 20, 1996 that have elected to be treated as U.S. Tax
Persons).


 


Please
make all payments due on the Certificates: **


 


(a) by
wire transfer to the following account at a bank or entity in New York, New York, having appropriate facilities therefor:


 





	Account number:	 
	 	 
	Institution:	 







 


(b) by
mailing a check or draft to the following address:


 





 



 


		*	Delete
                                         for Class R.



 


		**	Only
                                         to be filled out by Purchasers of Individual Certificates. Please select (a) or (b).




 






    	D-1-3



    	 



    

 





	 
	 
	 
	 
	 


 





	 	Very truly yours,
	 	 
	 	[Purchaser]
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:


 


Dated: ________________, 20___


 






    	D-1-4



    	 



    

 


EXHIBIT D-2


 


FORM OF ERISA REPRESENTATION LETTER


 


[Date]


 


Wells Fargo Bank, National Association 


Sixth Street & Marquette
Avenue 


Minneapolis, Minnesota
55479-0113 


Attention: DBJPM 2016-C1
Mortgage Trust




Deutsche Mortgage & Asset Receiving Corporation

60 Wall Street

New York, New York 10005

Attention: Helaine M. Kaplan


 


		Re:	DBJPM 2016-C1 Mortgage
                                         Trust Commercial Mortgage Pass-Through Certificates, Class [    ]



 


Ladies and Gentlemen:

 


_______________ (the
“Purchaser”) intends to purchase from _______________ (the “Seller”) [$_____ initial Certificate
Balance][ or _____% Percentage Interest] of DBJPM 2016-C1 Mortgage Trust Commercial Mortgage Pass-Through Certificates, Class [_____],
CUSIP No. _____ (the “Certificates”), issued pursuant to the Pooling and Servicing Agreement dated as of April
1, 2016 (the “Pooling and Servicing Agreement”), among Deutsche Mortgage & Asset Receiving Corporation,
as depositor, Wells Fargo Bank, National Association, as master servicer, Midland Loan Services, a Division of PNC Bank, National
Association, as special servicer, Park Bridge Lender Services LLC, as operating advisor, Park Bridge Lender Services LLC, as asset
representations reviewer, Wilmington Trust, National Association, as trustee, and Wells Fargo Bank, National Association, as certificate
administrator, paying agent and custodian. All capitalized terms used herein and not otherwise defined shall have the meaning set
forth in the Pooling and Servicing Agreement. The Purchaser hereby certifies, represents and warrants to, and covenants with, the
Depositor, the Certificate Administrator, the Certificate Registrar and the Trustee that:


 


The Purchaser is not
and will not become (a) an employee benefit plan or other retirement arrangement, including an individual retirement account or
a Keogh plan, which is subject to the Employee Retirement Income Security Act of 1974, as amended (“ERISA”),
Code Section 4975, a governmental plan, as defined in Section 3(32) of ERISA, or other plan subject to any federal, state or local
law (“Similar Law”) which is to a material extent similar to the foregoing provisions of ERISA or the Code (each,
a “Plan”), or (b) a collective investment fund whose underlying assets include Plan assets by reason of a Plan’s
investment in the collective investment fund (pursuant to U.S. Department of Labor Regulation Section 2510.3-101, as modified by
Section 3(42) of ERISA, or Similar Law), an insurance company using assets of separate accounts or general accounts which are deemed
pursuant to ERISA or any Similar Law to include assets of Plans, or other person acting on behalf of any such Plan or using the
assets of


 






    	D-2-1



    	 



    

 


any
such Plan, other than (except in the case of the Class R Certificates) an insurance company using the assets of its general account
under circumstances whereby such purchase and the subsequent holding of such Certificate by such insurance company would be exempt
from the prohibited transaction provisions of Section 406 and 407 of ERISA and Code Section 4975 under Sections I and III of PTCE
95-60, or a substantially similar exemption under Similar Law; and


 


The Purchaser understands
that if the Purchaser is a person referred to in clause (a) or (b) above, except in the case of the Class R Certificates, which
may not be transferred unless the transferee represents it is not such a person, such Purchaser is required to provide to the Certificate
Registrar any Opinions of Counsel, officers’ certificates or agreements as may be required by such persons, and which establishes
to the satisfaction of the Depositor, the Certificate Administrator and the Certificate Registrar that the purchase and holding
of the Certificates by or on behalf of a Plan will not constitute or result in a non-exempt prohibited transaction within the meaning
of Section 406 and Section 407 of ERISA or Code Section 4975 or any corresponding provision of any Similar Law, and will not subject
the Depositor, the Certificate Administrator, the Trustee, the Master Servicer, the Special Servicer, the Operating Advisor, the
Asset Representations Reviewer or the Certificate Registrar to any obligation or liability (including obligations or liabilities
under ERISA, Code Section 4975 or Similar Law), which Opinions of Counsel, officers’ certificates or agreements shall not
be at the expense of the Master Servicer, the Special Servicer, the Operating Advisor, the Asset Representations Reviewer, the
Depositor, the Certificate Administrator, the Trustee or the Certificate Registrar.


 


IN WITNESS WHEREOF,
the Purchaser hereby executes this ERISA Representation Letter on this ____ day of ____, 20 __.


 





	 	Very truly yours,
	 	 
	 	[Purchaser]
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:


 






    	D-2-2



    	 



    

 


EXHIBIT E


 


FORM OF REQUEST FOR RELEASE


  


[Date]







Wells Fargo Bank, National Association 


1055 10th Avenue SE

Minneapolis, Minnesota 55414 


Attention: DBJPM 2016-C1
Mortgage Trust


 


		Re:	Pooling and Servicing
                                         Agreement (“Pooling and Servicing Agreement”) relating to DBJPM 2016-C1
                                         Mortgage Trust Commercial Mortgage Pass-Through Certificates



 


Dear __________________:


 


In connection with the
administration of the Mortgage Files held by, or on behalf of, you as Custodian under the Pooling and Servicing Agreement, the
undersigned hereby requests a release of the Mortgage File (or the portion thereof specified below) held by you as Custodian with
respect to the following described Mortgage Loan for the reason indicated below:





	 	 	 	 	 
	Mortgagor’s Name:  	 	 
	 	 	 	 	 
	Address:	 	 	 	 
	 	 	 	 	 
	Asset No.:	 	 	 







 


If only particular documents
in the Mortgage File are requested, please specify which:


 


Reason for requesting
file (or portion thereof):


 


		_____	1.	Mortgage Loan paid in full. Such [Master Servicer] [Special
Servicer][Other Servicer][Other Special Servicer] hereby certifies that all amounts received in connection with the Mortgage Loan
have been or will be, following such [Master Servicer’s] [Special Servicer’s] [Other
Servicer’s][Other Special Servicer’s] release of the Mortgage File, credited to the Collection Account pursuant to
the Pooling and Servicing Agreement.



 





		_____	2.	The
Mortgage Loan is being foreclosed.


 


		_____	3.	Other.
(Describe)








 


The undersigned acknowledges
that the above Mortgage File (or requested portion thereof) will be held by the undersigned in accordance with the provisions of
the


 






    	E-1



    	 



    

 


[Pooling
and Servicing Agreement][Other Pooling and Servicing Agreement] and will be returned to you or your designee within ten (10) days
of our receipt thereof, unless [the [Other Servicer][Other Special Servicer] requires such Mortgage File pursuant to the applicable
Intercreditor Agreement or Other Pooling and Servicing Agreement.][the Mortgage Loan has been paid in full or otherwise liquidated,
in which case the Mortgage File (or such portion thereof) will be retained by us permanently, or unless the Mortgage Loan is being
foreclosed,] in which case the Mortgage File (or such portion thereof) will be returned when no longer required by us for such
purpose.


 


Capitalized terms used
but not defined herein shall have the meaning ascribed to them in the Pooling and Servicing Agreement.


 





	 	[MASTER SERVICER][SPECIAL
SERVICER][OTHER SERVICER][OTHER SPECIAL SERVICER]
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:


 






    	E-2



    	 



    

  


EXHIBIT F


 


SECURITIES LEGEND


 


THIS CERTIFICATE HAS NOT BEEN AND WILL
NOT BE REGISTERED OR QUALIFIED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE
OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED, RESOLD,
PLEDGED OR OTHERWISE TRANSFERRED ONLY IN COMPLIANCE WITH THE SECURITIES ACT AND OTHER APPLICABLE LAWS, AND ONLY (A)(1) PURSUANT
TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (2) FOR SO LONG AS THIS CERTIFICATE IS
ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”), TO AN INSTITUTIONAL INVESTOR THAT
THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING OF RULE 144A (“QUALIFIED
INSTITUTIONAL BUYER”) PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF ANOTHER QUALIFIED INSTITUTIONAL BUYER, WHOM THE
HOLDER HAS INFORMED, IN EACH CASE, THAT THE REOFFER, RESALE, PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (3)
(EXCEPT WITH RESPECT TO THE CLASS [R] CERTIFICATES) TO AN INSTITUTIONAL “ACCREDITED INVESTOR” WITHIN THE MEANING OF
RULE 501 (a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT OR AN ENTITY IN WHICH ALL OF THE EQUITY OWNERS ARE SUCH
ACCREDITED INVESTORS, OR (4) (EXCEPT WITH RESPECT TO THE CLASS [R] CERTIFICATES) TO INSTITUTIONS THAT ARE A NON-“U.S. PERSON”
IN AN “OFFSHORE TRANSACTION,” AS SUCH TERMS ARE DEFINED IN, AND IN ACCORDANCE WITH RULE 903 OR RULE 904 OF REGULATION
S UNDER THE SECURITIES ACT, AND (B) IN ACCORDANCE WITH ANY OTHER APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR
ANY OTHER APPLICABLE JURISDICTION.


 


THE INITIAL INVESTOR IN THIS CERTIFICATE,
AND EACH SUBSEQUENT PURCHASER OF THIS CERTIFICATE, BY PURCHASING THIS CERTIFICATE OR AN INTEREST HEREIN, IS DEEMED TO HAVE AGREED
TO COMPLY WITH CERTAIN TRANSFER REQUIREMENTS SET FORTH IN THE POOLING AND SERVICING AGREEMENT. A TRANSFEREE IS ALSO REQUIRED TO
DELIVER AN INVESTMENT REPRESENTATION LETTER SUBSTANTIALLY IN THE FORM OF EXHIBIT D-1 TO THE POOLING AND SERVICING AGREEMENT IF
SUCH TRANSFEREE IS A QUALIFIED INSTITUTIONAL BUYER OR (OTHER THAN WITH RESPECT TO A RESIDUAL CERTIFICATE) AN INSTITUTIONAL ACCREDITED
INVESTOR, AND MAY ALSO BE REQUIRED TO DELIVER AN OPINION OF COUNSEL IF SUCH TRANSFEREE IS NOT A QUALIFIED INSTITUTIONAL BUYER WITHIN
THE MEANING OF RULE 144A.


 






    	F-1



    	 



    

 


EXHIBIT G


 


FORM OF REGULATION S TRANSFER CERTIFICATE





 


Wells Fargo Bank, National
Association 


Sixth Street & Marquette
Avenue 


Minneapolis, Minnesota
55479-0113 


Attention: DBJPM 2016-C1
Mortgage Trust


 


		Re:	Transfer of DBJPM
                                         2016-C1 Mortgage Trust Commercial Mortgage Pass-Through Certificates, Class [    ]



 


Ladies and Gentlemen:


 


This certificate is delivered
pursuant to Section 5.02 of the Pooling and Servicing Agreement, dated as of April 1, 2016 (the “Pooling and Servicing
Agreement”), and executed in connection with the above referenced transaction, on behalf of the holders of the DBJPM
2016-C1 Mortgage Trust Commercial Mortgage Pass Through Certificates, Class [_] (the “Certificates”) in connection
with the transfer by the undersigned (the “Transferor”) to                                      
(the “Transferee”) of $                    
Certificate Balance of Certificates, in fully registered form (each, an “Individual Certificate”), or a beneficial
interest of such aggregate Certificate Balance in the Regulation S Global Certificate (the “Global Certificate”)
maintained by The Depository Trust Company or its successor as Depositary under the Pooling and Servicing Agreement (such transferred
interest, in either form, being the “Transferred Interest”).


 


In connection with such
transfer, the Transferor does hereby certify that such transfer has been effected in accordance with the transfer restrictions
set forth in the Pooling and Servicing Agreement and the Certificates and (i) with respect to transfers made in accordance with
Regulation S (“Regulation S”) promulgated under the Securities Act of 1933, as amended (the “Securities
Act”), the Transferor does hereby certify that:


 


(1)           the offer of the
Transferred Interest was not made to a person in the United States;


 


[(2)          at the time the
buy order was originated, the Transferee was an institution that was outside the United States or the Transferor and any person
acting on its behalf reasonably believed that the Transferee was an institution that was outside the United States;]*


 


[(2)          the transaction
was executed with a Transferee that was an institution or reasonably believed to be an institution by the Transferor or anyone
acting on its behalf in, on or through the facilities of a designated offshore securities market and neither there undersigned
nor any person acting on its behalf knows that the transaction was pre-arranged with a buyer in the United States;]*


 





 



 


		*	Insert
                                         one of these two provisions, which come from the definition of “offshore transaction”
                                         in Regulation S.



 






    	G-1



    	 



    

 


(3)           no directed selling
efforts have been made in contravention of the requirements of Rule 903(b) or 904(b) of Regulation S, as applicable; and


 


(4)           the transaction
is not part of a plan or scheme to evade the registration requirements of the Securities Act.


 


or (ii) with respect to transfers made
in reliance on Rule 144 under the Securities Act, the Transferor does hereby certify that the Certificates that are being transferred
are not “restricted securities” as defined in Rule 144 under the Securities Act.


 


This certificate and
the statements contained herein are made for your benefit and the benefit of the Depositor, the Certificate Administrator, the
Trustee, the Operating Advisor, the Asset Representations Reviewer, the Master Servicer and the Special Servicer.


 





	 	[Insert
Name of Transferor]
	 	 	 
	 	By:`	 
	 	 	Name:
	 	 	Title:


  


Dated: ________________, 20     


 






    	G-2



    	 



    

 


EXHIBIT H


 


FORM OF TRANSFER CERTIFICATE

FOR EXCHANGE OR TRANSFER FROM RULE 144A

GLOBAL CERTIFICATE TO REGULATION S GLOBAL

CERTIFICATE DURING THE RESTRICTED PERIOD


 


(Exchanges or transfers pursuant to Section
5.02(c)(ii)(A) of 

the Pooling and Servicing Agreement)


 


Wells Fargo Bank, National
Association


Sixth Street & Marquette
Avenue


Minneapolis, Minnesota
55479-0113 


Attention: DBJPM 2016-C1 Mortgage Trust


 


		Re:	Transfer of DBJPM
                                         2016-C1 Mortgage Trust Commercial Mortgage Pass-Through Certificates, Class [    ]



 


Reference is hereby made
to the Pooling and Servicing Agreement, dated as of April 1, 2016 (the “Pooling and Servicing Agreement”), and
executed in connection with the above-referenced transaction. Capitalized terms used but not defined herein shall have the meanings
given to them in the Pooling and Servicing Agreement.


 


This letter relates to
US $                    
aggregate Certificate Balance of Certificates (the “Certificates”) which are held in the form of Rule 144A Global
Certificate (CUSIP No.                     )
with the Depository in the name of [insert name of transferor] (the “Transferor”). The Transferor has requested
a transfer of such beneficial interest for an interest in the Regulation S Global Certificate (CUSIP No.                     )
to be held with [Euroclear] [Clearstream]* (Common Code) through the Depositary.


 


In connection with such
request and in respect of such Certificates, the Transferor does hereby certify that such transfer has been effected in accordance
with the Transfer restrictions set forth in the Pooling and Servicing Agreement and pursuant to and in accordance with Regulation
S under the Securities Act of 1933, as amended (the “Securities Act”), and accordingly the Transferor does hereby
certify that:


 


(1)           the offer of the
Certificates was not made to a person in the United States,


 


[(2)          at
the time the buy order was originated, the transferee was an institution that was outside the United States or the Transferor
and any persons acting on its behalf reasonably believed that the Transferee was outside the United States,]**





 





 



 


*
Select appropriate depository.


 


**
Insert one of these two provisions, which come from the definition of “offshore transaction” in Regulation S.



 






    	H-1



    	 



    

 


[(2)          the transaction
was executed with a Transferee that was an institution or reasonably believed to be an institution by the Transferor or anyone
acting on its behalf in, on or through the facilities of a designated offshore securities market and neither the Transferor nor
any person acting on its behalf knows that the transaction was pre-arranged with a buyer in the United States,]*


 


(3)           no directed selling
efforts have been made in contravention of the requirements of Rule 903(b) or 904(b) of Regulation S, as applicable, and


 


(4)           the transaction
is not part of a plan or scheme to evade the registration requirements of the Securities Act.


 


This certificate and
the statements contained herein are made for your benefit and the benefit of the Depositor, the Certificate Administrator, the
Trustee, the Operating Advisor, the Asset Representations Reviewer, the Master Servicer and the Special Servicer.


 





	 	[Insert
Name of Transferor]
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:


  


Dated: ________________, 20__


 






    	H-2



    	 



    

 


EXHIBIT I


 


FORM OF TRANSFER CERTIFICATE

FOR EXCHANGE OR TRANSFER FROM RULE 144A

GLOBAL CERTIFICATE TO REGULATION S GLOBAL

CERTIFICATE AFTER THE RESTRICTED PERIOD


 


(Exchange or transfers pursuant to

Section 5.02(c)(ii)(B) of the Pooling and Servicing Agreement)


 


Wells Fargo Bank, National
Association 


Sixth Street & Marquette
Avenue 


Minneapolis, Minnesota
55479-0113 


Attention: DBJPM 2016-C1
Mortgage Trust


 


		Re:	Transfer of DBJPM
                                         2016-C1 Mortgage Trust Commercial Mortgage Pass-Through Certificates, Class [    ]



 


Reference is hereby made
to the Pooling and Servicing Agreement, dated as of April 1, 2016 (the “Pooling and Servicing Agreement”), and
executed in connection with the above referenced transaction. Capitalized terms used but not defined herein shall have the meanings
given to them in the Pooling and Servicing Agreement.


 


The letter relates to
U.S. $                    
aggregate Certificate Balance of Certificates (the “Certificates”) which are held in the form of the Rule 144A
Global Certificate (CUSIP No.                     )
with the Depository in the name of [insert name of transferor] (the “Transferor”). The Transferor has requested
a transfer of such beneficial interest in the Certificates for an interest in the Regulation S Global Certificate (Common Code
No.                     ).


 


In connection with such
request, and in respect of such Certificates, the Transferor does hereby certify that such transfer has been effected in accordance
with the transfer restrictions set forth in the Pooling and Servicing Agreement and, (i) with respect to transfers made in reliance
on Regulation S under the Securities Act of 1933, as amended (the “Securities Act”), the Transferor does hereby
certify that:


 


(1)           the offer of the
Certificates was not made to a person in the United States,


 


[(2)         at
the time the buy order was originated, the transferee was an institution that was outside the United States or the Transferor
and any person acting on its behalf reasonably believed that the transferee was outside the United States,]*


 





 



 


*
Insert one of these two provisions, which come from the definition of “offshore transaction” in Regulation S.


 






    	I-1



    	 



    

 


[(2)          the transaction
was executed with a Transferee that was an institution or reasonably believed to be an institution by the Transferor or anyone
acting on its behalf in, on or through the facilities of a designated offshore securities market and neither the Transferor nor
any person acting on its behalf knows that the transaction was pre-arranged with a buyer in the United States,]*


 


(3)          no directed selling
efforts have been made in contravention of the requirements of Rule 903(b) or 904(b) of Regulation S, as applicable, and


 


(4)          the transaction
is not part of a plan or scheme to evade the registration requirements of the Securities Act;


 


or (ii) with respect to transfers made
in reliance on Rule 144 under the Securities Act, the Transferor does hereby certify that the Certificates that are being transferred
are not “restricted securities” as defined in Rule 144 under the Securities Act.


 


This certificate and
the statements contained herein are made for your benefit and the benefit of the Depositor, the Certificate Administrator, the
Trustee, the Operating Advisor, the Asset Representations Reviewer, the Master Servicer and the Special Servicer.


 





	 	[Insert
Name of Transferor]
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:


 


Dated: _______________, 20___


 






    	I-2



    	 



    

 


EXHIBIT J


 


FORM OF TRANSFER CERTIFICATE

FOR EXCHANGE OR TRANSFER FROM REGULATION S GLOBAL

CERTIFICATE TO RULE 144A GLOBAL CERTIFICATE DURING THE RESTRICTED PERIOD


 


(Exchange or transfers pursuant to Section
5.02(c)(ii)(C)

of the Pooling and Servicing Agreement)







Wells Fargo Bank, National Association


Sixth Street & Marquette
Avenue


Minneapolis, Minnesota
55479-0113


Attention: DBJPM 2016-C1
Mortgage Trust 


 


		Re:	Transfer of DBJPM
                                         2016-C1 Mortgage Trust Commercial Mortgage Pass-Through Certificates, Class [    ]



 


Reference is hereby made
to the Pooling and Servicing Agreement, dated as of April 1, 2016 (the “Pooling and Servicing Agreement”), and
executed in connection with the above referenced transaction. Capitalized terms used but not defined herein shall have the meanings
given to them in the Pooling and Servicing Agreement.


 


This letter relates to
U.S. $                    
aggregate Certificate Balance of Certificates (the “Certificates”) which are held in the form of the Regulation
S Global Certificate (CUSIP No.                     )
with [Euroclear] [Clearstream]* (Common Code                     )
through the Depository in the name of [insert name of transferor] (the “Transferor”). The Transferor has requested
a transfer of such beneficial interest in the Certificates for an interest in the Regulation 144A Global Certificate (CUSIP No.
                    ).


 


In connection with such
request, and in respect of such Certificates, the Transferor does hereby certify that such Certificates are being transferred in
accordance with (i) the transfer restrictions set forth in the Pooling and Servicing Agreement and (ii) Rule 144A under the Securities
Act to a transferee that the Transferor reasonably believes is purchasing the Certificates for its own account with respect to
which the transferee exercises sole investment discretion and the transferee and any such account is “qualified institutional
buyer” within the meaning of Rule 144A, in each case in a transaction meeting the requirements of Rule 144A and in accordance
with any applicable securities laws of any state of the United States or an jurisdiction.


 


This certificate and
the statements contained herein are made for your benefit and the benefit of the Depositor, the Certificate Administrator, the
Trustee, the Operating Advisor, the Asset Representations Reviewer, the Master Servicer and the Special Servicer.


 





 



 


*
Select appropriate depositary.


 






    	J-1



    	 



    

 





	 	[Insert
Name of Transferor]
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:


  


Dated: ______________, 20__


 






    	J-2



    	 



    

 


EXHIBIT K


 


FORM OF DISTRIBUTION DATE STATEMENT


 






    	K-1



    	 



    

 






 


 









	 	 	 	 
		DBJPM 2016-C1 Mortgage Trust

Commercial Mortgage Pass-Through Certificates

Series 2016-C1	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Payment Date:	5/12/16
	8480 Stagecoach Circle	Record Date:	4/29/16
	Frederick, MD 21701-4747	Determination Date:	5/6/16




	 	 	 	 	 	 	 	 	 
	 	 	 	 	DISTRIBUTION DATE STATEMENT	 	 	 
	 	 	 	 	Table of Contents	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	STATEMENT SECTIONS	PAGE(s)	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	Certificate Distribution Detail	2	 	 	 
	 	 	 	 	Certificate Factor Detail	3	 	 	 
	 	 	 	 	Reconciliation Detail	4	 	 	 
	 	 	 	 	Other Required Information	5	 	 	 
	 	 	 	 	Cash Reconciliation Detail	6	 	 	 
	 	 	 	 	Current Mortgage Loan and Property Stratification Tables	7-9	 	 	 
	 	 	 	 	Mortgage Loan Detail	10	 	 	 
	 	 	 	 	NOI Detail	11	 	 	 
	 	 	 	 	Principal Prepayment Detail	12	 	 	 
	 	 	 	 	Historical Detail	13	 	 	 
	 	 	 	 	Delinquency Loan Detail	14	 	 	 
	 	 	 	 	Specially Serviced Loan Detail	15-16	 	 	 
	 	 	 	 	Advance Summary	17	 	 	 
	 	 	 	 	Modified Loan Detail	18	 	 	 
	 	 	 	 	Historical Liquidated Loan Detail	19	 	 	 
	 	 	 	 	Historical Bond / Collateral Loss Reconciliation	20	 	 	 
	 	 	 	 	Interest Shortfall Reconciliation Detail	21-22	 	 	 
	 	 	 	 	Defeased Loan Detail	23	 	 	 
	 	 	 	 	Supplemental Reporting	24	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 




	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	Depositor	 	 	 	Master
    Servicer	 	 	 	Special
    Servicer	 	 	 	Operating Advisor /
Asset Representations Reviewer	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	Deutsche Mortgage & Asset Receiving 	 	 	 	Wells Fargo Bank, National Association	 	 	 	Midland Loan Services	 	 	 	Park Bridge Lender Services LLC	 	 	 
	 	 	 	Corporation	 	 	 	550 S. Tryon Street, 14th Floor	 	 	 	10851 Mastin Street	 	 	 	41 Watchung Plaza, Suite 250	 	 	 
	 	 	 	60 Wall Street	 	 	 	Charlotte, NC 28202	 	 	 	Building 82, Suite 700	 	 	 	Montclair, NJ 07042	 	 	 
	 	 	 	New York, NY 10005	 	 	 	 	 	 	 	Overland Park, KS 66210	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	Contact:	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	Contact:             Helaine M. Kaplan	 	 	 	REAM_InvestorRelations@wellsfargo.com	 	 	 	Contact:     Heather Wagner	 	 	 	Contact:              David Rodgers	 	 	 
	 	 	 	Phone Number: (212) 250-5270	 	 	 	Phone Number: (866) 898-1615	 	 	 	Phone Number: (913) 253-9396	 	 	 	Phone Number:   (212) 310-9821	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	This report is compiled by Wells Fargo Bank, N.A. from information provided by third parties.  Wells Fargo Bank, N.A. has not independently confirmed the accuracy of the information.

        

        Please visit www.ctslink.com for additional information and special notices.  In addition, certificateholders may register online for email notification when special notices are posted.  For information or assistance please call 866-846-4526.
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 



  









    	Page 1 of 24



    	 



    

 







	 	 	 	 
		DBJPM 2016-C1 Mortgage Trust

Commercial Mortgage Pass-Through Certificates

Series 2016-C1	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Payment Date:	5/12/16
	8480 Stagecoach Circle	Record Date:	4/29/16
	Frederick, MD 21701-4747	Determination Date:	5/6/16






	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Certificate Distribution
    Detail	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Class	 	CUSIP	 	Pass-Through

    Rate	 	Original

    Balance	 	Beginning

    Balance	 	Principal

    Distribution	 	Interest

    Distribution	 	Prepayment

    Premium	 	Realized
    Loss/

    Additional Trust

    Fund Expenses	 	Total

    Distribution	 	Ending

    Balance	 	Current

    Subordination

    Level (1)	 	 
	 	 	A-1	 	 	 	0.000000%	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 
	 	 	A-2	 	 	 	0.000000%	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 
	 	 	A-SB	 	 	 	0.000000%	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 
	 	 	A-3A	 	 	 	0.000000%	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 
	 	 	A-3B	 	 	 	0.000000%	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 
	 	 	A-4	 	 	 	0.000000%	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 
	 	 	A-M	 	 	 	0.000000%	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 
	 	 	B	 	 	 	0.000000%	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 
	 	 	C	 	 	 	0.000000%	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 
	 	 	D	 	 	 	0.000000%	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 
	 	 	E	 	 	 	0.000000%	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 
	 	 	F	 	 	 	0.000000%	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 
	 	 	G	 	 	 	0.000000%	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 
	 	 	H	 	 	 	0.000000%	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 
	 	 	R	 	 	 	0.000000%	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 
	 	 	Totals	 	 	 	 	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Class	 	CUSIP	 	Pass-Through

    Rate	 	Original

    Notional

    Amount	 	Beginning

    Notional

    Amount	 	Interest

    Distribution	 	Prepayment

    Premium	 	Total

    Distribution	 	Ending

    Notional

    Amount	 	 	 	 	 	 	 	 
	 	 	X-A	 	 	 	0.000000%	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 	 	 	 	 	 	 
	 	 	X-B	 	 	 	0.000000%	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 	 	 	 	 	 	 
	 	 	X-C	 	 	 	0.000000%	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 	 	 	 	 	 	 
	 	 	X-D	 	 	 	0.000000%	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 	 	 	 	 	 	 
	 	 	X-E	 	 	 	0.000000%	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 	 	 	 	 	 	 
	 	 	X-F	 	 	 	0.000000%	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 	 	 	 	 	 	 
	 	 	(1) Calculated by taking (A) the sum of the ending certificate balance of all classes less (B) the sum of (i) the ending balance of the designated class and (ii) the ending certificate balance of all classes which are not subordinate to the designated class and dividing the result by (A).

                                               

                                               

                                               



	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 


 



    	Page 2 of 24



    	 



    




	 	 	 	 
		DBJPM 2016-C1 Mortgage Trust

Commercial Mortgage Pass-Through Certificates

Series 2016-C1	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Payment Date:	5/12/16
	8480 Stagecoach Circle	Record Date:	4/29/16
	Frederick, MD 21701-4747	Determination Date:	5/6/16



	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	Certificate Factor Detail
	 	 	 	 	 	 	 	 	 	 
	 	Class	CUSIP	Beginning

Balance
	Principal

Distribution
	Interest

Distribution
	Prepayment

Premium
	Realized
Loss/

Additional Trust

Fund Expenses
	Ending

Balance
	 
	 	 
	 	 
	 	A-1	 	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	 
	 	A-2	 	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	 
	 	A-SB	 	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	 
	 	A-3A	 	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	 
	 	A-3B	 	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	 
	 	A-4	 	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	 
	 	A-M	 	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	 
	 	B	 	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	 
	 	C	 	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	 
	 	D	 	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	 
	 	E	 	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	 
	 	F	 	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	 
	 	G	 	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	 
	 	H	 	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	 
	 	R	 	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	 
	 	 	 	 	 	 	 	 	 	 
	 	Class	CUSIP	Beginning

        Notional

        Amount
	Interest

        Distribution
	Prepayment

        Premium
	Ending

        Notional

        Amount
	 	 	 
	 	 	 	 
	 	 	 	 
	 	X-A	 	0.00000000	0.00000000	0.00000000	0.00000000	 	 	 
	 	X-B	 	0.00000000	0.00000000	0.00000000	0.00000000	 	 	 
	 	X-C	 	0.00000000	0.00000000	0.00000000	0.00000000	 	 	 
	 	X-D	 	0.00000000	0.00000000	0.00000000	0.00000000	 	 	 
	 	X-E	 	0.00000000	0.00000000	0.00000000	0.00000000	 	 	 
	 	X-F	 	0.00000000	0.00000000	0.00000000	0.00000000	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	

                    
	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 



 






    	Page 3 of 24



    	 



    

 








 


	 	 	 	 
		DBJPM 2016-C1 Mortgage Trust

Commercial Mortgage Pass-Through Certificates

Series 2016-C1	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Payment Date:	5/12/16
	8480 Stagecoach Circle	Record Date:	4/29/16
	Frederick, MD 21701-4747	Determination Date:	5/6/16



	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Reconciliation Detail	 	 
	 	 	Principal Reconciliation	 	 
	 	 	 	 	Stated
    Beginning 

    Principal Balance	 	Unpaid
    Beginning

    Principal Balance	 	Scheduled
    

    Principal	 	Unscheduled

    Principal	 	Principal

    Adjustments	 	Realized
    Loss	 	Stated
    Ending

    Principal Balance	 	Unpaid
    Ending

    Principal Balance	 	Current
    Principal

    Distribution Amount	 	 
	 	 	Total	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 




	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	
    Certificate Interest Reconciliation
    	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Class	 	Accrual

    Dates	 	Accrual
 Days	 	Accrued

    Certificate

    Interest	 	Net Aggregate

    Prepayment

    Interest Shortfall	 	Distributable

    Certificate

    Interest	 	Distributable

    Certificate Interest

    Adjustment	 	WAC CAP

    Shortfall	 	Additional

    Trust Fund

    Expenses	 	Interest

    Distribution	 	Remaining
    Unpaid

    Distributable

 Certificate Interest	 	 
	 	 	A-1	 	0	 	0	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00  
    	 	 
	 	 	A-2	 	0	 	0	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00  
    	 	 
	 	 	A-SB	 	0	 	0	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00  
    	 	 
	 	 	A-3A	 	0	 	0	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00  
    	 	 
	 	 	A-3B	 	0	 	0	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00  
    	 	 
	 	 	A-4	 	0	 	0	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00  
    	 	 
	 	 	X-A	 	0	 	0	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00  
    	 	 
	 	 	X-B	 	0	 	0	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00  
    	 	 
	 	 	X-C	 	0	 	0	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00  
    	 	 
	 	 	X-D	 	0	 	0	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00  
    	 	 
	 	 	X-E	 	0	 	0	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00  
    	 	 
	 	 	X-F	 	0	 	0	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00  
    	 	 
	 	 	A-M	 	0	 	0	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00  
    	 	 
	 	 	B	 	0	 	0	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00  
    	 	 
	 	 	C	 	0	 	0	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00  
    	 	 
	 	 	D	 	0	 	0	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00  
    	 	 
	 	 	E	 	0	 	0	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00  
    	 	 
	 	 	F	 	0	 	0	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00  	 	 
	 	 	G	 	0	 	0	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00  
    	 	 
	 	 	H	 	0	 	0	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00  
    	 	 
	 	 	R	 	0	 	0	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00  
    	 	 
	 	 	Totals	 	 	 	0	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00  
    	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 




 





    	Page 4 of 24



    	 



    







	 	 	 	 
		DBJPM 2016-C1 Mortgage Trust

Commercial Mortgage Pass-Through Certificates

Series 2016-C1	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Payment Date:	5/12/16
	8480 Stagecoach Circle	Record Date:	4/29/16
	Frederick, MD 21701-4747	Determination Date:	5/6/16




	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Other Required Information	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Available Distribution Amount (1)	 	  0.00	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	Appraisal Reduction Amount	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	Loan

    Number	 	 	Appraisal	 	 	Cumulative	 	 	Most
    Recent	 	 	 
	 	 	 	 	 	 	 	 	 	Reduction	 	 	ASER	 	 	App. Red.	 	 	 
	 	 	 	 	 	 	 	 	 	Effected	 	 	Amount	 	 	Date	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	Total	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	
        (1) The Available Distribution
        Amount includes any Prepayment Premiums.
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 



 



    	Page 5 of 24



    	 



    






 



	 	 	 	 
		DBJPM 2016-C1 Mortgage Trust

Commercial Mortgage Pass-Through Certificates

Series 2016-C1	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Payment Date:	5/12/16
	8480 Stagecoach Circle	Record Date:	4/29/16
	Frederick, MD 21701-4747	Determination Date:	5/6/16



	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	Cash Reconciliation Detail	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	Total Funds Collected	 	 	 	Total Funds Distributed	 	 	 
	 	 	 	 	 	 	 	 	 
	 	Interest:	 	 	 	Fees:	 	 	 
	 	Interest paid or advanced	0.00	 	 	Master Servicing Fee
    - Wells Fargo Bank, N.A. 	0.00	 	 
	 	Interest reductions due to Non-Recoverability
    Determinations	0.00	 	 	Trustee Fee - Wilmington Trust, N.A.	0.00	 	 
	 	Interest Adjustments	0.00	 	 	Certificate Administration Fee - Wells Fargo Bank, N.A.	0.00	 	 
	 	Deferred Interest	0.00	 	 	CREFC Royalty License Fee	0.00	 	 
	 	Net Prepayment Interest Shortfall	0.00	 	 	Operating Advsior Fee - Park Bridge Lender Services LLC	0.00	 	 
	 	Net Prepayment Interest Excess	0.00	 	 	Asset Representations Reviewer  Fee - Park Bridge Lender Services LLC	0.00	 	 
	 	Extension Interest	0.00	 	 	Total Fees	 	0.00	 
	 	Interest Reserve Withdrawal	0.00	 	 	Additional Trust Fund Expenses:	 	 	 
	 	Total Interest Collected	 	0.00	 	Reimbursement for Interest on Advances	0.00	 	 
	 	 	 	 	 	ASER Amount	0.00	 	 
	 	Principal:	 	 	 	Special Servicing Fee	0.00	 	 
	 	Scheduled Principal	0.00	 	 	Rating Agency Expenses	0.00	 	 
	 	Unscheduled Principal	0.00	 	 	Attorney Fees & Expenses	0.00	 	 
	 	Principal Prepayments	0.00	 	 	Bankruptcy Expense	0.00	 	 
	 	Collection of Principal after Maturity
    Date	0.00	 	 	Taxes Imposed on Trust Fund	0.00	 	 
	 	Recoveries from Liquidation and Insurance
    Proceeds	0.00	 	 	Non-Recoverable Advances	0.00	 	 
	 	Excess of Prior Principal Amounts paid	0.00	 	 	Other Expenses	0.00	 	 
	 	Curtailments	0.00	 	 	Total Additional Trust Fund Expenses	 	0.00	 
	 	Negative Amortization	0.00	 	 	 	 	 	 
	 	Principal Adjustments	0.00	 	 	Interest Reserve Deposit	 	0.00	 
	 	Total Principal Collected	 	0.00	 	 	 	 	 
	 	 	 	 	 	Payments to Certificateholders &
    Others:	 	 	 
	 	Other:	 	 	 	Interest Distribution	0.00	 	 
	 	Prepayment Penalties/Yield Maintenance	0.00	 	 	Principal Distribution	0.00	 	 
	 	Repayment Fees	0.00	 	 	Prepayment Penalties/Yield Maintenance	0.00	 	 
	 	Borrower Option Extension Fees	0.00	 	 	Borrower Option Extension Fees	0.00	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	Total Other Collected	 	0.00	 	Total Payments to Certificateholders
    & Others	 	0.00	 
	 	Total Funds Collected	 	0.00	 	Total Funds Distributed	 	0.00	 
	 	 	 	 	 	 	 	 	 



 



    	Page 6 of 24



    	 



    







	 	 	 	 
		DBJPM 2016-C1 Mortgage Trust

Commercial Mortgage Pass-Through Certificates

Series 2016-C1	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Payment Date:	5/12/16
	8480 Stagecoach Circle	Record Date:	4/29/16
	Frederick, MD 21701-4747	Determination Date:	5/6/16



	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Current Mortgage Loan
    and Property Stratification Tables

    Aggregate Pool	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Scheduled Balance	 	State   (3)	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Scheduled

    Balance	#
    of

    loans	Scheduled

    Balance	%
    of

    Agg.

    Bal.	WAM

    (2)	WAC	Weighted

    Avg DSCR (1)	 	State	#
    of

    Props.	Scheduled

    Balance	%
    of

    Agg.

    Bal.	WAM

    (2)	WAC	Weighted

    Avg DSCR (1)	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Totals	 	 	 	 	 	 	 	Totals	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 



 


    	Page 7 of 24



    	 



    
 



	 	 	 	 
		DBJPM 2016-C1 Mortgage Trust

Commercial Mortgage Pass-Through Certificates

Series 2016-C1	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Payment Date:	5/12/16
	8480 Stagecoach Circle	Record Date:	4/29/16
	Frederick, MD 21701-4747	Determination Date:	5/6/16




	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Current Mortgage Loan
    and Property Stratification Tables

    Aggregate Pool	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Debt Service Coverage Ratio	 	Property Type   (3)	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Debt
    Service

    Coverage Ratio	#
    of

    loans	Scheduled

    Balance	%
    of

    Agg.

    Bal.	WAM

    (2)	WAC	Weighted

    Avg DSCR (1)	 	Property
    Type	#
    of

    Props.	Scheduled

    Balance	%
    of

    Agg.

    Bal.	WAM

    (2)	WAC	Weighted

    Avg DSCR (1)	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Totals	 	 	 	 	 	 	 	Totals	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Note Rate	 	Seasoning	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Note

    Rate	#
    of

    loans	Scheduled

    Balance	%
    of

    Agg.

    Bal.	WAM

    (2)	WAC	Weighted

    Avg DSCR (1)	 	Seasoning	#
    of

    loans	Scheduled

    Balance	%
    of

    Agg.

    Bal.	WAM

    (2)	WAC	Weighted

    Avg DSCR (1)	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Totals	 	 	 	 	 	 	 	Totals	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	See footnotes on last page
    of this section.	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 



 



    	Page 8 of 24



    	 



    





	 	 	 	 
		DBJPM 2016-C1 Mortgage Trust

Commercial Mortgage Pass-Through Certificates

Series 2016-C1	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Payment Date:	5/12/16
	8480 Stagecoach Circle	Record Date:	4/29/16
	Frederick, MD 21701-4747	Determination Date:	5/6/16



	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Current Mortgage Loan
    and Property Stratification Tables

    Aggregate Pool	 
	 	 	 	 	 
	 	Anticipated Remaining Term
    (ARD and Balloon Loans)	 	Remaining Stated Term (Fully
    Amortizing Loans)	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Anticipated
    Remaining

    Term (2)	#
    of

    loans	Scheduled

    Balance	%
    of

    Agg.

    Bal.	WAM
    

    (2)	WAC	Weighted

    Avg DSCR (1)	 	Remaining
    Stated

    Term	#
    of

    loans	Scheduled

    Balance	%
    of

    Agg.

    Bal.	WAM

    (2)	WAC	Weighted

    Avg DSCR (1)	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Totals	 	 	 	 	 	 	 	Totals	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Remaining Amortization
    Term (ARD and Balloon Loans)	 	Age of Most Recent NOI	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Remaining
    Amortization

    Term	#
    of

    loans	Scheduled

    Balance	%
    of

    Agg.

    Bal.	WAM
    

    (2)	WAC	Weighted

    Avg DSCR (1)	 	Age
    of Most

    Recent NOI	#
    of

    loans	Scheduled

    Balance	%
    of

    Agg.

    Bal.	WAM

    (2)	WAC	Weighted

    Avg DSCR (1)	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Totals	 	 	 	 	 	 	 	Totals	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	


(1) Debt Service Coverage Ratios
are updated periodically as new NOI figures become available from borrowers on an asset level. In all cases, the most recent DSCR
provided by the Servicer is used. To the extent that no DSCR is provided by the Servicer, information from the offering document
is used. The debt service coverage ratio information was provided to the Certificate Administrator by the Master Servicer and
the Certificate Administrator has not independently confirmed the accuracy of such information.


	 
	 	 	 
	 	(2) Anticipated Remaining Term and WAM are each calculated based upon the term from the current month to the earlier of the Anticipated Repayment Date, if applicable, and the maturity date.	 
	 	 	 
	 	(3) Data in this table was calculated by allocating pro-rata the current loan information to the properties based upon the Cut-off Date balance of each property as disclosed in the offering document.	 
	 	 	 	 	 


 


    	Page 9 of 24



    	 



    

 


	 	 	 	 
		DBJPM 2016-C1 Mortgage Trust

Commercial Mortgage Pass-Through Certificates

Series 2016-C1	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Payment Date:	5/12/16
	8480 Stagecoach Circle	Record Date:	4/29/16
	Frederick, MD 21701-4747	Determination Date:	5/6/16



	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Mortgage
    Loan Detail	 
	 	 	 
	 	Loan

    Number	ODCR
    	Property

    Type (1)	City	State	Interest

    Payment	Principal

    Payment	Gross

    Coupon
    	Anticipated
    

    Repayment

    Date	Maturity

    Date	Neg.

    Amort

    (Y/N)	Beginning

    Scheduled

    Balance	Ending

    Scheduled

    Balance	Paid

    Thru

    Date	Appraisal

    Reduction

    Date	Appraisal

    Reduction

    Amount	Res.

    Strat.

    (2)	Mod.

    Code

    (3)	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Totals	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 




	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	(1)
    Property Type Code	(2)
    Resolution Strategy Code	 	(3) Modification Code	 
	 	 	 	 	 	 
	 	MF 	-	Multi-Family	OF	-	Office	1	-	Modification	6	-	DPO	10	-	Deed in Lieu Of	1	-	Maturity Date Extension	 
	 	RT 	-	Retail	MU	-	Mixed Use	2 	-	Foreclosure	7	-	REO	 	 	     Foreclosure	2	-	Amortization Change	 
	 	HC	-	Health Care	LO	-	Lodging	3	-	Bankruptcy	8	-	Resolved	11	-	Full Payoff	3	-	Principal Write-Off	 
	 	IN  	-	Industrial	SS	-	Self Storage	4	-	Extension	9	-	Pending Return	12	-	Reps and Warranties	4	-	Combination



	 
	 	WH	-	Warehouse	OT	-	Other	5	-	Note Sale	 	 	     to Master Servicer	13	-	Other or TBD	 	 	 	 
	 	MH 	-	Mobile Home Park	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 



 


    	Page 10 of 24



    	 



    

 


	 	 	 	 
		DBJPM 2016-C1 Mortgage Trust

Commercial Mortgage Pass-Through Certificates

Series 2016-C1	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Payment Date:	5/12/16
	8480 Stagecoach Circle	Record Date:	4/29/16
	Frederick, MD 21701-4747	Determination Date:	5/6/16




	 	 	 	 	 	 	 	 	 	 	 	 
	 	NOI Detail	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	Loan

    Number	ODCR	Property

    Type	City	State	Ending

    Scheduled

    Balance	Most

    Recent

    Fiscal NOI	Most

    Recent

    NOI	Most
    Recent

    NOI Start

    Date	Most
    Recent

    NOI End

    Date	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	Total	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 


 


    	Page 11 of 24



    	 



    





 


	 	 	 	 
		DBJPM 2016-C1 Mortgage Trust

Commercial Mortgage Pass-Through Certificates

Series 2016-C1	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Payment Date:	5/12/16
	8480 Stagecoach Circle	Record Date:	4/29/16
	Frederick, MD 21701-4747	Determination Date:	5/6/16



	 	 	 	 	 	 	 	 	 
	 	Principal Prepayment Detail	 
	 	 	 	 	 	 	 	 	 
	 	Loan Number	Loan Group	Offering
    Document	Principal
    Prepayment Amount	Prepayment
    Penalties	 
	 	Cross-Reference	Payoff
    Amount	Curtailment
    Amount	Prepayment
    Premium	Yield
    Maintenance Premium	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	Totals	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 


 


    	Page 12 of 24



    	 



    


 



	 	 	 	 
		DBJPM 2016-C1 Mortgage Trust

Commercial Mortgage Pass-Through Certificates

Series 2016-C1	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Payment Date:	5/12/16
	8480 Stagecoach Circle	Record Date:	4/29/16
	Frederick, MD 21701-4747	Determination Date:	5/6/16




	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Historical Detail	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Delinquencies	Prepayments	Rate
    and Maturities	 
	 	Distribution	30-59
    Days	60-89
    Days	90
    Days or More	Foreclosure	REO	Modifications	Curtailments	Payoff	Next
    Weighted Avg.	 	 
	 	Date	#	Balance	#	Balance	#	Balance	#	Balance	#	Balance	#	Balance	#	Balance	#	Balance	Coupon	Remit	WAM	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Note: Foreclosure and REO Totals are excluded from the
    delinquencies.	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 


 


    	Page 13 of 24



    	 



    


 



	 	 	 	 
		DBJPM 2016-C1 Mortgage Trust

Commercial Mortgage Pass-Through Certificates

Series 2016-C1	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Payment Date:	5/12/16
	8480 Stagecoach Circle	Record Date:	4/29/16
	Frederick, MD 21701-4747	Determination Date:	5/6/16




	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Delinquency Loan Detail	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Loan
    Number	Offering

    Document

    Cross-Reference	#
    of

    Months

    Delinq.	Paid
    Through

    Date	Current

    P & I

    Advances	Outstanding

    P & I

    Advances **	Status
    of

    Mortgage

    Loan  (1)	Resolution

    Strategy

    Code  (2)	Servicing
Transfer Date	Foreclosure

    Date	Actual

    Principal

    Balance	Outstanding

    Servicing

    Advances	Bankruptcy

    Date	REO

    Date	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Totals	 	 	 	 	 	 	 	 	 	 	 	 	 	 



	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	(1)
    Status of Mortgage Loan	 	 	(2)
    Resolution Strategy Code	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	A	-	Payment Not Received	0	-   Current	4	-	Assumed Scheduled Payment	1	-	Modification	6	-	DPO	10	-	Deed In Lieu Of	 	 
	 	 	 	 	But Still in Grace Period	1	-   One Month Delinquent	 	 	(Performing Matured Balloon)	2 	-	Foreclosure	7	-	REO	 	 	Foreclosure	 	 
	 	 	 	 	Or Not Yet Due	2	-   Two Months Delinquent	5	-	Non Performing Matured Balloon	3 	-	Bankruptcy	8	-	Resolved	11	-	Full Payoff	 	 
	 	 	B	-	Late Payment But Less	3	-   Three or More Months Delinquent	 	 	 	4 	-	Extension	9	-	Pending Return	12	-	Reps and Warranties	 	 
	 	 	 	 	Than 1 Month Delinquent	 	 	 	 	 	5 	-	Note Sale	 	 	to Master Servicer	13	-	Other or TBD	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	** Outstanding
    P & I Advances include the current period advance.	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 


 


    	Page 14 of 24



    	 



    


 


	 	 	 	 
		DBJPM 2016-C1 Mortgage Trust

Commercial Mortgage Pass-Through Certificates

Series 2016-C1	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Payment Date:	5/12/16
	8480 Stagecoach Circle	Record Date:	4/29/16
	Frederick, MD 21701-4747	Determination Date:	5/6/16



	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Specially Serviced Loan
    Detail - Part 1	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Distribution

    Date	Loan

    Number	Offering

    Document

    Cross-Reference	Servicing

    Transfer

    Date	Resolution

    Strategy

    Code (1)	Scheduled

    Balance	Property

    Type (2)	State	Interest

    Rate	Actual

    Balance	Net

    Operating

    Income	NOI

    Date	DSCR	Note

    Date	Maturity

    Date	Remaining

    Amortization

    Term	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 




	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	(1) Resolution Strategy Code	(2) Property Type Code          	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	1	-   Modification	6	-	DPO	10	-	Deed In Lieu Of	MF	-	  Multi-Family	OF	-	Office	 
	 	2	-   Foreclosure	7	-	REO	 	 	Foreclosure	RT	-	  Retail	MU	-	Mixed use	 
	 	3	-   Bankruptcy	8	-	Resolved	11	-	Full Payoff	HC	-	  Health Care	LO	-	Lodging	 
	 	4	-   Extension	9	-	Pending Return	12	-	Reps and Warranties	IN	-	  Industrial	SS	-	Self Storage	 
	 	5	-   Note Sale	 	 	to Master Servicer	13	-	Other or TBD	WH	-	  Warehouse	OT	-	Other	 
	 	 	 	 	 	 	 	 	 	MH	-	  Mobile Home Park	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 


 


    	Page 15 of 24



    	 



    






 


	 	 	 	 
		DBJPM 2016-C1 Mortgage Trust

Commercial Mortgage Pass-Through Certificates

Series 2016-C1	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Payment Date:	5/12/16
	8480 Stagecoach Circle	Record Date:	4/29/16
	Frederick, MD 21701-4747	Determination Date:	5/6/16




	 	 	 	 	 	 	 	 	 	 	 	 
	 	Specially Serviced Loan Detail - Part 2	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	Distribution

    Date	Loan

    Number	Offering

    Document

    Cross-Reference	Resolution

    Strategy

    Code (1)	Site

    Inspection

    Date	

    Phase 1 Date
	Appraisal
Date	Appraisal

    Value	Other
    REO

    Property Revenue	Comment	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 



	 	 	 	 	 	 	 	 	 	 	 
	(1)
    Resolution Strategy Code
	 	 	 	 	 	 	 	 	 	 	 
	 	1	-	Modification	6	-	DPO	10	-	Deed In Lieu Of	 
	 	2	-	Foreclosure	7	-	REO	 	 	Foreclosure	 
	 	3	-	Bankruptcy	8	-	Resolved	11	-	Full Payoff	 
	 	4	-	Extension	9	-	Pending Return	12	-	Reps and Warranties	 
	 	5	-	Note Sale	 	 	to Master Servicer	13	-	Other or TBD	 
	 	 	 	 	 	 	 	 	 	 	 


 


    	Page 16 of 24



    	 



    


 


	 	 	 	 
		DBJPM 2016-C1 Mortgage Trust

Commercial Mortgage Pass-Through Certificates

Series 2016-C1	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Payment Date:	5/12/16
	8480 Stagecoach Circle	Record Date:	4/29/16
	Frederick, MD 21701-4747	Determination Date:	5/6/16




	 	 	 	 	 	 	 
	Advance
    Summary
	 	 	 	 	 	 	 
	 	 	Current
    P&I

    Advances	Outstanding
    P&I

    Advances	Outstanding
    Servicing

    Advances	Current
    Period Interest

    on P&I and Servicing

    Advances Paid	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	Totals	0.00	0.00	0.00	0.00	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 


 



    	Page 17 of 24



    	 



    


 


	 	 	 	 
		DBJPM 2016-C1 Mortgage Trust

Commercial Mortgage Pass-Through Certificates

Series 2016-C1	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Payment Date:	5/12/16
	8480 Stagecoach Circle	Record Date:	4/29/16
	Frederick, MD 21701-4747	Determination Date:	5/6/16



	 	 	 	 	 	 	 	 	 	 
	 	Modified Loan Detail	 
	 	 	 	 	 	 	 	 	 	 
	 	Loan

    Number	Offering

    Document

    Cross-Reference	Pre-Modification

    Balance	Post-Modification

    Balance	Pre-Modification

    Interest Rate	Post-Modification

    Interest Rate	Modification

    Date	Modification
    Description	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	Totals	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 


 


    	Page 18 of 24



    	 



    


 


	 	 	 	 
		DBJPM 2016-C1 Mortgage Trust

Commercial Mortgage Pass-Through Certificates

Series 2016-C1	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Payment Date:	5/12/16
	8480 Stagecoach Circle	Record Date:	4/29/16
	Frederick, MD 21701-4747	Determination Date:	5/6/16



	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Historical Liquidated
    Loan Detail	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Distribution

    Date	ODCR	Beginning

    Scheduled

    Balance	Fees,

    Advances,

    and Expenses *	Most
    Recent

    Appraised

    Value or BPO	Gross
    Sales

    Proceeds or

    Other Proceeds	Net
    Proceeds

    Received on

    Liquidation	Net
    Proceeds

    Available for

    Distribution	Realized
    

    Loss to Trust	Date
    of Current

    Period Adj.

    to Trust	Current
    Period

    Adjustment

    to Trust	Cumulative

    Adjustment

    to Trust	Loss
    to Loan

    with Cum

    Adj. to Trust	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Current
    Total	 	 	 	 	 	 	 	 	 	 	 	 
	 	Cumulative
    Total	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	*
    Fees, Advances and Expenses also include outstanding P & I advances and unpaid fees (servicing, trustee, etc.).	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 


 


    	Page 19 of 24



    	 



    



 






	 	 	 	 
		DBJPM 2016-C1 Mortgage Trust

Commercial Mortgage Pass-Through Certificates

Series 2016-C1	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Payment Date:	5/12/16
	8480 Stagecoach Circle	Record Date:	4/29/16
	Frederick, MD 21701-4747	Determination Date:	5/6/16




	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Historical Bond/Collateral
    Loss Reconciliation Detail	 
	 	 	 
	 	Distribution

    Date	 	 	Offering

    Document

    Cross-Reference	 	 	Beginning

    Balance

    at Liquidation	 	 	Aggregate

    Realized Loss

    on Loans	 	 	Prior
    Realized

    Loss Applied

    to Certificates	 	 	Amounts

    Covered by

    Credit Support	 	 	Interest

    (Shortages)/

    Excesses	 	 	Modification

    /Appraisal

    Reduction Adj.	 	 	Additional

    (Recoveries)

    /Expenses	 	 	Realized
    Loss

    Applied to

    Certificates to Date	 	 	Recoveries
    of

    Realized Losses

    Paid as Cash	 	 	(Recoveries)/

    Losses Applied to

    Certificate Interest	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	   	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Totals	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 


 




    	Page 20 of 24



    	 



    


 



	 	 	 	 
		DBJPM 2016-C1 Mortgage Trust

Commercial Mortgage Pass-Through Certificates

Series 2016-C1	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Payment Date:	5/12/16
	8480 Stagecoach Circle	Record Date:	4/29/16
	Frederick, MD 21701-4747	Determination Date:	5/6/16




	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Interest Shortfall Reconciliation
    Detail - Part 1	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Offering

    Document

    Cross-

Reference	 	 	Stated

    Principal

    Balance at

    Contribution	 	 	Current

    Ending

    Scheduled

    Balance	 	 	Special
    Servicing Fees	 	 	ASER	 	 	(PPIS)
    Excess	 	 	Non-Recoverable

    (Scheduled

    Interest)	 	 	Interest
    on

    Advances	 	 	Modified
    Interest

    Rate (Reduction)

    /Excess	 
	Monthly	 	 	Liquidation	 	 	Work
    Out
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Totals	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 


 


    	Page 21 of 24



    	 



    


 



	 	 	 	 
		DBJPM 2016-C1 Mortgage Trust

Commercial Mortgage Pass-Through Certificates

Series 2016-C1	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Payment Date:	5/12/16
	8480 Stagecoach Circle	Record Date:	4/29/16
	Frederick, MD 21701-4747	Determination Date:	5/6/16



	 	 	 	 	 	 	 	 	 
	 	Interest Shortfall Reconciliation
    Detail - Part 2	 
	 	 	 	 	 	 	 	 	 
	 	Offering

    Document

    Cross-Reference	Stated
    Principal

    Balance at

    Contribution	Current
    Ending

    Scheduled

    Balance	Reimb
    of Advances to the Servicer	Other
    (Shortfalls)/

    Refunds	Comments	 
	Current
    Month	Left
    to Reimburse

    Master Servicer
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	Totals	 	 	 	 	 	 	 
	 	Interest Shortfall
    Reconciliation Detail Part 2 Total	0.00	 	 	 
	 	Interest Shortfall
    Reconciliation Detail Part 1 Total	0.00	 	 	 
	 	Total Interest
    Shortfall Allocated to Trust	0.00	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 


 



    	Page 22 of 24



    	 



    

 






	 	 	 	 
		DBJPM 2016-C1 Mortgage Trust

Commercial Mortgage Pass-Through Certificates

Series 2016-C1	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Payment Date:	5/12/16
	8480 Stagecoach Circle	Record Date:	4/29/16
	Frederick, MD 21701-4747	Determination Date:	5/6/16



	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	Defeased
    Loan Detail
	 	 	 	 	 	 	 	 
	 	Loan
    Number	Offering
    Document

    Cross-Reference	Ending
    Scheduled

    Balance	Maturity
    Date	Note
    Rate	Defeasance
    Status	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	Totals	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 









 



    	Page 23 of 24



    	 



    
 


	 	 	 	 
		DBJPM 2016-C1 Mortgage Trust

Commercial Mortgage Pass-Through Certificates

Series 2016-C1	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Payment Date:	5/12/16
	8480 Stagecoach Circle	Record Date:	4/29/16
	Frederick, MD 21701-4747	Determination Date:	5/6/16



	 	 	 
	 	 	 
	 	Supplemental Reporting	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 




 




    	Page 24 of 24



    	 



    



 






 


 


EXHIBIT L-1A


 


Form
of Investor Certification for Non-Borrower PartY

(for Persons other than the Controlling Class Representative and/or a Controlling Class Certificateholder)


 


[Date]





 


Wells Fargo Bank, National Association

9062 Old Annapolis Road

Columbia, Maryland 21045


Attention: Corporate
Trust Services – DBJPM 2016-C1 Mortgage Trust





		Email:	trustadministrationgroup@wellsfargo.com



cts.cmbs.bond.admin@wellsfargo.com


 


		Re:	Pooling and Servicing Agreement (“Pooling and Servicing Agreement”)
relating to DBJPM 2016-C1 Mortgage Trust Commercial Mortgage Pass-Through Certificates



 


In accordance with the
requirements for obtaining certain information under the Pooling and Servicing Agreement with respect to the above-referenced certificates
(the “Certificates”), the undersigned hereby certifies and agrees as follows:


 


1.          The undersigned
is a certificateholder, beneficial owner or prospective purchaser of the Class ___ Certificates, and is neither the Controlling
Class Representative nor a Controlling Class Certificateholder.


 


2.          In the case of
a Publicly Offered Certificate, the undersigned has received a copy of the Prospectus.


 


3.          The undersigned
is not a Borrower Party.


 


4.          The undersigned
is requesting access pursuant to the Pooling and Servicing Agreement to certain information (the “Information”) on
the Certificate Administrator’s Website.


 


In consideration of the
disclosure to the undersigned of the Information, or the access thereto, the undersigned shall keep the Information confidential
(except from such outside persons as are assisting it in making an evaluation in connection with purchasing the related Certificates,
from its accountants and attorneys, and otherwise from such governmental or banking authorities or agencies to which the undersigned
is subject), and such Information shall not, without the prior written consent of the Depositor, be otherwise disclosed by the
undersigned or by its officers, directors, partners, employees, agents or representatives (collectively, the “Representatives”)
in any manner whatsoever, in whole or in part.


 






    	L-1A-1



    	 



    

 


The undersigned shall
not use or disclose the Information in any manner which could result in a violation of any provision of the Securities Act of 1933,
as amended (the “Securities Act”), or the Securities Exchange Act of 1934, as amended, or would require registration
of any Certificate not previously registered pursuant to Section 5 of the Securities Act.


 


5.          The undersigned
shall be fully liable for any breach of this agreement by itself or any of its Representatives and shall indemnify the Depositor,
the Certificate Administrator, the Trustee, the Master Servicer, the Special Servicer, the Operating Advisor, the Asset Representations
Reviewer, the Underwriters, the Initial Purchasers and the Trust Fund for any loss, liability or expense incurred thereby with
respect to any such breach by the undersigned or any of its Representatives.


 


6.          The undersigned
agrees that each time it accesses the Certificate Administrator’s Website, the undersigned is deemed to have recertified
that the representations and covenants contained herein remain true and correct.


 


7.          Capitalized terms
used but not defined herein shall have the respective meanings assigned thereto in the Pooling and Servicing Agreement.


 


[BY ITS CERTIFICATION
HEREOF, the undersigned has made the representations above and shall have caused, or shall be deemed to have caused, its name to
be signed hereto by its duly authorized signatory, as of the date certified.]


 





	 	[Certificateholder][Beneficial
Owner][Prospective Purchaser]
	 	 	 
	 	By:	 
	 	 	Title:
	 	 	Company:
	 	 	Phone:


 






    	L-1A-2



    	 



    

 


EXHIBIT L-1B


 


Form
of Investor Certification for Non-Borrower PartY

(for the Controlling Class Representative and/or a Controlling Class Certificateholder)


 


[Date]


 


	Wells Fargo Bank, National Association

Commercial Mortgage Servicing

MAC D1086

550 South Tryon Street, 14th Floor

Charlotte, North Carolina 28202

Attention:  DBJPM 2016-C1 Asset Manager	Wells Fargo Bank, National Association

9062 Old Annapolis Road

Columbia, Maryland 21045

Attention:  Corporate Trust Services – 2016-C1

Email: trustadministrationgroup@wellsfargo.com
 cts.cmbs.bond.admin@wellsfargo.com
	 	 
	
        Midland Loan Services, a Division of PNC Bank,
        National Association

        10851 Mastin Street, Suite 700

        Overland Park, Kansas 66210

        Attention: Executive Vice President – Division Head

         

        Wilmington Trust, National Association

        1100 North Market Street

        Wilmington, Delaware 19890

        Attention: CMBS Trustee DBJPM 2016-C1

        
	
        Park Bridge Lender Services LLC

c/o Park Bridge Financial LLC

41 Watchung Plaza, Suite 250

Montclair, New Jersey 07042

Attention: DBJPM 2016-C1-Surveillance Manager 

        (with a copy sent contemporaneously via email to cmbs.notices@parkbridgefinancial.com)

         

	 	 


		Re:	Pooling and Servicing Agreement (“Pooling and Servicing Agreement”)
relating to DBJPM 2016-C1 Mortgage Trust Commercial Mortgage Pass-Through Certificates



 


In accordance with the
requirements for obtaining certain information under the Pooling and Servicing Agreement with respect to the above-referenced certificates
(the “Certificates”), the undersigned hereby certifies and agrees as follows:


 


1.          The undersigned
is [the Controlling Class Representative][a Controlling Class Certificateholder].


 


3.          The undersigned
is not a Borrower Party.


 


4.          The undersigned
is requesting access pursuant to the Pooling and Servicing Agreement to certain information (the “Information”)
on the Certificate Administrator’s Website.


 






    	L-1B-1



    	 



    

 


In consideration of the
disclosure to the undersigned of the Information, or the access thereto, the undersigned shall keep the Information confidential
(except from such outside persons as are assisting it in making an evaluation in connection with purchasing the related Certificates,
from its accountants and attorneys, and otherwise from such governmental or banking authorities or agencies to which the undersigned
is subject), and such Information shall not, without the prior written consent of the Depositor, be otherwise disclosed by the
undersigned or by its officers, directors, partners, employees, agents or representatives (collectively, the “Representatives”)
in any manner whatsoever, in whole or in part, unless required to do so by law, regulation or legal, judicial or administrative
process; provided, however, that the confidentiality requirement detailed above shall not apply to information which
(i) is already in the undersigned’s possession, (ii) is or becomes publicly available other than as a result of a disclosure
by the undersigned in breach of this agreement or (iii) is or becomes available to the undersigned from a source other than the
Certificate Administrator’s Website.


 


The undersigned shall
not use or disclose the Information in any manner which could result in a violation of any provision of the Securities Act of 1933,
as amended (the “Securities Act”), or the Securities Exchange Act of 1934, as amended, or would require registration
of any Certificate not previously registered pursuant to Section 5 of the Securities Act.


 


5.          The undersigned
shall be fully liable for any breach of this agreement by itself or any of its Representatives and shall indemnify the Depositor,
the Certificate Administrator, the Trustee, the Master Servicer, the Special Servicer, the Operating Advisor, the Asset Representations
Reviewer, the Underwriters, the Initial Purchasers and the Trust Fund for any loss, liability or expense incurred thereby with
respect to any such breach by the undersigned or any of its Representatives.


 


6.          At any time the
undersigned becomes a Borrower Party with respect to any Mortgage Loan, the undersigned shall deliver the certification attached
as Exhibit L-1D to the Pooling and Servicing Agreement and shall deliver to the applicable parties the notices attached as Exhibit
L-1E and Exhibit L-1F to the Pooling and Servicing Agreement.


 


7.          The undersigned
agrees that each time it accesses the Certificate Administrator’s Website, the undersigned is deemed to have recertified
that the representations and covenants contained herein remain true and correct.


 


8.          The undersigned
hereby certifies that an executed copy of this certification in paper form has been delivered in accordance with the notice provisions
of the Pooling and Servicing Agreement to each of the addressees listed above (a) by overnight courier or (b) mailed by registered
mail, postage prepaid.


 


9.          Capitalized terms
used but not defined herein shall have the respective meanings assigned thereto in the Pooling and Servicing Agreement.


 


[BY ITS CERTIFICATION
HEREOF, the undersigned has made the representations above and shall have caused, or shall be deemed to have caused, its name to
be signed hereto by its duly authorized signatory, as of the date certified.]


 






    	L-1B-2



    	 



    

  


	 	[The Controlling
Class Representative][a Controlling Class Certificateholder]
	 	 	 
	 	By:	 
	 	 	Title:
	 	 	Company:
	 	 	Phone:





 






    	L-1B-3



    	 



    

 


EXHIBIT L-1C


 


Form
of Investor Certification for Borrower PartY

(for Persons other than the Controlling Class Representative and/or a Controlling Class Certificateholder)


 


[Date]


 


Wells Fargo Bank, National Association

9062 Old Annapolis Road

Columbia, Maryland 21045

Attention: Corporate Trust Services – DBJPM 2016-C1 


Email: trustadministrationgroup@wellsfargo.com


cts.cmbs.bond.admin@wellsfargo.com


  


Wells Fargo Bank, National Association

Commercial Mortgage Servicing

MAC D1086

550 South Tryon Street, 14th Floor

Charlotte, North Carolina 28202

Attention: DBJPM 2016-C1 Asset Manager


 


		Re:	Pooling and Servicing Agreement (“Pooling and Servicing Agreement”)
relating to DBJPM 2016-C1 Mortgage Trust Commercial Mortgage Pass-Through Certificates



 


In accordance with the
requirements for obtaining certain information under the Pooling and Servicing Agreement with respect to the above-referenced certificates
(the “Certificates”), the undersigned hereby certifies and agrees as follows:


 


1.          The undersigned
is a certificateholder, beneficial owner or prospective purchaser of the Class ___ Certificates, and is neither the Controlling
Class Representative nor a Controlling Class Certificateholder.


 


2           The undersigned
is a Borrower Party.


 


3.          The undersigned
is requesting access pursuant to the Pooling and Servicing Agreement to certain information (the “Information”)
on the Certificate Administrator’s Website.


 


In consideration of the
disclosure to the undersigned of the Information, or the access thereto, the undersigned shall keep the Information confidential
(except from such outside persons as are assisting it in making an evaluation in connection with purchasing the related Certificates,
from its accountants and attorneys, and otherwise from such governmental or banking authorities or agencies to which the undersigned
is subject), and such Information shall not, without the prior written consent of the Depositor, be otherwise disclosed by the


 






    	L-1C-1



    	 



    

 


undersigned
or by its officers, directors, partners, employees, agents or representatives (collectively, the “Representatives”)
in any manner whatsoever, in whole or in part.


 


The undersigned shall
not use or disclose the Information in any manner which could result in a violation of any provision of the Securities Act of 1933,
as amended (the “Securities Act”), or the Securities Exchange Act of 1934, as amended, or would require registration
of any Certificate not previously registered pursuant to Section 5 of the Securities Act.


 


4.          The undersigned
shall be fully liable for any breach of this agreement by itself or any of its Representatives and shall indemnify the Depositor,
the Certificate Administrator, the Trustee, the Master Servicer, the Special Servicer, the Operating Advisor, the Asset Representations
Reviewer, the Underwriters, the Initial Purchasers and the Trust Fund for any loss, liability or expense incurred thereby with
respect to any such breach by the undersigned or any of its Representatives.


 


5.          The undersigned
agrees that each time it accesses the Certificate Administrator’s Website, the undersigned is deemed to have recertified
that the representations and covenants contained herein remain true and correct.


 


6.          Capitalized terms
used but not defined herein shall have the respective meanings assigned thereto in the Pooling and Servicing Agreement.


 


[BY ITS CERTIFICATION
HEREOF, the undersigned shall be deemed to have caused its name to be signed hereto by its duly authorized signatory, as of the
date certified.]


 





	 	[Certificateholder][Beneficial
Owner][Prospective Purchaser]
	 	 	 
	 	By:	 
	 	 	Title:
	 	 	Company:
	 	 	Phone:


 






    	L-1C-2



    	 



    

 


EXHIBIT L-1D


 


Form
of Investor Certification for Borrower PartY

(for the Controlling Class Representative and/or a Controlling Class Certificateholder)


 


[Date]


 


	Wells Fargo Bank, National Association

Commercial Mortgage Servicing

MAC D1086

550 South Tryon Street, 14th Floor

Charlotte, North Carolina 28202

Attention:  DBJPM 2016-C1 Asset Manager	Wells Fargo Bank, National Association

9062 Old Annapolis Road

Columbia, Maryland 21045

Attention:  Corporate Trust Services – 2016-C1

Email: trustadministrationgroup@wellsfargo.com

cts.cmbs.bond.admin@wellsfargo.com
	 	 
	
        Midland Loan Services, a Division of PNC Bank,
        National Association

        10851 Mastin Street, Suite 700

        Overland Park, Kansas 66210

        Attention: Executive Vice President – Division Head

         

        Wilmington Trust, National Association

        1100 North Market Street

        Wilmington, Delaware 19890

        Attention: CMBS Trustee DBJPM 2016-C1

        
	
        Park Bridge Lender Services LLC

c/o Park Bridge Financial LLC

41 Watchung Plaza, Suite 250

Montclair, New Jersey 07042

Attention: DBJPM 2016-C1-Surveillance Manager

        (with a copy sent contemporaneously via email to cmbs.notices@parkbridgefinancial.com)

         

	 	 


		Re:	Pooling and Servicing Agreement (“Pooling and Servicing Agreement”)
relating to DBJPM 2016-C1 Mortgage Trust Commercial Mortgage Pass-Through Certificates



 


In accordance with the
requirements for obtaining certain information under the Pooling and Servicing Agreement with respect to the above-referenced certificates
(the “Certificates”), the undersigned hereby certifies and agrees as follows:


 


1.          The undersigned
is [the Controlling Class Representative][a Controlling Class Certificateholder].


 


2           The undersigned
is a Borrower Party with respect to the following Excluded Controlling Class Mortgage Loans:


 


[IDENTIFY EXCLUDED
CONTROLLING CLASS MORTGAGE LOANS] (the “Excluded Controlling Class Mortgage Loans”)


 






    	L-1D-1



    	 



    

 


3.          Except with respect
to the Excluded Controlling Class Mortgage Loans, the undersigned is requesting access pursuant to the Pooling and Servicing Agreement
to certain information (the “Information”) on the Certificate Administrator’s Website.


 


In consideration of the
disclosure to the undersigned of the Information, or the access thereto, the undersigned shall keep the Information confidential
(except from such outside persons as are assisting it in making an evaluation in connection with purchasing the related Certificates,
from its accountants and attorneys, and otherwise from such governmental or banking authorities or agencies to which the undersigned
is subject), and such Information shall not, without the prior written consent of the Depositor, be otherwise disclosed by the
undersigned or by its officers, directors, partners, employees, agents or representatives (collectively, the “Representatives”)
in any manner whatsoever, in whole or in part.


 


The undersigned shall
not use or disclose the Information in any manner which could result in a violation of any provision of the Securities Act of 1933,
as amended (the “Securities Act”), or the Securities Exchange Act of 1934, as amended, or would require registration
of any Certificate not previously registered pursuant to Section 5 of the Securities Act.


 


4.          The undersigned
hereby acknowledges and agrees that it is prohibited from accessing, reviewing and using Excluded Information (as defined in the
Pooling and Servicing Agreement) relating to the Excluded Controlling Class Mortgage Loans to the extent the undersigned receives
access to such Excluded Information on the Certificate Administrator’s website or otherwise receives access to such Excluded
Information in connection with its duties, or exercise of its rights pursuant to the Pooling and Servicing Agreement.


 


5.          The undersigned
shall be fully liable for any breach of this agreement by itself or any of its Representative and shall indemnify each party to
the Pooling and Servicing Agreement, the Underwriters, the Initial Purchasers and the Trust Fund for any loss, liability or expense
incurred thereby with respect to any such breach by the undersigned or any of its Representatives.


 


6.          To the extent the
undersigned receives access to any Excluded Information on the Certificate Administrator’s Website or otherwise receives
access to such Excluded Information, the undersigned shall be deemed to have agreed that it (i) will not directly or indirectly
provide such Excluded Information to the related Borrower or (A) any employees or personnel of the undersigned or any Affiliate
involved in the management of any investment in the related Borrower or the related Mortgaged Property or (B) to its actual knowledge,
any non-Affiliate that holds a direct or indirect ownership interest in the related Borrower, and (ii) will maintain sufficient
internal controls and appropriate policies and procedures in place in order to comply with the obligations described in clause
(i) above.


 


7.          The undersigned
agrees that each time it accesses the Certificate Administrator’s Website, the undersigned is deemed to have recertified
that the representations and covenants contained herein remain true and correct.


 






    	L-1D-2



    	 



    

 


8.          The undersigned
hereby certifies that an executed copy of this certification in paper form has been delivered in accordance with the notice provisions
of the Agreement to each of the addressees listed above (a) by overnight courier or (b) mailed by registered mail, postage prepaid.


 


9.          Capitalized terms
used but not defined herein shall have the respective meanings assigned thereto in the Pooling and Servicing Agreement.


 


[BY ITS CERTIFICATION
HEREOF, the undersigned shall be deemed to have caused its name to be signed hereto by its duly authorized signatory, as of the
date certified.]


 





	 	[The Controlling
Class Representative][a Controlling Class Certificateholder]
	 	 	 
	 	By:	 
	 	 	Title:
	 	 	Company:
	 	 	Phone:


 






    	L-1D-3



    	 



    

 


EXHIBIT L-1E


 


FORM OF NOTICE OF EXCLUDED CONTROLLING
CLASS HOLDER


 


[Date]


 


	Wells Fargo Bank, National Association

Commercial Mortgage Servicing

MAC D1086

550 South Tryon Street, 14th Floor

Charlotte, North Carolina 28202

Attention:  DBJPM 2016-C1 Asset Manager	Wells Fargo Bank, National Association

9062 Old Annapolis Road

Columbia, Maryland 21045

Attention:  Corporate Trust Services – 2016-C1

Email: trustadministrationgroup@wellsfargo.com

cts.cmbs.bond.admin@wellsfargo.com
	 	 
	
        Midland Loan Services, a Division of PNC Bank,
        National Association

        10851 Mastin Street, Suite 700

        Overland Park, Kansas 66210

        Attention: Executive Vice President – Division Head

         

        Wilmington Trust, National Association

        1100 North Market Street

        Wilmington, Delaware 19890

        Attention: CMBS Trustee DBJPM 2016-C1

        
	
        Park Bridge Lender Services LLC

c/o Park Bridge Financial LLC

41 Watchung Plaza, Suite 250

Montclair, New Jersey 07042

Attention: DBJPM 2016-C1-Surveillance Manager

        (with a copy sent contemporaneously via email to cmbs.notices@parkbridgefinancial.com)

         

	 	 


		Re:	Pooling and Servicing Agreement (“Pooling and Servicing Agreement”)
relating to DBJPM 2016-C1 Mortgage Trust Commercial Mortgage Pass-Through Certificates



 


THIS NOTICE IDENTIFIES
AN “EXCLUDED CONTROLLING CLASS MORTGAGE LOAN” RELATING TO THE DBJPM 2016-C1 MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH
CERTIFICATES REQUIRING ACTION BY YOU AS THE RECIPIENT PURSUANT TO SECTION 3.32 OF THE POOLING AND SERVICING AGREEMENT.


 


In accordance with Section
4.02(b) of the Pooling and Servicing Agreement, with respect to the above-referenced certificates (the “Certificates”),
the undersigned (the “Excluded Controlling Class Holder”) hereby certifies and agrees as follows:


 


1.             
The undersigned is [the Controlling Class Representative] [a Controlling Class Certificateholder] as of the date hereof.


 






    	L-1E-1



    	 



    

 


2.            
The undersigned has become an Excluded Controlling Class Holder with respect to the following Mortgage Loan(s) (“Excluded
Controlling Class Mortgage Loans”):


 


	Mortgage Loan Number	ODCR	Loan Name	Borrower Name
	 	 	 	 
	 	 	 	 
	 	 	 	 


 


3.            
As of the date above, the undersigned is the beneficial owner of the following certificates, and is providing the below
information to the addressees hereto for purposes of their compliance with the Pooling and Servicing Agreement, including, the
Certificate Administrator’s determination as to whether a Consultation Termination Event or Control Termination Event is
in effect with respect to the Excluded Controlling Class Mortgage Loans listed in paragraph 2 if any such mortgage loan is an Excluded
Mortgage Loan:



 


	CUSIP	Class	Outstanding Certificate Balance	Initial Certificate Balance
	 	 	 	 
	 	 	 	 
	 	 	 	 


 


4.             The undersigned is simultaneously providing notice to the Certificate Administrator in the form of Exhibit L-1F to the Pooling
and Servicing Agreement, requesting termination of access to any Excluded Information. The undersigned acknowledges that it is
not permitted to access and shall not access any Excluded Information relating to the Excluded Controlling Class Mortgage Loans
on the Certificate Administrator’s website unless and until it has (i) delivered notice of the termination of the related
Excluded Controlling Class Holder status and (ii) submitted a new investor certification in accordance with Section 4.02(b) of
the Pooling and Servicing Agreement.


 


5.             The undersigned agrees to indemnify and hold harmless each party to the Pooling and Servicing Agreement, the Underwriters,
the Initial Purchasers and the Trust Fund from any damage, loss, cost or liability (including legal fees and expenses and the cost
of enforcing this indemnity) arising out of or resulting from any unauthorized access by the undersigned or any agent, employee,
representative or person acting on its behalf of any Excluded Information relating to the Excluded Controlling Class Mortgage Loans
listed in Paragraph 2 above.


 






    	L-1E-2



    	 



    

 


Capitalized terms used
but not defined herein have the respective meanings given to them in the Pooling and Servicing Agreement.


 


IN WITNESS WHEREOF, the
undersigned has made the representations above and shall be deemed to have caused its name to be signed hereto by its duly authorized
officer, as of the day and year written above.


 





	 	[Controlling Class Representative][a
Controlling Class Certificateholder]
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 	Phone:
	 	 	Email:
	 	 	Address:


 






    	L-1E-3



    	 



    

 


EXHIBIT L-1F


 


FORM OF NOTICE OF EXCLUDED CONTROLLING
CLASS HOLDER TO CERTIFICATE ADMINISTRATOR


 


[Date]


 


	
        Via: Email

        Wells Fargo Bank, National Association

        9062 Old Annapolis Road

        Columbia, Maryland 21045

        Attention: Corporate Trust Services – DBJPM 2016-C1

        trustadministrationgroup@wellsfargo.com

        cts.cmbs.bond.admin@wellsfargo.com

         

        with a copy to:

         

        Wells Fargo Bank, National Association

        8480 Stagecoach Circle

        Frederick, Maryland 21701-4747

        Attention: DBJPM 2016-C1

         



		Re:	Pooling and Servicing Agreement (“Pooling and Servicing Agreement”)
relating to DBJPM 2016-C1 Mortgage Trust Commercial Mortgage Pass-Through Certificates



 


In accordance with Section
4.02(b) of the Pooling and Servicing Agreement, with respect to the above-referenced certificates (the “Certificates”),
the undersigned (the “Excluded Controlling Class Holder”) hereby directs you as follows:


 


1.            
The undersigned is the [Controlling Class Representative][a Controlling Class Certificateholder] as of the date hereof.


 


2.            
The undersigned has become an Excluded Controlling Class Holder with respect to the following Mortgage Loan(s) (“Excluded
Controlling Class Mortgage Loans”):


 


	Mortgage Loan Number	ODCR	Loan Name	Borrower Name
	 	 	 	 
	 	 	 	 



 






    	L-1F-1



    	 



    

 


	 	 	 	 


 


3.             The following USER IDs for CTSLink are affiliated with the undersigned and access to any information on the Certificate
Administrator’s Website with respect to the DBJPM 2016-C1 Mortgage Trust securitization should be revoked as to such users:


  


 




 



 


 


 




 



 




  


4.             The undersigned acknowledges that it is not permitted to access and shall not access any Excluded Information with respect
to such Excluded Controlling Class Mortgage Loans on the Certificate Administrator’s website unless and until it (i) is no
longer an Excluded Controlling Class Holder with respect to such Excluded Controlling Class Mortgage Loans, (ii) has delivered
notice of the related Excluded Controlling Class Holder status and (iii) has submitted an investor certification in the form of
Exhibit L-1E to the Pooling and Servicing Agreement.


 


Capitalized terms used
but not defined herein have the respective meanings given to them in the Pooling and Servicing Agreement.


 


IN WITNESS WHEREOF, the
undersigned has made the representations above and shall be deemed to have caused its name to be signed hereto by its duly authorized
officer, as of the day and year written above.


 





	 	 	[Controlling Class Representative][a Controlling Class Certificateholder]
	 	 	 
	 		 
	 	 	Name:
	 	 	Title:
	 	 	Phone:
	 	 	Email:
	 	 	Address:


  


The undersigned hereby acknowledges that

access to CTSLink has been revoked for

the users listed in Paragraph 3.


 


WELLS FARGO BANK, NATIONAL ASSOCIATION,

Certificate Administrator


 






    	L-1F-2



    	 



    

  





	 	 



Name:

Title:


 






    	L-1F-3



    	 



    

 






EXHIBIT L-1G


Form
of Certification of the Controlling Class Representative


 


[Date]


	 	 	 
	Wells Fargo Bank, National Association

Commercial Mortgage Servicing

MAC D1086

550 South Tryon Street, 14th Floor

Charlotte, North Carolina 28202

Attention:  DBJPM 2016-C1 Asset Manager	 	Wells Fargo Bank, National Association

9062 Old Annapolis Road

Columbia, Maryland 21045

Attention:  Corporate Trust Services – 2016-C1

Email: trustadministrationgroup@wellsfargo.com

cts.cmbs.bond.admin@wellsfargo.com
	 	 	 
	
        Midland Loan Services, a Division of PNC Bank, National
        Association

        10851 Mastin Street, Suite 700

        Overland Park, Kansas 66210

        Attention: Executive Vice President – Division Head

         

        Wilmington Trust, National Association

1100 North Market Street

Wilmington, Delaware 19890

Attention: CMBS Trustee DBJPM 2016-C1
	 	
        Park Bridge Lender Services LLC

        c/o Park Bridge Financial LLC

        41 Watchung Plaza, Suite 250

        Montclair, New Jersey 07042

        Attention: DBJPM 2016-C1-Surveillance Manager

        

        (with a copy sent contemporaneously via email to cmbs.notices@parkbridgefinancial.com)




 


		Re:	Pooling and Servicing Agreement (“Pooling and Servicing Agreement”)
relating to DBJPM 2016-C1 Mortgage Trust Commercial Mortgage Pass-Through Certificates



 


In accordance with Section 3.29(a)
of the Pooling and Servicing Agreement, the undersigned hereby certifies and agrees as follows:


 


1.           The
undersigned has been appointed to act as the Controlling Class Representative.


 


2.           The
undersigned is not a Borrower Party.


 


3.           If
the undersigned becomes a Borrower Party with respect to any Mortgage Loan, the undersigned agrees to and shall deliver the certification
attached as Exhibit L-1D to the Pooling and Servicing Agreement and shall deliver to the applicable parties the notices attached
as Exhibit L-1E and Exhibit L-1F to the Pooling and Servicing Agreement.


 


4.           The
undersigned hereby certifies that an executed copy of this certification in paper form has been delivered in accordance with the
notice provisions of the Pooling and


 






    	L-1-1



    	 



    

 


Servicing
Agreement to each of the addressees listed above (a) by overnight courier or (b) mailed by registered mail, postage prepaid.


 


5.           Capitalized
terms used but not defined herein shall have the respective meanings assigned thereto in the Pooling and Servicing Agreement.


 


[BY ITS CERTIFICATION HEREOF,
the undersigned shall be deemed to have caused its name to be signed hereto by its duly authorized signatory, as of the date certified.]


	 	 	 	 
	 	[The Controlling Class Representative][a Controlling Class Certificateholder]	 
	 	 	 
	 	By:	 	 
	 	 	Title:
	 	 	Company:
	 	 	Phone:




 






    	L-1-2



    	 



    

 


EXHIBIT L-2


 


FORM OF FINANCIAL MARKET PUBLISHER CERTIFICATION


 


This Certification has been prepared for provision
of information to the market data providers listed in Paragraph 1 below pursuant to the direction of the Depositor.


 


In connection with the DBJPM
2016-C1 Mortgage Trust Commercial Mortgage Pass-Through Certificates (the “Certificates”) issued pursuant to
the Pooling and Servicing Agreement, dated as of April 1, 2016 (the “Pooling and Servicing Agreement”), entered
into between Deutsche Mortgage & Asset Receiving Corporation, as depositor, Wells Fargo Bank, National Association, as master
servicer, Midland Loan Services, a Division of PNC Bank, National Association, as special servicer, Park Bridge Lender Services
LLC, as operating advisor, Park Bridge Lender Services LLC,
as asset representations reviewer, Wilmington Trust, National Association, as trustee, and Wells Fargo Bank, National Association,
as certificate administrator, paying agent and custodian, the undersigned hereby certifies and agrees as follows:


 


		1.	The undersigned is an employee or agent of BlackRock Financial Management, Inc., Bloomberg Financial
Markets, L.P., Intex Solutions, Inc., Trepp, LLC, Interactive Data Corporation, Markit LLC or Thomson Reuters Corporation, a market
data provider that has been given access to the Distribution Date Statements, CREFC® reports and supplemental notices
delivered or made available pursuant to Section 4.02 of the Pooling and Servicing Agreement to Privileged Persons on www.ctslink.com
(the “Website”) by request of the Depositor.



 


		2.	The undersigned agrees that each time it accesses the Website, the undersigned is deemed to have
recertified that the representation above remains true and correct.



 


		3.	Capitalized terms used but not defined herein shall have the respective meanings assigned thereto
in the agreement pursuant to which the Certificates were issued.



 


BY ITS CERTIFICATION HEREOF, the
undersigned has made the representations above and shall be deemed to have caused its name to be signed hereto by its duly authorized
signatory, as of the date certified.


 









    	L-2-1



    	 



    

 


EXHIBIT M


 


FORM OF NOTIFICATION FROM CUSTODIAN



 


[DATE]


 


To the Persons Listed on the attached Schedule
A


 


		Re:	Pooling
                                         and Servicing Agreement (“Pooling and Servicing Agreement”) relating
                                         to DBJPM 2016-C1 Mortgage Trust Commercial Mortgage Pass-Through Certificates	



 


Ladies and Gentlemen:


 


In accordance with Section 2.02
of the Pooling and Servicing Agreement, the undersigned, as Custodian, hereby notifies you that, based upon the review required
under the Pooling and Servicing Agreement, the Mortgage File for each Mortgage Loan set forth on the attached defect schedule contains
a document or documents which (i) has not been executed or received, (ii) has not been recorded or filed (if required), (iii) is
unrelated to the Mortgage Loans identified in the Mortgage Loan Schedule, (iv) appears not to be what they purport to be or has
been torn in any materially adverse manner or (v) is mutilated or otherwise defaced, in each case as more fully described on the
attached defect schedule.


 


The Custodian has no responsibility
to determine, and expresses no opinion with respect thereto, whether any document or opinion is legal, valid, binding or enforceable,
whether the text of any assignment or endorsement is in proper or recordable form (except, if applicable, to determine if the Trustee
is the assignee or endorsee), whether any document has been recorded in accordance with the requirements of any applicable jurisdiction,
whether a blanket assignment is permitted in any applicable jurisdiction, or whether any Person executing any document or rendering
any opinion is authorized to do so or whether any signature thereon is genuine.


 


Capitalized words and phrases
used herein shall have the respective meanings assigned to them in the above-captioned Pooling and Servicing Agreement.


	 	 	 
	 	WELLS
FARGO BANK, NATIONAL ASSOCIATION, as Custodian
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:


 



    	M-1



    	 



    




 





SCHEDULE A

TO

FORM OF NOTIFICATION FROM CUSTODIAN


 


Deutsche Mortgage & Asset Receiving Corporation

60 Wall Street

New York, New York 10005

Attention: Helaine M. Kaplan


 


Park Bridge Lender Services LLC

41 Watchung Plaza, Suite 250

Montclair, New Jersey 07042

Attention: DBJPM 2016-C1-Surveillance Manager


 


Wells Fargo Bank, National Association

Commercial Mortgage Servicing

MAC D1086

550 South Tryon Street, 14th Floor

Charlotte, North Carolina 28202

Attention: DBJPM 2016-C1 Asset Manager


 


Midland Loan Services, a Division of PNC Bank, National
Association

10851 Mastin Street, Suite 700

Overland Park, Kansas 66210

Attention: Executive Vice President – Division Head


 


Wilmington Trust, National Association

1100 North Market Street

Wilmington, Delaware 19890

Attention: CMBS Trustee DBJPM 2016-C1

Email: cmbstrustee@wilmingtontrust.com


 


Wells Fargo Bank, National Association

9062 Old Annapolis Road

Columbia, Maryland 21045

Attention: Corporate Trust Services — DBJPM 2016-C1


 


To the applicable Mortgage Loan Seller:


 


German American Capital Corporation

60 Wall Street

New York, New York 10005

Attention: Helaine M. Kaplan


 






    	M-2



    	 



    

 


Cantor Commercial Real Estate Lending, L.P.

110 East 59th Street

New York, New York 10022

Attention: Anthony Orso


 


Ladder Capital Finance LLC

345 Park Avenue, 8th Floor

New York, New York 10154

Attention: Pamela McCormack

Email: pamela.mccormack@laddercapital.com


 


Jefferies LoanCore LLC

c/o LoanCore Capital

80 Field Point Road

Greenwich, Connecticut

Attention: Dan Bennett

Fax No.: (203) 861-6006


 



    	M-3



    	 



    












DEFECT SCHEDULE

TO FORM OF NOTIFICATION FROM CUSTODIAN








 






    	M-4



    	 



    

 


EXHIBIT N-1


 


FORM OF CLOSING DATE CUSTODIAN CERTIFICATION



[Date]


 


[                 ]

[                 ]

[                 ]

Attention: [                 ]


 


		Re:	Pooling
                                         and Servicing Agreement (“Pooling and Servicing Agreement”) relating
                                         to DBJPM 2016-C1 Mortgage Trust Commercial Mortgage Pass-Through Certificates	



 


In accordance with Section 2.02
of the Pooling and Servicing Agreement, the Custodian hereby certifies that, with respect to each Mortgage Loan listed on the Mortgage
Loan Schedule attached hereto as Schedule A, (a) the Custodian has in its possession the documents specified in clause (i) of the
definition of “Mortgage File”, (b) the foregoing documents delivered or caused to be delivered by the Mortgage Loan
Sellers as described in clause (a) above have been reviewed by it or by a Custodian on its behalf and appear regular on their
face, appear to be executed and purports to relate to such Mortgage Loan, except as identified on the schedule attached hereto,
and (c) each of the documents specified in Section 2.01(a)(ii), 2.01(a)(vii), 2.01(a)(xi) and 2.01(a)(xix) of the Pooling and Servicing
Agreement have been received, have been executed, appear to be what they purport to be, purport to be recorded or filed (as applicable)
and have not been torn in any materially adverse manner or mutilated or otherwise defaced, and that such documents relate to the
Mortgage Loans identified in the Mortgage Loan Schedule.


 


Capitalized terms used but not
defined herein shall the respective meanings set forth in the Pooling and Servicing Agreement.





	 	 	 
	 	WELLS
FARGO BANK, NATIONAL ASSOCIATION, as Custodian
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:








 



    	N-1-1



    	 



    




 


SCHEDULE A 

TO CLOSING DATE CUSTODIAN CERTIFICATION


 


MORTGAGE LOAN SCHEDULE


 









    	N-1-2



    	 



    

 


EXHIBIT N-2


 


FORM OF POST-CLOSING CUSTODIAN CERTIFICATION


 


[Date]


 


[                 ]

[                 ]

[                 ]

Attention: [                 ]


 


		Re:	Pooling
                                         and Servicing Agreement (“Pooling and Servicing Agreement”) relating
                                         to DBJPM 2016-C1 Mortgage Trust Commercial Mortgage Pass-Through Certificates	



 


In accordance with Section 2.02
of the Pooling and Servicing Agreement, the Custodian hereby certifies, subject to the terms of the Pooling and Servicing Agreement,
that, with respect to each Mortgage Loan listed on the Mortgage Loan Schedule attached hereto as Schedule A, all documents (other
than documents referred to in clauses (xix) and (xx) of Section 2.01(a) of the Pooling and Servicing Agreement and the documents
referred to in clauses (iii), (iv)(B), (v)(B) and (viii)(B) of Section 2.01(a) of the Pooling and Servicing Agreement and the assignments
of financing statements referred to in clause (xiii) of Section 2.01(a) of the Pooling and Servicing Agreement) referred to in
Section 2.01(a) of the Pooling and Servicing Agreement (in the case of the documents referred to in Section 2.01(a)(iv), (vi),
(viii), (ix), (x), (xi), (xii) through (xvi) and (xviii) through (xx) of the Pooling and Servicing Agreement, as identified to
it in writing as a document required to be delivered by the related Mortgage Loan Seller) and any original recorded documents included
in the delivery of a Mortgage File have been received, have been executed, appear to be what they purport to be, purport to be
recorded or filed (as applicable) and have not been torn in any materially adverse manner or mutilated or otherwise defaced, and
that such documents relate to the Mortgage Loans identified in the Mortgage Loan Schedule, in each case, except as set forth on
the attached schedule hereto.


 


Capitalized terms used but not
defined herein shall the respective meanings set forth in the Pooling and Servicing Agreement.


 





	 	 	 
	 	WELLS
FARGO BANK, NATIONAL ASSOCIATION, as Custodian
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:


 



    	N-2-1



    	 



    




 





SCHEDULE A 

TO POST-CLOSING CUSTODIAN CERTIFICATION


 


MORTGAGE LOAN SCHEDULE


 






    	N-2-2



    	 



    

 





EXHIBIT O


 


FORM OF TRUSTEE BACKUP CERTIFICATION


 


DBJPM 2016-C1 Mortgage Trust (The “Trust”)


 


The undersigned, __________,
a __________ of Wilmington Trust, National Association, on behalf of Wilmington Trust, National Association, as trustee (the “Trustee”),
under that certain Pooling and Servicing Agreement, dated as of April 1, 2016 (the “Pooling and Servicing Agreement”),
entered into among Deutsche Mortgage & Asset Receiving Corporation, as depositor, Wells Fargo Bank, National Association, as
master servicer, Midland Loan Services, a Division of PNC Bank, National Association, as special servicer, Park Bridge Lender Services
LLC, as operating advisor, Park Bridge Lender Services
LLC, as asset representations reviewer, Wilmington Trust, National Association, as trustee, and Wells Fargo Bank, National
Association, as certificate administrator (the “Certificate Administrator”) , paying agent and custodian, certifies
to [       ], Deutsche Mortgage & Asset Receiving Corporation and its officers, directors
and affiliates, to the extent that the following information is within the Trustee’s normal area of responsibilities and
duties under the Pooling and Servicing Agreement, and with the knowledge and intent that they will rely upon this certification,
that:


 


		1.	I am responsible for reviewing the activities performed by the Trustee and based on my knowledge
and the compliance reviews conducted in preparing the Trustee compliance statements required for inclusion on Form 10-K pursuant
to Item 1123 of Regulation AB, and except as disclosed to the Certificate Administrator and to the Depositor, the Trustee has fulfilled
its obligations in all material respects under the Pooling and Servicing Agreement; and



 


		2.	The report on assessment of compliance with servicing criteria applicable to the Trustee for asset-backed
securities with respect to the Trustee or any Servicing Function Participant retained by the Trustee and related attestation report
on assessment of compliance with servicing criteria applicable to it required to be included in the annual report on Form 10-K
for the Relevant Period in accordance with Item 1122 of Regulation AB and Exchange Act Rules 13a-18 and 15d-18 has been provided
to the Depositor and to the Certificate Administrator for inclusion as an exhibit to such Form 10-K. Any material instances of
noncompliance described in such reports have been provided to the Certificate Administrator and the Depositor for disclosure in
such annual report on Form 10-K.



 


Capitalized terms used but not
defined herein have the meanings set forth in the Pooling and Servicing Agreement.


 


Date:_____________________





	 	 	 
	 	WILMINGTON TRUST, NATIONAL
ASSOCIATION



 



    	O-1



    	 



    




 


	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:


 



    	O-2



    	 



    

 





EXHIBIT P


 


FORM OF CUSTODIAN BACKUP CERTIFICATION


 


[NAME OF ISSUING ENTITY] (The “Trust”)


 


The undersigned, __________,
a __________ of Wells Fargo Bank, National Association, on behalf of Wells Fargo Bank, National Association, as custodian (in such
capacity, the “Custodian”), under that certain Pooling and Servicing Agreement, dated as of April 1, 2016 (the
“Pooling and Servicing Agreement”), entered into among Deutsche Mortgage & Asset Receiving Corporation,
as depositor, Wells Fargo Bank, National Association, as master servicer, Midland Loan Services, a Division of PNC Bank, National
Association, as special servicer, Park Bridge Lender Services LLC, as operating
advisor, Park Bridge Lender Services LLC, as asset representations reviewer, Wilmington
Trust, National Association, as trustee, and Wells Fargo Bank, National Association, as certificate administrator, paying agent
and custodian (in such capacity as certificate administrator, the “Certificate Administrator”), certifies to
[       ], Deutsche Mortgage & Asset Receiving Corporation and its officers, directors
and affiliates, to the extent that the following information is within the Custodian’s normal area of responsibilities and
duties under the Pooling and Servicing Agreement, and with the knowledge and intent that they will rely upon this certification,
that:


 


		1.	I am responsible for reviewing the activities performed by the Custodian and based on my knowledge
and the compliance reviews conducted in preparing the Custodian compliance statements required for inclusion on Form 10-K pursuant
to Item 1123 of Regulation AB, and except as disclosed to the Certificate Administrator and to the Depositor, the Custodian has
fulfilled its obligations in all material respects under the Pooling and Servicing Agreement; and



 


		2.	The report on assessment of compliance with servicing criteria applicable to the Custodian for
asset-backed securities with respect to the Custodian or any Servicing Function Participant retained by the Custodian and related
attestation report on assessment of compliance with servicing criteria applicable to it required to be included in the annual report
on Form 10-K for the Relevant Period in accordance with Item 1122 of Regulation AB and Exchange Act Rules 13a-18 and 15d-18 has
been provided to the Depositor and to the Certificate Administrator for inclusion as an exhibit to such Form 10-K. Any material
instances of noncompliance described in such reports have been provided to the Certificate Administrator and the Depositor for
disclosure in such annual report on Form 10-K.



 


Capitalized terms used but not
defined herein have the meanings set forth in the Pooling and Servicing Agreement.


 






    	P-1



    	 



    

 


Date: ____________________





	 	 	 
	 	WELLS
FARGO BANK, NATIONAL ASSOCIATION
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:


 



    	P-2



    	 



    

 





EXHIBIT Q


 


FORM OF CERTIFICATE ADMINISTRATOR BACKUP CERTIFICATION


 


DBJPM 2016-C1 Mortgage Trust (The “Trust”)


 


The undersigned, __________,
a __________ of Wells Fargo Bank, National Association, on behalf of Wells Fargo Bank, National Association, as certificate administrator,
(in such capacity, the “Certificate Administrator”), paying agent and custodian, under that certain Pooling
and Servicing Agreement, dated as of April 1, 2016 (the “Pooling and Servicing Agreement”), entered into among
Deutsche Mortgage & Asset Receiving Corporation, as depositor (the “Depositor”), Wells Fargo Bank, National
Association, as master servicer (in such capacity, the “Master Servicer”), Midland Loan Services, a Division
of PNC Bank, National Association, as special servicer (the “Special Servicer”), Park Bridge Lender Services
LLC, as operating advisor, Park Bridge Lender Services LLC, as asset representations
reviewer, Wilmington Trust, National Association, as trustee (in such capacity, the “Trustee”), and Wells Fargo
Bank, National Association, as certificate administrator, paying agent and custodian, certifies to [       ],
Deutsche Mortgage & Asset Receiving Corporation and its officers, directors and affiliates, to the extent that the following
information is within the Certificate Administrator’s normal area of responsibilities and duties under the Pooling and Servicing
Agreement, and with the knowledge and intent that they will rely upon this certification, that:


 


		1.	I have reviewed the annual report on Form 10-K for the fiscal year [20___] (the “Annual
Report”), and all reports on Form 10-D and Form 8-K to be filed in respect of periods included in the year covered by
the Annual Report (collectively with the Annual Report, the “Reports”), of the Trust;



 


		2.	To my knowledge, the Reports taken as a whole, do not contain any untrue statement of a material
fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by the Annual Report;



 


		3.	To my knowledge, the distribution information required to be provided by the Certificate Administrator
under the Pooling and Servicing Agreement for inclusion in the Reports is included in the Reports;



 


		4.	I am responsible for reviewing the activities performed by the Certificate Administrator under
the Pooling and Servicing Agreement and based on my knowledge and the compliance reviews conducted in preparing the Certificate
Administrator compliance statements required for inclusion on Form 10-K pursuant to Item 1123 of Regulation AB, and except as disclosed
on any Reports, the Certificate Administrator has fulfilled its obligations in all material respects under the Pooling and Servicing
Agreement; and



 


		5.	The report on assessment of compliance with servicing criteria applicable to the Certificate Administrator
for asset-backed securities with respect to the Certificate Administrator or any Servicing Function Participant retained by the
Certificate Administrator and related attestation report on assessment of compliance with servicing 



 



    	Q-1



    	 



    




 





			criteria applicable to it required
to be included in the annual report on Form 10-K for the Relevant Period in accordance with Item 1122 of Regulation AB and Exchange
Act Rules 13a-18 and 15d-18 has been provided to the Depositor for inclusion as an exhibit to such Form 10-K. Any material instances
of noncompliance described in such reports have been provided to the Depositor for disclosure in such annual report on Form 10-K.


 


In giving the certifications
above, the Certificate Administrator has reasonably relied on information provided to it by the following unaffiliated persons:
the Master Servicer, the Special Servicer and the Depositor.


 


Capitalized terms used but not
defined herein have the meanings set forth in the Pooling and Servicing Agreement.


 


 Date: ____________________


	 	 	 
	 	WELLS
FARGO BANK, NATIONAL ASSOCIATION
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:







  






    	Q-2



    	 



    

 


EXHIBIT R


 


FORM OF OPERATING ADVISOR BACKUP CERTIFICATION


 


DBJPM 2016-C1 Mortgage Trust (the “Trust”)


 


		1.	Based on my knowledge, with respect to the period ending [December 31, 20__] (the “Relevant
Period”), all information required to be submitted by the Operating Advisor to the Master Servicer, the Depositor, Trustee
or Certificate Administrator, as applicable, pursuant to the Pooling and Servicing Agreement for inclusion in the annual report
on Form 10-K for the Relevant Period and inclusion in all reports on Form 10-D or Form 8-K (the “Operating Advisor Reports”)
have been submitted by the Operating Advisor to the Master Servicer, the Depositor, the Trustee or the Certificate Administrator,
as applicable, for inclusion in these reports;



 


		2.	Based on my knowledge, the operating advisor information contained in the Operating Advisor Reports,
taken as a whole, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the
statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period
covered by these reports;



 


		3.	The accountants that are to deliver the annual attestation report on assessment of compliance with
the Relevant Servicing Criteria in respect of the Operating Advisor with respect to the Trust’s fiscal year ________ have
been provided all information relating to the Operating Advisor’s assessment of compliance with the Relevant Servicing Criteria,
in order to enable them to conduct a review in compliance with the standards for attestation engagements issued or adopted by the
PCAOB; and



 


		4.	The report on assessment of compliance with servicing criteria applicable to the Operating Advisor
for asset-backed securities with respect to the Operating Advisor or any Servicing Function Participant retained by the Operating
Advisor and related attestation report on assessment of compliance with servicing criteria applicable to it required to be included
in the annual report on Form 10-K for the Relevant Period in accordance with Item 1122 of Regulation AB and Exchange Act Rules
13a-18 and 15d-18 has been provided to the Depositor and to the Certificate Administrator for inclusion as an exhibit to such Form
10-K. Any material instances of noncompliance described in such reports have been provided to the Certificate Administrator and
the Depositor for disclosure in such annual report on Form 10-K.



 






    	R-1



    	 



    

 


Capitalized terms used but not defined herein have
the meanings set forth in the Pooling and Servicing Agreement.


 





Date: ____________________





	 	 	 	 
	 	PARK
BRIDGE LENDER SERVICES LLC
	 	 	 
	 	By:	 	 
	 	Name:
	 	Title:


 



    	R-2



    	 



    





 





EXHIBIT S


 


[RESERVED]


 









    	S-1



    	 



    

 


EXHIBIT T


 


FORM OF MASTER SERVICER BACKUP CERTIFICATION


 


DBJPM 2016-C1 Mortgage Trust
(the “Trust”)


 


I, [identify the certifying individual],
a [_______________] of Wells Fargo Bank, National Association, as master servicer (in such capacity, the “Master Servicer”)
under that certain Pooling and Servicing Agreement, dated as of April 1, 2016 (the “Pooling and Servicing Agreement”),
entered into among Deutsche Mortgage & Asset Receiving Corporation, as depositor, the Master Servicer, Midland Loan Services,
a Division of PNC Bank, National Association, as special servicer (the “Special Servicer”), Park Bridge Lender
Services LLC, as operating advisor, Park Bridge Lender Services
LLC, as asset representations reviewer, Wilmington Trust, National Association, as trustee, and Wells Fargo Bank, National
Association, as certificate administrator (in such capacity, the “Certificate Administrator”), paying agent
and custodian, on behalf of the Master Servicer, certify to [Name of Certifying Person(s) for Sarbanes-Oxley Certification], the
Depositor, and its officers, directors and affiliates, and with the knowledge and intent that they will rely upon this certification,
that:


 


		1.	Based on my knowledge, with respect to the period ending [December 31, 20__] (the “Relevant
Period”), and assuming the accuracy of the statements required to be made by the Special Servicer, [each applicable Other
Servicer and each applicable Other Special Servicer] in the backup certificate[s] delivered by the Special Servicer, [each applicable
Other Servicer and each applicable Other Special Servicer] relating to the Relevant Period, all servicing information and all reports
required to be submitted by the Master Servicer to the Certificate Administrator pursuant to Sections 3.13(a) and 3.13(c) of the
Pooling and Servicing Agreement for inclusion in the annual report on Form 10-K for the Relevant Period and inclusion in all reports
on Form 10-D or Form 8-K (the “Servicer Reports”) have been submitted by the Master Servicer to the Certificate
Administrator for inclusion in these reports;



 


		2.	Based on my knowledge, and assuming the accuracy of the statements required to be made by the Special
Servicer, [each applicable Other Servicer and each applicable Other Special Servicer] in the backup certificate[s] delivered by
the Special Servicer, [each applicable Other Servicer and each applicable Other Special Servicer] relating to the Relevant Period,
the master servicing information contained in the Servicer Reports, taken as a whole, does not contain any untrue statement of
a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which
such statements were made, not misleading with respect to the period covered by these reports;



 


		3.	I am, or a servicing officer under my supervision is, responsible for reviewing the activities
performed by the Master Servicer under the Pooling and Servicing Agreement and based upon my knowledge and the annual compliance
reviews conducted in preparing the servicer compliance statements required for inclusion on Form 10-K pursuant to Item 1123 of
Regulation AB with respect to the Master Servicer, and except 



 






    	T-1



    	 



    

 


			as disclosed in the compliance certificate delivered by the Master
Servicer under Section 10.11 of the Pooling and Servicing Agreement, the Master Servicer has fulfilled its obligations under the
Pooling and Servicing Agreement in all material respects in the year to which such report applies;





 


		4.	The accountants that are to deliver the annual attestation report on assessment of compliance with
the Relevant Servicing Criteria in respect of the Master Servicer with respect to the Trust’s fiscal year _____ have been
provided all information relating to the Master Servicer’s assessment of compliance with the Relevant Servicing Criteria
in order to enable them to conduct a review in compliance with the standards for attestation engagements issued or adopted by the
PCAOB; and



 


		5.	The report on assessment of compliance with servicing criteria applicable to the Master Servicer
for asset-backed securities with respect to the Master Servicer or any Servicing Function Participant retained by the Master Servicer
and related attestation report on assessment of compliance with servicing criteria applicable to it required to be included in
the annual report on Form 10-K for the Relevant Period in accordance with Item 1122 of Regulation AB and Exchange Act Rules 13a-18
and 15d-18 has been provided to the Depositor and to the Certificate Administrator for inclusion as an exhibit to such Form 10-K.
Any material instances of noncompliance described in such reports have been provided to the Certificate Administrator and the Depositor
for disclosure in such annual report on Form 10-K.



 


In giving the certification above,
I have reasonably relied on and make no certification as to information provided to me by the following unaffiliated parties: [name(s)
of servicer, sub-servicer, co-servicer, Other Servicer, Other Special Servicer or Other Trustee not retained by the master servicer
giving certification] and, notwithstanding the foregoing certifications, neither I nor Master Servicer makes any certification
under the foregoing clauses (2) and (3) with respect to the information in the Servicing Reports that is in turn dependent upon
information provided by the Special Servicer under the Pooling and Servicing Agreement or by any Other Servicer, Other Special
Servicer or Other Trustee.


 


Capitalized terms used but not
defined herein have the meanings set forth in the Pooling and Servicing Agreement.


 


Date: ____________________





	 	 	 
	 	WELLS
FARGO BANK, NATIONAL ASSOCIATION
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:


 



    	T-2



    	 



    







 


EXHIBIT U


 


FORM OF SPECIAL SERVICER BACKUP CERTIFICATION


 


DBJPM 2016-C1 Mortgage Trust (the “Trust”)


 


I, [identify the certifying individual],
a [_______________ ] of Midland Loan Services, a Division of PNC Bank, National Association,
as special servicer (the “Special Servicer”) under that certain Pooling and Servicing Agreement dated as of
April 1, 2016 (the “Pooling and Servicing Agreement”), entered into between Deutsche Mortgage & Asset Receiving
Corporation, as depositor, Park Bridge Lender Services LLC, as operating advisor,
Park Bridge Lender Services LLC, as asset representations reviewer, Wilmington Trust,
National Association, as trustee, Wells Fargo Bank, National Association, as certificate administrator (in such capacity, the “Certificate
Administrator”), paying agent and custodian, and Wells Fargo Bank, National Association, as master servicer (in such
capacity, the “Master Servicer”) and the Special Servicer, on behalf of the Special Servicer, certify to [Name
of Certifying Person(s) for Sarbanes-Oxley Certification], the Depositor, and its officers, directors and affiliates, and with
the knowledge and intent that they will rely upon this certification, that:


 


		1.	Based on my knowledge, with respect to the period ending [December 31, 20__] (the “Relevant
Period”), all servicing information and all required reports required to be submitted by the Special Servicer to the
Master Servicer, the Depositor, Trustee or Certificate Administrator, as applicable, pursuant to the Pooling and Servicing Agreement
for inclusion in the annual report on Form 10-K for the Relevant Period and inclusion in all reports on Form 10-D or Form 8-K (the
“Special Servicer Reports”) have been submitted by the Special Servicer to the Master Servicer, the Depositor,
the Trustee or the Certificate Administrator, as applicable, for inclusion in these reports;



 


		2.	Based on my knowledge, the special servicing information contained in the Special Servicer Reports,
taken as a whole, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the
statements made therein, in light of the circumstances under which such statements were made, not misleading with respect to the
period covered by these reports;



 


		3.	I am, or an officer under my supervision is, responsible for reviewing the activities performed
by the Special Servicer under the Pooling and Servicing Agreement and based upon my knowledge and the annual compliance reviews
conducted in preparing the servicer compliance statements required in this report under Item 1123 of Regulation AB with respect
to the Special Servicer, and except as disclosed in the compliance certificate delivered by the Special Servicer under Section
10.11 of the Pooling and Servicing Agreement, the Special Servicer has fulfilled its obligations under the Pooling and Servicing
Agreement in all material respects in the year to which such report applies;



 


		4.	The accountants that are to deliver the annual attestation report on assessment of compliance with
the Relevant Servicing Criteria in respect of the Special Servicer with respect to the Trust’s fiscal year _____ have been
provided all information relating to the Special Servicer assessment of compliance with the Relevant Servicing Criteria, in order 



 



    	U-1



    	 



    




 


to
enable them to conduct a review in compliance with the standards for attestation engagements issued or adopted by the PCAOB; and


 


		5.	The report on assessment of compliance with servicing criteria applicable to the Special Servicer
for asset-backed securities with respect to the Special Servicer or any Servicing Function Participant retained by the Special
Servicer and related attestation report on assessment of compliance with servicing criteria applicable to it required to be included
in the annual report on Form 10-K for the Relevant Period in accordance with Item 1122 of Regulation AB and Exchange Act Rules
13a-18 and 15d-18 has been provided to the Depositor and to the Certificate Administrator for inclusion as an exhibit to such Form
10-K. Any material instances of noncompliance described in such reports have been provided to the Certificate Administrator and
the Depositor for disclosure in such annual report on Form 10-K.



 


Capitalized terms used but not
defined herein have the meanings set forth in the Pooling and Servicing Agreement.


 


Date: ____________________





	 	 	 
	 	MIDLAND
LOAN SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:


 



    	U-2



    	 



    




 


EXHIBIT V


 


FORM OF SUB-SERVICER BACKUP CERTIFICATION


 


DBJPM 2016-C1 Mortgage Trust
(the “Trust”)


 


As contemplated by Section 10.08 of that certain
Pooling and Servicing Agreement dated as of April 1, 2016 (the “Pooling and Servicing Agreement”), entered into
between Deutsche Mortgage & Asset Receiving Corporation, as depositor, Wells Fargo Bank, National Association, as master servicer
(in such capacity, the “Master Servicer”), Midland Loan Services, a Division of PNC Bank, National Association,
as special servicer (the “Special Servicer”), Park Bridge Lender Services
LLC, as operating advisor, Park Bridge Lender Services LLC, as asset representations
reviewer, Wilmington Trust, National Association, as trustee, and Wells Fargo Bank, National Association, as certificate administrator
(in such capacity, the “Certificate Administrator”), paying agent and custodian, [identify the certifying individual],
a                     
of                     ,
a                     
[corporation] (the “Sub-Servicer”) as Sub-Servicer in connection with the sub-servicing of one or more Mortgage
Loans and/or Serviced Companion Loan under the Pooling and Servicing Agreement, on behalf of the Sub-Servicer, certify to [Name
of Each Certifying Person for Sarbanes-Oxley Certification], the Depositor, the Master Servicer and their officers, directors and
affiliates, and with the knowledge and intent that they will rely upon this certification, that:


 


		1.	I have reviewed the Servicer Reports and Sub-Servicer Reports (each as defined below) relating
to the Mortgage Loans and/or Serviced Companion Loan delivered by the Sub-Servicer to the Master Servicer, pursuant to the Sub-Servicing
Agreement dated [___________], 20[__] by and between the Sub-Servicer and the Master Servicer (the “Sub-Servicing Agreement”);



 


		2.	Based on my knowledge, with respect to the period ending [December 31, 20__] (the “Relevant
Period”), all servicing information and all reports required to be submitted by the Sub-Servicer to the Certificate Administrator
pursuant to the Pooling and Servicing Agreement (the “Servicer Reports”) for inclusion in the annual report
on Form 10-K for the Relevant Period and inclusion in all reports on Form 10-D or Form 8-K have been submitted by the Sub-Servicer
to the Certificate Administrator for inclusion in these reports;



 


		3.	Based on my knowledge, with respect to the Relevant Period, all servicing information and all reports
required to be submitted by the Sub-Servicer to the Master Servicer pursuant to the Sub-Servicing Agreement (the “Sub-Servicer
Reports”) have been submitted by the Sub-Servicer to the Master Servicer;



 


		4.	Based on my knowledge, the sub-servicer information contained in the Servicer Reports and Sub-Servicer
Reports, taken as a whole, does not contain any untrue statement of a material fact or omit to state a material fact necessary
to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to
the period covered by these reports;



 






    	V-1



    	 



    

 


		5.	Based upon my knowledge and the annual compliance review performed as required under Section [__]
of the Sub-Servicing Agreement, and except as disclosed in the compliance certificate delivered pursuant to Section [__] of the
Sub-Servicing Agreement, the Sub-Servicer has fulfilled its obligations under the Sub-Servicing Agreement in all material respects;



 


		6.	[I am, or a servicing officer under my supervision is, responsible for reviewing the activities
performed by the Sub-Servicer under the Sub-Servicing Servicing Agreement and based upon my knowledge and the annual compliance
reviews conducted in preparing the servicer compliance statements for inclusion on Form 10-K pursuant Item 1123 of Regulation AB
with respect to the Sub-Servicer, and except as disclosed in the compliance certificate delivered by the Sub-Servicer under Section
[__] of the Sub-Servicing Agreement, the Sub-Servicer has fulfilled its obligations under the Sub-Servicing Agreement in all material
respects in the year which such report applies];



 


		7.	The accountants that are to deliver the annual attestation report on assessment of compliance with
the Relevant Servicing Criteria in respect of the Sub-Servicer with respect to the Trust’s fiscal year _____ have been provided
all information relating to the Sub-Servicer’s assessment of compliance with the Relevant Servicing Criteria, in order to
enable them to conduct a review in compliance with the standards for attestation engagements issued or adopted by the PCAOB; and



 


		8.	The report on assessment of compliance with servicing criteria applicable to the Sub-Servicer for
asset-backed securities with respect to the Sub-Servicer or any Servicing Function Participant retained by the Sub-Servicer and
related attestation report on assessment of compliance with servicing criteria applicable to it required to be included in the
annual report on Form 10-K for the Relevant Period in accordance with Item 1122 of Regulation AB and Exchange Act Rules 13a-18
and 15d-18 has been provided to the Depositor and to the Certificate Administrator for inclusion as an exhibit to such Form 10-K.
Any material instances of noncompliance described in such reports have been provided to the Certificate Administrator and the Depositor
for disclosure in such annual report on Form 10-K.



 


Capitalized terms used but not defined herein have
the meanings set forth in the Sub-Servicing Agreement, or if not defined in the Sub-Servicing Agreement, then the meanings set
forth in the Pooling and Servicing Agreement.


 





Date: ____________________





	 	 	 
	 	[Insert
NAME OF SUB-SERVICER]
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:


 



    	V-2



    	 



    





 


EXHIBIT
W


 


FORM OF SARBANES-OXLEY CERTIFICATION


 


I, [identify the certifying individual],
certify that:


 


1.           I have reviewed
this report on Form 10-K and all reports on Form 10-D required to be filed in respect of the period covered by this report on Form
10-K of the DBJPM 2016-C1 Mortgage Trust (the “Exchange Act periodic reports”);


 


2.           Based on my
knowledge, the Exchange Act periodic reports, taken as a whole, do not contain any untrue statement of a material fact or omit
to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were
made, not misleading with respect to the period covered by this report;


 


3.           Based on my
knowledge, all of the distribution, servicing and other information required to be provided under Form 10-D for the period covered
by this report is included in the Exchange Act periodic reports;


 


4.           Based on my
knowledge and the servicer compliance statements required in this report under Item 1123 of Regulation AB, and except as disclosed
in the Exchange Act periodic reports, the servicers have fulfilled their obligations under the servicing agreements in all material
respects; and


 


5.           All of the
reports on assessment of compliance with servicing criteria for asset-backed securities and their related attestation reports on
assessment of compliance with servicing criteria for asset-backed securities required to be included in this report in accordance
with Item 1122 of Regulation AB and Exchange Act Rules 13a-18 and 15d-18 have been included as an exhibit to this report, except
as otherwise disclosed in this report. Any material instances of noncompliance described in such reports have been disclosed in
this report on Form 10-K.


 






    	W-1



    	 



    

 


In giving the certifications above, I have reasonably
relied on information provided to me by the following unaffiliated parties: Wells Fargo Bank, National Association, Midland Loan
Services, a Division of PNC Bank, National Association, Wilmington Trust, National Association, Park Bridge Lender Services LLC
and [list any sub-servicers].


 





Dated: ____________________


 





	 		 
	 	 	[_____]
	 	 	(Senior officer in charge of securitization of the depositor)


 



    	W-2



    	 



    




 


EXHIBIT X


 


MORTGAGE LOAN SELLER SUB-SERVICERS 


 


	Mortgage Loan	Sub-Servicer Name
	Mableton Village Apartments	Berkadia Commercial Mortgage LLC
	Northridge Summit Riceland Pavilion	NorthMarq Capital, LLC
	Zanker Road	NRC Group, Inc.
	Renaissance Providence Downtown Hotel	Holliday Fenoglio Fowler, L.P.



 






    	X-1



    	 



    

 


EXHIBIT Y


 


MORTGAGE LOANS WITH EARNOUT/HOLDBACK PROVISIONS



 


	None



 






    	Y-1



    	 



    

 




EXHIBIT Z


 


FORM OF NRSRO CERTIFICATION


 


[Date]


 


Wells Fargo Bank, National Association


9062 Old Annapolis Road


Columbia, Maryland 21045


Attention: DBJPM 2016-C1 Mortgage Trust


 


		Re:	DBJPM 2016-C1
                                         Mortgage Trust Commercial Mortgage Pass-Through Certificates



 


In accordance with the Pooling
and Servicing Agreement, dated as of April 1, 2016 (the “Agreement”), and executed in connection with the above-referenced
transaction, with respect to the certificates issued thereunder (the “Certificates”), the undersigned hereby
certifies as follows:


 


1.           (a)         The undersigned is a Rating
Agency; or


 


(b)         The undersigned is a nationally
recognized statistical rating organization and either (x) has provided the Depositor with the appropriate certifications under
Exchange Act Rule 17g-5(e), had access to the Depositor’s 17g-5 website prior to the Closing Date, is requesting access pursuant
to the Agreement to certain information (the “Information”) on such 17g-5 website pursuant to the provisions
of the Agreement, and agrees that any confidentiality agreement applicable to the undersigned with respect to the information obtained
from the Depositor’s 17g-5 website prior to the Closing Date shall also be applicable to information obtained from the 17g-5
Information Provider’s Website (including without limitation, to any information received by the Depositor for posting on
the 17g-5 Information Provider’s Website), or (y), if the undersigned did not have access to the Depositor’s 17g-5
website prior to the Closing Date, it hereby agrees that it shall be bound by the provisions of the confidentiality agreement attached
hereto as Annex A which shall be applicable to it with respect to any information obtained from the 17g-5 Information Provider’s
Website, including any information that is obtained from the section of the 17g-5 Information Provider’s Website that hosts
the Depositor’s 17g-5 website after the Closing Date.


 


2.           The undersigned either
(a) has not accessed information pursuant to Rule 17g–5(a)(3) ten (10) or more times during the most recently ended calendar
year, or (b) has determined and maintained credit ratings for at least 10% of the issued securities and money market instruments
for which it accessed information pursuant to Rule 17g–5(a)(3)(iii) in the calendar year prior to the year covered by the
SEC Certification, if it accessed such information for 10 or more issued securities or money market instruments.


 



    	Z-1



    	 



    




 


3.           The undersigned agrees
that each time it accesses the 17g-5 Information Provider’s Website, it is deemed to have recertified that the representations
herein contained remain true and correct.


 


Capitalized terms used but
not defined herein shall have the respective meanings assigned thereto in the Agreement.


 


BY ITS CERTIFICATION HEREOF, the
undersigned has made the representations above and shall be deemed to have caused its name to be signed hereto by its duly authorized
signatory, as of the date certified.


 









    	Z-2



    	 



    

 


ANNEX
A


 


CONFIDENTIALITY AGREEMENT


 


This Confidentiality Agreement (the “Confidentiality
Agreement”) is made in connection with [________] (together with its affiliates, “[_______]”, the
“Furnishing Entities” and each a “Furnishing Entity”) furnishing certain financial, operational,
structural and other information relating to the issuance of the DBJPM 2016-C1 Mortgage Trust Commercial Mortgage Pass-Through
Certificates (the “Certificates”) pursuant to the Pooling and Servicing Agreement, dated as of April 1, 2016
(the “Pooling and Servicing Agreement”), by and among Deutsche Mortgage & Asset Receiving Corporation, as
depositor, Wells Fargo Bank, National Association, as master servicer, Midland Loan Services, a Division of PNC Bank, National
Association, as special servicer, Wilmington Trust, National Association, as trustee, Wells Fargo Bank, National Association, as
certificate administrator, paying agent and custodian, Park Bridge Lender Services LLC, as operating advisor, and Park Bridge Lender
Services LLC, as asset representations reviewer, and the assets underlying or referenced by the Certificates, including the identity
of, and financial information with respect to borrowers, sponsors, guarantors, managers and lessees with respect to such assets
(together, the “Collateral”) to you (the “NRSRO”) through the website of Wells Fargo Bank,
National Association, as 17g-5 Information Provider under the Pooling and Servicing Agreement, including the [section of the 17g-5
Information Provider’s website that hosts the Depositor’s 17g-5 website after the Closing Date (as defined in the Pooling
and Servicing Agreement]. Information provided by each Furnishing Entity is labeled as provided by the specific Furnishing Entity.


 


		1.	Definition of Confidential Information. For purposes of this Confidentiality Agreement, the
term “Confidential Information” shall include the following information (irrespective of its source or form
of communication, including information obtained by you through access to this site) that may be furnished to you by or on behalf
of a Furnishing Entity in connection with the issuance or monitoring of a rating with respect to the Certificates: (x) all
data, reports, interpretations, forecasts, records, agreements, legal documents and other information (such information, the “Evaluation
Material”) and (y)  any of the terms, conditions or other facts with respect to the transactions contemplated by
the Pooling and Servicing Agreement, including the status thereof; provided, however, that the term Confidential
Information shall not include information which:



 


		-	was or becomes generally available to the public (including through filing with the Securities and
Exchange Commission or disclosure in an offering document) other than as a result of a disclosure by you or a NRSRO Representative
(as defined in Section 2(c)(i) below) in violation of this Confidentiality Agreement;



 


		-	was or is lawfully obtained by you from a source other than a Furnishing Entity or its representatives
that (i) is reasonably believed by you to be under no obligation to maintain the information as confidential and (ii) provides
it to you without any obligation to maintain the information as confidential; or



 



    	Z-3



    	 



    




 


		-	is independently developed by the NRSRO without reference to any Confidential Information.



 


		2.	Information to Be Held in Confidence.



 


		(a)	You will use the Confidential Information solely for the purpose of determining or monitoring a credit
rating on the Certificates and, to the extent that any information used is derived from but does not reveal any Confidential Information,
for benchmarking, modeling or research purposes (the “Intended Purpose”).



 


		(b)	You acknowledge that you are aware that the United States and state securities laws impose restrictions
on trading in securities when in possession of material, non-public information and that the NRSRO will advise (through policy
manuals or otherwise) each NRSRO Representative who is informed of the matters that are the subject of this Confidentiality Agreement
to that effect.



 


		(c)	You will treat the Confidential Information as private and confidential. Subject to Section 4, without
the prior written consent of the applicable Furnishing Entity, you will not disclose to any person any Confidential Information,
whether such Confidential Information was furnished to you before, on or after the date of this Confidentiality Agreement. Notwithstanding
the foregoing, you may:



 


		(i)	disclose the Confidential Information to any of the NRSRO’s affiliates, directors, officers,
employees, legal representatives, agents and advisors (each, a “NRSRO Representative”) who, in the reasonable
judgment of the NRSRO, need to know such Confidential Information in connection with the Intended Purpose; provided, that,
prior to disclosure of the Confidential Information to a NRSRO Representative, the NRSRO shall have taken reasonable precautions
to ensure, and shall be satisfied, that such NRSRO Representative will act in accordance with this Confidentiality Agreement;



 


		(ii)	solely to the extent required for compliance with Rule 17g-5(a)(3) of the Act (17 C.F.R. 240.17g-5),
post the Confidential Information to the NRSRO’s password protected website; and



 


		(iii)	use information derived from the Confidential Information in connection with an Intended Purpose,
if such derived information does not reveal any Confidential Information.



 


		3.	Disclosures Required by
Law. If you or any NRSRO Representative is requested or required (orally or in writing, by interrogatory, subpoena, civil
investigatory demand, request for information or documents, deposition or similar process relating to any legal proceeding, investigation,
hearing or otherwise) to disclose any Confidential Information, you agree to provide the relevant Furnishing Entity with notice
as soon as practicable (except in the case of regulatory or other governmental inquiry, examination or investigation, and otherwise
to the extent practical and permitted by law, regulation or regulatory or other governmental authority) that a request to disclose
the Confidential Information has been made so that the relevant Furnishing Entity may seek an



 



    	Z-4



    	 



    




 


appropriate
protective order or other reasonable assurance that confidential treatment will be accorded the Confidential Information if it
so chooses. Unless otherwise required by a court or other governmental or regulatory authority to do so, and provided that you
been informed by written notice that the related Furnishing Entity is seeking a protective order or other reasonable assurance
for confidential treatment with respect to the requested Confidential Information, you agree not to disclose the Confidential
Information while the Furnishing Entity’s effort to obtain such a protective order or other reasonable assurance for confidential
treatment is pending. You agree to reasonably cooperate with each Furnishing Entity in its efforts to obtain a protective order
or other reasonable assurance that confidential treatment will be accorded to the portion of the Confidential Information that
is being disclosed, at the sole expense of such Furnishing Entity; provided, however, that in no event shall the
NRSRO be required to take a position that such information should be entitled to receive such a protective order or reasonable
assurance as to confidential treatment. If a Furnishing Entity succeeds in obtaining a protective order or other remedy, you agree
to comply with its terms with respect to the disclosure of the Confidential Information, at the sole expense of such Furnishing
Entity. If a protective order or other remedy is not obtained or if the relevant Furnishing Entity waives compliance with the
provisions of this Confidentiality Agreement in writing, you agree to furnish only such information as you are legally required
to disclose, at the sole expense of the relevant Furnishing Entity.


 


		4.	Obligation to Return Evaluation Material. Promptly upon written request by or on behalf of
the relevant Furnishing Entity, all material or documents, including copies thereof, that contain Evaluation Material will be destroyed
or, in your sole discretion, returned to the relevant Furnishing Entity. Notwithstanding the foregoing, (a) the NRSRO may
retain one or more copies of any document or other material containing Evaluation Material to the extent necessary for legal or
regulatory compliance (or compliance with the NRSRO’s internal policies and procedures designed to ensure legal or regulatory
compliance) and (b) the NRSRO may retain any portion of the Evaluation Material that may be found in backup tapes or other
archive or electronic media or other documents prepared by the NRSRO and any Evaluation Material obtained in an oral communication;
provided, that any Evaluation Material so retained by the NRSRO will remain subject to this Confidentiality Agreement and
the NRSRO will remain bound by the terms of this Confidentiality Agreement.



 


		5.	Violations of this Confidentiality Agreement.



 


		(a)	The NRSRO will be responsible for any breach of this Confidentiality Agreement by you, the NRSRO or
any NRSRO Representative.



 


		(b)	You agree promptly to advise each relevant Furnishing Entity in writing of any misappropriation or
unauthorized disclosure or use by any person of the Confidential Information which may come to your attention and to take all steps
reasonably requested by such Furnishing Entity to limit, stop or otherwise remedy such misappropriation, or unauthorized disclosure
or use.



 


		(c)	You acknowledge and agree that the Furnishing Entities would not have an adequate remedy at law and
would be irreparably harmed in the event that any of the 



 



    	Z-5



    	 



    




 


provisions
of this Confidentiality Agreement were not performed in accordance with their specific terms or were otherwise breached. It is
accordingly agreed that each Furnishing Entity shall be entitled to specific performance and injunctive relief to prevent breaches
of this Confidentiality Agreement and to specifically enforce the terms and provisions hereof, in addition to any other remedy
to which a Furnishing Entity may be entitled at law or in equity. It is further understood and agreed that no failure to or delay
in exercising any right, power or privilege hereunder shall preclude any other or further exercise of any right, power or privilege.


 


		6.	Term. Notwithstanding the termination or cancellation of this Confidentiality Agreement and
regardless of whether the NRSRO has provided a credit rating on a Security, your obligations under this Confidentiality Agreement
will survive indefinitely.



 


		7.	Governing Law. This Confidentiality Agreement and any claim, controversy or dispute arising
under the Confidentiality Agreement, the relationships of the parties and/or the interpretation and enforcement of the rights and
duties of the parties shall be governed by and construed in accordance with the laws of the State of New York applicable to agreements
made and to be performed within such State.



 


		8.	Amendments. This Confidentiality Agreement may be modified or waived only by a separate writing
by the NRSRO and each Furnishing Entity.



 


		9.	Entire Agreement. This Confidentiality Agreement represents the entire agreement between you
and the Furnishing Entities relating to the treatment of Confidential Information heretofore or hereafter reviewed or inspected
by you. This agreement supersedes all other understandings and agreements between us relating to such matters; provided,
however, that, if the terms of this Confidentiality Agreement conflict with another agreement relating to the Confidential
Information that specifically states that the terms of such agreement shall supersede, modify or amend the terms of this Confidentiality
Agreement, then to the extent the terms of this Confidentiality Agreement conflict with such agreement, the terms of such agreement
shall control notwithstanding acceptance by you of the terms hereof by entry into this website.



 


		10.	Contact Information. Notices for each Furnishing Entity under this Confidentiality Agreement,
shall be directed as set forth below:



 


[__________________]


 









    	Z-6



    	 



    

 


EXHIBIT AA-1


 


FORM OF TRANSFEROR CERTIFICATE

FOR TRANSFER OF THE EXCESS SERVICING FEE RIGHTS


 


[Date]


 


Deutsche Mortgage & Asset Receiving
Corporation

60 Wall Street

New York, New York 10005

Attention: Helaine M. Kaplan


 


		Re:	Deutsche Mortgage
                                         & Asset Receiving Corporation, DBJPM 2016-C1 Mortgage Trust Commercial Mortgage Pass-Through
                                         Certificates



 


Ladies and Gentlemen:


 


This letter is delivered to
you in connection with the transfer by _________________ (the “Transferor”) to _________________ (the “Transferee”)
of the Excess Servicing Fee Right established under the Pooling and Servicing Agreement, dated as of April 1, 2016 (the “Pooling
and Servicing Agreement”), and executed with respect to the above-referenced transaction. All capitalized terms used
but not otherwise defined herein shall have the respective meanings set forth in the Pooling and Servicing Agreement. The Transferee
hereby certifies, represents and warrants to you, as Depositor, that:


 


1.           The Transferor is the
lawful owner of the right to receive the Excess Servicing Fees with respect to the Mortgage Loans for which _________________ is
the Master Servicer (the “Excess Servicing Fee Right”), with the full right to transfer the Excess Servicing
Fee Right free from any and all claims and encumbrances whatsoever.


 


2.           Neither the Transferor
nor anyone acting on its behalf has (a) offered, transferred, pledged, sold or otherwise disposed of the Excess Servicing Fee Right,
any interest in the Excess Servicing Fee Right or any other similar security to any person in any manner, (b) solicited any offer
to buy or accept a transfer, pledge or other disposition of the Excess Servicing Fee Right, any interest in the Excess Servicing
Fee Right or any other similar security from any person in any manner, (c) otherwise approached or negotiated with respect to the
Excess Servicing Fee Right, any interest in the Excess Servicing Fee Right or any other similar security with any person in any
manner, (d) made any general solicitation with respect to the Excess Servicing Fee Right, any interest in the Excess Servicing
Fee Right or any other similar security by means of general advertising or in any other manner, or (e) taken any other action,
which (in the case of any of the acts described in clauses (a) through (e) hereof) would constitute a distribution of the Excess
Servicing Fee Right under the Securities Act of 1933, as amended (the “Securities Act”), or would render the
disposition of the Excess Servicing Fee Right a violation of Section 5 of the Securities Act or any state securities laws, or would
require registration or qualification of the Excess Servicing Fee Right pursuant to the Securities Act or any state securities
laws.


 






    	AA-1-1



    	 



    

 





	 	 	 
	 	Very truly yours,
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:





 



    	AA-1-2



    	 



    

 





EXHIBIT
AA-2


 


FORM OF TRANSFEREE CERTIFICATE

FOR TRANSFER OF THE EXCESS SERVICING FEE RIGHTS


 


[Date]


 


Deutsche Mortgage & Asset Receiving
Corporation

60 Wall Street

New York, New York 10005

Attention: Helaine M. Kaplan


 


Wells Fargo Bank, National Association

Commercial Mortgage Servicing

MAC D1086

550 South Tryon Street, 14th Floor

Charlotte, North Carolina 28202

Attention: DBJPM 2016-C1 Asset Manager


 


		Re:	Deutsche Mortgage & Asset Receiving Corporation, DBJPM
2016-C1 Mortgage Trust Commercial Mortgage Pass-Through Certificates





 


Ladies and Gentlemen:


 


This letter is delivered to
you in connection with the transfer by _________________ (the “Transferor”) to _________________ (the “Transferee”)
of the Excess Servicing Fee Right established under the Pooling and Servicing Agreement, dated as of April 1, 2016 (the “Pooling
and Servicing Agreement”), entered into and executed with respect to the above-referenced transaction. All capitalized
terms used but not otherwise defined herein shall have the respective meanings set forth in the Pooling and Servicing Agreement.
The Transferee hereby certifies, represents and warrants to you, as the Depositor and the Master Servicer, that:


 


1.           The Transferee is acquiring
the right to receive Excess Servicing Fees with respect to the Mortgage Loans as to which __________________ is the applicable
Master Servicer (the “Excess Servicing Fee Right”) for its own account for investment and not with a view to
or for sale or transfer in connection with any distribution thereof, in whole or in part, in any manner which would violate the
Securities Act of 1933, as amended (the “Securities Act”), or any applicable state securities laws.


 


2.           The Transferee understands
that (a) the Excess Servicing Fee Right has not been and will not be registered under the Securities Act or registered or qualified
under any applicable state securities laws, (b) none of the Depositor, the Trustee, Certificate Administrator or the Certificate
Registrar is obligated so to register or qualify the Excess Servicing Fee Right, and (c) the Excess Servicing Fee Right may not
be resold or transferred unless it is (i) registered pursuant to the Securities Act and registered or qualified pursuant to any
applicable state securities laws or (ii) sold or transferred in transactions which are exempt from such registration


 



    	AA-2-1



    	 



    




 


and
qualification and (A) the Depositor has received a certificate from the prospective transferor substantially in the form attached
as Exhibit AA-1 to the Pooling and Servicing Agreement, and (B) each of the Master Servicer and the Depositor have received a
certificate from the prospective transferee substantially in the form attached as Exhibit AA-2 to the Pooling and Servicing Agreement.


 


3.           The Transferee understands
that it may not sell or otherwise transfer the Excess Servicing Fee Right or any interest therein except in compliance with the
provisions of Section 3.12 of the Pooling and Servicing Agreement, which provisions it has carefully reviewed.


 


4.           Neither the Transferee
nor anyone acting on its behalf has (a) offered, pledged, sold, disposed of or otherwise transferred the Excess Servicing Fee Right,
any interest in the Excess Servicing Fee Right or any other similar security to any person in any manner, (b) solicited any offer
to buy or accept a pledge, disposition or other transfer of the Excess Servicing Fee Right, any interest in the Excess Servicing
Fee Right or any other similar security from any person in any manner, (c) otherwise approached or negotiated with respect to the
Excess Servicing Fee Right, any interest in the Excess Servicing Fee Right or any other similar security with any person in any
manner, (d) made any general solicitation with respect to the Excess Servicing Fee Right, any interest in the Excess Servicing
Fee Right or any other similar security by means of general advertising or in any other manner, or (e) taken any other action with
respect to the Excess Servicing Fee Right, any interest in the Excess Servicing Fee Right or any other similar security, which
(in the case of any of the acts described in clauses (a) through (e) above) would constitute a distribution of the Excess Servicing
Fee Right under the Securities Act, would render the disposition of the Excess Servicing Fee Right a violation of Section 5 of
the Securities Act or any state securities law or would require registration or qualification of the Excess Servicing Fee Right
pursuant thereto. The Transferee will not act, nor has it authorized or will it authorize any person to act, in any manner set
forth in the foregoing sentence with respect to the Excess Servicing Fee Right, any interest in the Excess Servicing Fee Right
or any other similar security.


 


5.          The Transferee has been
furnished with all information regarding (a) the Depositor, (b) the Excess Servicing Fee Right and any payments thereon, (c) the
Pooling and Servicing Agreement and the Trust Fund created pursuant thereto, (d) the nature, performance and servicing of the Mortgage
Loans, and (e) all related matters that it has requested.


 


6.           The Transferee is (a)
a “qualified institutional buyer” within the meaning of Rule 144A under the Securities Act or (b) an “accredited
investor” as defined in any of paragraphs (1), (2), (3) and (7) of Rule 501(a) under the Securities Act or an entity in which
all of the equity owners come within such paragraphs. The Transferee has such knowledge and experience in financial and business
matters as to be capable of evaluating the merits and risks of an investment in the Excess Servicing Fee Right; the Transferee
has sought such accounting, legal and tax advice as it has considered necessary to make an informed investment decision; and the
Transferee is able to bear the economic risks of such investment and can afford a complete loss of such investment.


 


7.          The Transferee agrees
(i) to keep all information relating to the Trust, the Trust Fund and the parties to the Pooling and Servicing Agreement, and made
available to it,


 






    	AA-2-2



    	 



    

 


confidential,
(ii) not to use or disclose such information in any manner which could result in a violation of any provision of the Securities
Act or would require registration of the Excess Servicing Fee Right or any Certificate pursuant to the Securities Act, and (iii)
not to disclose such information, and to cause its officers, directors, partners, employees, agents or representatives not to
disclose such information, in any manner whatsoever, in whole or in part, to any other Person other than such holder’s auditors,
legal counsel and regulators, except to the extent such disclosure is required by law, court order or other legal requirement
or to the extent such information is of public knowledge at the time of disclosure by such holder or has become generally available
to the public other than as a result of disclosure by such holder; provided, however, that such holder may provide all or any
part of such information to any other Person who is contemplating an acquisition of the Excess Servicing Fee Right if, and only
if, such Person (x) confirms in writing such prospective acquisition and (y) agrees in writing to keep such information confidential,
not to use or disclose such information in any manner which could result in a violation of any provision of the Securities Act
or would require registration of the Excess Servicing Fee Right or any Certificates pursuant to the Securities Act and not to
disclose such information, and to cause its officers, directors, partners, employees, agents or representatives not to disclose
such information, in any manner whatsoever, in whole or in part, to any other Person other than such Persons’ auditors,
legal counsel and regulators.


 


8.           The
Transferee acknowledges that the holder of the Excess Servicing Fee Right shall not have any rights under the Pooling and Servicing
Agreement except as set forth in Section 3.12(a) of the Pooling and Servicing Agreement, and that the Excess Servicing Fee Rate
may be reduced to the extent provided in the Pooling and Servicing Agreement. 





	 	 	 
	 	Very truly yours,
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:





 






    	AA-2-3



    	 



    

 





EXHIBIT BB


 


FORM OF OPERATING ADVISOR ANNUAL REPORT


 


Report Date: Report will
be delivered annually no later than [INSERT DATE].

Transaction: Deutsche Mortgage & Asset Receiving Corporation, DBJPM 2016-C1 Mortgage Trust Commercial Mortgage Pass-Through
Certificates

Operating Advisor: Park Bridge Lender Services LLC

Special Servicer: Midland Loan Services, a Division of PNC Bank, National Association

Controlling Class Representative: Eightfold Real Estate Capital, L.P.


 


I. Executive Summary 


 


Based on the requirements and
qualifications set forth in the Pooling and Servicing Agreement dated as of April 1, 2016 (the “Pooling and Servicing
Agreement”), between Deutsche Mortgage & Asset Receiving Corporation, as depositor, Wells Fargo Bank, National Association,
as master servicer, Midland Loan Services, a Division of PNC Bank, National Association, as special servicer, Wilmington Trust,
National Association, as trustee, Wells Fargo Bank, National Association, as certificate administrator, paying agent and custodian,
Park Bridge Lender Services LLC, as operating advisor, and
Park Bridge Lender Services LLC, as asset representations reviewer, as well
as the items listed below, the Operating Advisor has undertaken a limited review of the Special Servicer’s operational activities
in light of the Servicing Standard and the requirements of the Pooling and Servicing Agreement with respect to the resolution and/or
liquidation of the Specially Serviced Loans and provides this Operating Advisor Annual Report.


 


No information or any other
content included in this Operating Advisor Annual Report contravenes any provision of the Pooling and Servicing Agreement. This
Operating Advisor Annual Report sets forth the Operating Advisor’s assessment of the Special Servicer’s performance
of its duties under the Pooling and Servicing Agreement during the prior calendar year on a platform-level basis with respect to
the resolution and liquidation of Specially Serviced Loans during the prior calendar year.


 


Subject to the restrictions
in the Pooling and Servicing Agreement, this Operating Advisor Annual Report (A) identifies any material deviations, if any (i)
from the Servicing Standard and (ii) from the Special Servicer’s obligations under the Pooling and Servicing Agreement with
respect to the resolution or liquidation of Specially Serviced Loans and (B) complies with all of the confidentiality requirements
described in the Pooling and Servicing Agreement.


 


In connection with the assessment
set forth in this report, the Operating Advisor:


 


		1.	Reviewed any annual compliance statement delivered to the Operating Advisor pursuant to Section
10.11 the Pooling and Servicing Agreement and the following issues were noted therein: [ ]



 






    	BB-1



    	 



    

 


Operating Advisor Actions:


 


		2.	Reviewed any annual independent public accountants’ servicing report delivered to the Operating
Advisor pursuant to Section 10.13 of the Pooling and Servicing Agreement and the following issues were noted therein: [ ]



 


Operating Advisor Actions:


 


		3.	Reviewed any [Final] Asset Status Report and other information or communications delivered to the
Operating Advisor and the following issues were noted therein: [ ]



 


Operating Advisor Actions:


 


Based on such review and/or
consultation with the Special Servicer and performance of the other obligations of the Operating Advisor under the Pooling and
Servicing Agreement, the Operating Advisor [does, does not] believe there are material violations of the Special Servicer’s
compliance with its obligations under the Pooling and Servicing Agreement.


 


Qualifications related to
the work product undertaken and opinions related to this report:

 


1.           The Operating
Advisor did not participate in, or have access to, the Special Servicer’s and Controlling Class Representative’s discussion(s)
regarding any Specially Serviced Loan. The Operating Advisor does not have authority to speak with the Controlling Class Representative
directly pursuant to the Pooling and Servicing Agreement. As such, the Operating Advisor generally relied upon its interaction
with the Special Servicer in gathering the relevant information to generate this report.


 


2.           The Special Servicer
has the legal authority and responsibility to service the Specially Serviced Loans pursuant to the Pooling and Servicing Agreement.
The Operating Advisor has no responsibility or authority to alter the standards set forth therein.


 


3.           Confidentiality
and other contractual restrictions limit the Operating Advisor’s ability to outline herein the details or substance of certain
information it reviewed in connection with its duties under the Pooling and Servicing Agreement. As a result, this report may not
reflect all the relevant information that the Operating Advisor is given access to by the Special Servicer. However, all such information
is considered in preparing this report.


 


4.           There are many
tasks that the Special Servicer undertakes on an ongoing basis related to Specially Serviced Loans. These include, but are not
limited to, assumptions, ownership changes, collateral substitutions, capital reserve changes, etc. The Operating Advisor does
not participate in discussions regarding such actions. As such, the Operating Advisor has not assessed the Special Servicer’s
operational compliance with respect to those types of actions.


 






    	BB-2



    	 



    

 


5.           The Operating
Advisor is not empowered to directly communicate with investors pursuant to the Pooling and Servicing Agreement. If investors have
questions regarding this report, they should address such questions to the Certificate Administrator through the Certificate Administrator’s
Website.


 


Terms used but not defined
herein have the meaning set forth in the Pooling and Servicing Agreement as described herein.





	 	 	 
	 	PARK BRIDGE LENDER
SERVICES LLC
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:


 



    	BB-3



    	 



    

 






 


EXHIBIT CC


 


ADDITIONAL DISCLOSURE NOTIFICATION


 


**SEND VIA FAX TO (410)715-2380 AND VIA EMAIL TO
cts.sec.notifications@wellsfargo.com AND [_____] AND VIA OVERNIGHT MAIL TO THE ADDRESSES IMMEDIATELY BELOW**


 


Wells Fargo Bank, National Association


9062 Old Annapolis Road

Columbia, Maryland 21045


Attention: DBJPM 2016-C1 Mortgage Trust




 


Deutsche Mortgage & Asset Receiving Corporation,

as Depositor

60 Wall Street

New York, New York 10005

Attention: Helaine M. Kaplan


 


		Re:	**Additional Form [10-D][10-K][8-K] Disclosure Required **



 


Ladies and Gentlemen:


 


In accordance with Section [10.06][10.07][10.09]
of the Pooling and Servicing Agreement, dated as of April 1, 2016 (the “Pooling and Servicing Agreement”), entered
into between Deutsche Mortgage & Asset Receiving Corporation, as depositor, Wells Fargo Bank, National Association, as master
servicer (in such capacity, the “Master Servicer”), Midland Loan Services, a Division of PNC Bank, National
Association, as special servicer (the “Special Servicer”), Park Bridge Lender Services
LLC, as operating advisor, Park Bridge Lender Services LLC, as asset representations
reviewer, Wilmington Trust, National Association, as trustee, and Wells Fargo Bank, National Association, as certificate administrator
(in such capacity, the “Certificate Administrator”), paying agent and custodian, the undersigned, as                          ,
hereby notifies you that certain events have come to our attention that [will] [may] need to be disclosed on Form [10-D][10-K][8-K].


 


Description of Additional Form [10-D][10-K][8-K]
Disclosure:


 






    	CC-1



    	 



    

 


List of any Attachments hereto to be included in
the Additional Form [10-D][10-K][8-K] Disclosure:


 


Any inquiries related to this notification should
be directed to                          ,
phone number:                          ;
email address:                          .


 


	 	[NAME OF PARTY], as [role]
	 	 
		By:	 
	 	 	Name:
	 	 	Title:



 






    	CC-2



    	 



    

 


EXHIBIT DD-1


 


FORM OF POWER OF ATTORNEY FOR MASTER SERVICER


 


RECORDING REQUESTED BY:


{insert address}





	 






SPACE ABOVE THIS LINE FOR RECORDER’S
USE


 


LIMITED POWER OF ATTORNEY




KNOW ALL MEN BY THESE PRESENTS, that Wilmington Trust, National Association, a national banking association, incorporated and
existing under the laws of the United States, having its usual place of business at 1100 North Market Street, Wilmington, Delaware
19890 as Trustee (the “Trustee”) pursuant to that Pooling and Servicing Agreement dated as of April 1, 2016
(the “Agreement”) by and among Deutsche Mortgage & Asset Receiving Corporation, as Depositor, Wells
Fargo Bank, National Association, as Certificate Administrator, Park Bridge Lender Services LLC, as Operating Advisor and Asset
Representations Reviewer, Wells Fargo Bank, National Association, as Master Servicer (in such capacity, the “Master Servicer”),
Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer (the “Special Servicer”)
and Wilmington Trust, National Association, as Trustee, and the Trustee hereby constitutes and appoints the Master Servicer, by
and through the Master Servicer’s officers, the Trustee’s true and lawful Attorney-in-Fact, in the Trustee’s
name, place and stead and for the Trustee’s benefit, in connection with all mortgage loans (the “Mortgage Loans”)
serviced by the Master Servicer and all properties (“Properties”) administered by the Master Servicer pursuant
to the Agreement, to execute and acknowledge in writing or by facsimile stamp all documents customarily and reasonably necessary
and appropriate to effectuate the enumerated transactions described in items 1 through 12 below with respect to the Mortgage Loans
and Properties; provided, however, that the documents described below may only be executed and delivered by such
Attorneys-in-Fact if such documents are required or permitted under the Agreement. Capitalized terms used herein and not otherwise
defined herein have the meanings set forth in the Agreement.


 


		1.	The endorsement on behalf of the Trustee of all checks, drafts and/or other negotiable instruments made payable to the Trustee
and draw upon, replace, substitute, release or amend letters of credit standing as collateral securing any Mortgage Loan.



 


		2.	The modification or re-recording of a Mortgage or deed of trust, where said modification or re-recording is solely for the
purpose of correcting the Mortgage or deed of trust to conform same to the original intent of the parties thereto or to correct
title errors discovered after such title insurance was issued; provided that (i) said modification or re-recording, in either instance,
does not adversely affect the lien of the Mortgage or deed of trust as insured and (ii) otherwise conforms to the provisions of
the Agreement.



 






    	DD-1-1



    	 



    

 


		3.	The subordination of the lien of a Mortgage or deed of trust to an easement in favor of a public utility company of a government
agency or unit with powers of eminent domain; this section shall include, without limitation, the execution of partial satisfactions/releases,
partial reconveyances or the execution or requests to trustees to accomplish same.



 


		4.	The conveyance of the properties to the mortgage insurer, or the closing of the title to the property to be acquired as real
estate owned, or conveyance of title to real estate owned.



 


		5.	The completion of loan assumption agreements.



 


		6.	The full satisfaction/release of a Mortgage or deed of trust or full conveyance upon payment and discharge of all sums secured
thereby, including, without limitation, cancellation of the related Mortgage Note.



 


		7.	The assignment of any Mortgage or deed of trust and the related Mortgage Note, in connection with the repurchase of the mortgage
loan secured and evidenced thereby.



 


		8.	The full assignment of a Mortgage or deed of trust upon payment and discharge of all sums secured thereby in conjunction with
the refinancing thereof, including, without limitation, the assignment of the related Mortgage Note.



 


		9.	The full enforcement of and preservation of the Trustee’s interests in the Mortgage Notes, Mortgages or deeds of trust,
and in the proceeds thereof, by way of, including but not limited to, foreclosure, the taking of a deed in lieu of foreclosure,
or the completion of judicial or non-judicial foreclosure or the termination, cancellation or rescission of any such foreclosure,
the initiation, prosecution and completion of eviction actions or proceedings with respect to, or the termination, cancellation
or rescission of any such eviction actions or proceedings, and the pursuit of title insurance, hazard insurance and claims in bankruptcy
proceedings, including, without limitation, any and all of the following acts:



 


		a.	the substitution of trustee(s) serving under a deed of trust, in accordance with state law and the
deed of trust;



 


		b.	the preparation and issuance of statements of breach or non-performance;



 


		c.	the preparation and filing of notices of default and/or notices of sale;



 


		d.	the cancellation/rescission of notices of default and/or notices of sale;



 


		e.	the taking of deed in lieu of foreclosure;



 


		f.	the filing, prosecution and defense of claims, and to appear on behalf of the Trustee, in bankruptcy
cases affecting Mortgage Notes, Mortgages or deeds of trust;



 






    	DD-1-2



    	 



    

 


		g.	the preparation and service of notices to quit and all other documents necessary to initiate, prosecute
and complete eviction actions or proceedings;



 


		h.	the tendering, filing, prosecution and defense, as applicable, of hazard insurance and title insurance
claims, including but not limited to appearing on behalf of the Trustee in quiet title actions; and



 


		i.	the preparation and execution of such other documents and performance of such other actions as may
be necessary under the terms of the Mortgage, deed of trust or state law to expeditiously complete said transactions in paragraphs
9.a. through 9.h. above.



 


		10.	With respect to the sale of property acquired through a foreclosure or deed-in lieu of foreclosure, including, without limitation,
the execution of the following documentation:



 


		a.	listing agreements;



 


		b.	purchase and sale agreements;



 


		c.	grant/warranty/quit claim deeds or any other deed causing the transfer of title of the property to a party contracted to purchase same;



 


		d.	escrow instructions; and



 


		e.	any and all documents necessary to effect the transfer of property.



 


		11.	The modification or amendment of escrow agreements established for repairs to the mortgaged property or reserves for replacement
of personal property.



 


		12.	The execution and delivery of the following:



 


		a.	any and all financing statements, continuation statements and other documents or instruments necessary
to maintain the lien created by the Mortgage, deed of trust or other security document in the related Mortgage File or the related
Mortgaged Property and other related collateral;



 


		b.	any and all instruments of satisfaction or cancellation, or of partial or full release or discharge,
or of partial or full defeasance, and all other comparable instruments; and



 


		c.	any and all assumptions, modifications, waivers, substitutions, extensions, amendments, consents to
transfers of interests in borrowers, consents to any subordinate financings to be secured by any related Mortgaged Property, consents
to any mezzanine financing to be secured by the ownership interests in a borrower, consents to and monitoring of the application
of any proceeds of insurance policies or condemnation awards to the restoration of the related Mortgaged Property or otherwise,
documents relating to the management, operation, maintenance, repair, leasing and marketing of the related Mortgaged Properties
(including agreements and 



 






    	DD-1-3



    	 



    

 


		 	requests by any borrower with respect to modifications of the standards of operation and management of
such Mortgaged Properties or the replacement of asset managers), documents exercising any or all of the rights, powers and privileges
granted or provided to the holder of any Mortgage Loan under the related loan documents, lease subordination agreements, non-disturbance
and attornment agreements or other leasing or rental arrangements, any easements, covenants, conditions, restrictions, equitable
servitudes, or land use or zoning requirements with respect to the Mortgaged Properties, instruments relating to the custody of
any collateral that now secures or hereafter may secure any Mortgage Loan and any other consents.




 


The undersigned gives said Attorney-in-Fact full
power and authority to execute such instruments and to do and perform all and every act and thing necessary and proper to carry
into effect the power or powers granted by or under this Limited Power of Attorney as fully as the undersigned might or could do,
and hereby does ratify and confirm to all that said Attorney-in-Fact shall be effective as of the date set forth below.


 


This appointment is to be construed and interpreted
as a limited power of attorney. The enumeration of specific items, rights, acts or powers herein is not intended to, nor does it
give rise to, and it is not to be construed as a general power of attorney.


 


Solely to the extent that the Master Servicer has
the power to delegate its rights or obligations under the Agreement, the Master Servicer also has the power to delegate the authority
given to it by Wilmington Trust, National Association, as Trustee, under this Limited Power of Attorney, for purposes of performing
its obligations and duties by executing such additional powers of attorney in favor of its attorneys-in-fact as are necessary for
such purpose. The Master Servicer’s attorneys-in-fact shall have no greater authority than that held by the Master Servicer.


 


Nothing contained herein shall: (i) limit in any
manner any indemnification provided to the Trustee under the Agreement, (ii) limit in any manner the rights and protections afforded
the Trustee under the Agreement, or (iii) be construed to grant the Master Servicer the power to initiate or defend any suit, litigation
or proceeding in the name of Wilmington Trust, National Association except as specifically provided for herein. If the Master Servicer
receives any notice of suit, litigation or proceeding in the name of Wilmington Trust, National Association, then the Master Servicer
shall promptly forward a copy of same to the Trustee.


 


This limited power of attorney is not intended
to extend the powers granted to the Master Servicer under the Agreement or to allow the Master Servicer to take any action with
respect to Mortgages, deeds of trust or Mortgage Notes not authorized by the Agreement.


 


The Master Servicer hereby agrees to indemnify
and hold the Trustee and its directors, officers, employees and agents harmless from and against any and all liabilities, obligations,
losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind or nature whatsoever incurred
by reason or result of the negligent use, or negligent or willful misuse, of this Limited Power of Attorney by the Master Servicer.
The foregoing indemnity


 






    	DD-1-4



    	 



    

 


shall survive the termination of this Limited Power of Attorney and the Agreement or the earlier resignation
or removal of the Trustee under the Agreement.


 


This Limited Power of Attorney is entered into
and shall be governed by the laws of the State of New York, without regard to conflicts of law principles of such state.


 


Third parties without actual notice may rely upon
the exercise of the power granted under this Limited Power of Attorney; and may be satisfied that this Limited Power of Attorney
shall continue in full force and effect and has not been revoked unless an instrument of revocation has been made in writing by
the undersigned.


 


IN WITNESS WHEREOF, Wilmington Trust, National
Association, as Trustee for the benefit of the Holders of DBJPM 2016-C1 Mortgage Trust Commercial Mortgage Pass-Through Certificates,
Series 2016-C1 has caused its corporate seal to be hereto affixed and these presents to be signed and acknowledged in its name
and behalf by a duly elected and authorized signatory this ___________ day of ____________.





	 	 	 	 	 
	 	 	Wilmington Trust, National Association,
	 	 	as Trustee for the benefit
    of the Holders of DBJPM 2016-C1 Mortgage Trust Commercial Mortgage Pass-Through Certificates, Series 2016-C1
	 	 	 	 
	 	 	By:	 	 
	 	 	 	Name:
	 	 	 	Title:
	 	 	 	 
	Witness:	 	 	 
	 	 	 	 



 






    	DD-1-5



    	 



    

 


State of Delaware}


County of ____}





On ________________________,
before me, _________________________________Notary Public, personally appeared ___________________________, who proved to me on
the basis of





satisfactory evidence to be the person whose name
is subscribed to the within instrument and acknowledged to me that he/she executed the same in his/her authorized capacity and
that by his/her signature on the instrument the person, or the entity upon behalf of which the person acted, executed the instrument.


 


I certify under PENALTY OF PERJURY under the laws
of the State of Delaware that the foregoing paragraph is true and correct.


Witness my hand and official seal.





	 	 






Notary signature


 






    	DD-1-6



    	 



    

 


EXHIBIT DD-2


 


FORM OF POWER OF ATTORNEY BY TRUSTEE FOR SPECIAL
SERVICER


 


RECORDING REQUESTED BY:


Midland Loan Services, a Division of PNC Bank,
National Association


10851 Mastin Street


Overland Park, Kansas 66210


Attention: Executive Vice President – Division
Head


Telecopy number: 1-888-706-3565





	 




SPACE ABOVE THIS LINE FOR RECORDER’S
USE


 


LIMITED POWER OF ATTORNEY


 


KNOW ALL MEN BY THESE PRESENTS, that Wilmington
Trust, National Association, a national banking association, incorporated and existing under the laws of the United States, having
its usual place of business at 1100 North Market Street, Wilmington, Delaware 19890, as Trustee (the “Trustee”)
pursuant to that Pooling and Servicing Agreement dated as of April 1, 2016 (the “Agreement”) by and among
Deutsche Mortgage & Asset Receiving Corp., as the Depositor, Wells Fargo Bank, National Association, as master servicer
(in such capacity, the “Master Servicer”), Midland Loan Services, a Division of PNC Bank, National Association,
as special servicer (the “Special Servicer”), Wilmington Trust, National Association, as Trustee, Wells Fargo
Bank, National Association, as certificate administrator (in such capacity, the “Certificate Administrator”),
and Park Bridge Lender Services LLC, as operating advisor (in such capacity, the “Operating Advisor”) and asset
representations reviewer (in such capacity, the “Asset Representations Reviewer”), and the Trustee hereby constitutes
and appoints the Special Servicer, by and through the Special Servicer’s officers and authorized employees, the Trustee’s
true and lawful Attorney-in-Fact, in the Trustee’s name, place and stead and for the Trustee’s benefit, in connection
with all mortgage loans (the “Mortgage Loans”) serviced by the Special Servicer and all properties (“REO
Properties”) administered by the Special Servicer pursuant to the Agreement, to execute and acknowledge in writing or
by facsimile stamp all documents customarily and reasonably necessary and appropriate to effectuate the enumerated transactions
described in items (1) through (13) below with respect to the Mortgage Loans and REO Properties; provided however, that the documents
described below may only be executed and delivered by such Attorneys-in-Fact if such documents are required or permitted under
the terms of the Agreement. Capitalized terms used herein and not otherwise defined herein have the meanings set forth in the Agreement.


 


		1.	The endorsement on behalf of the Trustee of all checks, drafts and/or other negotiable instruments
made payable to the Trustee and to draw upon, replace, substitute, release or amend letters of credit standing as collateral securing
any Mortgage Loan.



 






    	DD-2-1



    	 



    

 


		2.	The modification or re-recording of a Mortgage or deed of trust, where said modification or re-recording
is solely for the purpose of correcting such Mortgage or deed of trust to conform same to the original intent of the parties thereto
or to correct title errors discovered after such title insurance was issued; provided that said modification or re-recording, in
either instance, (i) does not adversely affect the lien of the Mortgage or deed of trust as insured and (ii) otherwise conforms
to the provisions of the Agreement.



 


		3.	The subordination of the lien of a Mortgage or deed of trust to an easement in favor of a public utility
company or a government agency or unit with powers of eminent domain; this section shall include, without limitation, the execution
of partial satisfactions/releases, partial reconveyances or the execution or requests to trustees to accomplish same.



 


		4.	The conveyance of any property to the mortgage insurer, or the closing of title to any mortgaged property
(a “Mortgaged Property”) to be acquired as REO Property, or conveyance of title to any REO Property.



 


		5.	The completion of loan assumption agreements and transfers of interest in borrower entities.



 


		6.	The full satisfaction/release of a Mortgage or full conveyance upon payment and discharge of all sums
secured thereby, including, without limitation, cancellation of the related promissory note.



 


		7.	The assignment of any Mortgage and the related promissory note and other loan documents, in connection
with the purchase or repurchase of the Mortgage Loan secured and evidenced thereby.



 


		8.	The full assignment of a Mortgage upon payment and discharge of all sums secured thereby in conjunction
with the refinancing thereof, including, without limitation, the assignment of the related promissory note and other loan documents.



 


		9.	The full enforcement of and preservation of the Trustee’s interests in any Mortgage or the related
promissory note, and in the proceeds thereof, by way of, including but not limited to, taking title to any Mortgaged Property on
behalf of the Trust, foreclosure, the taking of a deed-in-lieu of foreclosure, or the completion of judicial or non-judicial foreclosure
and/or any related litigation, including without limitation, guaranty or receivership litigation, or litigation on the note, or
the termination, cancellation or rescission of any such foreclosure, the initiation, prosecution and completion of eviction actions
or proceedings with respect to, or the termination, cancellation or rescission of any such eviction actions or proceedings, the
initiation or defense of any litigation related to the ownership of any REO Property, and the pursuit of title insurance, hazard
insurance and claims in bankruptcy proceedings, including, without limitation, any and all of the following acts:



 


		a.	the substitution of trustee(s) serving under a deed of trust, in accordance with state law and such
deed of trust;



 






    	DD-2-2



    	 



    

 


		b.	the preparation and issuance of statements of breach or non-performance;



 


		c.	the preparation and filing of notices of default and/or notices of sale;



 


		d.	the cancellation/rescission of notices of default and/or notices of sale;



 


		e.	the filing, prosecution and defense of claims, and the appearance on behalf of the Trustee, in bankruptcy
cases affecting any Mortgage or the related promissory note;



 


		f.	the preparation and service of notices to quit and all other documents necessary to initiate, prosecute
and complete eviction actions or proceedings;



 


		g.	the tendering, filing, prosecution and defense, as applicable, of hazard insurance and title insurance
claims, including but not limited to appearing on behalf of the Trustee in quiet title actions;



 


		h.	the creation of a wholly-owned entity of the Trust for purposes of holding foreclosed property; and



 


		i.	the preparation and execution of such other documents and the performance of such other actions as
may be necessary under the terms of the Mortgage or state law to expeditiously complete said transactions in paragraphs 9.a. through
9.h. above.



 


		10.	With respect to the sale of property acquired through a foreclosure or deed-in lieu of foreclosure,
including, without limitation, the execution of the following documentation:



 


		a.	listing agreements;



 


		b.	purchase and sale agreements;



 


		c.	grant/warranty/quit claim deeds or any other deed causing the transfer of title of the
property to a party contracted to purchase same;



 


		d.	escrow instructions; and



 


		e.	any and all documents necessary to effect the transfer of property.



 


		11.	The modification or amendment of escrow agreements established for repairs to the Mortgaged Property
or reserves for replacement of personal property.



 


		12.	Execute and/or file such documents and take such other action as is proper and necessary to defend
the Trustee, solely in its capacity as Trustee, in litigation and to resolve such litigation, provided that such resolution shall
not include any admission of fault or wrongdoing by the Trustee or, without the Trustee’s consent, subject the Trustee to
any form of injunctive relief.



 


		13.	The execution and delivery of the following:



 






    	DD-2-3



    	 



    

 


		a.	any and all financing statements, continuation statements and other documents or instruments necessary
to maintain the lien created by the Mortgage or other security document in the related Mortgage File or the related Mortgaged Property
and other related collateral;



 


		b.	any and all instruments of satisfaction or cancellation, or of partial or full release or discharge,
or of partial or full defeasance, and all other comparable instruments;



 


		c.	any and all assumptions, modifications, waivers, substitutions, extensions, amendments, consents to
transfers of interests in borrowers, consents to any subordinate financings to be secured by any related Mortgaged Property, consents
to any mezzanine financing to be secured by the ownership interests in a borrower, consents to and monitoring of the application
of any proceeds of insurance policies or condemnation awards to the restoration of the related Mortgaged Property, REO Property
or otherwise, documents relating to the management, operation, maintenance, repair, leasing and marketing of the related Mortgaged
Properties (including agreements and requests by any borrower with respect to modifications of the standards of operation and management
of such Mortgaged Properties or the replacement of asset managers) or REO Properties, documents exercising any or all of the rights,
powers and privileges granted or provided to the holder of any Mortgage Loan under the related loan documents, lease subordination
agreements, non-disturbance and attornment agreements or other leasing or rental arrangements, management agreements, any easements,
covenants, conditions, restrictions, equitable servitudes, or land use or zoning requirements with respect to the Mortgaged Properties
or REO Properties, instruments relating to the custody of any collateral that now secures or hereafter may secure any Mortgage
Loan and any other consents; and



 


		d.	any and all documents, instruments and certifications as are reasonably necessary to complete or accomplish
the Special Servicer’s duties and responsibilities under the Agreement.



 


The undersigned gives said Attorney-in-Fact
full power and authority to execute such instruments and to do and perform all and every act and thing necessary and proper to
carry into effect the power or powers granted by or under this Limited Power of Attorney as fully as the undersigned might or could
do, and hereby does ratify and confirm to all that said Attorney-in-Fact shall be effective as of the date set forth below.


 


This appointment is to be construed
and interpreted as a limited power of attorney. The enumeration of specific items, rights, acts or powers herein is not intended
to, nor does it give rise to, and it is not to be construed as a general power of attorney.


 


Solely to the extent that the Special
Servicer has the power to delegate its rights or obligations under the Agreement, the Special Servicer also has the power to delegate
the authority given to it by Wilmington Trust, National Association, as Trustee, under this Limited Power of Attorney, for purposes
of performing its obligations and duties by executing such


 






    	DD-2-4



    	 



    

 


additional
powers of attorney in favor of its attorneys-in-fact as are necessary for such purpose. The Special Servicer’s attorneys-in-fact
shall have no greater authority than that held by the Special Servicer.


 


Nothing contained herein shall:
(i) limit in any manner any indemnification provided to the Trustee under the Agreement, (ii) limit in any manner the rights and
protections afforded the Trustee under the Agreement, or (iii) be construed to grant the Special Servicer the power to initiate
or defend any suit, litigation or proceeding in the name of Wilmington Trust, National Association except as specifically provided
for herein or in the Agreement. If the Special Servicer receives any notice of suit, litigation or proceeding in the name of Wilmington
Trust, National Association (solely in its capacity as Trustee), then the Special Servicer shall promptly forward a copy of same
to the Trustee.


 


This limited power of attorney is
not intended to extend or limit the powers granted to the Special Servicer under the Agreement or to allow the Special Servicer
to take any action with respect to Mortgages, deeds of trust or the related promissory notes not authorized by the Agreement.


 


The Special Servicer hereby agrees
to indemnify and hold the Trustee and its directors, officers, employees and agents harmless from and against any and all liabilities,
obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind or nature whatsoever
incurred by the Trustee by reason or result of the negligent use, or negligent or willful misuse, of this Limited Power of Attorney
by the Special Servicer. The foregoing indemnity shall survive the termination of this Limited Power of Attorney and the Agreement
or the earlier resignation or removal of the Trustee under the Agreement.


 


This Limited Power of Attorney is
entered into and shall be governed by the laws of the State of New York, without regard to conflicts of law principles of such
state.


 


Third parties without actual notice
may rely upon the exercise of the power granted under this Limited Power of Attorney; and may be satisfied that this Limited Power
of Attorney shall continue in full force and effect and has not been revoked unless an instrument of revocation has been made in
writing by the undersigned.


 


IN WITNESS WHEREOF, Wilmington Trust,
National Association, as Trustee for DBJPM 2016-C1 Commercial Mortgage Trust Commercial Mortgage Pass Through Certificates, Series
2016-C1, has caused its corporate seal to be hereto affixed and these presents to be signed and acknowledged in its name and behalf
by a duly elected and authorized signatory this ___________ day of ____________.








	 	 	 	 	 
	 	 	Wilmington Trust, National Association,
	 	 	as Trustee for DBJPM 2016-C1 Commercial
Mortgage Trust Commercial Mortgage Pass Through Certificates, Series 2016-C1
	 	 	 	 
	 	 	By:	 	 



 






    	DD-2-5



    	 



    

 





	 	 	 	 	 
	 	 	Name:	 
	 	 	Title:	 
	 	 	 	 
	Address:	Wilmington Trust, National Association	 
	 	1100 North Market Street	 
	 	Wilmington, Delaware 19890	 
	 	 	 	 
	Witness:	 	 	 
	 	 	 	 	 



 






    	DD-2-6



    	 



    

 


State of Delaware}


County of }





On ________________________,
before me, _________________________________Notary Public, personally appeared ___________________________, who proved to me on
the basis of satisfactory evidence to be the person whose name is subscribed to the within instrument and acknowledged to me that
he/she executed the same in his/her authorized capacity and that by his/her signature on the instrument the person, or the entity
upon behalf of which the person acted, executed the instrument.


 


I certify under PENALTY OF PERJURY under the laws
of the State of Delaware that the foregoing paragraph is true and correct.


 


Witness my hand and official seal.


	 	 






Notary signature


 






    	DD-2-7



    	 



    

 


EXHIBIT EE


 


FORM OF NON-SERVICED MORTGAGE LOAN NOTIFICATION


 


[Other Servicer]


[ADDRESS]


 


[Other Special Servicer]


[ADDRESS]


 


[Other Trustee]


[ADDRESS]


 


The trust fund formed in connection
with the issuance of the DBJPM 2016-C1 Mortgage Trust Commercial Mortgage Pass-Through Certificates (the “Trust Fund”)
is the Note [__] Holder, as such term is defined under the Agreement between Noteholders, dated as of [__], between [__], as each
of the [__] Holder and the [__] Holder (the “[__] Intercreditor Agreement”). In connection with the deposit
of the Note [__] of the [__] Whole Loan into the Trust Fund, attached is an executed copy of the related pooling and servicing
agreement (the “Pooling and Servicing Agreement”). This Notice is being delivered to you pursuant to Section
3.27(f) of the Pooling and Servicing Agreement. Capitalized terms used but not defined herein have the respective meanings ascribed
to such terms in the Pooling and Servicing Agreement or, if not defined therein, in the [__] Intercreditor Agreement. Contact information
for the Certificate Administrator, the Trustee, the Master Servicer, the Special Servicer, the Operating Advisor, the Asset Representations
Reviewer, the Directing Holder and the Rating Agencies are as set forth on Schedule I attached here.


 


The [__] Whole Loan is being
serviced pursuant to the terms of a pooling and servicing agreement dated [_], between [__], as depositor, [__], as master servicer,
[__], as special servicer, [__], as operating advisor, [__], as asset representations reviewer, and [__], as certificate administrator
and trustee (the “Other Pooling and Servicing Agreement”). [__], as certificate administrator for the registered
holders of the Trust Fund, hereby directs the applicable parties to the Other Pooling and Servicing Agreement as follows:


 


(i)          [__], as master servicer
under the Other Pooling and Servicing Agreement, shall remit no later than one (1) Business Day after the Determination Date all
amounts payable in accordance with the [__] Intercreditor Agreement and the Other Pooling and Servicing Agreement due to the Note
[__] Holder of the [__] Whole Loan on such days as specified in the Other Pooling and Servicing Agreement to Wells Fargo Bank,
National Association, as master servicer of the Trust Fund, to the collection account set forth on Schedule II attached hereto
in accordance with the terms of the Other Pooling and Servicing Agreement; and


 


(ii)          [other Master Servicer]
and [other Certificate Administrator], as applicable, shall forward, deliver or otherwise make available, as the case may be, all
reports,


 






    	EE-1



    	 



    

 


statements,
documents, communications and other information that are to be forwarded, delivered or otherwise made available to the holder
of Note [__] of the [__] Whole Loan in accordance with the [__] Intercreditor Agreement and the Other Pooling and Servicing Agreement
to Wells Fargo Bank, National Association, as master servicer of the Trust Fund, no later than one (1) Business Day after the
Determination Date.


 


You are advised that the Trust
is subject to Regulation AB and Exchange Act reporting and that the Mortgaged Property related to the [__] Mortgage Loan [is][is
not] a Significant Obligor related to the Trust Fund. This notification serves as notice of request for delivery of all Exchange
Act reporting items deliverable to us pursuant to the terms of the Other Pooling and Servicing Agreement.


 


Thank you for your attention
to this matter.


	 	 	 
	 	Wells Fargo Bank, National Association, as Certificate
    Administrator for the Holders of the DBJPM 2016-C1 Mortgage Trust Pass-Through Certificates
	 	 	 
	 	By:	 
	 	 	  [Name]
	 	 	  [Title]



 






    	EE-2



    	 



    

 


SCHEDULE I


 


TO FORM OF NOTICE FROM THE
CERTIFICATE ADMINISTRATOR


REGARDING [NON-SERVICED WHOLE LOAN]


 


Deutsche Mortgage & Asset Receiving
Corporation

60 Wall Street

New York, New York, 10005

Attention: Helaine M. Kaplan


 


Wells Fargo Bank, National Association

Commercial Mortgage Servicing

MAC D1086

550 South Tryon Street, 14th Floor

Charlotte, North Carolina 28202

Attention: DBJPM 2016-C1 Asset Manager


 


with a copy to:


 


Wells Fargo Bank, National Association

Legal Department

301 South College Street

D1053-300





Charlotte, North Carolina 28202

Attention: Commercial Mortgage Servicing Legal Support


 


Midland Loan Services, a Division of PNC Bank, National
Association

10851 Mastin Street, Suite 700

Overland Park, Kansas 66210

Attention: Executive Vice President – Division Head


 


Wilmington Trust, National Association

1100 North Market Street

Wilmington, Delaware 19890

Attention: CMBS Trustee DBJPM 2016-C1

Email: cmbstrustee@wilmingtontrust.com


 


Wells Fargo Bank, National Association

9062 Old Annapolis Road

Columbia, Maryland 21045

Attention: Corporate Trust Services — DBJPM 2016-C1


 


Park Bridge Lender Services LLC

41 Watchung Plaza, Suite 250

Montclair, New Jersey 07042

Attention: DBJPM 2016-C1-Surveillance Manager


 






    	EE-3



    	 



    

 


Eightfold Real Estate Capital, L.P.

1111 Lincoln Road, Suite 802

Miami Beach, Florida 33139

Attention: Brian Tageson


 


DBRS, Inc.

333 West Wacker Drive, Suite 1800

Chicago, Illinois 60606

Attention: Commercial Mortgage Surveillance

Facsimile No.: (312) 332-3492

Email: cmbs.surveillance@dbrs.com


 


Fitch Ratings, Inc.

33 Whitehall Street

New York, New York 10004

Attention: CMBS Surveillance

Email: info.cmbs@fitchratings.com


 


Moody’s Investors Service, Inc.

7 World Trade Center

New York, New York 10007

Attention: Commercial Mortgage Surveillance Group

Facsimile No.: (212) 553-1350

Email:cmbssurveillance@moodys.com


 






    	EE-4



    	 



    

 


SCHEDULE II TO FORM OF NOTICE 


 


FROM THE CERTIFICATE ADMINISTRATOR


REGARDING [NON-SERVICED WHOLE LOAN] 


 


		Account:	Collection Account



 


		Account #:	[______]



 


		Title:	Wells Fargo Bank, National Association, as Master Servicer, on behalf of Wilmington Trust, National
Association, as Trustee, for the benefit of the Holders of Deutsche Mortgage & Asset Receiving Corporation, DBJPM 2016-C1 Mortgage
Trust Commercial Mortgage Pass-Through Certificates, Series 2016-C1 Collection Account



 


		Location:	[___]



 






    	EE-5



    	 



    

 


EXHIBIT FF


 


FORM OF SERVICED COMPANION LOAN NOTEHOLDER CERTIFICATION


 


[Date]


 



Wells Fargo Bank, National Association, as Master Servicer

Commercial Mortgage Servicing

MAC D1086

550 South Tryon Street, 14th Floor

Charlotte, North Carolina 28202

Attention: DBJPM 2016-C1 Asset Manager


 


Wells Fargo Bank, National Association


9062 Old Annapolis Road


Columbia, Maryland 21045


Attention: Corporate Trust Services


 


		Re:	DBJPM 2016-C1 Mortgage Trust – Companion Loan



 


In accordance with the requirements
for obtaining certain information under the Pooling and Servicing Agreement (the “Agreement”), dated as of April
1, 2016, between Deutsche Mortgage & Asset Receiving Corporation, as depositor, Wells Fargo Bank, National Association, as
master servicer, Midland Loan Services, a Division of PNC Bank, National Association, as special servicer, Park Bridge Lender Services
LLC, as operating advisor, Park Bridge Lender Services LLC, as asset representations
reviewer, Wilmington Trust, National Association, as trustee, and Wells Fargo Bank,
National Association, as certificate administrator, paying agent and custodian, with respect to any Companion Loan (as defined
in the Agreement), the undersigned hereby certifies and agrees as follows:


 


1.          The undersigned is a Companion
Loan Noteholder (as defined in the Agreement).


 


2.          The undersigned is requesting
access pursuant to the Agreement to certain information (the “Information”) on the Certificate Administrator’s
Website.


 


In consideration of the disclosure
to the undersigned of the Information, or the access thereto, the undersigned shall keep the Information confidential (except from
such outside persons as are assisting it in making an evaluation in connection with purchasing the related Certificates, from its
accountants and attorneys, and otherwise from such governmental or banking authorities or agencies to which the undersigned is
subject), and such Information shall not, without the prior written consent of the Depositor, be otherwise disclosed by the undersigned
or by its officers, directors, partners, employees, agents or representatives (collectively, the “Representatives”)
in any manner, in whole or in part.


 






    	FF-1



    	 



    

 


The undersigned shall not use
or disclose the Information in any manner which could result in a violation of any provision of the Securities Act of 1933, as
amended (the “Securities Act”), or the Securities Exchange Act of 1934, as amended, or would require registration
of any Certificate not previously registered pursuant to Section 5 of the Securities Act.


 


3.          The undersigned agrees
that each time it accesses the Certificate Administrator’s Website, the undersigned is deemed to have recertified that the
representations contained herein remain true and correct.


 


4.          The undersigned shall be
fully liable for any breach of this agreement by itself or any of its Representatives and shall indemnify the Depositor, the Certificate
Administrator, the Trustee, the Master Servicer, the Special Servicer, the Operating Advisor, the Underwriters, the Initial Purchasers
and the Trust Fund for any loss, liability or expense incurred thereby with respect to any such breach by the undersigned or any
of its Representatives.


 


5.          Capitalized terms used
but not defined herein shall have the respective meanings assigned thereto in the Agreement.


 


IN WITNESS WHEREOF, the undersigned
has caused its name to be signed hereto by its duly authorized officer, as of the day and year written above.


 


	 	[Companion Loan Noteholder]	 
	 	 	 
		By:	 
	 
	 	 	Title:	 
	 	 	Company:	 
	 	 	Phone:	 



 






    	FF-2



    	 



    

 


EXHIBIT GG


 


[RESERVED]


 






    	GG-1



    	 



    

 


EXHIBIT HH


 


FORM OF ASSET REVIEW REPORT BY THE 

ASSET REPRESENTATIONS REVIEWER1


 


To: [Addresses of Recipients]


 


Re:          DBJPM 2016-C1 Mortgage Trust Commercial
Mortgage Pass-Through Certificates, Series 2016-C1


 


Ladies and Gentlemen:


 


In accordance with Section 11.01
of the Pooling and Servicing Agreement, dated as of April 1, 2016 (the “Pooling and Servicing Agreement”),
the undersigned, as asset representations reviewer (the “Asset Representations Reviewer”), has performed an
Asset Review on each Delinquent Mortgage Loan identified by the Certificate Administrator, and is hereby issuing the following
Asset Review Report.


 


		1.	We have performed an Asset Review on each Delinquent Mortgage Loan identified by the Certificate
Administrator and our conclusion is that there is [no evidence of a failed Test][evidence of [•] failed Tests as specifically
detailed on the scorecard attached hereto as Exhibit A] with respect to the Delinquent Mortgage Loans.



 


		2.	A conclusion by the Asset Representations Reviewer of a passed Test or a failed Test shall not
constitute a determination by the Asset Representations Reviewer of (i) the existence or nonexistence of a Material Defect, or
(ii) whether the Trust should enforce any rights it may have against the applicable Mortgage Loan Seller. In addition, the Tests
may not be sufficient to determine every instance of noncompliance.



 


		3.	The Asset Representations Reviewer, other than forwarding this report to the persons listed above,
will not be required to take or participate in any other or further action with respect to the aforementioned Asset Review Report.



 


		4.	Capitalized words and phrases used herein shall have the respective meanings assigned to them in
the Pooling and Servicing Agreement.



 





 



 


1
This report is an indicative report, and the Asset Representations Reviewer will have the ability to modify or alter the organization
and content of this report, subject to compliance with the terms of the Pooling and Servicing Agreement, including without limitation,
provisions relating to Privileged Information.


 






    	HH-1



    	 



    

 





	 	 	 	 	 	 
	 	PARK BRIDGE LENDER SERVICES LLC,
	 	as Asset Representations Reviewer
	 	 	 	 
	 	By:	Park Bridge Advisors LLC, a New York limited liability company, its sole member
	 	 	 	 
	 	 	By:	Park Bridge Financial LLC, a New York limited liability company, its sole member
	 	 	 	 
	 	By:	 	 
	 	Name:	 
	 	Title:	 	 


 






    	HH-2



    	 



    

 


Exhibit A


 


Detailed Scorecard

[Template Example Below]


 


	Test
    Failures
	Loan
    #	Loan
    Name	Mortgage
    Loan Seller	R&W
    #	R&W
    Name	Test
    Description	Findings
	[Insert
    Loan Number]	[Insert
    Loan Name]	[Insert
    Mortgage Loan Seller]	21	Compliance
    with Usury Laws	[Insert
    Test Description]	[Insert
    Test findings]
	31	Single-Purpose
    Entity	 	 



 






    	HH-3



    	 



    

 


EXHIBIT II


 


FORM OF ASSET REVIEW REPORT SUMMARY 

BY THE ASSET REPRESENTATIONS REVIEWER2


 


To:
[Addresses of Recipients]


 


		Re:	DBJPM 2016-C1 Mortgage Trust Commercial Mortgage Pass-Through
Certificates, Series 2016-C1



 


Ladies
and Gentlemen:


 


In accordance with Section 11.01
of the Pooling and Servicing Agreement, dated as of April 1, 2016 (the “Pooling and Servicing Agreement”),
the undersigned, as asset representations reviewer (the “Asset Representations Reviewer”), has performed an
Asset Review on each Delinquent Mortgage Loan identified by the Certificate Administrator, and is hereby issuing the following
Asset Review Report Summary.


 


		1.	We have performed an Asset Review on each Delinquent Mortgage Loan identified by the Certificate
Administrator and our conclusion is that there is [no evidence of a failed Test][evidence of [•] failed Tests as identified
on the summary scorecard attached hereto as Exhibit A] with respect to the Delinquent Mortgage Loans.



 


		2.	A conclusion by the Asset Representations Reviewer of a passed Test or a failed Test shall not
constitute a determination by the Asset Representations Reviewer of (i) the existence or nonexistence of a Material Defect, or
(ii) whether the Trust should enforce any rights it may have against the applicable Mortgage Loan Seller. In addition, the Tests
may not be sufficient to determine every instance of noncompliance.



 


		3.	The Asset Representations Reviewer, other than forwarding this Asset Review Report Summary to the
parties listed above, will not be required to take or participate in any other or further action with respect to the aforementioned
Asset Review Report Summary.



 


		4.	Capitalized words and phrases used herein shall have the respective meanings assigned to them in
the Pooling and Servicing Agreement.



 





 



 


2
This report is an indicative report, and the Asset Representations Reviewer will have the ability to modify or alter the
organization and content of this report, subject to compliance with the terms of the Pooling and Servicing Agreement, including
without limitation, provisions relating to Privileged Information.


 






    	II-1



    	 



    

 





	 	 	 	 	 	 
	 	PARK BRIDGE LENDER SERVICES LLC,
	 	as Asset Representations Reviewer
	 	 	 	 
	 	By:	Park Bridge Advisors LLC, a New York limited liability company, its sole member
	 	 	 	 
	 	 	By:	Park Bridge Financial LLC, a New York limited liability company, its sole member
	 	 	 	 
	 	By:	 	 
	 	Name:	 
	 	Title:	 	 


 






    	II-2



    	 



    

 


Exhibit A


 


Summary Scorecard

[Template Example Below]


 


	Test
    failures
	Loan
    #	Loan
    Name	Mortgage
    Loan Seller	Representations
    and Warranty #	Representation
    and Warranty Name
	[Insert
    Loan #]	[Insert
    Loan Name]	[Insert
    Mortgage Loan Seller]	21	Compliance
    with Usury Laws
	31	Single-Purpose
    Entity



 






    	II-3



    	 



    

 








EXHIBIT JJ


 


ASSET REVIEW PROCEDURES


 


Subject to the Pooling and Servicing
Agreement, this Exhibit sets forth Asset Representations Reviewer’s review procedures for each Delinquent Mortgage Loan based
on the information provided for an Asset Review. Capitalized terms used herein and not defined herein shall have the meanings ascribed
to them in the Pooling and Servicing Agreement. In the event of any conflict between this Exhibit JJ and the terms of the Pooling
and Servicing Agreement, the Pooling and Servicing Agreement shall control and govern the Asset Representation Reviewer’s
responsibilities and duties with respect to Asset Reviews.


 


Call for Review and Collection and Inventory
of Review Materials


 


	Step 1	Asset Representations Reviewer
(“ARR”) receives the following items before beginning its review from the parties specified in Section 11.01
of the Pooling and Servicing Agreement:



 


		■	Notice of Asset Review Trigger (with attachments)



 


		■	Asset Review Vote Election



 


		■	Notice of Affirmative Asset Review Vote



 


		■	List of all Delinquent Mortgage Loans subject to the Asset Review



 


		■	Review Materials for each Delinquent Mortgage Loan via Secure Data Room access, including the Diligence
File



 


		■	Any Unsolicited Information (if applicable)



 


	Step 2	For each Delinquent Mortgage
Loan, ARR inventories all Review Materials to which ARR is provided access in the Secure Data Room to determine what, if any,
Review Materials for such Delinquent Mortgage Loan are missing, using the list of documents in Section 2.01(a)(i) through
Section 2.01(a)(xxi) of this Agreement, any comparable lists included in the related Mortgage Loan Purchase Agreement,
and any closing checklist from the origination of such Delinquent Mortgage Loan, to guide its review and determination



 






    	JJ-1



    	 



    

 


	Step 3	If ARR determines
that the information made available to it in the Secure Data Room with respect to any Delinquent Mortgage Loan is missing any
documents required to complete an Asset Review of such Delinquent Mortgage Loan, ARR shall prepare a list of such missing documents
and notify Master Servicer (with respect to Non-Specially Serviced Loans) and Special Servicer (with respect to Specially Serviced
Loans) or applicable Mortgage Loan Seller of such missing documents. If the Master Servicer or Special Servicer, as applicable,
does not provide such document as provided in the Pooling and Servicing Agreement, the ARR shall notify the related Mortgage Loan
Seller of such missing information



 


Analysis and Testing
of Representations and Warranties


 


	Step 4	For each Delinquent Mortgage
Loan for which ARR has received all Review Materials required to complete an Asset Review of such Delinquent Mortgage Loan, ARR
tests such Delinquent Mortgage Loan for compliance with each representation and warranty made by the related Mortgage Loan Seller
with respect to such Delinquent Mortgage Loan as follows:



 


		■	ARR
                                         reviews each representation and warranty and each item included in the Review Materials
                                         applicable or related to such representation or warranty to determine whether there is
                                         any evidence that such representation or warranty was not true when made by the related
                                         Mortgage Loan Seller



 


		■	For
                                         each representation and warranty, ARR lists



 


		·	all items from the Review Materials reviewed or used in its testing of such representation and warranty



 


		·	whether ARR has determined that there is any evidence that such representation or warranty was not
true when made by the related Mortgage Loan Seller, and



 


		○	if so, stating the aspect of the applicable representation or warranty that does not appear to have
been true when made by the related Mortgage Loan Seller and ARR’s basis for its conclusion



 


		○	completing the Asset Review Report by setting forth, for each Delinquent Mortgage Loan, the information
contemplated herein with respect to each representation and warranty



 


ARR will not attempt (and has no obligation)
to determine the materiality of any potential breach of a representation or warranty that it discovers evidence of during its review
as contemplated herein.


 






    	JJ-2



    	 



    

 





EXHIBIT KK


 


CERTIFICATION TO CERTIFICATE ADMINISTRATOR REQUESTING
ACCESS TO SECURE DATA ROOM


 


Wells Fargo Bank, National Association

9062 Old Annapolis Road

Columbia, Maryland 21045-1951

Attention: Corporate Trust Services – DBJPM 2016-C1

Email:trustadministrationgroup@wellsfargo.com


		Attention:	DBJPM 2016-C1 Mortgage Trust Commercial Mortgage Pass-Through
Certificates, Series 2016-C1



 


In accordance with the requirements
for obtaining access to the Secure Data Room pursuant to the Pooling and Servicing Agreement, dated as of April 1, 2016 (the “Pooling
and Servicing Agreement”), by and among Deutsche Mortgage & Asset Receiving Corporation, as depositor, Wells Fargo
Bank, National Association, as master servicer, Midland Loan Services, a Division of PNC Bank, National Association, as special
servicer, Park Bridge Lender Services LLC, as operating advisor, Park Bridge Lender Services LLC, as asset representations reviewer,
Wilmington Trust, National Association, as trustee, and Wells Fargo Bank, National Association, as certificate administrator, paying
agent and custodian, with respect to the certificates (the “Certificates”), the undersigned hereby certifies
and agrees as follows:


 


1.          The undersigned is an authorized
representative of [________________________].


 


2.          The undersigned acknowledges
and agrees that (a) access to the Secure Data Room is being granted to it solely for purposes of the undersigned carrying out its
obligations under the Pooling and Servicing Agreement (b) it will not disseminate or otherwise make information contained on the
Secure Data Room available to any other person except in accordance with the Pooling and Servicing Agreement or otherwise with
the written consent of the Depositor and (c) it will only access information relating to the Mortgage Loans to which the Asset
Review relates.


 


3.          The undersigned agrees
that each time it accesses the Secure Data Room, the undersigned is deemed to have recertified that the representations above remains
true and correct.


 






    	KK-1



    	 



    

 


4.          [The undersigned is not
a Certificateholder, a beneficial owner or a prospective purchaser of any Certificate.]*


 


BY ITS CERTIFICATION HEREOF,
the undersigned has made the representations above and shall have caused, or shall be deemed to have caused its name to be signed
hereto by its duly authorized signatory, as of the date certified.











	 	 	 
	 	[NAME OF PARTY],
as [role]
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:





 













Dated: _________________


 


[Deutsche
Mortgage & Asset Receiving Corporation]‡














	 	 	 
	By:	 	 
	 	Name:	 
	 	Title:	 





 





 






 

‡     Required
to the extent that a party other than the Asset Representations Reviewer is identified by the Depositor as needing access to the
Secure Data Room.


 




    	KK-2



    	 



    







 





EXHIBIT LL


 


FORM OF NOTICE OF [ADDITIONAL DELINQUENT MORTGAGE
LOAN][CESSATION OF DELINQUENT MORTGAGE LOAN][CESSATION OF ASSET REVIEW TRIGGER]


 


[Date]


 


	Wells Fargo Bank, National Association

Commercial Mortgage Servicing

MAC D1086-120, 550 South Tryon Street, 14th Floor

Charlotte, North Carolina  28202

Attention:  DBJPM 2016-C1 Asset Manager	 	Park Bridge Lender Services LLC

41 Watchung Plaza, Suite 250

Montclair, New Jersey 07042

Attention:  DBJPM 2016-C1 Surveillance Manager (with a copy sent contemporaneously via email to cmbs.notices@parkbridgefinancial.com)
	 	 	 
	Midland Loan Services, a Division of PNC Bank, National Association

10851 Mastin Street, Suite 700

Overland Park, Kansas 66210

Attention: Executive Vice President – Division Head	 	 
	 	 	 


		Attention:	DBJPM 2016-C1 Mortgage Trust Commercial Mortgage Pass-Through Certificates, Series 2016-C1



 


In accordance with Section 11.01(a)
of the Pooling and Servicing Agreement, dated as of April 1, 2016 (the “Pooling and Servicing Agreement”),
by and among Deutsche Mortgage & Asset Receiving Corporation, as depositor, Wells Fargo Bank, National Association, as master
servicer, Midland Loan Services, a Division of PNC Bank, National Association, as special servicer, Park Bridge Lender Services
LLC, as operating advisor, Park Bridge Lender Services LLC, as asset representations reviewer, Wilmington Trust, National Association,
as trustee, and Wells Fargo Bank, National Association, as certificate administrator (in such capacity, the “Certificate
Administrator”), paying agent and custodian, the Certificate Administrator hereby notifies you that as of [RELATED DISTRIBUTION
DATE]:


 


1.          _____ An additional
Mortgage Loan has become a Delinquent Mortgage Loan.


 


2.          _____ A Mortgage Loan
has ceased to be a Delinquent Mortgage Loan.


 


3.          _____An Asset Review
Trigger has ceased to exist.


 


(check all that apply)


 






    	LL-1



    	 



    

 


Capitalized terms used but not
defined herein have the respective meanings given to them in the Pooling and Servicing Agreement.


 











	 	Wells Fargo Bank, National Association, as
Certificate Administrator for the Holders of the DBJPM 2016-C1 Mortgage Trust Pass-Through Certificates
	 	 
	 	By:	 
	 	 	[Name]
	 	 	[Title]












 






    	LL-2



    	 



    

 





SCHEDULE I


 


DIRECTING HOLDERS


 


	Mortgage Loan	 	Directing Holder	 	Contact Information
	All Mortgage Loans (other than the 787 Seventh Avenue Mortgage Loan, the Naples Grande Beach Resort Mortgage Loan, the 225 Liberty Street Mortgage Loan, the 7700 Parmer Mortgage Loan, the Columbus Park Crossing Mortgage Loan and the Hagerstown Premium Outlets Mortgage Loan)	 	Eightfold Real Estate Capital, L.P.	 	Eightfold Real Estate Capital, L.P.

1111 Lincoln Road, Suite 802

Miami Beach, Florida 33139

Attention: Brian Tageson
	 	 	 	 	 
	Hagerstown Premium Outlets Mortgage Loan (prior to the applicable Servicing Shift Securitization Date)	 	German American Capital Corporation	 	German American Capital Corporation

60 Wall Street

New York, New York  10005

Attention:  Lainie Kaye





 






    	Sch. I-1



    	 



    

 


SCHEDULE II


 


SERVICING CRITERIA TO BE ADDRESSED IN ASSESSMENT
OF COMPLIANCE


 


The assessment of compliance
to be delivered shall address, at a minimum, the criteria identified below as “Relevant Servicing Criteria” (with each
Servicing Function Participant deemed to be responsible for the items applicable to the functions it is performing and for which
the party that retained such Servicing Function Participant is responsible):


 


	 	Relevant Servicing Criteria	Applicable

 Party(ies)
	Reference	Criteria	 
	 	General Servicing Considerations	 
	1122(d)(1)(i)	Policies and procedures are instituted to monitor any performance or other triggers and events of default in accordance with the transaction agreements.	Cert. Admin.

Master Servicer

Special Servicer
	1122(d)(1)(ii)	If any material servicing activities are outsourced to third parties, policies and procedures are instituted to monitor the third party’s performance and compliance with such servicing activities.	Cert. Admin.

Master Servicer

Special Servicer
	1122(d)(1)(iii)	Any requirements in the transaction agreements to maintain a back-up servicer for the mortgage loans are maintained.	N/A
	1122(d)(1)(iv)	A fidelity bond and errors and omissions policy is in effect on the party participating in the servicing function throughout the reporting period in the amount of coverage required by and otherwise in accordance with the terms of the transaction agreements.	Master Servicer

Special Servicer
	1122(d)(1)(v)	Aggregation of information, as applicable, is mathematically accurate and the information conveyed accurately reflects the information.	Master Servicer

Special Servicer

Certificate Administrator
	 	Cash Collection and Administration	 
	1122(d)(2)(i)	Payments on mortgage loans are deposited into the appropriate custodial bank accounts and related bank clearing accounts no more than two business days following receipt, or such other number of days specified in the transaction agreements.	Master Servicer

Special Servicer



 






    	Sch. II-1



    	 



    

 



	 	Relevant Servicing Criteria	Applicable

 Party(ies)
	Reference	Criteria	 
	1122(d)(2)(ii)	Disbursements made via wire transfer on behalf of an obligor or to an investor are made only by authorized personnel.	Cert. Admin.
	1122(d)(2)(iii)	Advances of funds or guarantees regarding collections, cash flows or distributions, and any interest or other fees charged for such advances, are made, reviewed and approved as specified in the transaction agreements.	Trustee

Master Servicer

Special Servicer
	1122(d)(2)(iv)	The related accounts for the transaction, such as cash reserve accounts or accounts established as a form of overcollateralization, are separately maintained (e.g., with respect to commingling of cash) as set forth in the transaction agreements.	Cert. Admin.

Master Servicer

Special Servicer
	1122(d)(2)(v)	Each custodial account is maintained at a federally insured depository institution as set forth in the transaction agreements.  For purposes of this criterion, “federally insured depository institution” with respect to a foreign financial institution means a foreign financial institution that meets the requirements of Rule 13k-1(b)(1) of the Securities Exchange Act.	Cert. Admin.

Master Servicer

Special Servicer
	1122(d)(2)(vi)	Unissued checks are safeguarded so as to prevent unauthorized access.	Cert. Admin.

Master Servicer

Special Servicer
	1122(d)(2)(vii)	Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts.  These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items.  These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction agreements.	Cert. Admin.

Master Servicer

Special Servicer
	 	Investor Remittances and Reporting	 



 






    	Sch. II-2



    	 



    

 






	 	Relevant Servicing Criteria	Applicable

 Party(ies)
	Reference	Criteria	 
	1122(d)(3)(i)	Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements.  Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors’ or the trustee’s records as to the total unpaid principal balance and number of mortgage loans serviced by the Master Servicer.	Cert. Admin.

Operating Adv. 

(excluding clauses (C) and (D) in the case of the Operating Adv.)
	1122(d)(3)(ii)	Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other terms set forth in the transaction agreements.	Cert. Admin.
	1122(d)(3)(iii)	Disbursements made to an investor are posted within two business days to the Master Servicer’s investor records or Certificate Administrator’s investor records, or such other number of days specified in the transaction agreements.	Cert. Admin.

 
	1122(d)(3)(iv)	Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank statements.	Cert. Admin.
	 	Pool Asset Administration	 
	1122(d)(4)(i)	Collateral or security on mortgage loans is maintained as required by the transaction agreements or related mortgage loan documents.	Custodian

Master Servicer

Special Servicer
	1122(d)(4)(ii)	Mortgage loan and related documents are safeguarded as required by the transaction agreements.	Custodian
	1122(d)(4)(iii)	Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction agreements.	Master Servicer

Special Servicer



 






    	Sch. II-3



    	 



    

 



	 	Relevant Servicing Criteria	Applicable

Party(ies)
	Reference	Criteria	 
	1122(d)(4)(iv)	Payments on mortgage loans, including any payoffs, made in accordance with the related mortgage loan documents are posted to the Master Servicer’s obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related mortgage loan documents.	Master Servicer
	1122(d)(4)(v)	The Master Servicer’s records regarding the mortgage loans agree with the Master Servicer’s records with respect to an obligor’s unpaid principal balance.	Master Servicer
	1122(d)(4)(vi)	Changes with respect to the terms or status of an obligor’s mortgage loans (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool asset documents.	Master Servicer

Special Servicer
	1122(d)(4)(vii)	Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the transaction agreements.	Special Servicer

Operating Adv.
	1122(d)(4)(viii)	Records documenting collection efforts are maintained during the period a mortgage loan is delinquent in accordance with the transaction agreements.  Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity’s activities in monitoring delinquent mortgage loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment).	Master Servicer

Special Servicer
	1122(d)(4)(ix)	Adjustments to interest rates or rates of return for mortgage loans with variable rates are computed based on the related mortgage loan documents.	Master Servicer



 






    	Sch. II-4



    	 



    

 



	 	Relevant Servicing Criteria	Applicable

 Party(ies)
	Reference	Criteria	 
	1122(d)(4)(x)	Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor’s mortgage loan documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable mortgage loan documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage loans, or such other number of days specified in the transaction agreements.	Master Servicer
	1122(d)(4)(xi)	Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the transaction agreements.	Master Servicer
	1122(d)(4)(xii)	Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer’s funds and not charged to the obligor, unless the late payment was due to the obligor’s error or omission.	Master Servicer
	1122(d)(4)(xiii)	Disbursements made on behalf of an obligor are posted within two business days to the obligor’s records maintained by the servicer, or such other number of days specified in the transaction agreements.	Master Servicer
	1122(d)(4)(xiv)	Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the transaction agreements.	Master Servicer
	1122(d)(4)(xv)	Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the transaction agreements.	N/A


 


At all times that the Master
Servicer and Special Servicer are the same entity, the Master Servicer and the Special Servicer may provide a combined assessment
of compliance in respect of their combined responsibilities under Section 1122 of Regulation AB.


 






    	Sch. II-5



    	 



    

 





SCHEDULE III


 


CLASS A-SB PLANNED PRINCIPAL BALANCE SCHEDULE


 


	Period 
	Balance($) 
	 	Period 
	Balance($)



	1	46,052,000.00	 	59	46,051,516.26	 
	2	46,052,000.00	 	60	45,404,020.49	 
	3	46,052,000.00	 	61	44,651,915.08	 
	4	46,052,000.00	 	62	43,959,510.78	 
	5	46,052,000.00	 	63	43,201,649.89	 
	6	46,052,000.00	 	64	42,503,274.52	 
	7	46,052,000.00	 	65	41,802,024.07	 
	8	46,052,000.00	 	66	41,035,567.09	 
	9	46,052,000.00	 	67	40,328,273.62	 
	10	46,052,000.00	 	68	39,555,944.44	 
	11	46,052,000.00	 	69	38,842,558.81	 
	12	46,052,000.00	 	70	38,126,236.18	 
	13	46,052,000.00	 	71	37,221,470.28	 
	14	46,052,000.00	 	72	36,498,471.64	 
	15	46,052,000.00	 	73	35,710,881.20	 
	16	46,052,000.00	 	74	34,981,662.65	 
	17	46,052,000.00	 	75	34,188,028.11	 
	18	46,052,000.00	 	76	33,452,539.05	 
	19	46,052,000.00	 	77	32,714,021.81	 
	20	46,052,000.00	 	78	31,911,351.42	 
	21	46,052,000.00	 	79	31,166,488.04	 
	22	46,052,000.00	 	80	30,357,650.88	 
	23	46,052,000.00	 	81	29,606,389.74	 
	24	46,052,000.00	 	82	28,852,035.35	 
	25	46,052,000.00	 	83	27,912,776.47	 
	26	46,052,000.00	 	84	27,151,446.87	 
	27	46,052,000.00	 	85	26,326,608.92	 
	28	46,052,000.00	 	86	25,558,747.61	 
	29	46,052,000.00	 	87	24,727,562.58	 
	30	46,052,000.00	 	88	23,953,116.42	 
	31	46,052,000.00	 	89	23,175,481.36	 
	32	46,052,000.00	 	90	22,334,798.83	 
	33	46,052,000.00	 	91	21,550,499.42	 
	34	46,052,000.00	 	92	20,703,340.92	 
	35	46,052,000.00	 	93	19,912,322.94	 
	36	46,052,000.00	 	94	19,118,047.69	 
	37	46,052,000.00	 	95	18,201,888.91	 
	38	46,052,000.00	 	96	17,400,569.15	 
	39	46,052,000.00	 	97	16,536,871.38	 
	40	46,052,000.00	 	98	15,728,694.60	 
	41	46,052,000.00	 	99	14,858,333.61	 
	42	46,052,000.00	 	100	14,043,244.01	 
	43	46,052,000.00	 	101	13,224,797.81	 
	44	46,052,000.00	 	102	12,344,457.68	 
	45	46,052,000.00	 	103	11,519,015.12	 
	46	46,052,000.00	 	104	10,631,876.39	 
	47	46,052,000.00	 	105	9,799,380.55	 
	48	46,052,000.00	 	106	8,963,456.29	 
	49	46,052,000.00	 	107	7,950,217.43	 
	50	46,052,000.00	 	108	7,106,676.17	 
	51	46,052,000.00	 	109	6,201,950.29	 
	52	46,052,000.00	 	110	5,351,208.50	 
	53	46,052,000.00	 	111	4,439,485.60	 
	54	46,052,000.00	 	112
    	3,581,484.69	 
	55	46,052,000.00	 	113	2,719,950.12	 
	56	46,052,000.00	 	114	1,797,739.49	 
	57	46,052,000.00	 	115	928,857.99	 
	58	46,052,000.00	 	116
    and thereafter	0	 





 






    	Sch. III-1



    	 



    





 


SCHEDULE
IV


 


ADDITIONAL
FORM 10-D DISCLOSURE 


 


The
parties identified in the “Party Responsible” column (with each Servicing Function Participant deemed to be responsible
for the following items for which the party that retained such Servicing Function Participant is responsible) are obligated pursuant
to Section 10.06 of the Pooling and Servicing Agreement to disclose to the Depositor and the Certificate Administrator any information
described in the corresponding Form 10-D Item described in the “Item on Form 10-D” column to the extent such party
has actual knowledge (and in the case of financial statements required to be provided in connection with Item 6 below, possession)
of such information (other than information as to itself). Each of the Certificate Administrator, the Paying Agent, the Trustee,
the Master Servicer and the Special Servicer (in its capacity as such) shall be entitled to rely on the accuracy of the Prospectus
(other than information with respect to itself that is set forth in or omitted from the Prospectus), in the absence of specific
written notice to the contrary from the Depositor or Mortgage Loan Sellers. Each of the Certificate Administrator, the Paying
Agent, the Trustee, the Master Servicer and the Special Servicer (in its capacity as such) shall be entitled to conclusively assume
that there is no “significant obligor” other than a party identified as such in the Prospectus. For this DBJPM 2016-C1
Mortgage Trust Pooling and Servicing Agreement, each of the Certificate Administrator, the Paying Agent, the Trustee, the Master
Servicer and the Special Servicer (in its capacity as such) shall be entitled to assume that there is no provider of credit enhancement,
liquidity or derivative instruments within the meaning of Items 1114 or 1115 of Regulation AB other than a party identified as
such in the Prospectus.


 





	Item on Form 10-D	Party Responsible
	Item 1: Distribution and Pool Performance Information: Only with respect to any information required by 1121 which is NOT included on the Distribution Date Statement	
        ·     Each
        Master Servicer (only with respect to 1121(a)(12) as to non Specially Serviced Loans)

        ·     Special
        Servicer (only with respect to 1121(a)(12) as to Specially Serviced Loans)

        ·     Depositor

        ·     Certificate
        Administrator

        ·     Asset
        Representations Reviewer

        ·     Each
        Mortgage Loan Seller (only with respect to 1121(c)(2))

	Item 2: Legal Proceedings:

Item 1117 of Regulation AB (to the extent material to Certificateholders)	
        ·     Master
        Servicer (as to itself)

        ·     Special
        Servicer (as to itself)

        ·     Trustee
        (as to itself)

        ·     Certificate
        Administrator (as to itself)

        ·     Depositor
        (as to itself)



 






    	Sch. IV-1



    	 



    

 





	 	
        ·     Any
        other Reporting Servicer (as to itself)

        ·     Trustee/Certificate
        Administrator/Master Servicer/Depositor/Special Servicer as to the Trust

        ·     Each
        Mortgage Loan Seller

        ·     Originators
        under Item 1110 of Regulation AB (to be provided by the Depositor)

        ·     Party
        under Item 1100(d)(1) of Regulation AB (to be provided by the Depositor)

	Item 3: Sale of Securities and Use of Proceeds	·     Depositor
	Item 4: Defaults Upon Senior Securities	
        ·     Certificate
        Administrator

        ·     Trustee

	Item 5: Submission of Matters to a Vote of Security Holders	·     Certificate Administrator
	Item 6: Significant Obligors of Pool Assets	·     Master Servicer
	Item 7: Change in Sponsor Interest in the Securities:

Item 1124 of Regulation AB	·     Each Mortgage Loan Seller
	Item 8: Significant Enhancement Provider Information	·     N/A
	Item 9: Other Information (information required to be disclosed on Form 8-K that was not properly disclosed)	·     Any party responsible for disclosure items on Form 8-K to the extent of such items
	Item 10: Exhibits	
        ·     Depositor
        (exhibits required by Item 601 of Regulation S-K, such as material agreements)

        ·     Certificate
        Administrator (Monthly Statement to Certificateholders)



 






    	Sch. IV-2



    	 



    

 


SCHEDULE
V


 


ADDITIONAL
FORM 10-K DISCLOSURE


 


The
parties identified in the “Party Responsible” column (with each Servicing Function Participant deemed to be responsible
for the following items for which the party that retained such Servicing Function Participant is responsible) are obligated pursuant
to Section 10.07 of the Pooling and Servicing Agreement to disclose to the Depositor and the Certificate Administrator any information
described in the corresponding Form 10-K Item described in the “Item on Form 10-K” column to the extent such party
has actual knowledge (and in the case of financial statements required to be provided in connection with 1112(b) below, possession)
of such information (other than information as to itself). Each of the Certificate Administrator, the Paying Agent, the Trustee,
the Master Servicer and the Special Servicer (in its capacity as such) shall be entitled to rely on the accuracy of the Prospectus
(other than information with respect to itself that is set forth in or omitted from the Prospectus), in the absence of specific
written notice to the contrary from the Depositor or Mortgage Loan Sellers. Each of the Certificate Administrator, the Paying
Agent, the Trustee, the Master Servicer and the Special Servicer (in its capacity as such) shall be entitled to conclusively assume
that there is no “significant obligor” other than a party identified as such in the Prospectus. For this DBJPM 2016-C1
Mortgage Trust Pooling and Servicing Agreement, each of the Certificate Administrator, the Paying Agent, the Trustee, the Master
Servicer and the Special Servicer (in its capacity as such) shall be entitled to assume that there is no provider of credit enhancement,
liquidity or derivative instruments within the meaning of Items 1114 or 1115 of Regulation AB other than a party identified as
such in the Prospectus.


 





	Item on Form 10-K	Party Responsible
	Item 1B: Unresolved Staff Comments	·     Depositor
	Item 9B: Other Information (information required to be disclosed on Form 8-K that was not properly disclosed)	·     Any party responsible for disclosure items on Form 8-K to the extent of such items
	Item 15: Exhibits, Financial Statement Schedules	
        ·     Certificate
        Administrator

        ·     Depositor

	Additional Item:

Disclosure per Item 1112(b)(1) of Regulation AB	·     Master Servicer
	Additional Item:

Disclosure per Items 1114(b)(2) and 1115(b) of Regulation AB	·     N/A


 






    	Sch. V-1



    	 



    

 





	Additional Item:

Disclosure per Item 1117 of Regulation AB (to the extent material to Certificateholders)	
        ·     Master
        Servicer (as to itself)

        ·     Special
        Servicer (as to itself)

        ·     Certificate
        Administrator (as to itself)

        ·     Trustee
        (as to itself)

        ·     Depositor
        (as to itself)

        ·     Operating
        Advisor (as to itself)

        ·     Asset
        Representations Reviewer (as to itself)

        ·     Any
        other Reporting Servicer (as to itself)

        ·     Trustee/Certificate
        Administrator/Master Servicer/Depositor/Special Servicer as to the Trust

        ·     Each
        Mortgage Loan Seller

        ·     Originators
        under Item 1110 of Regulation AB (to be provided by the Depositor)

        ·     Party
        under Item 1100(d)(1) of Regulation AB (to be provided by the Depositor)



 






    	Sch. V-2



    	 



    

 





	Additional Item:

Disclosure per Item 1119 of Regulation AB	
        ·     Master
        Servicer (as to itself) (to the extent material to Certificateholders and only as to affiliations under 1119(a) with the Trustee,
        Certificate Administrator, Special Servicer or a sub-servicer meeting any of the descriptions in Item 1108(a)(3))

        ·     Special
        Servicer (as to itself) (to the extent material to Certificateholders and only as to affiliations under 1119(a) with the Trustee,
        Certificate Administrator, Master Servicer or a sub-servicer meeting any of the descriptions in Item 1108(a)(3))

        ·     Certificate
        Administrator (as to itself) (to the extent material to Certificateholders)

        ·     Trustee
        (as to itself) (to the extent material to Certificateholders)

        ·     Depositor
        (as to itself)

        ·     Depositor
        (as to the Trust)

        ·     Each
        Mortgage Loan Seller

        ·     Operating
        Advisor (as to itself)

        ·     Asset
        Representations Reviewer (as to itself)

        ·     Originators
        under Item 1110 of Regulation AB (to be provided by the Depositor)

        ·     Party
        under Item 1100(d)(1) of Regulation AB (to be provided by the Depositor)



 






    	Sch. V-3



    	 



    

  



SCHEDULE
VI


 


FORM
8-K DISCLOSURE INFORMATION


 


The
parties identified in the “Party Responsible” column (with each Servicing Function Participant deemed to be responsible
for the following items for which the party that retained such Servicing Function Participant is responsible) are obligated pursuant
to Section 10.09 of the Pooling and Servicing Agreement to report to the Depositor and the Certificate Administrator the occurrence
of any event described in the corresponding Form 8-K Item described in the “Item on Form 8-K” column to the extent
such party has actual knowledge of such information (other than information as to itself). Each of the Certificate Administrator,
the Paying Agent, the Trustee, the Master Servicer and the Special Servicer (in its capacity as such) shall be entitled to rely
on the accuracy of the Prospectus (other than information with respect to itself that is set forth in or omitted from the Prospectus),
in the absence of specific written notice to the contrary from the Depositor or Mortgage Loan Sellers. Each of the Certificate
Administrator, the Paying Agent, the Trustee, the Master Servicer and the Special Servicer (in its capacity as such) shall be
entitled to conclusively assume that there is no “significant obligor” other than a party identified as such in the
Prospectus. For this DBJPM 2016-C1 Mortgage Trust Pooling and Servicing Agreement, each of the Certificate Administrator, the
Paying Agent, the Trustee, the Master Servicer and the Special Servicer (in its capacity as such) shall be entitled to assume
that there is no provider of credit enhancement, liquidity or derivative instruments within the meaning of Items 1114 or 1115
of Regulation AB other than a party identified as such in the Prospectus.


 





	Item on Form 8-K	Party Responsible 
	Item 1.01- Entry into a Material Definitive Agreement



Disclosure is required regarding entry into or amendment of any definitive agreement that is material to the securitization, even if depositor is not a party. 



Examples: servicing agreement, custodial agreement.



Note: disclosure not required as to definitive agreements that are fully disclosed in the prospectus	·     Trustee/Certificate Administrator/Master Servicer/Depositor/Special Servicer as to the Trust (only as to the agreements such entity is a party to or entered into on behalf of the Trust)
	Item 1.02- Termination of a Material Definitive Agreement



Disclosure is required regarding termination of any definitive agreement that is material to the securitization (other than expiration in accordance with its terms), even if depositor is not a party. 	·     Trustee/Certificate Administrator/Master Servicer/Depositor/Special Servicer as to the Trust (only as to the agreements such entity is a party to or entered into on behalf of the Trust)


 






    	Sch. VI-1



    	 



    

 





	Item on Form 8-K	Party Responsible 
	
        Examples: servicing agreement, custodial agreement.
	 
	Item 1.03- Bankruptcy or Receivership	
        ·     Depositor

        ·     Each
        Mortgage Loan Seller

	Item 2.04- Triggering Events that Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement



Includes an early amortization, performance trigger or other event, including event of default, that would materially alter the payment priority/distribution of cash flows/amortization schedule.



Disclosure will be made of events other than waterfall triggers which are disclosed in the monthly statements to the certificateholders.	
        ·     Depositor

        ·     Certificate
        Administrator

	Item 3.03- Material Modification to Rights of Security Holders



Disclosure is required of any material modification to documents defining the rights of Certificateholders, including the Pooling and Servicing Agreement.	·     Certificate Administrator
	Item 5.03- Amendments of Articles of Incorporation or Bylaws; Change of Fiscal Year



Disclosure is required of any amendment “to the governing documents of the issuing entity”.	·     Depositor
	Item 5.06 – Change in Shell Company Status	·     Depositor
	Item 5.07 – Submission of Matters to a Vote of Security Holders	·     Depositor
	Item 5.08 – Shareholder Director Nomination	·     Depositor
	Item 6.01- ABS Informational and Computational Material	·     Depositor
	Item 6.02- Change of Servicer or Trustee 



Requires disclosure of any removal, replacement, substitution or addition of any master servicer, affiliated servicer, other servicer servicing 10% or more of pool assets at time of report, other material servicers or trustee.	
        ·     Master
        Servicer (as to itself or a servicer retained by it)

        ·     Special
        Servicer (as to itself or a servicer retained by it)

        ·     Certificate
        Administrator (as to itself or an entity retained by it)

        ·     Trustee



 






    	Sch. VI-2



    	 



    

 





	Item on Form 8-K	Party Responsible 
	 	·     Depositor
	Reg AB disclosure about any new servicer or master servicer is also required.	·     Master Servicer or Special Servicer, as applicable
	Reg AB disclosure about any new Trustee is also required.	·     Trustee
	Reg AB disclosure about any new Certificate Administrator is also required.	·     Certificate Administrator
	Item 6.03- Change in Credit Enhancement or Other External Support	       N/A
	Item 6.04- Failure to Make a Required Distribution	·     Certificate Administrator
	Item 6.05- Securities Act Updating Disclosure



If any material pool characteristic differs by 5% or more at the time of issuance of the securities from the description in the final prospectus, provide updated Reg AB disclosure about the actual asset pool.



If there are any new servicers or originators required to be disclosed under Regulation AB as a result of the foregoing, provide the information called for in Items 1108 and 1110 respectively.	·     Depositor
	Item 7.01- Regulation FD Disclosure	·     Depositor
	Item 8.01 – Other Events



Any event, with respect to which information is not otherwise called for in Form 8-K, that the registrant deems of importance to certificateholders.	·     Depositor
	Item 9.01 – Financial Statements and Exhibits	·     Responsible party for reporting/disclosing the financial statement or exhibit


 






    	Sch. VI-3



    	 



    

  



SCHEDULE
VII


 


INITIAL
SERVICED COMPANION LOAN NOTEHOLDERS


 


	Serviced
    Companion

Loan	 	Initial
    Noteholders	 	Address
	Williamsburg
    Premium Outlets	 	German
        American Capital Corporation (Note A-2 Holder, Note A-5 Holder)

         
	 	German
        American Capital Corporation

        60 Wall Street

        New York, New York 10005

        Attention: Lainie Kaye

         

	600
    Broadway	 	The
        Bank of New York Mellon (Note A-2-2 Holder)

         
	 	The
        Bank of New York Mellon

        225 Liberty Street, 19th Floor

        New York, New York 10286

        Attention: George Passaro

        Email: george.passaro@bnymellon.com

         

	 	 	German
        American Capital Corporation (Note A-6 Holder)

         
	 	German
        American Capital Corporation

        60 Wall Street

        New York, New York 10005

        Attention: Lainie Kaye

         

	SLS
    South Beach	 	JPMorgan
    Chase Bank, National Association (Note A-2 Holder)	 	JPMorgan
        Chase Bank, National Association

        383 Madison Avenue

        New York, New York 10179

        Attention: Joseph E. Geoghan

        Facsimile No.: (212) 272-7047

         

        -and-

         

        JPMorgan
Chase Bank, National Association

383 Madison Avenue

New York, New York 10179

Attention: Nancy Alto

Facsimile No.: (212) 623-4779




 






    	Sch. VII-1



    	 



    

  


		 		 	with
a copy to:

         

        Cadwalader,
Wickersham & Taft LLP 

        200
Liberty Street 

        New
        York, NY 10281

Attention: Lisa Pauquette

        Facsimile No.: (212) 504-6666

         

	Hagerstown
    Premium Outlets (prior to the applicable Servicing Shift Securitization Date)	 	German
        American Capital Corporation (Note A-2 Holder, Note A-3 Holder, Note A-4 Holder)

         
	 	German
        American Capital Corporation

        60 Wall Street

        New York, New York 10005

        Attention: Lainie Kaye

         

	Hall
    Office Park A1/G1/G3	 	German
        American Capital Corporation (Note A-2 Holder)

         
	 	German
        American Capital Corporation

        60 Wall Street

        New York, New York 10005

        Attention: Lainie Kaye

         

	Renaissance
    Premium Outlets	 	JPMorgan
    Chase Bank, National Association (Note A-2 Holder)	 	JPMorgan
        Chase Bank, National Association

        383 Madison Avenue

        New York, New York 10179

        Attention: Joseph E. Geoghan

        Facsimile No.: (212) 272-7047

         

        -and-

         

        JPMorgan
        Chase Bank, National Association

        383 Madison Avenue

        New York, New York 10179

        Attention: Nancy Alto

        Facsimile No.: (212) 623-4779

         

        with
        a copy to:

         

        Cadwalader,
Wickersham & Taft LLP




 






    	Sch. VII-2



    	 



    

 


 


 


		 		 	200
Liberty Street

        New
York, NY 10281

Attention: Lisa Pauquette

Facsimile No.: (212) 504-6666




 






    	Sch. VII-3



    	 



    

 


SCHEDULE
VIII


 


CONTACT
INFORMATION FOR THE OTHER 17G-5 INFORMATION PROVIDER


 


	Other
    17g-5

Information Provider	 	Transaction	 	Contact
    Information
	Deutsche
    Bank Trust Company Americas	 	COMM
    2016-787S	 	17g5information.provider@db.com

(in an electronic format readable and uploadable (that is not locked
or corrupted) on the 17g-5 Information Provider’s system, specifically with a subject reference of “COMM 2016-787S”
and an identification of the type of information being provided in the body of such electronic mail)

	 	 	 	 	 
	Wells
    Fargo Bank, National Association	 	JPMBB
    2016-C1	 	17g5informationprovider@wellsfargo.com


(specifically with a subject reference of “JPMBB 2016-C1” and an identification of the type of information being
provided in the body of such electronic mail)

	 	 	 	 	 
	Citibank,
    N.A.	 	225
Liberty Street Trust 2016-255L 
	 	cgcmtcmbs@citi.com

	 	 	 	 	 
	Wells
    Fargo Bank, National Association	 	JPMCC
    2015-JP1	 	17g5informationprovider@wellsfargo.com


(specifically with a subject reference of “JPMCC 2015-JP1” and an identification of the type of information being
provided in the body of such electronic mail)

	 	 	 	 	 
	Deutsche
    Bank Trust Company Americas	 	COMM
    2016-DC2	 	17g5information.provider@db.com

(in an electronic format readable and uploadable (that is not locked
or corrupted) on the 17g-5 Information Provider’s system, specifically with a subject reference of “COMM 2016-DC2
Mortgage Trust” and an identification of the type of information being provided in the body of such electronic mail) (in
an




 






    	Sch. VIII-1



    	 



    

 



		 		 	electronic format readable
and uploadable (that is not locked or corrupted) on the 17g-5 Information Provider’s system, specifically with a subject
reference of “COMM 2016-DC2 Mortgage Trust” and an identification of the type of information being provided in the
body of such electronic mail)


 


    	Sch. VIII-2