Servicing Agreement



 Exhibit 10.3 
 CONFORMED COPY 
  
  
 MIDLAND LOAN SERVICES, INC., 
 as Servicer,

 and 
 THE BANK OF NEW YORK
MELLON TRUST COMPANY, N.A., 
 as Indenture Trustee, 
 SERVICING AGREEMENT 
 Dated as of July 31, 2009 
 Senior Secured Notes 
  
  







 TABLE OF CONTENTS 
  


			
	 	  	Page
	ARTICLE I	  	
	DEFINITIONS; GENERAL INTERPRETIVE PRINCIPLES	  	
	 SECTION 1.01. Defined Terms.
	  	1
	 SECTION 1.02. General Interpretive Principles.
	  	6
	
	ARTICLE II
	DUTIES OF THE SERVICER; REPRESENTATIONS AND WARRANTIES OF THE SERVICER
		
	 SECTION 2.01. Servicer to Cooperate with Indenture Trustee.
	  	7
	 SECTION 2.02. Servicer Entitled to Rely on Information from Manager.
	  	7
	 SECTION 2.03. Taxes, Assessments and Similar Items; Servicing Advances.
	  	8
	 SECTION 2.04. Servicing and Special Servicing Compensation; Interest on and Reimbursement of Servicing Advances; Payment of Certain
Expenses.
	  	10
	 SECTION 2.05. Tower Site Inspections.
	  	12
	 SECTION 2.06. Annual Statements as to Compliance.
	  	12
	 SECTION 2.07. Representations and Warranties of the Servicer.
	  	13
	 SECTION 2.08. Access to Certain Information.
	  	14
	 SECTION 2.09. Debt Service Advances.
	  	16
	 SECTION 2.10. Reporting.
	  	16
	 SECTION 2.11. Confidentiality.
	  	19
	 SECTION 2.12. Additional Obligations of Servicer.
	  	20
	 SECTION 2.13. Servicing Transfer Events; Record Keeping.
	  	21
	 SECTION 2.14. Sub-Servicing Agreements.
	  	21
	 SECTION 2.15. Servicer and Indenture Trustee to Cooperate.
	  	22
	 SECTION 2.16. Title to Equity Interests; Specially Serviced Tower Sites.
	  	23
	 SECTION 2.17. Management of Specially Serviced Tower Sites.
	  	23
	 SECTION 2.18. Sale of Specially Serviced Tower Site.
	  	24
	 SECTION 2.19. Maintenance of Insurance by the Servicer.
	  	27
	
	ARTICLE III
	COVENANTS OF INDENTURE TRUSTEE
		
	 SECTION 3.01. No Amendment of Indenture.
	  	28
	
	ARTICLE IV
	THE SERVICER
		
	 SECTION 4.01. Liability of the Servicer.
	  	28
	 SECTION 4.02. Merger, Consolidation or Conversion of the Servicer.
	  	28
	 SECTION 4.03. Limitation on Liability of the Servicer.
	  	28

  

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	SECTION 4.04. Servicer Not to Resign.	  	30
	SECTION 4.05. Rights of the Indenture Trustee in Respect of the Servicer.	  	31
	SECTION 4.06. Designation of Servicer by the Controlling Holders Representative.	  	31
	SECTION 4.07. Servicer as Owner of a Note.	  	32
	
	ARTICLE V
	SERVICER TERMINATION EVENTS
		
	SECTION 5.01. Servicer Termination Events.	  	33
	SECTION 5.02. Indenture Trustee to Act; Appointment of Successor.	  	36
	SECTION 5.03. Notification to Noteholders.	  	38
	SECTION 5.04. Waiver of Servicer Termination Events.	  	38
	SECTION 5.05. Additional Remedies of Indenture Trustee upon Servicer Termination Event.	  	38
	
	ARTICLE VI
	TERMINATION
		
	SECTION 6.01. Termination upon Payment of the Notes.	  	38
	
	ARTICLE VII
	MISCELLANEOUS PROVISIONS
		
	SECTION 7.01. Amendment.	  	39
	SECTION 7.02. Counterparts.	  	40
	SECTION 7.03. Governing Law.	  	40
	SECTION 7.04. Notices.	  	40
	SECTION 7.05. Severability of Provisions.	  	40
	SECTION 7.06. Successors and Assigns; Beneficiaries.	  	40
	SECTION 7.07. Article and Section Headings.	  	41
	SECTION 7.08. Notices to and from the Rating Agencies.	  	41
	SECTION 7.09. Notices to Controlling Holders Representative.	  	41
	SECTION 7.10. Complete Agreement.	  	41

  

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 EXHIBITS 
 Exhibit A:
Special Servicing Report 
 Exhibit B: Notice and Acknowledgment 
 Exhibit C: Acknowledgment of Proposed Servicer 
  

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 This SERVICING AGREEMENT (the “Agreement”) is dated and effective as of
July 31, 2009, between MIDLAND LOAN SERVICES, INC., as Servicer, and THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Indenture Trustee (“Indenture Trustee”). 
 WHEREAS, pursuant to that certain Indenture dated as of the date hereof by and among the Issuers, the Guarantor and the Indenture Trustee, as
supplemented by the Series 2009-1 Indenture Supplement (the “Indenture”), the Issuers will issue certain Notes pursuant to the Indenture; 
 WHEREAS, pursuant to the Indenture, the Indenture Trustee has agreed to act as indenture trustee with respect to the Notes; and 
 WHEREAS, the Indenture Trustee and the Issuers desire the Servicer to service the Notes on behalf of the Indenture Trustee, and the Servicer is willing to service the Notes for the Indenture Trustee pursuant to the
terms hereof. 
 NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, the parties hereto agree as follows:

 ARTICLE I 
 DEFINITIONS;
GENERAL INTERPRETIVE PRINCIPLES 
 SECTION 1.01. Defined Terms. Whenever used in this Agreement, the following words and phrases,
unless the context otherwise requires, shall have the meanings specified in this Section 1.01. Capitalized terms, words and phrases not defined in this Section 1.01 shall have the meanings ascribed to them in the Indenture. 
 “Actual/360 Basis” shall mean the accrual of interest calculated on the basis of the actual number of days elapsed during any Interest
Accrual Period in a year assumed to consist of 360 days. 
 “Advance Interest” shall mean the interest accrued on any
Advance at the Prime Rate on an Actual/360 Basis, which is payable to the party hereto that made such Advance, all in accordance with Section 2.03(d) or Section 2.09(c), as applicable. 
 “Annual Accountant Report” shall have the meaning assigned thereto in Section 2.06. 
 “Annual Performance Certificate” shall have the meaning assigned thereto in Section 2.06. 
 “Agreement” shall mean this Servicing Agreement, as it may be amended, modified, supplemented or restated following the Closing Date.








 “Defaulting Party” shall have the meaning assigned thereto in Section 5.01(b).

 “Enterprise Value” shall have the meaning assigned thereto in Section 2.12(a). 
 “Equity Interest” means, with respect to each of the Issuers the capital stock, membership interests or other equity interests of such
entity. 
 “Indenture” shall have the meaning ascribed to it in the recitals hereto. 
 “Indenture Trustee” shall have the meaning ascribed to it in the preamble hereto. 
 “Information” shall have the meaning ascribed to it in Section 2.11 herein. 
 “Interested Person” shall mean any Issuer, the Manager, the Servicer, any Noteholder, or any Affiliate of any such Person. 

“Liquidation Fee” shall mean, with respect to the Notes if they are Specially Serviced Notes, the fee designated as such and payable
to the Servicer pursuant to Section 2.04(b). 
 “Liquidation Fee Rate” shall mean 1.0%. 
 “Midland” shall mean Midland Loan Services, Inc., a Delaware corporation. 
 “Net Liquidation Proceeds” shall equal, for any Payment Date, all cash amounts (other than Insurance Proceeds or Condemnation Proceeds)
received by the Indenture Trustee in connection with: (a) the full, discounted or partial liquidation of a Tower Site or any collateral securing the Notes (or any proceeds thereof) following default, through the Indenture Trustee’s sale,
foreclosure sale or otherwise, exclusive of any portion thereof required to be released to the Issuers in accordance with applicable law and/or any applicable terms and conditions of the Indenture or the other Transaction Documents; or (b) the
realization upon any deficiency judgment obtained against the Issuers during the related Collection Period, net of any expenses incurred by the Servicer in connection with such disposition. 
 “Officer’s Certificate” shall mean a certificate signed by a Servicing Officer of the Servicer or a Responsible Officer of the
Indenture Trustee, as the case may be. 
 “Permitted Investments” shall have the meaning ascribed to it in the Cash
Management Agreement. 
  

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 “Qualified Insurer” shall mean an insurance company or security or bonding company
qualified to write the related insurance policy in the relevant jurisdiction. 
 “Representatives” shall have the meaning
ascribed to it in Section 2.11 herein. 
 “Required Claims-Paying Rating” shall mean, with respect to any insurance
carrier, in the case of the fidelity bond and errors and omissions insurance required to be maintained pursuant to Section 2.19, a claims paying ability rating from Moody’s and Fitch that is not more than two rating categories below the
highest rated Notes outstanding, and in any event no lower than “Baa2” from Moody’s and “BBB” from Fitch or, if such carrier is not rated by Moody’s and Fitch, a rating of A from AM Best. 
 “Servicer” shall mean Midland, in its capacity as Servicer hereunder, or any successor servicer appointed as herein provided.

 “Servicer Remittance Date” shall mean the Business Day preceding each Payment Date. 
 “Servicer Termination Event” shall have the meaning assigned thereto in Section 5.01(a). 
 “Servicing Advances” shall have the meaning assigned thereto in 2.03(b). 
 “Servicing Fee” shall mean the fee designated as such and payable to the Servicer pursuant to Section 2.04(a). 
 “Servicing Fee Rate” shall mean 0.03% per annum of the aggregate Outstanding Class Principal Balance of all Classes of Notes.

 “Servicing File” shall mean any documents (including any correspondence file) in the possession of the Servicer and
relating to the servicing of the Notes. 
 “Servicing Officer” shall mean any officer or employee of the Servicer involved
in, or responsible for, the administration and servicing of the Notes, whose name and specimen signature appear on a list of servicing officers furnished by such Person to the Indenture Trustee on the Closing Date, as such list may be amended from
time to time by the Servicer. 
 “Servicing Report” shall have the meaning assigned thereto in Section 2.10(a).

 “Servicing Standard” shall mean, with respect to the Servicer and any Sub-Servicers, to service and administer the Notes
in accordance with the following standards: (i) the same care, skill, prudence and diligence with which the Servicer generally services and administers comparable debt obligations for other third parties, 

  

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giving due consideration to customary and usual standards of practice of prudent servicing by institutional servicers of comparable debt obligations;
(ii) with a view to timely payment of all scheduled payments of principal and interest and, if any of the Notes come into and continue in default, the maximization of the recovery on the Notes to the Noteholders, on a net present value basis
(the relevant discounting of anticipated collections that will be distributable to the Noteholders to be performed at the Note Rates for the Notes); and (iii) without regard to (A) any relationship that the Servicer or any Affiliate
thereof may have with the Issuers, the Guarantor, the Manager, any Tenant, any of their respective Affiliates or any other party to the Transaction Documents; (B) the ownership of any Note by the Servicer or any Affiliate thereof; (C) the
obligation of the Servicer to make Debt Service Advances or Servicing Advances; (D) the right of the Servicer or any Affiliate thereof to receive compensation for its services or reimbursement of costs, generally under this Agreement or with
respect to any particular transaction; and (E) any debt of the Issuers or any Affiliate thereof held by the Servicer or any of its Affiliates. 
 “Servicing Transfer Event” shall mean any of the following events: 
 (a) the occurrence of any
monetary or material non-monetary Event of Default, which such Event of Default continues unremedied for 60 days; or 
 (b)
the Servicer determines, in its reasonable, good faith judgment, that a default (other than as described in clause (a) above) under the Indenture or any of the other Transaction Documents has occurred or is likely to occur, that may materially
impair the value of any material portion of the Collateral and the Assets, including, but not limited to, the Tower Sites, the Leases and the proceeds from any of the foregoing and such default continues unremedied for the applicable cure period
(or, if no cure period is specified, for 30 days); or 
 (c) a decree or order of a court or agency or supervisory authority
having jurisdiction in the premises in an involuntary action against the Guarantor or any Issuer or any direct or indirect subsidiary of the Guarantor or any of the Issuers 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, modification of debt, marshalling of assets and liabilities or similar proceeding, or for the winding-up or liquidation of its affairs, shall have been
entered against the Guarantor or any Issuer or any direct or indirect subsidiary of the Guarantor or any of the Issuers; or 
 (d) the Guarantor or any Issuer or any direct or indirect subsidiary of the Guarantor or any of the Issuers shall have consented to the appointment of a conservator or receiver or liquidator in any insolvency, modification of debt,
marshalling of assets and liabilities or similar proceeding of or relating to the Guarantor or any Issuer or any direct or indirect subsidiary of the Guarantor or any of the Issuers or of or relating to all or substantially all of its property; or

 (e) the Guarantor or any Issuer or any direct or indirect subsidiary of the Guarantor or any of the Issuers shall have
admitted in writing its inability to pay its 

  

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debts generally as they become due, filed a petition to take advantage of any applicable insolvency or reorganization statute, made an assignment for the
benefit of its creditors, or voluntarily suspended payment of its obligations; or 
 (f) the Servicer shall have received
notice of an intervening lien that is material and is not a Permitted Encumbrance and/or the Servicer’s notice of a foreclosure or similar proceeding with respect to any lien encumbering the Collateral or the other Assets, including but not
limited to the Tower Sites, Leases and the proceeds from any of the foregoing. 
 “Special Servicing Fee” shall mean the fee
designated as such and payable to the Servicer pursuant to the first paragraph of Section 2.04(b). 
 “Special Servicing Fee
Rate” shall mean 0.25% per annum of the aggregate Class Principal Balance of all Classes of Specially Serviced Notes. 
 “Special Servicing Report” shall have the meaning assigned thereto in Section 2.10(a). 
 “Specially
Serviced Notes” shall mean the Notes after a Servicing Transfer Event has occurred and is continuing. The Notes shall cease to be Specially Serviced Notes at such time as no Servicing Transfer Event exists that would cause the Notes to
continue to be (or thereafter again be) characterized as a Specially Serviced Notes and such of the following, as applicable, occur: (i) with respect to the circumstances described in clause (a) of the definition of Servicing Transfer
Event that relate to the failure of the Issuers to pay any amount due on the Notes, the Issuers have paid all delinquent amounts and thereafter make three consecutive full and timely Monthly Payment Amounts under the terms of the Indenture (as such
terms may be changed or modified in connection with a bankruptcy or similar proceeding involving any Issuer or by reason of a modification, waiver or amendment granted or agreed to by the Servicer); (ii) with respect to the circumstances
described in clause (a) of the definition of Servicing Transfer Event that relate to a material non-monetary Event of Default, or with respect to the circumstances described in clauses (b) or (f) of the definition of Servicing
Transfer Event, such Event of Default or default, as the case may be, is cured; or (iii) with respect to the circumstances described in clauses (c), (d) or (e) of the definition of Servicing Transfer Event, such circumstances
cease to exist in the reasonable, good faith judgment of the Servicer. 
 “Specially Serviced Tower Sites” shall mean
(i) all Tower Sites, whether owned, leased or managed by the Issuers, should the Indenture Trustee become the owner of the Equity Interests of the Issuer Entity which have been pledged to the Indenture Trustee, or (ii) the Tower Sites of
each relevant Issuer (other than the Issuer Entity), whether owned, leased or managed, should the Indenture Trustee become the owner of the direct or indirect Equity Interests of any Issuer (other than the Issuer Entity) which have been pledged to
the Indenture Trustee. 
  

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 “Sub-Servicer” shall mean any Person with which the Servicer has entered into a
Sub-Servicing Agreement. 
 “Sub-Servicing Agreement” shall mean the written contract between the Servicer, on the one hand,
and any Sub-Servicer, on the other hand, relating to servicing and administration of the Notes as provided in Section 2.14. 
 “Successful Bidder” shall have the meaning assigned thereto in Section 5.01(b). 
 “Tower Site
Acquisition Fee” shall have the meaning assigned thereto in Section 2.04. 
 “Tower Site Release/Substitution
Fee” shall have the meaning assigned thereto it in Section 2.04. 
 “Valuation Expert” shall have the meaning
assigned thereto in Section 2.12(a). 
 “Workout Fee” shall mean the fee designated as such and payable to the Servicer
pursuant to Section 2.04 herein. 
 “Workout Fee Rate” shall mean 1.0%. 
 SECTION 1.02. General Interpretive Principles. For purposes of this Agreement, except as otherwise expressly provided or unless the context
otherwise requires: 
 (i) the terms defined in this Agreement have the meanings assigned to them in this Agreement and
include the plural as well as the singular, and the use of any gender herein shall be deemed to include the other gender; 
 (ii) accounting terms not otherwise defined herein have the meanings assigned to them in accordance with United States generally accepted accounting principles as in effect from time to time; 
 (iii) references herein to “Articles”, “Sections”, “Subsections”, “Paragraphs” and other
subdivisions without reference to a document are to designated Articles, Sections, Subsections, Paragraphs and other subdivisions of this Agreement; 
 (iv) a reference to a Subsection without further reference to a Section is a reference to such Subsection as contained in the same Section in which the reference appears, and this rule shall also apply to Paragraphs
and other subdivisions; 
  

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 (v) the words “herein”, “hereof”, “hereunder”,
“hereto”, “hereby” and other words of similar import refer to this Agreement as a whole and not to any particular provision; 
 (vi) the terms “include” and “including” shall mean without limitation by reason of enumeration; 
 (vii) any agreement, instrument or statute defined or referred to herein or in any instrument or certificate delivered in connection herewith means such agreement, instrument or statute as from time to time amended,
modified or supplemented and includes (in the case of agreements or instruments) references to all attachments thereto and instruments incorporated therein; and 
 (viii) references to a Person are also to its permitted successors and assigns. 
 ARTICLE II 
 DUTIES OF THE SERVICER; REPRESENTATIONS AND 
 WARRANTIES OF THE SERVICER 
 SECTION
2.01. Servicer to Cooperate with Indenture Trustee. The Servicer shall, either directly or through Sub-Servicers, service and administer the Notes for the benefit of the Noteholders and perform all duties and functions explicitly ascribed to
it in the Indenture, this Agreement and the other Transaction Documents in accordance with (i) any and all applicable laws, (ii) the express terms of the Indenture, this Agreement and the other Transaction Documents and (iii) to the
extent consistent with the foregoing, the Servicing Standard. In connection with the performance of its obligations under this Agreement and any other Transaction Document, the Servicer is hereby authorized and shall be permitted to withdraw funds
from the Central Account and apply such funds in accordance with this Agreement or the applicable Transaction Document. The Indenture Trustee shall, at the written request of a Servicing Officer of the Servicer, furnish, or cause to be so furnished,
to the Servicer, a revocable limited power of attorney or other authorizing document (each of which shall be prepared by the Servicer) that is necessary or appropriate in scope to enable the Servicer to discharge or perform its servicing and
administrative duties hereunder; provided, however, that (i) the Indenture Trustee is not required to furnish any such power of attorney or other authorizing document that it deems would be detrimental to the Indenture Trustee or
to the interests of the holders of the Notes, and (ii) the Indenture Trustee shall not be held liable in any circumstance for the use or misuse of any such power of attorney or other authorizing document by the Servicer. 
 SECTION 2.02. Servicer Entitled to Rely on Information from Manager. In connection with the performance of its obligations under this Agreement
and the other Transaction Documents, the Servicer shall be entitled to conclusively rely upon written information or any certification provided to it by the Manager without the obligation to investigate the accuracy or completeness of any such
information or any certification. In 

  

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addition, the Servicer may rely on the Manager for performance of certain of the Servicer’s duties and obligations under this Agreement, the Indenture
and the other Transaction Documents, to the extent permitted thereunder, and the Servicer shall have no liability in connection with the Manager’s performance of such duties and obligations. 
 SECTION 2.03. Taxes, Assessments and Similar Items; Servicing Advances. (a) The Servicer shall with respect to the Notes, and based solely on
a certification furnished to it by the Issuers or the Manager pursuant to the Indenture and/or the Management Agreement, maintain records with respect to the Tower Sites reflecting the status (including payment status) of real estate taxes,
assessments and other similar items that are or may become a lien thereon and the status (including payment status) of ground rents and insurance premiums (including renewal premiums) payable in respect thereof and, based solely on such
certification, shall use reasonable efforts to effect or cause the Issuers or the Manager to effect payment thereof prior to the applicable penalty or termination date. The Servicer shall be entitled to rely on the certification with respect to the
foregoing items furnished to it by the Issuers or the Manager, without any obligation to investigate the accuracy or completeness of any information set forth therein, and shall have no liability with respect thereto. 
 (b) In accordance with the Servicing Standard, the Servicer shall advance all customary, reasonable and necessary
“out-of-pocket” costs and expenses (excluding costs and expenses of the Servicer’s overhead) incurred by the Servicer from time to time in the performance of its servicing obligations (the “Servicing Advances”),
including, but not limited to, the costs and expenses: 
 (i) the preservation, operation, restoration, and protection of any
Tower Site which, in the Servicer’s sole discretion exercised in good faith, are necessary to prevent an immediate or material loss to the Issuers’ interest in such Tower Site; 
 (ii) the payment of (1) Impositions and (2) Insurance Premiums, in each instance if and to the extent that funds in the
Impositions and Insurance Reserve are insufficient to pay such costs and expenses when due, or the Servicer has received notice that, or has knowledge that, the Issuers have failed to pay or will fail to pay such costs and expenses on a timely
basis; provided that in the case of amounts described in clause (1) above, the Servicer shall not make a Servicing Advance of any such amount if the Servicer reasonably anticipates (in accordance with the Servicing Standard) that such
amounts will be paid by the Issuers on or before the applicable penalty date, in which case the Servicer shall use efforts consistent with the Servicing Standard to confirm whether such amounts have been paid. The Servicer shall make a Servicing
Advance of such amounts, if necessary and assuming such Servicing Advance would not constitute a Nonrecoverable Servicing Advance, not later than five (5) Business Days following confirmation by the Servicer that such amounts have not been, or
are not reasonably likely to be, paid by the applicable penalty date; 
  

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 (iii) any enforcement or judicial proceedings, including but not limited to, court costs,
attorneys’ fees and expenses, costs for third party experts, including environmental and engineering consultants; and 
 (iv) any other item specifically identified as a Servicing Advance herein. 
 provided, however, the Servicer will not be responsible
for advancing (1) the cost to cure any failure of the Tower Sites to comply with any applicable law, rule, regulation or ordinance, including any environmental law, rule, regulation or ordinance, or to contain, clean up, or remedy an
environmental condition present at any Tower Site, (2) any losses arising with respect to defects in the title to any Tower Site, (3) any costs of capital improvements to any Tower Site other than those necessary to prevent an immediate or
material loss to the Issuers’ interest in such Tower Site; (4) amounts required to cure any damages resulting from causes not required to be insured under the Indenture, and not so insured; or (5) any amounts necessary to fund the
Reserves. 
 (c) Notwithstanding anything herein to the contrary, no Servicing Advance shall be required to be made hereunder
if such Servicing Advance would, if made, constitute a Nonrecoverable Servicing Advance. The determination by the Servicer that it has made a Nonrecoverable Servicing Advance or that any proposed Servicing Advance, if made, would constitute a
Nonrecoverable Servicing Advance, shall be made by the Servicer in its reasonable good faith judgment and shall be evidenced by an Officer’s Certificate delivered to the Indenture Trustee and the Manager, setting forth the basis for such
determination accompanied by any other information or reports that the Servicer may have obtained and that support such determination. The cost of obtaining any such expert valuations or other information or reports will be expenses payable directly
out of the Central Account; provided that in the event such reports are paid for out of the Servicer’s funds such expenses shall be a Servicing Advance. Any such determination will be conclusive and binding on the Indenture Trustee and
Noteholders so long as it was made in accordance with the Servicing Standard. 
 (d) The Servicer shall be entitled to receive
Advance Interest accrued on the amount of each Servicing Advance made thereby (with its own funds) for so long as such Servicing Advance is outstanding. Such interest with respect to any Servicing Advance shall be payable out of general collections
on deposit in the Central Account in accordance with the Transaction Documents. 
 (e) In accordance with the Servicing
Standard, the Servicer shall take such actions as are necessary to cause any recording, filing or depositing of any financing statement or continuation statement necessary to maintain the Grant of the Collateral under the Indenture, Cash Management
Agreement, Pledge Agreement and Security Agreement to be made. 
  

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 SECTION 2.04. Servicing and Special Servicing Compensation; Interest on and Reimbursement of Servicing
Advances; Payment of Certain Expenses. (a) As part of its compensation for its activities hereunder, the Servicer shall be entitled to receive monthly the Servicing Fee. For each calendar month (commencing with July 2009) or any applicable
portion thereof, the Servicing Fee shall accrue on a 30/360 Basis during each Interest Accrual Period at the Servicing Fee Rate on the aggregate Class Principal Balance of all Classes of the Notes at the beginning of the related Collection Period.
The Servicing Fee shall cease to accrue if no Notes are Outstanding. The Servicing Fee shall be payable monthly on each Payment Date (commencing with the Payment Date in August 2009), from general collections on deposit in the Central Account
pursuant to Article V of the Indenture. 
 As additional compensation, the Servicer shall also be entitled to receive a processing fee (the
“Tower Site Release/Substitution Fee”) equal to $1,000 plus reimbursement of all reasonable expenses related to each requested or permitted Tower Site disposition, termination (including a Ground Lease or Easement termination) or
substitution made in accordance with the Indenture. 
 As additional compensation, the Servicer shall also be entitled to receive a
processing fee (the “Tower Site Acquisition Fee”) equal to $1,000 plus reimbursement of all reasonable out-of-pocket expenses related to each requested or permitted Tower Site acquisition (including modification to a Ground Lease or
Easement to increase the area of real property covered thereby). 
 After termination or resignation of Midland as Servicer, Midland shall
not have any rights or obligations under this Agreement except as set forth in this Section 2.04, the final sentence of Section 4.03, Section 4.04, Section 4.06, Section 5.01, Section 5.02 and Section 6.02.

 Subject to the Servicer’s right to employ Sub-Servicers, the right to receive the Servicing Fee may not be transferred in whole or in
part except pursuant to this Section 2.04 and in connection with the transfer of all of the Servicer’s responsibilities and obligations under this Agreement. 
 (b) As part of its compensation for its activities hereunder and in addition to the Servicing Fee, the Servicer shall be entitled to
receive monthly the Special Servicing Fee with respect to the Notes when they are Specially Serviced Notes. The Special Servicing Fee will be calculated on a 30/360 Basis and accrue at the Special Servicing Fee Rate on the aggregate Class Principal
Balance of all Classes of the Notes at the beginning of the related Collection Period and for the same period as interest accrues or is deemed to accrue from time to time on the Notes. The Special Servicing Fee shall cease to accrue the earlier of
the date that (i) the Notes cease to be Specially Serviced Notes and (ii) no Notes are Outstanding. Earned but unpaid Special Servicing Fees shall be payable monthly out of general collections on deposit in the Central Account in
accordance with Article V of the Indenture and the other applicable Transaction Documents. 
 As further compensation for its activities
hereunder, the Servicer shall also be entitled to receive a Liquidation Fee with respect to any Tower Site, any Assets, any 

  

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Lease or any Collateral constituting security for the Notes or Guaranty, as to which it receives any Liquidation Proceeds (other than in connection with the
purchase of a Specially Serviced Tower Site by the Servicer pursuant to Section 2.18). The “Liquidation Fee” shall be calculated by application of the Liquidation Fee Rate to any Net Liquidation Proceeds. The Liquidation Fee
shall be payable subsequent to the receipt of any Liquidation Proceeds in accordance with the priorities of payments in Article V of the Indenture. 
 As further compensation for its activities hereunder, if a Servicing Transfer Event occurs as a result of the occurrence of an Event of Default, the Servicer shall be entitled to receive a Workout Fee with respect to the Notes when the
Notes cease to be Specially Serviced Notes (in accordance with the definition thereof). The “Workout Fee” shall be calculated by application of the Workout Fee Rate to each payment of interest and principal received on the Notes
after the Notes cease to be, and so long as the Notes are not, Specially Serviced Notes. The Workout Fee shall be payable monthly out of general collections on deposit in the Central Account in accordance with the Transaction Documents. The Workout
Fee will cease to be payable if a subsequent Servicing Transfer Event occurs with respect thereto; provided that a new Workout Fee will become payable if and when the Notes again cease to be Specially Serviced Notes (in accordance with the
definition thereof). If the Servicer is terminated or resigns hereunder, it shall retain the right to receive any and all Workout Fees payable in respect of the Notes thereafter, for so long as the Notes are not Specially Serviced Notes during the
period that it acted as Servicer and that were still not Specially Serviced Notes at the time of such termination or resignation, or if the Notes would have ceased to have been Specially Serviced Notes at the time of termination or resignation but
for the payment of three Monthly Payment Amounts (and the successor Servicer shall not be entitled to any portion of such Workout Fees), in each case until the Workout Fee for the Notes ceases to be payable in accordance with the preceding sentence.
The provisions of the preceding sentence shall survive the termination or resignation of the Servicer hereunder. 
 The Servicer’s right
to receive the Special Servicing Fee and/or the Liquidation Fee may not be transferred in whole or in part except in connection with the transfer of all of the Servicer’s responsibilities and obligations under this Agreement. 
 (c) The Servicer shall be required (subject to Section 2.03(c) above) to pay out of its own funds all expenses in the nature of
“overhead” incurred by it in connection with its servicing activities hereunder including, without limitation, payment of any amounts due and owing to any of Sub-Servicers retained by it (including, except as provided in Section 2.14,
any termination fees) and the premiums for any blanket policy or the standby fee or similar premium, if any, for any master force place policy obtained by it insuring against hazard losses pursuant to the Transaction Documents (but excluding
incremental increases to such premiums resulting from the addition of any new Assets or Collateral to such coverage, which such increases shall be reimbursed as Servicing Advances), if and to the extent that such expenses are not Servicing Advances
or expenses payable directly out of the Central Account or any Sub-Accounts in accordance with the Transaction Documents or otherwise, and the Servicer shall not be entitled to reimbursement for any such expense incurred by it except as expressly
provided in this Agreement and the other Transaction Documents. 
  

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 Notwithstanding anything to the contrary set forth herein, the obligation to pay the Servicer fees earned
under this Section 2.04 shall survive the termination of this Agreement and the termination or resignation of the Servicer. 
 SECTION
2.05. Tower Site Inspections. The Servicer shall perform or cause to be performed (through the Manager, so long as the Management Agreement has not been terminated, or, if the Management Agreement has been terminated, by any other Person
selected by the Servicer in accordance with the Servicing Standard) a physical inspection of not less than 100 of the Tower Sites once during each two-year period commencing on July 31, 2009 and each biannual anniversary thereof, with the
identity of the Tower Sites inspected during any 12-month period to be selected by the Servicer on a random basis; provided that any inspection of a Tower Site that was inspected during either of the two immediately preceding biannual periods
will not be counted towards the 100-Tower Site requirement. The Servicer shall prepare or cause to be prepared (through the Manager, so long as the Management Agreement has not been terminated, or, if the Management Agreement has been terminated, by
such other Person selected by the Servicer in accordance with the Servicing Standard and this Section 2.05) a written report of each such inspection performed by it or on its behalf that sets forth in detail the condition of the Tower Sites and
that specifies the occurrence or existence of any of the following: (i) any sale, transfer or abandonment of a Tower Site, (ii) any material change in the condition, occupancy or value of a Tower Site, or (iii) any material waste
committed on a Tower Site. Each such report shall be in such form as may be determined by the Servicer. The Servicer shall deliver to the Indenture Trustee and each Rating Agency a copy (or image in suitable electronic media) of each such written
report prepared by it within 60 days of completion of the related inspection. The cost of the inspections by the Servicer referred to in the first sentence of this subsection shall be an expense of the Manager if performed by the Manager and
otherwise, if performed by the Servicer, shall be an expense of the Issuers reimbursed as an Additional Issuer Expense. 
 SECTION 2.06.
Annual Statements as to Compliance. The Servicer shall, at its expense, cause a firm of independent public accountants that is a member of the American Institute of Certified Public Accountants (the “Annual Accountant
Report”) to furnish to the Indenture Trustee on or before April 30 of each year beginning in 2010, a statement generally to the effect that (i) it has obtained a letter of representation regarding certain matters from the
management of the Servicer that includes an assertion that the Servicer has complied with certain minimum loan servicing standards, identified in the Uniform Single Attestation Program for Mortgage Bankers established by the Mortgage Bankers
Association of America, during the most recently completed calendar year and (ii) on the basis of an examination conducted by such firm in accordance with established criteria, that such representation is fairly stated in all material respects,
subject to such exceptions and other qualifications as may be appropriate. In rendering the Annual Accountant Report, the firm may rely, as to matters relating to the direct servicing of leases and/or licenses by Sub-Servicers, upon comparable
reports of firms of independent certified public accountants rendered on the basis of examinations conducted in accordance with the same standards, within one year of the report with respect to those Sub-Servicers. 
  

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 The Servicer also shall deliver to the Indenture Trustee on or before April 30 of each year,
beginning in 2010, at its own expense, among others, a statement signed by an officer of the Servicer (the “Annual Performance Certificate”), to the effect that, to the best knowledge of such officer, the Servicer has fulfilled its
obligations under this Agreement in all material respects throughout the preceding calendar year or portion thereof, during which the Notes were outstanding (and if it has not so fulfilled certain of such obligations, specifying the details
thereof). 
 SECTION 2.07. Representations and Warranties of the Servicer. (a) The Servicer hereby represents and warrants to the
Indenture Trustee and for the benefit of the Noteholders, as of the Closing Date, that: 
 (i) The Servicer is duly organized,
validly existing in good standing as a corporation under the laws of the State of Delaware, and the Servicer is in compliance with the laws of the State (or District of Columbia, as applicable) in which each of the Tower Sites is located to the
extent necessary to ensure the enforceability of the Indenture and to perform its obligations under this Agreement, except where the failure to so qualify or comply would not have a material adverse effect on the ability of the Servicer to perform
its obligations hereunder. 
 (ii) The Servicer’s execution and delivery of, performance under and compliance with this
Agreement, will not violate the Servicer’s organizational documents or 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, which default or breach, in the reasonable judgment of the Servicer, is likely to affect materially and adversely either the ability of the Servicer
to perform its obligations under this Agreement or the financial condition of the Servicer. 
 (iii) The Servicer has the full
corporate power and authority to enter into and consummate all transactions involving the Servicer contemplated by this Agreement, has duly authorized the execution, delivery and performance of this Agreement, and has duly executed and delivered
this Agreement. 
 (iv) This Agreement, assuming due authorization, execution and delivery by each of the other parties
hereto, constitutes a valid, legal and binding obligation of the Servicer, enforceable against the Servicer in accordance with the terms hereof, subject to (A) applicable bankruptcy, insolvency, reorganization, receivership, liquidation,
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. 
  

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 (v) The Servicer is not in violation of, and its execution and delivery of, performance
under and compliance with this Agreement will not constitute a violation of, any law, any 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 Servicer’s reasonable judgment, is likely to affect materially and adversely either the ability of the Servicer to perform its obligations under this Agreement or the financial condition of the Servicer. 
 (vi) No litigation is pending or, to the best of the Servicer’s knowledge, threatened against the Servicer, the outcome of which, in
the Servicer’s reasonable judgment, would prohibit the Servicer from entering into this Agreement or that, in the Servicer’s reasonable judgment, could reasonably be expected to materially and adversely affect either the ability of the
Servicer to perform its obligations under this Agreement or the financial condition of the Servicer. 
 (vii) The Servicer has
errors and omissions insurance in the amounts and with the coverage required by Section 2.19. 
 (viii) No consent,
approval, authorization or order of any state or federal court or governmental agency or body is required for the consummation by the Servicer of the transactions contemplated herein, except for those consents, approvals, authorizations or orders
that previously have been obtained or cannot be obtained prior to the actual performance by the Servicer of its obligations under this Agreement and except where the lack of such consent, approval, authorization or order would not have a material
adverse effect on the ability of the Servicer to perform its obligations under this Agreement. 
 (b) The representations and
warranties of the Servicer set forth in Section 2.07(a) shall survive the execution and delivery of this Agreement and shall inure to the benefit of the Indenture Trustee and the Noteholders made for so long as the Notes remain Outstanding.
Upon discovery by the Indenture Trustee or the Servicer of a breach of such foregoing representations and warranties that materially and adversely affects the interests of the Noteholders, the party discovering such breach shall give prompt written
notice thereof, as applicable, to the Indenture Trustee, the Servicer and the Controlling Holders Representative. 
 (c) Any
successor Servicer shall be deemed to have made, as of the date of its succession, each of the representations and warranties set forth in Section 2.07(a), subject to such appropriate modifications to the representation and warranty set forth
in Section 2.07(a)(i) to accurately reflect such successor’s jurisdiction of organization and whether it is a corporation, partnership, bank, association or other type of organization. 
 SECTION 2.08. Access to Certain Information. Subject to the provisions of Section 2.11, the Servicer shall provide or cause to be provided to
the Indenture Trustee, the Controlling Holders Representative and the Rating Agencies access to any 

  

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documentation regarding the Notes that are within its control which may be required by this Agreement or by applicable law, except to the extent that
(i) such documentation is subject to a claim of privilege under applicable law that has been asserted by the Noteholders and of which the Servicer has received written notice or (ii) the Servicer is otherwise prohibited from making such
disclosure under applicable law, or may be subject to liability for making such disclosure in the opinion of the counsel for the Servicer (which counsel may be a salaried employee of the Servicer). Such access shall be afforded without charge but
only upon reasonable prior written request and during normal business hours (a) at the offices of the Servicer designated by it or (b) alternatively the Servicer may send copies by first class mail of the requested information to the
address designated in the written request of the requesting party. However, the Servicer may charge for any copies requested by said Persons. The Servicer shall be permitted to affix a reasonable disclaimer to any information provided by it pursuant
to this Section 2.08. 
 Nothing herein shall be deemed to require the Servicer to confirm, represent or warrant the accuracy of (or to
be liable or responsible for) any other Person’s information or report, including any communication from the Guarantor, any Issuer or the Manager. 
 The Servicer shall produce the reports expressly required of it under this Agreement; provided, however, that the Servicer shall not be required to produce any ad hoc non-standard written reports with
respect to the Notes or the Tower Sites. In the event the Servicer elects to provide such non-standard reports, it may require the Person requesting such report (other than a Rating Agency or the Indenture Trustee) to pay a reasonable fee to cover
the costs of the preparation thereof. Any transmittal of information hereunder, or with respect to the Notes or the Tower Sites, by the Servicer to any Person other than the Indenture Trustee or the Rating Agencies shall be accompanied by a letter
from the Servicer containing the following provision: 
 By receiving the information set forth herein, you hereby acknowledge and agree that
the United States securities laws restrict any person who possesses material, non-public information regarding the Senior Secured Notes or Crown Castle International Corp. or any of its subsidiaries from purchasing or selling such Notes or any
securities of Crown Castle International Corp. in circumstances where the other party to the transaction is not also in possession of such information. You also acknowledge and agree that such information is being provided to you for the purposes
of, and such information may be used only in connection with, evaluation by you or another Noteholder, Note Owner or prospective purchaser of such Notes or beneficial interest therein. 
 The Servicer may make available by electronic media and bulletin board service certain information and may make available by electronic media or bulletin
board service (in addition to making such information available as provided herein) any reports or information that the Servicer is required to provide pursuant to this Agreement. 
  

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 SECTION 2.09. Debt Service Advances. (a) If, on the Servicer Remittance Date, there are
insufficient funds on deposit in the Central Account properly available to make the Monthly Payment Amount given the priorities set forth in Article V of the Indenture (as such terms may be changed or modified in connection with a bankruptcy or
similar proceeding involving any Issuer or by reason of a modification, waiver or amendment granted or agreed to by the Servicer following an Event of Default), then the Servicer will be required to make a Debt Service Advance not later than 3:00
p.m. (New York City time) on the Servicer Remittance Date for the related Payment Date; provided, however, that the Servicer will not be responsible for advancing any principal on the Notes or Prepayment Consideration. 
 (b) Notwithstanding anything herein to the contrary, no Debt Service Advance shall be required to be made hereunder if the Servicer
determines such Debt Service Advance (including interest thereon) would, if made, constitute a Nonrecoverable Debt Service Advance. The determination by the Servicer that it has made a Nonrecoverable Debt Service Advance or that any proposed Debt
Service Advance, if made, would constitute a Nonrecoverable Debt Service Advance, shall be made by the Servicer in its reasonable good faith judgment and shall be evidenced by an Officer’s Certificate delivered to the Indenture Trustee, setting
forth the basis for such determination accompanied by any other information or reports that the Servicer may have obtained and that support such determination, the cost of which reports shall be reimbursable to the Servicer as a Servicing Advance.
Any such determination will be conclusive and binding on the Indenture Trustee and Noteholders so long as it was made in accordance with the Servicing Standard. 
 (c) The Servicer shall be entitled to receive Advance Interest accrued on the amount of each Debt Service Advance made thereby (with its
own funds) for so long as such Debt Service Advance is outstanding. Such interest with respect to any Debt Service Advance shall be payable out of general collections on deposit in the Central Account in accordance with Article V of the Indenture
and the other applicable provisions of the Transaction Documents. 
 SECTION 2.10. Reporting. (a) Servicing Reports; Special
Servicing Reports. Subject to Section 2.11, on each Servicer Remittance Date, the Servicer shall provide or make available electronically (or, upon request, by first class mail) to the Indenture Trustee a statement prepared by the Servicer,
substantially in the form of, and containing the information set forth in, Exhibit G to the Indenture (the “Servicing Report”) and, if the Notes were Specially Serviced Notes at any time during the related Collection Period, a
report, substantially in the form of, and containing the information set forth in, Exhibit A hereto (the “Special Servicing Report”). 
 Upon receipt of each Manager Report delivered by the Manager pursuant to the Management Agreement, the Servicer shall promptly provide such Manager Report to the Indenture Trustee. 
 Each Servicing Report and Special Servicing Report shall be in an electronic format that is mutually acceptable to the Servicer and the Indenture
Trustee. 

  

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Each Servicing Report, Special Servicing Report and any written information supplemental to either shall include such information with respect to the Notes
that is reasonably required by the Indenture Trustee for purposes of preparing the reports for which the Indenture Trustee is responsible pursuant to Indenture or the other Transaction Documents, as set forth in reasonable written specifications or
guidelines issued by the Indenture Trustee from time to time. Such information may be delivered to the Indenture Trustee by the Servicer by electronic mail or in such electronic or other form as may be reasonably acceptable to the Servicer and the
Indenture Trustee. 
 On each Payment Date, subject to Section 2.11, the Indenture Trustee shall make the Indenture Trustee Report, the
Manager Report, the Servicing Report and, if applicable, the Special Servicing Report available each month to Noteholders, Note Owners and prospective investors, each Rating Agency, the Servicer and the Controlling Holders Representative via such
system as the Indenture Trustee and the Servicer may agree. Neither the Servicer nor the Indenture Trustee shall be liable for dissemination of information in accordance with this Agreement. 
 (b) Financial Reports. The Servicer shall make reasonable efforts to collect promptly (from the Issuer Parties or the Manager, with
respect to financial reports of the Issuer Parties, and from Crown International, with respect to financial reports of Crown International) all financial statements, operating statements, rent rolls and other records required pursuant to the terms
of the Transaction Documents. Such efforts shall include at least three phone calls, followed by confirming correspondence, requesting such delivery. The Servicer shall promptly review and analyze, and deliver to the Indenture Trustee and, upon
request, each Rating Agency, copies of all such items as may be collected pursuant to this Agreement. 
 (c) Information on
the Servicer’s Website at Servicer Option. The Servicer may, but is not required to, make any Servicing Reports, Manager Reports, Indenture Trustee Reports and Special Servicing Reports prepared by it with respect to the Notes, available
each month on the Servicer’s internet website only with the use of a password, in which case the Servicer shall provide such password to (i) the Indenture Trustee and the Issuers, who by their acceptance of such password shall be deemed to
have agreed not to disclose such password to any other Person, (ii) the Rating Agencies and the Controlling Holders Representative, and (iii) each Noteholder and Note Owner who requests such password. In connection with providing access to
its internet website, the 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 Servicer deems necessary or
appropriate, conditioning access on execution of an agreement governing the availability, use and disclosure of such information, and which may (other than by the Indenture Trustee) provide indemnification to the Servicer for any liability or damage
that may arise therefrom. 
 (d) Additional Reports at Option of Servicer with Consent of Indenture Trustee. If the
Servicer, in its reasonable judgment, determines (but this provision shall not be construed to impose on the Servicer any obligation to make such a 

  

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determination in the affirmative or negative at any time) with the consent of the Indenture Trustee, which shall not be unreasonably withheld, that
information regarding the Notes and/or the Tower Sites (in addition to the information otherwise required to be reported under this Agreement) should be disclosed to Noteholders and Note Owners, then (a) the Servicer shall be entitled to so
notify the Indenture Trustee, in which case the Servicer shall (i) set forth such information in an additional report, (ii) deliver such report to the Indenture Trustee and (iii) deliver a brief description of such report to the
Indenture Trustee; and (b) the Indenture Trustee shall (i) make such report available on the Indenture Trustee’s internet website commencing not later than two (2) Business Days following the receipt thereof from the Servicer and
(ii) include, in the comment field of the Indenture Trustee Report for the Payment Date that succeeds its receipt of the relevant information from the Servicer by not less than two (2) Business Days, a brief description of such report
(which may be the same description thereof that was provided by the Servicer, on which description the Indenture Trustee shall be entitled to rely). 
 (e) Protections for Indenture Trustee and Servicer. The Indenture Trustee will be entitled to rely on information supplied to it by the Servicer without independent verification. Notwithstanding anything to the
contrary contained herein, to the extent that the information required to be furnished by the Servicer (whether pursuant to any Servicer Report, Special Servicer Report or otherwise) is based on information required to be provided by the Guarantor,
the Issuers, Crown International or the Manager, or the Servicer reasonably determines in good faith it requires the Guarantor, the Issuers, Crown International or the Manager to furnish any information the Servicer requires to complete such
reports, the Servicer’s obligation to furnish such information and/or such reports to the Indenture Trustee will be contingent on the Servicer’s receipt of such information from the Guarantor, the Issuers, Crown International or the
Manager within a reasonable period of time prior to the time such information or report is required to be delivered, and Servicer shall not be in breach of this Agreement solely to the extent the failure to deliver any report is due to the failure
of the Guarantor, the Issuers, Crown International or the Manager to provide such information. The Servicer will be entitled to rely on information supplied by the Guarantor, the Issuers, Crown International or the Manager in any case without
independent verification. The failure of the Servicer to disclose any information or deliver any reports otherwise required to be disclosed or delivered by the Transaction Documents shall not constitute a breach of this Agreement to the extent that
the Servicer so fails because such disclosure, in the reasonable belief of the Servicer, would violate Section 2.11 or any applicable law or any provision of a Transaction Document prohibiting disclosure of information with respect to the Notes
or a Tower Site. The Servicer may disclose any such information or any additional information to any Person so long as such disclosure is consistent with Section 2.11, applicable law and the Servicing Standard. The Servicer may affix to any
information provided by it any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party hereto). 
 (f) Means of Delivery (Servicer). If the Servicer is required to deliver any statement, report or information under any provision
of this Agreement, the 

  

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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 the Servicer’s internet website, unless this Agreement expressly specifies a particular method of
delivery. Notwithstanding the foregoing, the Indenture Trustee may request delivery in paper format of any statement, report or information required to be delivered to the Indenture Trustee and clause (z) shall not apply to the delivery of any
information required to be delivered to the Indenture Trustee unless the Indenture Trustee consents in writing to such delivery. Notwithstanding any provision to the contrary, the Servicer shall not have any obligation (other than to the Indenture
Trustee) to deliver any statement, notice or report that is then made available on the Servicer’s or the Indenture Trustee’s internet website; provided that it has notified all parties entitled to delivery of such reports, by
electronic mail or other notice, to the effect that such statements, notices or reports shall thereafter by made available on such website from time to time. 
 SECTION 2.11. Confidentiality. Notwithstanding anything herein to the contrary (except with respect to the disposition of Specially Serviced Tower Sites pursuant to Section 2.18 hereof), each of the
Indenture Trustee and the Servicer hereby agrees to keep the Manager Reports, the other reports required to be prepared and delivered pursuant to Section 2.10 and all other information relating to the Issuers and their respective Affiliates
received by them pursuant to the Transaction Documents (collectively, the “Information”) confidential, and such Information will not be disclosed or made available to any Person by the Servicer, the Indenture Trustee or any of their
respective officers, directors, partners, employees, agents or representatives (collectively, the “Representatives”) in any manner whatsoever without the prior written consent of the Issuers, except that the Servicer and the
Indenture Trustee may disclose or make available Information (i) to the Indenture Trustee and the Rating Agencies, (ii) to Note Owners or Noteholders that have delivered a written confirmation in such form as may be acceptable to the
Servicer to the effect that such Person is a legal or beneficial holder of a Note or an interest therein and will keep such Information confidential, (iii) to prospective purchasers of Notes, or interests therein, that have delivered a written
confirmation in such form as may be acceptable to the Servicer to the effect that such Person is a prospective purchaser of a Note or an interest therein, is requesting the Information for use in evaluating a possible investment in Notes and will
keep such Information confidential, (iv) to the Controlling Holders Representative or any other Person to whom disclosure is expressly permitted hereby (including, following the occurrence of an Event of Default under the Indenture, a
prospective purchaser of any of the Equity Interests), so long as the Controlling Holders Representative or such other Person shall have delivered a written confirmation in such form as may be acceptable to the Servicer to the effect that such
Person will keep such Information confidential, (v) in compliance with Section 11.11 of the Indenture, or (vi) as required by applicable laws and regulations or by any subpoena or similar legal process (in which case the
Representatives agree to inform the Issuers promptly thereof prior to such disclosure). 
  

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 SECTION 2.12. Additional Obligations of Servicer. (a) As soon as practicable following the
occurrence of an Event of Default, the Servicer shall appoint an independent valuation expert (the “Valuation Expert”) to determine the enterprise value of the Issuers taken as a whole as determined by such Valuation Expert (the
“Enterprise Value”), unless a Valuation Expert had previously been appointed and determined the Enterprise Value of the Issuers within the preceding twelve month period and there has been no subsequent material change in the
circumstances surrounding the Tower Sites or the Issuers that in the judgment of the Servicer would materially affect the value of the Tower Sites or the Issuers. The Indenture Trustee and the Servicer shall provide any information in their
possession, including, without limitation, all financial statements and reports furnished under the Transaction Documents and all other information regarding the Notes, the Tower Sites, the Tenant Leases and the Site Management Agreements that the
Valuation Expert shall reasonably request. In determining the Enterprise Value of the Issuers, the Valuation Expert will be required to take into consideration (1) the market trading multiples of public tower operators, (2) the valuations
received in precedent comparable tower acquisition transactions, (3) the estimated cost to replace the Tower Sites and (4) other relevant capital markets factors. The Valuation Expert shall set forth its determination in a written report.
The Servicer shall deliver a copy of the report prepared by the Valuation Expert to the Indenture Trustee, each Rating Agency and the Controlling Holders Representative. The reasonable fees and out-of-pocket costs incurred by the Valuation Expert in
preparing its report shall be covered by the Servicer, and be reimbursable to the Servicer, as a Servicing Advance. 
 (b) The
Servicer shall not be required to pay without reimbursement (as an Additional Issuer Expense) the fees charged by any Rating Agency (i) in respect of Rating Agency Confirmation or (ii) in connection with any other particular matter, unless
the Servicer has failed to use efforts in accordance with the Servicing Standard to collect such fees from the Issuers. 
 (c)
The Servicer shall maintain at its Primary Servicing Office and shall, upon reasonable advance written notice, make available during normal business hours for review by the Indenture Trustee, each Rating Agency and the Controlling Holders
Representative: (i) the most recent inspection report prepared by or on behalf of the Servicer in respect of the Tower Sites pursuant to Section 2.05; (ii) the most recent annual, quarterly, monthly and other periodic operating
statements relating to the Tower Sites, annual and quarterly financial statements of the Issuer Parties, and reports collected by the Servicer pursuant to Section 2.10; (iii) all Servicing Reports and Special Servicing Reports prepared by
the Servicer since the Closing Date pursuant to Section 2.10; (iv) all Manager Reports delivered by the Manager since the Closing Date pursuant to the Management Agreement; and (v) all of the Servicing File in its possession;
provided that the Servicer shall not be required to make particular items of information contained in the Servicing File available to any Person if the disclosure of such particular items of information is expressly prohibited by applicable
law (or would in the Servicer’s reasonable judgment cause the Servicer to violate any applicable law) or the provisions of the Transaction Documents or if such documentation is subject to claim of privilege under applicable law that can be
asserted by the Servicer; and provided further that, except in the case of the Indenture Trustee and Rating Agencies, the Servicer shall be entitled to recover from any Person reviewing the Servicing File pursuant to this Section 2.12(c)
its reasonable “out-of- pocket” 

  

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expenses incurred in connection with making the Servicing Files available to such Person. Except as set forth in the provisos to the preceding sentence,
copies of any and all of the foregoing items are to be made available by the Servicer, to the extent set forth in the preceding sentence, upon request; provided that, the Servicer shall be permitted to require, except from the Indenture
Trustee and the Rating Agencies, payment of a sum sufficient to cover the reasonable out-of-pocket costs and expenses of providing such service. The Servicer shall not be liable for the dissemination of information in accordance with this
Section 2.12(c). 
 SECTION 2.13. Servicing Transfer Events. Upon determining that a Servicing Transfer Event has occurred, the
Servicer shall immediately give notice thereof to the Indenture Trustee, the Rating Agencies and the Controlling Holders Representative. The Servicer shall use its reasonable efforts to comply with the preceding sentence within five
(5) Business Days of the occurrence of each related Servicing Transfer Event. 
 Upon determining that the Notes are no longer Specially
Serviced Notes, the Servicer shall promptly give notice thereof to the Rating Agencies, the Controlling Holders Representative and the Indenture Trustee and the Servicer’s right to receive the Special Servicing Fee with respect to the Notes
shall terminate. 
 SECTION 2.14. Sub-Servicing Agreements. (a) Subject to Section 2.14(f), the Servicer may enter into
Sub-Servicing Agreements to provide for the performance by third parties of any or all of its obligations hereunder, provided that in each case, the Sub-Servicing Agreement: (i) must be consistent with this Agreement in all material
respects and does not subject the Indenture Trustee to any liability; and (ii) expressly or effectively provides that if the Servicer shall for any reason no longer act in such capacity hereunder (including by reason of a Servicer Termination
Event), any successor to the Servicer hereunder (including the Indenture Trustee if the Indenture Trustee has become such successor pursuant to Section 5.02) may thereupon either assume all of the rights and, except to the extent that they
arose prior to the date of assumption, obligations of the Servicer under such agreement or, subject to the provisions of Section 2.14(d), terminate such rights and obligations, in either case without payment of any penalty or termination fee
(other than any right of reimbursement and indemnification). References in this Agreement to actions taken or to be taken by the Servicer include actions taken or to be taken by a Sub-Servicer on behalf of the Servicer; and, in connection therewith,
all amounts advanced by any Sub-Servicer to satisfy the obligations of the Servicer hereunder to make Advances shall be deemed to have been advanced by the Servicer out of its own funds and accordingly such Advances shall be recoverable by such
Sub-Servicer in the same manner and out of the same funds as if such Sub-Servicer were the Servicer. For purposes of this Agreement, the Servicer shall be deemed to have received any payment when a Sub-Servicer retained by it receives such payment.
The Servicer shall notify the Indenture Trustee in writing promptly of the appointment by it of any Sub-Servicer, and shall deliver to the Indenture Trustee, copies of all Sub-Servicing Agreements, and any amendments thereto and modifications
thereof, entered into by it promptly upon its execution and delivery of such documents. 
  

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 (b) Each Sub-Servicer shall be authorized to transact business in the state or states in
which a Tower Site is situated, if and to the extent required by applicable law. 
 (c) The Servicer, for the benefit of the
Indenture Trustee and the Noteholders, shall (at no expense to the Indenture Trustee or the Noteholders) monitor the performance and enforce the obligations of its Sub-Servicers under the Sub-Servicing Agreements. Such enforcement, including the
legal prosecution of claims, termination of Sub-Servicing Agreements in accordance with their respective terms and the pursuit of other appropriate remedies, shall be in such form and carried out to such an extent and at such time as the Servicer,
in its reasonable judgment, would require were it the holder of the Notes. Subject to the terms of the Sub-Servicing Agreement, the Servicer shall have the right to remove a Sub-Servicer retained by it at any time it considers such removal to be in
the best interests of Noteholders. 
 (d) If the Servicer ceases to serve as such under this Agreement for any reason
(including by reason of a Servicer Termination Event), then the Indenture Trustee or other successor Servicer shall succeed to the rights and assume the obligations of the Servicer under any Sub-Servicing Agreement unless the Indenture Trustee or
other successor Servicer elects to terminate any such Sub-Servicing Agreement in accordance with its terms and Section 2.14(a)(ii) hereof. In any event, if a Sub-Servicing Agreement is to be assumed by the Indenture Trustee or other successor
Servicer, then the Servicer at its expense shall deliver to the assuming party all documents and records relating to such Sub-Servicing Agreement and an accounting of amounts collected and held on behalf of it thereunder, and otherwise use its
reasonable efforts to effect the orderly and efficient transfer of the Sub-Servicing Agreement to the assuming party. 
 (e)
Notwithstanding any Sub-Servicing Agreement, the Servicer (for so long as it is the Servicer hereunder) shall remain obligated and liable to the Indenture Trustee and the Noteholders for the performance of its obligations and duties under this
Agreement in accordance with the provisions hereof to the same extent and under the same terms and conditions as if it alone were servicing and administering the Notes. No appointment of a Sub-Servicer shall result in any additional expense to the
Indenture Trustee, the Noteholders or the Issuers other than those contemplated herein. 
 (f) The Servicer shall not enter
into any Sub-Servicing Agreement in respect of any duties or responsibilities with respect to the Notes as Specially Serviced Notes unless the Servicer has received Rating Agency Confirmation. The Servicer shall not appoint any Sub-Servicer which
would cause the Indenture Trustee to cease to be eligible to serve as Indenture Trustee in accordance with the terms of the Indenture. 
 SECTION 2.15. Servicer and Indenture Trustee to Cooperate. Subject to Sections 2.11 and 2.12, the Servicer and the Indenture Trustee shall each furnish such reports, certifications and information in its possession, and access to
such books and records maintained thereby, as may relate to the Notes, the Assets, the Leases or the Collateral and as shall be reasonably requested by the other in order to enable each to perform its duties hereunder. 
  

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 SECTION 2.16. Title to Equity Interests; Specially Serviced Tower Sites. If title to Equity
Interests is acquired by virtue of realization on the Collateral, the Servicer shall, subject to Section 2.17 hereof, act in accordance with the Servicing Standard to liquidate Specially Serviced Tower Sites or such Equity Interests on a timely
basis in accordance with, and subject to the terms and conditions of, Section 2.18 hereof and the Indenture. 
 SECTION 2.17.
Management of Specially Serviced Tower Sites. (a) Subject to Section 2.16, the Servicer’s decision as to how a Specially Serviced Tower Site shall be managed and operated shall be in accordance with the Servicing Standard. If
the Servicer determines that the Servicer may be exposed to any liability under any environmental law, rule or regulation due to its management of the Specially Serviced Tower Sites, the Servicer may not be compelled to undertake its management
duties of the Specially Serviced Tower Sites. Prior to undertaking or participating in any foreclosure proceedings, the Servicer may elect to obtain environmental insurance policies and conduct environmental assessments and surveys in order to
determine the liabilities (if any) associated with the applicable Tower Sites, and take such other action the Servicer determines is in accordance with the Servicing Standard, to determine whether any Tower Sites or related Collateral is in
violation of any environmental law, rule or regulation and the cost of such actions shall be reimbursable to the Servicer, as an Additional Issuer Expense. The Servicer may, consistent with the Servicing Standard, engage an independent contractor to
manage and operate any Specially Serviced Tower Site, the cost of which independent contractor shall be paid by the Servicer, and shall reimbursable to the Servicer, as a Servicing Advance. The Servicer may consult with counsel or other consultants
knowledgeable in such matters at (to the extent reasonable) the expense of the Issuers in connection with determinations required under this Section 2.17(a). The Servicer shall not be liable to the Noteholders or the Indenture Trustee for
errors in judgment made in good faith in the reasonable exercise of its discretion or in reasonable and good faith reliance on the advice of knowledgeable counsel or other consultants while performing its responsibilities under this
Section 2.17(a). Nothing in this Section 2.17(a) is intended to prevent the sale of a Specially Serviced Tower Site pursuant to the terms and subject to the conditions of Section 2.18. 
 (b) The Servicer shall have full power and authority to do any and all things in connection with the management and operation of a
Specially Serviced Tower Site as are consistent with the Servicing Standard and, consistent therewith, shall, or shall instruct the Indenture Trustee in writing to, withdraw from the Central Account, to the extent of amounts on deposit therein with
respect to the related Specially Serviced Tower Site, funds necessary for the proper operation, management, maintenance and disposition of such Specially Serviced Tower Site, including: 
 (i) all insurance premiums due and payable in respect of such Specially Serviced Tower Site; 
  

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 (ii) all real estate taxes and assessments in respect of such Specially Serviced Tower
Site that may result in the imposition of a lien thereon; 
 (iii) any ground rents in respect of such Specially Serviced
Tower Site; and 
 (iv) all costs and expenses necessary to maintain, lease, sell, protect, manage, operate and restore such
Specially Serviced Tower Site. 
 To the extent that amounts on deposit in the Central Account with respect to the related Specially Serviced
Tower Site are insufficient for the purposes set forth in the preceding sentence with respect to such Specially Serviced Tower Site, the Servicer shall make Servicing Advances in such amounts as are necessary for such purposes unless (as evidenced
in the manner contemplated by Section 2.02(c)) the Servicer determines, in its reasonable good faith judgment that such payment would be a Nonrecoverable Servicing Advance. 
 SECTION 2.18. Sale of Specially Serviced Tower Site. (a) The Servicer may sell, or permit the sale of, a Specially Serviced Tower Site
(including through a sale of any or all of the Equity Interests) only on the terms and subject to the conditions set forth in this Section 2.18 and the Indenture. 
 (b) After the occurrence of and during the continuation of an Event of Default, if the Indenture Trustee has realized upon the Collateral
or the direct or indirect equity interests of the Issuers, the Servicer shall use its commercially reasonable efforts, consistent with the Servicing Standard, to solicit offers for Specially Serviced Tower Sites at a time and in a manner that is
consistent with the Servicing Standard and will be reasonably likely to realize a fair price (determined pursuant to Section 2.18(c) below) on a timely basis as required by Section 2.16. The Servicer may sell Specially Serviced Tower Sites
individually, in groups of one or more Specially Serviced Tower Sites or all of the Specially Serviced Tower Sites together (including through a sale of any or all of the Equity Interests), in each case as the Servicer may determine to be
appropriate in accordance with the Servicing Standard to maximize the proceeds thereof. Subject to Section 2.18(c) herein and Section 10.06 of the Indenture, the Servicer shall accept the highest cash offer received from any Person that
constitutes a fair price (determined pursuant to Section 2.18(c) below) for such Specially Serviced Tower Site or Specially Serviced Tower Sites. If the Servicer reasonably believes that it will be unable to realize a fair price (determined
pursuant to Section 2.18(c) below) for any Specially Serviced Tower Site on a timely basis as required by Section 2.16, the Servicer shall dispose of such Specially Serviced Tower Site upon such terms and conditions as the Servicer shall
deem necessary and desirable to maximize the recovery thereon under the circumstances; provided that notwithstanding anything to the contrary herein, the Servicer may sell a Specially Serviced Tower Site only if (a) the Servicer
determines in accordance with the Servicing Standard that such sale would be in the best interests of the Noteholders or (b) the Servicer is required to make a Debt Service Advance. In making the determination described in clause (a) of
the prior sentence, the Servicer shall be 

  

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entitled to rely on an estimate of the expected proceeds to be received from the sale of the Specially Serviced Tower Site made by a Valuation Expert, and
the Servicer shall have no liability if such estimate proves to be incorrect. Any determination by the Servicer pursuant to clause (a) or (b) of the fourth sentence of this paragraph (b) shall be evidenced by an Officer’s
Certificate delivered promptly to the Indenture Trustee and the Controlling Holders Representative setting forth the basis for such determination, accompanied by a copy of the related report prepared by the Valuation Expert, if applicable, and
further accompanied by any other information or reports that the Person making such determination may have obtained and that support such determination, the cost of which reports shall be reimbursable as a Servicing Advance. 
 The Servicer shall give the Indenture Trustee and the Controlling Holders Representative not less than ten (10) Business Days’ prior written
notice of its intention to sell any such Specially Serviced Tower Site pursuant to this Section 2.18(b). No Interested Person shall be obligated to submit (but none of them shall be prohibited from submitting) an offer to purchase such
Specially Serviced Tower Site, and notwithstanding anything to the contrary herein, none of the Indenture Trustee in its individual capacity or its Affiliates or agents may bid for or purchase such Specially Serviced Tower Site. 
 (c) Whether any cash offer constitutes a fair price for a Specially Serviced Tower Site or Specially Serviced Tower Sites shall be
determined by the Servicer or, if such cash offer is from the Servicer or an Affiliate thereof, by the Indenture Trustee. In determining whether any offer received from an Interested Person constitutes a fair price, the Servicer or the Indenture
Trustee shall be entitled to rely on (and will be protected in relying solely on) the most recent valuation (if any) conducted in accordance with this Agreement within the preceding 12-month period (or, in the absence of any such valuation or if
there has been a material change at the subject property since any such valuation, on a new valuation to be obtained by the Servicer (the cost of which shall be covered by the Servicer or the Indenture Trustee and be reimbursable as a Servicing
Advance)) and the Servicer or the Indenture Trustee shall be entitled to hire such advisor as it deems necessary in making such determination (the cost of which shall be reimbursed to it pursuant to the Indenture) and shall be entitled to rely
conclusively thereon. Such advisor conducting any such new valuation must be an independent valuation expert selected by the Servicer if neither the Servicer nor any Affiliate thereof is submitting an offer with respect to a Specially Serviced Tower
Site and selected by the Indenture Trustee if either the Servicer or any Affiliate thereof is so submitting an offer. Where any Interested Person is among those submitting offers with respect to any Specially Serviced Tower Site, the Servicer shall
require that all offers be submitted to it (and, if the Servicer is submitting an offer, such offer shall be submitted by it to the Indenture Trustee) in writing and be accompanied by a refundable deposit of cash in an amount equal to 5% of the
offer amount. 
 In determining whether any offer from a Person other than an Interested Person constitutes a fair price for any Specially
Serviced Tower Site or Specially Serviced Tower Sites, the Servicer shall take into account the results of any valuation or updated valuation that may have been obtained by it or any other Person and delivered to 

  

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the Indenture Trustee and the Servicer in accordance with this Agreement within the prior twelve months, and any independent valuation agent shall be
instructed to take into account, as applicable, among other factors, the occupancy level and physical condition of the Specially Serviced Tower Site or Specially Serviced Tower Sites, the Net Cash Flows generated by the Specially Serviced Tower Site
or Specially Serviced Tower Sites and the state of the telecommunications industry and the local economy. Any price shall be deemed to constitute a fair price if it is an amount that is not less than the Allocated Note Amount for the Tower Site or
Tower Sites that constitute such Specially Serviced Tower Site or Specially Serviced Tower Sites. Notwithstanding the other provisions of this Section 2.18, no cash offer from the Servicer or any Affiliate thereof shall constitute a fair price
for a Specially Serviced Tower Site unless such offer is the highest cash offer received and at least two (2) independent offers (not including the offer of the Servicer or any Affiliate) have been received. In the event the offer of the
Servicer or any Affiliate thereof is the only offer received or is the higher of only two offers received, then additional offers shall be solicited. If an additional offer or offers, as the case may be, are received and the original offer of the
Servicer or any Affiliate thereof is the highest of all cash offers received, then the bid of the Servicer or such Affiliate shall be accepted; provided that the Indenture Trustee has otherwise determined, as described above in this
Section 2.18(c), that such offer constitutes a fair price for such Specially Serviced Tower Site or Specially Serviced Tower Sites. Any offer by the Servicer shall be unconditional; and, if accepted, such Specially Serviced Tower Site or
Specially Serviced Tower Sites shall be transferred to the Servicer without recourse, representation or warranty other than customary representations as to title given in connection with the sale of real property. 
 (d) Subject to Sections 2.18(b) and 2.18(c) above and Section 10.06 of the Indenture, the Servicer shall act on behalf of the
Indenture Trustee, in accordance with the Servicing Standard, in negotiating with independent third parties and taking any other action necessary or appropriate in connection with the sale of any Specially Serviced Tower Site or Specially Serviced
Tower Sites, and the collection of all amounts payable in connection therewith. In connection therewith, the Servicer may charge prospective offerors, and may retain, fees that approximate the Servicer’s actual costs in the preparation and
delivery of information pertaining to such sales or evaluating bids without obligation to deposit such amounts into the Central Account. Any sale of any Specially Serviced Tower Site or Specially Serviced Tower Sites shall be final and without
recourse to the Indenture Trustee, and if such sale is consummated in accordance with the terms of this Agreement, neither the Servicer nor the Indenture Trustee shall have any liability to any Noteholder with respect to the purchase price therefor
accepted by the Servicer or the Indenture Trustee (including, without limitation, whether such purchase price was fair and/or adequate for such Specially Serviced Tower Site). 
 (e) The Servicer shall provide to a prospective purchaser of any Specially Serviced Tower Site or any of the Equity Interests such
information as the prospective purchaser may reasonably request (subject to Sections 2.11 and 2.12 of this Agreement and Section 11.11 of the Indenture). 
  

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 (f) Any sale of a Specially Serviced Tower Site or Specially Serviced Tower Sites shall
be for cash only and shall be on a servicing released basis. 
 (g) Notwithstanding any of the foregoing paragraphs of this
Section 2.18, the Servicer shall not be obligated to accept the highest cash offer if the Servicer determines, in accordance with the Servicing Standard, that rejection of such offer would be in the best interests of the Noteholders, and the
Servicer may, subject to Section 10.06 of the Indenture, accept a lower cash offer (from any Person other than itself or an Affiliate) if the Servicer determines, in accordance with the Servicing Standard, that acceptance of such offer would be
in the best interests of the Noteholders (for example, if the prospective buyer making the lower bid is more likely to perform its obligations or the terms (other than price) offered by the prospective buyer making the lower offer are more
favorable). 
 SECTION 2.19. Maintenance of Insurance by the Servicer. The Servicer shall at all times during the term of this
Agreement keep in force with Qualified Insurers that possess the Required Claims-Paying Ratings, a fidelity bond providing coverage against losses that may be sustained as a result of an officer’s or employee’s misappropriation of funds.
Such fidelity bond shall provide that it may not be canceled without thirty (30) days’ prior written notice to the Indenture Trustee. 
 In addition, the Servicer shall at all times during the term of this Agreement keep in force with Qualified Insurers that possess the Required Claims-Paying Ratings, a policy or policies of insurance covering loss occasioned by the errors
and omissions of its officers and employees in connection with its obligation to service the Notes for which it is responsible hereunder. Such errors and omissions policy shall provide that it may not be canceled without thirty (30) days’
prior written notice to the Indenture Trustee. 
 Notwithstanding the foregoing, so long as the long-term unsecured debt obligations of the
Servicer are rated at least “A2” by Moody’s and “A” by Fitch, the Servicer shall be allowed to provide self-insurance with respect to its fidelity bond and errors and omissions policy. The coverage shall be in the form and
amount that would meet the servicing requirements of prudent institutional commercial mortgage loan lenders and servicers. Coverage of the Servicer under a policy or bond by the terms thereof obtained by an Affiliate of the Servicer and providing
the required coverage shall satisfy the requirements of the first or second paragraph (as applicable) of this Section 2.19. 
 The
Servicer shall cause the Indenture Trustee to be an “additional insured” on any policy currently in place or procured pursuant to the requirements of this Section 2.19. 
  

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 ARTICLE III 
 COVENANTS OF INDENTURE TRUSTEE 
 SECTION 3.01. No Amendment of Indenture. The Indenture
Trustee shall not, without the consent of the Servicer, agree to any amendment or modification of the Indenture or any other Transaction Document the effect of which would materially increase the Servicer’s obligations or liabilities, or
materially decrease the Servicer’s rights or remedies, under this Agreement or under any other Transaction Document. 
 ARTICLE IV

 THE SERVICER 
 SECTION
4.01. Liability of the Servicer. The Servicer shall be liable in accordance herewith only to the extent of the respective obligations specifically imposed upon and undertaken by the Servicer under this Agreement. Notwithstanding the
foregoing, the Servicer shall indemnify and hold harmless the Indenture Trustee (for the benefit of the Secured Parties under the Indenture) against any loss, liability, cost or expense incurred by the Indenture Trustee (for the benefit of the
Secured Parties under the Indenture) arising from the Servicer’s willful misconduct, bad faith or negligence in the performance of obligations or duties hereunder or negligent disregard of such obligations or duties. 
 SECTION 4.02. Merger, Consolidation or Conversion of the Servicer. Subject to the following paragraph, the Servicer shall each keep in full effect
its existence, rights and franchises as a corporation, bank, trust company, partnership, limited liability company, association or other legal entity under the laws of the jurisdiction wherein it was organized, and shall obtain and preserve its
qualification to do business as a foreign entity in each jurisdiction in which such qualification is or shall be necessary to protect the validity and enforceability of this Agreement or the Notes and to perform its duties under this Agreement.

 The Servicer may be merged or consolidated with or into any Person, or transfer all or substantially all of its assets to any Person
(which, with respect to the Servicer, means its commercial mortgage servicing business), in which case, any Person resulting from any merger or consolidation to which the Servicer shall be a party, or any Person succeeding to the business of the
Servicer, shall be the successor hereunder, 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; provided, however, that no successor
or surviving Person shall succeed to the rights of the Servicer unless the Indenture Trustee shall have received Rating Agency Confirmation from each Rating Agency with respect to such succession at the Servicer’s cost and expense. 

SECTION 4.03. Limitation on Liability of the Servicer. (a) Neither the Servicer nor any of its directors, managers, members, officers,
employees or agents (collectively, the “Servicer Indemnified Parties”) shall be under any liability to the 

  

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Issuers, the Guarantor, the Manager, the Indenture Trustee or the Noteholders for any action taken, or not taken, in good faith pursuant to this Agreement,
or for errors in judgment; provided, however, that this provision shall not protect the Servicer Indemnified Parties against liability for any breach of a representation, warranty or covenant made herein, or against any expense or
liability specifically required to be borne thereby without right of reimbursement pursuant to the terms hereof, or against any liability that would otherwise be imposed by reason of willful misconduct, bad faith or negligence in the performance of
obligations or duties hereunder or by reason of negligent disregard of such obligations or duties. The Servicer Indemnified Parties may rely in good faith on any document of any fund which, prima facie, is properly executed and submitted by any
Person respecting any matters arising hereunder. The Servicer Indemnified Parties shall be indemnified and held harmless by the Issuers out of funds on deposit in the Central Account against any loss, liability, cost, claim or expense (including
costs and expenses of litigation and of investigation, reasonable counsel’s fees, damages, judgments and amounts paid in settlement) arising out of or incurred in connection with any legal action that relates to this Agreement, any other
Transaction Documents, the Notes, or any of the Assets, other than any such loss, liability, cost, claim or expense: (i) specifically required to be borne thereby pursuant to the terms hereof or otherwise incidental to the performance of
obligations and duties under this Agreement; (ii) that constitutes an Advance and is otherwise reimbursable pursuant to this Agreement or any other Transaction Documents (provided that this clause (ii) is not intended to limit the
Servicer’s right of recovery of liabilities and expenses incurred as a result of being the defendant, or participating in a proceeding to which another indemnified party under this Section 4.03 is a defendant, in legal action relating to
this Agreement); or (iii) that was incurred in connection with claims against such party resulting from (A) any breach of a representation, warranty or covenant made herein by such party or (B) willful misconduct, bad faith or
negligence in the performance of obligations or duties hereunder or negligent disregard of such obligations or duties or any willful or negligent violation of applicable law. The Servicer shall not be under any obligation to appear in, prosecute or
defend any legal action unless such action is related to its respective duties under this Agreement and, except in the case of a legal action contemplated by Section 2.14, in its opinion does not involve it in any ultimate expense or liability;
provided, however, that the Servicer may, in its discretion, undertake any such action which it may reasonably deem necessary or desirable with respect to the enforcement and/or protection of the rights and duties of the parties hereto
and the interests of the Noteholders hereunder or under the other Transaction Documents. In such event, the legal expenses and costs of such action, and any liability resulting therefrom, shall be expenses, costs and liabilities of the Issuers and
the Servicer shall be entitled to the direct payment of such expense, or to be reimbursed therefor, from the Central Account in accordance with the Transaction Documents. 
 The Servicer may consult with counsel, and any written advice or Opinion of Counsel shall be full and complete authorization and protection with respect to any action taken or suffered or omitted by it hereunder in
good faith and in accordance with such advice or Opinion of Counsel; provided that such counsel is selected in good faith. 
  

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 (b) No recourse may be taken, directly or indirectly, with respect to the obligations of
the Servicer under this Agreement or any other Transaction Document or any certificate or other writing delivered in connection herewith or therewith, against any partner, owner, beneficiary, agent, officer, director, employee or agent of the
Servicer, in its individual capacity, any holder of equity in the Servicer or in any successor or assign of the Servicer in its individual capacity, except as any such Person may have expressly agreed. 
 In connection with any security interest or lien granted in favor of the Indenture Trustee for the benefit of the Servicer, the Servicer covenants and
agrees that the Indenture Trustee is authorized to take all action permitted under the Transaction Documents and to apply any monies received by the Indenture Trustee in accordance with the Indenture and the other Transaction Documents. The Servicer
covenants and agrees to abide by and perform the terms of the Indenture applicable to it as if it is a party thereto, acting at all times in accordance with the Servicing Standard. The Servicer appoints the Indenture Trustee to act as collateral
agent for the Servicer in the applicable Transaction Documents where the Indenture Trustee is the named beneficiary of a security interest or lien for the benefit of the Servicer, the Indenture Trustee, and the Noteholders. 
 This Section 4.03 shall survive the termination of this Agreement or the termination or resignation of the Servicer as it regards rights and
obligations prior to such termination or resignation. 
 SECTION 4.04. Servicer Resignation. The Servicer may resign from the
obligations and duties hereby imposed on it, upon a determination that its duties hereunder are no longer permissible under applicable law or are in material conflict by reason of applicable law with any other activities carried on by it (the other
activities of the Servicer so causing such a conflict being of a type and nature carried on by the Servicer at the date of this Agreement). Any such determination requiring the resignation of the Servicer shall be evidenced by an Opinion of Counsel
to such effect which shall be delivered to the Indenture Trustee. In addition, notwithstanding anything to the contrary contained herein, if the Servicer has determined that the Servicer would be exposed to any liability under any environmental law,
rule or regulation as a result of foreclosure on any portion of the Collateral and the Indenture Trustee and/or any of the Noteholders (or any other party entitled to compel a foreclosure under the Transaction Documents) has elected to proceed with
such foreclosure, the Servicer may resign immediately from the obligations and duties hereby imposed on it. Except for the case of a foreclosure in which the Servicer has determined it would be exposed to environmental liability (as described above)
or unless applicable law requires the Servicer’s resignation to be effective immediately, and the Opinion of Counsel delivered pursuant to this Section 4.04 so states, no such resignation shall become effective until the Indenture Trustee
or other successor shall have assumed the responsibilities and obligations of the resigning party in accordance with Section 4.06 or Section 5.02 hereof; provided that, if no successor Servicer shall have been so appointed and have
accepted appointment within ninety (90) days after the Servicer has given notice of such resignation, the resigning Servicer may petition any court of competent jurisdiction for the appointment of a successor Servicer. 
  

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 In addition, the Servicer shall have the right to resign or assign its servicing rights at any other
time; provided that (i) a willing successor thereto (proposed by the resigning Servicer and reasonably acceptable to the Controlling Holders Representative) has been identified, (ii) the Indenture Trustee has received a Rating
Agency Confirmation from Fitch and prior written notice to Moody’s has been provided, (iii) the resigning party pays all costs and expenses in connection with such transfer, and (iv) the successor accepts appointment prior to the
effectiveness of such resignation or assignment and accepts the duties and obligations of the Servicer under this Agreement and the other Transaction Documents. 
 The Servicer shall not be permitted to resign except as contemplated above in this Section 4.04. 
 Consistent with the foregoing, the Servicer shall not (except in connection with any resignation thereby permitted pursuant to this Section 4.04 or as otherwise expressly provided herein, including the provisions of Section 2.14
and/or Section 4.02) assign or transfer any of its rights, benefits or privileges hereunder to any other Person. Upon resignation in accordance with this Section 4.04, the Servicer shall be entitled to receive all unpaid fees due in
accordance with Section 2.04 and reimbursement for Advances, including the applicable Advance Interest, and Additional Issuer Expenses. 
 SECTION 4.05. Rights of the Indenture Trustee in Respect of the Servicer. The Servicer shall furnish the Indenture Trustee with its most recent publicly available annual audited financial statements (or, if not available, the most
recent publicly available audited annual financial statements of its corporate parent, on a consolidated basis) and, upon reasonable request, such other information as is publicly available regarding its business, affairs, property and condition,
financial or otherwise. The Servicer may affix to any such information described in this Section 4.05 provided by it any disclaimer it deems appropriate in its reasonable discretion. The Indenture Trustee may, but is not obligated to, enforce
the obligations of the Servicer hereunder and may, but is not obligated to, perform, or cause a designee to perform, any defaulted obligation of the Servicer hereunder or exercise the rights of the Servicer hereunder; provided,
however, that the Servicer shall not be relieved of any of its obligations hereunder by virtue of such performance by the Indenture Trustee or its designee. The standards of care, limitation on liability and rights to indemnities set forth in
Article XI of the Indenture shall apply to the duties and obligations of the Indenture Trustee hereunder. The Indenture Trustee shall not have any responsibility or liability for any action or failure to act by the Servicer or any of its
Sub-Servicers and is not obligated to supervise the performance of the Servicer or any of its Sub-Servicers under this Agreement or otherwise. 
 SECTION 4.06. Designation of Servicer by the Controlling Holders Representative. The Controlling Holders Representative may, during such time as the Notes are Specially Serviced Notes, designate a Person (other than the Indenture
Trustee) to replace any existing Servicer or any Servicer that has resigned or otherwise ceased to serve as Servicer, such successor Servicer to be reasonably acceptable to the Indenture Trustee. The Controlling Holders Representative shall so
designate a Person to so serve 

  

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as successor Servicer by the delivery to the Indenture Trustee, the proposed successor Servicer and the existing Servicer of a written notice stating such
designation. The Indenture Trustee shall, promptly after receiving any such notice, deliver to the Rating Agencies an executed Notice and Acknowledgment in the form attached hereto as Exhibit B. The designated Person shall become the Servicer on the
date as of which: (i) the Indenture Trustee shall have received Rating Agency Confirmation from Fitch and provided prior written notice to Moody’s; and (ii) the Indenture Trustee shall have received an Acknowledgment of Proposed
Servicer in the form attached hereto as Exhibit C, executed by the designated Person together with an Opinion of Counsel (which shall not be an expense of the Indenture Trustee) substantially to the effect that (A) the designation of such
Person to serve as Servicer is in compliance with this Section 4.06, (B) the designated Person is duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization, (C) the Acknowledgment of
Proposed Servicer has been duly authorized, executed and delivered by the designated Person and (D) upon the execution and delivery of the Acknowledgment of Proposed Servicer, the designated Person shall be bound by the terms of this Agreement
and, subject to customary bankruptcy and insolvency exceptions and customary equity exceptions, that this Agreement shall be enforceable against the designated Person in accordance with its terms. Any existing Servicer shall be deemed to have been
terminated simultaneously with such designated Person’s becoming the Servicer hereunder; provided that (i) the successor Servicer pays or agrees to pay the terminated Servicer an amount equal to (A) all outstanding Debt Service
Advances and Servicing Advances made by the terminated Servicer and all unpaid Advance Interest accrued on such outstanding Debt Service Advances and Servicing Advances (in which case the successor Servicer shall be deemed to have made such Debt
Service Advances and Servicing Advances at the same time that the terminated Servicer had actually made them), (B) unpaid Servicing Fees and (C) any outstanding Additional Issuer Expenses previously made or incurred by the terminated
Servicer and any other amounts to which the terminated Servicer is entitled and which remain unpaid or unreimbursed and (ii) such terminated Servicer shall continue to be entitled to the benefits of Section 4.03, notwithstanding any such
resignation or termination; and provided further that the terminated Servicer shall continue to be obligated to pay and entitled to receive all other amounts accrued or owing by or to it under this Agreement or under any of the other
Transaction Documents on or prior to the effective date of such termination and shall continue to be entitled to receive all Workout Fees payable pursuant to Section 2.04 hereof following such termination. Such terminated Servicer shall
cooperate with the Indenture Trustee and the replacement Servicer in effecting the transfer of the terminated Servicer’s responsibilities and rights hereunder to its successor, including the transfer within two (2) Business Days to the
replacement Servicer for administration by it of all cash amounts that at the time are or should have been credited by the Servicer to the Impositions and Insurance Reserve Sub-Account or any Sub-Account or should have been delivered to the Servicer
or that are thereafter received by or on behalf of it with respect to the Notes. The reasonable out-of-pocket costs and expenses of any such transfer shall in no event be paid by the Indenture Trustee or the terminated Servicer, and instead shall be
paid by the successor Servicer. 
 SECTION 4.07. Servicer as Owner of a Note. The Servicer or an Affiliate of the Servicer may become
the Holder of any Note with the same rights it 

  

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would have if it were not the Servicer or an Affiliate thereof. If, at any time during which the Servicer or an Affiliate thereof is the Holder of (or, in
the case of a Book-Entry Note, Note Owner with respect to) any Note, the Servicer proposes to take any action (including for this purpose, omitting to take a particular action) that is not expressly prohibited by the terms hereof and would not, in
the Servicer’s reasonable judgment, violate the Servicing Standard, but that, if taken, might nonetheless, in the Servicer’s reasonable judgment, be considered by other Persons to violate the Servicing Standard, then the Servicer may (but
need not) seek the approval of the Noteholders to such action by delivering to the Indenture Trustee a written notice that (a) states that it is delivered pursuant to this Section 4.07, (b) identifies the Percentage Interest in each
Class of Notes beneficially owned by the Servicer or by an Affiliate thereof and (c) describes in reasonable detail the action that the Servicer proposes to take. The Indenture Trustee, upon receipt of such notice, shall forward it to the
Noteholders (other than the Servicer and its Affiliates), together with a request for approval by the Noteholders of each such proposed action. If at any time the Noteholders entitled to more than 50% of the Voting Rights (calculated without regard
to the Notes beneficially owned by the Servicer or its Affiliates) shall have consented in writing to the proposal described in the written notice, and if the Servicer shall act as proposed in the written notice, such action shall be deemed to
comply with the Servicing Standard. The Indenture Trustee shall be entitled to reimbursement from the Servicer for the reasonable expenses of the Indenture Trustee incurred pursuant to this paragraph. It is not the intent of the foregoing provision
that the Servicer be permitted to invoke the procedure set forth herein with respect to routine servicing matters arising hereunder, but rather in the case of unusual circumstances. 
 ARTICLE V 
 SERVICER TERMINATION EVENTS 
 SECTION 5.01. Servicer Termination Events. (a) “Servicer Termination Events”, wherever used herein, means any one of the
following events: 
 (i) any failure by the Servicer to deposit or to remit to the appropriate party for deposit into the
Central Account or any other Account, any amount required to be so deposited by the Servicer under this Agreement, which failure continues unremedied for one (1) Business Day following the date on which such deposit or remittance was first
required to be made by the Servicer; or 
 (ii) any failure by the Servicer to remit to the Indenture Trustee for deposit into
the Central Account any amount required by this Agreement to be so remitted by the Servicer (including any Debt Service Advance) by 1:00 p.m. (New York City time) on the related Payment Date; or 
 (iii) any failure on the part of the Servicer duly to observe or perform in any material respect any other of the covenants or obligations
on the part of the Servicer contained in this Agreement, which failure continues unremedied for a period of thirty (30) days (or, in the case of Servicing Advances for the payment of insurance premiums, for a period of fifteen (15) days,
but in no event past the 

  

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date on which the related insurance coverage expires) after the earlier of (A) the date on which a Servicing Officer obtains knowledge of such failure
and (B) the date on which written notice of such failure, requiring the same to be remedied, shall have been given to the Servicer by any other party hereto or to the Servicer (with a copy to each other party hereto) by the Noteholders entitled
to at least 25% of the Voting Rights; or 
 (iv) any breach on the part of the Servicer of any representation or warranty
contained in this Agreement that materially and adversely affects the interests of Noteholders of any Class and which continues unremedied for a period of sixty (60) days after the earlier of (A) the date on which a Servicing Officer
obtains knowledge of such breach and (B) the date on which written notice of such breach, requiring the same to be remedied, shall have been given to the Servicer by any other party hereto or to the Servicer (with a copy to each other party
hereto) by the Noteholders entitled to at least 25% of the Voting Rights; or 
 (v) 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, marshalling of assets and liabilities or similar proceedings is entered against the Servicer and such decree or order remains in force undischarged, undismissed or unstayed for a period
of sixty (60) days; or 
 (vi) the Servicer consents to the appointment of a conservator, receiver, liquidator, trustee
or similar official in any bankruptcy, insolvency, readjustment of debt, marshalling of assets and liabilities or similar proceedings of or relating to it or of or relating to all or substantially all of its property; or 
 (vii) the Servicer admits in writing its inability to pay its debts generally as they become due, or takes any other actions indicating
its insolvency or inability to pay its obligations; or 
 (viii) one or more ratings assigned by either Rating Agency to the
Notes has been qualified, downgraded or withdrawn, or otherwise made the subject of a “negative” credit watch, which such Rating Agency has determined is a result of the Servicer acting in such capacity; or 
 (ix) the Servicer is no longer “approved” as a master servicer or, if the Notes are Specially Serviced Notes, as a special
servicer, by either Rating Agency. 
 (b) If a Servicer Termination Event described in clause (i) or (ii) of
Section 5.01(a) relating to the Servicer (for purposes of this Section 5.01(b), the “Defaulting Party”) shall occur and be continuing, the Indenture Trustee shall immediately terminate all of the rights (other than rights
to indemnification pursuant to Section 4.03 and those rights to compensation which expressly survive such 

  

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termination pursuant to Section 2.04 and Section 2.03(d) and any other amounts to which the Servicer is entitled which remain unpaid or
unreimbursed) and obligations of the Defaulting Party under this Agreement other than any rights thereof as a Noteholder and the Indenture Trustee shall be the successor Servicer hereunder as provided for in Section 5.02 hereof. If a Servicer
Termination Event other than with respect to a Servicer Termination Event described in clause (i) or (ii) of Section 5.01(a), shall occur and be continuing, then, and in each and every such case, so long as the Servicer Termination
Event shall not have been remedied within the applicable grace period, the Indenture Trustee may, and at the written direction of the Controlling Holders Representative or the Noteholders entitled to at least 25% of the Voting Rights of all of the
Notes, the Indenture Trustee shall (subject to applicable bankruptcy or insolvency law in the case of clauses (v) through (vii) of Section 5.01(a)), terminate, by notice in writing to the Defaulting Party (with a copy of such notice
to each other party hereto), all of the rights (other than rights to indemnification pursuant to Section 4.03 and those rights to compensation which expressly survive such termination pursuant to Section 2.04 and Section 2.03(d)) and
obligations (accruing from and after such notice) of the Defaulting Party under this Agreement and the Indenture Trustee shall be the successor Servicer hereunder as provided for in Section 5.02 hereof. From and after the receipt by the
Defaulting Party of such written notice, all authority and power of the Defaulting Party under this Agreement, whether with respect to the Notes (other than as a Noteholder) or otherwise, shall pass to and be vested in the Indenture Trustee pursuant
to and under this Section, and, without limitation, the Indenture Trustee is hereby authorized and empowered to execute and deliver, on behalf of and at the expense of the Defaulting 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. The Servicer agrees that, if it is terminated pursuant to this Section 5.01(b), it shall promptly
(and in any event no later than ten (10) Business Days subsequent to its receipt of the notice of termination) provide the Indenture Trustee or its designee with all documents and records reasonably requested thereby to enable the Indenture
Trustee to assume the Servicer’s functions hereunder, and shall otherwise cooperate with the Indenture Trustee in effecting the termination of the Servicer’s responsibilities and rights hereunder, including the transfer within two
(2) Business Days to the Indenture Trustee or its designee for administration by it of all cash amounts that at the time are or should have been credited by the Servicer to the Central Account or any Sub-Account held by it (if it is the
Defaulting Party) or that are thereafter received by or on behalf of it with respect to the Notes (provided, however, that the Servicer shall, if terminated pursuant to this Section 5.01(b), continue to be obligated to pay and
entitled to receive all amounts accrued or owing by or to it under this Agreement or the other Transaction Documents on or prior to the date of such termination, whether in respect of Advances, Advance Interest, Additional Issuer Expenses and other
unpaid fees due under Section 2.04 or otherwise, and it and its directors, officers, employees and agents shall continue to be entitled to the benefits of Section 4.03 notwithstanding any such termination). Any costs or expenses (including
those of any other party hereto) incurred in connection with any actions to be taken by the Servicer pursuant to this paragraph shall be borne by the Servicer (and, in the case of the Indenture Trustee’s reasonable out-of-pocket costs and
expenses, if not paid within a reasonable time, shall be paid out of the Central Account). 
  

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 Notwithstanding the foregoing, if the rights of the Servicer are to be terminated solely due to a
Servicer Termination Event under Section 5.0l(a)(viii) or (ix), and if the terminated Servicer provides the Indenture Trustee with appropriate “request for proposal” materials within the five (5) Business Days after such
termination, then the Indenture Trustee shall promptly thereafter (using such materials) solicit good faith bids for the rights to service the Notes under this Agreement from at least three (3) Persons that are qualified to act as Servicer
hereunder in accordance with Sections 4.02 and 5.02 and as to which Fitch has delivered Rating Agency Confirmation and prior written notice shall be provided to Moody’s with respect to the appointment of each such Person as successor
Servicer (any such Person so qualified, a “Qualified Bidder”) or, if three (3) Qualified Bidders cannot be located, then from as many Persons as the Indenture Trustee can determine are Qualified Bidders; provided that at
the Indenture Trustee’s request, the terminated Servicer shall supply the Indenture Trustee with the names of Persons from whom to solicit such bids; and provided further that the Indenture Trustee shall not be responsible if less than
three (3) or no Qualified Bidders submit bids for the right to service the Notes under this Agreement. The bid proposal shall require any Successful Bidder, as a condition of such bid, to enter into this Agreement as successor Servicer, and to
agree to be bound by the terms hereof, within forty-five (45) days after the termination of Servicer. The Indenture Trustee shall select the Qualified Bidder with the highest cash bid (the “Successful Bidder”) to act as
successor Servicer hereunder. The Indenture Trustee shall direct the Successful Bidder to enter into this Agreement as successor Servicer pursuant to the terms hereof no later than forty-five (45) days after the start of the bid process
described above. Notwithstanding anything herein to the contrary, until the Successful Bidder has so entered into this Agreement as successor Servicer, the predecessor Servicer shall continue to act as the Servicer hereunder. 
 Upon the assignment and acceptance of the servicing rights hereunder to and by the Successful Bidder, the Indenture Trustee shall remit or cause to be
remitted to the terminated Servicer 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). 
 If the Successful Bidder has not entered into this Agreement as successor Servicer within forty-five (45) days after the start of the bid process
described above or no Successful Bidder was identified within such 45-day period, the terminated Servicer shall reimburse the Indenture Trustee for all reasonable “out-of-pocket” expenses incurred by the Indenture Trustee in connection
with such bid process and the Indenture Trustee shall have no further obligations under this Section 5.01(b). The Indenture Trustee thereafter may act or may select a successor to act as Servicer hereunder in accordance with Section 5.02.

 SECTION 5.02. Indenture Trustee to Act; Appointment of Successor. On and after the time the Servicer resigns pursuant to
Section 4.04 or receives a notice of termination pursuant to Section 5.01, the Indenture Trustee shall (unless a successor is 

  

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identified by the Servicer pursuant to Section 4.04), subject to Sections 4.06 and 5.01(b), be the successor in all respects to the Servicer in its
capacity as such under this Agreement and the transactions set forth or provided for herein and shall be subject to all of the responsibilities, duties and liabilities relating thereto and arising thereafter placed on the Servicer by the terms and
provisions hereof, including the Servicer’s obligation to make Advances; provided, however, that any failure to perform such duties or responsibilities caused by the Servicer’s failure to cooperate or to provide information
or monies as required by Section 5.01 shall not be considered a default by the Indenture Trustee hereunder. Neither the Indenture Trustee nor any other successor shall be liable for any of the representations and warranties of the resigning or
terminated party or for any losses incurred by the resigning or terminated party. As compensation therefor, the Indenture Trustee shall be entitled to all fees and other compensation which the resigning or terminated party would have been entitled
to for future services rendered if the resigning or terminated party had continued to act hereunder. Notwithstanding the above, if it is unwilling to so act, the Indenture Trustee may (and, if it is unable to so act, or if the Indenture Trustee is
not approved as an acceptable Servicer by each Rating Agency, or if the Noteholders entitled to more than 50% of the Voting Rights so request in writing, the Indenture Trustee shall), subject to Sections 4.04, 4.06 and 5.01(b) (if applicable),
promptly appoint, or petition a court of competent jurisdiction to appoint, any established and qualified institution with a net worth of at least $10 million as the successor to the Servicer hereunder in the assumption of all or any part of the
responsibilities, duties or liabilities of the Servicer hereunder; provided, however, that the Indenture Trustee has received Rating Agency Confirmation from Fitch and has provided prior written notice to Moody’s with respect to
the proposed successor Servicer. Pending such appointment, the Indenture Trustee will be obligated to act as successor Servicer. No appointment of a successor to the Servicer hereunder shall be effective until the assumption by such successor of all
its responsibilities, duties and liabilities hereunder, and pending such appointment and assumption, the Indenture Trustee shall act in such capacity as hereinabove provided. In connection with any such appointment and assumption, the Indenture
Trustee may make such arrangements for the compensation of such successor out of payments on the Notes or otherwise as it and such successor shall agree; provided, however that no such compensation shall be in excess of that permitted
the resigning or terminated party hereunder. The Indenture Trustee, such successor and each other party hereto shall take such action, consistent with this Agreement, as shall be necessary to effectuate any such succession. The reasonable
out-of-pocket costs and expenses of transferring servicing shall be paid by the resigning or terminated party, and if not so paid, shall be treated as an Additional Issuer Expense under the Indenture. 
 If the Servicer is terminated as described in Sections 5.01 and 5.02, it will continue to be obligated to pay and entitled to receive all amounts
accrued and owing by it or to it under (and at such times as set forth in) this Agreement and the Transaction Documents on or prior to the date of termination (including the payment to the Servicer of any earned but unpaid Servicing Fees, Special
Servicing Fees, Workout Fees and Liquidation Fees and unreimbursed Advances (together with Advance Interest thereon)). 
  

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 SECTION 5.03. Notification to Noteholders. (a) Upon any resignation of the Servicer pursuant
to Section 4.04, any termination of the Servicer pursuant to Section 5.01, any appointment of a successor to the Servicer pursuant to Section 4.02, 4.04 or 5.02 or the effectiveness of any designation of a new Servicer pursuant to
Section 4.06, the Indenture Trustee shall give prompt written notice thereof to Noteholders at their respective addresses appearing in the Note Register. 
 (b) Not later than the later of (i) sixty (60) days after the occurrence of any event which constitutes or, with notice or lapse
of time or both, would constitute a Servicer Termination Event and (ii) five (5) Business Days after a Responsible Officer of the Indenture Trustee has actual knowledge of the occurrence of such an event, the Indenture Trustee shall
transmit by mail to all Noteholders notice of such occurrence, unless such default shall have been cured. 
 SECTION 5.04. Waiver of
Servicer Termination Events. The Noteholders entitled to at least 66-2/3% of the Voting Rights allocated to each Class of Notes affected by any Servicer Termination Event hereunder may waive such Servicer Termination Event. Upon any such waiver
of a Servicer Termination Event, such Servicer Termination Event shall cease to exist and shall be deemed to have been remedied for every purpose hereunder. No such waiver shall extend to any subsequent or other Servicer Termination Event or impair
any right consequent thereon except to the extent expressly so waived. 
 SECTION 5.05. Additional Remedies of Indenture Trustee upon
Servicer Termination Event. During the continuance of any Servicer Termination Event, so long as such Servicer Termination Event shall not have been remedied, the Indenture Trustee, in addition to the rights specified in Section 5.01, shall
have the right (exercisable subject to the Indenture), in its capacity as trustee, 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 Noteholders (including the institution and prosecution of all judicial, administrative and other proceedings and the filings of proofs of claim and debt in connection therewith). 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. 
 ARTICLE VI 
 TERMINATION 
 SECTION 6.01.
Termination upon Payment of the Notes. Except with respect to the provisions of the Agreement which expressly survive (including without limitation Servicer’s and each Servicer Indemnified Party’s rights to be indemnified and
Servicer’s right to receive payments of any amounts which remain unpaid or unreimbursed to it), the respective obligations and responsibilities under this Agreement of the parties hereto shall terminate upon payment to the Noteholders (or
provision for payment including defeasance in accordance with the Indenture) of all amounts of 

  

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principal and interest to be so paid, in accordance with the Indenture and the applicable Indenture Supplement and payment of all other Obligations under the
Transaction Documents. 
 SECTION 6.02. Termination on Issuance of Additional Notes. Notwithstanding anything to the contrary set
forth herein or in any of the other Transaction Documents (including, but not limited to, the second and third paragraphs of Section 4.04 of this Agreement), if the Issuers issue Additional Notes and the Servicer does not consent to continue
its obligations under the Servicing Agreement (including its obligation to make Advances), the Servicing Agreement may be terminated by the Issuers, the Indenture Trustee or the Servicer. If this Agreement is terminated pursuant to this
Section 6.02, the Servicer will (upon such termination) be entitled to reimbursement for unreimbursed Additional Issuer Expenses and Advances, including any applicable Advance Interest, and payment of any fees due under Section 2.04 or any
other amounts to which the Servicer is entitled and which remain unpaid or unreimbursed. 
 ARTICLE VII 
 MISCELLANEOUS PROVISIONS 
 SECTION
7.01. Amendment. (a) This Agreement may be amended from time to time by the mutual agreement of the parties hereto; provided, however, that no such amendment shall (i) adversely affect in any material respect the
interests of the holders of any Class of Notes in any manner, without the consent of the Noteholders entitled to more than 50% of the Voting Rights of such affected Class, or (ii) modify the definition of “Servicing Standard”, without
the consent of all of the Noteholders. 
 (b) Notwithstanding any contrary provision of this Agreement, the Indenture Trustee
shall not consent to any amendment to this Agreement unless it shall first have obtained a Rating Agency Confirmation from Fitch and prior written notice has been provided to Moody’s. 
 (c) Promptly after the execution and delivery of any amendment by all parties thereto, the Indenture Trustee shall send a copy thereof to
each Noteholder and to each Rating Agency. 
 (d) It shall not be necessary for the consent of Noteholders under this
Section 7.01 to approve the particular form of any proposed amendment, but it shall be sufficient if such consent shall approve the substance thereof. The manner of obtaining such consents and of evidencing the authorization, execution and
delivery thereof by Noteholders shall be subject to such reasonable regulations as the Indenture Trustee may prescribe. 
 (e)
Each of the Indenture Trustee and the Servicer may but shall not be obligated to enter into any amendment pursuant to this Section 7.01 that affects its rights, duties and immunities under this Agreement or otherwise. 
  

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 SECTION 7.02. Counterparts. For the purpose of facilitating the recordation of this Agreement as
herein provided and for other purposes, 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. 
 SECTION 7.03. Governing Law. THIS AGREEMENT AND THE CERTIFICATES SHALL BE CONSTRUED IN ACCORDANCE WITH THE SUBSTANTIVE
LAWS OF THE STATE OF NEW YORK APPLICABLE TO AGREEMENTS MADE AND TO BE PERFORMED ENTIRELY IN SAID STATE, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. THE PARTIES HERETO INTEND
THAT THE PROVISIONS OF SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW SHALL APPLY TO THIS AGREEMENT. 
 SECTION 7.04. Notices.
Any communications provided for or permitted hereunder shall be in writing (including by facsimile) and, unless otherwise expressly provided herein, shall be deemed to have been duly given when delivered to or, in the case of facsimile notice, when
received: (i) in the case of the Servicer, Midland Loan Services, Inc. 10851 Mastin, Suite 300, Overland Park, Kansas, 66210, Attention: President, facsimile number: (913) 253-9733; (ii) in the case of the Indenture Trustee, The Bank
of New York Mellon Trust Company, N.A., 601 Travis Street, 16th Floor, Houston, Texas 77002, Attention: Corporate Trust Services, re Pinnacle Towers Acquisition Holdings LLC, facsimile number: (713) 483-6959; and (iii) in the case of the
Rating Agencies, (A) Fitch Inc., One State Street Plaza, New York, New York 10004, Attention: Jenny Story, and (B) Moody’s Investor Services, Inc., 7 World Trade Center at 250 Greenwich Street, New York, New York, 10007, Attention:
Jay Eisbruck; or as to each such Person such other address and/or facsimile number as may hereafter be furnished by such Person to the parties hereto in writing. Any communication required or permitted to be delivered to a Noteholder shall be deemed
to have been duly given when mailed first class, postage prepaid, to the address of such holder as shown in the Note Register. 
 SECTION
7.05. 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 such covenant(s), agreement(s), provision(s) or term(s) 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 Notes or the rights of the holders
thereof. 
 SECTION 7.06. Successors and Assigns; Beneficiaries. The provisions of this Agreement shall be binding upon and inure to
the benefit of the parties hereto, their respective successors and assigns and, as third party beneficiaries (with all right to enforce the obligations hereunder intended for their benefit as if a party hereto). 
  

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 SECTION 7.07. Article and Section Headings. The article and section headings herein are for
convenience of reference only, and shall not limit or otherwise affect the meaning hereof. 
 SECTION 7.08. Notices to and from the Rating
Agencies. The Servicer shall furnish each Rating Agency such information with respect to the Notes as such Rating Agency shall reasonably request and which the Servicer can reasonably provide to the extent consistent with applicable law and the
Transaction Documents. In any event, the Servicer shall notify each Rating Agency with respect to each of the following of which it has actual knowledge: 
 (i) any change in the lien priority of the Collateral securing the Notes; 
 (ii) any
assumption of, or release or substitution of Collateral for, the Notes; 
 (iii) any defeasance of or material damage to any
Tower Site; and 
 (iv) the occurrence of an Event of Default under the Indenture. 
 The Servicer shall also promptly deliver to each Rating Agency copies of the following items (in each case, at or about the same time that it delivers or
causes the delivery of such item to the Indenture Trustee): 
 (i) each of its Annual Performance Certificates; and

 (ii) each of its Annual Accountant Reports. 
 SECTION 7.09. Notices to Controlling Holders Representative. Upon request, including a one-time standby request, the Servicer shall deliver to the Controlling Holders Representative a copy of each notice or
other item of information the Servicer is required to deliver to the Rating Agencies pursuant to Section 7.08, in each case simultaneously with the delivery thereof to the Rating Agencies. The Controlling Holders Representative must compensate
the Servicer for any costs involved in such delivery to the Controlling Holders Representative. 
 SECTION 7.10. Complete Agreement.
This Agreement embodies the complete agreement among the parties and may not be varied or terminated except by a written agreement conforming to the provisions of Section 7.01. All prior negotiations or representations of the parties are merged
into this Agreement and shall have no force or effect unless expressly stated herein. 
  

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 IN WITNESS WHEREOF, the parties hereto have caused their names to be signed hereto by their respective
officers thereunto duly authorized, in each case as of the day and year first above written. 
  

			
	 MIDLAND LOAN SERVICES, INC.
 as
Servicer

		
	By:	 	 /s/    Lawrence D. Ashley

	Name:	 	Lawrence D. Ashley
	Title:	 	Senior Vice President
	
	 THE BANK OF NEW YORK MELLON
 TRUST COMPANY,
N.A.,
 as Indenture Trustee

		
	By:	 	 /s/    Julie Hoffman-Ramos

	Name:	 	Julie Hoffman-Ramos
	Title:	 	Assistant Treasurer


  

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