Exhibit 4.15


EXECUTION VERSION


CO-LENDER AGREEMENT


Dated as of February 5, 2020


by and between


JPMORGAN CHASE BANK, NATIONAL ASSOCIATION

as Initial Note A-1 Holder


JPMORGAN CHASE BANK, NATIONAL ASSOCIATION

as Initial Note A-2 Holder


JPMORGAN CHASE BANK, NATIONAL ASSOCIATION

as Initial Note A-3 Holder


JPMORGAN CHASE BANK,
NATIONAL ASSOCIATION

as Initial Note A-4 Holder


and


JPMORGAN CHASE BANK, NATIONAL ASSOCIATION

as Initial Note B Holder


181 West Madison


 




    	 



    	 



    

TABLE OF CONTENTS


Page




	Section 1.   Definitions	3
	Section 2.   Servicing of the Mortgage Loan.	16
	Section 3.   Priority of Payments	20
	Section 4.   Workout	22
	Section 5.   Administration of the Mortgage Loan.	22
	Section 6.   Appointment of Controlling Note Holder Representative and Non-Controlling Note Holder Representative.	25
	Section 7.   Appointment of Special Servicer	29
	Section 8.   Payment Procedure.	30
	Section 9.   Limitation on Liability of the Note Holders	31
	Section 10.   Bankruptcy	32
	Section 11.   Representations of the Note Holders	32
	Section 12.   No Creation of a Partnership or Exclusive Purchase Right	33
	Section 13.   Other Business Activities of the Note Holders	33
	Section 14.   Sale of the Notes.	33
	Section 15.   Registration of the Notes and Each Note Holder	36
	Section 16.   Governing Law; Waiver of Jury Trial	37
	Section 17.   Submission To Jurisdiction; Waivers	37
	Section 18.   Modifications	37
	Section 19.   Successors and Assigns; Third Party Beneficiaries	38
	Section 20.   Counterparts	38
	Section 21.   Captions	38
	Section 22.   Severability	38
	Section 23.   Entire Agreement	38
	Section 24.   Withholding Taxes	38
	Section 25.   Custody of Mortgage Loan Documents	40
	Section 26.   Cooperation in Securitization.	40
	Section 27.   Notices	41
	Section 28.   Broker	41
	Section 29.   Certain Matters Affecting the Agent.	41
	Section 30.   Termination and Resignation of Agent	42
	Section 31.   Resizing	42






    	 



    	 



    




THIS CO-LENDER AGREEMENT
(this “Agreement”), dated as of February 5, 2020, by and between JPMORGAN CHASE BANK, NATIONAL ASSOCIATION (“JPM”
and together with its successors and assigns in interest, in its capacity as initial owner of Note A-1, the “Initial Note
A-1 Holder”, and in its capacity as the initial agent, the “Initial Agent”), JPMORGAN CHASE BANK,
NATIONAL ASSOCIATION (together with its successors and assigns in interest, in its capacity as initial owner of Note A-2, the “Initial
Note A-2 Holder”), JPMORGAN CHASE BANK, NATIONAL ASSOCIATION (together with its successors and assigns in interest, in
its capacity as initial owner of Note A-3, the “Initial Note A-3 Holder”), JPMORGAN CHASE BANK, NATIONAL ASSOCIATION
(together with its successors and assigns in interest, in its capacity as initial owner of Note A-4, the “Initial Note
A-4 Holder”), and JPMORGAN CHASE BANK, NATIONAL ASSOCIATION (together with its successors and assigns in interest, in
its capacity as initial owner of Note B, the “Initial Note B Holder” and, together with the Initial Note A-1
Holder, the Initial Note A-2 Holder, the Initial Note A-3 Holder and the Initial Note A-4 Holder, the “Initial Note Holders”).







W I T N E S E T H:


WHEREAS, pursuant
to the Mortgage Loan Agreement (as defined herein), the Initial Note Holders originated a certain loan (the “Mortgage
Loan”) described on the schedule attached hereto as Exhibit A (the “Mortgage Loan Schedule”)
to 181 West Madison Property LLC (the “Mortgage Loan Borrower”), which is evidenced by, among other things,
five Notes (as further described below) in the aggregate original principal amount of $240,000,000 made by the Mortgage Loan Borrower
in favor of the Initial Note Holders, and secured by a first mortgage (as amended, modified or supplemented, the “Mortgage”)
on certain real property located as described in the Mortgage Loan Agreement (the “Mortgaged Property”);


WHEREAS, the Mortgage
Loan is evidenced by the following promissory notes (as amended, modified or supplemented, the “Notes”), the
designations and original principal amounts set forth below, each dated as of January 22, 2020 and made by the Mortgage Loan Borrower
in favor of the applicable Initial Note Holder as set forth in the table:


	Note	Initial Note Holder	Original Principal Balance
	Note A-1	JPM	$1,000,000
	Note A-2	JPM	$43,000,000
	Note A-3	JPM	$40,000,000
	Note A-4	JPM	$23,900,000
	Note B	JPM	$132,100,000


 


WHEREAS, Initial Note
A-1 Holder and the Initial Note B Holder collectively intend (but are not bound) to sell, transfer and assign their respective
right, title and interest in and to all or a portion of Notes A-1 and B to a depositor who will in turn transfer such notes
to a trustee for the J.P. Morgan Chase Commercial Mortgage Securities Trust 2020-LOOP;


WHEREAS, each Initial
Note Holder desires to enter into this Agreement to memorialize the terms under which they, and their successors and assigns, shall
hold the Notes;




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NOW, THEREFORE, in
consideration of the mutual covenants herein contained, the parties hereto mutually agree as follows:


Section 1.               
Definitions. References to a “Section” or the “recitals” are, unless otherwise specified,
to a Section or the recitals of this Agreement. Capitalized terms not otherwise defined herein shall have the meaning ascribed
thereto in the Lead Securitization Servicing Agreement. Whenever used in this Agreement, the following terms shall have the respective
meanings set forth below unless the context clearly requires otherwise.


“A Notes”
shall mean each of Note A-1, Note A-2, Note A-3 and Note A-4.


“Administrative
Advance” shall have the meaning given thereto in the Lead Securitization Servicing Agreement.


“Advance”
shall mean any Administrative Advance, P&I Advance or Property Protection Advance.


“Affiliate”
shall have the meaning set forth in the Lead Securitization Servicing Agreement.


“Agent”
shall mean the Initial Agent or such Person to whom the Initial Agent shall delegate its duties hereunder, and after the Securitization
Date shall mean the Master Servicer.


“Agent Office”
shall mean the designated office of the Agent which office initially shall be the office of the Initial Note A-1 Holder listed
on Exhibit B hereto and after the Securitization Date, shall be the offices of the Master Servicer. The Agent Office is the
address to which notices to and correspondence with the Agent should be directed. The Agent may change the address of its designated
office by notice to the Note Holders.


“Agreement”
shall mean this Co-Lender Agreement, the exhibits and schedule hereto and all amendments hereof and supplements hereto.


“Approved
Servicer” shall have the meaning assigned to such term in the definition of “Qualified Institutional Lender”.


“Asset Review”
shall mean any review of representations and warranties conducted by the Non-Lead Asset Representations Reviewer, as contemplated
by Item 1101(m) of Regulation AB.


“B Note”
shall mean Note B.


“Bankruptcy
Code” shall mean the United States Bankruptcy Code, as amended from time to time, any successor statute or rule promulgated
thereto.


“Borrower
Affiliate” shall have the meaning set forth in the Lead Securitization Servicing Agreement; provided that in the
event that any Non-Lead Note is securitized in a Securitization, the term “Borrower Affiliate” as used in the definitions
of (or other provisions relating to any of) “Non-Controlling Note Holder”, “Non-Lead Note Holder” and “Non-




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Controlling Note Holder Representative”
shall refer to a “Borrower Affiliate” as defined in the related Non-Lead Securitization Servicing Agreement or such
other analogous term used in the related Non-Lead Securitization Servicing Agreement.


“Certificate
Administrator” shall mean Wells Fargo Bank, National Association or its successor-in-interest, or any successor “certificate
administrator” appointed as provided in the Lead Securitization Servicing Agreement.


“Certificates”
shall mean any securities issued in connection with the Lead Securitization or a Non-Lead Securitization.


“CLO”
shall have the meaning assigned to such term in the definition of “Qualified Institutional Lender”.


“CLO Asset
Manager” with respect to any Securitization Vehicle which is a CLO, shall mean the entity which is responsible for managing
or administering a Note as an underlying asset of such Securitization Vehicle or, if applicable, as an asset of any Intervening
Trust Vehicle (including, without limitation, the right to exercise any consent and control rights available to the holder of such
Note).


“Code”
shall mean the Internal Revenue Code of 1986, as amended.


“Collection
Account” shall have the meaning assigned to such term in the Lead Securitization Servicing Agreement.


“Companion
Loan Distribution Account” shall have the meaning assigned to such term in the Lead Securitization Servicing Agreement.


“Conduit”
shall have the meaning assigned to such term in Section 14(d).


“Conduit
Credit Enhancer” shall have the meaning assigned to such term in Section 14(d).


“Conduit
Inventory Loan” shall have the meaning assigned to such term in Section 14(d).


“Control”
shall mean the ownership, directly or indirectly, in the aggregate of more than fifty percent (50%) of the beneficial ownership
interests of an entity and the possession, directly or indirectly, of the power to direct or cause the direction of the management
or policies of an entity, whether through the ability to exercise voting power, by contract or otherwise (“Controlled”
and “Controls” have meanings correlative thereto).


“Control
Appraisal Period” A “Control Appraisal Period” shall exist with respect to the Mortgage Loan at any time
that (i) the second-most senior class of certificates in the Lead Securitization (i.e., the Class C Certificates) has
an outstanding principal balance (as notionally reduced by any appraisal reduction amounts allocable to such class) that is 25%
or less of the initial principal balance of that class of certificates, (ii) the “controlling class representative”
(or analogous term) or a majority of the “controlling class certificateholders” (or analogous term) (by




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principal balance) under the Securitization
is a Borrower Affiliate or (iii) a “control shift event” is deemed to occur under such Securitization.


“Controlling
Note Holder” shall mean as of any date of determination:


(a)   
the holder of the B Note unless a Control Appraisal Period is continuing; and


(b)  
for so long as a Control Appraisal Period is continuing, the holder of Note A-2;


provided that,
if the holder of the B Note would be the Controlling Note Holder pursuant to the terms hereof, but any interest in the B Note (or
the class of securities issued in the Lead Securitization designated as the “controlling class” or such other class(es)
otherwise assigned the rights to exercise the rights of the “Controlling Note Holder”) is held by the Mortgage Loan
Borrower or a Borrower Affiliate, or the Mortgage Loan Borrower or Borrower Affiliate would otherwise be entitled to exercise the
rights of the Controlling Note Holder, a Control Appraisal Period shall be deemed to have occurred. At any time the B Note is included
in the Lead Securitization, references to the “Controlling Note Holder” herein shall mean the holders of the majority
of the class of securities issued in the Lead Securitization designated as the “controlling class” or such other class(es)
otherwise assigned the rights to exercise the rights of the “Controlling Note Holder” hereunder or under the Lead Securitization
Servicing Agreement, as and to the extent provided in the Lead Securitization Servicing Agreement.


“DBRS Morningstar”
shall mean DBRS, Inc., and its successors-in-interest.


“Depositor”
shall mean J.P. Morgan Chase Commercial Mortgage Securities Corp., and its successors-in-interest.


“Directing
Certificateholder” shall mean the “Directing Certificateholder”, if any, as defined in the Lead Securitization
Servicing Agreement or such other analogous term used in the Lead Securitization Servicing Agreement.


“Event of
Default” shall mean, with respect to the Mortgage Loan, an “Event of Default” as defined in the Mortgage
Loan Agreement.


“Fitch”
shall mean Fitch Ratings, Inc., and its successors-in-interest.


“Indemnified
Party” shall have the meaning assigned to such term in Section 2(d).


“Initial
Agent” shall have the meaning assigned to such term in the preamble to this Agreement.


“Initial
Note A-1 Holder” shall have the meaning assigned to such term in the preamble to this Agreement.


“Initial
Note A-2 Holder” shall have the meaning assigned to such term in the preamble to this Agreement.


“Initial
Note A-3 Holder” shall have the meaning assigned to such term in the preamble to this Agreement.




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“Initial
Note A-4 Holder” shall have the meaning assigned to such term in the preamble to this Agreement.


“Initial
Note B Holder” shall have the meaning assigned to such term in the preamble to this Agreement.


“Initial
Note Holders” shall have the meaning assigned to such term in the preamble to this Agreement.


“Insolvency
Proceeding” shall mean any proceeding under Title 11 of the United States Code (11 U.S.C. Sec. 101 et seq.)
or any other insolvency, liquidation, reorganization or other similar proceeding concerning the Mortgage Loan Borrower, any
action for the dissolution of the Mortgage Loan Borrower, any proceeding (judicial or otherwise) concerning the application of
the assets of the Mortgage Loan Borrower for the benefit of its creditors, the appointment of or any proceeding seeking the appointment
of a trustee, receiver or other similar custodian for all or any substantial part of the assets of the Mortgage Loan Borrower or
any other action concerning the adjustment of the debts of the Mortgage Loan Borrower, the cessation of business by the Mortgage
Loan Borrower, except following a sale, transfer or other disposition of all or substantially all of the assets of the Mortgage
Loan Borrower in a transaction permitted under the Mortgage Loan Documents; provided, however, that (a) following
any such permitted transaction affecting the title to the Mortgaged Property, the Mortgage Loan Borrower for purposes of this Agreement
shall be defined to mean the successor owner of the Mortgaged Property from time to time as may be permitted pursuant to the Mortgage
Loan Documents and (b) for the purposes of this definition, if more than one entity comprises the Mortgage Loan Borrower,
the term “Mortgage Loan Borrower” shall refer to any such entity.


“Interest
Rate” shall mean the Interest Rate (as defined in the Mortgage Loan Documents).


“Intervening
Trust Vehicle” with respect to any Securitization Vehicle that is a CLO, shall mean a trust vehicle or entity which holds
any Note as collateral securing (in whole or in part) any obligation or security held by such Securitization Vehicle as collateral
for the CLO.


“JPM”
shall have the meaning assigned to such term in the preamble to this Agreement.


“KBRA”
shall mean Kroll Bond Rating Agency, Inc. and its successors-in-interest.


“Lead Securitization”
shall mean the Securitization of the Lead Securitization Notes in a Securitization Trust to be designated by the Initial Note B
Holder (in its capacity as Controlling Note Holder).


“Lead Securitization
Note Holder” shall mean the holder of the Lead Securitization Notes.


“Lead Securitization
Notes” shall mean Note A-1 and Note B for so long as any such note is included in the Lead Securitization.




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“Lead Securitization
Servicing Agreement” shall mean the trust and servicing agreement to be entered into in connection with the Securitization
of the Lead Securitization Notes and issuance of the J.P. Morgan Chase Commercial Mortgage Securities Trust 2020-LOOP, Commercial
Mortgage Pass Through Certificates, Series 2020-LOOP, between the Depositor, the Master Servicer, the Special Servicer, the Certificate
Administrator, the Trustee and the Operating Advisor.


“Lead Securitization
Trust” shall mean the Securitization Trust created in connection with the Lead Securitization.


“Major Decisions”
shall have the meaning given to such term in the Lead Securitization Servicing Agreement.


“Master Servicer”
shall mean KeyBank National Association or its successor-in-interest, or any successor “servicer” appointed as provided
in the Lead Securitization Servicing Agreement.


“Monthly
Payment Date” shall mean the “Payment Date” as defined in the Mortgage Loan Agreement.


“Moody’s”
shall mean Moody’s Investors Service, Inc., and its successors-in-interest.


“Morningstar”
shall mean Morningstar Credit Ratings, LLC, and its successors-in-interest.


“Mortgage”
shall have the meaning assigned to such term in the recitals.


“Mortgage
Loan” shall have the meaning assigned to such term in the recitals.


“Mortgage
Loan Agreement” shall mean the Loan Agreement, dated as of November 26, 2019, between the Mortgage Loan Borrower, as
borrower, and JPM, as lender, as the same may be further amended, restated, supplemented or otherwise modified from time to time,
subject to the terms hereof.


“Mortgage
Loan Borrower” shall have the meaning assigned to such term in the recitals.


“Mortgage
Loan Documents” shall mean, with respect to the Mortgage Loan, the Mortgage Loan Agreement, the Mortgage, the Notes and
all other documents now or hereafter evidencing and securing the Mortgage Loan.


“Mortgage
Loan Schedule” shall have the meaning assigned to such term in the recitals.


“Mortgaged
Property” shall have the meaning assigned to such term in the recitals.




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“Net Note
Rate” means, with respect to each Note, the applicable Note Rate minus the Servicing Fee Rate.


“Nonrecoverable
Advance” shall mean, (i) with respect to any Advances made by the Servicer or the Trustee under the Lead Securitization
Servicing Agreement, “Nonrecoverable Advance” as defined in the Lead Securitization Servicing Agreement, and (ii) with
respect to any P&I Advance made by a party to a Non-Lead Securitization Servicing Agreement, “Nonrecoverable Advance”
or any analogous term as defined in such Non-Lead Securitization Servicing Agreement.


“Non-Controlling
Note” means each Note other than the Controlling Note.


“Non-Controlling
Note Holder” means each Holder of a Non-Controlling Note; provided that with respect to each Non-Controlling Note,
at any time such Non-Controlling Note is included in a Securitization other than the Lead Securitization, references to the “Non-Controlling
Note Holder” herein shall mean the Non-Lead Securitization Subordinate Class Representative under the related Non-Lead Securitization
Servicing Agreement, as and to the extent provided in the related Non-Lead Securitization Servicing Agreement and as to the identity
of which the Lead Securitization Note Holder (and the Master Servicer and the Special Servicer) has been given written notice;
provided that if at any time 50% or more of any Non-Controlling Note is held by the Mortgage Loan Borrower or Borrower Affiliate,
no Note Holder or other Person shall be entitled to exercise any rights of the Non-Controlling Note Holder Representative. The
Lead Securitization Note Holder (or the Master Servicer or the Special Servicer acting on its behalf) shall not be required at
any time to deal with more than one party exercising the rights of a “Non-Controlling Note Holder” herein or under
the Lead Securitization Servicing Agreement and, (x) to the extent that the related Non-Lead Securitization Servicing Agreement
assigns such rights to more than one party or (y) to the extent a Non-Controlling Note is split into two or more New Notes pursuant
to Section 31, for purposes of this Agreement, the Non-Lead Securitization Servicing Agreement or the holders of such New Notes
shall designate one party to deal with the Lead Securitization Note Holder (or the Master Servicer or the Special Servicer acting
on its behalf) and provide written notice of such designation to the Lead Securitization Note Holder (and the Master Servicer and
the Special Servicer acting on its behalf); provided that, in the absence of such designation and notice, the Lead Securitization
Note Holder (or the Master Servicer or the Special Servicer acting on its behalf) shall be entitled to treat the last party as
to which it has received written notice as having been designated as the Non-Controlling Note Holder with respect to such Non-Controlling
Note for all purposes of this Agreement. As of the date hereof and until further notice from the Non-Lead Note Holder (or the Non-Lead
Master Servicer or another party acting on its behalf), the Note Holder of each Note (other than the B Note) is the Non-Controlling
Note Holder with respect to such Note.


 


“Non-Controlling
Note Holder Representative” shall have the meaning assigned to such term in Section 6(d).


“Non-Exempt
Person” shall mean any Person other than a Person who is either (i) a U.S. Person or (ii) has on file
with the Agent for the relevant year such duly-executed form(s) or statement(s) which may, from time to time, be prescribed by
law and which, pursuant to applicable provisions of (A) any income tax treaty between the United States and the country of
residence of




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such Person, (B) the Code or (C) any
applicable rules or regulations in effect under clauses (A) or (B) above, permit the Servicer on behalf of the Note Holders
to make such payments free of any obligation or liability for withholding.


“Non-Lead
Asset Representations Reviewer” shall mean the “asset representations reviewer” under any Non-Lead Securitization
Servicing Agreement.


“Non-Lead
Depositor” shall mean the “depositor” under any Non-Lead Securitization Servicing Agreement.


“Non-Lead
Master Servicer” shall mean a “master servicer” under any Non-Lead Securitization Servicing Agreement.


“Non-Lead
Note” shall mean Note A-2, Note A-3 and Note A-4.


“Non-Lead
Note Holder” shall mean each Note Holder of a Non-Lead Note.


“Non-Lead
Securitization” shall mean any Securitization of a Note in a Securitization Trust other than the Lead Securitization.


“Non-Lead
Securitization Date” shall mean the closing date of any Non-Lead Securitization.


“Non-Lead
Securitization Servicing Agreement” shall mean the servicing agreement for any Non-Lead Securitization.


“Non-Lead
Securitization Trust” shall mean the Securitization Trust into which any Non-Lead Note is deposited.


“Non-Lead
Servicer” shall mean any Non-Lead Master Servicer or Non-Lead Special Servicer, as the context may require.


“Non-Lead
Special Servicer” shall mean the “special servicer” under any Non-Lead Securitization Servicing Agreement.


“Non-Lead
Trustee” shall mean the “trustee” under any Non-Lead Securitization Servicing Agreement.


“Note(s)”
shall have the meaning assigned to such term in the recitals.


“Note A Holder”
shall mean with regards to any A Note, the related Initial Note Holder or any subsequent holder of such A Note, as applicable.


“Note B Holder”
shall mean the Initial Note B Holder or any subsequent holder of the B Note, as applicable.


“Note Holder”
shall mean with regards to any Note, the Initial Note Holder or any subsequent holder of such Note, as applicable.




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“Note Pledgee”
shall have the meaning assigned to such term in Section 14(c).


“Note Principal
Balance” shall mean, with respect to each Note, at any time of determination, the Principal Balance for such Note, as
set forth on the Mortgage Loan Schedule, less any payments of principal thereon (or any New Notes issued in substitution thereof)
received by the related Note Holder (or any holders of New Notes in substitution thereof) or reductions in such amount pursuant
to Section 3 or 4, as applicable.


“Note Rate”
shall mean the applicable Interest Rate with respect to each Note.


“Note Register”
shall have the meaning assigned to such term in Section 15.


“Operating
Advisor” shall mean Park Bridge Lender Services LLC, or its successor-in-interest, or any successor Operating Advisor
appointed as provided in the Lead Securitization Servicing Agreement.


“P&I
Advance” shall mean an advance made by (a) a party to the Lead Securitization Servicing Agreement in respect of
a delinquent monthly debt service payment on the Lead Securitization Notes or (b) a party to a Non-Lead Securitization Servicing
Agreement in respect of a delinquent monthly debt service payment on the related Non-Lead Note.


“Permitted
Fund Manager” shall mean any Person that on the date of determination is (i) one of the entities on Exhibit C
attached hereto or any other nationally-recognized manager of investment funds investing in debt or equity interests relating to
commercial real estate, (ii) investing through a fund with total assets of at least $3,000,000,000 and committed capital of
at least $1,500,000,000 and (iii) not subject to a proceeding relating to the bankruptcy, insolvency, reorganization or relief
of debtors.


“Pledge”
shall have the meaning assigned to such term in Section 14(c).


“Pro Rata
and Pari Passu Basis” shall mean with respect to the A Notes and the Note A Holders, the allocation of any particular
payment, collection, cost, expense, liability or other amount among such Notes or such Note Holders, as the case may be, without
any priority of any such A Note or any such Note Holder over another such A Note or Note Holder, as the case may be, and in any
event such that each A Note or Note Holder, as the case may be, is allocated its respective Pro Rata Share of such particular payment,
collection, cost, expense, liability or other amount.


“Pro Rata
Share” shall mean with respect to each A Note and the related Note A Holder, a fraction, expressed as a percentage, the
numerator of which is the Note Principal Balance of such A Note and the denominator of which is the sum of the Note Principal Balance
of all of the A Notes.


“Qualified
Institutional Lender” shall mean each of the Initial Note Holders (together with any affiliated transferee in connection
with a transfer to a Securitization or for internal bookkeeping or other corporate purposes) and any other U.S. Person that
is:




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(a)       an
entity Controlled (as defined below) by, under common Control with or that Controls any of the Initial Note Holders, or


(b)       the
trustee on behalf of the trust certificates issued pursuant to a master trust agreement involving a CLO comprised of, or other
securitization vehicle involving, assets deposited or transferred by a Note Holder and/or one or more Affiliates (whether with
assets from others or not), provided that the securities issued in connection with such CLO or other securitization vehicle
are rated initially at least investment grade by each of the Rating Agencies, that assigned a rating to one or more classes of
securities issued in connection with the Lead Securitization, or


(c)       one
or more of the following:


(i)       a
real estate investment bank, an insurance company, bank, savings and loan association, investment bank, trust company, commercial
credit corporation, pension plan, pension fund, pension fund advisory firm, mutual fund, real estate investment trust, governmental
entity or plan, or


(ii)       an
investment company, money management firm or a “qualified institutional buyer” within the meaning of Rule 144A
under the Securities Act of 1933, as amended, or an “accredited investor” within the meaning of Rule 501(a) (1),
(2), (3) or (7) of Regulation D under the Securities Act of 1933, as amended, or


(iii)       a
Qualified Trustee in connection with (a) a securitization of, (b) the creation of collateralized debt obligations (“CLO”)
secured by, or (c) a financing through an “owner trust” of, a Note or any interest therein (any of the foregoing,
a “Securitization Vehicle”), provided that (1) one or more classes of securities issued by such
Securitization Vehicle is initially rated at least investment grade by each of the Rating Agencies that assigned a rating to one
or more classes of securities issued in connection with a Securitization (it being understood that with respect to any Rating Agency
that assigned such a rating to the securities issued by such Securitization Vehicle, a Rating Agency Confirmation will not be required
in connection with a transfer of such Note or any interest therein to such Securitization Vehicle); (2) the special servicer
of such Securitization Vehicle has a Required Special Servicer Rating or is otherwise acceptable to the Rating Agencies rating
each Securitization (such entity, an “Approved Servicer”) and such Approved Servicer is required to service
and administer such Note or any interest therein in accordance with servicing arrangements for the assets held by the Securitization
Vehicle which require that such Approved Servicer act in accordance with a servicing standard notwithstanding any contrary direction
or instruction from any other Person; or (3) in the case of a Securitization Vehicle that is a CLO, the CLO Asset Manager
and, if applicable, each Intervening Trust Vehicle that is not administered and managed by a CLO Asset Manager which is a Qualified
Institutional Lender, are each a Qualified Institutional Lender under clauses (i), (ii), (iv) or (v) of this definition, or




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(iv)       an
investment fund, limited liability company, limited partnership or general partnership having capital and/or capital commitments
of at least $1,500,000,000, in which (A) any Initial Note Holder, (B) a person that is otherwise a Qualified Institutional
Lender under clause (i), (ii) or (v) (with respect to an institution substantially similar to the entities referred to
in clause (i) or (ii) above), or (C) a Permitted Fund Manager, acts as a general partner, managing member, or the
fund manager responsible for the day-to-day management and operation of such investment vehicle and provided that at least
50% of the equity interests in such investment vehicle are owned, directly or indirectly, by one or more entities that are otherwise
Qualified Institutional Lenders, or


(v)       an
institution substantially similar to any of the foregoing, and


in the case of any entity referred to
in clause (c)(i), (ii), (iii), (iv)(B) or (v) of this definition, (x) such entity has at least $1,500,000,000 in capital/statutory
surplus or shareholders’ equity (except with respect to a pension advisory firm, asset manager or similar fiduciary) and
at least $3,000,000,000 in total assets (in name or under management), and (y) is regularly engaged in the business of making
or owning commercial real estate loans (or interests therein) similar to the Mortgage Loan (or mezzanine loans with respect thereto)
or owning or operating commercial real estate properties; provided that, in the case of the entity described in clause (iv)(B)
above, the requirements of this clause (y) may be satisfied by a general partner, managing member, or the fund manager responsible
for the day-to-day management and operation of such entity; or


(d)       any
entity Controlled by any of the entities described in clause (c) above or approved by the Rating Agencies hereunder as a Qualified
Institutional Lender for purposes of this Agreement, or as to which the Rating Agencies have stated they would not review such
entity in connection with the subject transfer.


“Qualified
Trustee” means (i) a corporation, national bank, national banking association or a trust company, organized and
doing business under the laws of any state or the United States of America, authorized under such laws to exercise corporate trust
powers and to accept the trust conferred, having a combined capital and surplus of at least $50,000,000 and subject to supervision
or examination by federal or state authority, (ii) an institution insured by the Federal Deposit Insurance Corporation or
(iii) an institution whose long-term senior unsecured debt is rated either of the then in effect top two rating categories
of each of the applicable Rating Agencies.


“Rating Agencies”
shall mean DBRS Morningstar, Fitch, KBRA, Moody’s and S&P and their respective successors in interest or, if any of such
entities shall for any reason no longer perform the functions of a securities rating agency, any other nationally recognized statistical
rating agency reasonably designated by any Note Holder to rate the securities issued in connection with the Securitization of the
related Note; provided, however, that, at any time during which any Note is an asset of a Securitization, “Rating
Agencies” or “Rating Agency” shall mean only those rating agencies that are engaged from time to time
to rate the securities issued in connection with the Securitization(s) of such Notes.




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“Rating Agency
Confirmation” shall mean each of the applicable Rating Agencies shall have confirmed in writing that the occurrence of
the event with respect to which such Rating Agency Confirmation is sought shall not result in a downgrade, qualification or withdrawal
of the applicable rating or ratings ascribed by such Rating Agency to any of the Certificates then outstanding. In the event that
no Certificates are outstanding, any action that would otherwise require a Rating Agency Confirmation shall require the consent
of the holder of Note A-1, which consent shall not be unreasonably withheld, conditioned or delayed.


For the purposes of
this Agreement, if any Rating Agency (1) waives, declines or refuses, in writing, to review or otherwise engage any request
for a confirmation hereunder from such Rating Agency that a proposed action will not result in a qualification, downgrade or withdrawal
of its then current rating of the securities issued pursuant to the related Securitization, or (2) does not reply to such
request or responds in a manner that indicates that such Rating Agency is neither reviewing such request nor waiving the requirement
for Rating Agency Confirmation and the related timing, notice and other applicable provisions set forth in the Lead Securitization
Servicing Agreement and each Non-Lead Securitization Servicing Agreement, as applicable, have been satisfied, then for such request
only, the condition that such confirmation by such Rating Agency (only) be obtained will be deemed not to apply for purposes
of this Agreement. For purposes of clarity, any such waiver, declination or refusal to review or otherwise engage in any request
for such confirmation hereunder shall not be deemed a waiver, declination or refusal to review or otherwise engage in any subsequent
request for such Rating Agency Confirmation hereunder and the condition for such Rating Agency Confirmation pursuant to this Agreement
for any subsequent request shall apply regardless of any previous waiver, declination or refusal to review or otherwise engage
in such prior request.


“Realized
Losses” shall mean any reduction in the Mortgage Loan Principal Balance that does not result in an accompanying payment
of principal to any of the Note Holders, which may result from, but is not limited to, one of the following circumstances: (i) the
cancellation or forgiveness of any portion of the Mortgage Loan Principal Balance in connection with a bankruptcy or similar proceeding
or a modification or amendment of the Mortgage Loan granted by the Servicer pursuant to the terms of the Lead Securitization Servicing
Agreement, or (ii) a reduction in the Mortgage Loan Interest Rate or any Note Rate in connection with a bankruptcy or similar
proceeding involving the Mortgage Loan Borrower or a modification or amendment of the Mortgage Loan agreed to by the Servicer in
accordance with the terms of the Lead Securitization Servicing Agreement, that as a result of the application of Section 4,
results in the application of principal to pay interest to one or more Note Holders (each such Realized Loss described in this
clause (ii) shall be deemed to have been incurred on the Monthly Payment Date for each affected monthly payment).


“Redirection
Notice” shall have the meaning assigned to such term in Section 14(c).


“Regulation
AB” shall mean subpart 229.1100 – Asset Backed Securities (Regulation AB), 17 C.F.R. §§229.1100-229.1125,
as such may be amended from time to time, and subject to such clarification and interpretation as have been provided by the Securities
and Exchange Commission or by the staff of the Securities and Exchange Commission, or as may be provided by the Securities and
Exchange Commission or its staff from time to time.




    	13 



    	 



    

“REMIC”
shall have the meaning assigned to such term in Section 5(b).


“REMIC Provisions”
shall mean the provisions of the Code relating to REMICs, which appear at sections 860A through 860G of the Code, and related provisions,
and regulations, including proposed regulations and rulings, and administrative pronouncements promulgated thereunder, as the foregoing
may be in effect from time to time.


“Required
Special Servicer Rating” shall mean (i) in the case of Fitch, a rating of “CSS3”, (ii) in the case
of S&P, such special servicer is on S&P’s Select Servicer List as a U.S. Commercial Mortgage Special Servicer,
(iii) in the case of Moody’s, such special servicer was appointed to act as, and currently serves as, a special servicer
on a transaction-level basis on a CMBS transaction rated by Moody’s (as to which CMBS transaction there are outstanding CMBS
rated by Moody’s) and is not a special servicer that has been cited by Moody’s as having servicing concerns as the
sole or material factor in any qualification, downgrade or withdrawal of the ratings (or placement on “watch status”
in contemplation of a rating downgrade or withdrawal) of securities in a transaction serviced by the applicable servicer prior
to the time of determination, (iv)  in the case of KBRA, KBRA has not cited servicing concerns of such special servicer
as the sole or material factor in any qualification, downgrade or withdrawal of the ratings (or placement on “watch status”
in contemplation of a ratings downgrade or withdrawal) of securities in a transaction serviced by such special servicer prior to
the time of determination, and (v) in the case of DBRS Morningstar, within the twelve (12) month period prior to the
date of determination, such special servicer has acted as special servicer for one or more loans included in a commercial mortgage
loan securitization that was rated by DBRS Morningstar, and DBRS Morningstar has not downgraded or withdrawn the then-current rating
on any class of commercial mortgage securities or placed any class of commercial mortgage securities on watch citing the continuation
of such special servicer as special servicer of such commercial mortgage loans as a material reason for such downgrade or withdrawal
(or placement on “watch status” in contemplation of a ratings downgrade or withdrawal).


“Resizing
Note Holder” shall have the meaning assigned to such term in Section 31.


“S&P”
shall mean Standard & Poor’s Ratings Services, a Standard & Poor’s Financial Services LLC business, and its
successors-in-interest.


“Scheduled
Interest Payment” shall mean the scheduled payment of interest due on the Mortgage Loan on a Monthly Payment Date.


“Scheduled
Principal Payment” shall mean the scheduled payment of principal due on the Mortgage Loan on a Monthly Payment Date.


“SEC”
shall mean the U.S. Securities and Exchange Commission.


“Securitization”
shall mean one or more sales by a Note Holder of all or a portion of such Note to a depositor, who will in turn include such portion
of such Note as part of a securitization of one or more mortgage loans.


“Securitization
Date” shall mean the effective date on which the Securitization of the first Note or portion thereof is consummated.




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“Securitization
Trust” shall mean a trust formed pursuant to a Securitization pursuant to which any Notes are held.


“Securitization
Vehicle” shall have the meaning assigned to such term in the definition of “Qualified Institutional Lender”.


“Sequential
Order” shall mean (a) first, to the reduction of the Note Principal Balance of each of the A Notes and all
interest thereon, on a Pro Rata and Pari Passu Basis, until the Note Principal Balance of each such Note is reduced to zero and
(b) second, to the reduction of the Note Principal Balance of the B Note until the Note Principal Balance of such Note
is reduced to zero.


“Servicer”
shall mean (i) the Master Servicer if the Mortgage Loan is not a Specially Serviced Loan and (ii) the Special Servicer
if the Mortgage Loan is a Specially Serviced Loan, provided, that with respect to a specific function, right or obligation
as to which the Lead Securitization Servicing Agreement designates the Master Servicer of the Special Servicer, the party so designated
shall be the “Servicer”.


“Servicing
Advance” shall mean “Property Protection Advances” as defined in the Lead Securitization Servicing Agreement.


“Servicing
Standard” shall mean “Accepted Servicing Practices” as defined in the Lead Securitization Servicing Agreement.


“Servicing
Fee Rate” shall have the meaning assigned to such term in the Lead Securitization Servicing Agreement.


“Special
Servicer” shall mean Situs Holdings, LLC, or its successor-in-interest, or any successor “special servicer”
appointed as provided in the Lead Securitization Servicing Agreement and this Agreement.


“Special
Servicer Termination Event” shall have the meaning given to such term in the Lead Securitization Servicing Agreement.


“Specially
Serviced Mortgage Loan” shall mean “Specially Serviced Mortgage Loan” as defined in the Lead Securitization
Servicing Agreement.


“Taxes”
shall mean any income or other taxes, levies, imposts, duties, fees, assessments or other charges of whatever nature, now or hereafter
imposed by any jurisdiction or by any department, agency, state or other political subdivision thereof or therein.


“Transfer”
shall have the meaning assigned to such term in Section 14.


“Trust Fund
Expenses” shall have the meaning assigned to such term in the Lead Securitization Servicing Agreement.


“Trust Loan”
means the portion of the Mortgage Loan evidenced by the Lead Securitization Notes.




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“Trustee”
shall mean Wells Fargo Bank, National Association, or its successor-in-interest, or any successor “trustee” appointed
as provided in the Lead Securitization Servicing Agreement.


“U.S. Person”
shall mean a citizen or resident of the United States, a corporation or partnership (except to the extent provided in applicable
Treasury Regulations) created or organized in or under the laws of the United States, any State thereof or the District of Columbia,
including any entity treated as a corporation or partnership for federal income tax purposes, or an estate whose income is subject
to United States federal income tax regardless of its source, or a trust if a court within the United States is able to exercise
primary supervision over the administration of such trust, and one or more such U.S. Persons have the authority to control
all substantial decisions of such trust (or, to the extent provided in applicable Treasury Regulations, a trust in existence on
August 20, 1996 which is eligible to elect to be treated as a U.S. Person).


Section 2.               
Servicing of the Mortgage Loan.


(a)               
Each Note Holder acknowledges and agrees that, subject to the terms of this Agreement, the Mortgage Loan shall be serviced
from and after the Securitization Date pursuant to the Lead Securitization Servicing Agreement. Subject to the terms and conditions
of this Agreement, each Note Holder hereby irrevocably and unconditionally consents to the appointment of the Master Servicer,
the Special Servicer, the Certificate Administrator, the Trustee and the Operating Advisor under the Lead Securitization Servicing
Agreement by the Depositor as each such party may be replaced pursuant to the terms of the Lead Securitization Servicing Agreement
and agrees to reasonably cooperate with the Master Servicer and the Special Servicer with respect to the servicing of the Mortgage
Loan in accordance with the Lead Securitization Servicing Agreement. Each Note Holder hereby irrevocably appoints the Master Servicer,
the Special Servicer and the Trustee in the Lead Securitization as such Note Holder’s attorney-in-fact to sign any documents
reasonably required with respect to the administration and servicing of the Mortgage Loan on its behalf under the Lead Securitization
Servicing Agreement (subject at all times to the rights of such Note Holder set forth herein and in the Lead Securitization Servicing
Agreement). In no event shall the Lead Securitization Servicing Agreement require the Servicer to enforce the rights of any Note
Holder against any other Note Holder or limit the Servicer in enforcing the rights of one Note Holder against any other Note Holder;
however, this statement shall not be construed to otherwise limit the rights of one Note Holder with respect to any other Note
Holder. Each Servicer (i) shall be required pursuant to the Lead Securitization Servicing Agreement to service the Mortgage
Loan in accordance with the Servicing Standard (which shall require, among other things, that each Servicer, in servicing the Mortgage
Loan, must take into account the interests of each Note Holder and that the B Note is subordinate to the A Notes), the terms of
the Mortgage Loan Documents, this Agreement, the Lead Securitization Servicing Agreement and applicable law, (ii) shall provide
information to each Non-Lead Servicer to enable each such Non-Lead Servicer to perform its servicing duties under the related Non-Lead
Securitization Servicing Agreement and (iii) shall not take any action or refrain from taking any action or follow any direction
inconsistent with the foregoing.


(b)              
At any time that the Mortgage Loan is no longer subject to the provisions of the Lead Securitization Servicing Agreement,
the Note Holders agree to cause the Mortgage Loan to be serviced by one or more servicers, each of which has been agreed upon by
the Note




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Holders, pursuant to a servicing agreement
that has servicing terms substantially similar to the Lead Securitization Servicing Agreement (including, without limitation, all
applicable provisions relating to delivery of information and reports necessary for any Non-Lead Securitization to comply with
any applicable reporting requirements under the Securities Exchange Act of 1934, as amended) and all references herein to the “Lead
Securitization Servicing Agreement” shall mean such subsequent servicing agreement; provided, however, that
(1) if (x) the servicer(s) to be appointed under such replacement servicing agreement would not otherwise meet the conditions
to be a servicer under the Lead Servicing Agreement that is being replaced or (y) a Non-Lead Note is in a Securitization and
such replacement servicer would not otherwise meet the conditions to be a servicer under the related Non-Lead Securitization Servicing
Agreement, then a Rating Agency Confirmation shall have been obtained from each Rating Agency for each Securitization then outstanding
with respect to which Certificates thereof are then rated by such Rating Agency and (2) until a replacement servicing agreement
has been entered into, the Lead Securitization Note Holder shall cause the Mortgage Loan to be serviced pursuant to the provisions
of the Lead Securitization Servicing Agreement as if such agreement was still in full force and effect with respect to the Mortgage
Loan, by the Servicer in the Lead Securitization or by any Person appointed by the Lead Securitization Note Holder that is a qualified
servicer meeting the requirements of the Lead Securitization Servicing Agreement; except that the Servicer shall have no obligation
to make any P&I Advances or Administrative Advances on the Lead Securitization Notes.


(c)               
The Master Servicer shall be the master servicer on the Mortgage Loan, and from time to time it (or the Trustee, to the
extent provided in the Lead Securitization Servicing Agreement) (i) shall be required to make Servicing Advances and Administrative
Advances with respect to the Mortgage Loan, subject to the terms of the Lead Securitization Servicing Agreement and this Agreement,
and (ii) may be required to make P&I Advances on the Lead Securitization Notes, if and to the extent provided in the Lead
Securitization Servicing Agreement and this Agreement. The Master Servicer, the Special Servicer and the Trustee, as applicable,
shall be entitled to reimbursement for any Advance and interest thereon and Trust Fund Expenses in accordance with the terms of
the Lead Securitization Servicing Agreement and this Agreement.


(d)              
Each Non-Lead Note Holder agrees to indemnify (i) (as and to the same extent the Lead Securitization Trust is required
to indemnify each of the following parties in respect of the Mortgage Loan pursuant to the terms of the Lead Securitization Servicing
Agreement) each of the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Operating Advisor
and the Depositor (and any director, officer, employee or agent of any of the foregoing, to the extent such parties are identified
as indemnified parties in the Lead Securitization Servicing Agreement in respect of the Mortgage Loan) and (ii) the Lead Securitization
Trust (such parties in clause (i) and the Lead Securitization Trust, collectively, the “Indemnified Parties”)
against any claims, losses, penalties, fines, forfeitures, legal fees and related costs, judgments and any other costs, liabilities,
fees and expenses incurred in connection with the servicing and administration of the Mortgage Loan and the Mortgaged Property
(or, with respect to the Operating Advisor, incurred in connection with the provision of services for the Mortgage Loan) under
the Lead Securitization Servicing Agreement (collectively, the “Indemnified Items”) to the extent of its pro rata
share of such Indemnified Items.




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(e)               
Each Non-Lead Note Holder agrees to pay its Pro Rata Share of (i) any Servicing Advances or Administrative Advances
and any interest accrued and payable on such Advances at the Advance Rate and (ii) any Trust Fund Expenses and any other fees,
costs or expenses incurred in connection with the servicing and administration of the Mortgage Loan (including, without, limitation,
any costs, fees and expenses related to obtaining any Rating Agency Confirmation and any Indemnified Items) in accordance with
the Lead Securitization Servicing Agreement and this Agreement to the extent that such amounts remain unpaid or unreimbursed after
funds received from the Borrower for payment of such amounts and any principal and interest collections allocable to the B Note
has been applied to pay such amounts.


In the event that
the Master Servicer or the Special Servicer has determined that expected proceeds of the Mortgage Loan (or foreclosed property)
would be insufficient for reimbursement of (i) any Servicing Advances or Administrative Advances and any interest accrued
and payable on such Advances at the Advance Rate, (ii) the Indemnified Items and (iii) any other Trust Fund Expenses
and any other fees, costs or expenses incurred in connection with the servicing and administration of the Mortgage Loan (including,
without, limitation, any costs, fees and expenses related to obtaining any Rating Agency Confirmation), and any collections allocable
to the B Note has been applied to pay such amounts, each Non-Lead Note Holder shall be required to, promptly following notice from
the Master Servicer, pay the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Operating Advisor,
or the Lead Securitization Trust, as applicable, the related Non-Lead Note Holder’s Pro Rata Share of the insufficiency and
if such Non-Lead Note Holder is a Non-Lead Securitization Trust, then such Non-Lead Note Holder shall be required to use general
collections on the other mortgage loans in the related Non-Lead Securitization Trust to pay such Pro Rata Share.


For the avoidance
of doubt, no Non-Lead Holder shall be required to use general collections on the other mortgage loans in the related Non-Lead Securitization
Trust to reimburse any P&I Advances or any Nonrecoverable Advances that are P&I Advances on the Lead Securitization Notes
or any interest accrued and payable on such P&I Advances and Nonrecoverable Advances that are P&I Advances.


(f)               
The Non-Lead Master Servicer may be required to make P&I Advances on the related Non-Lead Note, from time to time, subject
to the terms of the related servicing agreement for the related Non-Lead Securitization Servicing Agreement. Each Non-Lead Master
Servicer, Non-Lead Special Servicer and Non-Lead Trustee, as applicable, shall be entitled to make their own recoverability determination
with respect to a P&I Advance to be made on the related Non-Lead Note based on the information that they have on hand and in
accordance with the related Non-Lead Securitization Servicing Agreement. Additionally, the Master Servicer, the Special Servicer
and the Trustee, as applicable, shall be entitled to make their own recoverability determination with respect to a P&I Advance
to be made on the Lead Securitization Note based on the information that they have on hand and in accordance with the Lead Securitization
Servicing Agreement. The Master Servicer and the Trustee, as applicable, and the related Non-Lead Master Servicer or the related
Non-Lead Trustee shall be required to notify the other of the amount of its P&I Advance within two business days of making
such advance. If the Master Servicer, the Special Servicer or the Trustee, as applicable (with respect to the Lead Securitization
Note) or a Non-Lead Master Servicer, a Non-Lead Special Servicer or a Non-Lead Trustee, as applicable (with respect to a Non-Lead
Note), determines that a proposed P&I Advance, if made, would be




    	18 



    	 



    

non-recoverable or an outstanding P&I
Advance is or would be non-recoverable, or if the Master Servicer, the Special Servicer or the Trustee, as applicable, subsequently
determines that a proposed Servicing Advance would be non-recoverable or an outstanding Servicing Advance is or would be non-recoverable,
then, if and to the extent such information is not already included in the Distribution Date Statement for the month in which such
P&I Advance is made, the Master Servicer or the Trustee (as provided in the Lead Securitization Servicing Agreement, in the
case of a determination of non-recoverability by the Master Servicer, the Special Servicer or the Trustee) or the related Non-Lead
Master Servicer or the related Non-Lead Trustee (as provided in the related Non-Lead Securitization Servicing Agreement, in the
case of a determination of non-recoverability by the related Non-Lead Master Servicer, the related Non-Lead Special Servicer or
the related Non-Lead Trustee) shall notify the Master Servicer and the Trustee, or the related Non-Lead Master Servicer and the
related Non-Lead Trustee, as the case may be, of the other Securitization within two business days of making such determination.


(g)              
Each Non-Lead Note Holder agrees that, if the related Non-Lead Note is included in a Securitization, it shall cause the
applicable Non-Lead Securitization Servicing Agreement to contain provisions to the effect that:


(i)                
any Servicing Advances (and advance interest thereon), Administrative Advances (and advance interest thereon) and any Trust
Fund Expenses (including Indemnified Items) relating to servicing and administration of the Mortgage Loan and the Mortgaged Property,
including without limitation, any unpaid Special Servicing Fees, Liquidation Fees and Workout Fees relating to the Mortgage Loan
will be paid in accordance with Sections 2 and 3 of this Agreement and the Lead Securitization Servicing Agreement;


(ii)              
in the event that the Master Servicer or the Special Servicer has determined that proceeds of the Mortgage Loan (or foreclosed
property) would be insufficient for reimbursement of the amounts described in clause (i) above and any collections allocable
to the B Note has been applied to pay such amounts, the related Non-Lead Master Servicer will be required to, promptly following
notice from the Master Servicer or the Special Servicer, pay the Master Servicer, the Special Servicer, the Certificate Administrator
or the Trustee or the Lead Securitization Trust, as applicable, such Non-Lead Securitization Trust’s Pro Rata Share of the
insufficiency out of general funds in the collection account (or equivalent account) established under the related Non-Lead Securitization
Servicing Agreement;


(iii)            
the Master Servicer, the Special Servicer, the Trustee and the Lead Securitization Trust shall be third party beneficiaries
of the foregoing provisions; and


(iv)            
solely with respect to the Non-Lead Securitization containing Note A-2, the related Non-Lead Certificate Administrator shall
provide written notice to Certificate Administrator of the occurrence or termination of any “Control Termination Event”
or “Consultation Termination Event” under such Non-Lead Securitization.




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(h)              
In the event that any filing is required to be made by the Depositor or any Non-Lead Depositor in order to comply with the
Depositor’s or such Non-Lead Depositor’s requirements under the Exchange Act, the related Non-Lead Note Holder (including
the related Non-Lead Depositor and related Non-Lead Trustee) or the Lead Securitization Note Holder (including the Depositor, the
Master Servicer, the Special Servicer, the Certificate Administrator and the Trustee), as applicable, shall use commercially reasonable
efforts to timely comply with any such filing, in each case, in accordance with the requirements of the Lead Securitization Servicing
Agreement or the related Non-Lead Securitization Servicing Agreement respectively.


(i)                
Each Non-Lead Note Holder shall give each of the parties to the Lead Securitization Servicing Agreement (that will not also
be a party to the related Non-Lead Securitization Servicing Agreement) notice of the Non-Lead Securitization in writing (which
may be by e-mail) prior to or promptly following the related Non-Lead Securitization Date. Such notice shall contain contact
information for each of the parties to the related Non-Lead Securitization Servicing Agreement. In addition, after the related
Non-Lead Securitization Date, the related Non-Lead Note Holder (or a certificate administrator designated to do so in the Non-Lead
Securitization Servicing Agreement) shall send a copy of the related Non-Lead Securitization Servicing Agreement to each of the
parties to the Lead Securitization Servicing Agreement.


(j)                
If a Non-Lead Note becomes the subject of an Asset Review pursuant to the related Non-Lead Securitization Servicing Agreement,
the Master Servicer, the Special Servicer and the Trustee and the Certificate Administrator shall reasonably cooperate with such
Non-Lead Asset Representations Reviewer in connection with such Asset Review by providing such Non-Lead Asset Representations Reviewer
with any documents reasonably requested by such Non-Lead Asset Representations Reviewer, but only to the extent that such documents
are in the possession of the Master Servicer, the Special Servicer, the Trustee or the Certificate Administrator as the case may
be, and are not in the possession of the Non-Lead Asset Representations Reviewer, Non-Lead Master Servicer, Non-Lead Special Servicer
or custodian under the related Non-Lead Securitization Servicing Agreement.


Section 3.               
Priority of Payments. The B Note and the right of the Note B Holder to receive payments of interest, principal and
other amounts with respect to the B Note shall at all times be junior, subject and subordinate to each A Note and the right of
the related holder to receive payments of interest, principal and other amounts with respect to such A Note, in each case as further
described below.


All amounts tendered
by the Mortgage Loan Borrower or otherwise available for payment on or with respect to or in connection with the Mortgage Loan
or the Mortgaged Property or amounts realized as proceeds thereof, whether received in the form of monthly payments, the Balloon
Payment, Liquidation Proceeds, proceeds under any guaranty, letter of credit or other collateral or instrument securing the Mortgage
Loan or Insurance Proceeds or Condemnation Proceeds (other than (1) proceeds, awards or settlements to be applied to the restoration
or repair of the Mortgaged Property or released to the Mortgage Loan Borrower in accordance with the terms of the Mortgage Loan
Documents, to the extent permitted by the REMIC Provisions, (2) all amounts for required reserves or escrows required by the
Mortgage Loan Documents (to the extent and in accordance with the terms of the Mortgage Loan Documents) to be held as reserves
or escrows, (3) all amounts received as reimbursements on account of recoveries in respect of




    	20 



    	 



    

Advances then due and payable or reimbursable
to the Servicer or the Non-Lead Master Servicer under the Lead Securitization Servicing Agreement, (4) all amounts that are
then due, payable or reimbursable to any Servicer, Certificate Administrator, Trustee or Operating Advisor with respect to the
Mortgage Loan pursuant to the Lead Securitization Servicing Agreement (including, without limitation, reimbursement of Servicing
Advances and Administrative Advances with respect to the Mortgage Loan and P&I Advances on the Lead Securitization Notes and
interest thereon) and (5) any amounts that are then due and payable or reimbursable to any Non-Lead Master Servicer (or Non-Lead
Trustee) in respect of any P&I Advances and interest thereon in respect of Non-Lead Note (pursuant to Non-Lead PSA) shall be
applied and distributed by the Servicer in the following order of priority without duplication (and payments shall be made at such
times as are set forth in the Lead Securitization Servicing Agreement):


(i)                
first, on a Pro Rata and Pari Passu Basis, to pay accrued and unpaid interest on the A Notes (other than default
interest) to each Note A Holder in an amount equal to the accrued and unpaid interest on the applicable Note Principal Balances
at the applicable Net Note Rate;


(ii)              
second, on a Pro Rata and Pari Passu Basis, to each Note A Holder in an amount equal to all principal payments (or
other amounts allocated to principal) received, if any, with respect to such Monthly Payment Date, until the respective Note Principal
Balances have been reduced to zero;


(iii)            
third, on a Pro Rata and Pari Passu Basis, to each Note A Holder, an amount equal to the aggregate of unreimbursed
Realized Losses previously allocated to such Note A Holder in accordance with the terms of Section 4 or Section 5(d),
plus interest thereon at the Net Note Rate for A Note compounded monthly from the date the related Realized Loss was allocated
to each A Note, such amount to be allocated to such Note A Holder, on a Pro Rata and Pari Passu Basis based on the amount of Realized
Losses previously allocated to each such Holder;


(iv)            
fourth, to pay accrued and unpaid interest on the B Note (other than default interest) to the Note B Holder in an
amount equal to the accrued and unpaid interest on the Note Principal Balance of the B Note at the applicable Net Note Rate;


(v)              
fifth, to the Note B Holder in an amount equal to all principal payments (or other amounts allocated to principal)
received, if any, with respect to such Monthly Payment Date, until the Note Principal Balance of the B Note has been reduced to
zero;


(vi)            
sixth, to the Note B Holder, an amount equal to the aggregate of unreimbursed Realized Losses previously allocated
to the Note B Holder in accordance with the terms of Section 4 or Section 5(d), plus interest thereon at the Net Note
Rate for the B Note compounded monthly from the date the related Realized Loss was allocated to the B Note;




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(vii)          
seventh, to pay any Yield Maintenance Default Premium then due and payable in respect of the A Notes, on a Pro Rata
and Pari Passu Basis, then the B Note;


(viii)        
eighth, to pay default interest and late payment charges then due and owing under the Mortgage Loan, all of which
will be applied in accordance with the Lead Securitization Servicing Agreement; and


(ix)            
ninth, if any excess amount is available to be distributed in respect of the Mortgage Loan, and not otherwise applied
in accordance with the foregoing clauses (i)-(viii), any remaining amount shall be paid pro rata to each Note
A Holder and the Note B Holder based on their initial principal balances.


Notwithstanding anything
to the contrary herein, to the extent required under the REMIC Provisions of the Code, payments or proceeds received with respect
to any partial release of the Mortgaged Property (including following a condemnation) from the lien of the applicable Mortgage
and Mortgage Loan Documents must be allocated to reduce the principal balance of the Mortgage Loan in the manner permitted by such
REMIC Provisions if, immediately following such release, the loan-to value ratio of the Mortgage Loan exceeds 125% (based solely
on real property and excluding any personal property and going concern value).


Section 4.               
Workout. Notwithstanding anything to the contrary contained herein, but subject to the terms and conditions of the
Lead Securitization Servicing Agreement, and the obligation to act in accordance with the Servicing Standard, if the Lead Securitization
Note Holder, or any Servicer, in connection with a workout or proposed workout of the Mortgage Loan, modifies the terms thereof
such that (i) the principal balance of the Mortgage Loan is decreased, (ii) the Note Rate is reduced, (iii) payments
of interest or principal on any Note are waived, reduced or deferred or (iv) any other adjustment is made to any of the payment
terms of the Mortgage Loan, such modification shall not alter, and any modification of the Mortgage Loan Documents shall be structured
to preserve the Sequential Order of payment of the Notes, and all payments to the Note A Holders pursuant to Section 3 shall
be made as though such workout did not occur, with the payment terms of each A Note remaining the same as they are on the date
hereof, and the full economic effect of all waivers, reductions or deferrals of amounts due on the Mortgage Loan attributable to
such workout shall be borne, first, by the Note B Holders (up to the Note Principal Balance of the B Note, together with
accrued interest thereon at the Note Rate and any other amounts due to the Note B Holder) and then, by the Note A Holders,
on a Pro Rata and Pari Passu Basis (up to their respective Note Principal Balances, together with accrued interest thereon at the
Note Rate and any other amounts due to each Note A Holder, as applicable).


Section 5.               
Administration of the Mortgage Loan.


(a)               
Subject to this Agreement (including but not limited to Section 5(b)) and the Lead Securitization Servicing Agreement,
and subject to the rights and consents, where required, of the Controlling Note Holder Representative, the Lead Securitization
Note Holder (or the Master Servicer, the Special Servicer or the Trustee acting on behalf of the Lead Securitization Note Holder)
shall have the sole and exclusive authority with respect to the administration of, and exercise of rights and remedies with respect
to, the Mortgage Loan, including, without limitation,




    	22 



    	 



    

the sole authority to modify or waive
any of the terms of the Mortgage Loan Documents or consent to any action or failure to act by the Mortgage Loan Borrower or any
other party to the Mortgage Loan Documents, call or waive any Event of Default, accelerate the Mortgage Loan or institute any foreclosure
action or other remedy, and no Non-Lead Note Holder shall have any voting, consent or other rights whatsoever except as explicitly
set forth herein with respect to the Lead Securitization Note Holder’s administration of, or exercise of its rights and remedies
with respect to, the Mortgage Loan. Subject to this Agreement and the Lead Securitization Servicing Agreement, each Non-Lead Note
Holder agrees that it shall have no right to, and hereby presently and irrevocably assigns and conveys to the Lead Securitization
Note Holder (or the Master Servicer, the Special Servicer or the Trustee acting on behalf of the Lead Securitization Note Holder)
the rights, if any, that such Note Holder has to, (i) call or cause the Lead Securitization Note Holder to call an Event of
Default under the Mortgage Loan, or (ii) exercise any remedies with respect to the Mortgage Loan or the Mortgage Loan Borrower,
including, without limitation, filing or causing the Lead Securitization Note Holder to file any bankruptcy petition against the
Mortgage Loan Borrower. The Lead Securitization Note Holder (or the Master Servicer, the Special Servicer or the Trustee acting
on behalf of the Lead Securitization Note Holder) shall not have any fiduciary duty to any Non-Lead Note Holder in connection with
the administration of the Mortgage Loan (but the foregoing shall not relieve the Lead Securitization Note Holder from the obligation
to make any disbursement of funds as set forth herein or its obligation to follow the Servicing Standard (in the case of the Master
Servicer or the Special Servicer) or any liability for failure to do so).


Upon the Mortgage
Loan becoming a Specially Serviced Mortgage Loan, each Non-Lead Note Holder hereby acknowledges the right and obligation of the
Lead Securitization Note Holder (or the Special Servicer acting on behalf of the Lead Securitization Note Holder) to sell the Non-Lead
Notes together with the Lead Securitization Notes as notes evidencing one whole loan in accordance with the terms of the Lead Securitization
Servicing Agreement. In connection with any such sale, the Special Servicer shall be required to sell each Non-Lead Note together
with the Lead Securitization Notes in the manner set forth in the Lead Securitization Servicing Agreement.


Notwithstanding the
foregoing, the Lead Securitization Note Holder (or the Special Servicer acting on its behalf) will not be permitted to sell the
Mortgage Loan if the Mortgage Loan becomes a Specially Serviced Mortgage Loan without the written consent of each Non-Lead Note
Holder (provided that such consent is not required from any Non-Lead Note Holder that is a Borrower Affiliate) unless the
Special Servicer has delivered to each Non-Lead Note Holder: (a) at least 15 business days prior written notice of any decision
to attempt to sell the Mortgage Loan; (b) at least 10 days prior to the proposed sale date, a copy of each bid package
(together with any material amendments to such bid packages) received by the Special Servicer in connection with any such proposed
sale; (c) at least 10 days prior to the proposed sale date, a copy of the most recent appraisal for the Mortgage Loan,
and any documents in the servicing file reasonably requested by such Non-Lead Note Holder that are material to the price of the
Mortgage Loan; and (d) until the sale is completed, and a reasonable period of time (but no less time than is afforded to
other offerors) prior to the proposed sale date, all information and other documents being provided to other offerors and all leases
or other documents that are approved by the Servicer or the Special Servicer in connection with the proposed sale; provided
that such Non-Lead Note Holder may waive any of the delivery or timing requirements described in this sentence. Subject




    	23 



    	 



    

to the terms of the Lead Securitization
Servicing Agreement, each Non-Lead Note Holder (or its representative) that is not a Borrower Affiliate shall be permitted to submit
an offer at any sale of the Mortgage Loan.


Each Non-Lead Note
Holder hereby appoints the Lead Securitization Note Holder as its agent, and grants to the Lead Securitization Note Holder an irrevocable
power of attorney coupled with an interest, and its proxy, for the purpose of soliciting and accepting offers for and consummating
the sale of the Non-Lead Notes. Each Non-Lead Note Holder further agrees that, upon the request of the Lead Securitization Note
Holder, each Non-Lead Note Holder shall execute and deliver to or at the direction of Lead Securitization Note Holder such powers
of attorney or other instruments as the Lead Securitization Note Holder may reasonably request to better assure and evidence the
foregoing appointment and grant, in each case promptly following request, and shall deliver the related original Non-Lead Note,
endorsed in blank, to or at the direction of the Lead Securitization Note Holder in connection with the consummation of any such
sale.


The authority of the
Lead Securitization Note Holder to sell the Non-Lead Notes, and the obligations of the Non-Lead Note Holders to execute and deliver
instruments or deliver the Non-Lead Note upon request of the Lead Securitization Note Holder, shall terminate and cease to be of
any further force or effect upon the date, if any, upon which the Lead Securitization is terminated in accordance with its terms.


(b)              
If any Note is included as an asset of a real estate mortgage investment conduit within the meaning of Section 860D(a)
of the Code (a “REMIC”), then, any provision of this Agreement to the contrary notwithstanding: (i) the
Mortgage Loan shall be administered such that the Notes shall qualify at all times as (or as interests in) a “qualified mortgage”
within the meaning of Section 860G(a)(3) of the Code, (ii) any real property (and related personal property) acquired
by or on behalf of the Note Holders pursuant to a foreclosure, exercise of a power of sale or delivery of a deed in lieu of foreclosure
of the Mortgage or lien on such property following a default on the Mortgage Loan shall be administered so that the interest of
each Note Holder therein shall at all times qualify as “foreclosure property” within the meaning of Section 860G(a)(8)
of the Code and (iii) no Servicer may modify, waive or amend any provision of the Mortgage Loan, consent to or withhold consent
from any action of the Mortgage Loan Borrower, or exercise or refrain from exercising any powers or rights which the Note Holders
may have under the Mortgage Loan Documents, if any such action would constitute a “significant modification” of the
Mortgage Loan, within the meaning of Section 1.860G-2(b) of the regulations of the United States Department of the Treasury,
more than three (3) months after the startup day of the REMIC which includes the Notes (or any portion thereof). Each Note
Holder agrees that the provisions of this paragraph shall be effected by compliance with any REMIC provisions in the Lead Securitization
Servicing Agreement relating to the administration of the Mortgage Loan.


Anything herein or
in the Lead Securitization Servicing Agreement to the contrary notwithstanding, if one of the Notes is included in a REMIC, such
other Note Holder shall not be required to reimburse such Note Holder or any other Person for payment of (i) any taxes imposed
on such REMIC, (ii) any costs or expenses relating to the administration of such REMIC or to any determination respecting
the amount, payment or avoidance of any tax under such REMIC or (iii) any advances for any of the foregoing or any interest
thereon or for deficits in other items of disbursement or income resulting from the use of funds for payment of any such taxes,
costs or




    	24 



    	 



    

expenses or advances, nor shall any
disbursement or payment otherwise distributable to the other Note Holders be reduced to offset or make-up any such payment or deficit.


(c)               
The Mortgage Loan shall be treated as a single loan for purposes of calculating the Appraisal Reduction amount. Appraisal
Reduction amounts with respect to the Mortgage Loan shall be allocated, first, to the B Note, up to its outstanding principal
balance, and then to the A Notes on a pro rata and pari passu basis (based on their relative outstanding
principal balances).


(d)              
Prior to calculating any amount of interest or principal due to the Note Holders under Section 3 hereof, the Servicer
shall reduce the Note B Principal Balance (not below zero) by any Realized Loss with respect to the Mortgage Loan, and after the
Note B Principal Balance has been reduced to zero, the Servicer shall reduce the Note A Principal Balance pro rata
(based on their respective outstanding Principal Balances) (in each case, not below zero) by any Realized Loss with respect to
the Mortgage Loan.


Section 6.               
Appointment of Controlling Note Holder Representative and Non-Controlling Note Holder Representative.


(a)               
The Controlling Note Holder shall have the right at any time to appoint a representative in connection with the exercise
of its rights and obligations with respect to the Mortgage Loan (the “Controlling Note Holder Representative”).
The Controlling Note Holder shall have the right in its sole discretion at any time and from time to time to remove and replace
the Controlling Note Holder Representative in accordance with the terms of the Lead Securitization Servicing Agreement. When exercising
its various rights under this Agreement, the Controlling Note Holder may, at its option, in each case, act through the Controlling
Note Holder Representative. The Controlling Note Holder Representative may be any Person (other than the Mortgage Loan Borrower,
its principal or any Affiliate of the Mortgage Loan Borrower), including, without limitation, the Controlling Note Holder, any
officer or employee of the Controlling Note Holder, any affiliate of the Controlling Note Holder or any other unrelated third party.
No such Controlling Note Holder Representative shall owe any fiduciary duty or other duty to any other Person (other than the Controlling
Note Holder). All actions that are permitted to be taken by the Controlling Note Holder under this Agreement may be taken by the
Controlling Note Holder Representative acting on behalf of the Controlling Note Holder. No Servicer, Operating Advisor, Trustee
or Certificate Administrator acting on behalf of the Lead Securitization Note Holder shall be required to recognize any Person
as a Controlling Note Holder Representative until the Controlling Note Holder has notified each Servicer, Operating Advisor, Trustee
and Certificate Administrator of such appointment and, if the Controlling Note Holder Representative is not the same Person as
the Controlling Note Holder, the Controlling Note Holder Representative provides each Servicer, Operating Advisor, Trustee and
Certificate Administrator with written confirmation of its acceptance of such appointment (and such parties will be entitled to
rely on such notice), an address and facsimile number for the delivery of notices and other correspondence and a list of officers
or employees of such Person with whom the parties to this Agreement may deal (including their names, titles, work addresses and
facsimile numbers). The Controlling Note Holder shall promptly deliver such information to each Servicer, Operating Advisor, Trustee
and Certificate Administrator.




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(b)              
Neither the Controlling Note Holder Representative nor the Controlling Note Holder will have any liability to the other
Note Holders or any other Person for any action taken, or for refraining from the taking of any action or the giving of any consent
or the failure to give any consent pursuant to this Agreement or the Lead Securitization Servicing Agreement, or errors in judgment,
absent any loss, liability or expense incurred by reason of its willful misfeasance, bad faith or gross negligence. The Note Holders
agree that the Controlling Note Holder Representative and the Controlling Note Holder (whether acting in place of the Controlling
Note Holder Representative when no Controlling Note Holder Representative shall have been appointed hereunder or otherwise exercising
any right, power or privilege granted to the Controlling Note Holder hereunder) may take or refrain from taking actions, or give
or refrain from giving consents, that favor the interests of one Note Holder over the other Note Holder, and that the Controlling
Note Holder Representative may have special relationships and interests that conflict with the interests of a Note Holder and,
absent willful misfeasance, bad faith or gross negligence on the part of the Controlling Note Holder Representative or the Controlling
Note Holder, as the case may be, agree to take no action against the Controlling Note Holder Representative, the Controlling Note
Holder or any of their respective officers, directors, employees, principals or agents as a result of such special relationships
or interests, and that neither the Controlling Note Holder Representative nor the Controlling Note Holder will be deemed to have
been grossly negligent or reckless, or to have acted in bad faith or engaged in willful misfeasance or to have recklessly disregarded
any exercise of its rights by reason of its having acted or refrained from acting, or having given any consent or having failed
to give any consent, solely in the interests of any Note Holder.


(c)               
The Controlling Note Holder shall be entitled to exercise the rights and powers granted to the Lead Securitization Note
Holder hereunder and the rights and powers granted to the Directing Certificateholder with respect to the Mortgage Loan. In addition,
the Controlling Note Holder shall be entitled to advise (1) the Special Servicer with respect to all Major Decisions related
to a Specially Serviced Mortgage Loan and (2) the Special Servicer with respect to all Major Decisions for which the Servicer
must obtain the consent or deemed consent of the Special Servicer, and, except as set forth below (i) the Master Servicer
shall not be permitted to implement any Major Decision unless it has obtained the prior consent of the Special Servicer and (ii) prior
to the occurrence and continuance of a Control Event (as defined in the Lead Securitization Servicing Agreement), the Special Servicer
shall not be permitted to consent to the Master Servicer’s implementing any Major Decision nor will the Special Servicer
itself be permitted to implement any Major Decision as to which the Controlling Note Holder has objected in writing within ten
(10) Business Days after receipt of the written analysis and such additional information requested by the Controlling Note
Holder as may be necessary in the reasonable judgment of the Controlling Note Holder in order to make a judgment with respect to
such Major Decision. The Controlling Note Holder may also direct the Special Servicer to take, or to refrain from taking, such
other actions with respect to the Mortgage Loan as the Controlling Note Holder may deem advisable.


If the Controlling
Note Holder fails to notify the Special Servicer of its approval or disapproval of any proposed Major Decision within ten (10) Business
Days after delivery to the Controlling Note Holder by the applicable Servicer of written notice of a proposed Major Decision, together
with any information requested by the Controlling Note Holder as may be necessary in the reasonable judgment of the Controlling
Note Holder in order to make a judgment, then upon




    	26 



    	 



    

the expiration of such ten (10) Business
Days such Major Decision shall be deemed to have been approved by the Controlling Note Holder.


In the event that
the Special Servicer or Master Servicer (in the event the Servicer is otherwise authorized by the Lead Securitization Servicing
Agreement to take such action), as applicable, determines that immediate action, with respect to the foregoing matters, or any
other matter requiring consent of the Controlling Note Holder, prior to the occurrence and continuance of a Control Event pursuant
to the Lead Securitization Agreement (or consultation with the Controlling Note Holder after the occurrence and during the continuance
of a Control Event, but prior to the occurrence of a Consultation Termination Event (as defined in the Lead Securitization Servicing
Agreement)), is necessary to protect the interests of the Note Holders (as a collective whole taking into account that the B Note
is junior to the A Notes) and the Special Servicer has made a reasonable effort to contact the Controlling Note Holder, the Master
Servicer or the Special Servicer, as the case may be, may take any such action without waiting for the Controlling Note Holder’s
response.


No objection contemplated
by the preceding paragraphs may require or cause the Master Servicer or the Special Servicer, as applicable, to violate any provision
of the Mortgage Loan Documents, applicable law, the Lead Securitization Servicing Agreement, this Agreement, the REMIC Provisions
of the Code or the Master Servicer or Special Servicer’s obligation to act in accordance with the Servicing Standard or materially
expand the scope of responsibilities of any of the Master Servicer or Special Servicer, as applicable.


The Controlling Note
Holder shall have no liability to the other Note Holders or any other party for any action taken, or for refraining from the taking
of any action or the giving of any consent or the failure to give any consent pursuant to this Agreement or the Lead Securitization
Servicing Agreement, or errors in judgment, absent any loss, liability or expense incurred by reason of its willful misfeasance,
bad faith or gross negligence. The Note Holders agree that the Controlling Note Holder may take or refrain from taking actions,
or give or refrain from giving consents, that favor the interests of one Note Holder over the other Note Holders, and that the
Controlling Note Holder may have special relationships and interests that conflict with the interests of another Note Holder and,
absent willful misconduct, bad faith or gross negligence on the part of the Controlling Note Holder, agree to take no action against
the Controlling Note Holder or any of its officers, directors, employees, principals or agents as a result of such special relationships
or interests, and that the Controlling Note Holder shall not be deemed to have been grossly negligent or reckless, or to have acted
in bad faith or engaged in willful misconduct or to have recklessly disregarded any exercise of its rights by reason of its having
acted or refrained from acting, or having given any consent or having failed to give any consent, solely in the interests of any
Note Holder.


(d)              
Each Non-Controlling Note Holder shall have the right at any time to appoint a representative in connection with the exercise
of its rights and obligations with respect to the Mortgage Loan (the “Non-Controlling Note Holder Representative”).
Each Non-Controlling Note Holder shall have the right in its sole discretion at any time and from time to time to remove and replace
the Non-Controlling Note Holder Representative in accordance with the terms of the Lead Securitization Servicing Agreement. When
exercising its various rights under Section 5 and elsewhere in this Agreement, each Non-Controlling Note Holder may, at its
option,




    	27 



    	 



    

in each case, act through the Non-Controlling
Note Holder Representative. The Non-Controlling Note Holder Representative may be any Person (other than a Borrower Affiliate),
including, without limitation, the related Non-Controlling Note Holder, any officer or employee of the related Non-Controlling
Note Holder, any affiliate of the related Non-Controlling Note Holder or any other unrelated third party. No such Non-Controlling
Note Holder Representative shall owe any fiduciary duty or other duty to any other Person (other than such Non-Controlling Note
Holder). All actions that are permitted to be taken by each Non-Controlling Note Holder under this Agreement may be taken by a
Non-Controlling Note Holder Representative acting on behalf of such Non-Controlling Note Holder.


(e)               
No Servicer, Trustee, Operating Advisor or Certificate Administrator acting on behalf of the Lead Securitization Note Holder
shall be required to recognize any Person as a Non-Controlling Note Holder Representative until the related Non-Controlling Note
Holder has notified each Servicer, Trustee, Operating Advisor and Certificate Administrator of such appointment and, if the Non-Controlling
Note Holder Representative is not the same Person as the related Non-Controlling Note Holder, the Non-Controlling Note Holder Representative
provides each Servicer, Trustee, Operating Advisor and Certificate Administrator with written confirmation of its acceptance of
such appointment (and such parties will be entitled to rely on such notice), an address and facsimile number for the delivery of
notices and other correspondence and a list of officers or employees of such Person with whom the parties to this Agreement may
deal (including their names, titles, work addresses and facsimile numbers). The related Non-Controlling Note Holder shall promptly
deliver such information to each Servicer, Operating Advisor, Trustee and Certificate Administrator.


(f)               
(1) the Lead Securitization Note Holder (or the Special Servicer acting on its behalf) shall be required to provide
to each Non-Controlling Note Holder or its related Non-Controlling Note Holder Representative (provided that the Lead Securitization
Note Holder does not have knowledge that such Non-Controlling Note Holder is a Borrower Affiliate) (i) notice, information
and reports with respect to any Major Decisions (similar to such notice, information and report it is required to deliver to the
Directing Certificateholder pursuant to the Lead Securitization Servicing Agreement) (for this purpose, without regard to whether
such items are actually required to be provided to the Directing Certificateholder under the Lead Securitization Servicing Agreement
due to the occurrence of a Control Event or a Consultation Termination Event) and (ii) a summary of any Asset Status Report
relating to the Mortgage Loan (at the same time as it is required to deliver to the Directing Certificateholder pursuant to the
Lead Securitization Servicing Agreement) (for this purpose, without regard to whether such Asset Status Report is actually required
to be provided to the Directing Certificateholder under the Lead Securitization Servicing Agreement due to the occurrence of a
Control Event or a Consultation Termination Event) and (2) the Lead Securitization Note Holder (or the Special Servicer acting
on its behalf) shall be required to consult with each Non-Controlling Note Holder (or its related Non-Controlling Note Holder Representative)
on a strictly non-binding basis with respect to any such Major Decision or the implementation of any recommended actions in such
summary of the Asset Status Report relating to the Mortgage Loan, and consider alternative actions recommended by the related Non-Controlling
Note Holder (or its related Non-Controlling Note Holder Representative); provided that after the expiration of a period
of ten (10) Business Days from the delivery to a Non-Controlling Note Holder (or its related Non-Controlling Note Holder Representative)
by the Lead Securitization Note Holder of written notice of a proposed action, together with copies of the




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notice, information and report required
to be provided to the Non-Controlling Note Holder, the Lead Securitization Note Holder (or the Special Servicer acting on its behalf)
shall no longer be obligated to consult with such Non-Controlling Note Holder (or its related Non-Controlling Note Holder Representative),
whether or not such Non-Controlling Note Holder (or its related Non-Controlling Note Holder Representative) has responded within
such ten (10) Business Day period unless the Lead Securitization Note Holder (or the Master Servicer or the Special Servicer
acting on its behalf) proposes a new course of action that is materially different from the action previously proposed, in which
case such ten (10) Business Day period shall be deemed to begin anew from the date of such proposal and delivery of all information
relating thereto). Notwithstanding the consultation rights of any Non-Controlling Note Holder (or its related Non-Controlling Note
Holder Representative) set forth in the immediately preceding sentence, the Lead Securitization Note Holder (or Special Servicer
acting on its behalf) may make any Major Decision or take any action set forth in the Asset Status Report before the expiration
of the aforementioned ten (10) Business Day period if the Lead Securitization Note Holder (or Special Servicer) determines
that immediate action with respect thereto is necessary to protect the interests of the Note Holders. In no event shall the Lead
Securitization Note Holder (or Servicer or Special Servicer, acting on its behalf) be obligated at any time to follow or take any
alternative actions recommended by any Non-Controlling Note Holder (or its related Non-Controlling Note Holder Representative).


(g)              
In addition to the consultation rights of a Non-Controlling Note Holder (or its related Non-Controlling Note Holder Representative)
provided in the immediately preceding paragraph, each Non-Controlling Note Holder shall have the right to attend annual meetings
(either telephonically or in person, in the discretion of the Servicer) with the Lead Securitization Note Holder (or the Master
Servicer or the Special Servicer acting on its behalf) at the offices of the Master Servicer or the Special Servicer, as applicable,
upon reasonable notice and at times reasonably acceptable to the Master Servicer or the Special Servicer, as applicable, in which
servicing issues related to the Mortgage Loan are discussed; provided that each Non-Controlling Note Holder, at the request
of the Master Servicer or the Special Servicer, as applicable, shall execute a confidentiality agreement in form and substance
satisfactory to it, the Master Servicer or the Special Servicer, as applicable, and the Lead Securitization Note Holder.


(h)              
Notwithstanding anything to the contrary stated herein, a Non-Lead Note Holder shall not be entitled to exercise the powers
described in Sections 6(f), 6(g) or 7 if it is a Borrower Affiliate.


Section 7.               
Appointment of Special Servicer. Subject to the terms of the Lead Securitization Servicing Agreement, the Controlling
Note Holder (or its Controlling Note Holder Representative) shall have the right at any time and from time to time, with or without
cause, to replace the Special Servicer then acting with respect to the Mortgage Loan and appoint a replacement Special Servicer
in lieu thereof. Any designation by the Controlling Note Holder (or its Controlling Note Holder Representative) of a Person to
serve as Special Servicer shall be made by delivering to the other Note Holder, the Servicer, the then existing Special Servicer
and other parties to the Lead Securitization Servicing Agreement a written notice stating such designation and satisfying the other
conditions to such replacement as set forth in the Lead Securitization Servicing Agreement and delivering a Rating Agency Confirmation
from each Rating Agency for each Securitization then outstanding with respect to which Certificates thereof are then rated by such
Rating Agency, provided, however, that Rating Agency Confirmation shall not be required




    	29 



    	 



    

from any Rating Agency rating a Securitization
if such replacement Special Servicer has the Required Special Servicer Rating from such Rating Agency. The Controlling Note Holder
shall be solely responsible for any expenses incurred in connection with any such replacement without cause. The Controlling Note
Holder shall notify the other parties hereto of its termination of the then currently serving Special Servicer and its appointment
of a replacement Special Servicer in accordance with this Section 7. If the Controlling Note Holder has not appointed a Special
Servicer with respect to the Mortgage Loan as of the consummation of the securitization under the Lead Securitization Servicing
Agreement, then the initial Special Servicer designated in the Lead Securitization Servicing Agreement shall serve as the initial
Special Servicer but this shall not limit the right of the Controlling Note Holder (or its Controlling Note Holder Representative)
to designate a replacement Special Servicer for the Mortgage Loan as aforesaid.


If a Special Servicer
Termination Event has occurred with respect to the Special Servicer that affects a Non-Lead Note Holder, such Non-Lead Note Holder
shall have the right to direct the Trustee (or at any time that the Mortgage Loan is no longer included in a Securitization Trust,
the Controlling Note Holder) to terminate the Special Servicer under the Lead Securitization Servicing Agreement (or at any time
that the Mortgage Loan is no longer subject to the provisions of the Lead Securitization Servicing Agreement, the successor servicing
agreement pursuant to which the Mortgage Loan is being serviced) pursuant to and in accordance with the terms of the Lead Securitization
Servicing Agreement (or at any time that the Mortgage Loan is no longer subject to the provisions of the Lead Securitization Servicing
Agreement, the successor servicing agreement pursuant to which the Mortgage Loan is being serviced). The Controlling Note Holder
and the Non-Lead Note Holders acknowledge and agree that any successor special servicer appointed to replace the Special Servicer
with respect to the Mortgage Loan that was terminated for cause at any Non-Lead Note Holder’s direction cannot at any time
be the person (or an Affiliate thereof) that was so terminated without the prior written consent of such Non-Lead Note Holder.
The applicable Non-Lead Note Holder shall be solely responsible for reimbursing the Trustee’s or the Controlling Note Holder’s,
as applicable, costs and expenses, if not paid within a reasonable time by the terminated special servicer and, in the case of
the Trustee, that would otherwise be reimbursed to the Trustee from amounts on deposit in the Collection Account or Companion Loan
Distribution Account.


Section 8.               
Payment Procedure.


(a)               
The Lead Securitization Note Holder, in accordance with the priorities set forth in Section 3 and subject to the terms
of the Lead Securitization Servicing Agreement, shall deposit or cause to be deposited all payments and collections on the Mortgage
Loan to the Collection Account and the portion of such payments and collections that are distributable to the Non-Lead Note Holders
shall be deposited into the Companion Loan Account pursuant to and in accordance with the Lead Securitization Servicing Agreement.
The Lead Securitization Note Holder (or the Master Servicer acting on its behalf) shall (i) deposit such amounts to the applicable
account within two (2) Business Days after receipt of properly identified funds by the Lead Securitization Note Holder (or
the Master Servicer acting on its behalf) from or on behalf of the Mortgage Loan Borrower and (ii) remit from the applicable
account (A) prior to the Securitization Date, within two Business Days of receipt of properly identified funds (unless otherwise
specified pursuant to an interim servicing agreement) and (B) on or after the Securitization Date, (1) with respect to
the Lead Securitization Notes, the remittance date under the Lead Securitization




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Servicing Agreement for the Lead Securitization
Notes and (2) with respect to each Non-Lead Note, (x) prior to the Non-Lead Securitization, the remittance date under
the Lead Securitization Servicing Agreement for the Lead Securitization Notes and (y) on or after the Non-Lead Securitization,
the earlier of the remittance date under the Lead Securitization Servicing Agreement and the business day immediately succeeding
the “determination date” set forth in the related Non-Lead Securitization Servicing Agreement for such Non-Lead Notes,
all payments received and allocable pursuant to this Agreement and the Lead Securitization Servicing Agreement with respect to
the Non-Lead Notes (net of amounts payable or reimbursable from such account) by wire transfer to accounts maintained by the applicable
Note Holder.


(b)              
If the Lead Securitization Note Holder determines, or a court of competent jurisdiction orders, at any time that any amount
received or collected in respect of any Note must, pursuant to any insolvency, bankruptcy, fraudulent conveyance, preference or
similar law, be returned to the Mortgage Loan Borrower or paid to the Lead Securitization Note Holder, a Non-Lead Note Holder or
any Servicer or paid to any other Person, then, notwithstanding any other provision of this Agreement, the Lead Securitization
Note Holder shall not be required to distribute any portion thereof to such Non-Lead Note Holders and such Non-Lead Note Holder
shall promptly on demand by the Lead Securitization Note Holder repay to the Lead Securitization Note Holder any portion thereof
that the Lead Securitization Note Holder shall have theretofore distributed to such Non-Lead Note Holder, together with interest
thereon at such rate, if any, as the Lead Securitization Note Holder shall have been required to pay to any Mortgage Loan Borrower,
Master Servicer, Special Servicer or such other Person with respect thereto.


(c)               
If, for any reason, the Lead Securitization Note Holder makes any payment to a Non-Lead Note Holder before the Lead Securitization
Note Holder has received the corresponding payment (it being understood that the Lead Securitization Note Holder is under no obligation
to do so), and the Lead Securitization Note Holder does not receive the corresponding payment within five (5) Business Days
of its payment to such Non-Lead Note Holder, such Non-Lead Note Holder shall, at the Lead Securitization Note Holder’s request,
promptly return that payment to the Lead Securitization Note Holder.


(d)              
Each Note Holder agrees that if at any time it receives from any source any payment on account of the Mortgage Loan in excess
of its distributable share thereof, it shall promptly remit such excess to the applicable Note Holder(s), subject to this Agreement
and the Lead Securitization Servicing Agreement. The Lead Securitization Note Holder shall have the right to offset any amounts
due hereunder from a Non-Lead Note Holder with respect to the Mortgage Loan against any future payments due to such Non-Lead Note
Holder under the Mortgage Loan. Such Non-Lead Note Holder’s obligations under this Section 8 constitute absolute, unconditional
and continuing obligations.


Section 9.               
Limitation on Liability of the Note Holders. Subject to the terms of the Lead Securitization Servicing Agreement
governing limitation on the liabilities of the Master Servicer, the Special Servicer, the Trustee, the Certificate Administrator
and the Operating Advisor each Note Holder shall have no liability to any other Note Holder with respect to its Note except with
respect to losses actually suffered due to the negligence, willful misconduct or breach of this Agreement on the part of such Note
Holder.




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The Note Holders acknowledge
that, subject to the obligation of the Lead Securitization Note Holder (including any Servicer and the Trustee) to comply with,
and except as otherwise required by, the Servicing Standard, the Lead Securitization Note Holder (including any Servicer and the
Trustee) may exercise, or omit to exercise, any rights that the Lead Securitization Note Holder may have under the Lead Securitization
Servicing Agreement in a manner that may be adverse to the interests of any Non-Lead Note Holder and that the Lead Securitization
Note Holder (including any Servicer and the Trustee) shall have no liability whatsoever to any Non-Lead Note Holder in connection
with the Lead Securitization Note Holder’s exercise of rights or any omission by the Lead Securitization Note Holder to exercise
such rights other than as described above. However, the Servicer must act in accordance with the Servicing Standard.


Section 10.           
Bankruptcy. Subject to Section 5(b), each Note Holder hereby agrees that only the Lead Securitization Note Holder
has the right to institute, file, commence, acquiesce, petition under Bankruptcy Code Section 303 or otherwise or join any
Person in any such petition or otherwise invoke or cause any other Person to invoke an Insolvency Proceeding with respect to or
against the Mortgage Loan Borrower or seek to appoint a receiver, liquidator, assignee, trustee, custodian, sequestrator or other
similar official with respect to the Mortgage Loan Borrower or all or any part of its property or assets or ordering the winding-up
or liquidation of the affairs of the Mortgage Loan Borrower. Each Note Holder further agrees that only the Lead Securitization
Note Holder, and not any of the Non-Lead Note Holders, can make any election, give any consent, commence any action or file any
motion, claim, obligation, notice or application or take any other action in any case by or against the Mortgage Loan Borrower
under the Bankruptcy Code or in any other Insolvency Proceeding. The Note Holders hereby appoint the Lead Securitization Note Holder
as their agent, and grant to the Lead Securitization Note Holder an irrevocable power of attorney coupled with an interest, and
their proxy, for the purpose of exercising any and all rights and taking any and all actions available to the Non-Lead Note Holders
in connection with any case by or against the Mortgage Loan Borrower under the Bankruptcy Code or in any other Insolvency Proceeding,
including, without limitation, the right to file and/or prosecute any claim, vote to accept or reject a plan, to make any election
under Section 1111(b) of the Bankruptcy Code with respect to the Mortgage Loan, and to file a motion to modify, lift or terminate
the automatic stay with respect to the Mortgage Loan. The Note Holders hereby agree that, upon the request of the Lead Securitization
Note Holder, each Non-Lead Note Holder shall execute, acknowledge and deliver to the Lead Securitization Note Holder all and every
such further deeds, conveyances and instruments as the Lead Securitization Note Holder may reasonably request for the better assuring
and evidencing of the foregoing appointment and grant. All actions taken by the Servicer in connection with any Insolvency Proceeding
are subject to and must be in accordance with the Servicing Standard.


Section 11.           
Representations of the Note Holders. Each Note Holder represents and warrants that the execution, delivery and performance
of this Agreement is within its corporate powers, has been duly authorized by all necessary corporate action, and does not contravene
such Note Holder’s charter or any law or contractual restriction binding upon such Note Holder, and that this Agreement is
the legal, valid and binding obligation of such Note Holder enforceable against such Note Holder in accordance with its terms,
except as such enforcement may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting
the enforcement of creditors’ rights generally, and by general principles of equity (regardless of whether such enforceability
is considered in a proceeding in equity or at law), and except that the




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enforcement of rights with respect to
indemnification and contribution obligations may be limited by applicable law. Each Note Holder represents and warrants that it
is duly organized, validly existing, in good standing and in possession of all licenses and authorizations necessary to carry on
its business. Each Note Holder represents and warrants that (a) this Agreement has been duly executed and delivered by such
Note Holder, (b) to such Note Holder’s actual knowledge, all consents, approvals, authorizations, orders or filings
of or with any court or governmental agency or body, if any, required for the execution, delivery and performance of this Agreement
by such Note Holder have been obtained or made and (c) to such Note Holder’s actual knowledge, there is no pending action,
suit or proceeding, arbitration or governmental investigation against such Note Holder, an adverse outcome of which would materially
and adversely affect its performance under this Agreement.


Section 12.           
No Creation of a Partnership or Exclusive Purchase Right. Nothing contained in this Agreement, and no action taken
pursuant hereto shall be deemed to constitute the relationship created hereby between the Note Holders as a partnership, association,
joint venture or other entity. No Note Holder shall have any obligation whatsoever to offer to any other Note Holder the opportunity
to purchase a participation interest in any future loans originated by such Note Holder or its Affiliates and if any Note Holder
chooses to offer to any other Note Holder the opportunity to purchase a participation interest in any future mortgage loans originated
by such Note Holder or its Affiliates, such offer shall be at such purchase price and interest rate as such Note Holder chooses,
in its sole and absolute discretion. No Note Holder shall have any obligation whatsoever to purchase from any other Note Holder
a participation interest in any future loans originated by such Note Holder or its Affiliates.


Section 13.           
Other Business Activities of the Note Holders. Each Note Holder acknowledges that the other Note Holders or their
Affiliates may make loans or otherwise extend credit to, and generally engage in any kind of business with, the Mortgage Loan Borrower
or any Affiliate thereof, any entity that is a holder of debt secured by direct or indirect ownership interests in the Mortgage
Loan Borrower or any entity that is a holder of a preferred equity interest in the Mortgage Loan Borrower, and receive payments
on such other loans or extensions of credit and otherwise act with respect thereto freely and without accountability in the same
manner as if this Agreement and the transactions contemplated hereby were not in effect.


Section 14.           
Sale of the Notes.


(a)               
Each Note Holder agrees that it will not sell, assign, transfer, pledge, syndicate, participate, hypothecate, contribute,
encumber or otherwise dispose (either (i) directly or (ii) indirectly through entering into a derivatives contract or
any other similar agreement, excluding a repo financing or a Pledge in accordance with Section 14(d)) of a Note (a “Transfer”)
except to a Qualified Institutional Lender. Promptly after any Transfer, the non-transferring Note Holders shall be provided with
(x) a representation from the transferee or the applicable Note Holder certifying that such transferee is a Qualified Institutional
Lender (except in the case of a Transfer to a Securitization (and the related pooling and servicing or similar agreement requires
the parties thereto to comply with this Agreement) or in accordance with the immediately following sentence) and (y) a copy
of the assignment and assumption agreement referred to in Section 15. If a Note Holder intends to Transfer its respective
Note, or any portion thereof, to an entity that is not a Qualified Institutional Lender, it must first obtain (x) prior to
a Securitization,




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the consent of each non-transferring
Note Holder, in which case such new Note Holder shall be deemed to be a Qualified Institutional Lender pursuant to this Agreement,
or (2) after a Securitization of such non-transferring Note Holder’s Note, Rating Agency Confirmation from each of the
applicable Rating Agencies for such Securitization Trust (after which, such new Note Holder shall be deemed to be a Qualified Institutional
Lender pursuant to this Agreement). Notwithstanding the foregoing, without the non-transferring Note Holder’s prior consent
(which will not be unreasonably withheld), and, if such non-transferring Note Holder’s Note is held in a Securitization Trust,
without Rating Agency Confirmation, no Note Holder shall Transfer all or any portion of its Note (or a participation interest in
such Note) to the Mortgage Loan Borrower or a Borrower Affiliate and any such Transfer shall be absolutely null and void ab initio
and shall vest no rights in the purported transferee. The transferring Note Holder agrees that it will pay the expenses of the
non-transferring Note Holder (including all expenses of the Master Servicer, the Special Servicer and the Trustee) and all expenses
relating to the confirmation from the Rating Agencies in connection with any such Transfer. Notwithstanding the foregoing, each
Note Holder shall have the right, without the need to obtain the consent of any other Note Holder, the Rating Agencies or any other
Person, to Transfer 49% or less (in the aggregate) of its Note or any beneficial interest in its Note whether or not the related
transferee is a Qualified Institutional Lender. None of the provisions of this Section 14(a) shall apply in the case of (1) a
sale of all of the Notes in accordance with the terms and conditions of the Lead Securitization Servicing Agreement or (2) a
transfer by the Special Servicer, in accordance with the terms and conditions of the Lead Securitization Servicing Agreement, of
the Mortgage Loan or the Mortgaged Property, upon the Mortgage Loan becoming a Specially Serviced Mortgage Loan, to a single member
limited liability or limited partnership, 100% of the equity interest in which is owned directly or indirectly, through one or
more single member limited liability companies or limited partnerships, by the Lead Securitization Trust.


(b)              
In the case of any Transfer of a participation interest in any of the Notes, (i) the respective Note Holders’
obligations under this Agreement shall remain unchanged, (ii) such Note Holders shall remain solely responsible for the performance
of such obligations, and (iii) the Lead Securitization Note Holder and any Persons acting on its behalf shall continue to
deal solely and directly with such Note Holder in connection with such Note Holder’s rights and obligations under this Agreement
and the Lead Securitization Servicing Agreement, and all amounts payable hereunder shall be determined as if such Note Holder had
not sold such participation interest.


(c)               
Any Note Holder may pledge (a “Pledge”) its Note to any entity (other than the Mortgage Loan Borrower
or any Borrower Affiliate) which has extended a credit facility to such Note Holder or has entered into a repurchase agreement
with such Note Holder that, in each case, is either a Qualified Institutional Lender or a financial institution whose long-term
unsecured debt is rated at least “A” (or the equivalent) or better by each Rating Agency or to an entity with respect
to which Rating Agency Confirmation has been obtained pursuant to this Section 14 (each a “Note Pledgee”),
on terms and conditions set forth in this Section 14(c), it being further agreed that a financing provided by a Note Pledgee
to a Note Holder or any Person which Controls such Note that is secured by its Note and is structured as a repurchase arrangement,
shall qualify as a “Pledge” hereunder and Rating Agency Confirmation shall not be required, provided that a
Note Pledgee which is not a Qualified Institutional Lender may not take title to the pledged Note without a Rating Agency Confirmation.
Upon written notice by the applicable Note Holder to any other




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Note Holder and any Servicer that a
Pledge has been effected (including the name and address of the applicable Note Pledgee), such other Note Holder agrees to acknowledge
receipt of such notice and thereafter agrees: (i) to give Note Pledgee written notice of any default by the pledging Note
Holder in respect of its obligations under this Agreement of which default such Note Holder has actual knowledge; (ii) to
allow such Note Pledgee a period of ten (10) days to cure a default by the pledging Note Holder in respect of its obligations
to any other Note Holder hereunder, but such Note Pledgee shall not be obligated to cure any such default; (iii) that no amendment,
modification, waiver or termination of this Agreement shall be effective against such Note Pledgee without the written consent
of such Note Pledgee, which consent shall not be unreasonably withheld, conditioned or delayed; (iv) that such other Note
Holder shall give to such Note Pledgee copies of any notice of default under this Agreement simultaneously with the giving of same
to the pledging Note Holder; (v) that such other Note Holder shall deliver to Note Pledgee such certificate(s) as Note Pledgee
shall reasonably request, provided that any such certificate(s) shall be in a form reasonably satisfactory to such other
Note Holder; and (vi) that, upon written notice (a “Redirection Notice”) to the other Note Holders and
any Servicer by such Note Pledgee that the pledging Note Holder is in default, beyond any applicable cure periods, under the pledging
Note Holder’s obligations to such Note Pledgee pursuant to the applicable credit agreement between the pledging Note Holder
and such Note Pledgee (which notice need not be joined in or confirmed by the pledging Note Holder), and until such Redirection
Notice is withdrawn or rescinded by such Note Pledgee, Note Pledgee shall be entitled to receive any payments that any Note Holder
or Servicer would otherwise be obligated to pay to the pledging Note Holder from time to time pursuant to this Agreement or the
Lead Securitization Servicing Agreement. Any pledging Note Holder hereby unconditionally and absolutely releases the other Note
Holders and each Servicer from any liability to the pledging Note Holder on account of such other Note Holder’s or Servicer’s
compliance with any Redirection Notice believed by any Servicer or such other Note Holder to have been delivered by a Note Pledgee.
A Note Pledgee shall be permitted to exercise fully its rights and remedies against the pledging Note Holder to such Note Pledgee
(and accept an assignment in lieu of foreclosure as to such collateral), in accordance with applicable law and this Agreement.
In such event, the Note Holders and any Servicer shall recognize such Note Pledgee (and any transferee other than the Mortgage
Loan Borrower or any Affiliate thereof that is also a Qualified Institutional Lender at any foreclosure or similar sale held by
such Note Pledgee or any transfer in lieu of foreclosure), and its successor and assigns, as the successor to the pledging Note
Holder’s rights, remedies and obligations under this Agreement, and any such Note Pledgee or Qualified Institutional Lender
shall assume in writing the obligations of the pledging Note Holder hereunder accruing from and after such Transfer (i.e.,
realization upon the collateral by such Note Pledgee) and agrees to be bound by the terms and provisions of this Agreement. The
rights of a Note Pledgee under this Section 14(c) shall remain effective as to any Note Holder (and any Servicer) unless and
until such Note Pledgee shall have notified any such Note Holder (and any Servicer, as applicable) in writing that its interest
in the pledged Note has terminated.


(d)              
Notwithstanding any provisions herein to the contrary, if a conduit (“Conduit”) which is not a Qualified
Institutional Lender provides financing to a Note Holder then such Note Holder shall have the right to grant a security interest
in its Note to such Conduit notwithstanding that such Conduit is not a Qualified Institutional Lender, if the following conditions
are satisfied:




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(i)                
The loan (the “Conduit Inventory Loan”) made by the Conduit to such Note Holder to finance the acquisition
and holding of its Note requires a third party (the “Conduit Credit Enhancer”) to provide credit enhancement;


(ii)              
The Conduit Credit Enhancer is a Qualified Institutional Lender;


(iii)            
Such Note Holder pledges its interest in its Note to the Conduit as collateral for the Conduit Inventory Loan;


(iv)            
The Conduit Credit Enhancer and the Conduit agree that, if such Note Holder defaults under the Conduit Inventory Loan, or
if the Conduit is unable to refinance its outstanding commercial paper even if there is no default by such Note Holder, the Conduit
Credit Enhancer will purchase the Conduit Inventory Loan from the Conduit, and the Conduit will assign the pledge of such Note
Holder’s Note to the Conduit Credit Enhancer; and


(v)              
Unless the Conduit is in fact then a Qualified Institutional Lender, the Conduit will not without obtaining a Rating Agency
Confirmation from each Rating Agency have any greater right to acquire the interests in the Note pledged by such Note Holder, by
foreclosure or otherwise, than would any other purchaser that is not a Qualified Institutional Lender at a foreclosure sale conducted
by a Note Pledgee.


Section 15.           
Registration of the Notes and Each Note Holder. The Agent shall keep or cause to be kept at the Agent Office books
(the “Note Register”) for the registration and transfer of the Notes. The Agent shall serve as the initial note
registrar and the Agent hereby accepts such appointment. The names and addresses of the holders of the Notes and the names and
addresses of any transferee of any Note of which the Agent has received notice, in the form of a copy of the assignment and assumption
agreement referred to in this Section 15, shall be registered in the Note Register. The Person in whose name a Note Holder
is so registered shall be deemed and treated as the sole owner and holder thereof for all purposes of this Agreement. Upon request
of a Note Holder, the Agent shall provide such party with the names and addresses of the other Note Holders. To the extent the
Trustee or another party is appointed as Agent hereunder, each Note Holder hereby designates such Person as its agent under this
Section 15 solely for purposes of maintaining the Note Register.


In connection with
any Transfer of a Note occurring hereafter (but excluding any Pledgee unless and until it realizes on its Pledge), a transferee
shall execute an assignment and assumption agreement (unless the transferee is a Securitization Trust or the Transfer is
to a transferee in connection with a transfer to a Securitization Trust and the related pooling and servicing agreement or trust
and servicing agreement requires the parties thereto to comply with this Agreement), whereby such transferee assumes all of the
obligations of the applicable Note Holder hereunder with respect to such Note thereafter accruing and agrees to be bound by the
terms of this Agreement, including the applicable restriction on Transfers set forth in Section 14, from and after the date
of such assignment. No transfer of a Note may be made unless it is registered on the Note Register, and the Agent shall not recognize
any attempted or purported transfer of any Note in violation of the provisions of Section 14 and this Section 15. Any
such




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purported transfer shall be absolutely
null and void ab initio and shall vest no rights in the purported transferee. Each Note Holder desiring to effect such transfer
shall, and does hereby agree to, indemnify the Agent and the other Note Holders against any liability that may result if the transfer
is not made in accordance with the provisions of this Agreement.


Section 16.           
Governing Law; Waiver of Jury Trial. THIS AGREEMENT AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED
TO THIS AGREEMENT, THE RELATIONSHIP OF THE PARTIES TO THIS AGREEMENT, AND/OR THE INTERPRETATION AND ENFORCEMENT OF THE RIGHTS AND
OBLIGATIONS OF THE PARTIES TO THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS AND DECISIONS
OF THE STATE OF NEW YORK, WITHOUT REGARD TO THE CHOICE OF LAW RULES THEREOF (OTHER THAN SECTION 5-1401 OF THE NEW YORK GENERAL
OBLIGATIONS LAW). EACH OF THE PARTIES HEREBY IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM
ARISING OUT OF OR RELATING TO THIS AGREEMENT.


Section 17.           
Submission To Jurisdiction; Waivers. Each party hereto hereby irrevocably and unconditionally:


(a)               
SUBMITS FOR ITSELF AND ITS PROPERTY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS AGREEMENT, OR FOR RECOGNITION AND
ENFORCEMENT OF ANY JUDGMENT IN RESPECT THEREOF, TO THE NON-EXCLUSIVE GENERAL JURISDICTION OF THE COURTS OF THE STATE OF NEW
YORK, THE FEDERAL COURTS OF THE UNITED STATES OF AMERICA FOR THE SOUTHERN DISTRICT OF NEW YORK, AND APPELLATE COURTS FROM ANY THEREOF;


(b)              
CONSENTS THAT ANY SUCH ACTION OR PROCEEDING MAY BE BROUGHT IN SUCH COURTS AND, TO THE EXTENT PERMITTED BY LAW, WAIVES ANY
OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO THE VENUE OF ANY SUCH ACTION OR PROCEEDING IN ANY SUCH COURT OR THAT SUCH ACTION
OR PROCEEDING WAS BROUGHT IN AN INCONVENIENT COURT AND AGREES NOT TO PLEAD OR CLAIM THE SAME;


(c)               
AGREES THAT SERVICE OF PROCESS IN ANY SUCH ACTION OR PROCEEDING MAY BE EFFECTED BY MAILING A COPY THEREOF BY REGISTERED
OR CERTIFIED MAIL (OR ANY SUBSTANTIALLY SIMILAR FORM OF MAIL), POSTAGE PREPAID, TO ITS ADDRESS SET FORTH HEREIN OR AT SUCH OTHER
ADDRESS OF WHICH A PARTY HEREIN SHALL HAVE BEEN NOTIFIED; AND


(d)              
AGREES THAT NOTHING HEREIN SHALL AFFECT THE RIGHT TO EFFECT SERVICE OF PROCESS IN ANY OTHER MANNER PERMITTED BY LAW OR SHALL
LIMIT THE RIGHT TO SUE IN ANY OTHER JURISDICTION.


Section 18.           
Modifications. This Agreement shall not be modified, cancelled or terminated except by an instrument in writing signed
by each Note Holder. Additionally, for as




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long as any Note is contained in a Securitization
Trust, the Note Holders shall not amend or modify this Agreement without first receiving a Rating Agency Confirmation from each
Rating Agency then rating any Certificates issued in a Securitization. However, no such confirmation from the Rating Agencies shall
be required in connection with a modification (i) to cure any ambiguity, to correct an error or supplement any provisions
herein that may be defective or inconsistent with any other provisions herein or with the Lead Securitization Servicing Agreement,
(ii) to make other provisions with respect to matters or questions arising under this Agreement, which shall not be inconsistent
with the provisions of this Agreement or (iii) entered into pursuant to Section 31 of this Agreement or (iv) if
and to the extent that it would be deemed given or not required pursuant to the definition of Rating Agency Confirmation in the
Lead Securitization Servicing Agreement and/or any Non-Lead Securitization Servicing Agreement, as applicable.


Section 19.           
Successors and Assigns; Third Party Beneficiaries. This Agreement shall inure to the benefit of and be binding upon
the parties hereto and their respective successors and assigns. Except as provided herein, including without limitation, with respect
to the Trustee, Certificate Administrator, Master Servicer, Special Servicer, Operating Advisor, Non-Lead Master Servicer, Non-Lead
Special Servicer, Non-Lead Trustee, none of the provisions of this Agreement shall be for the benefit of or enforceable by any
Person not a party hereto. Subject to Section 14 and Section 15, each Note Holder may assign or delegate its rights or
obligations under this Agreement. Upon any such assignment, the assignee shall be entitled to all rights and benefits of the applicable
Note Holder hereunder.


Section 20.           
Counterparts. This Agreement may be executed in any number of counterparts and all of such counterparts shall together
constitute one and the same instrument. Delivery of an executed counterpart of a signature page of this Agreement in Portable Document
Format (PDF) or by facsimile transmission shall be effective as delivery of a manually executed original counterpart of this Agreement.


Section 21.           
Captions. The titles and headings of the paragraphs of this Agreement have been inserted for convenience of reference
only and are not intended to summarize or otherwise describe the subject matter of the paragraphs and shall not be given any consideration
in the construction of this Agreement.


Section 22.           
Severability. Wherever possible, each provision of this Agreement shall be interpreted in such manner as to be effective
and valid under applicable law, but if any provision of this Agreement shall be prohibited by or invalid under applicable laws,
such provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such
provision or the remaining provisions of this Agreement.


Section 23.           
Entire Agreement. This Agreement constitutes the entire agreement between the parties hereto with respect to the
subject matter contained in this Agreement and supersedes all prior agreements, understandings and negotiations between the parties.


Section 24.           
Withholding Taxes. (a) If the Lead Securitization Note Holder or the Mortgage Loan Borrower is required by law
to deduct and withhold Taxes from interest, fees or other amounts payable to a Non-Lead Note Holder with respect to the Mortgage
Loan as a result of such Non-Lead Note Holder constituting a Non-Exempt Person, the Lead Securitization Note




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Holder, in its capacity as servicer,
shall be entitled to do so with respect to such Non-Lead Note Holder’s interest in such payment (all withheld amounts being
deemed paid to such Note Holder). The Lead Securitization Note Holder shall furnish such Non-Lead Note Holder with a statement
setting forth the amount of Taxes withheld, the applicable rate and other information which may reasonably be requested for purposes
of assisting such Note Holder to seek any allowable credits or deductions for the Taxes so withheld in each jurisdiction in which
such Note Holder is subject to tax.


(b)              
Each Non-Lead Note Holder agrees to indemnify the Lead Securitization Note Holder against and hold the Lead Securitization
Note Holder harmless from and against any Taxes, interest, penalties and attorneys’ fees and disbursements arising or resulting
from any failure of the Lead Securitization Note Holder to withhold Taxes from payment made to such Non-Lead Note Holder in reliance
upon any representation, certificate, statement, document or instrument made or provided by such Non-Lead Note Holder to the Lead
Securitization Note Holder in connection with the obligation of the Lead Securitization Note Holder to withhold Taxes from payments
made to such Non-Lead Note Holder. It is expressly understood and agreed that (i) the Lead Securitization Note Holder shall
be absolutely and unconditionally entitled to accept any such representation, certificate, statement, document or instrument as
being true and correct in all respects and to fully rely thereon without any obligation or responsibility to investigate or to
make any inquiries with respect to the accuracy, veracity, correctness or validity of the same and (ii) such Non-Lead Note
Holder, upon request of the Lead Securitization Note Holder and at its sole cost and expense, shall defend any claim or action
relating to the foregoing indemnification using counsel selected by the Lead Securitization Note Holder.


(c)               
Each Non-Lead Note Holder represents to the Lead Securitization Note Holder (for the benefit of the Mortgage Loan Borrower)
that it is not a Non-Exempt Person and that neither the Lead Securitization Note Holder nor the Mortgage Loan Borrower is obligated
under applicable law to withhold Taxes on sums paid to it with respect to the Mortgage Loan or otherwise pursuant to this Agreement.
Contemporaneously with the execution of this Agreement and from time to time as necessary during the term of this Agreement, each
Non-Lead Note Holder shall deliver to the Lead Securitization Note Holder or Servicer, as applicable, evidence satisfactory to
the Lead Securitization Note Holder substantiating that such Note Holder is not a Non-Exempt Person and that the Lead Securitization
Note Holder is not obligated under applicable law to withhold Taxes on sums paid to it with respect to the Mortgage Loan or otherwise
under this Agreement. Without limiting the effect of the foregoing, (i) if a Non-Lead Note Holder is created or organized
under the laws of the United States, any state thereof or the District of Columbia, it shall satisfy the requirements of the preceding
sentence by furnishing to the Lead Securitization Note Holder an Internal Revenue Service Form W-9 and (ii) if a
Non-Lead Note Holder is not created or organized under the laws of the United States, any state thereof or the District of Columbia,
and if the payment of interest or other amounts by the Mortgage Loan Borrower is treated for United States income tax purposes
as derived in whole or part from sources within the United States, such Note Holder shall satisfy the requirements of the preceding
sentence by furnishing to the Lead Securitization Note Holder Internal Revenue Service Form W-8ECI, Form W-8IMY
(with appropriate attachments) or Form W-8BEN, or successor forms, as may be required from time to time, duly executed
by such Note Holder, as evidence of such Note Holder’s exemption from the withholding of United States tax with respect thereto.
The Lead Securitization Note Holder shall not be obligated to make any payment hereunder with respect to a Non-Lead




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Note or otherwise until the related
Non-Lead Note Holder shall have furnished to the Lead Securitization Note Holder requested forms, certificates, statements or documents.


Section 25.           
Custody of Mortgage Loan Documents. The originals of all of the Mortgage Loan Documents (other than each Non-Lead
Note) (a) prior to the Lead Securitization will be held by the Initial Agent and (b) after the Lead Securitization, will
be held by the Lead Securitization Note Holder (in the name of the Trustee and held by a duly appointed custodian therefor in accordance
with the Lead Securitization Servicing Agreement), in each case, on behalf of the registered holders of the Notes.


Section 26.           
Cooperation in Securitization.


(a)               
Each Note Holder acknowledges that any Note Holder may elect, in its sole discretion, to include its Note in a Securitization.
In connection with a Securitization and subject to the terms of the preceding sentence, at the request of the Lead Securitization
Note Holder, each Non-Lead Note Holder shall use reasonable efforts, at the Lead Securitization Note Holder’s expense, to
satisfy, and to cooperate with the Lead Securitization Note Holder in attempting to cause the Mortgage Loan Borrower to satisfy,
the market standards to which the Lead Securitization Note Holder customarily adheres or which may be reasonably required in the
marketplace or by the Rating Agencies in connection with the Securitization, including, entering into (or consenting to, as applicable)
any modifications to this Agreement or the Mortgage Loan Documents and to cooperate with the Lead Securitization Note Holder in
attempting to cause the Mortgage Loan Borrower to execute such modifications to the Mortgage Loan Documents, in any such case,
as may be reasonably requested by the Rating Agencies to effect the Securitization; provided, however, that either
in connection with the Lead Securitization or otherwise at any time prior to the Lead Securitization, none of the Non-Lead Note
Holders shall be required to modify or amend this Agreement or any Mortgage Loan Documents (or consent to such modification, as
applicable) in connection therewith, if such modification or amendment would (i) change the interest allocable to, or the
amount of any payments due to or priority of such payments to, a Non-Lead Note Holder or (ii) materially increase a Non-Lead
Note Holders’ obligations or materially decrease any Non-Lead Note Holders’ rights, remedies or protections. In connection
with the Lead Securitization, each Non-Lead Note Holder agrees to provide for inclusion in any disclosure document relating to
the Lead Securitization such information concerning such Non-Lead Note Holder and the related Non-Lead Note as the Lead Securitization
Note Holder reasonably determines to be necessary or appropriate. Such Non-Lead Note Holder agrees that it shall, at the Lead Securitization
Note Holder’s expense, cooperate with the reasonable requests of each Rating Agency and Lead Securitization Note Holder in
connection with the Lead Securitization (including, without limitation, reasonably cooperating with the Lead Securitization Note
Holder (without any obligation to make additional representations and warranties) to enable the Lead Securitization Note Holder
to make all necessary certifications and deliver all necessary opinions (including customary securities law opinions) in connection
with the Mortgage Loan and the Lead Securitization), as well as in connection with all other matters and the preparation of any
offering documents thereof and to review and respond reasonably promptly with respect to any information relating to a Non-Lead
Note Holder and the related Non-Lead Note in any Securitization document. Each Non-Lead Note Holder acknowledges that the information
provided by it to the Lead Securitization Note Holder may be incorporated into the offering documents for the Lead Securitization.
The Lead Securitization Note Holder and each Rating Agency shall be entitled to




    	40 



    	 



    

rely on the information supplied by,
or on behalf of, each Non-Lead Note Holder. The Lead Securitization Note Holder will reasonably cooperate with each Non-Lead Note
Holder by providing all information reasonably requested that is in the Lead Securitization Note Holder’s possession in connection
with each Non-Lead Note Holders’ preparation of disclosure materials in connection with a Securitization.


(b)              
Upon request, the Lead Securitization Note Holder shall deliver to a Non-Lead Note Holder drafts of the preliminary and
final Lead Securitization offering memoranda, prospectus supplement, free writing prospectus and any other disclosure documents
and the Lead Securitization Servicing Agreement and provide reasonable opportunity to review and comment on such documents.


Section 27.           
Notices. All notices required hereunder shall be given by (i) telephone (confirmed promptly in writing) or shall
be in writing and personally delivered, (ii) sent by facsimile transmission (during business hours) if the sender on the same
day sends a confirming copy of such notice by reputable overnight delivery service (charges prepaid), (iii) reputable overnight
delivery service (charges prepaid) or (iv) certified United States mail, postage prepaid return receipt requested, and addressed
to the respective parties at their addresses set forth on Exhibit B hereto, or at such other address as any party shall hereafter
inform the other party by written notice given as aforesaid. All written notices so given shall be deemed effective upon receipt.


Section 28.           
Broker. Each Note Holder represents to each other that no broker was responsible for bringing about this transaction.


Section 29.           
Certain Matters Affecting the Agent.


(a)               
The Agent may request and/or rely upon and shall be protected in acting or refraining from acting upon any officer’s
certificate or assignment and assumption agreement delivered to the Agent pursuant to Section 14 and Section 15;


(b)              
The Agent may consult with counsel and any opinion of counsel shall be full and complete authorization and protection in
respect of any action taken or suffered or omitted by it hereunder in good faith and in accordance with such opinion of counsel;


(c)               
The Agent shall be under no obligation to institute, conduct or defend any litigation hereunder or in relation hereto at
the request, order or direction of any Note Holder pursuant to the provisions of this Agreement, unless it has received indemnity
reasonably satisfactory to it;


(d)              
None of the Agent or any of its directors, officers, employees, Affiliates, agents or “control” persons within
the meaning of the Act shall be personally liable for any action taken, suffered or omitted by it in good faith and reasonably
believed by the Agent to be authorized or within the discretion or rights or powers conferred upon it by this Agreement;


(e)               
The Agent shall not be bound to make any investigation into the facts or matters stated in any officer’s certificate
or assignment and assumption agreement delivered to the Agent pursuant to Section 15;




    	41 



    	 



    

(f)               
The Agent may execute any of the powers hereunder or perform any duties hereunder either directly or by or through agents
or attorneys but shall not be relieved of its obligations hereunder; and


(g)              
The Agent represents and warrants that it is a Qualified Institutional Lender.


Section 30.           
Termination and Resignation of Agent(a) (a) The Agent may be terminated at any time upon ten (10) days prior
written notice from the Lead Securitization Note Holder. If the Agent is terminated pursuant to this Section 30, all of its
rights and obligations under this Agreement shall be terminated, other than any rights or obligations that accrued prior to the
date of such termination.


(b)              
The Agent may resign at any time on ten (10) days’ prior notice, so long as a successor Agent, reasonably satisfactory
to the Note Holders (it being agreed that a Servicer, the Trustee or a Certificate Administrator in a Securitization is satisfactory
to the Note Holders), has agreed to be bound by this Agreement and perform the duties of the Agent hereunder. JPM, as Initial Agent,
may transfer its rights and obligations to a Servicer, the Trustee or the Certificate Administrator, as successor Agent, at any
time without the consent of any Note Holder. Notwithstanding the foregoing, Note Holders hereby agree that, simultaneously with
the closing of the Lead Securitization, the Master Servicer shall be deemed to have been automatically appointed as the successor
Agent under this Agreement in place of JPM without any further notice or other action. The termination or resignation of such Master
Servicer, as Master Servicer under the Lead Securitization Servicing Agreement, shall be deemed a termination or resignation of
such Master Servicer as Agent under this Agreement.


Section 31.           
Resizing. Notwithstanding any other provision of this Agreement, for so long as a Note Holder or an affiliate of
a Note Holder (the “Resizing Note Holder”) is the owner of a Non-Lead Note (the “Owned Note”)
and such Owned Note is not included in a Securitization, such Resizing Note Holder shall have the right, subject to the terms of
the Mortgage Loan Documents, to cause the Mortgage Loan Borrower to execute amended and restated notes or additional notes (in
either case, “New Notes”) reallocating the principal of the Owned Note to such New Notes; or severing the Owned
Note into one or more further “component” notes in the aggregate principal amount equal to the then outstanding principal
balance of the Owned Note provided that (i) the aggregate principal balance of all outstanding New Notes following
such amendments is no greater than the aggregate principal of the Owned Note prior to such amendments, (ii) all Notes continue
to have the same weighted average interest rate as the Notes prior to such amendments, (iii) all Notes pay pro rata
and on a pari passu basis (to the extent described in the Mortgage Loan Agreement) and such reallocated or component
notes shall be automatically subject to the terms of this Agreement, (iv) the Resizing Note Holder holding the New Notes shall
notify the Lead Securitization Note Holder, the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee
and the Operating Advisor in writing (which may be by e-mail) of such modified allocations and principal amounts, and (v) the
execution of such amendments and New Notes does not violate the Servicing Standard. Except for the foregoing reallocation and for
modifications pursuant to the Lead Securitization Servicing Agreement (as discussed in Section 5), no Note may be modified
or amended without the consent of its holder and the consent of the holders of the other Notes. In connection with the foregoing
(provided the conditions set forth in (i) through (v) above are satisfied), (1) the Master Servicer is




    	42 



    	 



    

hereby authorized and directed to execute
amendments to the Mortgage Loan Documents and this Agreement (or to amend and restate any Mortgage Loan Document or this Agreement)
on behalf of any or all of the Note Holders, as applicable, solely for the purpose of reflecting such reallocation of principal
or severing of a Note (provided that such “component” notes shall each have their same rights as the respective
original Note) and (2) if more than one New Note is created hereunder, for purposes of exercising the rights of a Non-Lead
Note Holder hereunder, the definition of the term “Securitization” and all of the related defined terms may be amended
(and new terms added, as necessary) to reflect the New Notes.


[SIGNATURE PAGE FOLLOWS]


 




    	43 



    	 



    

IN WITNESS WHEREOF,
the Initial Note Holders have caused this Agreement to be duly executed as of the day and year first above written.


	 	Initial Note A-1 Holder
	 	 
	 	JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, a national banking association
	 	 
	 	By: 	/s/ Harris Rendelstein
	 	 	Name: Harris Rendelstein
Title:    Vice President



 


	 	Initial Note A-2 Holder
	 	 
	 	JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, a national banking association
	 	 
	 	By: 	/s/ Harris Rendelstein
	 	 	Name: Harris Rendelstein
Title:    Vice President



 


 


	 	Initial Note A-3 Holder
	 	 
	 	JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, a national banking association
	 	 
	 	By: 	/s/ Harris Rendelstein
	 	 	Name: Harris Rendelstein
Title:    Vice President






		Initial Note A-4 Holder
	 	 
	 	JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, a national banking association
	 	 
	 	By: 	/s/ Harris Rendelstein
	 	 	Name: Harris Rendelstein
Title:    Vice President






	 	Initial Note  B Holder
	 	 
	 	JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, a national banking association
	 	 
	 	By: 	/s/ Harris Rendelstein
	 	 	Name: Harris Rendelstein
Title:    Vice President



 


 




    	JPMCC 2020-LOOP: 181 WEST MADISON CO-LENDER AGREEMENT
	 

 

    	 



    

EXHIBIT A


MORTGAGE LOAN SCHEDULE


Description of Mortgage Loan


	Mortgage Loan Borrower:	181 West Madison Property LLC
	Date of Mortgage Loan:	November 27, 2019
	Date of Notes:	January 22, 2020
	Original Principal Amount of Mortgage Loan:	$240,000,000
	Principal Amount of Mortgage Loan as of the date hereof:	$240,000,000
	Initial Note A-1 Principal Balance:	$1,000,000
	Initial Note A-2 Principal Balance:	$43,000,000
	Initial Note A-3 Principal Balance:	$40,000,000
	Initial Note A-4 Principal Balance:	$23,900,000
	Initial Note B Principal Balance:	$132,100,000
	Location of Mortgaged Property:	181 West Madison Street, Chicago, Illinois
	Scheduled Maturity Date:	December 1, 2026


 


 




    	A-1



    	 



    

EXHIBIT B


1.       Initial
Note A-2 Holder, Initial Note A-3 Holder and Initial Note A-4 Holder:


JPMorgan Chase Bank, National Association



Notice Address:

JPMorgan Chase Bank, National Association

383 Madison Avenue, 8th Floor

New York, New York 10179

Attention: Kunal K. Singh

Email:  US_CMBS_Notice@jpmorgan.com


with a copy to:


 


JPMorgan Chase Bank, National Association

4 New York Plaza, Floor 21

New York, NY 10004-2413

Attention: SPG Legal

Email: US_CMBS_Notice@jpmorgan.com


2.       Initial
Note A-1 Holder and Initial Note B Holder:


(Prior to Securitization of Note A-1
and Note B)


JPMorgan Chase Bank, National Association



Notice Address:

JPMorgan Chase Bank, National Association

383 Madison Avenue, 8th Floor

New York, New York 10179

Attention: Kunal K. Singh

Email:  US_CMBS_Notice@jpmorgan.com


with a copy to:


 


JPMorgan Chase Bank, National Association

4 New York Plaza, Floor 21

New York, NY 10004-2413

Attention: SPG Legal

Email: US_CMBS_Notice@jpmorgan.com


(Following Securitization of Note A-1
and Note B)




    	B-1 



    	 



    

(Following Securitization of the Lead
Securitization Notes):


(i)       Depositor:


J.P. Morgan Chase Commercial Mortgage Securities Corp.

383 Madison Avenue, 8th Floor

New York, New York 10179

Attention: Kunal K. Singh

E-mail: US_CMBS_Notice@jpmorgan.com


with a copy to:



J.P. Morgan Chase Commercial Mortgage Securities Corp.

4 New York Plaza


Floor 21

New York, NY 10004-2413

Attention: SPG Legal

E-mail: US_CMBS_Notice@jpmorgan.com


(ii)       Master
Servicer:


KeyBank National Association

11501 Outlook Street, Suite 300

Overland Park, Kansas 66211

Attention: Michael Tilden

Email: michael_a_tilden @keybank.com


with a copy to:



Polsinelli

900 West 48th Place, Suite 900

Kansas City, Missouri 64112

Attention: Kraig Kohring

Email: kkohring@polsinelli.com


(iii)       Special
Servicer:


Situs Holdings, LLC

101 Montgomery Street, Suite 2250

San Francisco, California 94104

Attention: Stacey Ciarlanti

E-mail: stacey.ciarlanti@situs.com


with a copy to:


 




    	B-2 



    	 



    

Situs Group, LLC

5065 Westheimer, Suite 700E

Houston, Texas 77056

Attention: Legal Department

E-mail: legal@situs.com


(iv)       Certificate
Administrator or the Trustee:


Wells Fargo Bank, National Association

9062 Old Annapolis Road

Columbia, Maryland 21045

Attention: Corporate Trust Services (CMBS) - JPMCC 2020-LOOP

Telephone: (410) 884-2000


with a copy to:


Facsimile: (410 715-2380

Email: trustadministration@wellsfargo.com and

cts.cmbs.bond.admin@wellsfargo.com


(vi)       Operating
Advisor:


Park Bridge Lender Services LLC

600 Third Avenue, 40th Floor

New York, New York 10016

Attention: JPMCC 2020-LOOP – Surveillance Manager


with a copy to:



cmbs.notices@parkbridgefinancial.com


 




    	B-3



    	 



    

EXHIBIT C


1.       Angelo
Gordon


2.       Annaly
Capital Management


3.       Apollo
Global Management


4.       Ares
Management, L.P.


5.       Athene
Asset Management, L.P.


6.       Axonic
Capital LLC


7.       BlackRock,
Inc.


8.       The
Blackstone Group LP


9.       Brookfield
Asset Management Inc.


10.       Clarion
Partners


11.       Colony
Northstar, Inc.


12.       Fortress
Investment Group LLC


13.       Garrison
Investment Group


14.       Goldman,
Sachs & Co.


15.       H/2
Capital Partners


16.       iStar
Financial Inc.


17.       JPMorgan
Asset Management


18.       KKR
Real Estate Manager Finance LLC / KKR Real Estate Finance Holdings L.P. / Kohlberg Kravis Roberts & Co. L.P.


19.       LoanCore
Capital LLC


20.       Lone
Star Funds


21.       Loomis
Sayles & Company LP


22.       Metropolitan
Life Insurance Company / MetLife Real Estate Investments


23.       Oaktree
Capital Group LLC


24.       Och
– Ziff Capital Management Group LLC


25.       One
William Street Capital Management, L.P.


26.       Oxford
Properties Group


27.       Praedium
Group


28.       Principal
Life Insurance Company


29.       Prudential
Real Estate Investors / Prudential Investment Management


30.       Rialto
Capital Advisors, LLC


31.       Rialto
Capital Management, LLC


32.       Rockwood
Capital


33.       Shelter
Growth Capital Partners LLC


34.       Starwood
Capital Group/Starwood Property Trust


35.       Square
Mile Capital Management LLC


36.       Torchlight
Investors


37.       Walton
Street Capital, LLC


38.       Waterfall
Asset Management LLC


39.       Westbrook
Partners


40.       Western
Asset Management Company


41.       WestRiver
Capital



    	C-1