Document:

Exhibit 4.7

 

EXECUTION
VERSION

 

 

 

CO-LENDER
AGREEMENT

 

Dated
as of October 14, 2021

 

by
and between

 

DBR
INVESTMENTS CO. LIMITED

(an Initial Note A Holder),

 

BANK
OF AMERICA, N.A.

(an Initial Note A Holder),

 

JPMORGAN
CHASE BANK, NATIONAL ASSOCIATION

(an Initial Note A Holder),

 

3650
CAL BRIDGE LENDING, LLC

(an Initial Note A Holder),

 

DBR
INVESTMENTS CO. LIMITED

(Initial Note B-1 Holder),

 

BANK
OF AMERICA, N.A.

(Initial Note B-2 Holder),

 

JPMORGAN
CHASE BANK, NATIONAL ASSOCIATION

(Initial Note B-3 Holder),

 

and

 

3650
CAL BRIDGE LENDING, LLC

(Initial Note B-4 Holder),

 

 

 

Commercial
Mortgage Loan in the Principal Amount of $1,225,000,000

Secured by life sciences office buildings located at

350 and 450 Water Street, Cambridge, Massachusetts

 

 

  

    
	 
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This
CO-LENDER AGREEMENT (together with the exhibits and schedules hereto and all amendments hereof and supplements hereto,
this “Agreement”) is dated as of October 14, 2021, between DBR INVESTMENTS CO. LIMITED (“DBRI”),
as an Initial Note A Holder, BANK OF AMERICA, N.A. (“BANA”), as an Initial Note A Holder,
JPMORGAN CHASE BANK, NATIONAL ASSOCIATION (“JPMCB”), as an Initial Note A Holder, 3650 CAL BRIDGE
LENDING, LLC (“3650 Cal Bridge”), as an Initial Note A Holder, DBRI, as Initial Note B-1 Holder,
BANA, as Initial Note B-2 Holder, JPMCB, as Initial Note B-3 Holder, and 3650 Cal Bridge, as Initial Note B-4 Holder.

 

W I T N E S S E T H:

 

WHEREAS,
pursuant to the Mortgage Loan Agreement (as defined herein), DBRI, BANA, JPMCB and 3650 Cal Bridge co-originated a certain loan
(the “Mortgage Loan”) described in Part A of the schedule attached hereto as Exhibit A (the “Mortgage
Loan Schedule”) to the mortgage loan borrowers described on the Mortgage Loan Schedule (together with its successors
and permitted assigns, the “Mortgage Loan Borrowers”, and each, a “Mortgage Loan Borrower”),
in the original aggregate principal amount of $1,225,000,000, which is evidenced, inter alia, by the twenty-four (24) promissory
notes or amended and restated promissory notes, each dated on or before the date hereof, described in Part B of the Mortgage Loan
Schedule (as each such promissory note may be extended, renewed, replaced, restated or modified from time to time, each a “Note”
and, collectively, the “Notes”);

 

WHEREAS,
payment of the Notes is secured by, among other things, a certain Mortgage (as defined in the Mortgage Loan Agreement), dated
as of October 14, 2021 (as such may have been amended or restated to the date hereof and may hereafter be further amended, restated,
supplemented or otherwise modified from time to time, the “Mortgage”), encumbering a first priority mortgage
in the fee simple interest in two life sciences office buildings located at 350 and 450 Water Street, Cambridge, Massachusetts
(the “Mortgaged Properties”);

 

WHEREAS,
with respect to the Mortgage Loan:

 

(a)       DBRI
intends to transfer the DBRI Standalone Notes (as defined herein) to German American Capital Corporation (“GACC”),
who will then transfer them to Deutsche Mortgage & Asset Receiving Corporation (together with its permitted successors and
assigns, the “Depositor”) pursuant to a trust loan purchase agreement between GACC and the Depositor, BANA
intends to transfer the BANA Standalone Notes (as defined herein) to the Depositor pursuant to a trust loan purchase agreement
between BANA and the Depositor, JPMCB intends to transfer the JPMCB Standalone Notes (as defined herein) to the Depositor pursuant
to a trust loan purchase agreement between JPMCB and the Depositor, 3650 Cal Bridge intends to transfer the 3650 Cal Bridge Standalone
Notes (as defined herein) to Depositor pursuant to a trust loan purchase agreement between 3650 Cal Bridge and the Depositor,
and the Depositor intends to transfer the Standalone Notes (the “Trust Loan”) to Wilmington Trust, National
Association, as trustee for a securitization (such securitization, the “Lead Securitization”) involving the
issuance of the CAMB 2021-CX2 Mortgage Trust

 

    
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 Commercial Mortgage Pass-Through Certificates pursuant to the Trust and Servicing
Agreement, dated as of November 9, 2021 (the “Lead Securitization Servicing Agreement”), between the Depositor,
KeyBank National Association, as master servicer (in such capacity, together with its permitted successors and assigns, the “Master
Servicer”), Situs Holdings, LLC, as special servicer (in such capacity, together with its permitted successors and assigns,
the “Special Servicer”), Wilmington Trust, National Association, as trustee (in such capacity, together with
its permitted successors and assigns, the “Trustee”), Park Bridge Lender Services LLC, as operating advisor
(the “Operating Advisor”) and Wells Fargo Bank, National Association, as certificate administrator (in such
capacity, together with its permitted successors and assigns, the “Certificate Administrator”), paying agent
and custodian, and upon such transfer, the Trustee will be become the holder of the Standalone Notes, and

 

(b)       DBRI
(directly or indirectly through its affiliate(s)) expects (but is not obligated) to contribute the DBRI Non-Standalone Notes (as
defined herein), whether in each such Notes’ current form or as multiple replacement promissory notes, into one or more
securitization transactions, BANA (directly or indirectly through its affiliate(s)) expects (but is not obligated) to contribute
the BANA Non-Standalone Notes (as defined herein), whether in each such Notes’ current form or as multiple replacement promissory
notes, into one or more securitization transactions, JPMCB (directly or indirectly through its affiliate(s)) expects (but is not
obligated) to contribute the JPMCB Non-Standalone Notes (as defined herein), whether in each such Notes’ current form or
as multiple replacement promissory notes, into one or more securitization transactions, and 3650 Cal Bridge (directly or indirectly
through its affiliate(s)) expects (but is not obligated) to contribute the 3650 Cal Bridge Non-Standalone Notes (as defined herein),
whether in each such Notes’ current form or as multiple replacement promissory notes, into one or more securitization transactions;

 

WHEREAS,
each Initial Note A Holder, the Initial Note B-1 Holder, the Initial Note B-2 Holder, the Initial Note B-3 Holder and the Initial
Note B-4 Holder desires to enter into this Agreement to memorialize the terms under which they, and their successors and assigns,
shall hold the Notes, respectively.

 

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

 

1.         
Definitions; Conflicts. 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 meanings ascribed
thereto in the Mortgage Loan Agreement or the Lead Securitization Servicing Agreement, as applicable. Except as set forth in Section
4 of this Agreement, to the extent of any inconsistency between terms defined in this Agreement and the Lead Securitization Servicing
Agreement, the Lead Securitization Servicing Agreement shall control. Whenever used in this Agreement, the following terms shall
have the respective meanings set forth below unless the context clearly requires otherwise.

 

    
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“3650
Cal Bridge” shall have the meaning assigned to such term in the recitals of this Agreement.

 

“3650
Cal Bridge Non-Standalone Notes” shall mean the Note A-4-2 and Note A-4-3 having an aggregate Initial Note Principal
Balance equal to $52,900,000.00.

 

“3650
Cal Bridge Standalone A Note” shall mean the Note A-4-1, having an Initial Note Principal Balance equal to $28,500,000.00.

 

“3650
Cal Bridge Standalone Notes” shall mean the 3650 Cal Bridge Standalone A Note and Note B-4, having an aggregate Initial
Note Principal Balance equal to $69,600,000.00.

 

“A
Notes” shall mean the Notes respectively bearing the designations “A-1”, “A-2”, “A-3”
and “A-4” and having an aggregate Initial Note Principal Balance equal to $814,000,000.00.

 

“Acceptable
Insurance Default”: Any default arising when the Mortgage Loan Documents require that the Mortgage Loan Borrowers shall
maintain all risk casualty insurance or other insurance that covers damages or losses arising from acts of terrorism and the Special
Servicer has determined, in its reasonable judgment in accordance with the Accepted Servicing Practices, that (i) such insurance
is not available at commercially reasonable rates and the subject hazards are not commonly insured against by prudent owners of
similar real properties located in or near the geographic region in which the Mortgaged Properties are located (but only by reference
to such insurance that has been obtained by such owners at current market rates) or (ii) such insurance is not available at any
rate. In making this determination, the Special Servicer, to the extent consistent with the Accepted Servicing Practices, may
rely on the opinion of an insurance consultant. From and after the Lead Securitization Date, “Acceptable Insurance Default”
shall have the meaning assigned to such term or any analogous term in the Lead Securitization Servicing Agreement.

 

“Accepted
Servicing Practices” shall mean:

 

(i)
prior to the Lead Securitization Date, the obligation of the Servicer to service and administer the Mortgage Loan in accordance
with this Agreement, the Notes and the Mortgage Loan Documents solely in the best interests and for the benefit of the Holders
(as a collective whole), exercising the higher of (x) the same manner in which, and with the same care, skill, prudence and diligence
with which the Servicer services and administers similar mortgage loans for other third party portfolios, and manages and administers
REO Property for other third party portfolios giving due consideration to customary and usual standards of practice of prudent
institutional commercial lenders servicing their own loans and managing REO Properties for their own account and (y) the same
care, skill, prudence and diligence which the Servicer utilizes for loans which the Servicer owns for its own account, in each
case, acting in accordance with applicable law, the terms of this Agreement and the Mortgage Loan Documents and with a view to

 

    
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the maximization of timely recovery of principal and interest on a net present value basis on the Mortgage Loan, but without regard
to:

 

(A)       any
relationship that the Servicer or any Affiliate of the Servicer may have with the Mortgage Loan Borrowers or any Mortgage Loan
Borrower Related Parties;

 

(B)       the
ownership of any interest in the Mortgage Loan or any certificate issued or to be issued in connection with a Securitization by
the Servicer or any Affiliate of the Servicer;

 

(C)       the
ownership of any junior indebtedness with respect to the Mortgaged Properties by the Servicer or any Affiliate of the Servicer;

 

(D)       the
Servicer’s obligation to make Advances as specified herein or otherwise incur servicing expenses with respect to the Mortgage
Loan;

 

(E)       the
Servicer’s right to receive compensation for its services hereunder or with respect to any particular transaction;

 

(F)       the
ownership, or servicing or management for others, by the Servicer or any sub-servicer, of any other mortgage loans or properties;
or

 

(G)       the
right of the Servicer or any sub-servicer to receive reimbursement of costs; and

 

(ii)
from and after the Lead Securitization Date, the meaning assigned to the term “Accepted Servicing Practices” or “Servicing
Standard” or any analogous term in the Lead Securitization Servicing Agreement.

 

“Additional
Servicing Compensation” shall mean any servicing compensation (other than Servicing Fees, Special Servicing Fees, Workout
Fees or Liquidation Fees) that any Servicer is entitled to retain under the Servicing Agreement.

 

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

 

“Advance”
means a Property Advance, a P&I Advance or an Administrative Advance, as the context may require.

 

“Advance
Interest Amount” shall mean the amount of interest accrued and unpaid on any Property Advance pursuant to the terms
of the Servicing Agreement.

 

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

 

“Affiliate”
shall mean with respect to any specified Person, (a) any other Person controlling or controlled by or under common control with
such specified Person (each a

 

    
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“Common Control Party”), (b) any other Person owning, directly or indirectly,
ten percent (10%) or more of the beneficial interests in such Person or (c) any other Person in which such Person or a Common
Control Party owns, directly or indirectly, ten percent (10%) or more of the beneficial interests. For the purposes of this definition,
“control” when used with respect to any specified Person means the power to direct the management and policies of
such Person, directly or indirectly, whether through the ownership of voting securities, by contract, relation to individuals
or otherwise, and the terms “controlling” and “controlled” have meanings correlative to the foregoing.

 

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

 

“Anticipated
Repayment Date” shall have the meaning assigned to such term in the Mortgage Loan Agreement.

 

“ARD
Interest” shall mean interest accrued at the Adjusted Blended Interest Rate, as defined in the Mortgage Loan Agreement.

 

“Appraisal”
shall mean an appraisal with respect to the Mortgaged Properties conducted in accordance with the standards of the Appraisal Institute
by an Appraiser and certified by such Appraiser as having been prepared in accordance with the requirements of the Standards of
Professional Practice of the Appraisal Institute and the Uniform Standards of Professional Appraisal Practice of the Appraisal
Foundation, as well as FIRREA. From and after the Lead Securitization Date, “Appraisal” shall have the meaning assigned
to such term or any analogous term in the Lead Securitization Servicing Agreement.

 

“Appraisal
Reduction Amounts” shall mean:

 

(i)
prior to the Lead Securitization Date, for any Remittance Date as to which an Appraisal Reduction Event has occurred, an amount
equal to the excess, if any, of (a) the sum of (1) the Mortgage Loan Principal Balance as of the immediately preceding Monthly
Payment Date, (2) to the extent not previously advanced by the Servicer or any other Holder as an Advance under Section 9
or Section 11(b), all accrued and unpaid interest on the Mortgage Loan at a per annum rate equal to the
Note Interest Rate on each of the Notes, (3) all unreimbursed Advances, with interest thereon at the Advance Rate in respect of
the Mortgage Loan, and (4) all currently due and unpaid real estate taxes, ground rents and assessments and insurance premiums
(less any amounts held in escrow for such items) and all other amounts (not including any default interest, Penalty Charges, Prepayment
Charges, liquidated damage amounts or other similar fees or charges) currently due and unpaid with respect to the Mortgage Loan
(which taxes, premiums and other amounts have not been the subject of an Advance by the Servicer), over (b) an amount
equal to ninety percent (90%) of the appraised value of the Mortgaged Properties as determined by the most recent Updated Appraisal
obtained by the Servicer (the cost of which shall be advanced by such Servicer as an Advance), minus the dollar amount
of any liens on the Mortgaged Properties that are prior to the lien of the Mortgage (other than the liens for any items set forth
in the immediately preceding clause (a)(4) which have been insured or bonded over by Qualified Insurers, plus (without
duplication of any

 

    
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amounts held in escrow deducted in clause (a)(4) above) the aggregate of all reserves, letters of credit and
escrows held in connection with the Mortgage Loan to the extent that such reserves, letters of credit and escrows are permitted
to be used by the Servicer in reduction of the Mortgage Loan); and

 

(ii)
from and after the Lead Securitization Date, the meaning assigned to such term or any analogous term in the Lead Securitization
Servicing Agreement.

 

“Appraisal
Reduction Event” shall mean:

 

(i)
prior to the Lead Securitization Date, the earliest to occur of any of the following: (a) 60 days after an uncured payment
delinquency (other than a delinquency in respect of the Balloon Payment) occurs in respect of the Mortgage Loan, (b) 90 days
after an uncured delinquency occurs in respect of the Balloon Payment for the Mortgage Loan unless a refinancing is anticipated
within 120 days after the Maturity Date of the Mortgage Loan (as evidenced by a written and binding refinancing commitment
from an acceptable lender and reasonably satisfactory in form and substance to the Servicer, and the Controlling Holder, which
provides that such refinancing shall occur within 120 days after the Maturity Date, in which case 120 days after such
uncured delinquency), (c) 60 days after a reduction in monthly debt service payments or a material adverse economic
change with respect to the terms of the Mortgage Loan has become effective, (d) 60 days after an extension of the Maturity
Date of the Mortgage Loan (except for an extension within the time periods described in clause (b) above), (e) 60
days after a receiver has been appointed in respect of the Mortgaged Properties securing the Mortgage Loan on behalf of the Lenders
or any other creditor, (f) immediately after any Mortgage Loan Borrower declares, or becomes the subject of, bankruptcy,
insolvency or similar proceeding, admits in writing the inability to pay its debts as they come due or makes an assignment for
the benefit of creditors unless such action is dismissed within 45 days, or (g) immediately after the Mortgaged Properties
securing the Mortgage Loan becomes an REO Property; and

 

(ii)
from and after the Lead Securitization Date, the meaning assigned to such term or any analogous term in the Servicing Agreement.

 

In
addition to the foregoing, prior to the Lead Securitization Date, each Note B Holder shall have the right, at its sole expense,
to require the Special Servicer to order an additional Appraisal of the Mortgage Loan if an event has occurred at or with regard
to the Mortgaged Properties that would have a material effect on its appraised value, and the Special Servicer will be required
to use its reasonable best efforts to ensure that such Appraisal is delivered within 30 days from receipt of such Note B Holder’s
written request and to ensure that such Appraisal is prepared on an “as is” basis by an Appraiser in accordance with
MAI standards; provided, that the Special Servicer will not be required to obtain such Appraisal if (i) the Special Servicer
determines in accordance with Accepted Servicing Practices that no events at or with regard to the Mortgaged Properties have occurred
that would have a material effect on such appraised value of the Mortgaged Properties or (ii) a Note B Holder had ordered an

 

    
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 Appraisal
in the past 9 months. Upon receipt of an Appraisal requested by a Note B Holder pursuant to this definition of “Appraisal
Reduction Event” and any other information reasonably requested by the Special Servicer from the Servicer reasonably required
to calculate or recalculate the Appraisal Reduction Amount, the Special Servicer will be required to determine, in accordance
with Accepted Servicing Practices, whether, based on its assessment of such additional Appraisal, any recalculation of the Appraisal
Reduction Amount is warranted and, if so warranted, will be required to recalculate such Appraisal Reduction Amount based upon
such additional Appraisal. From and after the Lead Securitization Date, the analogous provisions to this paragraph of the Lead
Securitization Servicing Agreement shall control.

 

“Appraiser”
shall mean an independent appraiser, selected by the Servicer, as applicable, that is a member in good standing of the Appraisal
Institute and that is certified or licensed in the state in which the Mortgaged Properties are located, and who has a minimum
of five (5) years’ experience in the appraisal of comparable properties in the geographic area in which such Mortgaged Properties
are located.

 

“Approved
Bank” shall mean a domestic financial institution which (A) prior to a Securitization, has long term unsecured debt
obligations of which are rated not less than “AA” by S&P, “A” by Fitch and “Aa2” by Moody’s
or the short-term obligations of which are rated at least “A-1+” by S&P, “F-1” by Fitch and “P-1”
by Moody’s and (B) after a Securitization, has long term long unsecured debt obligations and/or short term obligations which
meet the applicable rating requirements of the Rating Agencies.

 

“B
Notes” shall mean Note B-1, Note B-2, Note B-3 and Note B-4.

 

“Balloon
Payment” shall mean, with respect to the Mortgage Loan, the payment of principal due on its scheduled Maturity Date.

 

“Bankruptcy
Code” shall mean the United States Bankruptcy Code (11 U.S.C. Sec.101 et seq.), or any similar statute, law, rules,
regulations or similar legal requirements of any other applicable jurisdiction, in each case, as amended from time to time or
any successor statute or rule promulgated thereto.

 

“BANA”
shall have the meaning assigned to such term in the recitals of this Agreement.

 

“BANA
Non-Standalone Notes” shall mean the Note A-2-2, Note A-2-3, Note A-2-4 and Note A-2-5, having an aggregate Initial
Note Principal Balance equal to $107,959,183.71.

 

“BANA
Standalone A Note” shall mean the Note A-2-1, having an Initial Note Principal Balance equal to $58,163,265.27.

 

“BANA
Standalone Notes” shall mean the BANA Standalone A Note and Note B-2, having an aggregate Initial Note Principal Balance
equal to $142,040,816.29.

 

    
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“Business
Day” shall have the meaning assigned to such term in the Servicing Agreement.

 

“Certificate
Administrator” shall have the meaning assigned to such term in the recitals of this Agreement.

 

“CLO
Asset Manager” with respect to any Securitization Vehicle which is a CLO, shall mean the entity which is responsible
for managing or administering the applicable Note or an interest therein 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).

 

“Closing
Date” shall mean November 9, 2021.

 

“Code”
shall have the meaning assigned to such term in Section 4(h).

 

“Collateral
Deficiency Amounts” shall have the meaning, if any, given such term in the Lead Securitization Servicing Agreement.

 

“Collection
Account” shall mean with respect to the Mortgage Loan, an account (including any subaccount) established pursuant to
the terms of this Agreement or, from and after the Lead Securitization Date, the Lead Securitization Servicing Agreement, in which
amounts received in respect of the Mortgage Loan are segregated (by ledger entries or otherwise) and held for the benefit of the
Holders.

 

“Commission”
means the United States Securities and Exchange Commission.

 

“Common
Control Party” shall have the meaning given to such term in the definition of “Affiliate.”

 

“Control
Appraisal Event” shall be deemed to have occurred if and so long as (a) (1) the Initial Note B Principal Balance, minus
(2) the sum of (x) any payments of principal (whether as Prepayments or otherwise) allocated to, and received on, any B Note,
(y) any Appraisal Reduction Amounts allocated to any B Note in accordance with the terms of this Agreement, and (z) any Realized
Losses with respect to the Mortgage Loan to the extent allocated to the B Notes, is less than (b) twenty-five percent (25%) of
the Initial Note B Principal Balance.

 

“Controlling
Class Representative” shall have the meaning, if any, given such term in the Lead Securitization Servicing Agreement.

 

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

 

(i)          prior
to the Lead Securitization Date,

 

(x)       jointly,
the Note B-1 Holder, the Note B-2 Holder, the Note B-3 Holder and the Note B-4 Holder, unless (x) a Control Appraisal
Event has

 

    
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occurred and is continuing, or (y) any of Note B-1, Note B-2, Note B-3 or Note B-4 is held by the Mortgage Loan
Borrowers or a Mortgage Loan Borrower Related Party (in which case the Holder of the related B Note shall not be a Controlling
Holder), or

 

(y)      if
no Control Appraisal Event has occurred and is continuing, but any of Note B-1, Note B-2, Note B-3 or Note B-4 is held by the
Mortgage Loan Borrowers or a Mortgage Loan Borrower Related Party, then, jointly, the Holders of one or more B Notes that are
not held by the Mortgage Loan Borrowers or a Mortgage Loan Borrower Related Party, or

 

(z)      if
a Control Appraisal Event has occurred and is continuing, or if each of Note B-1, Note B-2, Note B-3 or Note B-4 is held
by the Mortgage Loan Borrowers or a Mortgage Loan Borrower Related Party, then, jointly, the Note A Holders; provided that:

 

(1)       if
a Control Appraisal Event occurs, then for the purposes of determining whether the Control Appraisal Event is continuing, the
outstanding Note Principal Balance of each B Note shall be adjusted (up or down, as applicable) to reflect the then current Appraisal
Reduction Amount, if any, indicated by any subsequently obtained Appraisal(s);

 

(2)       in
the event that a Note held by the Controlling Holder pursuant to this definition is held by more than one Person, (1) the Holder(s)
of at least a 51% interest therein may act as the Controlling Holder hereunder and (2) any ownership interest held by the Mortgage
Loan Borrowers or a Mortgage Loan Borrower Related Party shall be deemed to equal zero for the purposes of determining which owners
can exercise the rights of the Controlling Holder hereunder; and

 

(3)       the
Controlling Holder shall be entitled to appoint any Person to act on its behalf in exercising the rights of the Controlling Holder
hereunder and under the Servicing Agreement provided that such appointment is communicated in writing to the Lead Securitization
Note Holder and any Servicer acting on its behalf. Such designation shall remain in effect until it is revoked by the Controlling
Holder by a writing delivered to the parties hereto; and

 

(ii)
from and after the Lead Securitization Date, the Lead Securitization Trust.

 

“Controlling
Holder Repurchase Notice” shall have the meaning set forth in Section 11.

 

    
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“Corrected
Mortgage Loan” shall mean:

 

(i)
prior to the Lead Securitization Date, the meaning assigned in the definition herein of “Specially Serviced Mortgage Loan”;
and

 

(ii)
from and after the Lead Securitization Date, the meaning assigned to such term or any analogous term in the Lead Securitization
Servicing Agreement.

 

“Costs”
shall mean all out-of-pocket costs, fees, expenses, Property Advances, interest, payments, losses, liabilities, judgments and/or
causes of action reasonably suffered or incurred or reasonably paid by a Holder (or any Servicer or other party (including a securitization
trustee, custodian and/or certificate administrator) acting on behalf of such Holder) pursuant to or in connection with the enforcement
and administration of the Mortgage Loan, the Mortgage Loan Documents (not including any Servicing Fees, Special Servicing Fees,
Workout Fees, Liquidation Fees or Additional Servicing Compensation), the Mortgaged Properties, this Agreement, including, without
limitation, attorneys’ fees and disbursements, taxes, assessments, insurance premiums and other protective advances, except
for those resulting from the negligence or willful misconduct of such Holder (or any Servicer or other party (including a securitization
trustee) acting on behalf of such Holder); provided, however, that none of the following shall be included or deemed
to be “Costs”: (i) the costs and expenses relating to the origination or securitization of any Note, including the
payment of any securitization trustee fee, (ii) the day-to-day customary and usual, ordinary costs of servicing and administering
the Mortgage Loan, (iii) insofar as any Note is an asset of a Securitization Trust and as such to the extent the following amounts
are allocable to such Note under the terms of the related Securitization documents: (a) any fees, costs or expenses related to
the reporting and compliance with the REMIC Provisions or any provisions of the Code relating to the creation or administration
of a grantor trust relating to a Securitization Trust, including the determination related to the amount, payment or avoidance
of any REMIC or grantor trust tax on a Securitization Trust or its assets or transactions, (b) any fees, costs or expenses incurred
in connection with any audit or any review of the related Securitization Trust or its assets or transactions by the Internal Revenue
Service or other governmental authority, (c) any REMIC or grantor trust taxes imposed on the related Securitization Trust or its
assets or transactions, (d) any advance made by a party to the related Securitization in respect of a delinquent monthly debt
service payment on such Note or any interest accrued on such advance, or (e) any fees, costs or expenses relating to any other
mortgage loan included in a Securitization Trust with the related Non-Standalone Note(s).

 

“Cure
Payment” shall have the meaning set forth in Section 11(b).

 

“DBRI”
shall have the meaning assigned to such term in the recitals of this Agreement.

 

“DBRI
Non-Standalone Notes” shall mean the Note A-1-2, Note A-1-3, Note A-1-4, Note A-1-5, Note A-1-6, Note A-1-7, Note A-1-8
and Note A-1-9, having an aggregate Initial Note Principal Balance equal to $314,161,224.43.

 

    
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“DBRI
Standalone A Note” shall mean the Note A-1-1, having an Initial Note Principal Balance equal to $169,255,102.10.

 

“DBRI
Standalone Notes” shall mean the DBRI Standalone A Note and Note B-1, having an aggregate Initial Note Principal Balance
equal to $413,338,775.57.

 

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

 

“Defaulted
Mortgage Loan Purchase Price” shall mean the sum of the following, without duplication, the sum of (i) the Note Principal
Balance of each A Note (as of the date of purchase), (ii) accrued and unpaid interest on the Note Principal Balance of each A
Note at its Note Interest Rate and any accrued and unpaid ARD Interest on the Note Principal Balance of each A Note, up to (but
excluding) the date of purchase and if such date of purchase is not a Monthly Payment Date, up to (but excluding) the Monthly
Payment Date next succeeding the date of purchase, provided payment is made in good funds by 3:00 p.m. New York local time,
(iii) any Property Advances that have not been reimbursed from collections on the Mortgage Loan and the related Advance Interest
Amount (but excluding any portion of such Property Advance that was made by a Note B Holder and any interest thereon), (iv) any
interest accrued on any P&I Advance made on any A Note by a party to the Lead Securitization Servicing Agreement or a Non-Lead
Securitization Servicing Agreement, as applicable, at the rate specified in the related servicing agreement; (v) any accrued and
unpaid Servicing Fees, trustee fees, certificate administrator fees, Special Servicing Fees, Workout Fees, Liquidation Fees and
Additional Servicing Compensation, and (vi) any unreimbursed Costs incurred by any Note A Holder or any party acting on its behalf
(which are not included in the preceding clauses of this paragraph).

 

Subject
to the terms of Section 20(h) of this Agreement, the Defaulted Mortgage Loan Purchase Price, in the context of the initial
offer for sale of REO Property or a Specially Serviced Mortgage Loan (to a party other than a Note B Holder) pursuant to the terms
of Section 20(g) of this Agreement, shall, in addition to the amounts specified in the preceding paragraph, include the
sum of (i) the Note B Principal Balance (as of the date of purchase), (ii) the accrued and unpaid interest on the Note Principal
Balance of each B Note at its Note Interest Rate and any accrued and unpaid ARD Interest on the Note Principal Balance of each
A Note, up to (but excluding) the date of purchase and if such date of purchase is not a Monthly Payment Date, up to (but excluding)
the Monthly Payment Date next succeeding the date of purchase, provided payment is made in good funds by 3:00 PM New York local
time, (iii) any unreimbursed Property Advances made by a Note B Holder and the related Advance Interest Amount, (iv) any interest
accrued on any P&I Advance made by a party to the Lead Securitization Servicing Agreement in respect of a B Note at the rate
specified in the Lead Securitization Servicing Agreement; and (v) any unreimbursed Costs incurred by a Note B Holder or any party
acting on its behalf (which are not included in the preceding paragraph or the preceding clauses in this paragraph).

 

In
determining the Defaulted Mortgage Loan Purchase Price, amounts payable by the Mortgage Loan Borrowers as a Prepayment Charge,
default interest, Penalty Charges and

 

    
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other similar fees and the value of such amounts shall not be included, unless a Note B
Holder is a Mortgage Loan Borrower or a Mortgage Loan Borrower Related Party upon the occurrence of any event which requires a
Repurchase Option Notice pursuant to Section 11 of this Agreement.

 

“Depositor”
shall have the meaning assigned to such term in the recitals of this Agreement.

 

“Directing
Holder” shall have the meaning set forth in Section 21(a).

 

“Eligibility
Requirements” shall mean, with respect to any Person, that such Person has at least $200,000,000 in capital/statutory
surplus or shareholders’ equity (except with respect to a pension advisory firm or similar fiduciary) and at least $600,000,000
in total assets (in name or under management), and is regularly engaged in the business of making or owning commercial real estate
loans (or interests therein), mezzanine loans (or interests therein) or commercial loans (or interests therein) similar to the
Mortgage Loan.

 

“Environmental
Law” shall mean any present or future federal, state or local law, statute, regulation or ordinance, any judicial or
administrative order or judgment thereunder, pertaining to health, industrial hygiene, hazardous substances or the environment,
including, but not limited to, each of the following, as enacted as of the date hereof or as hereafter amended: the Comprehensive
Environmental Response, Compensation and Liability Act of 1980, 42 U.S.C. §§ 9601 et seq.; the Resource Conservation
and Recovery Act of 1976, 42 U.S.C. §§ 6901 et seq.; the Toxic Substance Control Act, 15 U.S.C. §§ 2601 et
seq.; the Water Pollution Control Act (also known as the Clean Water Act, 22 U.S.C. §§ 1251 et seq.), the Clean Air
Act, 42 U.S.C. §§ 7401 et seq. and the Hazardous Materials Transportation Act, 49 U.S.C. §§ 1801 et seq.

 

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

 

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

 

“Holder”
shall mean, with respect to each Note, the Initial Holder of such Note or any subsequent holder of such Note.

 

“Initial
Holders” shall mean, individually or collectively as the context may require, the Initial Note A Holders, the Initial
Note B-1 Holder, the Initial Note B-2 Holder, the Initial Note B-3 Holder and the Initial Note B-4 Holder.

 

“Initial
Note A Holder” shall mean, individually or collectively as the context may require, the Initial Note A Holder/DBRI,
the Initial Note A Holder/BANA, the Initial Note A Holder/JPMCB and the Initial Note A Holder/3650 Cal Bridge.

 

“Initial
Note A Holder/3650 Cal Bridge” shall mean 3650 Cal Bridge as the initial owner of the 3650 Cal Bridge Non-Standalone
Notes and the 3650 Cal Bridge Standalone A Note.

 

    
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“Initial
Note A Holder/BANA” shall mean BANA as the initial owner of the BANA Non-Standalone Notes and the BANA Standalone A
Note.

 

“Initial
Note A Holder/DBRI” shall mean DBRI as the initial owner of the DBRI Non-Standalone Notes and the DBRI Standalone A
Note.

 

“Initial
Note A Holder/JPMCB” shall mean JPMCB as the initial owner of the JPMCB Non-Standalone Notes and the JPMCB Standalone
A Note.

 

“Initial
Note B Holders” shall mean, individually or collectively as the context may require, the Initial Note B-1 Holder, the
Initial Note B-2 Holder, the Initial Note B-3 Holder and the Initial Note B-4 Holder.

 

“Initial
Note B Principal Balance” shall mean the aggregate Initial Note Principal Balance of Note B-1, Note B-2, Note B-3 and
Note B-4.

 

“Initial
Note B-1 Holder” shall mean DBRI as the initial owner of Note B-1.

 

“Initial
Note B-2 Holder” shall mean BANA as the initial owner of Note B-2.

 

“Initial
Note B-3 Holder” shall mean JPMCB as the initial owner of Note B-3.

 

“Initial
Note B-4 Holder” shall mean 3650 Cal Bridge as the initial owner of Note B-4.

 

“Initial
Note Principal Balance” shall mean, with respect to each Note as of any date of determination, the “Initial Note
Principal Balance” for such Note set forth in Part B of the Mortgage Loan Schedule.

 

“Interim
Servicer” shall mean the master servicer (or single servicer) appointed jointly by the Initial Holders under this Agreement
and any successor master servicer (or single servicer) appointed as provided hereunder, which Interim Servicer shall be a Qualified
Servicer. The initial Interim Servicer shall be KeyBank National Association pursuant to the Interim Servicing Agreement.

 

“Interim
Servicing Agreement” shall mean, collectively, certain servicing agreements (or other servicing arrangements), entered
into between the Initial Holders (or their affiliates), as owners, and the Interim Servicer, as servicer, and any replacement
servicing agreement entered into with any successor Interim Servicer appointed jointly by the Holders.

 

“JPMCB”
shall have the meaning assigned to such term in the recitals of this Agreement.

 

“JPMCB
Non-Standalone Notes” shall mean the Note A-3-2 and Note A-3-3, having an aggregate Initial Note Principal Balance equal
to $53,979,591.86.

 

    
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“JPMCB
Standalone A Note” shall mean the Note A-3-1, having an Initial Note Principal Balance equal to $29,081,632.63.

 

“JPMCB
Standalone Notes” shall mean the JPMCB Standalone A Note and Note B-3, having an aggregate Initial Note Principal Balance
equal to $71,020,408.14.

 

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

 

“Lead
Securitization” shall have the meaning assigned to such term in the recitals of this Agreement.

 

“Lead
Securitization Date” shall mean the closing date for the Lead Securitization.

 

“Lead
Securitization Note Holder” shall mean, (i) prior to the Lead Securitization Date or if each Standalone Note is no longer
included in the Lead Securitization Trust, the Note A-1 Holder, and (ii) from and after the Lead Securitization Date, the Lead
Securitization Trust.

 

“Lead
Securitization Servicing Agreement” shall have the meaning assigned to such term in the recitals of this Agreement.

 

“Lead
Securitization Trust” shall mean the trust established pursuant to the Lead Securitization Servicing Agreement in connection
with the Lead Securitization.

 

“Letter
of Credit” shall mean an irrevocable, unconditional, transferable, clean sight draft letter of credit, as the same may
be replaced, split, substituted, modified, amended, supplemented, assigned or otherwise restated from time to time (either an
evergreen letter of credit or a letter of credit which does not expire until at least two (2) Business Days after the Maturity
Date of the Mortgage Loan) in favor of the Note A Holder and entitling the Note A Holder to draw thereon, at a domestic location
reasonably acceptable to the Note A Holder, based solely on a statement purportedly executed by an officer of the Note A Holder
stating that it has the right to draw thereon, and issued by a domestic Approved Bank or the U.S. agency or branch of a foreign
Approved Bank.

 

“Liquidation
Fee” shall mean:

 

(i)
prior to the Lead Securitization Date, if the Mortgage Loan or the Mortgaged Properties are sold or transferred or otherwise liquidated
(or a Specially Serviced Mortgage Loan is sold or liquidated or a final discounted payoff is made), a fee payable to the Servicer
from Liquidation Proceeds with respect to the Mortgaged Properties if the Servicer receives any Liquidation Proceeds with respect
thereto, equal to 50 basis points (0.50%) multiplied by Liquidation Proceeds (net of any Servicing Fees, Special Servicing Fees
and reimbursement of any Advances or interest thereon payable therefrom and legal fees and expenses, Appraisal fees, brokerage
fees, and similar fees and expenses in connection with the maintenance and

 

    
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preservation of the Mortgaged Properties) related to
the Mortgage Loan or Mortgaged Properties; and

 

(ii)
from and after the Lead Securitization Date, the meaning assigned to such term in the Lead Securitization Servicing Agreement.

 

The
Liquidation Fee shall be payable to the Special Servicer upon receipt of Liquidation Proceeds; provided, however,
that the parties agree that no Liquidation Fee will be payable in connection with, or out of, Liquidation Proceeds resulting from
the purchase of the Mortgaged Properties or all the A Notes by a Note B Holder pursuant to the provisions of this Agreement or
the Lead Securitization Servicing Agreement within ninety (90) days after a Triggering Event of Default.

 

“Liquidation
Proceeds” shall mean:

 

(i)
prior to the Lead Securitization Date, the amount (other than insurance proceeds or amounts required to be paid to the Mortgage
Loan Borrowers or other Persons pursuant to the Mortgage Loan Documents or applicable law) received in connection with the liquidation
of the Mortgaged Properties or REO Property through a trustee’s sale, foreclosure sale or otherwise or the sale or other
liquidation of the Mortgage Loan, including a final discounted payoff of the Mortgage Loan, and

 

(ii)
from and after the Lead Securitization Date, shall have the meaning assigned to such term in the Lead Securitization Servicing
Agreement.

 

“Major
Decision” means:

 

(i)
prior to the Lead Securitization Date:

 

(a)      
any proposed or actual foreclosure upon or comparable conversion of the ownership of properties securing the Mortgage Loan;

 

(b)      
any modification, consent to a modification or waiver of a monetary term (other than late payment charges or Default Interest)
or material non-monetary term (including, without limitation, the timing of payments and acceptance of discounted payoffs but
excluding late payment charges or Default Interest) of the Mortgage Loan or any extension of the Maturity Date of the Mortgage
Loan;

 

(c)       
any sale of the Mortgage Loan, an REO Property for less than the Defaulted Mortgage Loan Purchase Price;

 

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

 

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

 

(f)       
any waiver of a “due-on-sale” or “due-on-encumbrance” clause or any consent to such waiver or consent
to a transfer of the Mortgaged Properties or interests in the Mortgage Loan Borrowers or consent to the incurrence of additional
debt, other than any such transfer or incurrence of debt as may be effected without the consent of the lender under the loan agreement;

 

(g)      
any property management company changes for which the lender is required to consent or approve under the Mortgage Loan Documents
or franchise changes for which the lender is required to consent or approve under the Mortgage Loan Documents;

 

(h)      
releases of any escrows, reserve accounts or letters of credit held as performance escrows or reserves other than those required
pursuant to the specific terms of the Mortgage Loan and for which there is no material lender discretion;

 

(i)        
any acceptance of an assumption agreement releasing the Mortgage Loan Borrowers from liability under the Mortgage Loan and for
which there is no lender discretion;

 

(j)        
any determination of an Acceptable Insurance Default;

 

(k)      
the determination of the Special Servicer pursuant to clause (b) of the definition of “Specially Serviced Loan”;
and

 

(l)        
any acceleration of the Mortgage Loan following a default or an event of default or any initiation of judicial, bankruptcy or
similar proceedings under the Mortgage Loan Documents; and

 

(ii)
from and after the Lead Securitization Date, shall have the meaning assigned to such term in the Lead Securitization Servicing
Agreement.

 

“Master
Servicer” shall have the meaning set forth in the recitals of this Agreement.

 

“Maturity
Date” shall have the meaning assigned to such term as set forth in the Mortgage Loan Schedule.

 

“Monthly
Payment Date” shall mean the “Monthly Payment Date” set forth in the Mortgage Loan Agreement.

 

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

 

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

 

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

 

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

 

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

 

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

 

“Mortgage
Loan Borrower(s)” shall have the meaning assigned such term in the recitals.

 

“Mortgage
Loan Borrower Related Parties” shall have the meaning assigned such term in Section 19.

 

“Mortgage
Loan Documents” shall mean the Mortgage, the Mortgage Loan Agreement, the Notes and all other documents evidencing or
securing the Mortgage Loan including, without limitation, all guaranties and indemnities, as same may be amended, modified or
restated in accordance with this Agreement.

 

“Mortgage
Loan Principal Balance” shall mean, at any date of determination, the outstanding principal balance of the Mortgage
Loan.

 

“Mortgage
Loan Schedule” shall mean the schedule in the form attached hereto as Exhibit A, which schedule sets forth certain
information regarding the Mortgage Loan.

 

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

 

“Net
Note Interest Rate” shall mean, with respect to each Note, the Note Interest Rate for such Note minus the Servicing
Fee Rate.

 

“Non-Controlling
Holder” shall mean any Holder that is not the Controlling Holder. In the event that any Note is an asset of a Non-Lead
Securitization, the rights of the Holder of any such Note in its capacity as a Non-Controlling Holder may be exercised by the
“directing holder,” “controlling class representative” or other party designated to exercise such rights
pursuant to the terms of the related Non-Lead Securitization Servicing Agreement.

 

“Non-Lead
Securitization” shall mean the sale of all or a portion of any Non-Standalone Note to a depositor, who will in turn
include such Note as part of the related Non-Lead Securitization of one or more other mortgage loans.

 

    
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“Non-Lead
Securitization Servicing Agreement” shall mean any pooling and servicing agreement (or analogous agreement) relating
to a Note, other than the Lead Securitization Servicing Agreement.

 

“Nonrecoverable
Administrative Advance” means an Administrative Advance that has been determined to be “nonrecoverable”
in accordance with the terms of the applicable Servicing Agreement.

 

“Nonrecoverable
P&I Advance” means a P&I Advance that has been determined to be “nonrecoverable” in accordance with
the terms of the Lead Securitization Servicing Agreement or Non-Lead Securitization Servicing Agreement, as applicable.

 

“Nonrecoverable
Property Advance” means a Property Advance that has been determined to be “nonrecoverable” in accordance
with the terms of the applicable Servicing Agreement.

 

“Non-Standalone
Notes” shall means the DBRI Non-Standalone Notes, BANA Non-Standalone Notes, JPMCB Non-Standalone Notes, 3650 Cal Bridge
Non-Standalone Notes and any related New Note created in accordance with Section 40(b).

 

“Note
A Holder” shall mean, individually or collectively as the context may require, the Note A-1 Holders, the Note A-2 Holders,
Note A-3 Holders and Note A-4 Holders.

 

“Note
A Principal Balance” shall mean, as of any date of determination, the aggregate Note Principal Balance of the A Notes.

 

“Note
A-1 Holder” shall mean, individually or collectively as the context may require, the Initial Note A Holders, or any
subsequent holders, of the Notes respectively bearing the designations “A-1-1”, “A-1-2”, “A-1-3”,
“A-1-4”, “A-1-5,” “A-1-6,” “A-1-7,” “A-1-8” and “A-1-9”.

 

“Note
A-2 Holder” shall mean, individually or collectively as the context may require, the Initial Note A Holders, or any
subsequent holders, of the Notes respectively bearing the designations “A-2-1”, “A-2-2”, “A-2-3”,
“A-2-4” and “A-2-5”.

 

“Note
A-3 Holder” shall mean, individually or collectively as the context may require, the Initial Note A Holders, or any
subsequent holders, of the Notes respectively bearing the designations “A-3-1”, “A-3-2” and “A-3-3”.

 

“Note
A-4 Holder” shall mean, individually or collectively as the context may require, the Initial Note A Holders, or any
subsequent holders, of the Notes respectively bearing the designations “A-4-1”, “A-4-2” and “A-4-3”.

 

“Note
B Holder” shall mean, individually or collectively as the context may require, the Note B-1 Holder, the Note B-2 Holder,
the Note B-3 Holder and the Note B-4 Holder.

 

    
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“Note
B Principal Balance” shall mean, as of any date of determination, the aggregate Note Principal Balance of the B Notes.

 

“Note
B-1” shall mean the Note bearing the designation “B-1”.

 

“Note
B-1 Holder” shall mean the Initial Note B-1 Holder or any subsequent holder of Note B-1.

 

“Note
B-2” shall mean the Note bearing the designation “B-2”.

 

“Note
B-2 Holder” shall mean the Initial Note B-2 Holder or any subsequent holder of Note B-2.

 

“Note
B-3” shall mean the Note bearing the designation “B-3”.

 

“Note
B-3 Holder” shall mean the Initial Note B-3 Holder or any subsequent holder of Note B-3.

 

“Note
B-4” shall mean the Note bearing the designation “B-4”.

 

“Note
B-4 Holder” shall mean the Initial Note B-4 Holder or any subsequent holder of Note B-4.

 

“Note
Default Interest Rate” shall mean, with respect to each Note, the “Note Default Interest Rate” for such
Note as set forth in the Mortgage Loan Schedule.

 

“Note
Interest Rate” shall mean, with respect to each Note, the “Note Interest Rate” for such Note as set forth
in the Mortgage Loan Schedule.

 

“Note
Principal Balance” shall mean, with respect to each Note at any time of determination, the “Initial Note Principal
Balance” for such Note as set forth in the Mortgage Loan Schedule, as previously reduced by payments of principal thereon
received by the related Holder and any reductions in such amount pursuant to Section 4(c) and Section 7.

 

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

 

“Open
Prepayment Date” shall have the meaning set forth in the Mortgage Loan Agreement.

 

“P&I
Advance” shall mean an advance made in respect of a delinquent monthly debt service payment on a Note included in a
Securitization by a party to such Securitization (and in accordance with the terms of the Lead Securitization Servicing Agreement
or the related Non-Lead Securitization Servicing Agreement, as the case may be).

 

“Penalty
Charges” shall mean any amounts actually collected on the Mortgage Loan from the Mortgage Loan Borrowers that represent
late payment charges, other than a Prepayment Charge or default interest.

 

    
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“Percentage
Interest” shall mean, with respect to each Note, as of any date of determination, the ratio of the Note Principal Balance
of such Note to the Mortgage Loan Principal Balance.

 

“Permitted
Fund Manager” shall mean any Person that on the date of determination is (i) one of the entities listed on Schedule
1 annexed hereto and made a part hereof 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 committed capital of at least $250,000,000,
and (iii) not subject to a proceeding relating to the bankruptcy, insolvency, reorganization or relief of debtors.

 

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

 

“Prepayment”
shall mean any payment of principal made by the Mortgage Loan Borrowers with respect to the Mortgage Loan which is received in
advance of its scheduled Maturity Date, whether made by reason of a casualty or condemnation, due to the acceleration of the maturity
of the Notes or otherwise.

 

“Prepayment
Charge” shall mean any yield maintenance premium, prepayment premium, spread maintenance premium or similar fee required
to be paid in connection with a Prepayment of the Mortgage Loan.

 

“Prepayment
Charge Entitlement” shall mean, with respect to any Prepayment made with a Prepayment Charge and respect to any Note,
the product of: (A) a fraction whose numerator is the amount of such Prepayment and whose denominator is the outstanding principal
balance of such Note before giving effect to such Prepayment, times (B) the amount by which (1) the sum of the respective present
values, computed as of the date of such Prepayment, of the remaining scheduled payments of principal and interest with respect
to such Note, including the balloon payment on the commencement of the Open Prepayment Date (assuming no other prepayments or
acceleration of the Mortgage Loan), determined by discounting such payments at the Discount Rate (as defined in the Mortgage Loan
Agreement), exceeds (2) the outstanding principal balance of such Note on such date immediately prior to such Prepayment.

 

“Prime
Rate” shall mean the “Prime Rate” in effect from time to time (as published in the “Money Rates”
section of The Wall Street Journal or, if such section or publication no longer is available, such other publication
as determined by the Note A-1 Holder in its reasonable discretion).

 

“Property
Advance” shall have the meaning assigned to such term in 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, any analogous concept
under the servicing agreement pursuant to which the Mortgage Loan is being serviced in accordance with the terms of this Agreement.

 

    
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“Qualified
Institutional Lender” shall mean each Initial Note A Holder, the Initial Note B-1 Holder, the Initial Note B-2 Holder,
the Initial Note B-3 Holder and the Initial Note B-4 Holder and the following:

 

(a)       
an entity Controlled (as defined below) by, or under common Control (as defined below) with, any one or more of the Initial Note
A Holders, the Initial Note B-1 Holder, the Initial Note B-2 Holder, the Initial Note B-3 Holder and the Initial Note B-4 Holder,
or

 

(b)      
one or more of the following:

 

(i)        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, in any
case, which satisfies the Eligibility Requirements, 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 investment advisor registered under the Investment Advisers Act of 1940 or
an institutional accredited investor under Regulation D, which regularly engages in the business of making or owning investments
of types similar to the Mortgage Loan or the related Note, which satisfies the Eligibility Requirements, or

 

(iii)      
a Qualified Trustee in connection with (A) a securitization of, (B) the creation of collateralized loan 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 at least two of the Rating Agencies which 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 (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 (a),
(b)(i), (b)(ii), (b)(v), (b)(vi) or (c) of this definition, or

 

(iv)      
an investment fund, limited liability company, limited partnership or general partnership in which a Permitted Fund Manager acts
as the general partner,

 

    
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managing member, or the fund manager responsible for the day to day management and operation of such investment
vehicle and provided that at least fifty percent (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 in clauses (b)(i), (ii) or (iv), which satisfies the Eligibility
Requirements;

 

(vi)      
a Person which is otherwise a Qualified Institutional Lender but which is acting in an agency capacity for a syndicate of lenders
where at least 51% of the lenders in such syndicate are otherwise Qualified Institutional Lenders under clauses (b)(i), (ii),
(iv) and (v) above; or

 

(c)       
any entity Controlled (as defined below) by, or under common Control (as defined below) with, any of the entities described in
clause (b)(i), (ii) or (v) above.

 

(d)      
any Person for which a Rating Agency Confirmation has been obtained.

 

For
purposes of this definition only, “Control” means 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” has the meaning correlative thereto).

 

“Qualified
Servicer” shall mean:

 

(i)
prior to the Lead Securitization Date, either (x) a mortgage finance institution, insurance company, bank or mortgage servicing
institution (A) organized and doing business under the laws of the United States or any state of the United States or the District
of Columbia, (B) authorized to transact business in the jurisdiction where each Mortgaged Properties are located, if and to the
extent required by applicable law to enable such institution to perform its obligations under the Interim Servicing Agreement
or, in the event that such institution is acting as a sub-servicer, under the applicable sub-servicing agreement, and otherwise
as contemplated hereby, and (C) (1) has a rating of at least “CMS2” (in the case of a master servicer) and “CSS2”
(in the case of a special servicer) in the case of Fitch, (2) is on S&P’s Select Servicer List as a U.S. Commercial
Mortgage Master Servicer or a U.S. Commercial Mortgage Special Servicer, as applicable, in the case of S&P, (3) in the case
of DBRS Morningstar, (i) the applicable master servicer or special servicer has a rating by DBRS Morningstar higher than or equal
to “MOR CS3” as a master servicer or special servicer, as applicable, or (ii) the applicable master servicer or special
servicer, as applicable, is currently acting as a master servicer or special servicer, as applicable, on a transaction-level basis
on a CMBS transaction currently rated by DBRS Morningstar that currently has securities outstanding and for which DBRS Morningstar
has not cited servicing concerns of the master servicer or special servicer, as applicable, as the sole or material factor in
any qualification, downgrade or withdrawal of the ratings (or placement on “watch status” in contemplation of a ratings
downgrade or withdrawal) of

 

    
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securities rated by DBRS Morningstar in a commercial mortgage-backed securitization transaction rated
by DBRS Morningstar and serviced by the applicable master servicer or special servicer, as applicable, prior to the time of determination,
(4) in the case of Moody’s, such servicer is acting as servicer for one or more loans included in a commercial mortgage
loan securitization that was rated by Moody’s within the twelve (12) month period prior to the date of determination, and
Moody’s 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 servicer as servicer of such commercial mortgage
loans, or (5) in the case of KBRA, KBRA has not cited servicing concerns of such 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 CMBS transaction serviced by such servicer prior to the time of determination, or
(y) as to which each of the Rating Agencies shall have delivered to the Trustee written confirmation to the effect that the
service by such entity as Servicer or Special Servicer, as the case may be, would not, in and of itself, result in a downgrade,
qualification or withdrawal of the then current ratings assigned to the securities issued under the Servicing Agreement, and

 

(ii)
from and after the Lead Securitization Date, the meaning assigned to such term or analogous term in the Lead Securitization Servicing
Agreement.

 

“Qualified
Trustee” shall mean (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 any 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 designated by the Lead Securitization Note Holder; provided, however, that
at any time during which any A Note or B Note is an asset of a Securitization, “Rating Agencies” or “Rating
Agency” shall mean the rating agencies that from time to time rate (and were engaged by the applicable depositor to so rate)
the securities issued in connection with such Securitization (and at the time of determination continue to do so).

 

“Rating
Agency Confirmation” shall have, at any time that any A Note or B Note is an asset of a Securitization, the meaning
assigned to such term or analogous term in the Servicing Agreement.

 

“Realized
Losses” mean any reduction in the Mortgage Loan Principal Balance that does not result in an accompanying payment of
principal to any of the Holders, which may

 

    
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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 Servicing Agreement, or
(ii) a reduction in the Mortgage Interest Rate or the Note Interest Rate for any Note in connection with a bankruptcy or similar
proceeding involving the Mortgage Loan Borrowers or a modification or amendment of the Mortgage Loan agreed to by the Servicer
in accordance with the terms of the Servicing Agreement that, as a result of the application of Section 7, results in the
application of principal to pay interest to one or more 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).

 

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

 

“REMIC”
shall have the meaning assigned to such term in Section 4(h).

 

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

 

“Remittance
Date” shall mean:

 

(i)       
with respect to each Standalone Note, and each Non-Standalone Note prior to the related Non-Lead Securitization, the “Servicer
Remittance Date” (or analogous term) as defined in the Lead Securitization Servicing Agreement; and

 

(ii)       with
respect to each Non-Standalone Note from and after its Non-Lead Securitization, if any, the earlier of (a) the “Servicer
Remittance Date” (or analogous term) as defined in the Lead Securitization Servicing Agreement or (b) the first Business
Day after the “determination date,” as such term or a similar term is defined in the related Non-Lead Securitization
Servicing Agreement (as long as such date is at least two Business Days after receipt of properly identified funds).

 

“REO
Proceeds” shall mean, with respect to any REO Property, all revenues received by the applicable Servicer with respect
to such REO Property or the Mortgage Loan, which do not constitute Liquidation Proceeds. From and after the Lead Securitization
Date, “REO Proceeds” shall have the meaning assigned to such term or any analogous term in the Lead Securitization
Servicing Agreement.

 

    
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“REO
Property” shall mean any Mortgaged Properties title to which has been acquired by the Servicer on behalf of the Holders
through foreclosure, deed-in-lieu of foreclosure or otherwise. From and after the Lead Securitization Date, “REO Property”
shall have the meaning assigned to such term or any analogous term in the Lead Securitization Servicing Agreement.

 

“Repurchase
Date” shall have the meaning assigned such term in Section 11.

 

“Repurchase
Option Notice” shall have the meaning assigned such term in Section 11.

 

“Required
Special Servicer Rating” shall mean with respect to a special servicer (i) in the case of Fitch, a rating of at least
“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 is acting as special servicer for one or
more loans included in a commercial mortgage loan securitization that was rated by Moody’s within the twelve (12) month
period prior to the date of determination, and Moody’s 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, (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, (a) such special
servicer has a rating by DBRS Morningstar higher than or equal to “MOR CS3” as special servicer, and (b) DBRS Morningstar
has not qualified, downgraded or withdrawn the then-current rating or ratings of one or more classes of CMBS certificates citing
servicing concerns with the special servicer as the sole or material factor in such rating action. The requirement of any rating
agency that is not a Rating Agency shall be disregarded.

 

“Reserve
Collateral” shall have the meaning assigned such term in Section 21(j).

 

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

 

“Securitization”
shall mean the Lead Securitization and any Non-Lead Securitization, as the context may require.

 

“Securitization
Trust” shall mean the Lead Securitization Trust or any trust formed in connection with the Securitization of any Non-Standalone
Note, as the context may require.

 

“Servicer”
shall mean (i) prior to the Lead Securitization Date, the Interim Servicer, and (ii) from and after the Lead Securitization Date,
the Master Servicer or the Special Servicer, as the context may require.

 

    
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“Servicing
Agreement” shall mean (i) prior to the Lead Securitization Date, the Interim Servicing Agreement, and (ii) from and
after the Lead Securitization Date, the Lead Securitization Servicing Agreement.

 

“Servicing
Fee” shall have the meaning assigned to such term in Section 4.

 

“Servicing
Fee Rate” shall mean the sum of: (i) 0.6 basis points (0.006%) per annum (which consists solely of the primary
servicing fee rate with respect to the Standalone Notes and the Non-Standalone Notes) and (ii)(A) with respect to the Standalone
Notes, 0.75 basis points (0.0075%) per annum (which consists of the master servicing fee rate with respect to the Standalone
Notes) and (B) with respect to the Non-Standalone Notes, a rate per annum payable to the applicable master servicer of
the related Non-Lead Securitization.

 

“Special
Servicer” shall have the meaning set forth in the recitals of this Agreement.

 

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

 

“Special
Servicing Fee” shall have the meaning assigned to such term in Section 4.

 

“Special
Servicing Fee Rate” shall mean an amount:

 

(i)
prior to the Lead Securitization Date, so long as the Mortgage Loan is a Specially Serviced Mortgage Loan, an amount equal to
the product of (A) 25 basis points (0.25%) per annum and (B) the Mortgage Loan Principal Balance; and

 

(ii)
from and after the Lead Securitization Date, the meaning assigned to such term or analogous term in the Lead Securitization Servicing
Agreement.

 

“Specially
Serviced Mortgage Loan” shall mean the Mortgage Loan if:

 

(i)
prior to the Lead Securitization Date, any of the following occurs: (a) the Mortgage Loan Borrowers fail to make a monthly debt
service payment for a period of 60 days after its Monthly Payment Date; (b) in the reasonable business judgment of the Servicer
(with the consent of the applicable Controlling Holder), exercised in accordance with Accepted Servicing Practices, there is an
imminent risk of an Event of Default consisting of a failure to make a monthly debt service payment which Event of Default is
likely to remain unremedied for a period of 60 days or more; (c) the Servicer has received notice or has actual knowledge
that the Mortgage Loan Borrowers have become the subject of any bankruptcy, insolvency or similar proceeding, admitted in writing
its inability to pay its debts as they come due or made an assignment for the benefit of creditors; (d) the Servicer has
received notice of a foreclosure or threatened foreclosure of any lien upon the Mortgaged Properties; (e) except with respect
to matters already addressed in clause (a) of this definition, the Servicer has received notice or has actual

 

    
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knowledge that
the Mortgage Loan Borrowers are in default beyond any applicable notice and/or grace periods in the performance or observance
of any of its obligations under the related Mortgage Loan Documents the failure of which to cure, in the reasonable business judgment
of the Servicer, exercised in accordance with Accepted Servicing Practices, materially and adversely affects the interests of
the Holders; or (f) a failure on the part of the Mortgage Loan Borrowers to make the Balloon Payment as and when the same becomes
due and payable.

 

The
period during which the Mortgage Loan is specially serviced shall end and the Mortgage Loan shall be a “Corrected Mortgage
Loan”: (1) with respect to the circumstances described in clause (a) above, when the Mortgage Loan Borrowers have
paid in full all payments due under the Mortgage Loan and has made three consecutive full and timely monthly debt service payments
under the terms of the Mortgage Loan or, if the Mortgage Loan is “worked out”, when the Mortgage Loan Borrowers have
made three consecutive full and timely monthly debt service payments under the terms of the Mortgage Loan as modified in connection
with such workout; (2) with respect to the circumstances described in clauses (b), (c) and (d) above, when such circumstances
cease to exist in the good faith judgment of the Servicer, or in the case of clause (b) above the related Event of Default does
not occur within sixty (60) days from the date of such determination; (3) with respect to the circumstances described in clause (e)
above, when the Mortgage Loan Borrowers have cured such default; or (4) with respect to the circumstances described in clause (f)
above, when the Mortgage Loan Borrowers have paid in full all payments due under the Mortgage Loan or, if the Mortgage Loan is
“worked out,” when the Mortgage Loan Borrowers have made three consecutive full and timely monthly debt service payments
under the terms of the Mortgage Loan as modified in connection with such workout; provided, in any case, that at that time
no other circumstance identified in clauses (a) through (f) above exists that would cause the Mortgage Loan to continue to
be characterized as a Specially Serviced Mortgage Loan; and

 

(ii)
from and after the Lead Securitization Date, the meaning given to such term or analogous term in the Lead Securitization Servicing
Agreement.

 

“Standalone
A Notes” shall mean the DBRI Standalone A Note, the BANA Standalone A Note, the JPMCB Standalone A Note and the 3650
Cal Bridge Standalone A Note.

 

“Standalone
Notes” shall mean the DBRI Standalone Notes, the BANA Standalone Notes, the JPMCB Standalone Notes and the 3650 Cal
Bridge Standalone Notes.

 

“Transfer”
shall have the meaning assigned such term in Section 18.

 

“Triggering
Event of Default” shall mean (i) any Event of Default with respect to an obligation of the Mortgage Loan Borrowers to
pay money due under the Mortgage Loan or (ii) any non-monetary Event of Default as to which the Mortgage Loan becomes a Specially
Serviced Mortgage Loan (which, for clarification, shall not include any imminent Event of Default (i.e., subclause (i)(b) of the
definition of Specially Serviced Mortgage Loan)). A

 

    
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Triggering Event of Default shall not exist to the extent a Note B Holder
is exercising its cure rights in accordance with Section 11(b) or prior to the expiration of any cure period granted pursuant
to Section 11(b).

 

“Trust
Fund Expenses” shall mean with respect to the Mortgage Loan, any unanticipated expenses and certain other default related
expenses incurred by any Securitization Trust (including, without limitation, all Property Advances (together with interest thereon
at the Advance Rate), all Administrative Advances (together with interest thereon at the Advance Rate) and all P&I Advances
(together with interest thereon at the rates specified in the Lead Securitization Servicing Agreement and the Non-Lead Securitization
Servicing Agreement applicable to each Note) and all additional trust fund expenses, to the extent not reimbursed by the Mortgage
Loan Borrowers or deemed to be a Nonrecoverable Property Advance) and all other amounts (such as indemnification payments) permitted
to be retained, reimbursed or withdrawn by (or remitted to) the Master Servicer, the Special Servicer, the Trustee, the Certificate
Administrator or any operating advisor, as applicable, from the Collection Account or the Distribution Account pursuant to the
Lead Securitization Servicing Agreement or permitted to be reimbursed to any of the parties to a Non-Lead Securitization Servicing
Agreement pursuant to the terms thereof. Any fees, costs or expenses relating to any other mortgage loan included in a Securitization
Trust with the related Non-Standalone Note(s) shall not be considered Trust Fund Expenses.

 

“Trustee”
shall have the meaning assigned to such term in the recitals of this Agreement.

 

“Updated
Appraisal” shall mean an Appraisal of the Mortgaged Properties or related REO Property, as the case may be, conducted
subsequent to any Appraisal performed on or prior to the date of this Agreement by an Appraiser, selected by the applicable Servicer,
in accordance with MAI standards, the costs of which shall be paid as a Property Advance by the Lead Securitization Note Holder
or applicable Servicer.

 

“Workout
Fee” shall mean (i) prior to the Lead Securitization Date, a fee equal to 50 basis points (0.50%) of each collection
of interest and principal (including scheduled payments, prepayments, Balloon Payments and payments at maturity) received on a
Corrected Mortgage Loan, and (ii) from and after the Lead Securitization Date, the meaning assigned to such term in the Lead Securitization
Servicing Agreement.

 

The
Workout Fee shall be payable out of each collection of interest and principal (including scheduled payments, prepayments, Balloon
Payments and payments at maturity) received on the Mortgage Loan for so long as the Mortgage Loan does not subsequently become
a Specially Serviced Mortgage Loan. The Workout Fee with respect to the Mortgage Loan shall cease to be payable if the Mortgage
Loan subsequently becomes a Specially Serviced Mortgage Loan or if the Mortgaged Properties become an REO Property; provided
that, if the Mortgage Loan thereafter ceases to be a Specially Serviced Mortgage Loan, a new Workout Fee shall become payable
to the applicable Servicer that had responsibility for servicing the Mortgage Loan at such time.

 

    
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2.        
Subordination of B Notes. Each B Note and the right of each Note B Holder to receive payments with respect to its respective
B Note shall, subject to the provisions of this Agreement, at all times be junior, subject and subordinate to each A Note and
the rights of each Note A Holder to receive payments with respect to its respective A Note.

 

3.        
Intentionally Omitted.

 

4.        
Administration of the Mortgage Loan. (a) From and after the date hereof and prior to the Lead Securitization Date, the
Interim Servicer shall administer and service the Mortgage Loan consistent with the terms of this Agreement, the Interim Servicing
Agreement, the Mortgage Loan Documents, Accepted Servicing Practices and applicable law.

 

(b)      
From and after the Lead Securitization Date, the administration and servicing of the Mortgage Loan shall be governed by this Agreement
and the Lead Securitization Servicing Agreement, provided that:

 

(i)       
except as expressly provided for in this Agreement, the rights and remedies of any Note B Holder under the Lead Securitization
Servicing Agreement shall not be materially impaired compared to the rights and remedies of such Note B Holder set forth herein
(and the obligations of any Note B Holder under the Lead Securitization Servicing Agreement shall not be materially increased
compared to the obligations of such Note B Holder set forth herein),

 

(ii)      
the provisions of the Lead Securitization Servicing Agreement may differ from this Agreement to the extent requested by the Rating
Agencies, the subordinate bond buyers or any of the other parties thereto and necessary in order that each Initial Holder and
its Affiliates obtain accounting “sale” treatment for its respective Note under FAS 140, provided that, in all cases,
any such differences between this Agreement and the Lead Securitization Servicing Agreement shall not have a material adverse
effect on any of the rights, remedies or protections granted to the Holders under this Agreement (without giving effect to any
provision of this Agreement which states that a term shall have “the meaning assigned to such term in the Servicing Agreement,”
or be “subject to the Servicing Agreement” or similar phrases),

 

(iii)     
from and after the Lead Securitization Date, such Lead Securitization Servicing Agreement shall not be modified in any manner
materially adverse to a Holder without the prior written consent of such Holder, and

 

(iv)    
the Lead Securitization Servicing Agreement shall contain terms and conditions as are set forth in Section 40(c) of this
Agreement and such additional provisions that are customary for securitization transactions involving assets similar to the Mortgage
Loan and that are otherwise (i) required by the Code relating to the tax elections of any Securitization Trust, (ii) required
by law or changes in any law, rule or regulation or (iii) generally required by the Rating Agencies in connection with the issuance
of ratings in securitizations similar to the Lead Securitization.

 

    
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(c)      
The Servicer shall distribute (or cause to be distributed) to the Holders all payments due to the Holders in accordance with Section 5
and Section 6 hereof; provided, however, prior to calculating any amount of interest or principal
due on such date to the Holders, the Servicer shall reduce the Note Principal Balances of the B Notes pro rata (based on
their respective outstanding Note Principal Balances) (in each case, not below zero) by any Realized Loss with respect to the
Mortgage Loan, and after the Note Principal Balance of each B Note has been reduced to zero, the Servicer shall reduce the Note
Principal Balances of the A Notes pro rata (based on their respective outstanding Note Principal Balances) (in each case,
not below zero) by any Realized Loss with respect to the Mortgage Loan.

 

(d)      
In consideration for servicing the Mortgage Loan (inclusive of each Note) a servicing fee shall accrue at a rate not to exceed
the applicable Servicing Fee Rate on the sum of the outstanding Note A Principal Balance of the Standalone A Notes and the Non-Standalone
Notes, and the outstanding Note B Principal Balance, as applicable (the “Servicing Fee”). The Servicing Fee
shall be paid on the same interest accrual basis and for the same period of time for which interest is paid on the Mortgage Loan,
and shall be paid in accordance with the priorities set forth in Section 5 and Section 6.

 

(e)       
In consideration for special servicing the Mortgage Loan (inclusive of each Note) a special servicing fee shall accrue at a rate
not to exceed the Special Servicing Fee Rate on the sum of the outstanding Note A Principal Balance and the outstanding Note B
Principal Balance (the “Special Servicing Fee”). The Special Servicing Fee shall be payable to the Special
Servicer if the Mortgage Loan shall become a Specially Serviced Mortgage Loan, for so long as the Mortgage Loan remains a Specially
Serviced Mortgage Loan. Subject to any liquidation set forth in the Lead Securitization Servicing Agreement, the Liquidation Fee
shall be payable to the Special Servicer upon receipt of Liquidation Proceeds. For any period during which the provisions of Section 6
apply, any Workout Fees or Liquidation Fees shall be paid from funds available for distribution prior to the distribution
of funds to the Holders in accordance with Section 6 (it being agreed that a Workout Fee and a Liquidation Fee shall
not be payable with respect to the same payment or with respect to the same period of time, or otherwise simultaneously or duplicatively).
The Holders acknowledge that pursuant to the Servicing Agreement, the Servicers may be entitled to receive Additional Servicing
Compensation. To the extent any such Additional Servicing Compensation is actually received by a Servicer in accordance with the
Servicing Agreement, such Servicer shall be entitled to retain the same. In no event, however, shall any amounts relating to Additional
Servicing Compensation that are not otherwise actually received by a Servicer (or its subservicer) be deducted from any distributions
to any Holder pursuant to Section 5 or Section 6, as applicable.

 

(f)       
Notwithstanding anything to the contrary contained herein, if each of the Standalone Notes ceases to be an asset of the Lead Securitization
Trust, the provisions of this Agreement shall apply in their entirety, and each Holder hereby agrees that the Mortgage Loan shall
be serviced pursuant to this Agreement. In such event, all references herein to the “Servicing Agreement” and to “from
and after the Lead Securitization Date” and any ancillary provisions relating thereto shall be deemed to be inoperative
and of no further force and effect; provided, the actual servicing of the Mortgage Loan under this Agreement shall be performed
by

 

    
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a successor Master Servicer appointed by the Lead Securitization Note Holder and a successor Special Servicer shall be appointed
by the Controlling Holder, both of which replacement Servicers shall be Qualified Servicers and shall be reasonably acceptable
to each of the Holders; provided, further, that until a replacement servicing agreement, if necessary, 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 were 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; provided, however, that
such servicer shall have no obligation to make P&I Advances or Administrative Advances. Any such entity acting as a successor
Master Servicer or successor Special Servicer of the Mortgage Loan pursuant to the proviso of the preceding sentence will be required
to perform such servicing in accordance with Accepted Servicing Practices and the provisions of this Agreement.

 

(g)      
Notwithstanding anything to the contrary contained herein, in accordance with this Agreement and the Lead Securitization Servicing
Agreement, the Lead Securitization Servicing Agreement shall provide that the Servicers are required to service and administer
the Mortgage Loan in accordance with Accepted Servicing Practices.

 

(h)      
If any Note is included as an asset of a real estate mortgage investment conduit (a “REMIC”), within the meaning
of Section 860D(a) of the Internal Revenue Code of 1986, as amended (the “Code”) (notice of which shall
be given by the related Holder to the other Holders within three (3) Business Days of the “startup day”, within the
meaning of Section 860(G)(a)(9) of the Code, of the related REMIC), then, any provision of this Agreement to the contrary
notwithstanding: (i) the Mortgage Loan shall be administered such that each Note qualifies 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 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 interests of the Holders therein shall at all times qualify as “foreclosure property” within the meaning
of Section 860G(a)(8) of the Code and (iii) the related Holder may not modify, waive or amend any provision of the Mortgage
Loan, consent to or withhold consent from any action of the Mortgage Loan Borrowers, or exercise or refrain from exercising any
powers or rights which the related Holder 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 earliest startup day of any REMIC which includes the related
Note (or any portion of such Note). The Holders agree that the provisions of this Section 4(h) shall be effected by compliance
by the related Holder or its assignee with this Agreement or the Servicing Agreement or any other agreement which governs the
administration of the Mortgage Loan or such Holder’s interest therein. All costs and expenses of compliance with this Section
4(h), to the extent that such costs and expenses relate to administration of a REMIC or to any determination respecting the
amount,

 

    
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payment or avoidance of any tax under the REMIC Provisions or the actual payment of any REMIC tax or expense, shall be
borne by the Holders.

 

5.         
Payments Prior to a Triggering Event of Default. If no Triggering Event of Default shall have occurred, or if a Triggering
Event of Default has occurred but is no longer then continuing, then all amounts tendered by the Mortgage Loan Borrowers or otherwise
available for payment on the Mortgage Loan (including, without limitation, payments received in connection with any guaranty or
indemnity agreement), whether received in the form of monthly debt service payments, Prepayments, Balloon Payments, Liquidation
Proceeds (other than any Repurchase Price), Penalty Charges, Cure Payments, proceeds under title, hazard or other insurance policies
or awards or settlements in respect of condemnation proceedings or similar exercise of the power of eminent domain (other than
any amounts for required reserves or escrows required by the Mortgage Loan Documents and proceeds, awards or settlements to be
applied to the restoration or repair of the Mortgaged Properties or released to the Mortgage Loan Borrowers in accordance with
Accepted Servicing Practices or the Mortgage Loan Documents) shall be distributed by the Servicer and applied in the following
order of priority (net of amounts payable or reimbursable to the Master Servicer or Special Servicer in accordance with the Lead
Securitization Servicing Agreement) (and payments shall be made at such times as are set forth herein):

 

(i)        
first, (A) initially, to the Holders of the Standalone Notes (or the Master Servicer or the Trustee of the Lead
Securitization) and, if applicable, to the Non-Standalone Note(s) (or the master servicers of the related Non-Lead Securitizations)
on a pro rata and pari passu basis (based on their respective outstanding Note Principal Balances), up to the amount
of any Nonrecoverable Property Advances (or in the case of a master servicer of any Non-Lead Securitization, if applicable, its
pro rata share of any Nonrecoverable Property Advances previously reimbursed to the Master Servicer or the Trustee from
general collections of the related Non-Lead Securitization Trust) that remain unreimbursed (together with interest thereon at
the applicable Advance Rate), (B) then, to the Note A Holders (or the Master Servicer or the Trustee and, if applicable,
the master servicers of the related Non-Lead Securitizations), on a pro rata and pari passu basis (based on their
respective outstanding Note Principal Balances), up to the amount of any Nonrecoverable P&I Advances, as applicable, that
remain unreimbursed (together with interest thereon at the applicable Advance Rate or analogous advance rate under such Non-Lead
Securitization), (C) then, to the Note B Holders (or the Master Servicer or the Trustee) on a pro rata and pari passu
basis (based on their respective outstanding Note Principal Balances), up to the amount of any Nonrecoverable P&I Advances
that remain unreimbursed (together with interest thereon at the applicable Advance Rate) and (D) finally, to the Standalone
Note Holders (or the Master Servicer or the Trustee of the Lead Securitization), on a pro rata and pari passu basis
(based on the outstanding Note Principal Balances of the Standalone Notes), up to the amount of any Nonrecoverable Administrative
Advances that remain unreimbursed (together with interest thereon at the applicable Advance Rate);

 

    
	33 
	Co-Lender Agreement
	(Cambridge Crossing – 350 and 450 Water Street)

     

    

 

(ii)      
second, to the Holders of the Standalone Notes (or any Servicer or Trustee (if any), as applicable), on a pro rata
and pari passu basis (based on the unreimbursed amount of costs paid or payable), up to the amount of any unreimbursed
Costs paid or any Costs currently payable or paid or advanced by such Holders (or any Servicer or the Trustee (if any), as applicable),
with respect to the Mortgage Loan pursuant to this Agreement or the Servicing Agreement, including, without limitation, unreimbursed
Property Advances and Administrative Advances and interest thereon at the applicable Advance Rate, to the extent such Costs, Property
Advances and Administrative Advances and interest thereon are then payable or reimbursable hereunder, or, after the Lead Securitization
Date, under the Lead Securitization Servicing Agreement;

 

(iii)     
third, (A) initially, to each Note A Holder and each Note B Holder (or the
Master Servicer), the applicable accrued and unpaid Servicing Fee on the related A Note or related B Note (without duplication
of any portion of the Servicing Fee paid by Mortgage Loan Borrowers), as the case may be, and (B) then, to each Note A
Holder and each Note B Holder (or the Special Servicer), any Special Servicing Fees, Workout Fees and Liquidation Fees earned
by it with respect to the Mortgage Loan under this Agreement or the Servicing Agreement;

 

(iv)      
fourth, pari passu to each Note A Holder, up to an amount equal to the accrued
and unpaid interest on the Note Principal Balance of its A Note at its Net Note Interest Rate, with the aggregate amount so payable
to be allocated between the Note A Holders on a pro rata basis according to the amount of accrued and unpaid interest due
to each such Note A Holder;

 

(v)      
fifth, pari passu, in respect of principal, to the Note A Holders all payments
and prepayments of amounts allocable to the reduction of the principal balance of the Mortgage Loan (including amounts allocable
as principal on the Mortgage Loan after the Anticipated Repayment Date and any portion of casualty or condemnation proceeds received
and allocable as principal on the Mortgage Loan) in accordance with the Mortgage Loan Agreement until the Note Principal Balances
of the A Notes have been reduced to zero, with the aggregate amount so payable to be allocated between the Note A Holders on a
pro rata basis (based on their respective outstanding Note Principal Balances);

 

(vi)     
sixth, if the proceeds of any foreclosure sale or any liquidation of the Mortgage Loan or the Mortgaged Properties exceed
the amounts required to be applied in accordance with the foregoing clauses (i)-(v), pari passu 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(c) or Section 7(a), plus interest thereon at the related Net Note Interest Rate
compounded monthly from the date the related Realized Loss was so allocated to such Note A Holder, with the aggregate amount so
payable to be allocated between the Note A Holders on a pro rata basis according to the amount of Realized Losses previously
allocated to each such Note A Holder;

 

    
	34 
	Co-Lender Agreement
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(vii)   
seventh, to the Note B Holders, if any, whose B Notes are not included in the Lead Securitization (or any Servicer or Trustee
(if any), as applicable), on a pro rata and pari passu basis (based on the unreimbursed amount of costs paid or
payable), up to the amount of any unreimbursed Costs paid or any Costs currently payable or paid or advanced by such Note B Holders
(or any Servicer or the Trustee (if any), as applicable), with respect to the Mortgage Loan pursuant to this Agreement or the
Servicing Agreement, including, without limitation, unreimbursed Property Advances and Administrative Advances and interest thereon
at the applicable Advance Rate, to the extent such Costs, Property Advances and Administrative Advances and interest thereon are
then payable or reimbursable hereunder, or, after the Lead Securitization Date, under the Lead Securitization Servicing Agreement,
and any Cure Payment made by such Note B Holders pursuant to Section 11(b) hereof;

 

(viii)   
eighth, pari passu, to each Note B Holder, up to an amount equal to the accrued and unpaid interest on the Note
Principal Balance of its B Note at its Net Note Interest Rate, with the aggregate amount so payable to be allocated between the
Note B Holders on a pro rata basis according to the amount of accrued and unpaid interest due to each such Note B Holder;

 

(ix)     
ninth, pari passu, in respect of principal, to the Note B Holders all payments
and prepayments of amounts allocable to the reduction of the principal balance of the Mortgage Loan (including amounts allocable
as principal on the Mortgage Loan after the Anticipated Repayment Date and any portion of casualty or condemnation proceeds received
and allocable as principal on the Mortgage Loan) in accordance with the Mortgage Loan Agreement until the Note Principal Balances
of the B Notes have been reduced to zero, with the aggregate amount so payable to be allocated between the Note B Holders on a
pro rata basis (based on their respective outstanding Note Principal Balances);

 

(x)      
tenth, if the proceeds of any foreclosure sale or any liquidation of the Mortgage Loan or the Mortgaged Properties exceed
the amounts required to be applied in accordance with the foregoing clauses (i)-(ix), pari passu, to each Note B Holder,
an amount equal to the aggregate of unreimbursed Realized Losses previously allocated to such Note B Holder in accordance with
the terms of Section 4(c) or Section 7(a), plus interest thereon at the related Net Note Interest Rate
compounded monthly from the date the related Realized Loss was so allocated to such Note B Holder, with the aggregate amount so
payable to be allocated between the Note B Holders on a pro rata basis according to the amount of Realized Losses previously
allocated to each such Note B Holder;

 

(xi)     
eleventh, any interest accrued at the Mortgage Default Rate on the Mortgage Loan Principal Balance to the extent such default
interest amount is (i) actually paid by the Mortgage Loan Borrowers, (ii) in excess of interest accrued on the Mortgage Loan Principal
Balance at the Mortgage Interest Rate and (iii) not required to be paid to the Master Servicer, the Trustee or the Special Servicer,
or the master servicer or trustee

 

    
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	Co-Lender Agreement
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under a Non-Lead Securitization Servicing Agreement, as provided in Section 9(d), pari
passu, to each Note A Holder and each Note B Holder in an amount calculated on the Note Principal Balance of the related Note
at the excess of (x) the Note Default Interest Rate for such Note over (y) the Note Interest Rate for such Note, with the aggregate
amount so payable to be allocated between the Holders on a pro rata basis according to the respective amounts due to them
under this clause;

 

(xii)    
twelfth, pro rata and pari passu, to each Note A Holder any Prepayment Charge, to the extent actually paid
by the Mortgage Loan Borrowers and allocable to any prepayment of the related A Note under the Mortgage Loan Documents pro
rata based on the Prepayment Charge Entitlement of such A Note, with the aggregate amount so payable to be allocated between
the Note A Holders according to the respective amounts due to them under this clause;

 

(xiii)   
thirteenth, pro rata and pari passu, to each Note B Holder any Prepayment Charge, to the extent actually
paid by the Mortgage Loan Borrowers and allocable to any prepayment of the related B Note under the Mortgage Loan Documents pro
rata based on the Prepayment Charge Entitlement of such B Note, with the aggregate amount so payable to be allocated between
the Note B Holders according to the respective amounts due to them under this clause;

 

(xiv)   
fourteenth, pari passu, to each Note A Holder, up to an amount equal to the unpaid ARD Interest accrued on the Note
Principal Balance of its A Note, with the aggregate amount so payable to be allocated between
the Note A Holders on a pro rata basis according to the amount of accrued and unpaid ARD Interest due to each such Note
A Holder;

 

(xv)     
fifteenth, to each Note B Holder, up to an amount equal to the unpaid ARD Interest accrued on the Note Principal Balance
of its B Note with the aggregate amount so payable to be allocated between the Note B Holders on a pro rata basis according
to the amount of accrued and unpaid ARD Interest due to each such Note B Holder;

 

(xvi)   
sixteenth, pro rata and pari passu (in the case of Penalty Charges, only to the extent not required to be
paid to the Master Servicer, the Trustee or the Special Servicer as provided in Section 9(d) or in the Lead Securitization
Servicing as contemplated by Section 9(e) or the master servicer or trustee under a Non-Lead Securitization Servicing Agreement
as provided in Section 9(d) and/or in the Non-Lead Securitization Servicing as contemplated by Section 9(e)), to
each Note A Holder and each Note B Holder (or any Servicer or Trustee (if any), as applicable, on its behalf) its Percentage Interest
of any assumption fees and Penalty Charges, in each case to the extent actually paid by the Mortgage Loan Borrowers;

 

(xvii)  
seventeenth, any excess amount not otherwise applied pursuant to the foregoing clauses (i) through (xvi)
of this Section 5, to the Holders pro rata and pari passu in accordance with their respective initial
Percentage Interests set forth in the Mortgage Loan Schedule.

 

    
	36 
	Co-Lender Agreement
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If
any Note (or portion thereof) has been defeased, the foregoing provisions of this Section 5 will apply only to the non-defeased
Notes (or portions thereof). Any Note (or portion thereof) that has been defeased will be repaid solely from the proceeds of the
related defeasance collateral.

 

To
the extent that the Mortgage Loan Borrowers pay any Servicing Fees pursuant to the Mortgage Loan Agreement or any modification
or amendment thereof, such fees shall be applied to the payment of the Servicing Fee or the Special Servicing Fee, Workout Fee
and Liquidation Fee, as applicable, pursuant to clause (iii) above, and the amounts paid on account of interest to the Holders
under clauses (iv) and (viii) above for the applicable Remittance Date shall be adjusted accordingly. Notwithstanding clause (xvi)
above, to the extent that the Mortgage Loan Borrowers actually pay any assumption fees, such assumption fees otherwise allocable
to the Holders instead shall be payable as Additional Servicing Compensation as provided in the Lead Securitization Servicing
Agreement.

 

6.         
Payments Following a Triggering Event of Default.

 

(a)       
After the occurrence of a Triggering Event of Default and for so long as such Triggering Event of Default is continuing, all amounts
tendered by the Mortgage Loan Borrowers or otherwise available for payment of the Mortgage Loan (including, without limitation,
payments received in connection with any guaranty or indemnity agreement), whether received in the form of monthly debt service
payments, Prepayments, Balloon Payments, Liquidation Proceeds (other than any Repurchase Price), Penalty Charges, Cure Payments,
proceeds under title, hazard or other insurance policies or awards or settlements in respect of condemnation proceedings or similar
exercise of the power of eminent domain (other than any amounts for required reserves or escrows required by the Mortgage Loan
Documents and proceeds, awards or settlements to be applied to the restoration or repair of the Mortgaged Properties or released
to the Mortgage Loan Borrowers in accordance with Accepted Servicing Practices or the Mortgage Loan Documents) shall be applied
in the following order of priority (net of amounts payable or reimbursable to the Master Servicer or Special Servicer in accordance
with the Lead Securitization Servicing Agreement) (and payments shall be made at such times as are set forth herein):

 

(i)        
first, (A) initially, to the Holders of the Standalone Notes (or the Master Servicer or the Trustee of the Lead
Securitization) and, if applicable, to the Non-Standalone Note(s) (or the master servicers of the related Non-Lead Securitizations)
on a pro rata and pari passu basis (based on their respective outstanding Note Principal Balances), up to the amount
of any Nonrecoverable Property Advances (or in the case of a master servicer of any Non-Lead Securitization, if applicable, its
pro rata share of any Nonrecoverable Property Advances previously reimbursed to the Master Servicer or the Trustee from
general collections of the related Non-Lead Securitization Trust) that remain unreimbursed (together with interest thereon at
the applicable Advance Rate), (B) then, to the Note A Holders (or the Master Servicer or the Trustee and, if applicable,
the master servicers of the related Non-Lead Securitizations), on a pro rata and pari passu basis (based on their
respective outstanding Note Principal Balances), up to the amount of any Nonrecoverable P&I Advances, as applicable, that
remain unreimbursed (together

 

    
	37 
	Co-Lender Agreement
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with interest thereon at the applicable Advance Rate or analogous advance rate under such Non-Lead
Securitization), (C) then, to the Note B Holders (or the Master Servicer or the Trustee) on a pro rata and pari passu
basis (based on their respective outstanding Note Principal Balances), up to the amount of any Nonrecoverable P&I Advances
that remain unreimbursed (together with interest thereon at the applicable Advance Rate) and (D) finally, to the Standalone
Note Holders (or the Master Servicer or the Trustee of the Lead Securitization), on a pro rata and pari passu basis
(based on the outstanding Note Principal Balances of the Standalone Notes), up to the amount of any Nonrecoverable Administrative
Advances that remain unreimbursed (together with interest thereon at the applicable Advance Rate);

 

(ii)      
second, to the Holders of the Standalone Notes (or any Servicer or Trustee (if any), as applicable), on a pro rata
and pari passu basis (based on the unreimbursed amount of costs paid or payable), up to the amount of any unreimbursed
Costs paid or any Costs currently payable or paid or advanced by such Holders (or any Servicer or the Trustee (if any), as applicable),
with respect to the Mortgage Loan pursuant to this Agreement or the Servicing Agreement, including, without limitation, unreimbursed
Property Advances and Administrative Advances and interest thereon at the applicable Advance Rate, to the extent such Costs, Property
Advances and Administrative Advances and interest thereon are then payable or reimbursable hereunder, or, after the Lead Securitization
Date, under the Lead Securitization Servicing Agreement;

 

(iii)      
third, (A) initially, to each Note A Holder and each Note B Holder (or the
Master Servicer), the applicable accrued and unpaid Servicing Fee on the related A Note or related B Note (without duplication
of any portion of the Servicing Fee paid by Mortgage Loan Borrowers), as the case may be, and (B) then, to each Note A
Holder and each Note B Holder (or the Special Servicer), any Special Servicing Fees, Workout Fees and Liquidation Fees earned
by it with respect to the Mortgage Loan under this Agreement or the Servicing Agreement;

 

(iv)      
fourth, pari passu to each Note A Holder, up to an amount equal to the accrued
and unpaid interest on the Note Principal Balance of its A Note at its Net Note Interest Rate, with the aggregate amount so payable
to be allocated between the Note A Holders on a pro rata basis according to the amount of accrued and unpaid interest due to each
such Note A Holder;

 

(v)      
fifth, pari passu to each Note B Holder, up to an amount equal to the accrued
and unpaid interest on the Note Principal Balance of its B Note at its Net Note Interest Rate, with the aggregate amount so payable
to be allocated between the Note B Holders on a pro rata basis according to the amount of accrued and unpaid interest due
to each such Note B Holder;

 

(vi)     
sixth, pari passu, in respect of principal, to the Note A Holders, all remaining
funds until the Note Principal Balances of the A Notes have been reduced to

 

    
	38 
	Co-Lender Agreement
	(Cambridge Crossing – 350 and 450 Water Street)

     

    

 

 zero, with the aggregate amount so payable to be allocated
between the Note A Holders on a pro rata basis (based on their respective outstanding Note Principal Balances);

 

(vii)    
seventh, if the proceeds of any foreclosure sale or any liquidation of the Mortgage Loan or the Mortgaged Properties exceed
the amounts required to be applied in accordance with the foregoing clauses (i)-(vi), pari passu 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(c) or Section 7(a), plus interest thereon at the related Net Note Interest Rate compounded
monthly from the date the related Realized Loss was so allocated to such Note A Holder, with the aggregate amount so payable to
be allocated between the Note A Holders on a pro rata basis according to the amount of Realized Losses previously allocated
to each such Note A Holder;

 

(viii)  
eighth, to the Note B Holders, if any, whose B Notes are not included in the Lead Securitization (or any Servicer or Trustee
(if any), as applicable), on a pro rata and pari passu basis (based on the unreimbursed amount of costs paid or
payable), up to the amount of any unreimbursed Costs paid or any Costs currently payable or paid or advanced by such Note B Holders
(or any Servicer or the Trustee (if any), as applicable), with respect to the Mortgage Loan pursuant to this Agreement or the
Servicing Agreement, including, without limitation, unreimbursed Property Advances and Administrative Advances and interest thereon
at the applicable Advance Rate, to the extent such Costs, Property Advances and Administrative Advances and interest thereon are
then payable or reimbursable hereunder, or, after the Lead Securitization Date, under the Lead Securitization Servicing Agreement,
and any Cure Payment made by such Note B Holders pursuant to Section 11(b) hereof;

 

(ix)      
ninth, pari passu, in respect of principal, to the Note B Holders, all remaining
funds until the Note Principal Balances of the B Notes have been reduced to zero, with the aggregate amount so payable to be allocated
between the Note B Holders on a pro rata basis (based on their respective outstanding Note Principal Balances);

 

(x)      
tenth, if the proceeds of any foreclosure sale or any liquidation of the Mortgage Loan or the Mortgaged Properties exceed
the amounts required to be applied in accordance with the foregoing clauses (i)-(ix), pari passu, to each Note B Holder,
an amount equal to the aggregate of unreimbursed Realized Losses previously allocated to such Note B Holder in accordance with
the terms of Section 4(c) or Section 7(a), plus interest thereon at the related Net Note Interest Rate compounded
monthly from the date the related Realized Loss was so allocated to such Note B Holder, with the aggregate amount so payable to
be allocated between the Note B Holders on a pro rata basis according to the amount of Realized Losses previously allocated to
each such Note B Holder;

 

(xi)      
eleventh, pro rata and pari passu, to each Note A Holder any Prepayment Charge, to the extent actually paid
by the Mortgage Loan Borrowers and allocable to any

 

    
	39 
	Co-Lender Agreement
	(Cambridge Crossing – 350 and 450 Water Street)

     

    

 

prepayment of the related A Note under the Mortgage Loan Documents pro
rata based on the Prepayment Charge Entitlement of such A Note, with the aggregate amount so payable to be allocated between
the Note A Holders according to the respective amounts due to them under this clause;

 

(xii)    
twelfth, pro rata and pari passu, to each Note B Holder any Prepayment Charge, to the extent actually paid
by the Mortgage Loan Borrowers and allocable to any prepayment of the related B Note under the Mortgage Loan Documents pro
rata based on the Prepayment Charge Entitlement of such B Note, with the aggregate amount so payable to be allocated between
the Note B Holders according to the respective amounts due to them under this clause;

 

(xiii)   
thirteenth, pari passu, to each Note A Holder, up to an amount equal to the unpaid ARD Interest accrued on the Note
Principal Balance of its A Note, with the aggregate amount so payable to be allocated between
the Note A Holders on a pro rata basis according to the amount of accrued and unpaid ARD Interest due to each such Note
A Holder;

 

(xiv)    
fourteenth, to each Note B Holder, up to an amount equal to the unpaid ARD
Interest accrued on the Note Principal Balance of its B Note with the aggregate amount so payable to be allocated between the
Note B Holders on a pro rata basis according to the amount of accrued and unpaid ARD Interest due to each such Note B Holder;

 

(xv)     
fifteenth, any interest accrued at the Mortgage Default Rate on the Mortgage Loan Principal Balance to the extent such
default interest amount is (i) actually paid by the Mortgage Loan Borrowers, (ii) in excess of interest accrued on the Mortgage
Loan Principal Balance at the Mortgage Interest Rate and (iii) not required to be paid to the Master Servicer, the Trustee or
the Special Servicer, or the master servicer or trustee under a Non-Lead Securitization Servicing Agreement, as provided in Section
9(d), pari passu, to each Note A Holder and each Note B Holder in an amount calculated on the Note Principal Balance
of the related Note at the excess of (x) the Note Default Interest Rate for such Note over (y) the Note Interest Rate for such
Note, with the aggregate amount so payable to be allocated between the Holders on a pro rata basis according to the respective
amounts due to them under this clause;

 

(xvi)   
sixteenth, pro rata and pari passu (in the case of Penalty Charges, only to the extent not required to be
paid to the Master Servicer, the Trustee or the Special Servicer as provided in Section 9(d) or in the Lead Securitization
Servicing as contemplated by Section 9(e) or the master servicer or trustee under a Non-Lead Securitization Servicing Agreement
as provided in Section 9(d) and/or in the Non-Lead Securitization Servicing as contemplated by Section 9(e)), to
each Note A Holder and each Note B Holder (or any Servicer or Trustee (if any), as applicable, on its behalf) its Percentage Interest
of any assumption fees and Penalty Charges, in each case to the extent actually paid by the Mortgage Loan Borrowers; and

 

    
	40 
	Co-Lender Agreement
	(Cambridge Crossing – 350 and 450 Water Street)

     

    

 

(xvii)  
seventeenth, any excess amount not otherwise applied pursuant to the foregoing clauses (i) through (xvi) of this Section 6
will be distributed pro rata to the Holders in accordance with their respective initial Percentage Interests set forth
in the Mortgage Loan Schedule.

 

If
any Note (or portion thereof) has been defeased, the foregoing provisions of this Section 6 will apply only to the non-defeased
Notes (or portions thereof). Any Note (or portion thereof) that has been defeased will be repaid solely from the proceeds of the
related defeasance collateral.

 

To
the extent that the Mortgage Loan Borrowers pay any Servicing Fees pursuant to the Mortgage Loan Agreement or any modification
or amendment thereof, such fees shall be applied to the payment of the Servicing Fee or the Special Servicing Fee, Workout Fee
and Liquidation Fee, as applicable, pursuant to clause (iii) above, and the amounts paid on account of interest to the Holders
under clauses (iv) and (v) above for the applicable Remittance Date shall be adjusted accordingly. Notwithstanding clause (xvi)
above, to the extent that the Mortgage Loan Borrowers actually pay any assumption fees, such assumption fees otherwise allocable
to the Holders instead shall be payable as Additional Servicing Compensation as provided in the Lead Securitization Servicing
Agreement.

 

(b)      
Following any period during which the terms of this Section 6 are in effect, in the event that the Mortgage Loan becomes
a Corrected Mortgage Loan, or if the applicable Triggering Event of Default is no longer existing, or if the Mortgage Loan is
restructured in connection with a workout such that the Mortgage Loan is no longer a Specially Serviced Mortgaged Loan and, as
restructured, is transferred back to the Servicer and the applicable Triggering Event of Default is no longer continuing, then
the terms of Section 5 hereof shall again be in effect, subject, however, to the terms of Section 7 hereof.

 

7.         
Workout. (a) Notwithstanding anything to the contrary contained herein, but subject to the terms and conditions of the
Servicing Agreement and Section 20 and Section 21 of this Agreement, and the obligation to act in accordance
with Accepted Servicing Practices, if any applicable Servicer in connection with a workout or proposed workout of the Mortgage
Loan, modifies the terms thereof such that (i) the Mortgage Loan Principal Balance is decreased, (ii) the Mortgage Interest
Rate (or the Note Interest Rate for any Note) is reduced, (iii) payments of interest or principal on the Mortgage Loan are
waived, reduced or deferred (other than due solely to an extension of the Maturity Date (that is not a forbearance) pursuant to
an executed extension agreement between Lenders and the Mortgage Loan Borrowers, so long as no other modification under this Section
7 has occurred), or (iv) any other adjustment is made to any of the payment terms of the Mortgage Loan, all payments
to each Note A Holder pursuant to Section 5 and Section 6, as applicable, shall be made as though such
workout did not occur, with the payment terms of Note A remaining the same as they are on the Closing Date, 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, pro rata by the Note B Holders (in each case up to the Note Principal Balance of the related B Note, together
with accrued interest thereon at the related Note Interest Rate and any other amounts due to such Note B Holder), and second,
pro rata by the Note A Holders (in each case up to the Note Principal Balance of the related A Note,

 

    
	41 
	Co-Lender Agreement
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together with accrued
interest thereon at the related Note Interest Rate, and any other amounts due to such Note A Holder). If the Mortgaged Properties
shall become an REO Property, the same shall be acquired, managed and operated in substantially the manner provided in the Servicing
Agreement, and the priority of distributions among the Note A Holder and the Note B Holder shall continue to be made in accordance
with the terms of Section 6 that would be applicable following the occurrence and during the continuation of a Triggering
Event of Default (whether or not the applicable Mortgage Loan Documents then remain in effect), with distributions on account
of scheduled interest payments being deemed to be Assumed Scheduled Payments (as such term shall be defined in the Servicing Agreement)
for such purpose.

 

(b)      
For purposes of determining the identity of the Controlling Holder (and not for any other purpose, including purposes of calculations
set forth in Section 5 and Section 6 hereof), Appraisal Reduction Amounts and Collateral Deficiency Amounts shall
be allocated first, to reduce the Note Principal Balances of the B Notes, pro rata, and then, to reduce the
Note Principal Balances of the A Notes, pro rata. The Lead Securitization Note Holder (or the Special Servicer on its behalf)
shall notify the Holders in writing of any Appraisal Reduction Amounts and Collateral Deficiency Amounts calculated with respect
to the Mortgage Loan and any allocation thereof to notionally reduce the Note Principal Balances of any Note.

 

8.        
Collection Accounts; Payment Procedure. (a) Pursuant to the terms of this Agreement or the Servicing Agreement, the Lead
Securitization Note Holder shall cause the Servicer to establish and maintain the Collection Account. Each of the Holders hereby
directs the Servicer, in accordance with the priorities set forth in Section 5 and Section 6, as applicable,
and subject to the terms of this Agreement or the Servicing Agreement, as applicable, (i) to deposit into the applicable Collection
Account within two (2) Business Days after receipt of properly identified funds with respect to the Mortgage Loan and (ii) to
remit from the applicable Collection Account (x) for deposit or credit on the Remittance Date all payments received with respect
to and allocable to each A Note and B Note, by wire transfer to accounts maintained by each Holder and designated to the Servicer
in writing; provided that delinquent payments received by the Servicer after the related Remittance Date shall be remitted by
the Servicer to such accounts no later than the Business Day after the Determination Date; and (y) for such other purposes and
at such times as specified in this Agreement and the Servicing Agreement.

 

(b)         
If any Servicer holding or having distributed any amount received or collected in respect of any Note 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 Borrowers or paid to
any Holder, any Servicer or any other Person, then, notwithstanding any other provision of this Agreement, such Servicer shall
not be required to distribute any portion thereof to the Holder of such Note, and such Holder, shall promptly on demand repay
to such Servicer the portion thereof which shall have been theretofore distributed to the related Holder, together with interest
thereon at such rate, if any, as such Servicer shall have been required to pay to the Mortgage Loan Borrowers, the Holders, any
other Servicer or such other Person with respect thereto, or, if the amount in question had been advanced by the Servicer, then
with interest thereon at the Advance Rate. Each Holder agrees that if at any time

 

    
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	Co-Lender Agreement
	(Cambridge Crossing – 350 and 450 Water Street)

     

    

 

it shall receive from any sources whatsoever
any payment on account of the Mortgage Loan in excess of its distributable share thereof, it will promptly remit such excess to
the Servicer. The Servicer shall have the right to offset any amounts due hereunder from any Holder, with respect to the Mortgage
Loan against any future payments due to such Holder, as applicable, under the Mortgage Loan, provided, that the obligations
of each Holder under this Section 8 are separate and distinct obligations from one another, and in no event shall
any Servicer be permitted or required under the Servicing Agreement to enforce the obligations of any Holder against the other
Holders. The obligations of each Holder under this Section 8 constitute absolute, unconditional and continuing obligations
and each Servicer shall be deemed a third party beneficiary of these provisions.

 

9.       
Advances; Default Interest; Penalty Charges.

 

(a)         
Prior to the Lead Securitization Date, if the Lead Securitization Note Holder elects, in its reasonable good faith discretion
and in accordance with Accepted Servicing Practices, to make a Property Advance, the Lead Securitization Note Holder shall notify
the other Holders promptly, which notice shall set forth the amount of the additional funds required, the date such funds are
required and a summary of the need for such advance. The other Holders shall be required to advance on or before the date specified
in the related notice their respective Percentage Interest of such Property Advance. If any Holder fails or refuses to advance
the foregoing share of such Property Advance, the Lead Securitization Note Holder shall have the right to advance the portion
of such Property Advance not advanced by such other Holders. Repayment of any and all such Property Advances made by any Holder
together with interest thereon at the Advance Rate, if applicable, shall be paid to the Holders as provided in Section 5 and Section
6 hereof.

 

(b)         
From and after the Lead Securitization Date, the Servicer and/or the Trustee shall be obligated to make Property Advances with
respect to the Mortgage Loan in accordance with the Lead Securitization Servicing Agreement and the right of such party to reimbursement
for any such Property Advances and interest thereon will be prior to the rights of the Holders to receive any distributions or
amounts recovered with respect to the Mortgage Loan or the Mortgaged Properties to the extent provided in this Agreement.

 

(c)          
If any party to the Lead Securitization Servicing Agreement or any Non-Lead Securitization Servicing Agreement makes a P&I
Advance in respect of any Note, such P&I Advance and any interest accrued thereon shall be reimbursable to such advancing
party solely as provided under the terms of this Agreement and the Lead Securitization Servicing Agreement or Non-Lead Securitization
Servicing Agreement, as applicable.

 

(d)         
The Lead Securitization Servicing Agreement shall provide that Penalty Charges and any interest accrued at the Mortgage Default
Rate on the Mortgage Loan Principal Balance that is in excess of interest accrued on the Mortgage Loan Principal Balance at the
Mortgage Interest Rate, in either case to the extent actually paid by the Mortgage Loan Borrowers, shall be applied by the Master
Servicer (prior to allocation to the Holders under Section 5 or Section 6) for following purposes:

 

    
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(1)      
first, (i) to pay the Master Servicer, the Trustee or the Special Servicer for each Holder’s pro rata share
of any interest accrued on any Property Advances and reimbursement of any Property Advances in accordance with the terms of the
Lead Securitization Servicing Agreement; (ii) to pay the Master Servicer or the Trustee or the master servicers or trustees under
the related Non-Lead Securitization Servicing Agreement the amount, if any, of interest accrued on any P&I Advance made with
respect to any Note by such party; and (iii) to pay the Master Servicer or the Trustee for each Standalone Note Holder’s
pro rata share of interest accrued on any Administrative Advances and reimbursement of any Administrative Advances in accordance
with the terms of the Lead Securitization Servicing Agreement, and

 

(2)      
second, be used to reduce, on a pro rata basis, each Holder’s share of Trust Fund Expenses (including Special
Servicing Fees, unpaid Workout Fees and Liquidation Fees) incurred with respect to the Mortgage Loan (as specified in the Lead
Securitization Servicing Agreement).

 

(e)       
The Lead Securitization Servicing Agreement may also provide that (i) any Penalty Charges and any interest accrued at the Mortgage
Default Rate that has been allocated pursuant to Section 5 or Section 6 to the Notes included in such Lead Securitization
be paid to the Master Servicer and/or the Special Servicer as Additional Servicing Compensation as provided in the Lead Securitization
Servicing Agreement and (ii) following a Non-Lead Securitization, any Penalty Charges and any interest accrued at the Mortgage
Default Rate that has been allocated pursuant to Section 5 or Section 6 to the Holder of the Note included in such
Non-Lead Securitization, be paid to the Master Servicer and/or the Special Servicer as Additional Servicing Compensation as provided
in the Lead Securitization Servicing Agreement.

 

10.       
Limitation on Liability. Neither the Note A Holders nor any Servicer acting on its behalf shall have any liability to the
Note B Holder with respect to a B 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 A Holder or the Servicer. The Note B Holder shall have no liability to any
Note A Holder with respect to its respective A Note except with respect to losses actually suffered due to the negligence, willful
misconduct or breach of this Agreement on the part of the Note B Holder.

 

11.       
Purchase of A Notes by the Note B Holder; Note B Holder Cure Rights.

 

Prior
to the Lead Securitization Date or if each B Note is no longer included in the Lead Securitization Trust, the provisions of this
Section 11 shall apply. In addition, if any B Note is included in the Lead Securitization Trust, the provisions of this
Section 11 shall not apply.

 

(a)          
Par Purchase Option. If a Triggering Event of Default has occurred and is continuing, then, upon written notice from the
Lead Securitization Note Holder (or the Servicer on its behalf) (a “Repurchase Option Notice”) of such occurrence,
any Note B Holder (and if each of the Note B-1 Holder, the Note B-2 Holder, the Note B-3 Holder or the Note B-4 Holder, or any
combination thereof, provide such written notice, then such Note B Holders, collectively,

 

    
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	Co-Lender Agreement
	(Cambridge Crossing – 350 and 450 Water Street)

     

    

 

on a pro rata basis) shall have
the right, prior to any other party, by written notice to the Lead Securitization Note Holder (or the Servicer on its behalf)
(a “Note B Holder Repurchase Notice”), after the occurrence of the Triggering Event of Default and prior to
the earliest date (the “Purchase Right Cut-Off Date”) to occur of (a) the cure of the Triggering Event of Default,
(b) the consummation of a foreclosure sale, sale by power of sale or delivery of a deed-in-lieu of foreclosure with respect to
the Mortgaged Properties (and the Lead Securitization Note Holder (or the Servicer on its behalf) shall be required to give the
Note B Holder five (5) Business Days prior written notice of its intent (a “Notice of Foreclosure/DIL”) with
respect to any such action in this clause (b)), except that if the Servicer intends to accept a deed-in-lieu of foreclosure, it
shall deliver a Notice of Foreclosure/DIL (stating that it intends to accept a deed-in-lieu of foreclosure) to the Note B Holder
and the Note B Holder shall have the option, within ten (10) Business Days from the date it receives such Notice of Foreclosure/DIL,
to deliver a Note B Holder Repurchase Notice to the Lead Securitization Note Holder (or the Servicer on its behalf), and provided
that it has delivered notice within such time period, to consummate the purchase option on a Repurchase Date (as defined below)
to occur no later than thirty (30) days from the day it received the Notice of Foreclosure/DIL from the Servicer; provided,
that such thirty (30) days may be extended at the option of the Note B Holder for an additional thirty (30) days upon payment
to the Lead Securitization Note Holder (or the Servicer on its behalf) of a $5 million non-refundable cash deposit if the Note
B Holder provides evidence reasonably satisfactory to the Lead Securitization Note Holder (or the Servicer on its behalf) that
it is diligently and expeditiously proceeding to consummate its purchase of each A Note, (c) the modification of the Mortgage
Loan Documents effected in accordance herewith and with the terms of the Servicing Agreement (and subject to the approval rights
of the Directing Holder and the consultation rights of the Non-Controlling Holder set forth herein and therein) and (d) the date
that is ninety (90) days after the Directing Holder’s receipt of the Repurchase Option Notice, to purchase each A Note for
the applicable Defaulted Mortgage Loan Purchase Price, and upon the delivery of the Note B Holder Repurchase Notice to each Note
A Holder (or the Servicer on its behalf), each Note A Holder (or the Servicer on its behalf) shall sell and the Note B-1 Holder,
the Note B-2 Holder, the Note B-3 Holder or the Note B-4 Holder, as applicable, shall purchase all of each Note A Holder’s
right, title and interest in and to each A Note (without recourse or warranty, except that each Note A Holder shall represent
and warrant that it owns its respective A Note, its respective A Note is free and clear of liens, encumbrances and any participations
therein, and that such Note A Holder as applicable, has the power and authority to sell and deliver its respective A Note) for
the applicable Defaulted Mortgage Loan Purchase Price, on a date (the “Repurchase Date”) not less than five
(5) Business Days nor more than fifteen (15) Business Days after the date of the Note B Holder Repurchase Notice (other than as
provided in the immediately preceding clause (b) with respect to a Note B Holder Repurchase Notice based on a Notice of Foreclosure/DIL),
as shall be designated by the Note B-1 Holder, the Note B-2 Holder, the Note B-3 Holder or the Note B-4 Holder, as applicable,
and reasonably acceptable to each Note A Holder. The Defaulted Mortgage Loan Purchase Price shall be calculated by the Servicer
three (3) Business Days prior to the Repurchase Date (and such calculation shall be accompanied by reasonably detailed back-up
documentation explaining how such price was determined). The right of a Note B Holder to exercise its purchase option hereunder
shall automatically terminate upon the Purchase Right Cut-Off Date, subject to the possibility that such right will be reinstated
if a Triggering Event of Default subsequently occurs. Upon the consummation of the purchase

 

    
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	Co-Lender Agreement
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option contemplated by this Section 11(a),
the Lead Securitization Note Holder (or the Servicer or Trustee on its behalf) shall deliver all original Mortgage Loan Documents
and other applicable materials in its possession to the applicable Note B Holder or its designee. The foregoing rights of the
Note B Holders shall be in addition to any rights such Person may have to purchase each A Note pursuant to the Servicing Agreement.
Notwithstanding the foregoing, if either of the Mortgage Loan Borrowers or any Mortgage Loan Borrower Related Party is a Note
B Holder (or holds a majority interest in a B Note), such Note B Holder shall not have the right to exercise the purchase option
set forth in this Section 11(a).

 

Notwithstanding
anything to the contrary contained in this Section, during the period in which any portion of the Mortgage Loan is subject to
purchase by Note B Holder pursuant to this Section, the Mortgage Loan shall continue to be serviced by the applicable Servicer
in accordance with Accepted Servicing Practices.

 

(b)         
Cure Rights. In the event any monetary default beyond applicable notice and grace periods or non-monetary default beyond
applicable notice and grace periods shall exist with respect to the Mortgage Loan, then, upon notice from the Lead Securitization
Note Holder (or the Servicer on its behalf) (a “Cure Option Notice”) of the occurrence of such default beyond
applicable notice and grace periods (which notice the Lead Securitization Note Holder (or the Servicer on its behalf) shall promptly
give to the Note B Holder upon receipt of knowledge thereof), each Note B Holder shall have the right, exercisable by each Note
B Holder giving written notice of its intent to cure a default within five (5) Business Days after receipt of the Cure Option
Notice, to cure such default (and if each of the Note B-1 Holder, the Note B-2 Holder, the Note B-3 Holder or the Note B-4 Holder,
or any combination thereof, provide such notice, then such Note B Holders collectively, on a pro rata basis shall have
the right to cure such default); provided, in the event a Note B Holder has elected to cure any default, the default must
be cured by such Note B Holder within, in the case of a monetary default, ten (10) Business Days after receipt of such Cure Option
Notice and, in the case of a non-monetary default, thirty (30) days after receipt of such Cure Option Notice. If a Note B Holder
is attempting to cure a non-monetary default, the foregoing cure period of thirty (30) days may be extended for an additional
sixty (60) days (for a total of up to ninety (90) days), but only for so long as (i) such Note B Holder is diligently and expeditiously
proceeding to cure such non-monetary default, (ii) such Note B Holder makes all Cure Payments that it is permitted to make in
accordance with this Section, (iii) such non-monetary default is not the result of a bankruptcy of the Mortgage Loan Borrowers
or other insolvency related event, and no bankruptcy commences or other insolvency related event occurs during the period that
such Note B Holder is otherwise permitted to cure a non-monetary default in accordance with this Section and (iv) there is no
material adverse effect on the Mortgage Loan Borrowers, the Mortgaged Properties or the value of the Mortgage Loan as a result
of such non-monetary default or the attempted cure thereof.

 

If
a Note B Holder elects to cure a default that can be cured by the payment of money (each such payment, a “Cure Payment”),
such Note B Holder shall make such Cure Payment as directed by the Lead Securitization Note Holder (or the Servicer on its behalf)
and each such Cure Payment shall include all costs, expenses, losses, liabilities, obligations, damages, penalties, and disbursements
imposed on, incurred by or asserted against each Note A Holder (including,

 

    
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	Co-Lender Agreement
	(Cambridge Crossing – 350 and 450 Water Street)

     

    

 

without limitation, all unreimbursed Advances (without
regard to whether such Advance would be a Nonrecoverable Advance) and any interest charged thereon at the Advance Rate, and any
unpaid Special Servicing Fees with respect to the Mortgage Loan, but excluding any default interest and Penalty Charges) related
to the default and incurred during the period of time from the expiration of the grace period for such default under the Mortgage
Loan until such Cure Payment is made or such other cure is otherwise effected.

 

The
right of a Note B Holder to reimbursement of any Cure Payment shall be as set forth in Section 5 and Section 6,
as applicable. So long as a default exists that is being cured by a Note B Holder pursuant to this Section 11(b) and
the cure period has not expired and such Note B Holder is permitted to cure under the terms of this Section 11(b),
the Lead Securitization Note Holder (or the Servicer on its behalf) and the Trustee shall not treat such default as a default
or a Triggering Event of Default (i) for purposes of Section 5 or Section 6; (ii) for purposes of accelerating
the Mortgage Loan, modifying, amending or waiving any provisions of the Mortgage Loan Documents or commencing proceedings for
foreclosure or the taking of title by deed-in-lieu of foreclosure or other similar legal proceedings with respect to the Mortgaged
Properties; or (iii) for purposes of treating the Mortgage Loan as a Specially Serviced Mortgage Loan; provided that such
limitations shall not prevent the Lead Securitization Note Holder (or the Servicer on its behalf) or the Trustee from sending
notices of the default to the Mortgage Loan Borrowers or any related guarantor or making demands on the Mortgage Loan Borrowers
or any related guarantor or from collecting default interest or late payment charges from the Mortgage Loan Borrowers. Notwithstanding
anything to the contrary contained in this Section 11(b), (A) a Note B Holder’s right to cure a monetary default
or non-monetary default shall be limited to six (6) Cure Events over the life of the Mortgage Loan and (B) no single Cure Event
may exceed four (4) consecutive months. For the avoidance of doubt, it is intended that if a single Event of Default is cured
for four consecutive months, that same Event of Default may not be cured in the succeeding (fifth) month, a Note B Holder would
be permitted to cure a different Event of Default in such succeeding (fifth) month. As used herein, “Cure Event”
means a Note B Holder’s exercise of cure rights, whether for one (1) month or for consecutive months in the aggregate (and,
in such case, such cure for such consecutive months shall constitute one (1) Cure Event). Cure Events in addition to the number
of Cure Events permitted under this Section 11(b) shall only be permitted with the consent of the Lead Securitization Note
Holder (or the Servicer on its behalf) or, at any time that the Mortgage Loan is included in the Lead Securitization, the Special
Servicer.

 

12.      
Certain Servicing Matters.

 

(a)          
Books and Records. Prior to the Lead Securitization Date, in connection with any inspection of the Mortgaged Properties
or the books and other financial records of the Mortgage Loan Borrowers by the Lead Securitization Note Holder (or the Servicer
on its behalf) pursuant to the terms of the Mortgage Loan Documents, the Lead Securitization Note Holder (or the Servicer on its
behalf) shall, upon written request of the Directing Holder (if any) request that the Mortgage Loan Borrowers to reasonably cooperate
to provide the Directing Holder (if any) access for its own inspection of such Mortgaged Properties or the books and other financial
records. In addition, in response to the written request of the Directing Holder (if any), the Lead

 

    
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	Co-Lender Agreement
	(Cambridge Crossing – 350 and 450 Water Street)

     

    

 

Securitization Note Holder
(or the Servicer on its behalf) shall request that the officers of the Mortgage Loan Borrowers and the accountants and other representatives
of the Mortgage Loan Borrowers arrange a meeting (either telephonic or in person) to discuss the business, financial and other
condition of the Mortgage Loan Borrowers, and all reasonable out-of-pocket costs incurred by the Lead Securitization Note Holder
(or the Servicer on its behalf) shall be paid by the Controlling Holder. From and after the Lead Securitization Date, this Section
12(a) shall no longer apply.

 

(b)          
Monthly Servicing Report. Prior to the Lead Securitization Date, each month, the Servicer shall prepare and shall promptly
deliver copies to each of the Holders a report containing the following information:

 

(i)       
For each of the Holders, (x) the amount of the distribution from the Collection Account allocable to principal (y) separately
identifying the amount of scheduled principal payments, Balloon Payments, Prepayments made at the option of the Mortgage Loan
Borrowers or other Prepayments (specifying the reason therefor) and Liquidation Proceeds included therein and information on distributions
made with respect to each of the Notes and (z) the amounts deposited and on reserve in each of the escrow and reserve funds accounts
held by Servicer;

 

(ii)      
For each of the Holders, the amount of the distribution from the Collection Account allocable to interest and the amount of Prepayment
Charges and default interest paid under the Mortgage Loan Documents;

 

(iii)     
If the distribution to the Holders is less than the full amount that would be distributable to such Holders if there had been
sufficient amounts available therefor, the amount of the shortfall and the allocation thereof between interest and principal and
the amount of the shortfall, if any, under the Mortgage Loan;

 

(iv)    
The principal balance and the Realized Losses relating to each of the Notes, after giving effect to the distribution of principal
on such Remittance Date;

 

(v)     
The amount of the servicing fees paid to the Servicer and the Special Servicer with respect to such Remittance Date, showing separately
the Servicing Fee, the Special Servicing Fee, any Workout Fee and any Liquidation Fee, and the amount of any fees payable to the
paying agent; and

 

(vi)    
Information regarding disputes affecting the Mortgage Loan Borrowers and the Mortgaged Properties and such other information as
any Holder may reasonably request, to the extent reasonably available to the Trustee, the Servicer or the related Special Servicer,
such costs, to the extent not included in the regular fees and charges of the Servicer, shall be reimbursed by the requesting
party.

 

From
and after the Lead Securitization Date, the Servicer shall only deliver such reports to the Holders as provided in the Lead Securitization
Servicing Agreement; provided, however, so long as the Mortgage Loan is being serviced pursuant to the Interim Servicing
agreement, this Section

 

    
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	Co-Lender Agreement
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shall not be applicable and the Servicer shall provide the reports as set forth in the Interim Servicing
Agreement.

 

(c)          
Financial Statements Etc. The Lead Securitization Note Holder (or the Servicer on its behalf) shall promptly provide the
other Holders with copies of each financial statement and other statements and reports delivered to the Lead Securitization Note
Holder (or the Servicer on its behalf) pursuant to the terms of the Mortgage Loan Documents. Subject to the terms of the applicable
Mortgage Loan Documents, upon the reasonable request of such other Holder, the Lead Securitization Note Holder (or the Servicer
on its behalf) shall also promptly deliver to such other Holder, copies of any other documents relating to the Mortgage Loan,
including, without limitation, property inspection reports and loan servicing statements.

 

(d)          
Copies. Any copies to be furnished by the Servicer under this Agreement may be furnished by hard copy or electronic means.

 

13.      
Representations and Warranties of Each Initial Holder. Each of the Initial Holders, as of the date hereof, hereby represents
and warrants and covenants that:

 

(i)        
It is duly organized, validly existing and in good standing under the laws of the jurisdiction in which it is organized.

 

(ii)      
The execution and delivery of this Agreement by it, and the performance of, and compliance with, the terms of this Agreement by
it, will not violate its organizational documents or constitute a default (or an event which, with notice or lapse of time, or
both, would constitute a default) under, or result in the breach of, any material agreement or other instrument to which it is
a party or that is applicable to it or any of its assets, in each case which materially and adversely affect its ability to carry
out the transactions contemplated by this Agreement.

 

(iii)      
It has the full power and authority to enter into and consummate all transactions contemplated by this Agreement, has duly authorized
the execution, delivery and performance of this Agreement and has duly executed and delivered this Agreement.

 

(iv)    
This Agreement is its legal, valid and binding obligation enforceable against it in accordance with its terms, except as the enforcement
thereof may be limited by bankruptcy, insolvency, reorganization, liquidation, receivership, moratorium or other laws relating
to or affecting the enforcement of creditors’ rights or by general principles of equity (regardless of whether such enforceability
is considered in a proceeding in equity or at law).

 

(v)      
Immediately prior to the execution and delivery of this Agreement, it was the sole legal owner and Holder of its related Note,
free and clear of any lien, pledge, hypothecation, encumbrance or other adverse interest in the Mortgage Loan, and it has the
right to enter into this Agreement without the consent of any third party.

 

    
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	Co-Lender Agreement
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(vi)     
It is not in violation of, and its execution and delivery of this Agreement and its performance of, and compliance with, the terms
of this Agreement will not constitute a violation of, any law, any order or decree of any court or arbiter, or any order, regulation
or demand of any federal, state or local government or regulatory authority, which violation, in its good faith and reasonable
judgment, is likely to affect materially and adversely either its ability to perform its obligations under this Agreement or its
financial condition.

 

(vii)   
No litigation is pending with regard to which it has received service of process or, to the best of its knowledge, has been threatened
against it, the outcome of which, in its good faith and reasonable judgment is likely to materially and adversely affect the ability
to perform its obligations under this Agreement.

 

(viii)  
It has not dealt with any broker, investment banker, agent or other person that may be entitled to any commission or compensation
in connection with the transactions contemplated hereby.

 

(ix)      
No consent, approval, authorization or order of, registration or filing with, or notice to, any governmental authority or court
is required, under federal or state law (including, with respect to any bulk sale laws), for its execution, delivery and performance
of or compliance with this Agreement or its consummation of any transaction contemplated hereby, other than (i) such consents,
approvals, authorizations, qualifications, registrations, filings or notices as have been obtained or made and (ii) where
the lack of such consent, approval, authorization, qualification, registration, filing or notice would not have a material adverse
effect on its performance under this Agreement.

 

14.      
Intentionally Omitted.

 

15.      
Independent Analyses of the Initial Note B Holder. Subject to the provisions of Section 13, each Initial Note
B Holder acknowledges that it has, independently and without reliance upon any Initial Note A Holder and based on such documents
and information as such Holder has deemed appropriate, made such Holder’s own credit analysis and decision to originate
its related B Note. Except as expressly provided in this Agreement, each Initial Note B Holder hereby acknowledges that the other
Holders have not made any representations or warranties with respect to the Mortgage Loan, and that the other Holders shall have
no responsibility for (i) the collectibility of the Mortgage Loan, (ii) the validity, enforceability or legal effect of any of
the Mortgage Loan Documents or the title insurance policy or policies or any survey furnished or to be furnished to each Initial
Note A Holder in connection with the origination of the Mortgage Loan, (iii) the validity, sufficiency or effectiveness of the
lien created or to be created by the Mortgage Loan Documents or (iv) the financial condition of the Mortgage Loan Borrowers. Each
Initial Note B Holder assumes all risk of loss in connection its related B Note, for reasons other than the gross negligence,
willful misconduct or breach of this Agreement by the Initial Note A Holders or the gross negligence, willful misconduct or bad
faith by any Servicer.

 

    
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	Co-Lender Agreement
	(Cambridge Crossing – 350 and 450 Water Street)

     

    

 

16.      
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 arrangement between any one or more Holders, on the one hand, and any one or more other
Holders, on the other hand, a partnership, association, joint venture or other entity. No Holder shall have any obligation whatsoever
to offer to any other Holder the opportunity to purchase notes or participation interests relating to any future loans originated
by such Holder or its Affiliates, and if such Holder chooses in its sole discretion to offer to one or more other Holders the
opportunity to purchase notes or any participation interests in any future mortgage loans originated by such Holder or its Affiliates,
such offer shall be at such purchase price and interest rate as such Holder chooses, in its sole and absolute discretion. No Holder
shall have any obligation whatsoever to purchase from one or more other Holders any notes or participation interests in any future
loans originated by the other Holder or its respective Affiliates.

 

17.       
Not a Security. None of the Notes shall be deemed to be a security within the meaning of the Securities Act of 1933 or
the Securities Exchange Act of 1934.

 

18.       
Transfer of Notes. (a) Each Holder agrees that it will not sell, assign, transfer, pledge, syndicate, hypothecate, contribute,
encumber or otherwise dispose of all or any portion of its respective Note (a “Transfer”) except to a Qualified
Institutional Lender. Promptly after any Transfer (other than any Transfer between Initial Holders or any Transfer by an Initial
Holder to a Securitization Trust), non-transferring Holders shall be provided with (x) a representation from the related transferee
or the applicable Holder certifying that such transferee is a Qualified Institutional Lender (except in the case of a Transfer
in accordance with the immediately following sentence) and (y) a copy of an assignment and assumption agreement whereby such transferee
assumes all of the obligations of the applicable Holder hereunder with respect to such Note thereafter accruing and agrees to
be bound by the terms of this Agreement. If a Holder intends to Transfer its respective Note, or any portion thereof, to an entity
that is not a Qualified Institutional Lender, it must first (a) obtain the consent of each non-transferring Holder and (b) if
any such non-transferring Holder’s Note is held in a Securitization Trust, provide each of the applicable engaged Rating
Agencies for such Securitization Trust with a Rating Agency Confirmation. Notwithstanding the foregoing, without each non-transferring
Holder’s prior consent (which will not be unreasonably withheld), and, if any non-transferring Holder’s Note is held
in a Securitization Trust, until a Rating Agency Confirmation is provided to each engaged Rating Agency for such Securitization
Trust, no Holder shall Transfer all or any portion of its Note (or a participation interest in such Note) to the Mortgage Loan
Borrowers or a Mortgage Loan Borrower Related Party and any such Transfer shall be absolutely null and void and shall vest no
rights in the purported transferee. The transferring Holder agrees that it shall pay the expenses of any non-transferring Holder
(including all expenses of the Master Servicer, the Special Servicer and the Trustee) and all expenses relating to any Rating
Agency Confirmation in connection with any such Transfer. Notwithstanding the foregoing, each Holder shall have the right, without
the need to obtain the consent of any other Holder or of any other Person or having to provide any Rating Agency Confirmation,
to Transfer 49% or less (in the aggregate) of its beneficial interest in a Note to an entity that is not the Mortgage Loan Borrowers
or a Mortgage Loan Borrower Related Party. None of the provisions of this Section 18(a) shall apply in the case of (1)
a sale of the Lead Securitization Notes together with all of the

 

    
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	Co-Lender Agreement
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Non-Lead Securitization Notes, in accordance with the terms and
conditions of the Lead Securitization Servicing Agreement, (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 Properties, upon the Mortgage
Loan becoming a Defaulted 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, or (3) the Transfer of any securities issued by a Securitization Trust.

 

(b)      
In the case of any Transfer of a participation interest in any of the Notes, (i) the respective Holders’ obligations under
this Agreement shall remain unchanged, (ii) such 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 Holder in connection with such 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 Holder had not sold such participation interest.

 

(c)       
Notwithstanding any other provision hereof, any Holder may pledge (a “Pledge”) its Note to any entity (other
than the Mortgage Loan Borrowers or any Affiliate thereof) which has extended a credit facility to such Holder and that 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 applicable Rating Agency (or, if not rated by an applicable Rating Agency, an equivalent (or
higher) rating from any two of Fitch, Moody’s and S&P) (a “Note Pledgee”), on terms and conditions
set forth in this Section 18(c), it being further agreed that a financing provided by a Note Pledgee to a 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, 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 Holder to each other Holder and
any Servicer that a Pledge has been effected (including the name and address of the applicable Note Pledgee), each other Holder
agrees to acknowledge receipt of such notice and thereafter agrees: (i) to give Note Pledgee written notice of any default by
the pledging Holder in respect of its obligations under this Agreement of which default such Holder has actual knowledge; (ii)
to allow such Note Pledgee a period of ten (10) days to cure a default by the pledging Holder in respect of its obligations to
each other 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 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 Holder;
(v) that such other Holder shall deliver to Note Pledgee such estoppel certificate(s) as Note Pledgee shall reasonably request,
provided that any such certificate(s) shall be in a form reasonably satisfactory to such other Holder; and (vi) that, upon written
notice (a “Redirection Notice”) to each other Holder and any Servicer by such Note Pledgee that the pledging
Holder is in default, beyond any applicable cure periods, under the pledging Holder’s obligations to such Note Pledgee pursuant
to the applicable

 

    
	52 
	Co-Lender Agreement
	(Cambridge Crossing – 350 and 450 Water Street)

     

    

 

credit agreement between the pledging Holder and such Note Pledgee (which notice need not be joined in or confirmed
by the pledging 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 Holder or Servicer would otherwise be obligated to pay to the pledging Holder from
time to time pursuant to this Agreement or the Lead Securitization Servicing Agreement. Any pledging Holder hereby unconditionally
and absolutely releases each other Holder and any Servicer from any liability to the pledging Holder on account of such other
Holder’s or Servicer’s compliance with any Redirection Notice believed by any Servicer or such other Holder to have
been delivered by a Note Pledgee. Note Pledgee shall be permitted to exercise fully its rights and remedies against the pledging
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 Holders and any Servicer shall recognize such Note Pledgee (and any transferee other
than the Mortgage Loan Borrowers or any Affiliate thereof which 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 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 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 18(c) shall remain effective as to any Holder (and any Servicer) unless and until such
Note Pledgee shall have notified any such 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 Holder then such 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:

 

(i)       
The loan (the “Conduit Inventory Loan”) made by the Conduit to such 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 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 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 Holder, the Conduit Credit Enhancer
will purchase the Conduit Inventory Loan from the Conduit, and the Conduit will assign the Pledge of such Holder’s Note
to the Conduit Credit Enhancer; and

 

    
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	Co-Lender Agreement
	(Cambridge Crossing – 350 and 450 Water Street)

     

    

 

(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 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.

 

19.      
Other Business Activities of the Holders. Each of the Holders acknowledges that the other Holders may make loans or otherwise
extend credit to, and generally engage in any kind of business with, any Affiliate of the Mortgage Loan Borrowers (“Mortgage
Loan Borrower Related Parties”), and receive payments on such other loans or extensions of credit to the Mortgage Loan
Borrower Related Parties 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.

 

20.      
Exercise of Remedies by the Servicer.

 

(a)      
Each of the Holders acknowledges that, subject to the terms of this Agreement (including without limitation, the Controlling Holder’s
rights under Section 21 hereof) and the Servicing Agreement, (i) the Lead Securitization Note Holder (or any Servicer or
Trustee (if any) on its behalf) may exercise or refrain from exercising any rights that such Lead Securitization Note Holder (or
such Servicer or Trustee (if any)) may have hereunder or under the Servicing Agreement in a manner that may be adverse to the
interests of the other Holders, so long as such actions are in accordance with Accepted Servicing Practices and the other terms
of this Agreement, (ii) the Lead Securitization Note Holder shall have no liability whatsoever to the other Holders as a result
of such Lead Securitization Note Holder’s (or any Servicer’s or Trustee’s) exercise of such rights or any omission
by such Lead Securitization Note Holder (or any Servicer or Trustee) to exercise such rights, except as expressly provided herein
or for acts or omissions that are taken or omitted to be taken by such Lead Securitization Note Holder that constitute the gross
negligence or willful misconduct of such Lead Securitization Note Holder or a breach of this Agreement, and (iii) the Servicer
and the Special Servicer shall (and shall be required under the Servicing Agreement to) service and administer the Mortgage Loan
on behalf of each Note A Holder and each Note B Holder (as a collective whole) in accordance with Accepted Servicing Practices,
taking into account the interests of each Note A Holder and each Note B Holder; but in all cases giving due consideration to the
fact that each B Note is subject and subordinate to each A Note in accordance with the terms of this Agreement. Each Note A Holder
and each Note B Holder agree that the Servicer, to the extent consistent with the terms of this Agreement (including, without
limitation, Section 21) and from and after the Lead Securitization Date subject to and in accordance with the Servicing
Agreement, shall have the sole and exclusive authority (in each case, subject to the Accepted Servicing Practices and the terms
and conditions set forth in this Agreement, and the rights of any Controlling Holder) with respect to the administration of, and
exercise of rights and remedies with respect to, the Mortgage Loan, including, without limitation, the sole and exclusive authority
(i) to modify or waive any of the terms of the Mortgage Loan Documents, (ii) to consent to any action or failure to act by the
Mortgage Loan Borrowers or any party to the Mortgage Loan Documents, (iii) to vote all claims with respect to the Mortgage Loan
in any bankruptcy, insolvency or other similar

 

    
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	Co-Lender Agreement
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 proceedings and (iv) to take legal action to enforce or protect the Holders’
interests with respect to the Mortgage Loan or to refrain from exercising any powers or rights under the Mortgage Loan Documents,
including the right at any time to call or waive any Events of Default, or accelerate or refrain from accelerating the Mortgage
Loan or institute any foreclosure action and in all cases acting in accordance with Accepted Servicing Practices and the terms
of this Agreement and the Servicing Agreement, and except as otherwise expressly provided in this Agreement and the Servicing
Agreement, the other Holders shall have no voting, consent or other rights whatsoever with respect to the Lead Securitization
Note Holder’s or Servicer’s administration of, or exercise of its rights and remedies with respect to, the Mortgage
Loan. Each Holder agrees that it shall have no right to, and hereby presently and irrevocably assigns and conveys to the Lead
Securitization Note Holder and the Servicer and the Special Servicer the rights, if any, that such Holder has (i) to declare or
cause the Lead Securitization Note Holder or the Servicer to declare an Event of Default under the Mortgage Loan (ii) to exercise
any remedies with respect to the Mortgage Loan, including, without limitation, filing or causing the Lead Securitization Note
Holder or the Servicer to file any bankruptcy petition against the Mortgage Loan Borrowers or (iii) to vote any claims with
respect to the Mortgage Loan (including claims arising from any one or more Notes) in any bankruptcy, insolvency or similar type
of proceeding of the Mortgage Loan Borrowers. Each Holder shall, from time to time, execute such documents as the Lead Securitization
Note Holder, the Servicer or the Special Servicer shall reasonably request to evidence such assignment with respect to the rights
described in clause (iii) of the preceding sentence. Except when acting in the capacity of trustee or paying agent, the Lead
Securitization Note Holder (or the Servicer or the Special Servicer acting on behalf of such Lead Securitization Note Holder)
shall not have any fiduciary duty to the other Holders in connection with the administration of the Mortgage Loan but shall in
all events be obligated to act in accordance with Accepted Servicing Practices. Each Holder expressly and irrevocably waives for
itself and any Person claiming through or under such Holder any and all rights that it may have under Section 1315 of the
New York Real Property Actions and Proceedings Law or the provisions of any similar law that purports to give a junior noteholder,
mortgagee or loan participant the right to initiate any loan enforcement or foreclosure proceedings.

 

(b)      
Notwithstanding anything to the contrary contained herein, the exercise by the Lead Securitization Note Holder (or any Servicer
or the Trustee (if any) acting on its behalf) of its rights under this Section 20 shall be subject in all respects
to any sections of the Servicing Agreement governing REMIC administration, and in no event shall the Lead Securitization
Note Holder (or any Servicer or the Trustee (if any) acting on its behalf) be permitted to take any action or refrain from taking
any action which would violate the laws of any applicable jurisdiction, breach the Mortgage Loan Documents, violate Accepted Servicing
Practices or violate any other provisions of the Servicing Agreement or cause the arrangement evidenced hereby not to be treated
as a “grantor trust” for Federal income tax purposes. The Lead Securitization Note Holder (or any Servicer or the
Trustee (if any) acting on its behalf) shall exercise such rights and powers described in this Section 20 on the understanding
that the Lead Securitization Note Holder (or any Servicer or the Trustee (if any) acting on its behalf) shall administer the Mortgage
Loan in a manner consistent with the Servicing Agreement and this Agreement, provided that neither the Lead Securitization
Note Holder nor any Servicer or the

 

    
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	Co-Lender Agreement
	(Cambridge Crossing – 350 and 450 Water Street)

     

    

 

 Trustee (if any) acting on its behalf shall be liable to the other Holders with respect to
anything the Lead Securitization Note Holder or such Servicer or the Trustee (if any) may do or omit to do in relation to the
Mortgage Loan, other than as expressly set forth in this Agreement. Without limiting the generality of the foregoing, the Lead
Securitization Note Holder and any Servicer or the Trustee (if any) acting on its behalf may rely on the advice of legal counsel,
accountants and other experts (including those retained by the Mortgage Loan Borrowers) and upon any written communication or
telephone conversation which the Lead Securitization Note Holder or such Servicer or the Trustee (if any) believes to be genuine
and correct or to have been signed, sent or made by the proper Person.

 

(c)       
If title to the Mortgaged Properties are acquired for the benefit of the Holders in foreclosure, by deed-in-lieu of foreclosure
or upon abandonment or reclamation from bankruptcy, the deed or certificate of sale shall be taken in the name of the Lead Securitization
Note Holder or its nominee (which shall not include any Servicer) on behalf of the Holders. The Servicer, on behalf of the Holders,
shall dispose of any REO Property utilizing reasonable best efforts, consistent with Accepted Servicing Practices, to maximize
the proceeds of such disposal to the Holders (as a collective whole) if and when such Servicer determines, consistent with Accepted
Servicing Practices, that such disposal would be in the best economic interest of the Holders (as a collective whole). The Servicer
shall (and shall be required under the Servicing Agreement to) manage, conserve, protect and operate each REO Property for the
Holders solely for the purpose of its prompt disposition and sale in accordance with Accepted Servicing Practices.

 

(d)      
The Servicer shall have full power and authority, subject only to the specific requirements and prohibitions of this Agreement
(including the rights of the Controlling Holder), to do any and all things in connection with any REO Property as are consistent
with Accepted Servicing Practices and the terms of this Agreement, all on such terms and for such period as such Servicer deems
to be in the best interests of Holders (as a collective whole) and, in connection therewith, such Servicer shall only agree to
the payment of management fees that are consistent with general market standards or to terms that are more favorable to the Holders.
The Servicer shall (and shall be required under the Servicing Agreement to) segregate and hold all revenues received by it with
respect to any REO Property separate and apart from its own funds and general assets and shall establish and maintain with respect
to any REO Property a segregated custodial account (each, an “REO Account”). The Servicer shall (and shall
be required under the Servicing Agreement to) deposit or cause to be deposited in the REO Account within two Business Days after
receipt all revenues received by it with respect to any REO Property (other than Liquidation Proceeds, which shall be remitted
to the Collection Account), and shall withdraw therefrom funds necessary for the proper operation, management and maintenance
of such REO Property and for other Costs with respect to such REO Property, including:

 

(i)       
all insurance premiums due and payable in respect of any REO Property;

 

(ii)      
all real estate taxes and assessments in respect of any REO Property that may result in the imposition of a lien thereon;

 

    
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	Co-Lender Agreement
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(iii)     
all ground rents in respect of any REO Property;

 

(iv)     
all costs and expenses reasonable and necessary to protect, maintain, manage, operate, repair and restore any REO Property; and

 

(v)      
to the extent that such REO Proceeds are insufficient for the purposes set forth in clauses (i) through (iv) above and the
Servicer has provided written notice of such shortfall to the Holders of the necessity to take actions pursuant to this subsection (d),
any expenditure associated with such actions taken by the Servicer shall be payable by the Holders at their option pursuant to
Section 9.

 

(e)      
The Servicer shall contract with an independent contractor, the fees and expenses of which shall be an expense of the Holders
and payable out of REO Proceeds, for the operation and management of any REO Property, within forty-five (45) days after the Holders’
acquisition thereof (unless the Holders approve otherwise), provided that:

 

(i)       
the terms and conditions of any such contract shall be reasonable and consistent with the terms of this Agreement and customary
for the area and type of property and shall not be inconsistent herewith;

 

(ii)      
any such contract shall require, or shall be administered to require, that the independent contractor pay all costs and expenses
incurred in connection with the operation and management of such REO Property, including those listed above, and remit all related
revenues (net of such costs and expenses) to the Servicer as soon as practicable, but in no event later than thirty (30) days
following the receipt thereof by such independent contractor;

 

(iii)     
none of the provisions of this subsection (e) relating to any such contract or to actions taken through any such independent
contractor shall be deemed to relieve the Servicer of any of its duties and obligations to the Holders or the Lead Securitization
Note Holder on behalf of the Holders with respect to the operation and management of any such REO Property; and

 

(iv)     
the Servicer shall be obligated with respect thereto to the same extent as if it alone were performing all duties and obligations
in connection with the operation and management of such REO Property.

 

(f)      
The Servicer shall be entitled to enter into any agreement with any independent contractor performing services for it related
to its duties and obligations hereunder for indemnification of such Servicer by such independent contractor, and nothing in this
Agreement shall be deemed to limit or modify such indemnification. When and as necessary, the Servicer shall send to the Holders
a statement prepared by the Servicer setting forth the amount of net income or net loss, as determined for federal income tax
purposes, resulting from the operation and management of a trade or business on, the furnishing or rendering of a non-customary
service to the tenants of, or the receipt of any other amount not constituting rents in respect of, any REO Property.

 

    
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	Co-Lender Agreement
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(g)      
With respect to the Specially Serviced Mortgage Loan or REO Property, which the Servicer has determined to sell in accordance
with Accepted Servicing Practices, the Servicer shall deliver to the Holders an officers’ certificate to the effect that,
the Servicer has determined to sell the Specially Serviced Mortgage Loan or REO Property in accordance with this subsection (g).
The Servicer may then offer to sell to any Person the Specially Serviced Mortgage Loan which is in default or the REO Property
(and shall on a monthly basis advise the Holders in writing of the status of the Specially Serviced Mortgage Loan or REO Property)
or, subject to the following sentence, purchase the Specially Serviced Mortgage Loan or REO Property (in each case at the Defaulted
Mortgage Loan Purchase Price), but shall, in any event, so offer to sell the REO Property no later than the time determined by
the Servicer to be sufficient to result in the sale of the REO Property within the period specified in the REMIC Provisions. The
Servicer shall deliver such officers’ certificate and give the Holders not less than ten (10) Business Days’ prior
written notice of its intention to sell the Specially Serviced Mortgage Loan or REO Property, in which case the Servicer shall
accept the highest offer received from any Person for the Specially Serviced Mortgage Loan or the REO Property in an amount at
least equal to the Defaulted Mortgage Loan Purchase Price or, at its option, if it has received no offer at least equal to the
Defaulted Mortgage Loan Purchase Price therefor, purchase the Specially Serviced Mortgage Loan or REO Property at the Defaulted
Mortgage Loan Purchase Price.

 

(h)      
In the absence of any such offer at the Defaulted Mortgage Loan Purchase Price, or purchase by the Servicer at the Defaulted Mortgage
Loan Purchase Price, such Servicer shall accept the highest offer received from any Person that is determined by such Servicer
to be a fair price for the Specially Serviced Mortgage Loan or REO Property; provided, that the Lead Securitization Note
Holder (or the Servicer, if the Servicer or any Affiliate of the Servicer is not an offeror) shall be entitled to engage, at the
expense of the Holders, an Appraiser to determine whether the highest offer is a fair price. Notwithstanding anything to the contrary
herein, neither the Mortgage Loan Borrowers nor any Mortgage Loan Borrower Related Party may make an offer or purchase the Specially
Serviced Mortgage Loan or the REO Property pursuant hereto.

 

(i)       
The Servicer shall not be obligated by either of the foregoing paragraphs or otherwise to accept the highest offer if the Servicer
determines, in accordance with Accepted Servicing Practices, that rejection of such offer would be in the best interests of the
Holders as a collective whole. In addition, the Servicer may accept a lower offer if it determines, in accordance with Accepted
Servicing Practices, that acceptance of such offer would be in the best interests of the Holders as a collective whole (for example,
if the prospective buyer making the lower offer is more likely to perform its obligations, or the terms offered by the prospective
buyer making the lower offer are more favorable), provided that the offeror is not the Servicer or an Affiliate of the Servicer.
The Servicer shall in no event sell the Specially Serviced Mortgage Loan or the REO Property other than for cash.

 

(j)       
Subject to the other provisions of this Section 20, the Servicer shall act on behalf of the Holders in negotiating
and taking other action necessary or appropriate in connection with the sale of the Specially Serviced Mortgage Loan or REO Property,
including the collection of all amounts payable in connection therewith. Any sale of the Specially Serviced

 

    
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	Co-Lender Agreement
	(Cambridge Crossing – 350 and 450 Water Street)

     

    

 

Mortgage Loan or REO
Property shall be without recourse to, or representation or warranty by, any Servicer or any Holder, and, if such sale is consummated
in accordance with the duties of the Servicer pursuant to the terms of this Agreement, no such Person who so performed shall have
any liability to any Holders with respect to the purchase price therefor accepted by the Servicer.

 

(k)      
The proceeds of any sale of the Specially Serviced Mortgage Loan or REO Property after deduction of the direct out-of-pocket expenses
of such sale incurred in connection therewith shall be promptly, and in any event within one (1) Business Day (or, if received
after 3:00 p.m. Eastern time, two (2) Business Days) following receipt of properly identified funds, deposited in the Collection
Account. Within thirty (30) days after the sale of the REO Property, the Servicer shall provide to the Holders a statement of
accounting for the REO Property, including without limitation, (i) the date of disposition of the REO Property, (ii) the gross
sales price, the selling and other expenses and the net sales price, (iii) accrued interest on the Note A Principal Balance at
the applicable Note Interest Rate for each A Note, and on the Note B Principal Balance at the applicable Note Interest Rate for
each Note B, in each case calculated from the date of acquisition to the disposition date, and (iv) such other information as
the Holders may reasonably request. The Servicer shall file information returns regarding the abandonment or foreclosure of Mortgaged
Properties with the Internal Revenue Service at the time and in the manner required by the Code.

 

(l)       
The provisions of subsections (c) through (k) of this Section 20 shall be of no further force and effect from
and after the Lead Securitization Date, and the analogous provisions of the Lead Securitization Servicing Agreement shall control.

 

21.      
Certain Powers of the Controlling Holder.

 

This
Section 21 shall apply during the term of this Agreement; provided that from and after the Lead Securitization Date, (y)
Section 21(c) and (d) shall be of no further force and effect and the analogous provisions of the Lead Securitization
Servicing Agreement shall control, and (z) Section 21(j), (k) and (l) shall be of no further force and effect.

 

The
following provisions shall apply during the term of this Agreement:

 

(a)       
The Controlling Holder shall be entitled to appoint (or act as) a “directing lender” (the “Directing Holder”)
with respect to the Mortgage Loan and to exercise the rights and powers granted to the Directing Holder and the Controlling Holder
hereunder and under the Servicing Agreement (such designation to be made by written notice to the Lead Securitization Note Holder
(or the Servicer on its behalf)); provided, that if the Mortgage Loan Borrowers or any Mortgage Loan Borrower Related Party owns
any portion of a B Note, the ownership interests of such Person shall be deemed to equal zero for the purposes of determining
which owners can vote to elect the Directing Holder, and provided, further, that in no event may the Mortgage Loan Borrowers or
any Mortgage Loan Borrower Related Party serve as the Directing Holder. Subject to the Lead Securitization Servicing Agreement,
such designation shall remain in effect until it is revoked by the Controlling Holder by a writing delivered to each of the other
parties hereto.

 

    
	59 
	Co-Lender Agreement
	(Cambridge Crossing – 350 and 450 Water Street)

     

    

 

(b)      
Notwithstanding anything to the contrary contained herein (but subject to Section 21(d)), the Lead Securitization Note Holder
(or the Servicer on its behalf) shall, prior to taking any Major Decision, be required to notify in writing the Directing Holder
of any proposal to take any of such actions (and to provide the Directing Holder with such information requested by such Directing
Holder as may be necessary in the reasonable judgment of such Directing Holder in order to make a judgment) and to receive the
written approval of the Directing Holder (which approval may be withheld in its sole discretion);

 

(c)      
If the Directing Holder fails to notify the Lead Securitization Note Holder (or the Servicer on its behalf) of its approval or
disapproval of any such Major Decision within ten (10) Business Days after delivery to the Directing Holder by the Lead Securitization
Note Holder (or the Servicer on its behalf) of written notice (“Action Notice”) of such a Major Decision (which
notice shall contain a legend, in capitalized, bold-faced type containing the following statement as the top of the first page:
“THIS IS A REQUEST FOR MAJOR DECISION APPROVAL. IF THE DIRECTING HOLDER FAILS TO APPROVE OR DISAPPROVE THE ENCLOSED MAJOR
ACTION WITHIN TEN (10) BUSINESS DAYS, SUCH MAJOR DECISION WILL BE DEEMED APPROVED BY THE DIRECTING HOLDER”) together with
any information requested by the Directing Holder pursuant to Section 21(b) or this Section 21(c), then if the Directing
Holder fails to approve or reject the Major Decision within such ten (10) Business Day period, the Directing Holder’s approval
will be deemed to have been given for such Major Decision (provided, that if the Directing Holder has failed to notify the Lead
Securitization Note Holder (or the Servicer on its behalf) of its approval or disapproval of any such Major Decision within five
(5) Business Days following the delivery of the related Action Notice together with any information requested by the Directing
Holder pursuant to Section 21(b) or this Section 21(c), the Lead Securitization Note Holder (or the Servicer on
its behalf) will be required to promptly provide to the Directing Holder a second Action Notice bearing the same legend as the
first Action Notice). Notwithstanding the foregoing, any amounts funded by any Holder under the Mortgage Loan Documents as a result
of (1) the making of any protective Advances or (2) interest accruals or accretions and any compounding thereof (including default
interest) with respect to the Notes shall not at any time be deemed to require prior notice to the Directing Holder (except as
otherwise expressly required by this Agreement) or otherwise contravene this subsection. To the extent the Mortgage Loan Borrowers
request or the Servicer or Special Servicer structures, as part of a workout or otherwise, an extension of the Mortgage Loan for
two or more years beyond the Maturity Date, the Servicer or Special Servicer, as applicable, shall obtain the prior written consent
of the Lead Securitization Note Holder (in the same manner as the Directing Holder) in addition to the consent of the Directing
Holder. The provisions of this Section 21(c) shall be of no further force and effect from and after the Lead Securitization
Date, and the analogous provisions of the Servicing Agreement shall control.

 

(d)      
With respect to any proposed action requiring consultation with or approval of the Directing Holder pursuant to Section 21(b),
the Lead Securitization Note Holder (or the Servicer on its behalf) shall prepare a summary of such proposed action and an analysis
of whether or not such action is reasonably likely to produce a greater recovery on a present value basis than not taking such
action, setting forth the basis on which the Lead Securitization

 

    
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	Co-Lender Agreement
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Note Holder (or the Servicer on its behalf) made such determination,
and shall promptly provide to each Holder copies of such summary and any other material documents and items reasonably necessary
to make such determination by hard copy or electronic means on a timely basis. If any such proposed action is disapproved by the
Directing Holder, the Servicer shall propose an alternate action (based on any counter-proposals received from the Directing Holder,
to the extent such counter-proposal is consistent with Section 21(d) or, if no such counter-proposal is received by
the Servicer when the disapproval of the Directing Holder is delivered to the Servicer, then based on any alternate course of
action that the Lead Securitization Note Holder (or the Servicer on its behalf) may deem appropriate) until the approval of the
Directing Holder is obtained; provided that if the Servicer and Directing Holder do not agree on a proposed course of action within
sixty (60) days after the date on which the Servicer first proposed a course of action and the counter-proposals received from
the Directing Holder would, in the judgment of the Special Servicer, be permitted to be ignored by the Special Servicer in accordance
with clause (d) below, then after giving due consideration (subject to Section 21(d) hereof) to the alternatives and
counterproposals, if any, provided by the Directing Holder the Lead Securitization Note Holder (or the Servicer on its behalf)
shall take such action as it deems appropriate in accordance with Accepted Servicing Practices. Notwithstanding the foregoing,
if in accordance with Accepted Servicing Practices, (i) the Lead Securitization Note Holder (or the Servicer on its behalf) determines
that emergency action is necessary to protect the Mortgaged Properties or the interests of the Holders (as a collective whole)
at a time earlier than the time that such Servicer would otherwise be entitled to take such action pursuant to this Section
21(d) or otherwise under this Agreement and (ii) such action requires consultation with and/or consent of the Directing Holder,
then it shall contact the Directing Holder (by telephone, email or fax) promptly and shall discuss (unless the Directing Holder
and the Lead Securitization Note Holder, as applicable, shall fail to respond in a reasonable time frame under the circumstances)
the proposed action with such Directing Holder and the Lead Securitization Note Holder, as applicable, and, if the consent of
the Directing Holder would ordinarily be required, attempt to reach agreement within the revised time frame prior to taking the
proposed action, but shall be entitled to take the necessary emergency action within the necessary time frame regardless of whether
it has been able to contact or obtained the agreement of the Directing Holder and the Lead Securitization Note Holder. If such
emergency action is taken, the Lead Securitization Note Holder (or the Servicer on its behalf) will promptly notify the Directing
Holder of the action so taken, the Servicer’s reasons for determining that immediate action was necessary and how the action
differs from the proposed actions, if any, that had theretofore been approved by the Directing Holder. The provisions of this
Section 21(d) shall be of no further force and effect from and after the Lead Securitization Date, and the analogous provisions
of the Servicing Agreement shall control.

 

(e)       
The Lead Securitization Note Holder (or the Servicer on its behalf) shall be required to provide copies to each Non-Controlling
Holder of any notice, information and report that is required to be provided to the Directing Holder pursuant to the Servicing
Agreement with respect to any Major Decisions within the same time frame such notice, information and report is required to be
provided to the Directing Holder, and the Special Servicer shall be required to consult with each Non-Controlling Holder on a
strictly non-binding basis, to the extent having received such notices, information and reports, any Non-Controlling

 

    
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	(Cambridge Crossing – 350 and 450 Water Street)

     

    

 

Holder requests
consultation with respect to any such Major Decisions, and consider alternative actions recommended by such Non-Controlling Holder;
provided that after the expiration of a period of ten (10) Business Days from the delivery to any Non-Controlling Holder by the
Lead Securitization Note Holder (or the Servicer on its behalf) of written notice of a proposed action, together with copies of
the notice, information and reports, the Lead Securitization Note Holder (or the Servicer on its behalf) shall no longer be obligated
to consult with such Non-Controlling Holder, whether or not such Non-Controlling Holder has responded within such ten (10) Business
Day period (unless, the Servicer 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 each Non-Controlling Holder set forth in the immediately
preceding sentence, the Lead Securitization Note Holder (or the Servicer on its behalf) may take any Major Decision before the
expiration of the aforementioned ten (10) Business Day period if the Lead Securitization Note Holder (or the Servicer on its behalf)
determines that immediate action with respect thereto is necessary to protect the Mortgaged Properties or the interests of the
Holders (as a collective whole).

 

In
addition to the consultation rights provided in the immediately preceding paragraph, each Non-Controlling Holder shall have the
right to attend annual meetings (which may be held telephonically or in person, at the discretion of the Servicer) with the Lead
Securitization Noteholder (or the Servicer on its behalf), upon reasonable notice and at times reasonably acceptable to the (or
the Servicer on its behalf) in which servicing issues related to the Mortgage Loan are discussed.

 

(f)       
Notwithstanding anything herein to the contrary, no advice, direction or objection from or by the Directing Holder, as contemplated
by this Section 21, or no advice, direction or objection, if any, from or by any Non-Controlling Holder, may (and
the related Holder (or the Servicer on its behalf) shall ignore and act without regard to any such advice, direction or objection
that such Holder (or Servicer on its behalf) has determined, in its reasonable, good faith judgment, would): (A) require or cause
such Holder (or the Servicer on its behalf) to violate applicable law, the terms of the Mortgage Loan Documents or any section
of this Agreement or any Servicing Agreement, including such Servicer’s obligation to act in accordance with Accepted Servicing
Practices, (B) result in the imposition of federal income tax on any Securitization Trust, cause any REMIC to fail to qualify
as a REMIC, (C) expose any Securitization Trust, any certificateholder of any related Securitization, the Depositor or the depositor
of any Non-Lead Securitization, the Holders, the Servicer, the Trustee or the trustee of any Non-Lead Securitization, the Certificate
Administrator or any certificate administrator of any Non-Lead Securitization, the operating advisor of any Non-Lead Securitization
or their respective Affiliates, members, managers, officers, directors, employees or agents, to any material claim, suit or liability
or (D) materially expand the scope of the Servicer’s responsibilities under this Agreement or the related Servicing Agreement.

 

(g)      
No Controlling Holder or Directing Holder shall owe any fiduciary duty to the trustee, any servicer, any special servicer, any
certificateholder in any Securitization or the other Holders. No Controlling Holder or Directing Holder shall have any liability
to any of the trustee, any servicer, any  special servicer, any certificateholder in any Securitization or the other 

 

    
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Holders for any action taken, or for refraining
from the taking of any action or the giving of any consent. Each Holder (by acceptance of its Note) acknowledges and agrees that
(i) the Controlling Holder and the Directing Holder may each have relationships and interests that conflict with those of
certificateholders in any Securitization and/or the other Holders; (ii) the Controlling Holder and the Directing Holder may
act solely in their respective interests; (iii) the Controlling Holder and the Directing Holder do not have any duties to
any Securitization Trust, the certificateholders in any Securitization or the other Holders; (iv) each of the Controlling
Holder and the Directing Holder may take actions that favor interests of itself over the interests of the certificateholders in
any Securitization and/or the other Holders; (v) neither the Controlling Holder nor the Directing Holder will have any liability
whatsoever to any Securitization Trust, any party to the Lead Securitization Servicing Agreement, any party to any Non-Lead Securitization
Servicing Agreement, the certificateholders in any Securitization or the other Holders or any other person (including the Borrowers)
for having acted in accordance with or as permitted under the terms of the Lead Securitization Servicing Agreement and this paragraph;
and (vi) the certificateholders in any Securitization or the other Holders may not take any action whatsoever against the
Controlling Holder or the Directing Holder or any of the respective affiliates, directors, officers, shareholders, members, partners,
agents or principals thereof as a result of the Controlling Holder or the Directing Holder having acted in accordance with the
terms of and as permitted under the Lead Securitization Servicing Agreement and this paragraph.

 

(h)      
The Controlling Holder 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 such replacement
Special Servicer shall be a Qualified Servicer in accordance with this Section 21(h). The Controlling Holder shall designate
a Person to serve as Special Servicer by delivering to the Non-Controlling Holders, the Servicer and the then existing Special
Servicer a written notice stating such designation and by satisfying the other conditions required under the Servicing Agreement
(including a Rating Agency Confirmation, if required by the terms of the Servicing Agreement), and by delivering to Holder that
is a Non-Lead Securitization a Rating Agency Confirmation with respect to any rated securities issued in such Non-Lead Securitization.
The Controlling Holder shall promptly pay any expenses incurred by the Lead Securitization Note Holder (or the Servicer on its
behalf) in connection with such replacement. The Controlling 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 21(h).
The fees payable to any replacement Special Servicer contemplated in this Section 21(h) at any time, from and after
the Lead Securitization, when the Lead Securitization Servicing Agreement is no longer in effect, shall be at then market rates
for such services. Upon the occurrence of the Lead Securitization governing the servicing of the Mortgage Loan, the initial Special
Servicer designated in the applicable Lead Securitization Servicing Agreement shall serve as the initial Special Servicer. If
a Special Servicer Termination Event on the part of the Special Servicer has occurred that affects the Non-Controlling Holder,
the Non-Controlling Holder shall have the right to direct the Trustee (or at any time that the Mortgage Loan is no longer included
in a Securitization, the Controlling Holder) to terminate the Special Servicer under the applicable Servicing Agreement solely
with respect to the Mortgage Loan pursuant to

 

    
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and in accordance with the terms of the Servicing Agreement. The Controlling Holder
and the Non-Controlling Holder 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 the Non-Controlling Holder’s direction cannot at any
time be the person (or an Affiliate thereof) that was so terminated without the prior written consent of the Non-Controlling Holder.
From and after the Lead Securitization Date, the termination and replacement of the Special Servicer shall be governed by the
Lead Securitization Servicing Agreement.

 

(i)        
[Reserved.]

 

(j)        
Notwithstanding the foregoing, within ten (10) Business Days after receipt by the Note B-1 Holder, the Note B-2 Holder, the Note
B-3 Holder or the Note B-4 Holder of notice indicating that such Note B Holder is no longer the Controlling Holder, such Note
B Holder may, at its option, post with the Lead Securitization Note Holder (or, if a Securitization has occurred, with the applicable
Master Servicer, Special Servicer, or Trustee) (a) cash collateral for the benefit of, and reasonably acceptable to the Lead
Securitization Note Holder, the Servicer or the Special Servicer, as the case may be, or (b) a Letter of Credit (in each
case, if there has been a Securitization, together with documentation reasonably acceptable to the Lead Securitization Note Holder,
the Servicer or the Special Servicer to create and perfect a first priority security interest in favor of the Securitization in
such collateral) (to be held by Lead Securitization Note Holder in a segregated securities account solely and exclusively in the
name of each Note A Holder, meeting the Rating Agency criteria for an “eligible account” on behalf of each Note A
Holder) in an amount which, when added to and for this purpose considered a part of the appraised value of the Mortgaged Properties,
will cause the related Note B Holder to remain the Controlling Holder (such cash or Letter of Credit, “Reserve Collateral”).
The applicable Note B Holder may make such election upon written notice to the Lead Securitization Note Holder of its intention
to post Reserve Collateral, and upon notifying Lead Securitization Note Holder of such intention, such Note B Holder shall post
such Reserve Collateral as quickly as practicable (but in no event more than three (3) Business Days following the receipt of
the above notice) by delivering such Reserve Collateral to Lead Securitization Note Holder. The applicable Note B Holder shall
grant to and create in favor of each Note A Holder a first priority perfected pledge and security interest in the Reserve Collateral
in a manner reasonably satisfactory to Lead Securitization Note Holder. Lead Securitization Note Holder will require an opinion,
in form and substance and from counsel reasonably acceptable to Lead Securitization Note Holder, regarding the validity, perfection
and priority of each Note A Holder’s interest in any Reserve Collateral. In addition, the applicable Note B Holder shall
pay or cause to be paid any and all reasonable out of pocket costs and expenses incurred by each Note A Holder (and any servicing
party on its behalf) associated with the delivery and/or pledge of such Reserve Collateral, including the costs and expenses of
any opinion of counsel. Upon the posting of such Reserve Collateral and satisfaction of the other conditions set forth above,
the applicable Note B Holder shall be entitled to exercise all of the rights of the Controlling Holder hereunder; provided, however,
that such posting of such collateral and such satisfaction of conditions shall not prevent such Note B Holder from losing its
status as the Controlling Holder again (provided that such collateral shall be taken into account in determining the Mortgaged
Properties’ value when calculating whether such Note B Holder is no longer the Controlling Holder), in which

 

    
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 event the foregoing
provisions of this paragraph shall not again apply and such Note B Holder shall not again be entitled to post Reserve Collateral.
Any Reserve Collateral shall be treated as an “outside reserve fund” for purposes of the REMIC provisions of the Internal
Revenue Code of 1986, as amended, and such property (and the right to reimbursement of any amounts with respect thereto from a
REMIC) shall be beneficially owned by such Note B Holder, who shall be taxed on all income with respect thereto. The provisions
of this Section 21(j) shall be of no further force and effect from and after the Lead Securitization Date.

 

(k)      
Following a Final Recovery Determination with respect to the Mortgage Loan and application of all proceeds of the liquidation
of the Mortgage Loan, the Mortgaged Properties or any REO Property, the Lead Securitization Note Holder (or the Servicer on its
behalf) shall be entitled to draw on or liquidate the Reserve Collateral and apply the proceeds thereof to reimburse each Note
A Holder for any Trust Fund Expense or Realized Loss borne or experienced by each Note A Holder, plus interest thereon from the
date such Trust Fund Expenses or Realized Loss was borne or experienced to the date of reimbursement. Within ten (10) Business
Days following such Final Recovery Determination and application, the Lead Securitization Note Holder (or the Servicer on its
behalf) shall pay any remaining portion of such proceeds of the Reserve Collateral to the Note B Holder. The provisions of this
Section 21(k) shall be of no further force and effect from and after the Lead Securitization Date.

 

(l)        
Notwithstanding the foregoing, if a Letter of Credit is posted as Reserve Collateral, then the related Note B Holder shall provide
a replacement Letter of Credit from an Approved Bank in form and substance satisfactory to Lead Securitization Note Holder and
each of such Rating Agencies (i) at least fifteen (15) Business Days before the expiration of the delivered Letter of Credit,
and (ii) if the issuer of such Letter of Credit is at any time not an Approved Bank, within five (5) Business Days following written
notice from Lead Securitization Note Holder to such effect. If the related Note B Holder does not effect such a replacement within
the periods set forth in the preceding sentence, the Lead Securitization Note Holder shall be entitled immediately thereupon to
draw on such Letter of Credit to the full extent of the amount then remaining available thereunder, in which case Lead Securitization
Note Holder shall hold the proceeds of such draw as Reserve Collateral and shall be entitled to hold and apply such Reserve Collateral
in the manner and for the purposes otherwise set forth above and below. The provisions of this Section 21(l) shall be of
no further force and effect from and after the Lead Securitization Date.

 

22.      
Further Assurances. Each Holder acknowledges and agrees that each Holder may sell all or any portion of its respective
Note, subject to the rights of the other Holders and the terms of this Agreement, and the related Mortgage Loan Documents in connection
with the related Securitization. At the request and at the sole cost and expense of a requesting Holder, and to the extent not
already required to be provided by the other Holders under this Agreement, each Holder shall reasonably cooperate with such requesting
Holder and take such steps as may be reasonably required by such requesting Holder or any Rating Agency in order to satisfy the
market standards to which the requesting Holder customarily adheres or which may be reasonably required by the Rating Agencies
in connection with the related Securitization. Such cooperation shall include, without limitation, each Holder’s agreement
to:

 

    
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(a)      
execute such amendments to this Agreement as may be requested by the requesting Holder or the Rating Agencies to effect the related
Securitization, provided that no such amendments shall materially and adversely affect any of the rights or remedies granted to
any Note A Holder or Note B Holder hereunder (including, without limitation, the timing and amount of payment and the rights granted
to a “Controlling Holder” or “Directing Holder”) or increase the obligations of such Holder hereunder;

 

(b)      
cooperate with the reasonable requests from third-party service providers engaged by the requesting Holder to obtain, collect,
and deliver information requested or required by such Note A Holder or the Rating Agencies in connection with the Holders, the
Notes or the Mortgage Loan; and

 

(c)       
execute amendments to the Mortgage Loan Documents to further sever the Notes.

 

Notwithstanding
the foregoing, in no event shall any Holder take any action or refrain from taking any action that would violate any law of any
applicable jurisdiction, would be inconsistent with Accepted Servicing Practices or would violate the REMIC Provisions of the
Servicing Agreement or any other provision of this Agreement or the Servicing Agreement.

 

23.      
Reserved.

 

24.      
No Pledge or Loan. This Agreement shall not be deemed to represent a pledge of any interest in the Mortgage Loan by any
one or more Holders to any one or more other Holders, or a loan from any one or more Holders to any one or more other Holders.
The Note B Holder shall have not any interest in any property taken as security for the Mortgage Loan; provided, however,
that if any such property or the proceeds thereof shall be applied in respect of payments due under the Mortgage Loan, then the
Note B Holder shall be entitled to receive its share of such application in accordance with the terms of this Agreement and/or
the Servicing Agreement.

 

25.      
Governing Law; Waiver of Jury Trial. THIS AGREEMENT AND THE RESPECTIVE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER
SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS MADE AND TO BE
PERFORMED ENTIRELY WITHIN SUCH STATE. 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.

 

26.       
Modifications. This Agreement shall not be modified, cancelled or terminated except by an instrument in writing signed
by the parties hereto. The party seeking modification of this Agreement shall be solely responsible for any and all reasonable
expenses that may arise in order to modify this Agreement. Additionally, from and after a Securitization, the Holders shall not
amend or modify this Agreement without first receiving (i) an opinion of counsel experienced in REMIC matters that such amendment
or modification, in and of itself,

 

    
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would not adversely affect the REMIC status of the Mortgage Loan or this Agreement, and (ii)
a Rating Agency Confirmation, except that no Rating Agency Confirmation shall be required in connection with a modification (x)
prior to the Lead Securitization Date, (y) to cure any ambiguity, to correct or supplement any provision herein that may be defective
or inconsistent with any other provisions herein or with the Servicing Agreement, or (z) 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, and
(iii) if such modification, cancellation or termination would adversely affect the rights or materially affect the duties of any
Servicer or Trustee, the written consent of such affected party.

 

27.       
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; provided, that no successors or assigns of any Initial Note
A Holder or Initial Note B Holder shall have any liability for a breach of representation or warranty set forth in this Agreement.
Each Servicer and Trustee (if any) and each servicer and trustee of any Non-Lead Securitization is an intended third-party beneficiary
of this Agreement. Except as provided in Section 8 and the preceding sentence, none of the provisions of this Agreement shall
be for the benefit of or enforceable by any Person not a party hereto or a successor or assign of a party hereto.

 

28.       
Counterparts. This Agreement may be executed in counterparts, each of which when so executed shall be deemed to be an original
and all of which when taken together shall constitute one and the same instrument, and the words “executed,” “signed,”
“signature,” and words of like import as used above and elsewhere in this Agreement or in any other certificate, agreement
or document related to this transaction shall include, in addition to manually executed signatures, images of manually executed
signatures transmitted by facsimile or other electronic format (including, without limitation, “pdf”, “tif”
or “jpg”) and other electronic signatures (including, without limitation, any electronic sound, symbol, or process,
attached to or logically associated with a contract or other record and executed or adopted by a person with the intent to sign
the record). The use of electronic signatures and electronic records (including, without limitation, any contract or other record
created, generated, sent, communicated, received, or stored by electronic means) shall be of the same legal effect, validity and
enforceability as a manually executed signature or use of a paper-based record-keeping system to the fullest extent permitted
by applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic
Signatures and Records Act and any other applicable law, including, without limitation, any state law based on the Uniform Electronic
Transactions Act or the Uniform Commercial Code. Neither this Agreement nor any term hereof may be amended, waived, discharged
or terminated orally, but only by an instrument in writing signed by the party against whom enforcement of the amendment, waiver,
discharge or termination is sought. The headings in this Agreement are for purposes of reference only and shall not limit or otherwise
affect the meaning hereof. This Agreement supersedes all prior discussions and agreements between the parties with respect to
the subject matter hereof and contains the sole and entire agreement between the parties hereto with respect to the subject matter
hereof.

 

    
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29.       
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.

 

30.       
Notices. All notices required hereunder shall be given by (i) telephone (confirmed in writing) or shall be in writing and
personally delivered, (ii) sent by facsimile transmission 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 or, if mailed, upon the earlier
to occur of receipt or the expiration of the fourth (4th) day following the date of mailing.

 

31.       
Holder’s Access to Information. The Lead Securitization Note Holder (or the Interim Servicer) shall provide to the
other Holders and, from and after the Lead Securitization Date, the Lead Securitization Servicing Agreement shall provide that
such other Holders shall have access to, upon written request to the Servicer or the Trustee, as applicable, subject to any restrictions
on the distribution of such information contained in the Lead Securitization Servicing Agreement, (a) a summary of the current
status of principal and interest payments on the Mortgage Loan, (b) copies of the Mortgage Loan Borrowers’ current financial
statements, to the extent in the Servicer’s possession, (c) the most recent appraisal, if any, as to the value of the Mortgaged
Properties, to the extent in the Servicer’s possession, (d) a copy of the Lead Securitization Servicing Agreement, (e) copies
of any default or acceleration notices sent to the Mortgage Loan Borrowers with respect to the Mortgage Loan and all material
correspondence related thereto, (f) material notices delivered to any Servicer by the Mortgage Loan Borrowers, (g) copies of each
other report provided to the Certificateholders in accordance with the express terms of the Lead Securitization Servicing Agreement
(but only to the extent such other reports relate to the Mortgage Loan or the Mortgage Loan Borrowers), and (h) other information
with respect to the Mortgage Loan Borrowers or the Mortgage Loan, reasonably requested by such other Holder, to the extent required
to be provided by the Servicer under the Lead Securitization Servicing Agreement and in the Servicer’s possession or reasonably
obtainable by the Servicer, in each case at the sole cost and expense of such other Holder, to the extent not included in the
regular fees and charges of the Servicer (with respect to all out-of-pocket and the reasonable administrative and photocopying
costs of the Servicer).

 

32.       
Custody of Mortgage Loan Documents. Prior to the Lead Securitization Date, the originals of all of the Mortgage Loan Documents
(other than the Notes, which will be held by the Holders thereof) will be held by a third-party custodian jointly selected by
the Holders. From and after the Lead Securitization Date, originals of all of the Mortgage Loan Documents (other than the Non-Standalone
Notes not included in the Lead Securitization, which will be held by the Holders thereof) shall be held by the Servicer, Trustee
or custodian on its behalf, or other applicable Person under the Lead Securitization Servicing Agreement.

 

    
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33.       
Statement of Intent. It is the intention of the parties hereto that, for purposes of federal income taxes, state and local
income and franchise taxes and any other taxes imposed upon, measured by or based upon gross or net income, this Agreement shall
be treated as creating a “grantor trust” (within the meaning of Code Section 671). The terms of this Agreement shall
be interpreted to further this intention of the parties. The parties hereto agree that, unless otherwise required by appropriate
tax authorities, the Lead Securitization Note Holder (or the Trustee (if any) or any other party so designated under the Lead
Securitization Agreement on its behalf) shall file or cause to be filed annual or other necessary returns, reports and other forms
consistent with such intended characterization. Each other Holders by its acceptance of its interest herein, agrees, unless otherwise
required by appropriate tax authorities, to file its own tax returns and reports in a manner consistent with such characterization.
If the Internal Revenue Service were to characterize this Agreement as a partnership for federal income tax purposes, then each
such other Holders authorizes and directs the Lead Securitization Note Holder to elect out of partnership accounting pursuant
to Treasury Regulation Section 1.761-2, and agrees to file its own tax returns and reports in a manner consistent therewith.

 

34.       
Powers. Except as expressly provided herein, the grantor trust created pursuant to this Agreement will not engage in any
activity that is inconsistent with the classification of this arrangement as a grantor trust for federal income tax purposes.
Further, this grantor trust shall not (a) acquire any additional assets or (b) modify (or agree to the modification of) or dispose
of its assets other than pursuant to the terms hereof. The grantor trust shall take no action (or fail to take any action) that
will cause it (by the taking or by the failure to take, as the case may be) to be classified as other than a grantor trust for
federal income tax purposes.

 

35.       
Servicers of the Mortgage Loan. KeyBank National Association is hereby appointed by the Holders as the interim servicer
of the Mortgage Loan. From and after the Lead Securitization Date, pursuant to this Agreement and the Lead Securitization Servicing
Agreement, KeyBank National Association will be appointed as the initial master servicer of the Trust Loan and the primary servicer
of the Mortgage Loan and Situs Holdings, LLC will be appointed as the initial special servicer of the Mortgage Loan. Prior to
the Lead Securitization Date, the Lead Securitization Note Holder shall have the right to appoint and remove the Interim Servicer
with or without cause under this Agreement and from and after the Lead Securitization Date, the Lead Securitization Note Holder
shall have the right to appoint and remove the Master Servicer and the Special Servicer in accordance with the terms of the Lead
Securitization Servicing Agreement. All rights and obligations of the Lead Securitization Note Holder described hereunder may
be exercised by the Servicer and/or the Special Servicer (except as set forth in the preceding sentence) and, to the extent applicable,
the Certificate Administrator, the Trustee or the paying agent on behalf of the Lead Securitization Note Holder and the other
Holders agree to cooperate with any such Persons with respect to its exercise of such rights and obligations.

 

36.       
Registration of Transfers. The Lead Securitization Note Holder (or the applicable Servicer or the Trustee on its behalf)
shall maintain a register on which it shall record the names and addresses of, and wire transfer instructions for, the Holders
from time to time, to the extent such information is provided in writing to it by any other Holders. Any transfer of a

 

    
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Note hereunder
shall be recorded on such register. The transferring Holder (or the transferee) shall reimburse the Lead Securitization Note Holder
for the Lead Securitization Note Holder’s reasonable third party out-of-pocket costs and expenses (including reasonable
attorneys’ fees and disbursements) incurred in connection with the terms of this Section 36.

 

37.      
Non-Recourse Obligations of the Holders. Notwithstanding anything to the contrary contained herein or the Servicing Agreement
(but subject to Section 10 and Section 40 hereof), no Holder shall be personally liable hereunder or under the Servicing
Agreement other than to the extent of cash, property or other value realized or derived from its Note either (i) prior to its
disbursement and receipt by the Holder or (ii) after its receipt by the Holder under the circumstances and to the extent provided
under Section 8(b) hereof.

 

38.      
[Reserved.]

 

39.      
Withholding Taxes.

 

(a)       
If the Lead Securitization Note Holder or the Mortgage Loan Borrowers shall be required by law to deduct and withhold Taxes from
interest, fees or other amounts payable to the other Holders with respect to the Mortgage Loan as a result of such Holder constituting
a Non-Exempt Person, the Servicer shall be entitled to do so with respect to such Holder’s interest in such payment (all
withheld amounts being deemed paid to such Holder), provided that the Servicer shall furnish such 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 Holder to seek any allowable credits or deductions for the Taxes so withheld in each jurisdiction in which such
Holder is subject to tax.

 

(b)      
Each Holder shall and hereby agrees to indemnify the Lead Securitization Note Holder (or any Servicer on its behalf) against and
hold the Lead Securitization Note Holder (or any Servicer on its behalf) 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 (or any
Servicer on its behalf) to withhold Taxes from payment made to such Holder in reliance upon any representation, certificate, statement,
document or instrument made or provided by such Holder to the Lead Securitization Note Holder in connection with the obligation
of the Lead Securitization Note Holder (or any Servicer on its behalf) to withhold Taxes from payments made to such Holder, it
being 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 Holder shall, upon request of the Lead Securitization Note Holder
and at its sole cost and expense, defend any claim or action relating to the foregoing indemnification using counsel reasonably
satisfactory to the Lead Securitization Note Holder.

 

(c)      
Each Holder represents to the Lead Securitization Note Holder (for the benefit of the Mortgage Loan Borrowers) that it is not
a Non-Exempt Person and that neither the Lead Securitization Note Holder nor the Mortgage Loan Borrowers are obligated under

 

    
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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 Holder shall deliver
to the Lead Securitization Note Holder, or the Servicer, as applicable, evidence satisfactory to the Lead Securitization Note
Holder substantiating that it 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, (a) if a 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 (b) if a 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 Borrowers
is treated for United States income tax purposes as derived in whole or part from sources within the United States, such 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-8BEN or Form W-8BEN-E, as applicable, or successor forms, as may be required from time to time, duly
executed by such Holder, as evidence of such 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 to each other Holder in respect of its
Note or otherwise until such Holder shall have furnished to the Lead Securitization Note Holder the requested forms, certificates,
statements or documents.

 

40.      
Cooperation in Securitization; Re-Sizing of A Note; Provisions Relating to Securitization.

 

(a)      
In connection with the Lead Securitization or any Non-Lead Securitization, Note B Holders hereby consent to the inclusion in any
disclosure document relating to the Lead Securitization or such Non-Lead Securitization of the identity of the Note B Holders
and the identification of other Persons that control the related B Note (other than the identification of its limited partners
or other non-controlling investors). Note B Holders covenant and agree that in the event any A Note is to be included as an asset
of the Lead Securitization or any Non-Lead Securitization, Note B Holders shall, at the related Initial Note A Holder’s
sole cost and expense (including, without limitation, attorneys’ fees and disbursements reasonably incurred by Note B Holders)
and request, (i) meet with representatives of the Rating Agencies to discuss the business and operations of Note B Holders, (ii)
cooperate with the reasonable requests of each Rating Agency and such Initial Note A Holder in connection with the Lead Securitization
or such Non-Lead Securitization, as well as in connection with all other matters and the preparation of any offering documents
thereof and (iii) review and respond promptly with respect to any information (except as permitted above) relating to Note B Holders
in the Lead Securitization or such Non-Lead Securitization document.

 

(b)      
Notwithstanding any other provision of this Agreement, for so long as any Initial Holder or any affiliate thereof (an “Initial
Holder Entity”) is the owner of an A Note (each, an “Owned Note”), such Initial Holder Entity shall
have the right, subject to the terms of the

 

    
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Mortgage Loan Documents, to cause the Mortgage Loan Borrowers to execute amended and
restated notes or additional notes (in either case, “New Notes”) reallocating the principal of an Owned Note
to such New Notes; or severing an Owned Note into one or more further “component” notes in the aggregate principal
amount equal to the then outstanding principal balance of such 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 such 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 New Notes pay pro rata and on a pari passu basis and such reallocated or component notes shall be automatically
subject to the terms of this Agreement, (iv) the Initial Holder Entity holding the New Notes shall notify the Lead Securitization
Note Holder, the Master Servicer, the Special Servicer, the Certificate Administrator and the Trustee in writing of such modified
allocations and principal amounts, and (v) the execution of such amendments and New Notes does not violate Accepted Servicing
Practices. If the Lead Securitization Note Holder so requests, the Initial Holder Entity holding the New Notes (and any subsequent
holder of such Notes) shall execute a confirmation of the continuing applicability of this Agreement to the New Notes, as so modified.
In connection with the foregoing (provided the conditions set forth in (i) through (v) above are satisfied, with respect to (i)
through (iv), as certified by the applicable Initial Holder Entity, on which certification the Master Servicer can rely), the
Master Servicer is hereby authorized and directed to execute amendments to the Mortgage Loan Documents and this Agreement on behalf
of any or all of the Holders, as applicable, solely for the purpose of reflecting such reallocation of principal.

 

(c)      
The Lead Securitization Note Holder acknowledges and agrees that it shall cause the Lead Securitization Servicing Agreement to
provide that (and, to the extent such provisions are not included in the Lead Securitization Servicing Agreement they shall be
deemed incorporated therein and made a part thereof):

 

(i)      
the Master Servicer, Special Servicer and Trustee for such Lead Securitization shall be required to notify the master servicer,
the special servicer and the trustee under each Non-Lead Securitization Servicing Agreement of the amount of any P&I Advance
it has made with respect to the Standalone Notes included in the Lead Securitization Trust or Property Advances it has made with
respect to the Mortgaged Properties within two (2) Business Days of making any such advance;

 

(ii)      
if the Master Servicer determines that a proposed P&I Advance or Property Advance, if made, or any outstanding P&I Advance
or Property Advance previously made, would be, or is, as applicable, a “nonrecoverable advance,” the Master Servicer
shall provide the servicers under any Non-Lead Securitization Servicing Agreement written notice of such determination within
two (2) Business Days after such determination was made and such determination with regard to any Property Advance shall be binding
on the servicers under the Non-Lead Securitization Servicing Agreement;

 

(iii)     
the Master Servicer shall remit all payments received (or advanced) with respect to each Non-Standalone Note, net of the Servicing
Fee payable with respect to

 

    
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each such Note, and any other applicable fees and reimbursements payable to the Master Servicer, the
Special Servicer and the Trustee, to the Holders of such Notes on or prior to the Remittance Date;

 

(iv)     
with respect to each other Note that is held by a Non-Lead Securitization, the Master Servicer shall make available all reports
constituting the “CREFC® Investor Reporting Package (CREFC® IRP)” (excluding any templates)
pursuant to the terms of the Lead Securitization Servicing Agreement;

 

(v)      
the Master Servicer and Special Servicer shall provide to each Non-Standalone Note Holder all documents and other information
regarding the Mortgage Loan provided to the “Controlling Class Representative” (or analogous term), as such term is
defined in the Lead Securitization Servicing Agreement, pursuant to the terms and conditions of the Lead Securitization Servicing
Agreement at the time provided to such Controlling Class Representative;

 

(vi)     
the servicing duties of each of the Master Servicer and Special Servicer under the Lead Securitization Servicing Agreement shall
include the duty to service the Mortgage Loan and all of the Notes on behalf of the Holders (including the respective trustees
and certificateholders) in accordance with the terms and provisions of this Agreement, the Lead Securitization Servicing Agreement
and Accepted Servicing Practices;

 

(vii)    
the Holders of the Non-Standalone Notes shall be entitled to the same indemnity by the applicable parties to the Lead Securitization
Servicing Agreement with respect to the Mortgage Loan as the applicable parties to the Lead Securitization Servicing Agreement
are provided with respect to the Mortgage Loan under the Lead Securitization Servicing Agreement; the Master Servicer, any primary
servicer, the Special Servicer, the trustee and the certificate administrator shall be required to indemnify each “certification
party” and the depositors under each Non-Lead Securitization Servicing Agreement related to any public Non-Lead Securitization
to the same extent that they indemnify the Lead Securitization “certification party” and depositor for their failure
to deliver the items in clause (viii) below in a timely manner and for any Deficient Exchange Act Deliverable (as defined in the
Lead Securitization Servicing Agreement or any similar term thereto) regarding, and delivered by or on behalf of, such party;

 

(viii)   
with respect to any Non-Lead Securitization that is subject to following reporting requirements under the Securities Act of 1933,
as amended, the Securities Exchange Act of 1934 (including Rule 15Ga-1), as amended, and Regulation AB, (a) the Master Servicer,
any primary servicer, the Special Servicer and the Trustee, certificate administrator or other party acting as custodian under
the Lead Securitization Servicing Agreement shall be required to (1) deliver (and shall be required to cause each other servicer
and servicing function participant (within the meaning of Items 1123 and 1122, respectively, of Regulation AB) retained or engaged
by it to deliver), in a timely manner,

 

    
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(i) the reports, certifications, compliance statements, accountants’ assessments
and attestations, information to be included in reports (including, without limitation, Form 15G, Form 10-K, Form 10-D and Form
8-K), and (ii) upon request, any other materials specified in each of the Non-Lead Securitization Servicing Agreements as the
parties to the applicable Non-Lead Securitization may require in order to comply with their obligations under the Securities Act
of 1933, as amended, Securities Exchange Act of 1934 (including Rule 15Ga-1), as amended, and Regulation AB, and any other applicable
law, and (2) to the extent applicable, to cooperate with any depositor in a Non-Lead Securitization in responding to comments
from the Commission regarding any materials provided by such party in the immediately preceding clause (1), and (b) without limiting
the generality of the foregoing, the Depositor for the Lead Securitization shall provide in a timely manner to the depositor and
the trustee for any Non-Lead Securitization a copy of the Lead Securitization Servicing Agreement and each of the Master Servicer,
the Special Servicer, Trustee, certificate administrator or other party acting as custodian for the Lead Securitization will be
required to provide to the depositor, at the expense of the requesting party, and the trustee for any Non-Lead Securitization,
any other disclosure information required pursuant to Regulation AB or the Securities Exchange Act of 1934, as amended, in a timely
manner for inclusion in any disclosure document or Form 8-K filing and market indemnification agreements, opinions and Regulation
AB compliance letters as were or are being delivered with respect to the Lead Securitization. The Master Servicer, any primary
servicer and the Special Servicer shall each be required to provide certification and indemnification to any Certifying Person
with respect to any applicable Sarbanes-Oxley Certification (or analogous terms) as such terms are defined in the related Non-Lead
Securitization Servicing Agreement;

 

(ix)    
each of the Master Servicer, the Special Servicer, the custodian, the Trustee and the certificate administrator and each Affected
Reporting Party (as defined in the Lead Securitization Servicing Agreement) shall cooperate (and require each Servicing Function
Participant (as defined in the Lead Securitization Servicing Agreement) and Additional Servicer (as defined in the Lead Securitization
Servicing Agreement) retained by it to cooperate under any applicable sub-servicing agreement), with each depositor for a Non-Lead
Securitization (including, without limitation, providing all due diligence information, reports, written responses, negotiations
and coordination, and paying all costs and expenses incurred in connection therewith) to the same extent as such party is required
to cooperate with (and pay the expenses of) the Depositor under the Lead Securitization Servicing Agreement in connection with
Deficient Exchange Act Deliverables (as defined in the Lead Securitization Servicing Agreement);

 

(x)      
amounts received by the Master Servicer that represent late collections or principal prepayments on the Non-Standalone Notes,
net of any portion thereof payable or reimbursable to any third party in accordance with this Agreement, shall be remitted by
the Master Servicer to the Holders of such Non-Standalone Notes within one (1) Business Day of receipt of properly identified
funds; provided, however, to the extent any such amounts are received after 3:00 p.m. Eastern time on any given
Business Day, the Master Servicer shall use commercially reasonable efforts to remit such late collection or

 

    
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principal prepayments
to the master servicer of any applicable Non-Lead Securitization within one (1) Business Day of receipt of properly identified
funds but, in any event, the Master Servicer shall remit such amounts within two (2) Business Days of receipt of properly identified
funds;

 

(xi)     
each Holder of a Non-Standalone Note is an intended third-party beneficiary in respect of the rights afforded them under the Lead
Securitization Servicing Agreement and the related non-lead master servicers will be entitled to enforce the rights of the Holders
of the Non-Standalone Notes under this Agreement and the Lead Securitization Servicing Agreement;

 

(xii)    
each master servicer, special servicer and trustee under any Non-Lead Securitization Servicing Agreement shall be a third-party
beneficiary of the Lead Securitization Servicing Agreement with respect to all provisions therein expressly relating to compensation,
reimbursement or indemnification of such master servicer, special servicer or trustee, as the case may be, and the provisions
regarding coordination of advances made in respect of any Note under the Lead Securitization Servicing Agreement and any Non-Lead
Securitization Servicing Agreement, as applicable;

 

(xiii)   
if the Mortgage Loan becomes a Specially Serviced Mortgage Loan and the Special Servicer determines to sell any of the Standalone
Notes in accordance with the Lead Securitization Servicing Agreement, it shall have the right and the obligation to sell all of
the 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 provide notice to each Non-Controlling Holder of the planned sale and of such Non-Controlling
Holder’s opportunity to bid on the Mortgage Loan;

 

(xiv)   
the Lead Securitization Servicing Agreement shall not be amended in any manner that adversely affects in any material respects
the Non-Standalone Note Holders without the consent of such Holders;

 

(xv)    
to the extent related to the Mortgage Loan, the Master Servicer or the Special Servicer, Rating Agency Confirmation shall be provided
with respect to the Non-Lead Securitization certificates to the same extent provided with respect to the certificates issued in
connection with the Lead Securitization;

 

(xvi)   
Servicer Termination Events (as defined in the Lead Securitization Servicing Agreement or analogous term) with respect to the
Master Servicer and the Special Servicer shall include (i) the failure to remit payments to the Holder of any Non-Standalone Note
as and when required by this Agreement and the Lead Securitization Servicing Agreement; (ii) the qualification, downgrade or withdrawal
of ratings of any class of certificates in any Non-Lead Securitization, publicly citing servicing concerns with the Master Servicer
or the Special Servicer, as applicable, as the sole or material factor in such rating action (and such qualification, downgrade
or withdrawal has not been withdrawn within 60 days of such event); and (iii) the failure to provide to the Holder of any Non-Standalone
Note (if and to the extent required under the Lead

 

    
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Securitization Servicing Agreement) reports required under the Securities Exchange
Act of 1934, as amended, and the rules and regulations thereunder, within the time necessary for compliance in the Lead Securitization
Servicing Agreement (which shall be sufficient for the Holders of the Non-Standalone Notes to comply with the applicable filing
requirements). Upon the occurrence of a Servicer Termination Event with respect to a Holder of any Non-Standalone Note, the related
Trustee under the Lead Securitization shall, upon the direction of the Holder of such Non-Standalone Note, require (i) in the
case of a Servicer Termination Event relating to the Master Servicer, the appointment of a subservicer with respect to the related
Note or (ii) in the case of a Servicer Termination Event relating to the Special Servicer, the termination of the Special Servicer;

 

(xvii)  
the Special Servicing Fee for the Mortgage Loan and any related REO Property shall be calculated at a rate not in excess of 25
basis points (0.25%) per annum and shall accrue only while the Mortgage Loan is specially serviced or after the Mortgaged
Properties have become REO Property;

 

(xviii)
subject to various adjustments and caps provided for in the Lead Securitization Servicing Agreement, the Liquidation Fee for the
Mortgage Loan if it is a Specially Serviced Mortgage Loan or REO Property as to which a Liquidation Fee is payable shall not exceed
0.50% of the proceeds of a full, partial or discounted payoff or the Net Liquidation Proceeds (as defined in the Lead Securitization
Servicing Agreement) related to a liquidation or repurchase of the Mortgage Loan, in each case exclusive of any portion of such
payoff or Net Liquidation Proceeds (as defined in the Lead Securitization Servicing Agreement) that represents Penalty Charges;

 

(xix)   
subject to various adjustments and caps provided for in the Lead Securitization Servicing Agreement, the Workout Fee (as defined
in the Lead Securitization Servicing Agreement) for the Mortgage Loan shall not exceed 0.50% of each collection of interest and
principal on the Mortgage Loan;

 

(xx)     
the Trustee under the Lead Securitization Servicing Agreement shall promptly notify the trustee and the master servicer under
any Non-Lead Securitization Servicing Agreement of any resignation, termination or replacement of the Master Servicer, the Special
Servicer or an applicable primary servicer or the effectiveness of any designation of a new Master Servicer, Special Servicer
or applicable primary servicer (together with the relevant contact information); and

 

(xxi)   
any conflict between terms of this Agreement and the Lead Securitization Servicing Agreement shall be resolved in favor of this
Agreement.

 

(d)     
Each Non-Standalone Note Holder acknowledges and agrees that it shall cause the Non-Lead Securitization Servicing Agreement related
to the Non-Lead Securitization that includes its Non-Standalone Note to provide that:

 

(i)       
the applicable master servicer, special servicer and trustee for such Non-Lead Securitization shall be required to notify the
master servicer, special servicer and

 

    
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trustee of the Lead Securitization and each other Non-Lead Securitization of any monthly
principal and interest advance it has made with respect to the applicable Note included in such Non-Lead Securitization within
two Business Days of making such advance;

 

(ii)      
if the applicable master servicer, special servicer or trustee determines that a proposed monthly principal and interest advance
with respect to the related Note, if made, or any outstanding monthly principal and interest advance previously made, would be,
or is, as applicable, a “nonrecoverable advance,” the master servicer shall provide the Master Servicer and each master
servicer in any other Non-Lead Securitization written notice of such determination within 2 Business Days after such determination
was made;

 

(iii)      
if the related Holder of such Note is responsible for its proportionate share of any Nonrecoverable Property Advances (or any
other portion of a Nonrecoverable Property Advance) (and Advance Interest Amount thereon) or other fee or expense pursuant to
Section 9, and that if funds received with respect to such Note are insufficient to cover such amounts, the related master
servicer under the related Non-Lead Securitization Servicing Agreement will be required to pay the Master Servicer, Special Servicer
or Trustee under the Lead Securitization Servicing Agreement, as applicable, out of general funds in the collection account (or
equivalent account) established under the related Non-Lead Securitization Servicing Agreement (provided that this subclause (iii)
shall not apply to Nonrecoverable P&I Advances relating to any Standalone Notes);

 

(iv)     
each of the Master Servicer and the Special Servicer shall be indemnified (as and to the same extent the Lead Securitization Trust
is required to indemnify each such party) 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 Lead Securitization Servicing Agreement
that relate solely to its servicing of the Mortgage Loan, and the master servicer under the related Non-Lead Securitization Servicing
Agreement will be required to reimburse the Master Servicer or Special Servicer under the Lead Securitization Servicing Agreement,
as applicable, out of general funds in the collection account (or equivalent account) established under the related Non-Lead Securitization
Servicing Agreement;

 

(v)      
(a) each of the Master Servicer and the Trustee under the Lead Securitization Servicing Agreement will be a third party beneficiary
under the applicable Non-Lead Securitization Servicing Agreement with respect to any provisions therein relating to (1) the reimbursement
of any Nonrecoverable Property Advances made with respect to applicable Note included in such Non-Lead Securitization by the Master
Servicer or the Trustee under the Lead Securitization Servicing Agreement and (2) as to the Master Servicer only, the indemnification
of the Master Servicer 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 any Non-Lead Securitization Servicing Agreement and
relating to the applicable Note included in such Non-Lead Securitization and (b) the Special Servicer will be a third party beneficiary
under the related Non-Lead Securitization Servicing Agreement with respect to any 

 

    
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provisions therein relating to (1) the reimbursement
of any Nonrecoverable Property Advances made with respect to such Note included in such Non-Lead Securitization by the Special
Servicer (it being understood that the Special Servicer is not required to make any Property Advances) and (2) the indemnification
of the Special Servicer 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 any Non-Lead Securitization Servicing Agreement and
relating to the applicable Note included in such Non-Lead Securitization; and

 

(vi)      
the Master Servicer and the Special Servicer shall be third party beneficiaries of the foregoing provisions.

 

(e)       
Each Non-Standalone Note Holder shall give each of the parties to the Lead Securitization Servicing Agreement and any related
Non-Lead Securitization Servicing Agreement (in each case, that will not also be a party to such Non-Lead Securitization Servicing
Agreement related to the Non-Lead Securitization that will include such Holder’s Non-Standalone Note) notice of the related
Non-Lead Securitization in writing (which may be by e-mail) not less than 5 Business Days’ prior to the closing of such
Non-Lead Securitization. Such notice shall contain contact information for each of the parties to the applicable Non-Lead Securitization
Servicing Agreement. In addition, after the closing of the applicable Non-Lead Securitization, such Non-Standalone Note Holder
shall send (i) a copy of the related Non-Lead Securitization Servicing Agreement to each of the parties to the Lead Securitization
Servicing Agreement and (ii) notice of any subsequent change in the identity of the master servicer under the Non-Lead Securitization
Servicing Agreement or the party designated to exercise the rights of the Non-Controlling Holder under this Agreement (together
with the relevant contact information).

 

(f)       
Following the closing of the Lead Securitization, upon receipt of written notice (which may be by email) of the closing of any
Non-Lead Securitization, the Depositor shall provide the depositor under the related Non-Lead Securitization Servicing Agreement
with a copy of the Lead Securitization Servicing Agreement in an EDGAR-compatible format.

 

(g)      
In the event that a Non-Lead Securitization closes prior to the Lead Securitization, the Holder selling its Note into a Securitization
that will be the Lead Securitization shall provide written notice of such Lead Securitization to the depositor and trustee of
each Non-Lead Securitization and, promptly upon the execution of the Lead Securitization Servicing Agreement (but not later than
one Business Day after the day on which such document is executed), shall provide a copy of the Lead Securitization Servicing
Agreement in an EDGAR-compatible format.

 

[NO
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IN
WITNESS WHEREOF, each of the Initial Holders has caused this Agreement to be duly executed as of the day and year first above
written.

  

	 	DBR INVESTMENTS CO. LIMITED, as an Initial Note A Holder
	 	 	 
		By:	/s/  Murray Mackinnon
	 	 	Name: Murray Mackinnon
	 	 	Title:   Director

 

		By:	/s/  Andrew Mullin
	 	 	Name: Andrew Mullin
	 	 	Title:   Managing Director

  

	 	BANK
OF AMERICA, N.A., as an Initial Note A Holder
	 	 	 
		By:	/s/  Theresa Dooley-Bollmann
	 	 	Name: Theresa Dooley-Bollmann
	 	 	Title:   Director

 

	 	JPMORGAN
CHASE BANK, NATIONAL ASSOCIATION, as an Initial Note A Holder
	 	 	 
		By:	/s/  Bradley Horn
	 	 	Name: Bradley Horn
	 	 	Title: Executive Director

 

	 	3650
CAL BRIDGE LENDING, LLC, as an Initial Note A Holder
	 	 	 
	 	By:	3650 Bridge Cal-SMA Manager LLC,

                               its Manager

 

		By:	/s/  Tobin Cobb
	 	 	Name: Tobin Cobb
	 	 	Title: Managing Partner

 

    
	 
	Co-Lender Agreement
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	 	DBR
INVESTMENTS CO. LIMITED, as Initial Note B-1 Holder
	 	 	 
		By:	/s/  Murray Mackinnon
	 	 	Name: Murray Mackinnon
	 	 	Title:   Director

 

		By:	/s/  Andrew Mullin
	 	 	Name: Andrew Mullin
	 	 	Title:   Managing Director

  

	 	BANK
OF AMERICA, N.A., as Initial Note B-2 Holder
	 	 	 
		By:	/s/  Theresa Dooley-Bollmann
	 	 	Name: Theresa Dooley-Bollmann
	 	 	Title:   Director

 

	 	JPMORGAN
CHASE BANK, NATIONAL ASSOCIATION,  as Initial Note B-3 Holder
	 	 	 
		By:	/s/  Bradley Horn
	 	 	Name: Bradley Horn
	 	 	Title: Executive Director

 

	 	3650
CAL BRIDGE LENDING, LLC, as Initial Note B-4 Holder
	 	 	 
	 	By:	3650 Bridge Cal-SMA Manager LLC,

                               its Manager

 

		By:	/s/  Tobin Cobb
	 	 	Name: Tobin Cobb
	 	 	Title: Managing Partner

  

      

     

    

 

SCHEDULE
1

Permitted Fund Managers

 

	1.	AllianceBernstein
	2.	Annaly
    Capital Management
	3.	Apollo
    Real Estate Advisors
	4.	Archon
    Capital, L.P.
	5.	AREA
    Property Partners
	6.	Artemis
    Real Estate Partners
	7.	BlackRock,
    Inc.
	8.	Clarion
    Partners
	9.	Colony
    Northstar, Inc.
	10.	DLJ
    Real Estate Capital Partners
	11.	Dune
    Real Estate Partners
	12.	Eightfold
    Real Estate Capital, L.P.
	13.	Five
    Mile Capital Partners
	14.	Fortress
    Investment Group, LLC
	15.	Garrison
    Investment Group
	16.	H/2
    Capital Partners LLC
	17.	Hudson
    Advisors
	18.	Investcorp
    International
	19.	iStar
    Financial Inc.
	20.	J.P.
    Morgan Investment Management Inc.
	21.	JER
    Partners
	22.	Lend-Lease
    Real Estate Investments
	23.	Libermax
    Capital LLC
	24.	LoanCore
    Capital
	25.	Lone
    Star Funds
	26.	Lowe
    Enterprises
	27.	Normandy
    Real Estate Partners
	28.	Och-Ziff
    Capital Management Group
	29.	Praedium
    Group
	30.	Raith
    Capital Partners, LLC
	31.	Rialto
    Capital Management LLC
	32.	Rialto
    Capital Advisors LLC
	33.	Rockpoint
    Group
	34.	Rockwood
	35.	RREEF
    Funds
	36.	Square
    Mile Capital Management
	37.	The
    Blackstone Group
	38.	The
    Carlyle Group
	39.	Torchlight
    Investors
	40.	Walton
    Street Capital, L.L.C.
	41.	Westbrook
    Partners

 

    
	S-1
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	42.	Wheelock
    Street Capital
	43.	Whitehall
    Street Real Estate Fund, L.P.
	 	 

    
	S-2
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EXHIBIT
A

MORTGAGE
LOAN SCHEDULE

 

Part
A. Description of Mortgage Loan

 

	Mortgage
    Loan Borrowers:	DW
    Propco G, LLC; DW Propco H, LLC
	Date
    of Mortgage Loan: 	October
    14, 2021
	Initial
    Principal Amount of Mortgage Loan:	$1,225,000,000
	Closing
    Date Mortgage Loan Principal Balance:	$1,225,000,000
	Location
    of Mortgaged Properties:	Cambridge,
    Massachusetts
	Current
    Use of Mortgaged Properties:	Office
	Mortgage
    Interest Rate:	2.792%
    per annum (the weighted average of the Note Interest Rates for all of the Notes, weighted according to the principal
    balances of the Notes), as of the date hereof
	Mortgage
    Default Rate:	A
    rate per annum equal to (x) with respect to Note A, the lesser of (i) the Maximum Legal Rate (as defined in the Mortgage
    Loan Agreement) or (ii) 5.0% above the interest rate specified in clause (a) of the definitions (as defined in the Mortgage
    Loan Agreement) of “Initial Note A Interest Rate” or “Adjusted Note A Interest Rate”, as applicable,
    and (y) with respect to Note B, the lesser of (i) the Maximum Legal Rate (as defined in the Mortgage Loan Agreement) or (ii)
    5.0% above the interest rate specified in clause (a) of the definitions (as defined in the Mortgage Loan Agreement) of “Initial
    Note B Interest Rate” or “Adjusted Note B Interest Rate”, as applicable.
	Anticipated
    Repayment Date:	November
    6, 2031
	Maturity
    Date:	November
    6, 2036

 

    
	A-1
	Co-Lender Agreement
	(Cambridge Crossing – 350 and 450 Water Street)

     

    

	 	 
	Prepayment
    Premium:	An
    amount equal to the greater of (i) the Yield Maintenance Amount, or (ii) 1% of the unpaid principal balance of the Notes as
    of the repayment date. “Yield Maintenance Amount” means the present value, as of the Repayment Date, of
    the remaining scheduled payments of principal and interest from the Repayment Date through the Open Prepayment Date (and including
    the balloon payment due on the Maturity Date as if such balloon payment was due on the Open Prepayment Date) determined by
    discounting such payments at the Discount Rate, less the amount of principal being prepaid on the Repayment Date.

 

    
	A-2
	Co-Lender Agreement
	(Cambridge Crossing – 350 and 450 Water Street)

     

    

 

Part
B. Description of Notes

 

	Note	Initial
    Note Principal Balance	Initial
    Percentage Interest (approx.)	Note
    Interest Rate (per annum)	Note
    Default Interest Rate	Initial
    Holder	Standalone
    Note (Yes/No)
	A-1-1

         
	$169,255,102.10	13.82%	2.792%	the
    lesser of (i) the maximum allowable legal rate  and (ii) 5.0% above the Note Interest Rate	DBRI	Yes
	A-1-2

         
	$71,000,000.00	5.80%	2.792%	the
    lesser of (i) the maximum allowable legal rate  and (ii) 5.0% above the Note Interest Rate	DBRI	No
	A-1-3

         
	$64,000,000.00	5.22%	2.792%	the
    lesser of (i) the maximum allowable legal rate  and (ii) 5.0% above the Note Interest Rate	DBRI	No
	A-1-4

         
	$50,000,000.00	4.08%	2.792%	the
    lesser of (i) the maximum allowable legal rate  and (ii) 5.0% above the Note Interest Rate	DBRI	No
	A-1-5

         
	$45,000,000.00	3.67%	2.792%	the
    lesser of (i) the maximum allowable legal rate  and (ii) 5.0% above the Note Interest Rate	DBRI	No
	A-1-6

         
	$35,000,000.00	2.86%	2.792%	the
    lesser of (i) the maximum allowable legal rate  and (ii) 5.0% above the Note Interest Rate	DBRI	No
	A-1-7

         
	$25,000,000.00	2.04%	2.792%	the
    lesser of (i) the maximum allowable legal rate  and (ii) 5.0% above the Note Interest Rate	DBRI	No
	A-1-8

         
	$20,000,000.00	1.63%	2.792%	the
    lesser of (i) the maximum allowable legal rate  and (ii) 5.0% above the Note Interest Rate	DBRI	No
	A-1-9

         
	$4,161,224.43	0.34%	2.792%	the
    lesser of (i) the maximum allowable legal rate  and (ii) 5.0% above the Note Interest Rate	DBRI	No
	A-2-1	$58,163,265.27	4.75%	2.792%	the
    lesser of (i) the maximum allowable legal rate  and (ii) 5.0% above the Note Interest Rate	BANA	Yes
	A-2-2	$50,000,000.00	4.08%	2.792%	the
    lesser of (i) the maximum allowable legal rate  and (ii) 5.0% above the Note Interest Rate	BANA	No
	A-2-3	$30,000,000.00	2.45%	2.792%	the
    lesser of (i) the maximum allowable legal rate  and (ii) 5.0% above the Note Interest Rate	BANA	No
	A-2-4	$25,000,000.00	2.04%	2.792%	the
    lesser of (i) the maximum allowable legal rate  and (ii) 5.0% above the Note Interest Rate	BANA	No
	A-2-5	$2,959,183.71	0.24%	2.792%	the
    lesser of (i) the maximum allowable legal rate  and (ii) 5.0% above the Note Interest Rate	BANA	No
	A-3-1	$29,081,632.63	2.37%	2.792%	the
    lesser of (i) the maximum allowable legal rate  and (ii) 5.0% above the Note Interest Rate	JPMCB	Yes
	A-3-2	$30,000,000.00	2.45%	2.792%	the
    lesser of (i) the maximum allowable legal rate  and (ii) 5.0% above the Note Interest Rate	JPMCB	No
	A-3-3	$23,979,591.86	1.96%	2.792%	the
    lesser of (i) the maximum allowable legal rate  and (ii) 5.0% above the Note Interest Rate	JPMCB	No
	A-4-1	$28,500,000.00	2.33%	2.792%	the
    lesser of (i) the maximum allowable legal rate  and (ii) 5.0% above the Note Interest Rate	3650
    Cal Bridge	Yes
	A-4-2	$30,000,000.00	2.45%	2.792%	the
    lesser of (i) the maximum allowable legal rate  and (ii) 5.0% above the Note Interest Rate	3650
    Cal Bridge	No

 

    
	A-3
	Co-Lender Agreement
	(Cambridge Crossing – 350 and 450 Water Street)

     

    

 

	Note	Initial
    Note Principal Balance	Initial
    Percentage Interest (approx.)	Note
    Interest Rate (per annum)	Note
    Default Interest Rate	Initial
    Holder	Standalone
    Note (Yes/No)
	A-4-3	$22,900,000.00	1.87%	2.792%	the
    lesser of (i) the maximum allowable legal rate and (ii) 5.0% above the Note Interest Rate	3650
    Cal Bridge	No
	B-1

         
	$244,083,673.47	19.93%	2.792%	the
    lesser of (i) the maximum allowable legal rate and (ii) 5.0% above the Note Interest Rate	DBRI	Yes
	B-2

         
	$83,877,551.02	6.85%	2.792%	the
    lesser of (i) the maximum allowable legal rate and (ii) 5.0% above the Note Interest Rate	BANA	Yes
	B-3

         
	$41,938,775.51	3.42%	2.792%	the
    lesser of (i) the maximum allowable legal rate and (ii) 5.0% above the Note Interest Rate	JPMCB	Yes
	B-4

         
	$41,100,000.00	3.36%	2.792%	the
    lesser of (i) the maximum allowable legal rate and (ii) 5.0% above the Note Interest Rate	3650
    Cal Bridge	Yes

 

    
	A-4
	Co-Lender Agreement
	(Cambridge Crossing – 350 and 450 Water Street)

     

    

 

EXHIBIT
B

NOTICES

 

DBRI
as a Note A Holder:

 

DBR
Investments Co. Limited 

1
Columbus Circle 

New
York, New York 10019 

Attention:
Robert W. Pettinato, Jr. 

Facsimile
No.: (212) 797-4489

 

with
a copy to:

 

DBR
Investments Co. Limited

1 Columbus Circle

New York, New York 10019

Attention: General Counsel

Facsimile No.: (646) 736-5721

 

BANA
as a Note A Holder:

 

Bank
of America, N.A. 

NC1-027-15-01 

214
North Tryon Street 

Charlotte,
North Carolina 28255 

Attention:
Steven L. Wasser 

Email:
steve.l.wasser@bofa.com

 

with
a copy to:

 

W.
Todd Stillerman, Esq. 

Bank
of America Legal Department 

NC1-028-24-02 

150
North College Street 

Charlotte,
North Carolina 28255 

Email:
todd.stillerman@bofa.com

 

and:

cmbsnotices@bofa.com

 

JPMCB
as a Note A Holder:

 

JPMorgan
Chase Bank, National Association

383 Madison Avenue, 31st Floor

New York, New York 10017

Attention: Thomas Nicholas Cassino

 

    
	B-1
	Co-Lender Agreement
	(Cambridge Crossing – 350 and 450 Water Street)

     

    

 

3650
Cal Bridge as a Note A Holder:

 

3650
Cal Bridge Lending, LLC 

2977
McFarlane Road, Suite 300 

Miami,
Florida 33133 

Attention:
Jonathan Roth and Mark A. Jefferis

 

Note
B-1 Holder:

 

DBR
Investments Co. Limited 

1
Columbus Circle 

New
York, New York 10019 

Attention:
Robert W. Pettinato, Jr. 

Facsimile
No.: (212) 797-4489

 

with
a copy to:

 

DBR
Investments Co. Limited 

1
Columbus Circle 

New
York, New York 10019 

Attention:
General Counsel

Facsimile No.: (646) 736-5721

 

Note
B-2 Holder:

 

Bank
of America, N.A. 

NC1-027-15-01 

214
North Tryon Street 

Charlotte,
North Carolina 28255 

Attention:
Steven L. Wasser 

Email:
steve.l.wasser@bofa.com

 

with
a copy to:

 

W.
Todd Stillerman, Esq. 

Bank
of America Legal Department 

NC1-028-24-02 

150
North College Street 

Charlotte,
North Carolina 28255 

Email:
todd.stillerman@bofa.com

 

and:

cmbsnotices@bofa.com

 

    
	B-2
	Co-Lender Agreement
	(Cambridge Crossing – 350 and 450 Water Street)

     

    

 

Note
B-3 Holder:

 

JPMorgan
Chase Bank, National Association

383 Madison Avenue, 31st Floor

New York, New York 10017

Attention: Thomas Nicholas Cassino

 

Note
B-4 Holder:

 

3650
Cal Bridge Lending, LLC 

2977
McFarlane Road, Suite 300 

Miami,
Florida 33133 

Attention:
Jonathan Roth and Mark A. Jefferis

 

    
	B-3
	Co-Lender Agreement
	(Cambridge Crossing – 350 and 450 Water Street)Exhibit
4.9

 

execution
                                        version

 

CO-LENDER AGREEMENT

 

Dated as of October 21, 2021

 

by and between

 

CITI REAL ESTATE FUNDING INC.
(Initial Note A-1 Holder)

 

and

 

CITI REAL ESTATE FUNDING INC.
(Initial Note A-2 Holder)

 

and

 

CITI REAL ESTATE FUNDING INC.
(Initial Note A-3 Holder)

 

Plaza La Cienega

 

 

 

 

TABLE OF CONTENTS

 

	
 

	
 

	
Page

	
 

	
 

	
 

	
Section 1.

	
Definitions

	
1

	
Section 2.

	
Servicing of the Mortgage Loan

	
15

	
Section 3.

	
Priority of Payments

	
26

	
Section 4.

	
Workout

	
27

	
Section 5.

	
Administration of the Mortgage Loan

	
27

	
Section 6.

	
Appointment of Controlling Note Holder Representative and Non-Controlling Note Holder Representative

	
32

	
Section 7.

	
Appointment of Special Servicer

	
34

	
Section 8.

	
Payment Procedure

	
34

	
Section 9.

	
Limitation on Liability of the Note Holders

	
35

	
Section 10.

	
Bankruptcy

	
36

	
Section 11.

	
Representations of the Note Holders

	
36

	
Section 12.

	
Independent Analysis of Each Note Holder

	
37

	
Section 13.

	
No Creation of a Partnership or Exclusive Purchase Right

	
37

	
Section 14.

	
Other Business Activities of the Note Holders

	
37

	
Section 15.

	
Sale of the Notes

	
38

	
Section 16.

	
Registration of the Notes and Each Note Holder

	
40

	
Section 17.

	
Governing Law; Waiver of Jury Trial

	
41

	
Section 18.

	
Submission to Jurisdiction; Waivers

	
41

	
Section 19.

	
Modifications

	
42

	
Section 20.

	
Successors and Assigns; Third Party Beneficiaries

	
42

	
Section 21.

	
Counterparts

	
42

	
Section 22.

	
Captions

	
43

	
Section 23.

	
Severability

	
43

	
Section 24.

	
Entire Agreement

	
43

	
Section 25.

	
Withholding Taxes

	
43

	
Section 26.

	
Custody of Mortgage Loan Documents

	
44

	
Section 27.

	
Cooperation in Securitization

	
44

	
Section 28.

	
Notices

	
45

	
Section 29.

	
Broker

	
46

	
Section 30.

	
Certain Matters Affecting the Agent

	
46

	
Section 31.

	
Reserved

	
47

	
Section 32.

	
Resignation of Agent

	
47

	
Section 33.

	
Resizing

	
47

 

 

-i-

 

 

THIS CO-LENDER AGREEMENT (this “Agreement”), dated as of October 21, 2021 is by and between CITI REAL ESTATE FUNDING INC. (“CREFI” and together with its successors and assigns in interest, in its capacity as initial owner of the Note A-1, the “Initial Note A-1 Holder”, and in its capacity as the initial agent, the “Initial Agent”), CREFI (together with its successors and assigns in interest, in its capacity as initial owner of the Note A-2, the “Initial Note A-2 Holder”, and CREFI (together with its successors and assigns in interest, in its capacity as initial owner of the Note A-3, the “Initial Note A-3 Holder” and, together with the Initial Note A-1 Holder and the Initial Note A-2 Holder, the “Initial Note Holders”).

 

W I T N E S S E T H:

 

WHEREAS, pursuant to the Mortgage Loan Agreement (as defined herein), CREFI originated a certain loan (the “Mortgage Loan”) described on the schedule attached hereto as Exhibit A (the “Mortgage Loan Schedule”) to the mortgage loan borrower described on the Mortgage Loan Schedule (the “Mortgage Loan Borrower”), which was evidenced, inter alia, by one promissory note in the original principal amount of $90,000,000 (the “Original Note”) made by the Mortgage Loan Borrower in favor of CREFI, and secured by a first mortgage (as amended, modified or supplemented, the “Mortgage”) on certain real property located as described on the Mortgage Loan Schedule (the “Mortgaged Property”);

 

WHEREAS, CREFI and the Mortgage Loan Borrower have agreed, pursuant to that certain Note Splitter and Loan Modification Agreement, dated as of October 21, 2021 between such parties, to split the Original Note into (i) one replacement promissory note in the original principal amount of $50,000,000 (“Note A-1”) made by the Mortgage Loan Borrower in favor of the Initial Note A-1 Holder, (ii) one replacement promissory note in the original principal amount of $20,000,000 (“Note A-2”) made by the Mortgage Loan Borrower in favor of the Initial Note A-2 Holder and (iii) one replacement promissory note in the original principal amount of $20,000,000 (“Note A-3” and, collectively with Note A-1 and Note A-2, as each such note is amended, modified, supplemented or split, the “Notes”) made by the Mortgage Loan Borrower in favor of the Initial Note A-3 Holder;

 

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;

 

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 respective meanings ascribed to such terms or any one or more analogous terms 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. 

 

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

 

“Advance Interest Amount” shall mean interest accrued on Advances in accordance with the terms of the Lead Securitization Servicing Agreement.

 

 

 

 

“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 assign or delegate its duties hereunder, provided that at any time that the Lead Securitization Note is included in the Lead Securitization, “Agent” shall mean the Master Servicer as of such time.

 

“Agent Office” shall mean the designated office of the Agent, which office at the date of this Agreement is the office of the Initial Agent listed on Exhibit B hereto, and which 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 Representations Reviewer” shall mean the “asset representations reviewer” under the Lead Securitization Servicing Agreement.

 

“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.

 

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

 

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

 

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

 

“CDO Asset Manager” with respect to any Securitization Vehicle which is a CDO, 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).

 

“Certificate Administrator” shall mean the “certificate administrator” under the Lead Securitization Servicing Agreement.

 

“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.

 

2

 

 

“Commission” shall have the meaning assigned to such term in Section 2(c)(ix).

 

“Conduit” shall have the meaning assigned to such term in Section 15(d).

 

“Conduit Credit Enhancer” shall have the meaning assigned to such term in Section 15(d).

 

“Conduit Inventory Loan” shall have the meaning assigned to such term in Section 15(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, and the terms “Controls”, “Controlling” and “Controlled” shall have meanings correlative to the foregoing.

 

“Controlling Note” shall mean Note A-1.

 

“Controlling Note Holder” shall mean the Note A-1 Holder; provided that for so long as the Note A-1 Holder (or the majority “controlling class” holder or other party assigned the rights to exercise the rights of the Note A-1 Holder) is a Borrower Party, the Note A-1 Holder (and the majority “controlling class” holder or other party assigned the rights to exercise the rights of the Note A-1 Holder) shall not be entitled to exercise any rights it may otherwise have as Controlling Note Holder, and there shall be deemed to be no Controlling Note Holder hereunder. At any time that Note A-1 is included in a Securitization, references to the “Controlling Note Holder” shall mean the Lead Securitization Subordinate Class Representative or any other party assigned the rights to exercise the rights of the “Controlling Note Holder” hereunder, as and to the extent provided in the related Lead Securitization Servicing Agreement.

 

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

 

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

 

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

 

“Depositor” shall mean the depositor under 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.

 

“Exchange Act” shall mean the Securities Exchange Act of 1934, as amended.

 

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

 

3

 

 

“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.

 

“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 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; provided, further, however, that for the purposes of this definition, in the event that 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).

 

“Interested Person” shall mean the Depositor, the Non-Lead Depositor, the Master Servicer, the Non-Lead Master Servicer, the Special Servicer, the Non-Lead Special Servicer, the Non-Lead Trustee, any Mortgage Loan Borrower, any manager of any Mortgaged Property, any independent contractor engaged by any of the foregoing parties, the Operating Advisor, the Non-Lead Operating Advisor, the Controlling Note Holder Representative, the Non-Controlling Note Holder, the Non-Controlling Note Holder Representative, any holder of a related mezzanine loan, or any known Affiliate of any such party described above.

 

“Intervening Trust Vehicle” with respect to any Securitization Vehicle that is a CDO, 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 CDO.

 

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

 

4

 

 

“Lead Securitization” shall mean:

 

(i) during the period from and after the Securitization of any Note other than Note A-1 and prior to the Securitization of Note A-1 in a Securitization Trust, the Securitization with the earliest Securitization Date; provided that, prior to the Securitization of Note A-1, if two or more Notes other than Note A-1 have the earliest Securitization Date and the same Securitization Date but are included in different Securitizations, then the Securitization including the Note(s) with the larger (aggregate) principal balance shall be the Lead Securitization; and

 

(ii) immediately upon the occurrence of and following the Securitization of Note A-1, the Securitization of Note A-1 in a Securitization Trust to be designated by the Initial Note A-1 Holder.

 

“Lead Securitization Date” shall mean the effective date on which the Lead Securitization is consummated.

 

“Lead Securitization Note” shall mean a Note held by the Lead Securitization.

 

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

 

“Lead Securitization Servicing Agreement” shall mean the pooling and servicing agreement executed and delivered in connection with the Lead Securitization; provided, that during any period that the Mortgage Loan is no longer subject to the provisions of the Lead Securitization Servicing Agreement, the “Lead Securitization Servicing Agreement” shall be determined in accordance with the second paragraph of Section 2(a).

 

“Lead Securitization Subordinate Class Representative” shall mean the “Controlling Class Representative” or “Directing Holder” (or any term substantially similar thereto) as defined in the Lead Securitization Servicing Agreement.

 

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

 

“Loan Combination Custodial Account” shall mean the “Loan Combination Custodial Account”, “Companion Distribution Account” or analogous account established for the Mortgage Loan pursuant to the Lead Securitization Servicing Agreement.

 

“Major Decisions” shall have the meaning given to such term or any analogous term in the Lead Securitization Servicing Agreement; provided that, at any time that neither Note is included in the Lead Securitization, “Major Decision” shall mean, collectively,

 

(i)           any proposed or actual foreclosure upon or comparable conversion (which may include acquisitions of an REO Property) of the ownership of properties securing the Mortgage Loan if it comes into and continues in default;

 

5

 

 

(ii)          any modification, consent to a modification or waiver of a monetary term (other than Penalty Charges if the Mortgage Loan is not a Specially Serviced Loan) or material non-monetary term (including, without limitation, a modification with respect to the timing of payments and acceptance of discounted payoffs but excluding waiver of Penalty Charges) of the Mortgage Loan or any extension of the Maturity Date of the Mortgage Loan;

 

(iii)         any sale of the Mortgage Loan (when it is a Defaulted Mortgage Loan) or REO Property (other than in connection with the termination of the Trust Fund) for less than the applicable Purchase Price;

 

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

 

(v)         any release of collateral or any acceptance of substitute or additional collateral for the Mortgage Loan, or any consent to either of the foregoing, other than immaterial condemnation actions and other similar takings or if otherwise required pursuant to the specific terms of the Mortgage Loan and for which there is no lender discretion;

 

(vi)        any waiver of a “due-on-sale” or “due-on-encumbrance” clause with respect to the Mortgage Loan or, if lender consent is required, any consent to such waiver or consent to a transfer of the Mortgaged Property or interests in the Mortgage Loan Borrower or consent to the incurrence of additional debt, other than any such transfer or incurrence of debt as may be effected without the consent of the lender under the related loan agreement or related to an immaterial easement, right of way or similar agreement;

 

(vii)       any property management company changes or franchise changes (in each case, to the extent the lender is required to consent or approve under the Mortgage Loan Documents);

 

(viii)      releases of any escrow accounts, reserve accounts or letters of credit held as performance or “earn-out” escrows or reserves other than those required pursuant to the specific terms of the Mortgage Loan and for which there is no lender discretion;

 

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

 

(x)          the determination of the Special Servicer pursuant to clause (b) or clause (c) of the definition of “Specially Serviced Loan” in the Lead Securitization Servicing Agreement;

 

6

 

 

(xi)         following a default or an event of default with respect to the Mortgage Loan, any acceleration of the Mortgage Loan, or initiation of judicial, bankruptcy or similar proceedings under the Mortgage Loan Documents or with respect to the Mortgage Loan Borrower or Mortgaged Property;

 

(xii)        any modification, waiver or amendment of an intercreditor agreement, co-lender agreement or similar agreement with any mezzanine lender or subordinate debt holder related to the Mortgage Loan, or an action to enforce rights with respect thereto;

 

(xiii)       any determination of an Acceptable Insurance Default;

 

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

 

(xv)       any approval of any casualty insurance settlements or condemnation settlements, and any determination to apply casualty proceeds or condemnation awards to the reduction of the debt rather than to the restoration of the Mortgaged Property.

 

“Master Servicer” shall mean the applicable “master servicer” under the Lead Securitization Servicing Agreement.

 

“Master Servicer Remittance Date” shall have the meaning assigned to such term (or analogous term) in the Lead Securitization Servicing Agreement.

 

“Moody’s” shall mean Moody’s Investors Service, Inc., 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 September 28, 2021, between the Mortgage Loan Borrower, as borrower, and CREFI, 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 Borrower Related Party” shall have the meaning assigned to such term in Section 14.

 

7

 

 

“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.

 

“Non-Controlling Note” shall mean any Note that is not the Controlling Note.

 

“Non-Controlling Note Holder” shall mean the Note Holder that is not the Controlling Note Holder. If the Non-Controlling Note Holder is a Borrower Party, it shall not be entitled to exercise the rights of a Non-Controlling Note Holder under this Agreement.

 

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

 

“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 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 party acting as “asset representations reviewer” (within the meaning of Item 1101(m) of Regulation AB) under the Non-Lead Securitization Servicing Agreement.

 

“Non-Lead Certificate Administrator” shall mean the “certificate administrator” under the Non-Lead Securitization Servicing Agreement.

 

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

 

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

 

“Non-Lead Operating Advisor” shall mean the “trust advisor”, “operating advisor” or other analogous term under the Non-Lead Securitization Servicing Agreement.

 

“Non-Lead Securitization” shall mean the sale by the related Non-Lead Securitization Note Holder of all or a portion of the Non-Lead Securitization Note to a Non-Lead Depositor who will in turn include such portion of the Non-Lead Securitization Note as part of the securitization of one or more mortgage loans.

 

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“Non-Lead Securitization Determination Date” shall mean the “determination date” (or any term substantially similar thereto) as defined in the Non-Lead Securitization Servicing Agreement.

 

“Non-Lead Securitization Note” shall mean the Note that is not a Lead Securitization Note.

 

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

 

“Non-Lead Securitization Servicing Agreement” shall mean from and after the date the Non-Lead Securitization Note is included in the Non-Lead Securitization, the servicing agreement, trust and servicing agreement or pooling and servicing agreement entered into in connection with the Non-Lead Securitization.

 

“Non-Lead Securitization Subordinate Class Representative” shall mean the holders of the majority of the class of securities issued in the Securitization of the Non-Lead Securitization Note designated as the “controlling class” pursuant to the Non-Lead Securitization Servicing Agreement or their duly appointed representative.

 

“Non-Lead Securitization Trust” shall mean the Securitization Trust that holds the Non-Lead Securitization Note.

 

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

 

“Non-Lead Sponsor” shall mean the applicable Note Holder in its capacity as the sponsor with respect to such Note Holder’s Non-Lead Securitization Note in connection with the related Non-Lead Securitization.

 

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

 

“Nonrecoverable Advance” shall have the meaning given thereto or to an analogous term in the Lead Securitization Servicing Agreement.

 

“Nonrecoverable Property Advance” shall have the meaning given thereto or to an analogous term in the Lead Securitization Servicing Agreement.

 

“Note A-1” shall have the meaning assigned to such term in the recitals.

 

“Note A-1 Holder” shall mean the Initial Note A-1 Holder or any subsequent holder of Note A-1, as applicable.

 

“Note A-1 Principal Balance” shall mean, with respect to the Mortgage Loan, at any time of determination, the Initial Note A-1 Principal Balance set forth on the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-1 Holder or reductions in such amount pursuant to Section 3 or 4, as applicable.

 

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“Note A-2” shall have the meaning assigned to such term in the recitals.

 

“Note A-2 Holder” shall mean the Initial Note A-2 Holder or any subsequent holder of Note A-2, as applicable.

 

“Note A-2 Principal Balance” shall mean, with respect to the Mortgage Loan, at any time of determination, the Initial Note A-2 Principal Balance set forth on the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-2 Holder or reductions in such amount pursuant to Section 3 or 4, as applicable.

 

“Note A-3” shall have the meaning assigned to such term in the recitals.

 

“Note A-3 Holder” shall mean the Initial Note A-3 Holder or any subsequent holder of Note A-3, as applicable.

 

“Note A-3 Principal Balance” shall mean, with respect to the Mortgage Loan, at any time of determination, the Initial Note A-3 Principal Balance set forth on the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-3 Holder or reductions in such amount pursuant to Section 3 or 4, as applicable.

 

“Note Holders” shall mean collectively, the Note A-1 Holder, the Note A-2 Holder and the Note A-3 Holder.

 

“Note Pledgee” shall have the meaning assigned to such term in Section 15(c).

 

“Note Register” shall have the meaning assigned to such term in Section 16.

 

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

 

“Operating Advisor” shall mean the “trust advisor”, “operating advisor” or other analogous term under the Lead Securitization Servicing Agreement.

 

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

 

“P&I Advance” shall mean an advance made by a party to either Securitization Servicing Agreement in respect of a delinquent monthly debt service payment on the Note securitized pursuant to such Securitization Servicing Agreement.

 

“Percentage Interest” shall mean, with respect to any Note Holder, a fraction, expressed as a percentage, the numerator of which is the principal balance of the related Note and the denominator of which is the principal balance of the Mortgage Loan.

 

“Permitted Fund Manager” shall mean any Person that on the date of determination is (i) one of the entities on Exhibit C attached hereto and made a part hereof 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 committed capital of at least $250,000,000 and (iii) not subject to a proceeding relating to the bankruptcy, insolvency, reorganization or relief of debtors.

 

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“Pledge” shall have the meaning assigned to such term in Section 15(c).

 

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

 

“Property Advance” shall have the meaning given thereto (or to the term “Servicing Advance”) in the Lead Securitization Servicing Agreement.

 

“Qualified Institutional Lender” shall mean each of the Initial Note Holders and any other U.S. Person that is:

 

(a)          an entity Controlled by, Controlling or under common Control with, or either of, the Initial Note Holders, or

 

(b)          the trustee on behalf of the trust certificates issued pursuant to a master trust agreement involving a CDO 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 CDO or other securitization vehicle are rated 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)           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, or an “accredited investor” within the meaning of Rule 501(a) (1), (2), (3) or (7) of Regulation D under the Securities Act, or

 

(iii)         a Qualified Trustee in connection with (a) a securitization of, (b) the creation of collateralized debt obligations (“CDO”) 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 at least two (2) of the Rating Agencies that assigned a rating to one or more classes of securities issued in connection with that Securitization; (2) in the case of a Securitization Vehicle that is not a CDO, 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”)

 

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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 CDO, the CDO Asset Manager and, if applicable, each Intervening Trust Vehicle that is not administered and managed by a CDO 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

 

(iv)         an investment fund, limited liability company, limited partnership or general partnership having capital and/or capital commitments of at least $250,000,000, 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 (without regard to the capital surplus/equity and total asset requirements set forth below in the definition), 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 $200,000,000 in capital/statutory surplus or shareholders’ equity (except with respect to a pension advisory firm or similar fiduciary) and at least $600,000,000 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)(i), (ii), (iv)(B) or (v) of this definition 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

 

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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 the Mortgage Loan is an asset of one or more Securitizations, “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 Securitizations of the Notes.

 

“Rating Agency Confirmation” shall mean (i) prior to a Securitization, with respect to any matter that each applicable Rating Agency shall have confirmed in writing (which may be in electronic form) that a proposed action, failure to act or other event so specified will not, in and of itself, result in the downgrade, withdrawal or qualification of the then-current ratings assigned by such Rating Agency to any securities issued in connection with any Securitization; provided, however, that a written waiver or other acknowledgment or course of conduct from the Rating Agency indicating its decision not to review the matter for which the Rating Agency Confirmation is sought shall be deemed to satisfy the requirement for the Rating Agency Confirmation from each Rating Agency with respect to such matter, and (ii) after a Securitization, the meaning given thereto or to any analogous term in the Lead Securitization Servicing Agreement including any deemed Rating Agency Confirmation.

 

“Redirection Notice” shall have the meaning assigned to such term in Section 15(c).

 

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

 

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

 

“Required Special Servicer Rating” shall mean with respect to a special servicer (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 is acting as special servicer for one or more loans included in a commercial mortgage loan securitization that was rated by Moody’s within the twelve (12) month period prior to the date of determination, and Moody’s 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, (iv) in the case of DBRS Morningstar, such special servicer is currently acting as a servicer for one or more loans included in a commercial mortgage-backed securitization that was rated by DBRS Morningstar within the twelve (12) month period prior to the date of determination, 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

 

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mortgage securities on watch status citing the continuation of such special servicer as servicer of such commercial mortgage loans as the sole or a material factor in any 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 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.

 

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

 

“Securities Act” shall mean the Securities Act of 1933, as amended.

 

“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, with respect to any Securitization, the effective date on which such Securitization is consummated.

 

“Securitization Servicing Agreement” shall mean the Lead Securitization Servicing Agreement or the Non-Lead Securitization Servicing Agreement, as the context may require.

 

“Securitization Trust” shall mean a trust formed pursuant to a Securitization.

 

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

 

“Servicer” shall mean the Master Servicer or the Special Servicer, as the context may require.

 

“Servicer Termination Event” shall have the meaning assigned to such term in 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, any analogous concept under the servicing agreement pursuant to which the Mortgage Loan is being serviced in accordance with the terms of this Agreement.

 

“Servicing Standard” shall have the meaning given thereto in the Lead Securitization Servicing Agreement (or other analogous term under the Lead Securitization Servicing Agreement); provided that the Servicing Standard shall require, among other things, that each Servicer, in servicing the Mortgage Loan, must take into account the interests of each Note Holder.

 

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

 

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“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 15.

 

“Trustee” shall mean the “trustee” under 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 in each case to this Agreement, the Mortgage Loan shall be serviced from and after the Lead Securitization Date, pursuant to the Lead Securitization Servicing Agreement; provided that the Master Servicer shall not be obligated to advance monthly payments of principal or interest in respect of any Note other than the Lead Securitization Note if such principal or interest is not paid by the Mortgage Loan Borrower but shall be obligated to advance delinquent real estate taxes, insurance premiums and other expenses related to the maintenance of the Mortgaged Property and maintenance and enforcement of the lien of the Mortgage thereon, subject to the terms of the Lead Securitization Servicing Agreement (including a determination of recoverability thereunder). Each Note Holder acknowledges that the other Note Holder may elect, in its sole discretion, to include its Note in a Securitization and agrees that it will, subject to Section 27, reasonably cooperate with such other Note Holder, at such other Note Holder’s expense, to effect such Securitization. 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 Certificate Administrator, the Operating Advisor and the Trustee under the Lead Securitization Servicing Agreement by the Depositor, and the appointment of the Special Servicer as the initial Special Servicer under the Lead Securitization Servicing Agreement by the Depositor (subject to replacement by the Controlling Note Holder as provided herein) 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 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 the 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 or limit the Servicer in enforcing the rights of one Note

 

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Holder against the other Note Holder; however, this statement shall not be construed to otherwise limit the rights of one Note Holder with respect to the other Note Holder. Each Servicer shall be required pursuant to the Lead Securitization Servicing Agreement to service the Mortgage Loan in accordance with the Servicing Standard, the terms of the Mortgage Loan Documents, the Lead Securitization Servicing Agreement and applicable law, and shall not take any action or refrain from taking any action or follow any direction inconsistent with the foregoing.

 

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 Holders, pursuant to a servicing agreement that has servicing terms substantially similar to the Lead Securitization Servicing Agreement and all references herein to the “Lead Securitization Servicing Agreement” shall mean such subsequent servicing agreement; provided, however, that the Notes that constituted the Lead Securitization Note shall continue to be considered as the Lead Securitization Note; provided further, however, that unless otherwise agreed to by the holder of the Lead Securitization Note, the master servicer under such subsequent servicing agreement shall not be required to make any P&I Advance in respect of such Note; provided further, however, that if the Non-Lead Securitization Note is in a Securitization, then a written confirmation shall have been obtained from each Rating Agency rating such Securitization that the appointment of the servicer(s) pursuant to such servicing agreement would not, in and of itself, cause a downgrade, qualification or withdrawal of the then-current ratings assigned to the securities issued in connection with such Securitization; provided, further, however, that 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 (excluding, however, any obligation to make any P&I Advances in respect of the Lead Securitization Note except as specifically agreed to by the Servicer, and provided that the Servicer’s right to reimbursement for Property Advances as set forth in Section 2(b) shall remain in effect) 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 (and, in the case of the Special Servicer, that satisfies the Required Special Servicer Rating).

 

(b)          The Master Servicer shall be the lead 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 Property 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 Note, 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, will be entitled to reimbursement for a Property Advance, first from funds on deposit in the Loan Combination Custodial Account for the Mortgage Loan that (in any case) represent amounts received on or in respect of the Mortgage Loan in the manner provided in the Lead Securitization Servicing Agreement, and then, in the case of Nonrecoverable Property Advances, if such funds on deposit in the Loan Combination Custodial Account are insufficient, from general collections of the Lead Securitization as provided in the Lead Securitization Servicing Agreement and from general collections of the Non-Lead Securitization as provided below. The Master Servicer, the Special Servicer and the Trustee, as

 

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applicable, will be entitled to reimbursement for Advance Interest Amounts on a Property Advance or a Nonrecoverable Property Advance, in the manner and from the sources provided in the Lead Securitization Servicing Agreement, including from general collections of the Lead Securitization and from general collections of the Non-Lead Securitization as provided below. Notwithstanding the foregoing, to the extent the Master Servicer, the Special Servicer or the Trustee, as applicable, obtains funds from general collections of the Lead Securitization as a reimbursement for a Nonrecoverable Property Advance or any Advance Interest Amounts on a Property Advance or a Nonrecoverable Property Advance, the Non-Lead Securitization Note Holder (including from general collections or any other amounts from the Non-Lead Securitization Trust) shall be required to, promptly following notice from the Master Servicer, reimburse the Lead Securitization for its pro rata share of such Nonrecoverable Property Advance or Advance Interest Amounts. 

 

In addition, the Non-Lead Securitization Note Holder (including, but not limited to, the Non-Lead Securitization Trust) shall be required to, promptly following notice from the Master Servicer or the Special Servicer, pay or reimburse the Lead Securitization for the Non-Lead Securitization Note Holder’s pro rata share of any Additional Trust Fund Expenses with respect to the Mortgage Loan or the Mortgaged Property, any other fees, costs or expenses incurred in connection with the servicing and administration of the Mortgage Loan as to which the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Operating Advisor or the Depositor, as applicable, is entitled to be reimbursed pursuant to the Lead Securitization Servicing Agreement, and any fees, costs or expenses related to obtaining a Rating Agency Confirmation, in each case to the extent amounts on deposit in the Loan Combination Custodial Account that are allocated to the Non-Lead Securitization Note are insufficient for reimbursement of such amounts (which such reimbursement shall be made, if the Non-Lead Securitization Note has been included in a Non-Lead Securitization, from general collections or any other amounts from such Non-Lead Securitization Trust). The Non-Lead Securitization 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 other mortgage loans in the Lead Securitization Trust 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 other mortgage loans) 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, and to the extent amounts on deposit in the Loan Combination Custodial Account that are allocated to the Non-Lead Securitization Note are insufficient for reimbursement of such amounts, the Non-Lead Securitization Note Holder shall be required to, promptly following notice from the Master Servicer, the Special Servicer or the Trustee, reimburse each of the applicable Indemnified Parties for its pro rata share of the insufficiency (including, if the Non-Lead Securitization Note has been included in a Non-Lead Securitization, from general collections or any other amounts from such Non-Lead Securitization Trust).

 

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The Non-Lead Master Servicer may be required to make P&I Advances on the Non-Lead Securitization Note, from time to time, subject to the terms of the Non-Lead Securitization Servicing Agreement, the Lead Securitization Servicing Agreement and this Agreement.  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 Non-Lead Master Servicer and the Non-Lead Special Servicer and the 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 Non-Lead Securitization Note based on the information that they have on hand and in accordance with the Non-Lead Securitization Servicing Agreement. The Master Servicer and the Trustee, as applicable, and the Non-Lead Master Servicer or the Non-Lead Trustee shall be required to notify each other servicer and trustee under the Securitizations of the amount of its P&I Advance within two (2) 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 the Non-Lead Master Servicer, the Non-Lead Special Servicer or the Non-Lead Trustee, as applicable (with respect to the Non-Lead Securitization Note), determines that a proposed P&I Advance, if made, would be 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 Property Advance would be non-recoverable or an outstanding Property Advance is or would be non-recoverable, then 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 Non-Lead Master Servicer or the Non-Lead Trustee (as provided in the Non-Lead Securitization Servicing Agreement, in the case of a determination of non-recoverability by the Non-Lead Master Servicer, the Non-Lead Special Servicer or the Non-Lead Trustee) shall notify each other servicer and trustee under the Securitizations, as the case may be, within two (2) Business Days of making such determination. Each of the Master Servicer, the Trustee, the Non-Lead Master Servicer and the Non-Lead Trustee, as applicable, will only be entitled to reimbursement for a P&I Advance that becomes non-recoverable and Advance Interest Amounts thereon first from the Loan Combination Custodial Account from amounts allocable to the Note for which such P&I Advance was made, and then, if funds are insufficient, (i) in the case of the Lead Securitization Note, from general collections of the Lead Securitization Trust, pursuant to the terms of the Lead Securitization Servicing Agreement and (ii) in the case of the Non-Lead Securitization Note, from general collections of the related Securitization Trust, as and to the extent provided in the Non-Lead Securitization Servicing Agreement.

 

(c)          The Lead Securitization Note Holder agrees that it shall cause the Lead Securitization Servicing Agreement to provide as follows (and to the extent such following provisions are not included in the Lead Securitization Servicing Agreement, they shall be deemed incorporated therein and made a part thereof):

 

(i)           the Master Servicer or Trustee shall be required to provide written notice to the Non-Lead Master Servicer and the Non-Lead Trustee of any P&I Advance it has made with respect to the Lead Securitization Note within two (2) Business Days of making such advance; 

 

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(ii)          if the Master Servicer determines that a proposed P&I Advance with respect to the Lead Securitization Note or Property Advance with respect to the Mortgage Loan, if made, or any outstanding P&I Advance or Property Advance previously made, would be, or is, as applicable, a Nonrecoverable Advance, the Master Servicer shall provide the Non-Lead Master Servicer written notice of such determination promptly after such determination was made together with such reports that the Master Servicer delivered to the Special Servicer or Trustee in connection with notification of its determination of nonrecoverability; 

 

(iii)         the Master Servicer shall remit all payments received with respect to the Non-Lead Securitization Note, net of the servicing fees payable to the Master Servicer and Special Servicer with respect to such Non-Lead Securitization Note, and any other applicable fees and reimbursements payable to the Master Servicer, the Special Servicer and the Trustee, to the Non-Lead Securitization Note Holder by the earlier of (x) the Master Servicer Remittance Date (as defined in the Lead Securitization Servicing Agreement) and (y) the Business Day following the “determination date” (or any term substantially similar thereto) as defined in the Non-Lead Securitization Servicing Agreement (such determination date, the “Non-Lead Securitization Determination Date”), in each case as long as the date on which remittance is required under this clause (iii) is at least one (1) Business Day after the scheduled monthly payment date under the Mortgage Loan Agreement, provided, that any late collections received by the Master Servicer after the related due date under the Mortgage Loan shall be remitted by the Master Servicer in accordance with Section 2(c)(xi) below;

 

(iv)         in connection with the expedited remittances contemplated by the preceding clause (iii) and the expedited reporting contemplated by the following clause (v), the Special Servicer shall (x) expedite its delivery of reports to the Master Servicer with respect to the Mortgage Loan or the Mortgaged Property (including the delivery of information contemplated by CREFC® reports that the Special Servicer is required to deliver to the Master Servicer) so that the reports (including CREFC® reports) provided by the Master Servicer to each Non-Lead Securitization Note Holder may include all information contemplated to be included therein for the applicable reporting period, and (y) expedite withdrawals from accounts maintained by it and remittances to the Master Servicer in respect of the Mortgage Loan or the Mortgaged Property so that the Master Servicer’s remittances to each Non-Lead Securitization Note Holder contemplated by the preceding clause (iii) may include all amounts for the applicable collection period;

 

(v)          with respect to the Non-Lead Securitization Note that is held by a Securitization, the Master Servicer agrees to deliver or cause to be delivered or to make available to the Non-Lead Master Servicer all reports required to be delivered by the Master Servicer to the Certificate Administrator and the Trustee under the Lead Securitization Servicing Agreement (which shall include all loan-level reports constituting the CREFC® Investor Reporting Package (IRP)) pursuant to the terms of the Lead Securitization Servicing Agreement, to the extent related to the Mortgage Loan, the Mortgaged Property, the Non-Lead Securitization Note, the Master Servicer, the Special Servicer, the Certificate Administrator or the Trustee, by the earlier of (x) the Master Servicer Remittance Date and (y) the Business Day following the Non-Lead Securitization Determination Date, in each

 

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case so long as the date on which delivery is required under this clause (v) is at least one (1) Business Day after the scheduled monthly payment date under the Mortgage Loan Agreement;

 

(vi)         the Master Servicer and the Special Servicer, as applicable, shall provide (in electronic media) to the Non-Lead Securitization Note Holder all documents, certificates, instruments, notices, reports, operating statements, rent rolls and other information regarding the Mortgage Loan provided by it to any other party to the Lead Securitization Servicing Agreement at the time provided to such other party;

 

(vii)        the servicing duties of each of the Master Servicer and Special Servicer under the Lead Securitization Servicing Agreement shall include the duty to service the Mortgage Loan and all of the Notes on behalf of the Note Holders (including the respective trustees and certificateholders) in accordance with the terms and provisions of this Agreement, the Lead Securitization Servicing Agreement and the Servicing Standard;

 

(viii)       the Non-Lead Securitization Note Holder shall be entitled to the same indemnity as the Lead Securitization Note Holder under the Lead Securitization Servicing Agreement; each of the Master Servicer, the Special Servicer, the Trustee, the Certificate Administrator, the Operating Advisor, the Custodian shall be required to (and shall require any Servicing Function Participant or Additional Servicer engaged by it to) indemnify each Certifying Person and the Non-Lead Depositor, and their respective directors and officers and controlling persons, to the same extent that they indemnify the Depositor (as depositor in respect of the Lead Securitization) and each Certifying Person for (i) its failure to deliver the items in clause (viii) below in a timely manner, (ii) its failure to perform its obligations to the Non-Lead Depositor or the related Non-Lead Trustee under Article XI (or any article substantially similar thereto) of the Lead Securitization Servicing Agreement by the time required after giving effect to any applicable grace period or cure period, (iii) the failure of any Servicing Function Participant or Additional Servicer retained by it (other than an Initial Sub-Servicer) to perform its obligations to such depositor or trustee under such Article XI (or any article substantially similar thereto) of the Lead Securitization Servicing Agreement by the time required and/or (iv) any Deficient Exchange Act Deliverable regarding, and delivered by or on behalf of, such party;

 

(ix)         with respect to the Non-Lead Securitization that is subject to reporting requirements under the Securities Act, the Exchange Act (including Rule 15Ga-1), and Regulation AB, (a) the Master Servicer, any primary servicer, the Special Servicer, the Trustee, the Certificate Administrator or other party acting as custodian for the Lead Securitization shall be required to deliver (and shall be required to cause each other servicer and servicing function participant (within the meaning of Items 1123 and 1122, respectively, of Regulation AB) retained or engaged by it to deliver; provided that such party shall only be required to use commercially reasonable efforts to cause an Initial Sub-Servicer to deliver), in a timely manner (i) the reports, certifications, compliance statements, accountants’ assessments and attestations, and information to be included in reports (including, without limitation, Form ABS-15G, Form 10-K, Form 10-D and Form 8-K), and (ii) upon request, any other materials specified in the Non-Lead Securitization Servicing Agreement, in the case of clauses (i) and (ii), as the Non-Lead Depositor or the

 

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Non-Lead Trustee reasonably believes, in good faith, are required in order for the Non-Lead Depositor or the Non-Lead Trustee to comply with (1) its obligations under the Securities Act, the Exchange Act (including Rule 15Ga-1), Regulation AB and Form SF-3 and (2) any applicable comment letter from the United States Securities and Exchange Commission (the “Commission”) or its obligations with respect to any Deficient Exchange Act Deliverable, (b) without limiting the generality of the foregoing (x) the Depositor or the Lead Securitization Note Holder shall provide or cause to be provided to the Non-Lead Depositor (and to counsel to the Non-Lead Depositor) and the Non-Lead Trustee (1) written notice (which may be by email) in a timely manner (but no later than three (3) Business Days prior to closing) of the occurrence of the Lead Securitization, and (2) no later than the closing date of the Lead Securitization, a copy of the Lead Securitization Servicing Agreement in an EDGAR-compatible format, and (y) the Master Servicer and Special Servicer (or any replacement Master Servicer or Special Servicer, as applicable) shall, upon reasonable prior written request, and subject to the right of the Master Servicer or the Special Servicer, as the case may be, to review and approve such disclosure materials, permit a holder of the Non-Lead Securitization Note to use such party’s description contained in the Lead Securitization prospectus (updated as appropriate by the Master Servicer or Special Servicer, as applicable, at the cost of the Non-Lead Sponsor) or contained in a Lead Securitization Form 8-K), for inclusion in the disclosure materials or a Form 8-K relating to any securitization of the Non-Lead Securitization Note, and (z) the Master Servicer and the Special Servicer (or any replacement Master Servicer or Special Servicer, as applicable), shall provide indemnification agreements, opinions and Regulation AB compliance letters as were or are being delivered with respect to the Lead Securitization (in each case, at the cost of the Non-Lead Sponsor), and (c) in connection with any amendment of the Lead Securitization Servicing Agreement, the Depositor shall provide written notice (which may be by email) of such proposed amendment to the Non-Lead Depositor and the Non-Lead Trustee no later than three (3) Business Days prior to the date of effectiveness of such amendment, and, on the date of effectiveness of such amendment to the Lead Securitization Servicing Agreement, provide a copy of such amendment in an EDGAR-compatible format to the Non-Lead Depositor and the Non-Lead Trustee. The Master Servicer and the Special Servicer shall each be required to provide certification and indemnification to any Certifying Person with respect to any applicable Sarbanes-Oxley Certification with respect to a Non-Lead Securitization;

 

(x)          each of the Master Servicer, the Special Servicer, the Custodian and the Trustee and each Affected Reporting Party shall cooperate (and require each Servicing Function Participant and Additional Servicer retained by it to cooperate under the applicable Sub-Servicing Agreement), with the Non-Lead Depositor (including, without limitation, providing all due diligence information, reports, written responses, negotiations and coordination) to the same extent as such party is required to cooperate with the Depositor under Article XI (or any article substantially similar thereto) of the Lead Securitization Servicing Agreement and in connection with Deficient Exchange Act Deliverables. All respective reasonable out-of-pocket costs and expenses incurred by the Non-Lead Depositor (including reasonable legal fees and expenses of outside counsel to such depositor) in connection with the foregoing (other than those costs and expenses related to participation by the Non-Lead Depositor in any telephone conferences and meetings with the Commission and other costs the Non-Lead Depositor must bear pursuant

 

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to Article XI (or any article substantially similar thereto) of the Lead Securitization Servicing Agreement) and any amendments to any reports filed with the Commission therewith shall be promptly paid by the applicable Affected Reporting Party upon receipt of an itemized invoice from such Non-Lead Depositor;

 

(xi)         any late collections received by the Master Servicer from the Mortgage Loan Borrower that are allocable to the Non-Lead Securitization Note or reimbursable to the Non-Lead Master Servicer or the Non-Lead Trustee shall be remitted by the Master Servicer to the Non-Lead Master Servicer within one (1) Business Day of receipt of properly identified funds; provided, however, that to the extent any such amounts are received after 3:00 p.m. Eastern time on any given Business Day, the Master Servicer shall use commercially reasonable efforts to remit such amounts to the Non-Lead Master Servicer within one (1) Business Day of receipt of properly identified funds but, in any event, the Master Servicer shall remit such amounts within two (2) Business Days of receipt of properly identified funds; and provided, further, that in the event the Master Servicer is in receipt of properly identified funds that are not available to the Master Servicer, the Master Servicer may instead remit such amounts on the same Business Day that such properly identified funds become available to the Master Servicer;

 

(xii)        the Non-Lead Securitization Note Holder is an intended third-party beneficiary in respect of the rights afforded it under the Lead Securitization Servicing Agreement and the Non-Lead Master Servicer shall be entitled to enforce the rights of the Non-Lead Securitization Note Holder under this Agreement and the Lead Securitization Servicing Agreement;

 

(xiii)      the Non-Lead Master Servicer and the Non-Lead Special Servicer shall each be a third-party beneficiary of the Lead Securitization Servicing Agreement with respect to all provisions therein expressly relating to compensation, reimbursement or indemnification of the Non-Lead Master Servicer or the Non-Lead Special Servicer, as the case may be, and the provisions regarding coordination of Advances;

 

(xiv)       if the Mortgage Loan becomes a Defaulted Mortgage Loan and the Special Servicer determines to sell the Lead Securitization Note in accordance with the Lead Securitization Servicing Agreement, it shall have the right and the obligation to sell both of the 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 provide notice to the Non-Lead Master Servicer who shall provide notice to the Non-Controlling Note Holder of the planned sale and of the Non-Controlling Note Holder’s opportunity to submit an offer on the Mortgage Loan;

 

(xv)        the Lead Securitization Servicing Agreement shall not be amended in any manner that materially and adversely affects the Non-Lead Securitization Note Holder without the consent of the Non-Lead Securitization Note Holder;

 

(xvi)       to the extent related to the Mortgage Loan, the Master Servicer or the Special Servicer, Rating Agency Confirmation shall be provided with respect to the commercial mortgage pass-through certificates issued in connection with the Non-Lead

 

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Securitization to the same extent provided with respect to the commercial mortgage pass-through certificates issued in connection with the Lead Securitization;

 

(xvii)      Servicer Termination Events with respect to the Master Servicer and the Special Servicer shall include: (i) solely with respect to the Master Servicer, the failure to timely remit payments to the Non-Lead Securitization Note Holder, which failure continues unremedied for one (1) Business Day following the date on which such payment was to be made; (ii) solely with respect to the Special Servicer, the failure to deposit into any REO Account any amount required to be so deposited within two (2) Business Days after the date such deposit was to be made, or the failure to remit to the Master Servicer for deposit into the Collection Account or the related Loan Combination Custodial Account, as applicable, any amount required to be so remitted by the Special Servicer within one (1) Business Day after the date such remittance was to be made; (iii) the qualification, downgrade or withdrawal, or placing on “watch status” in contemplation of a rating downgrade or withdrawal of the ratings of any class of certificates issued in connection with the Non-Lead Securitization by the Rating Agencies rating such securities (and such qualification, downgrade, withdrawal or “watch status” placement shall not have been withdrawn by such rating agencies within sixty (60) days of actual knowledge of such event by the Master Servicer or the Special Servicer, as the case may be), and publicly citing servicing concerns with the Master Servicer or Special Servicer, as applicable, as the sole or a material factor in such rating action; and (iv) the failure to provide to the Non-Lead Securitization Note Holder (if and to the extent required under the Non-Lead Securitization) reports required under the Exchange Act, and the rules and regulations thereunder, in a timely fashion. Upon the occurrence of such a Servicer Termination Event with respect to the Master Servicer affecting the Non-Lead Securitization Note Holder, if the Master Servicer is not otherwise terminated pursuant to the Lead Securitization Servicing Agreement, the Trustee shall, upon the direction of the Non-Lead Securitization Note Holder, require the appointment of a subservicer with respect to the Non-Lead Securitization Note. Upon the occurrence of a Servicer Termination Event with respect to the Special Servicer affecting the Non-Lead Securitization Note Holder, if the Special Servicer is not otherwise terminated pursuant to the Lead Securitization Servicing Agreement, the Trustee shall, upon direction of the Non-Lead Securitization Note Holder, terminate the Special Servicer with respect to, but only with respect to, the Mortgage Loan; 

 

(xviii) upon any resignation of the Master Servicer or the Special Servicer, any termination of the Master Servicer or Special Servicer and/or any replacement thereof, any appointment of a successor to the Master Servicer or Special Servicer, or the effectiveness of any designation of a new Special Servicer, the Trustee or Certificate Administrator shall promptly (and in any event no later than three (3) Business Days prior to the effective date of such resignation, termination, replacement and/or appointment of a Master Servicer or Special Servicer) provide written notice thereof to the Non-Lead Trustee, the Non-Lead Master Servicer, and the Non-Lead Depositor, together with any information reasonably required (including, without limitation, any disclosure required under Item 1108 of Regulation AB) for the related Non-Lead Securitization to comply with any applicable reporting obligations under the Exchange Act; provided, that such notice shall not be deemed to be provided unless receipt thereof has been confirmed in writing (which may be by email) from the Non-Lead Depositor;

 

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(xix)       if the Non-Lead Securitization Note becomes the subject of an Asset Review pursuant to the Non-Lead Securitization Servicing Agreement, the Master Servicer, the Special Servicer, the Trustee and the Custodian shall reasonably cooperate with the Non-Lead Asset Representations Reviewer in connection with such Asset Review by providing the Non-Lead Asset Representations Reviewer with any documents reasonably requested by the Non-Lead Asset Representations Reviewer, but only to the extent (x) such documents are in the possession of the Master Servicer, the Special Servicer, the Trustee or the Custodian, as the case may be, and (y) the Non-Lead Asset Representations Reviewer has not been able to obtain such documents from the related mortgage loan seller; and

 

(xx)        any conflict between the Lead Securitization Servicing Agreement and this Agreement shall be resolved in favor of this Agreement.

 

(d)          The Non-Lead Securitization Note Holder agrees that it shall cause the Non-Lead Securitization Servicing Agreement to provide as follows (and to the extent such following provisions are not included in the Non-Lead Securitization Servicing Agreement, they shall be deemed incorporated therein and made a part thereof):

 

(i)           the Non-Lead Securitization Note Holder shall be responsible for its pro rata share of any Nonrecoverable Property Advances (and Advance Interest Amounts thereon) and any Additional Trust Fund Expenses, but only to the extent that they relate to servicing and administration of the Notes and the Mortgaged Property, including without limitation, any unpaid Special Servicing Fees, Liquidation Fees and Workout Fees relating to the Notes, and that in the event that the funds received with respect to each respective Note are insufficient to cover such Property Advances or Additional Trust Fund Expenses, (A) the Non-Lead Master Servicer will be required to, promptly following notice from the Master Servicer or the Special Servicer, pay or reimburse the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee or the Lead Securitization Trust, as applicable, out of general funds in the collection account (or equivalent account) established under the Non-Lead Securitization Servicing Agreement for the Non-Lead Securitization Note Holder’s pro rata share of any such Nonrecoverable Property Advances (together with Advance Interest Amounts thereon) and/or other Additional Trust Fund Expenses (including compensation due to the Master Servicer and the Special Servicer to the extent related to the servicing and administration of the Mortgage Loan and the Mortgaged Property), and (B) if the Lead Securitization Servicing Agreement permits the Master Servicer, the Special Servicer, the Certificate Administrator or the Trustee to reimburse itself from the Lead Securitization Trust’s general account, then the Master Servicer, the Special Servicer, the Certificate Administrator or the Trustee, as applicable, may do so, and the Non-Lead Master Servicer will be required to, promptly following notice from the Master Servicer, the Special Servicer or the Trustee, reimburse the Lead Securitization Trust out of general funds in the collection account (or equivalent account) established under the Non-Lead Securitization Servicing Agreement for the Non-Lead Securitization Note Holder’s pro rata share of any such Nonrecoverable Property Advances (together with Advance Interest Amounts thereon) and/or Additional Trust Fund Expenses (including compensation due to the Master Servicer and the Special Servicer to the extent

 

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related to the servicing and administration of the Mortgage Loan and the Mortgaged Property);

 

(ii)          each of the Indemnified Parties shall be indemnified (as and to the same extent the Lead Securitization Trust is required to indemnify each of such Indemnified Parties in respect of other mortgage loans in the Lead Securitization Trust pursuant to the terms of the Lead Securitization Servicing Agreement and, in the case of the Lead Securitization Trust, to the extent of any Additional Trust Fund Expenses with respect to the Mortgage Loan) by the Non-Lead Securitization Trust, against any of the Indemnified Items to the extent of its pro rata share of such Indemnified Items and, to the extent amounts on deposit in the Loan Combination Custodial Account that are allocated to the Non-Lead Securitization Note are insufficient for reimbursement of such amounts, the Non-Lead Master Servicer will be required to reimburse each of the applicable Indemnified Parties for the Non-Lead Securitization Note’s pro rata share of the insufficiency out of general funds in the collection account (or equivalent account) established under the Non-Lead Securitization Servicing Agreement;

 

(iii)        the Non-Lead Master Servicer, Non-Lead Trustee or Non-Lead Certificate Administrator will be required to deliver to the Trustee, the Certificate Administrator, the Special Servicer, the Master Servicer and the Operating Advisor (i) promptly following the Non-Lead Securitization, notice of the deposit of the Non-Lead Securitization Note into a Securitization Trust (which notice may be (x) in the form of delivery (which may be by email) of a copy of the Non-Lead Securitization Servicing Agreement, or (y) by email notification together with contact information for the Non-Lead Trustee, the Non-Lead Certificate Administrator, the Non-Lead Master Servicer, the Non-Lead Special Servicer and the party designated to exercise the rights of the “Non-Controlling Note Holder” under this Agreement), accompanied by a copy of the executed Non-Lead Securitization Servicing Agreement, and (ii) notice of any subsequent change in the identity of the Non-Lead Master Servicer, the Non-Lead Trustee or the party designated to exercise the rights of the “Non-Controlling Note Holder” under this Agreement (together with the relevant contact information) (which may be in the form of email delivery of a copy of any revised Non-Lead Securitization Servicing Agreement); and

 

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

 

(e)          The Lead Securitization Note Holder shall:

 

(i)           on the closing date of the Lead Securitization, send a copy (in EDGAR-compatible format) of the Lead Securitization Servicing Agreement to the other Note Holder; and

 

(ii)         give the other Note Holder written notice (which may be by email) in a timely manner (but no later than one (1) Business Day prior to the applicable filing date) of any re-filing (other than a filing made in connection with a formal amendment of the Lead Securitization Servicing Agreement) by the Depositor of the Lead Securitization

 

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Servicing Agreement subsequent to the Securitization Date if such filing contains revisions or changes that are material to the other Note Holder.

 

Section
3.             Priority of Payments. Each
Note shall be of equal priority, and no portion of either Note shall have priority or preference over any portion of the other
Note or security therefor. 

 

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, Condemnation Proceeds, or Insurance Proceeds (other than 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), but excluding (x) all amounts for required reserves or escrows required by the Mortgage Loan Documents (to the extent, in accordance with the terms of the Mortgage Loan Documents) to be held as reserves or escrows or received as reimbursements on account of recoveries in respect of property protection expenses or Property Advances then due and payable or reimbursable to the Trustee or any Servicer under the Lead Securitization Servicing Agreement and (y) all amounts that are then due, payable or reimbursable (except for (i) any reimbursements of P&I Advances previously made (and interest thereon) on the Lead Securitization Note, and (ii) any Servicing Fees due to the Master Servicer in excess of the Non-Lead Securitization Note’s pro rata share of that portion of such Servicing Fees calculated at the “primary servicing fee rate” (or analogous term) applicable to the Mortgage Loan as set forth in the Lead Securitization Servicing Agreement) to any Servicer or the Trustee, with respect to the Mortgage Loan pursuant to the Lead Securitization Servicing Agreement (including without limitation, any Additional Trust Fund Expenses relating to the Mortgage Loan (but subject to second paragraph of Section 5(e) hereof) reimbursable to, or payable to, such parties and any Special Servicing Fees, Liquidation Fees, Workout Fees, Assumption Fees, Modification Fees, Penalty Charges (to the extent provided in the immediately following paragraph) and any other additional compensation payable pursuant to the Lead Securitization Servicing Agreement), shall be applied by the Lead Securitization Note Holder (or its designee) to the Notes on a Pro Rata and Pari Passu Basis.

 

For clarification purposes, Penalty Charges (as defined in the Lead Securitization Servicing Agreement) paid on each Note shall first, be used to reduce, on a pro rata basis, the amounts payable on each Note by the amount necessary to pay the Master Servicer, the Trustee or the Special Servicer for any interest accrued on any Property Advances and reimbursement of any Property Advances in accordance with the terms of the Lead Securitization Servicing Agreement, second, be used to reduce the respective amounts payable on each Note by the amount necessary to pay the Master Servicer, Trustee, Non-Lead Master Servicer or Non-Lead Trustee for any interest accrued on any P&I Advance made with respect to such Note by such party (if and as specified in the Lead Securitization Servicing Agreement or the Non-Lead Securitization Servicing Agreement, as applicable), third, be used to reduce, on a pro rata basis, the amounts payable on each Note by the amount necessary to pay Additional Trust Fund Expenses (including Special Servicing Fees, unpaid Workout Fees and Liquidation Fees) incurred with respect to the Mortgage Loan (as specified in the Lead Securitization Servicing Agreement) and, finally, be paid to the

 

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Master Servicer and/or the Special Servicer as additional servicing compensation as provided in the Lead Securitization Servicing Agreement.

 

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 Interest 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 equal priorities of each Note as described in Section 3.

 

Section 5.             Administration of the Mortgage Loan.

 

(a)          Subject to this Agreement (including but not limited to Section 5(d)) 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, 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 the Non-Lead Securitization Note Holder shall have no 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, the Non-Lead Securitization Note Holder agrees that it shall have no right to, and the Non-Lead Securitization Note Holder 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 the Non-Lead Securitization 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). 

 

Each 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), upon the Mortgage Loan becoming a Defaulted Mortgage Loan, to sell the Notes as

 

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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 the Notes together in such manner as will be reasonably likely to realize a fair price. Subject to the other provisions of this paragraph and the two following paragraphs and the applicable provisions of the Lead Securitization Servicing Agreement, the Special Servicer shall accept the first (and, if multiple offers are contemporaneously received, the highest) cash offer received from any Person that constitutes a fair price for such Defaulted Mortgage Loan. The Special Servicer shall notify the Controlling Note Holder Representative and the Non-Controlling Note Holder Representative of any inquiries or offers received regarding the sale of such Defaulted Mortgage Loan.

 

Whether any cash offer constitutes a fair price for the Mortgage Loan shall be determined by the Special Servicer, if the highest offeror is a Person other than an Interested Person, and by the Trustee, if the highest offeror is an Interested Person (provided that the Trustee may not be an offeror) unless (i) the offer is equal to or greater than the applicable Purchase Price, (ii) the offer is the highest offer received and (iii) at least two other offers are received from independent third parties; provided, however, that no offer from an Interested Person shall constitute a fair price unless (i) it is the highest offer received and (ii) at least two other offers are received from independent third parties. In all cases under this Agreement (except to the extent the Trustee is not required to determine whether any cash offer constitutes a fair price for the Mortgage Loan pursuant to the immediately preceding sentence), in determining whether any offer received from an Interested Person represents a fair price for the Mortgage Loan, the Trustee shall be supplied with and shall rely on the most recent Appraisal or updated Appraisal conducted in accordance with the Lead Securitization Servicing Agreement within the preceding 9-month period or, in the absence of any such Appraisal, on a new Appraisal. The appraiser conducting any such new Appraisal shall be an Appraiser selected by (i) the Special Servicer if no Interested Person is making an offer with respect to the Mortgage Loan and (ii) the Trustee if an Interested Person is so making an offer. The cost of any such Appraisal shall be covered by, and shall be reimbursable as, a Property Advance. In determining whether any such offer from a Person other than an Interested Person constitutes a fair price for the Mortgage Loan, the Special Servicer shall take into account (in addition to the results of any Appraisal, updated Appraisal or narrative Appraisal that it may have obtained pursuant to the Lead Securitization Servicing Agreement within the prior 9 months), and in determining whether any offer from an Interested Person constitutes a fair price for the Mortgage Loan, any Appraiser shall be instructed to take into account, as applicable, among other factors, the period and amount of any delinquency on the Mortgage Loan, the occupancy level and physical condition of the related Mortgaged Property and the state of the local economy. The Purchase Price for the Mortgage Loan shall in all cases be deemed a fair price; provided, however, that with respect to Interested Parties, the requirements of the first sentence of this paragraph must be satisfied.  Notwithstanding anything contained in this paragraph to the contrary, if the Trustee is required to determine whether a cash offer by an Interested Person constitutes a fair price, the Trustee may (at its option and at the expense of the Interested Person) designate an independent third party expert in real estate or commercial mortgage loan matters with at least 5 years’ experience in valuing or investing in loans similar to the Mortgage Loan that has been selected with reasonable care by the Trustee to determine if such cash offer constitutes a fair price for the Mortgage Loan. If the Trustee designates such a third party to make such determination, the Trustee will be entitled to rely conclusively upon such third party’s determination. The reasonable costs of all appraisals, inspection reports and broker opinions of value incurred by any such third party pursuant to this paragraph will be covered by,

 

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 and will be reimbursable by the Interested Person; provided that the Trustee will not engage a third party expert whose fees exceed a commercially reasonable amount as determined by the Trustee.

 

Notwithstanding the foregoing, the Lead Securitization Note Holder (or the Special Servicer acting on behalf of the Lead Securitization Note Holder) shall not be permitted to sell the Mortgage Loan if it becomes a Defaulted Mortgage Loan without the written consent of the Non-Controlling Note Holder (provided that such consent is not required if the Non-Controlling Note Holder is the Mortgage Loan Borrower or an Affiliate of the Mortgage Loan Borrower) unless the Special Servicer has delivered to the Non-Controlling 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 the Non-Controlling 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 and the Lead Securitization Subordinate Class Representative) 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 any Servicer in connection with the proposed sale; provided, that such Non-Controlling Note Holder may waive any of the delivery or timing requirements set forth in this sentence. Subject to the terms of the Lead Securitization Servicing Agreement, each of the Controlling Note Holder, the Controlling Note Holder Representative, the Non-Controlling Note Holder and the Non-Controlling Note Holder Representative shall be permitted to submit an offer at any sale of the Mortgage Loan unless such Person is the Mortgage Loan Borrower or an agent or Affiliate of the Mortgage Loan Borrower.

 

The Non-Lead Securitization 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 Securitization Note. The Non-Lead Securitization Note Holder further agrees that, upon the request of the Lead Securitization Note Holder, the Non-Lead Securitization Note Holder shall execute and deliver to or at the direction of the 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 original Non-Lead Securitization 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 Securitization Note, and the obligations of the Non-Lead Securitization Note Holder to execute and deliver instruments or deliver the Non-Lead Securitization 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 Note is repurchased by the Person that sold such Lead Securitization Note into the Lead Securitization from the Lead Securitization Trust in connection with a material breach of representation or warranty made by such Person with respect to the Lead Securitization Note or material document defect with respect to the documents delivered by such Person with respect to the Lead Securitization Note upon the consummation of

 

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the Lead Securitization. The preceding sentence shall not be construed to grant to the Non-Lead Securitization Note Holder the benefit of any representation or warranty made by the Person that sold such Lead Securitization Note into the Lead Securitization or any document delivery obligation imposed on such Person under any mortgage loan purchase and sale agreement, instrument of transfer or other document or instrument that may be executed or delivered by such Person in connection with the Lead Securitization.

 

(b)          The administration of the Mortgage Loan shall be governed by this Agreement and the Lead Securitization Servicing Agreement. The servicing of the Mortgage Loan shall be carried out by the Master Servicer and, if the Mortgage Loan is a Specially Serviced Mortgage Loan (or to the extent otherwise provided in the Lead Securitization Servicing Agreement), by the Special Servicer, in each case pursuant to the Lead Securitization Servicing Agreement. Notwithstanding anything to the contrary contained herein, in accordance with the Lead Securitization Servicing Agreement, the Lead Securitization Note Holder shall cause the Master Servicer and the Special Servicer to service and administer the Mortgage Loan in accordance with the Servicing Standard, taking into account the interests of both Note Holders as a collective whole. The Note Holders agree to be bound by the terms of the Lead Securitization Servicing Agreement. All rights and obligations of the Lead Securitization Note Holder described hereunder may be exercised by the Master Servicer, the Special Servicer, the Certificate Administrator and/or the Trustee on behalf of the Lead Securitization Note Holder. The Lead Securitization Servicing Agreement shall not be amended in any manner that may materially and adversely affect the Non-Lead Securitization Note Holder without the Non-Lead Securitization Note Holder’s prior written consent. The Non-Lead Securitization Note Holder (unless it is the same Person as or an Affiliate of the Mortgage Loan Borrower) shall be a third-party beneficiary to the Lead Securitization Servicing Agreement with respect to its rights as specifically provided for therein.

 

(c)          The Controlling Note Holder (or its Controlling Note Holder Representative) shall have, with respect to the Mortgage Loan, all of the same rights and powers of the Controlling Class Representative under the Lead Securitization Servicing Agreement with respect to the other mortgage loans included in the Lead Securitization, without limitation, the right to consent and/or consult regarding Major Decisions and other servicing matters, the right to advise (1) the Special Servicer with respect to all Specially Serviced Loans and (2) the Special Servicer with respect to non-Specially Serviced Loans as to all matters for which the Master Servicer must obtain the consent or deemed consent of the Special Servicer, and the right to direct the Special Servicer to take, or to refrain from taking, such other actions with respect to the Mortgage Loan as the Controlling Class Representative may deem advisable or as to which provision is otherwise made therein, in each case subject to the terms, conditions and limitations of the Lead Securitization Servicing Agreement.

 

(d)          Notwithstanding the foregoing, the Lead Securitization Note Holder (or the Master Servicer or the Special Servicer acting on its behalf) shall be required (i) to provide copies of any notice, information and report that it is required to provide to the Lead Securitization Subordinate Class Representative pursuant to the Lead Securitization Servicing Agreement with respect to any Major Decisions or the implementation of any recommended actions outlined in an Asset Status Report relating to the Mortgage Loan, to the Non-Controlling Note Holder (or its Non-Controlling Note Holder Representative), within the same time frame it is required to provide

 

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such notice, information or report to the Lead Securitization Subordinate Class Representative (for this purpose, without regard to whether such items are actually required to be provided to the Lead Securitization Subordinate Class Representative under the Lead Securitization Servicing Agreement due to the occurrence of a Control Termination Event or a Consultation Termination Event) and (ii) to consult with the Non-Controlling Note Holder (or its Non-Controlling Note Holder Representative) on a strictly non-binding basis, to the extent having received such notices, information and reports, the Non-Controlling Note Holder (or its Non-Controlling Note Holder Representative) requests consultation with respect to any such Major Decisions or the implementation of any recommended actions outlined in an Asset Status Report relating to the Mortgage Loan, and consider alternative actions recommended by the Non-Controlling Note Holder (or its Non-Controlling Note Holder Representative); provided that after the expiration of a period of ten (10) Business Days from the delivery to the Non-Controlling Note Holder (or its Non-Controlling Note Holder Representative) by the Lead Securitization Note Holder of written notice of a proposed action, together with copies of the notice, information and report that would be required to be provided to the Lead Securitization Subordinate Class Representative as set forth above, the Lead Securitization Note Holder (or the Master Servicer or the Special Servicer acting on its behalf) shall no longer be obligated to consult with the Non-Controlling Note Holder (or its Non-Controlling Note Holder Representative), whether or not the Non-Controlling Note Holder (or its 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 non-binding consultation rights of the Non-Controlling Note Holder (or its Non-Controlling Note Holder Representative) set forth in the immediately preceding sentence, the Lead Securitization Note Holder (or Master Servicer 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 Master Servicer or Special Servicer, as applicable) 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 Master Servicer or Special Servicer, acting on its behalf) be obligated at any time to follow or take any alternative actions recommended by the Non-Controlling Note Holder (or its Non-Controlling Note Holder Representative).

 

In addition to the non-binding consultation rights provided in the immediately preceding paragraph, the Non-Controlling Note Holder shall have the right to attend annual meetings (which may be held telephonically or in person, at the discretion of the Servicer) with the Lead Securitization Note Holder (or the Master Servicer or the Special Servicer acting on its behalf), 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.

 

(e)          If any Note is included as an asset of a real estate mortgage investment conduit (a “REMIC”), within the meaning of Section 860D(a) of the Code, 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)

 

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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 the pro rata share 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, in the event that one of the Notes is included in a REMIC and the other is not, 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 expenses or advances, nor shall any disbursement or payment otherwise distributable to the other Note Holder be reduced to offset or make-up any such payment or deficit.

 

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. When exercising its various rights under Section 5 and elsewhere in 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. Any Servicer acting on behalf of the Lead Securitization Note Holder shall not be required to recognize any Person as a Controlling Note Holder Representative until the Controlling Note Holder has notified the Servicer or Trustee 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 any Servicer or Trustee with written confirmation of its acceptance of

 

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such appointment, 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 any Servicer. None of the Servicers, Operating Advisor and Trustee shall be required to recognize any person as a Controlling Note Holder Representative until they receive such information from the Controlling Note Holder. The Controlling Note Holder agrees to inform each such Servicer or Trustee of the then-current Controlling Note Holder Representative.

 

(b)          Neither the Controlling Note Holder Representative nor the Controlling Note Holder will have any liability to the other Note Holder 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 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”). All of the provisions relating to the Controlling Note Holder and the Controlling Note Holder Representative set forth in Section 6(a) (except those contained in the last sentence thereof) and Section 6(b) shall apply to the Non-Controlling Note Holder and the Non-Controlling Note Holder Representative mutatis mutandis.  The Non-Controlling Note Holder Representative, as of the date of this Agreement and until the Lead Securitization Note Holder (and the Master Servicer and the Special Servicer) is notified otherwise, shall be the Initial Note Holder of the Non-Controlling Note, provided that at any time a Non-Controlling Note is included in a Securitization, references to a “Non-Controlling Note Holder” herein shall mean, with respect to such Note, the Non-Lead Securitization Subordinate Class Representative or any other party assigned the rights to exercise the rights of a “Non-Controlling Note Holder” hereunder, 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.

 

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Section 7.             Appointment of Special Servicer. 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, subject to the terms and conditions of the Lead Securitization Servicing Agreement, 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 Master 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 (including, without limitation, a Rating Agency Confirmation, if required by the terms of the Lead Securitization Servicing Agreement), if any; provided, that in the event the replacement Special Servicer does not have the Required Special Servicer Rating from any Rating Agency rating the Non-Lead Securitization, a Rating Agency Confirmation will be required to be obtained with respect to such Rating Agency and delivered to the Non-Lead Securitization Note Holder. 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 Servicer Termination Event on the part of the Special Servicer has occurred that affects the Non-Controlling Note Holder, the Non-Controlling 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) solely with respect to the Mortgage Loan 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-Controlling Note Holder 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 the Non-Controlling 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 the Non-Controlling Note Holder. The Non-Controlling 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.

 

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

 

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deposit or cause to be deposited all payments allocable to the Notes to the Loan Combination Custodial 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 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.

 

(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, the Non-Lead Securitization 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 the Non-Lead Securitization Note Holder and the Non-Lead Securitization 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 the Non-Lead Securitization 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 the Non-Lead Securitization 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 the Non-Lead Securitization Note Holder, the Non-Lead Securitization 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 shall receive from any sources whatsoever 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, 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 the Non-Lead Securitization Note Holder with respect to the Mortgage Loan against any future payments due to the Non-Lead Securitization Note Holder under the Mortgage Loan. Such Non-Lead Securitization Note Holder’s obligations under this Section 8 constitute absolute, unconditional and continuing obligations.

 

Section 9.             Limitation on Liability of the Note Holders.  Each Initial Note Holder shall have no liability to the other Note Holder with respect to its Note except with respect to losses actually suffered due to the gross negligence, willful misconduct or breach of this Agreement on the part of such Initial Note Holder.

 

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

 

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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 the Non-Lead Securitization Note Holder and that the Lead Securitization Note Holder (including any Servicer and the Trustee) shall have no liability whatsoever to the Non-Lead Securitization 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; provided, however, that the Servicer must act in accordance with the Servicing Standard.

 

Section
10.           Bankruptcy.  Subject
to Section 5(d), each Note Holder hereby covenants and agrees that only the Servicer 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 Servicer, and not the Non-Lead Securitization Note Holder or
any of its representatives, 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 Servicer as their agent, and grant to the Servicer
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 Securitization Note Holder 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 Servicer, the Non-Lead Securitization Note Holder
shall execute, acknowledge and deliver to the Servicer all and every such further deeds, conveyances and instruments as the Servicer
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 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

 

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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.           Independent Analysis of Each Note Holder. Each Note Holder acknowledges that, except for the representations made in Section 11, it has, independently and without reliance upon any other Note Holders and based on such documents and information as such Note Holder has deemed appropriate, made its own credit analysis and decision to purchase its respective Note. Each Note Holder hereby acknowledges that the other Note Holders shall have no responsibility for (i) the collectability of the Mortgage Loan, (ii) the validity, enforceability or legal effect of any of the Mortgage Loan Documents or the title insurance policy or policies or any survey furnished or to be furnished in connection with the origination of the Mortgage Loan, (iii) the validity, sufficiency or effectiveness of the lien created or to be created by the Mortgage Loan Documents, or (iv) the financial condition of the Mortgage Loan Borrower. Each Note Holder assumes all risk of loss in connection with its respective Note for reasons other than gross negligence, willful misconduct or breach of this Agreement by any other Note Holder or gross negligence, willful misconduct or bad faith by any Servicer.

 

Section 13.           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. Neither Note Holder shall have any obligation whatsoever to offer to the other Note Holder the opportunity to purchase a participation interest in any future loans originated by such Note Holder or its Affiliates and if either Note Holder chooses to offer to the 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. Neither Note Holder shall have any obligation whatsoever to purchase from the other Note Holder a participation interest in any future loans originated by such Note Holder or its Affiliates.

 

Section
14.           Other Business Activities of the Note Holders. Each
Note Holder acknowledges that the other Note Holder or its 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 (each, a “Mortgage Loan Borrower Related Party”), and receive
payments on such other loans or extensions of credit to Mortgage Loan Borrower Related Parties 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.

 

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Section 15.           Sale of the Notes. 

 

(a)          Each Note Holder agrees that it will not sell, assign, transfer, pledge, syndicate, hypothecate, contribute, encumber or otherwise dispose of all or any portion of its respective Note (a “Transfer”) except to a Qualified Institutional Lender. Promptly after the Transfer, the non-transferring Note Holder shall be provided with (x) a representation from a transferee or the applicable Note Holder certifying that such transferee is a Qualified Institutional Lender (except in the case of a Transfer in accordance with the immediately following sentence) and (y) a copy of the assignment and assumption agreement referred to in Section 16 (unless the transferee is a Securitization Trust and the related pooling and servicing agreement requires the parties thereto to comply with this Agreement). 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 the consent of the non-transferring Note Holder and, if such non-transferring Note Holder’s Note is held in a Securitization Trust, a confirmation in writing from each Rating Agency that such Transfer will not result in a qualification, downgrade or withdrawal of its then current rating of the securities issued pursuant to the related Securitization. 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 a confirmation in writing from each Rating Agency that such Transfer will not result in a qualification, downgrade or withdrawal of its then current rating of the securities issued pursuant to the related Securitization, 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 Mortgage Loan Borrower Related Party and any such Transfer shall be absolutely null and void and shall vest no rights in the purported transferee. The transferring Note Holder agrees that it shall 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 the other Note Holder, the Rating Agencies or any other Person, to Transfer 49% or less (in the aggregate) of its beneficial interest in a Note. None of the provisions of this Section 15(a) shall apply in the case of (1) a sale of all 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 Defaulted 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.

 

For the purposes of this Agreement, if any Rating Agency shall, in writing, waive, decline or refuse 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, such waiver, declination, or refusal shall be deemed to eliminate, for such request only, the condition that such confirmation by such Rating Agency (only) be obtained 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

 

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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.

 

(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)          Notwithstanding any other provision hereof, any Note Holder may pledge (a “Pledge”) its Note to any entity (other than the Mortgage Loan Borrower or any Affiliate thereof) which has extended a credit facility to such Note Holder and that 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 (a “Note Pledgee”), on terms and conditions set forth in this Section 15(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, 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 the other Note Holder and any Servicer that a Pledge has been effected (including the name and address of the applicable Note Pledgee), the other Note Holder agrees to acknowledge receipt of such notice and thereafter agrees: (i) to give such 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 the 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 estoppel 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 Holder 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 Holder and any 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

 

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Servicer or such other Note Holder to have been delivered by a Note Pledgee. 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 which 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 15(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:

 

(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
16.           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

 

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 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 16, shall be registered in the Note Register. The Person in whose name a Note 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 Holder. 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 16 solely for purposes of maintaining the Note Register.

 

In connection with any Transfer of a Note (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 and the related pooling 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 15, 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 15 and this Section 16. Any such purported transfer shall be absolutely null and void 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 Holder against any liability that may result if the transfer is not made in accordance with the provisions of this Agreement.

 

Section
17.           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
18.           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 SITTING IN THE BOROUGH OF MANHATTAN, AND APPELLATE COURTS FROM ANY THEREOF;

 

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 (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 19.           Modifications. This Agreement shall not be modified, cancelled or terminated except by an instrument in writing signed by each Note Holder. Additionally, for as long as any Note is contained in a Securitization Trust, the Note Holders shall not amend or modify this Agreement without first receiving a written confirmation from each Rating Agency that such amendment or modification will not result in a qualification, withdrawal or downgrade of its then current ratings of the securities issued in connection with a Securitization; provided that no such confirmation from the Rating Agencies shall be required in connection with a modification (i) to cure any ambiguity, to correct or supplement any provisions herein that may be defective or inconsistent with any other provisions herein or with the Lead Securitization Servicing Agreement, or (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.

 

Section 20.           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, the Certificate Administrator, the Master Servicer, the Special Servicer, the Non-Lead Master Servicer, the Non-Lead Special Servicer and the 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 15 and Section 16, 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 21.           Counterparts. This Agreement may be executed in counterparts, each of which when so executed shall be deemed to be an original and all of which when taken together shall constitute one and the same instrument, and the words “executed,” “signed,” “signature,” and words of like import as used above and elsewhere in this Agreement or in any other certificate, agreement or document related to this transaction shall include, in addition to manually executed signatures, images of manually executed signatures transmitted by facsimile or other electronic format (including, without limitation, “pdf”, “tif” or “jpg”) and other electronic signatures (including, without limitation, any electronic sound, symbol, or process, attached to or

 

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logically associated with a contract or other record and executed or adopted by a person with the intent to sign the record). The use of electronic signatures and electronic records (including, without limitation, any contract or other record created, generated, sent, communicated, received, or stored by electronic means) shall be of the same legal effect, validity and enforceability as a manually executed signature or use of a paper-based record-keeping system to the fullest extent permitted by applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act and any other applicable law, including, without limitation, any state law based on the Uniform Electronic Transactions Act or the Uniform Commercial Code.

 

Section 22.           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 23.           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 24.           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 25.           Withholding Taxes. (a) If the Lead Securitization Note Holder or the Mortgage Loan Borrower shall be required by law to deduct and withhold Taxes from interest, fees or other amounts payable to the Non-Lead Securitization Note Holder with respect to the Mortgage Loan as a result of the Non-Lead Securitization Note Holder constituting a Non-Exempt Person, the Lead Securitization Note Holder, in its capacity as servicer, shall be entitled to do so with respect to the Non-Lead Securitization Note Holder’s interest in such payment (all withheld amounts being deemed paid to such Note Holder), provided that the Lead Securitization Note Holder shall furnish the Non-Lead Securitization 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 Note Holder (to the extent it is not the same entity as the Lead Securitization Note Holder) shall and hereby 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 Note Holder in reliance upon any representation, certificate, statement, document or instrument made or provided by such 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 Note Holder, it being expressly understood and agreed that (i) the Lead Securitization Note Holder shall be absolutely and unconditionally entitled to accept any such representation, certificate,

 

43

 

 

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 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 Note Holder (to the extent it is not the same entity as the Lead Securitization Note Holder) represents (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 Note Holder (to the extent it is not the same entity as the Lead Securitization 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 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 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 the Non-Lead Securitization Note or otherwise until the Non-Lead Securitization Note Holder shall have furnished to the Lead Securitization Note Holder requested forms, certificates, statements or documents.

 

Section 26.           Custody of Mortgage Loan Documents. The originals of all of the Mortgage Loan Documents (other than the Non-Lead Securitization Note) (a) prior to the Lead Securitization will be held by the Initial Agent (or a custodian on its behalf) 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 27.           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, the Non-Lead Securitization Note Holder shall use reasonable efforts, at the Lead Securitization Note

 

44

 

 

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 that 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, the Non-Lead Securitization Note Holder shall not 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, the Non-Lead Securitization Note Holder or (ii) materially increase the Non-Lead Securitization Note Holder’s obligations or materially decrease the Non-Lead Securitization Note Holder’s rights, remedies or protections. In connection with the Lead Securitization, the Non-Lead Securitization Note Holder agrees to provide for inclusion in any disclosure document relating to the Lead Securitization such information concerning the Non-Lead Securitization Note Holder and the Non-Lead Securitization Note as the Lead Securitization Note Holder reasonably determines to be necessary or appropriate, and the Non-Lead Securitization Note Holder covenants and agrees that it shall, at the Lead Securitization Note Holder’s expense, cooperate with the reasonable requests of each Rating Agency and the Lead Securitization Note Holder in connection with the Lead Securitization (including, without limitation, reasonably cooperating with the Lead Securitization Noteholder (without any obligation to make additional representations and warranties) to enable the Lead Securitization Noteholder 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 the Non-Lead Securitization Note Holder and the Non-Lead Securitization Note in any Securitization document. The Non-Lead Securitization 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 rely on the information supplied by, or on behalf of, the Non-Lead Securitization Note Holder. The Lead Securitization Note Holder will reasonably cooperate with the Non-Lead Securitization Note Holder by providing all information reasonably requested that is in the Lead Securitization Note Holder’s possession in connection with the Non-Lead Securitization Note Holder’s preparation of disclosure materials in connection with a Securitization.

 

Upon request, the Lead Securitization Note Holder shall deliver to the Non-Lead Securitization 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 28.           Notices. All notices required hereunder shall be given by (i) facsimile transmission (during business hours) if the sender on the same day sends a confirming

 

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copy of such notice by reputable overnight delivery service (charges prepaid), (ii) reputable overnight delivery service (charges prepaid) or (iii) 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.

 

Prior to Securitization of the Non-Lead Securitization Note (including any New Notes), all notices, reports, information or other deliverables required to be delivered to the Non-Lead Securitization Note Holder or the Non-Controlling Note Holder pursuant to this Agreement or the Lead Securitization Servicing Agreement by the Lead Securitization Note Holder (or the Master Servicer or the Special Servicer acting on its behalf) only need to be delivered to the Non-Controlling Note Holder Representative and, when so delivered to the Non-Controlling Note Holder Representative, the Lead Securitization Note Holder (or the Master Servicer or the Special Servicer acting on its behalf) shall be deemed to have satisfied its delivery obligations with respect to such items hereunder or under the Lead Securitization Servicing Agreement. Following Securitization of the Non-Lead Securitization Note, all notices, reports, information or other deliverables required to be delivered to the Non-Lead Securitization Note Holder or the Non-Controlling Note Holder pursuant to this Agreement or the Lead Securitization Servicing Agreement by the Lead Securitization Note Holder (or the Master Servicer or the Special Servicer acting on its behalf) shall be delivered to the Non-Lead Master Servicer and the Non-Lead Special Servicer (who then may forward such items to the party entitled to receive such items as and to the extent provided in the Non-Lead Securitization Servicing Agreement) and, when so delivered to the Non-Lead Master Servicer and the Non-Lead Special Servicer, the Lead Securitization Note Holder (or the Master Servicer or the Special Servicer acting on its behalf) shall be deemed to have satisfied its delivery obligations with respect to such items hereunder or under the Lead Securitization Servicing Agreement.

 

Section 29.           Broker. Each Note Holder represents to each other that no broker was responsible for bringing about this transaction.

 

Section 30.           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 15 and Section 16;

 

(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;

 

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(d)          The Agent or any of its directors, officers, employees, Affiliates, agents or “control” persons within the meaning of the Act, shall not 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 16;

 

(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 31.           Reserved.

 

Section 32.           Resignation of Agent. 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. The 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, the 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 the Initial Agent or any successor thereto prior to such Securitization 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, and any successor master servicer shall be deemed to have been automatically appointed as the successor Agent under this Agreement in place thereof without any further notice or other action.

 

Section 33.           Resizing. Notwithstanding any other provision of this Agreement, for so long as CREFI or an affiliate thereof (a “CREFI Entity”) is the owner of the Non-Lead Securitization Note (the “Owned Note”), such CREFI Entity 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 (including after a default and in connection with a condemnation or prepayment) and such reallocated or component notes shall be automatically subject to the terms of this Agreement, and (iv) the CREFI Entity holding the New Notes shall notify the Lead Securitization

 

47

 

 

Note Holder, the Master Servicer, the Special Servicer, the Certificate Administrator and the Trustee in writing of such modified allocations and principal amounts. Except for the foregoing reallocation or severance 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 other Note Holder. In connection with the foregoing (provided the conditions set forth in (i) through (iv) above are satisfied, as certified by the CREFI Entity, on which certification the Master Servicer can rely), the Master Servicer is hereby authorized and directed to execute amendments to the Mortgage Loan Documents and this Agreement on behalf of any or all of the Note Holders, as applicable, solely for the purpose of reflecting such reallocation of principal (which may include the amendment or addition of applicable defined terms to reflect the New Notes) or such severing of the Owned Note. If an Owned Note is severed into “component” notes, such component notes shall each have the same rights as the related Owned Note. For the avoidance of doubt, Rating Agency Confirmation shall not be required for any amendments to this Agreement required to facilitate the terms of this Section 33.

 

[SIGNATURE PAGE FOLLOWS]

 

48

 

 

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

 

	
 

	
CITI REAL ESTATE FUNDING INC., as

	
 

	
 

	
Initial Note A-1 Holder

	
 

	
 

	
 

	
 

	
By:

	
/s/ Richard W.Simpson

	
 

	
 

	
Name: Richard Simpson

	
 

	
 

	
Title: Vice President

	
 

	
 

	
 

	
 

	
CITI REAL ESTATE FUNDING INC., as

	
 

	
 

	
Initial Note A-2 Holder

	
 

	
 

	
 

	
 

	
By:

	
/s/ Richard W.Simpson

	
 

	
 

	
Name: Richard Simpson

	
 

	
 

	
Title: Vice President

	
 

	
 

	
 

	
 

	
CITI REAL ESTATE FUNDING INC., as

	
 

	
 

	
Initial Note A-3 Holder

	
 

	
 

	
 

	
 

	
By:

	
/s/ Richard W.Simpson

	
 

	
 

	
Name: Richard Simpson

	
 

	
 

	
Title: Vice President

 

(Co-Lender
Agreement – Plaza La Cienega)

 

 

 

 

EXHIBIT A

 

MORTGAGE LOAN SCHEDULE

 

Description of Mortgage Loan

 

	
Mortgage Loan Borrower:

	
Rains, LLC and LaCienega-Sawyer Ltd., a California Limited Partnership

	
Date of Mortgage Loan:

	
September 28, 2021

	
Original Principal Amount of Mortgage Loan:

	
$90,000,000

	
Principal Amount of Mortgage Loan as of the date hereof:

	
$90,000,000

	
Date of Note A-1, Note A-2 and 
Note A-3:

	
October 21, 2021

	
Initial Note A-1 Principal Balance:

	
$50,000,000

	
Initial Note A-2 Principal Balance:

	
$20,000,000

	
Initial Note A-3 Principal Balance:

	
$20,000,000

	
Location of Mortgaged Property:

	
Los Angeles, California

	
Initial Maturity Date:

	
October 6, 2031

 

A-1

 

 

EXHIBIT B

 

Initial Note A-1 Holder, Initial Note A-2 Holder, Initial Note A-3 Holder and Initial Agent:

 

Citi Real Estate Funding Inc. 
388 Greenwich Street, 6th Floor
New York, New York 10013
Attention: Richard Simpson

Facsimile number: (646) 328-2943

 

with an electronic copy emailed to: richard.simpson@citi.com

 

with copies to:

 

Citi Real Estate Funding Inc. 
390 Greenwich Street, 5th Floor
New York, New York 10013
Attention: Raul Orozco

Facsimile number: (347) 394-0898

 

with an electronic copy emailed to: raul.d.orozco@citi.com

 

and 

Citi Real Estate Funding Inc. 
388 Greenwich Street, 17th Floor
New York, New York 10013
Attention: Ryan M. O’Connor

Facsimile number: (646) 862-8988

 

with an electronic copy emailed to: ryan.m.oconnor@citi.com

 

B-1

 

 

EXHIBIT C

 

PERMITTED FUND MANAGERS

 

 

 

	
 

	
1.

	Westbrook Partners

	
 

	
2.

	
DLJ Real Estate Capital Partners

	
 

	
3.

	
iStar Financial Inc.

	
 

	
4.

	
Capital Trust, Inc.

	
 

	
5.

	
Lend-Lease Real Estate Investments

	
 

	
6.

	
Archon Capital, L.P.

	
 

	
7.

	
Whitehall Street Real Estate Fund, L.P.

	
 

	
8.

	
The Blackstone Group International Ltd.

	
 

	
9.

	
Apollo Real Estate Advisors

	
 

	
10.

	
Colony Capital, Inc.

	
 

	
11.

	
Praedium Group

	
 

	
12.

	
J.E. Robert Companies

	
 

	
13.

	
Fortress Investment Group LLC

	
 

	
14.

	
Lonestar Opportunity Fund

	
 

	
15.

	
Clarion Partners

	
 

	
16.

	
Walton Street Capital, LLC

	
 

	
17.

	
Starwood Financial Trust

	
 

	
18.

	
BlackRock, Inc.

	
 

	
19.

	
Rialto Capital Management, LLC

	
 

	
20.

	
Rialto Capital Advisors, LLC

	
 

	
21.

	
Raith Capital Partners, LLC

	
 

	
22.

	
Eightfold Real Estate Capital, L.P.

	
 

	
23.

	
Perella Weinberg Partners

	
 

	
24.

	
Square Mile Capital Management LLC

 

C-1

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