Document:

Exhibit
4.5 

 

 

EXECUTION VERSION

 

AGREEMENT
BETWEEN NOTEHOLDERS

 

Dated
as of April 9, 2019

 

by
and between

 

RIALTO
MORTGAGE FINANCE, LLC

(Note A-1 Holder)

 

RIALTO
MORTGAGE FINANCE, LLC

(Note A-2 Holder)

 

RIALTO
MORTGAGE FINANCE, LLC

(Note A-3 Holder)

 

RIALTO
MORTGAGE FINANCE, LLC

(Note A-4 Holder)

 

RIALTO
MORTGAGE FINANCE, LLC

(Note A-5 Holder)

 

and

 

TOWNSEND
REAL ESTATE FUND, L.P.

(Note B Holder)

 

(Goodyear
Portfolio)

 

     

     

    

 

THIS
AGREEMENT BETWEEN NOTEHOLDERS (“Agreement”), dated as of April 9, 2019 by and between RIALTO MORTGAGE FINANCE,
LLC, a Delaware limited liability company, having an address at 600 Madison Avenue, 12th Floor, New York, New York
10022 (“RMF” and together with its successors and assigns in interest, in its capacity as initial owner of
the Note A-1, the “Note A-1 Holder”) , RMF (together with its successors and assigns in interest, in its capacity
as initial owner of the Note A-2, the “Note A-2 Holder”), RMF (together with its successors and assigns in
interest, in its capacity as initial owner of the Note A-3, the “Note A-3 Holder”), RMF (together with its
successors and assigns in interest, in its capacity as initial owner of the Note A-4, the “Note A-4 Holder”),
RMF (together with its successors and assigns in interest, in its capacity as initial owner of the Note A-5, the “Note
A-5 Holder”) and TOWNSEND REAL ESTATE FUND, L.P., a Delaware limited partnership, having an address at c/o Prima Capital
Advisors LLC, 2 Overhill Road, Suite 215, Scarsdale, New York 10583 (“TREF” and together with its successors
and assigns in interest, in its capacity as owner of the Note B, the “Note B Holder”).

 

W I T N E S S E T H:

 

WHEREAS,
pursuant to that certain Mortgage Loan Agreement (as defined herein), RMF originated the mortgage loan (the “Mortgage
Loan”) with an original principal balance of $60,420,000.00, described on the schedule attached hereto as Exhibit
A (the “Mortgage Loan Schedule”) which is evidenced, inter alia, by two promissory notes in each case as
amended, modified or supplemented, together, the “Notes”), to IRG RC Lessor KB, LLC (and together with permitted
successors and assigns, the “Mortgage Loan Borrower”), which Mortgage Loan is secured by that certain mortgage
lien (as amended, modified or supplemented, the “Mortgage”) on one or more parcels of, or estates in, real
property located as described on the Mortgage Loan Schedule (collectively, the “Mortgaged Property”); and

 

WHEREAS,
pursuant to the Mortgage Loan Agreement, the Mortgage Loan Borrower has executed and delivered (i) one promissory note in the
original principal amount of $30,000,000 (“Note A-1”) made by the Mortgage Loan Borrower in favor of the Note
A-1 Holder, (ii) one promissory note in the original principal amount of $16,000,000 (“Note A-2”) made by the
Mortgage Loan Borrower in favor of the Note A-2 Holder, (iii) one promissory note in the original principal amount of $2,000,000
(“Note A-3”) made by the Mortgage Loan Borrower in favor of the Note A-3 Holder, (iv) one promissory note in
the original principal amount of $1,500,000 (“Note A-4”) made by the Mortgage Loan Borrower in favor of the
Note A-4 Holder, (v) one promissory note in the original principal amount of $1,000,000 (“Note A-5”, and together
with Note A-1, Note A-2, Note A-3 and Note A-4, the “Senior Notes”) made by the Mortgage Loan Borrower in favor
of the Note A-5 Holder and (vi) one promissory note in the original principal amount of $9,920,000 (“Note B”
or the “Junior Note”), and together with the Senior Notes, the “Notes”) made by the Mortgage
Loan Borrower in favor of RMF, as the initial Note B Holder (the “Initial Note B Holder” or “Initial
Junior Noteholder”);

 

WHEREAS,
RMF, in its capacity as the Initial Note B Holder transferred Note B to TREF (together with its successors and assigns in interest,
the “Note B Holder” or “Junior Noteholder”), pursuant to that certain Assignment and Assumption
Agreement dated as of April 9, 2019 by and between RMF and TREF;

 

     

     

    

 

WHEREAS,
RMF intends (but is not bound) to sell, transfer and assign its right, title and interest in and to Note A-1 to WELLS FARGO COMMERCIAL
MORTGAGE SECURITIES INC. (“WFCM Depositor”), as depositor, pursuant to a Mortgage Loan Purchase Agreement by
and between WFCM Depositor, as purchaser, and RMF as seller, and WFCM Depositor intends to transfer its right, title and interest
in and to Note A-1 to a trustee for the Wells Fargo Commercial Mortgage Trust 2019-C50; provided, however, that
RMF may sell, transfer and assign other Senior Notes in addition to Note A-1 to WFCM Depositor and RMF may sell, transfer and
assign Note A-1 and/or other Senior Notes to another depositor for deposit into another securitization trust; and

 

WHEREAS,
the RMF and TREF (each, a “Co-Lender” and together, the “Co-Lenders”) desire to enter into
this Agreement to memorialize the terms under which they, and their successors and assigns, shall hold Note A-1, Note A-2, Note
A-3, Note A-4, Note A-5 and Note B;

 

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

 

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

 

“Acceptable
Insurance Default” (i) prior to the Securitization Date, shall have the meaning assigned to such term in the Model PSA
and (ii) following the Securitization Date, shall have the meaning assigned to such term in the Securitization Servicing Agreement
or such other analogous term used in the Securitization Servicing Agreement.

 

“Additional
Servicing Expenses” shall mean (a) all property protection advances, fees and/or expenses incurred by and reimbursable
to any Servicer, Trustee, Securitization Operating Advisor, certificate administrator or fiscal agent pursuant to the Servicing
Agreement, and (b) all interest accrued on Advances made by any Servicer or Trustee in accordance with the terms of the Servicing
Agreement.

 

“Advance
Interest Amount” shall mean interest payable on Advances, as specified in the Servicing Agreement.

 

“Advances”
shall have the meaning assigned to such term in the Servicing Agreement or such other analogous term used in the Servicing Agreement.

 

“Affiliate”
shall mean with respect to any specified Person (i) any other Person controlling or controlled by or under common control
with such specified Person (each a “Common Control Party”), (ii) any other Person owning, directly or
indirectly, ten percent (10%) or more of the beneficial interests in such Person or (iii) any other Person in which such
Person or a Common Control Party owns, directly or indirectly, ten percent (10%) or more of the

 

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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.

 

“Agent”
shall mean the Initial Agent or such Person to whom the Initial Agent shall delegate its duties hereunder, and from and after
the Securitization Date shall mean the Certificate Administrator, if any, and if there is no Certificate Administrator, shall
mean the Trustee.

 

“Agent
Office” shall mean the designated office of the Agent in the State of New York, which office at the date of this Agreement
is located at Rialto Mortgage Finance, LLC, 600 Madison Avenue, 12th Floor, New York, New York 10022, Attention: Andrew
Snow, 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 Noteholders.

 

“Agreement”
shall mean this Agreement Between Noteholders, the exhibits and schedule hereto and all amendments hereof and supplements hereto.

 

“Appraisal”
(i) prior to the Securitization Date, shall have the meaning assigned to such term in the Model PSA and (ii) following the Securitization
Date, shall have the meaning assigned to such term in the Securitization Servicing Agreement or such other analogous term used
in the Securitization Servicing Agreement.

 

“Appraisal
Reduction Amount” (i) prior to the Securitization Date, shall have the meaning assigned to such term in the Model PSA
and (ii) following the Securitization Date, shall have the meaning assigned to such term in the Securitization Servicing Agreement
or such other analogous term used in the Securitization Servicing Agreement.

 

“Asset
Status Report” shall have the meaning assigned to such term in the Servicing Agreement or such other analogous term
used in the Servicing Agreement.

 

“Balloon
Payment” shall have the meaning assigned to such term in the Servicing Agreement or such other analogous term used in
the Servicing Agreement.

 

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

 

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

 

“CDO
Asset Manager” with respect to any Securitization Vehicle which is a CDO, shall mean the entity which is responsible
for managing or administering the Note B 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 the Note B).

 

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“Certificate
Administrator” shall mean the certificate administrator under the Securitization Servicing Agreement, if any.

 

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

 

“Collection
Account” shall mean the trust account or accounts (including any sub-accounts) created and maintained by the Servicer.

 

“Conduit”
shall have the meaning assigned to such term in Section 19(f).

 

“Conduit
Credit Enhancer” shall have the meaning assigned to such term in Section 19(f).

 

“Conduit
Inventory Loan” shall have the meaning assigned to such term in Section 19(f).

 

“Control”
means 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 “Controlled by”,
“Controlling” and “under common Control with” shall have correlative meanings.

 

“Control
Appraisal Period” A “Control Appraisal Period” shall exist with respect to the Mortgage Loan, if and for
so long as:

 

(a)   
(1) the initial Note B Principal Balance minus (2) the sum (without duplication) of (x) any payments of principal (whether as
principal prepayments or otherwise) allocated to, and received on, the Note B after the date of creation of the Note B, (y) any
Appraisal Reduction Amount for the Mortgage Loan that is allocated to the Note B and (z) without duplication, any losses realized
with respect to any Mortgaged Property or the Mortgage Loan that are allocated to the Note B, is less than

 

(b)  
25% of the remainder of the (i) initial Note B Principal Balance less (ii) any payments of principal (whether as principal prepayments
or otherwise) allocated to, and received by, the Note B Holder on the Note B after the date of creation of the Note B.

 

“Controlling
Noteholder” shall mean as of any date of determination (A) prior to the Outside Date, (i) the Note B Holder, unless
(x) a Control Appraisal Period has occurred and is continuing or (y) the Note B Principal Balance is less than $1,000,000 (ii)
if (x) a Control Appraisal Period has occurred and is continuing or (y) the Note B Principal Balance is less than $1,000,000,
the Note A-1 Holder or (B) after the Outside Date, the Note A-1 Holder; provided that if any Noteholder would be the Controlling
Noteholder pursuant to the terms hereof, but any interest in the Note of such Noteholder is held by the Mortgage Loan Borrower
or a Mortgage Loan Borrower Related Party, or the Mortgage Loan Borrower or Mortgage Loan Borrower Related Party would otherwise
be entitled to exercise the rights of the Controlling Noteholder, a Control Appraisal Period shall be deemed to have occurred
with respect to such Noteholder. As of the Closing Date, the Controlling Noteholder will be the Note B Holder.

 

“Cure
Period” shall have the meaning assigned to such term in Section 11(a).

 

    4 

     

    

 

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

 

“Defaulted
Mortgage Loan” shall have the meaning assigned to such term in the Servicing Agreement.

 

“Defaulted
Mortgage Loan Purchase Price” shall mean the sum, without duplication, of (a) the Principal Balance of Note A-1,
Note A-2, Note A-3, Note A-4 and Note A-5, (b) accrued and unpaid interest thereon at the Note A-1 Rate, Note A-2 Rate, Note
A-3 Rate, Note A-4 Rate and Note A-5 Rate, respectively, from the date as to which interest was last paid in full by Mortgage
Loan Borrower up to and including the end of the interest accrual period relating to the Monthly Payment Date next following the
date the purchase occurred, (c) any other amounts due under the Mortgage Loan, but excluding, without limitation, Prepayment Premiums,
default interest, late fees, exit fees and any other similar fees, provided that if the purchase occurs after the Outside Date
or if the purchaser is the Mortgage Loan Borrower or a Mortgage Loan Borrower Related Party, then the Defaulted Mortgage Loan
Purchase Price shall include Prepayment Premiums, default interest, late fees, exit fees and any other similar fees, (d) any
unreimbursed property protection or servicing Advances and any expenses incurred in enforcing the Mortgage Loan Documents (including,
without limitation, servicing Advances payable or reimbursable to any Servicer, and earned and unpaid special servicing fees),
(e) any accrued and unpaid Advance Interest Amount, (f) (x) if the Mortgage Loan Borrower or a Mortgage Loan Borrower Related
Party is the purchaser or (y) if the Mortgage Loan is purchased after ninety (90) days after the first such option becomes exercisable
pursuant to Section 12 of this Agreement, any liquidation or workout fees payable under the Securitization Servicing Agreement
with respect to the Mortgage Loan and (g) any Recovered Costs not reimbursed previously to Note A-1, Note A-2, Note A-3,
Note A-4 or Note A-5 pursuant to this Agreement. Notwithstanding the foregoing, if the Note B Holder is purchasing from the Mortgage
Loan Borrower or a Mortgage Loan Borrower Related Party, the Defaulted Mortgage Loan Purchase Price shall not include the amounts
described under clauses (d) through (f) of this definition. If the Mortgage Loan is converted into a REO Property, for purposes
of determining the Defaulted Mortgage Loan Purchase Price, interest will be deemed to continue to accrue on Note A-1, Note A-2,
Note A-3, Note A-4 or Note A-5 at the Note A-1 Rate, Note A-2 Rate, Note A-3 Rate, Note A-4 Rate or Note A-5 Rate, as applicable,
as if the Mortgage Loan were not so converted. In no event shall the Defaulted Mortgage Loan Purchase Price include amounts due
or payable to the Note B Holder under this Agreement.

 

“Defaulted
Note Purchase Date” shall have the meaning assigned to such term in Section 12.

 

“Default
Interest” shall mean interest on the Mortgage Loan at a rate per annum equal to the Note Default Interest Spread.

 

“Depositor”
shall mean the Person selected by the Lead Securitization Noteholder to create the Securitization Trust.

 

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

 

    5 

     

    

 

“Excluded
Information” shall have the meaning assigned to such term in the Securitization Servicing Agreement or any one or more
analogous terms in the Securitization Servicing Agreement.

 

“Final
Recovery Determination” (i) prior to the Securitization Date, shall have the meaning assigned to such term in the Model
PSA and (ii) following the Securitization Date, shall have the meaning assigned to such term in the Securitization Servicing Agreement
or such other analogous term used in the Securitization Servicing Agreement.

 

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

 

“Grace
Period” shall have the meaning assigned to such term in Section 11(a).

 

“Ground
Lease” shall have the meaning assigned to such term in the Mortgage Loan Agreement.

 

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

 

“Initial
Agent” shall mean RMF.

 

“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.

 

“Insurance
and Condemnation Proceeds” (i) prior to the Securitization Date, shall have the meaning assigned to such term in the
Model PSA and (ii) following the Securitization Date, shall have the meaning assigned to such term in the Securitization Servicing
Agreement or any one or more analogous terms in the Securitization Servicing Agreement.

 

“Interest
Rate” shall have the meaning assigned to such term or any one or more analogous terms in the Mortgage Loan Documents.

 

    6 

     

    

 

“Interim
Servicing Agreement” shall mean at such time that the Mortgage Loan is not serviced pursuant to the Securitization Servicing
Agreement, one of the following agreements:

 

(i)     the Servicing Agreement, dated as of July 12, 2013, between Rialto Mortgage Finance, LLC, as owner, and Wells Fargo Bank, National
Association, as servicer;

 

(ii)    the Servicing Agreement, dated as of November 13, 2017, between RMF Sub 5, LLC, as seller, and Wells Fargo Bank, National Association,
as servicer; and

 

(iii)   the Servicing Agreement, dated as of October 8, 2013, among RMF Sub 1, LLC, as seller, Wells Fargo Bank, National Association,
as buyer, and Wells Fargo Bank, National Association, as servicer;

 

provided
that the Senior Noteholder shall not, without consent of the Junior Noteholder, consent to any amendment or modification to such
Interim Servicing Agreement to the extent such amendment or modification would materially and adversely affect the Mortgage Loan
or the Junior Noteholder’s rights with respect thereto (as reasonably determined by the Junior Noteholder).

 

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

 

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

 

“Junior
Noteholder” shall mean the Initial Junior Noteholder and its successors in interest, or any subsequent holder of the
Junior Note.

 

“Junior
Operating Advisor” shall mean, with respect to the Mortgage Loan, the advisor appointed pursuant to Section 6(a).

 

“KBRA”
shall mean Kroll Bond Rating Agency, Inc., or its successor in interest.

 

“Lead
Securitization” shall mean the Securitization of Note A-1 in a Securitization Trust to be designated by the Note A-1
Holder.

 

“Lead
Securitization Note” shall mean Note A-1.

 

“Lead
Securitization Noteholder” shall mean the Note A-1 Holder.

 

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

 

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

 

    7 

     

    

 

“Liquidation
Proceeds” (i) prior to the Securitization Date, shall have the meaning assigned to such term in the Model PSA and (ii)
following the Securitization Date, shall have the meaning assigned to such term in the Securitization Servicing Agreement or any
one or more analogous terms in the Securitization Servicing Agreement.

 

“Major
Decisions” shall mean, (i) during any period that the Junior Noteholder is not the Controlling Noteholder, the definition
of “Major Decisions” contained in the Securitization Servicing Agreement and (ii) during any period that the Junior
Noteholder is the Controlling Noteholder:

 

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

 

(ii)      any modification, consent to a modification or waiver of a monetary term (other than penalty charges) or material non-monetary
term (including, without limitation, 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 for less than the applicable Purchase Price
(as defined in the Securitization Servicing Agreement);

 

(iv)     any determination to bring an REO Property into compliance with applicable environmental laws or to otherwise address any Hazardous
Materials (as defined in the Securitization Servicing Agreement) 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 any
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
mortgagor, other than any such transfer as may be effected without the consent of the lender under the Mortgage Loan Documents
or related to an immaterial easement, right of way or similar agreement;

 

(vii)     releases of any material amounts from 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;

 

    8 

     

    

 

(viii)     any acceptance of an assumption agreement or any other agreement permitting transfers of interests in a mortgagor or guarantor
releasing a mortgagor or 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;

 

(ix)      any determination by the Master Servicer to transfer the Mortgage Loan to the Special Servicer under circumstances where the Master
Servicer determines (in accordance with the Servicing Standard) that a default in making any Monthly Payment or any other material
payment of principal or interest is reasonably foreseeable or there is a significant risk of such default or other default that
is likely to impair the use or marketability of the Mortgaged Property or any such analogous event described in the definition
of Servicing Transfer Event;

 

(x)       following a default or an event of default with respect to the Mortgage Loan, any exercise of a material remedy including the
acceleration of the Mortgage Loan or initiation of judicial, bankruptcy or similar proceedings under the related Loan Documents
or with respect to the related mortgagor or Mortgaged Property;

 

(xi)      any determination of an Acceptable Insurance Default;

 

(xii)     any proposed material modification or waiver of the insurance requirements set forth in the Mortgage Loan Documents, other than
pursuant to the specific terms of the Mortgage Loan Documents and for which there is no lender discretion;

 

(xiii)     with respect to the environmental insurance purchased by the Mortgage Loan Borrower, any proposed change in carrier, coverages,
limits, term, extended period of indemnity or deductibles or any other changes that require lender approval under Section 5.1
of the Mortgage Loan Agreement;

 

(xiv)     the granting of any consents or approvals related to the incurrence of (a) additional debt by the Mortgage Loan Borrower or (b)
mezzanine debt by a direct or indirect parent of the Mortgage Loan Borrower, in either case to the extent the lender’s consent
or approval is required under the Mortgage Loan Documents;

 

(xv)     subject to the REMIC Provisions 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;

 

(xvi)
   any approval of a Major Lease (to the extent Lender’s approval is required by the Mortgage Loan Documents);

 

(xvii)     the voting on any plan of reorganization, restructuring or similar plan in the bankruptcy of the Mortgage Loan Borrower unless
any option to

 

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purchase the Senior Note, pursuant to Section 12 of this Agreement, has expired or been waived under Section
12 hereunder; and

 

(xviii)     the termination or replacement of a property manager or execution, termination, renewal or material modification of any property
management agreement other than those required pursuant to the specific terms of the Mortgage Loan Documents and for which there
is no lender discretion.

 

“Major
Lease” shall have the meaning assigned to such term in the Mortgage Loan Agreement.

 

“Master
Servicer” shall have the meaning assigned to such term in the Servicing Agreement.

 

“Model
PSA” shall mean the pooling and servicing agreement for the Wells Fargo Commercial Mortgage Securities, Inc., Commercial
Mortgage Pass Through Certificates Series 2019 C49 dated as of March 1, 2019 among Wells Fargo Commercial Mortgage Securities,
Inc., as depositor, Wells Fargo Bank, National Association, as master servicer and certificate administrator, Midland Loan Services,
a Division of PNC Bank, National Association, as special servicer, Pentalpha Surveillance LLC, as operating advisor and asset
representations reviewer, and Wilmington Trust, National Association, as trustee, as amended, modified or supplemented in compliance
with Regulation AB (provided that with respect to all previously negotiated servicing matters, decisions and rights agreed upon
in the pooling and servicing agreement for Wells Fargo Commercial Mortgage Securities, Inc. Commercial Mortgage Pass-Through Certificates
Series 2018-C44 (“WFCM 2018-C44”) among Wells Fargo Commercial Mortgage Securities, Inc., as depositor, Wells
Fargo Bank, National Association, as master servicer and certificate administrator, Rialto Capital Advisors, LLC, as special servicer,
Pentalpha Surveillance LLC, as operating advisor and asset representations reviewer, and Wilmington Trust, National Association,
as trustee, such provisions in the WFCM 2018-C44 pooling and servicing agreement shall apply).

 

“Monetary
Default” shall have the meaning assigned to such term in Section 11(a).

 

“Monetary
Default Notice” shall have the meaning assigned to such term in Section 11(a).

 

“Monthly
Payment” shall mean have the meaning assigned to such term in the Servicing Agreement.

 

“Monthly
Payment Date” shall mean the Payment Date (as defined in the Mortgage Loan Documents).

 

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

 

    10 

     

    

 

“Morningstar”:
Morningstar Credit Ratings, LLC, or any of its successors in interest, assigns, and/or changed entity name or designation resulting
from any acquisition by Morningstar, Inc. or other similar entity of Realpoint LLC.

 

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

 

“Mortgaged
Property” 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 that certain loan agreement, dated as of April 9, 2019 between the Mortgage Loan Borrower,
as borrower, and RMF, as Co-Lender and as Agent for one or more Co-Lenders, as the same may be further amended, restated, supplemented
or otherwise modified from time to time, subject to the terms thereof.

 

“Mortgage
Loan Borrower Related Party” shall have the meaning assigned to such term in Section 18.

 

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

 

“Mortgage
Loan Rate” shall mean, as of any date of determination, the weighted average of the Note A-1 Rate, Note A-2 Rate, Note
A-3 Rate, Note A-4 Rate, Note A-5 Rate and the Note B Rate.

 

“Mortgage
Loan Schedule” shall mean the Schedule attached hereto as Exhibit A.

 

“Net
Note A-1 Rate” shall mean the Note A-1 Rate minus the Servicing Fee Rate applicable to Note A-1.

 

“Net
Note A-2 Rate” shall mean the Note A-2 Rate minus the Servicing Fee Rate applicable to Note A-2.

 

“Net
Note A-3 Rate” shall mean the Note A-3 Rate minus the Servicing Fee Rate applicable to Note A-3.

 

“Net
Note A-4 Rate” shall mean the Note A-4 Rate minus the Servicing Fee Rate applicable to Note A-4.

 

“Net
Note A-5 Rate” shall mean the Note A-5 Rate minus the Servicing Fee Rate applicable to Note A-5.

 

“Net
Note B Rate” shall mean the Note B Rate minus the Servicing Fee Rate applicable to Note B.

 

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“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 A-1 Holder, Note A-2 Holder, Note A-3 Holder, Note A-4 Holder or Note A-5 Holder to make such payments free
of any obligation or liability for withholding.

 

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

 

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

 

“Non-Lead
Master Servicer” shall mean the master servicer under a Non-Lead Securitization.

 

“Non-Lead
Note” shall mean any Note other than the Lead Note.

 

“Non-Lead
Noteholder” shall mean any Noteholder other than the Lead Noteholder.

 

“Non-Lead
Securitization” shall mean , at any time, any Securitization that is not then the Lead Securitization.

 

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

 

“Non-Lead
Securitization Note” shall mean each of Note A-2, Note A-3, Note A-4 and Note A-5.

 

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

 

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

 

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

 

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

 

“Non-Monetary
Default” shall have the meaning assigned to such term in Section 11(d).

 

“Non-Monetary
Default Cure Period” shall have the meaning assigned to such term in Section 11(d).

 

    12 

     

    

 

“Non-Monetary
Default Notice” shall have the meaning assigned to such term in Section 11(d).

 

“Note”
shall mean either of Note A-1, Note A-2, Note A-3, Note A-4, Note A-5 and Note B, as applicable.

 

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

 

“Note
A-1 Default Rate” shall mean a rate per annum equal to the Note A-1 Rate plus the Note Default Interest Spread.

 

“Note
A-1 Holder” shall mean the Note A-1 Holder, or any subsequent holder of the Note A-1, together with its successors and
assigns.

 

“Note
A-1 Percentage Interest” shall mean a fraction, expressed as a percentage, the numerator of which is the Note A-1 Principal
Balance and the denominator of which is the sum of the Note A-1 Principal Balance, Note A-2 Principal Balance, Note A-3 Principal
Balance, Note A-4 Principal Balance, Note A-5 Principal Balance and the Note B Principal Balance.

 

“Note
A-1 Principal Balance” shall mean, with respect to the Mortgage Loan, at any time of determination, the 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 Sections 3, 4 or 5, as applicable.

 

“Note
A-1 Rate” shall mean the Note A-1 Rate set forth on the Mortgage Loan Schedule.

 

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

 

“Note
A-2 Default Rate” shall mean a rate per annum equal to the Note A-2 Rate plus the Note Default Interest Spread.

 

“Note
A-2 Holder” shall mean the Note A-2 Holder, or any subsequent holder of the Note A-2, together with its successors and
assigns.

 

“Note
A-2 Percentage Interest” shall mean a fraction, expressed as a percentage, the numerator of which is the Note A-2 Principal
Balance and the denominator of which is the sum of the Note A-1 Principal Balance, Note A-2 Principal Balance, Note A-3 Principal
Balance, Note A-4 Principal Balance, Note A-5 Principal Balance and the Note B Principal Balance.

 

“Note
A-2 Principal Balance” shall mean, with respect to the Mortgage Loan, at any time of determination, the 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 Sections 3, 4 or 5, as applicable.

 

“Note
A-2 Rate” shall mean the Note A-2 Rate set forth on the Mortgage Loan Schedule.

 

    13 

     

    

 

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

 

“Note
A-3 Default Rate” shall mean a rate per annum equal to the Note A-3 Rate plus the Note Default Interest Spread.

 

“Note
A-3 Holder” shall mean the Note A-3 Holder, or any subsequent holder of the Note A-3, together with its successors and
assigns.

 

“Note
A-3 Percentage Interest” shall mean a fraction, expressed as a percentage, the numerator of which is the Note A-3 Principal
Balance and the denominator of which is the sum of the Note A-1 Principal Balance, Note A-2 Principal Balance, Note A-3 Principal
Balance, Note A-4 Principal Balance, Note A-5 Principal Balance and the Note B Principal Balance.

 

“Note
A-3 Principal Balance” shall mean, with respect to the Mortgage Loan, at any time of determination, the 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 Sections 3, 4 or 5, as applicable.

 

“Note
A-3 Rate” shall mean the Note A-3 Rate set forth on the Mortgage Loan Schedule.

 

“Note
A-4” shall have the meaning assigned to such term in the recitals.

 

“Note
A-4 Default Rate” shall mean a rate per annum equal to the Note A-4 Rate plus the Note Default Interest Spread.

 

“Note
A-4 Holder” shall mean the Note A-4 Holder, or any subsequent holder of the Note A-4, together with its successors and
assigns.

 

“Note
A-4 Percentage Interest” shall mean a fraction, expressed as a percentage, the numerator of which is the Note A-4 Principal
Balance and the denominator of which is the sum of the Note A-1 Principal Balance, Note A-2 Principal Balance, Note A-3 Principal
Balance, Note A-4 Principal Balance, Note A-5 Principal Balance and the Note B Principal Balance.

 

“Note
A-4 Principal Balance” shall mean, with respect to the Mortgage Loan, at any time of determination, the Note A-1 Principal
Balance set forth on the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-4 Holder or reductions
in such amount pursuant to Sections 3, 4 or 5, as applicable.

 

“Note
A-4 Rate” shall mean the Note A-4 Rate set forth on the Mortgage Loan Schedule.

 

“Note
A-5” shall have the meaning assigned to such term in the recitals.

 

“Note
A-5 Default Rate” shall mean a rate per annum equal to the Note A-5 Rate plus the Note Default Interest Spread.

 

    14 

     

    

 

“Note
A-5 Holder” shall mean the Note A-5 Holder, or any subsequent holder of the Note A-5, together with its successors and
assigns.

 

“Note
A-5 Percentage Interest” shall mean a fraction, expressed as a percentage, the numerator of which is the Note A-5 Principal
Balance and the denominator of which is the sum of the Note A-1 Principal Balance, Note A-2 Principal Balance, Note A-3 Principal
Balance, Note A-4 Principal Balance, Note A-5 Principal Balance and the Note B Principal Balance.

 

“Note
A-5 Principal Balance” shall mean, with respect to the Mortgage Loan, at any time of determination, the Note A-5 Principal
Balance set forth on the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-5 Holder or reductions
in such amount pursuant to Sections 3, 4 or 5, as applicable.

 

“Note
A-5 Rate” shall mean the Note A-5 Rate set forth on the Mortgage Loan Schedule.

 

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

 

“Note
B Default Rate” shall mean a rate per annum equal to the Note B Rate plus the Note Default Interest Spread.

 

“Note
B Holder” shall have the meaning assigned to such term in the recitals, and any successor in interest, or any subsequent
holder of the Note B.

 

“Note
B Percentage Interest” shall mean a fraction, expressed as a percentage, the numerator of which is the Note B Principal
Balance and the denominator of which is the sum of the Note A-1 Principal Balance, Note A-2 Principal Balance, Note A-3 Principal
Balance, Note A-4 Principal Balance, Note A-5 Principal Balance and the Note B Principal Balance.

 

“Note
B Principal Balance” shall mean, at any time of determination, the Note B Principal Balance set forth on the Mortgage
Loan Schedule, less any payments of principal thereon or reductions in such amount pursuant to Section 3, 4 or 5,
as applicable.

 

“Note
B Rate” shall mean the Note B Rate set forth on the Mortgage Loan Schedule.

 

“Note
Default Interest Spread” shall mean a rate per annum equal to five percent (5%); provided, however, that
if the weighted average of the Note A-1 Default Rate, Note A-2 Default Rate, Note A-3 Default Rate, Note A-4 Default Rate, Note
A-5 Default Rate and the Note B Default Rate would exceed the maximum rate permitted by applicable law, the note default interest
spread shall equal (i) the rate at which the weighted average of the Note A-1 Default Rate, Note A-2 Default Rate, Note A-3 Default
Rate, Note A-4 Default Rate, Note A-5 Default Rate and the Note B Default Rate equals the maximum rate permitted by applicable
law minus (ii) the Mortgage Loan Rate.

 

“Note
Pledgee” shall have the meaning assigned to such term in Section 19(e).

 

    15 

     

    

 

“Note
Rate” shall mean the Note A-1 Rate, Note A-2 Rate, Note A-3 Rate, Note A-4 Rate, Note A-5 Rate and the Note B Rate,
as applicable.

 

“Note
Register” shall have the meaning assigned to such term in Section 21.

 

“Noteholder”
shall mean the Note A-1 Holder, Note A-2 Holder, Note A-3 Holder, Note A-4 Holder, Note A-5 Holder and Note B Holder, as applicable.

 

“Noteholder
Purchase Notice” has the meaning assigned to such term in Section 12.

 

“Outside
Date” means November 1, 2028.

 

“Percentage
Interest” shall mean, with respect to the Note A-1 Holder, the Note A-1 Percentage Interest, with respect to the Note
A-2 Holder, the Note A-2 Percentage Interest, with respect to the Note A-3 Holder, the Note A-3 Percentage Interest, with respect
to the Note A-4 Holder, the Note A-4 Percentage Interest, with respect to the Note A-5 Holder, the Note A-5 Percentage Interest
and with respect to the Note B Holder, the Note B Percentage Interest, as each may be adjusted from time to time.

 

“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 a 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
$500,000,000 and (iii) not subject to a proceeding relating to the bankruptcy, insolvency, reorganization or relief of debtors.

 

“Person”
(i) prior to the Securitization Date, shall have the meaning assigned to such term in the Model PSA and (ii) following the Securitization
Date, shall have the meaning assigned to such term in the Securitization Servicing Agreement or any one or more analogous terms
in the Securitization Servicing Agreement.

 

“Pledge”
shall have the meaning assigned to such term in Section 19(e).

 

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

 

“Prima”
means Prima Capital Advisors LLC, a New York limited liability company, together with its successors.

 

“Prima
Affiliate” means any Person for which Prima or its Affiliate is a fund or asset manager.

 

“Prima
Holder” means individually or collectively, as the context so requires, (i) TREF, (ii) PR Cap IV NR RETEN Private Limited,
(iii) Prima, or (iv) any Prima Affiliate; provided that such Prima Holder has total assets (in name of under management or advisement)

 

    16 

     

    

 

in excess of $75,000,000.00 (the value of such assets to be determined including without limitation, uncalled capital commitments)
and (except with respect to a pension advisory firm, asset manager, registered investment advisor or similar fiduciary) has capital/statutory
surplus or shareholder’s equity (determined taking account uncalled capital commitment) of at least $50,000,000.00.

 

“Principal
Balance” shall mean any of the Note A-1 Principal Balance, Note A-2 Principal Balance, Note A-3 Principal Balance, Note
A-4 Principal Balance, Note A-5 Principal Balance and the Note B Principal Balance, as applicable.

 

“Pro
Rata and Pari Passu Basis” shall mean with respect to Note A-1, Note A-2, Note A-3, Note A-4, Note A-5 and any New Notes,
and the related Noteholders, the allocation of any particular payment, collection, cost, expense, liability or other amount between
such Notes or such Noteholders, as the case may be, without any priority of any such Note or any such Noteholder over another
such Note or Noteholder, as the case may be, and in any event such that each Note or Noteholder, as the case may be, is allocated
its respective Percentage Interest of such particular payment, collection, cost, expense, liability or other amount.

 

“Qualified
Institutional Lender” shall mean (i) any of (x) the Noteholders, (y) Rialto Mortgage Finance, LLC and any Affiliate
thereof, and (z) Prima and/or any Prima Holder (for so long as such Prima Holder it is a Noteholder), and (ii) any other U.S.
Person that is:

 

(a)          an
entity Controlled (as defined below) by, under common Control with or Controlling any of the Note A-1 Holder, Note A-2 Holder,
Note A-3 Holder, Note A-4 Holder, Note A-5 Holder or the Note B Holder, or

 

(b)          one or more of the following:

 

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

 

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

 

(iii)        a Qualified Trustee (or in the case of a CDO, a single purpose bankruptcy remote entity which contemporaneously assigns or pledges
its Note B, or a participation interest therein (or any portion thereof) to 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, any or all of the Note B (any of the foregoing, a “Securitization Vehicle”), provided that
(1) one or more classes of securities issued by such Securitization Vehicle is initially rated at least investment grade by each
of the Rating Agencies

 

    17 

     

    

 

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 the Note B (or portion thereof or
interest therein) to such Securitization Vehicle); (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”) and such Approved Servicer is required to
service and administer the Note B (or applicable portion thereof or 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 (b)(i),
(b)(ii), (b)(iii), (b)(iv) or (b)(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 $500,000,000, in which (A) the Note A-1 Holder, Note A-2 Holder, Note A-3 Holder, Note A-4 Holder, Note A-1 Holder
or the Note B Holder, as applicable, (B) a person that is otherwise a Qualified Institutional Lender under clause (b)(i), (b)(ii)
or (b)(v) (with respect to an institution substantially similar to the entities referred to in clause (b)(i) or (b)(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 (b)(i), (ii), (iii)(A), (iv)(B) or (v) of this definition, (x) such entity has at
least $400,000,000 in capital/statutory surplus or shareholders’ equity (except with respect to a pension advisory firm,
asset manager or similar fiduciary) and at least $1,000,000,000 in total assets (in name or under management), and (y) is regularly
engaged in the business of making or owning commercial real estate loans (or interests therein) similar to the Mortgage Loan (or
mezzanine loans with respect thereto) or owning or operating commercial real estate properties; provided that, in the case of
the entity described in clause (b)(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

 

    18 

     

    

 

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

 

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” and “Controlling” have the meaning
correlative thereto).

 

“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 $1,000,000,000 and subject to supervision
or examination by federal or state authority, (ii) an institution insured by the Federal Deposit Insurance Corporation or (iii)
an institution whose long-term senior unsecured debt is rated either of the then in effect top two rating categories of each of
the applicable Rating Agencies.

 

“Rating
Agencies” shall mean any of (a) S&P, (b) Moody’s, (c) Fitch, (d) DBRS, (e) KBRA and (f) Morningstar or, (g)
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 the Senior Noteholder and, in the case of each of clauses (a) through
(g) engaged by the Senior Noteholder or the Lead Securitization Depositor to rate the securities issued in connection with the
Securitization of Note A-1, Note A-2, Note A-3, Note A-4 or Note A-5, as applicable; provided, however, that, at any time during
which Note A-1, Note A-2, Note A-3, Note A-4 or Note A-5 is an asset of one or more Securitizations, “Rating Agencies”
or “Rating Agency” shall mean with respect to Note A-1, Note A-2, Note A-3, Note A-4 or Note A-5, only those rating
agencies that are engaged by the Depositor or Non-Lead Depositor, as applicable, from time to time to rate the securities issued
in connection with the Securitization of such Note.

 

“Rating
Agency Confirmation”: shall mean, prior to a Securitization, with respect to any matter, confirmation in writing (which
may be in electronic form) by each applicable Rating Agency that a proposed action, failure to act or other event so specified
will not, in and of itself, result in the downgrade, withdrawal or qualification of the then current rating assigned to any class
of certificates (if then rated by the Rating Agency); provided that a written waiver or other acknowledgment from 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 after a Securitization,
the meaning given thereto or any analogous term in the Servicing Agreement, including any deemed Rating Agency Confirmation.

 

“Recovered
Costs” shall mean any amounts referred to in clauses (d) and/or (e) of the definition of “Defaulted Mortgage Loan
Purchase Price” that, at the time of determination, had been previously paid or reimbursed to any Servicer from sources
other than collections on or

 

    19 

     

    

 

in respect of the Mortgage Loan or the Mortgaged Property (including, without limitation, from collections
on or in respect of loans other than the Mortgage Loan).

 

“Redirection
Notice” shall have the meaning assigned to such term in Section 19(e).

 

“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 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 mean a real estate mortgage investment conduit within the meaning of Section 860D(a) of the Code.

 

“REMIC
Provisions” shall mean provisions of the federal income tax law relating to real estate mortgage investment conduits,
which appear at Sections 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.

 

“REO
Property” (i) prior to the Securitization Date, shall have the meaning assigned to such term in the Model PSA and (ii)
following the Securitization Date, shall have the meaning assigned to such term in the Securitization Servicing Agreement or any
one or more analogous terms in the Securitization Servicing Agreement.

 

“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 Morningstar, either (a) the applicable replacement has
a special servicer ranking of at least “MOR CS3” by Morningstar (if ranked by Morningstar) or (b) if not ranked by
Morningstar, is currently acting as a special servicer on a deal or transaction-level basis for all or a significant portion of
the related mortgage loans in other CMBS transactions rated by any of S&P, Moody’s, Morningstar, Fitch, DBRS or KBRA
and the trustee does not have actual knowledge that Morningstar has, and the replacement special servicer certifies that Morningstar
has not, with respect to any such other CMBS transaction, qualified, downgraded or withdrawn its rating or ratings on one or more
classes of such CMBS transaction citing servicing concerns of the applicable replacement as the sole or material factor in such
rating action, (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

 

    20 

     

    

 

downgrade or withdrawal) of securities in a transaction serviced by such special servicer prior to the time of determination,
and (vi) in the case of DBRS, such special servicer is currently acting as special servicer for one or more loans included in
a commercial mortgage loan securitization that is rated by DBRS, and DBRS 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 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 Standard & Poor’s Ratings Services, a Standard & Poor’s Financial Services LLC business, and its
successors in interest.

 

“Securitization”
shall mean one or more sales by the Note A-1 Holder, Note A-2 Holder, Note A-3 Holder, Note A-4 Holder or Note A-5 Holder of all
or a portion of such Note to a depositor, who will in turn include such portion of such Note as part of a securitization of one
or more mortgage loans.

 

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

 

“Securitization
Operating Advisor” shall mean the operating advisor under the Securitization Servicing Agreement, if any.

 

“Securitization
Servicing Agreement” shall mean a pooling and servicing agreement, substantially in the form of the Model PSA entered
into in connection with the Lead Securitization, which pooling and servicing agreement is in a form customary and usually used
in the servicing practices of servicers of commercial mortgage loans included in a securitization by and among (a) the Trustee,
(b) the Person who serves as master servicer from and after the Securitization Date, (c) the Person which serves as
special servicer from and after the Securitization Date, (d) the Person who services as operating advisor from and after the Securitization
Date and (e) the Depositor, and any other additional Persons that may be party to such pooling and servicing agreement; provided
it is acknowledged that such agreement is subject in all respects to changes (i) required by the Code relating to the tax
elections of the related Lead Securitization Trust, (ii) required by law or changes in any law, rule or regulation and (iii) requested
by the Rating Agencies or any purchaser of subordinate certificates that are customary and consistent with market standards. The
Servicing Standard in the Securitization Servicing Agreement shall require, among other things, that each Servicer, in servicing
the Mortgage Loan, must take into account the interests of each Noteholder (taking into account that the Note B is junior to Note
A-1, Note A-2, Note A-3, Note A-4 and Note A-5). During any period that the Mortgage Loan is no longer subject to the provisions
of the Securitization Servicing Agreement, the “Securitization Servicing Agreement” shall be determined in accordance
with Section 2(f) hereof.

 

“Securitization
Trust” shall mean a trust formed pursuant to a Securitization pursuant to which the Note B, Note A-1, Note A-2, Note
A-3, Note A-4 or Note A-5 is held.

 

    21 

     

    

 

“Senior
Note(s)” shall mean any of Note A-1, Note A-2, Note A-3, Note A-4 and Note A-5.

 

“Senior
Noteholder(s)” shall mean any of the Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder
and the Note A-5 Holder.

 

“Sequential
Pay Event” shall mean any Event of Default with respect to an obligation to pay money due under the Mortgage Loan, any
other Event of Default for which the Mortgage Loan is actually accelerated or any other Event of Default which causes the Mortgage
Loan to become a Specially Serviced Mortgage Loan, or any bankruptcy or insolvency event that constitutes an Event of Default;
provided, however, that unless the Servicer under the Servicing Agreement has notice or knowledge of such event
at least ten (10) Business Days prior to the applicable distribution date, distributions will be made sequentially beginning on
the subsequent distribution date; provided, further, that the aforementioned requirement of notice or knowledge
will not apply in the case of distribution of the final proceeds of a liquidation or final disposition of the Mortgage Loan. A
Sequential Pay Event shall no longer exist to the extent it has been cured (including any cure payment made by the Controlling
Noteholder in accordance with Section 11) and shall not be deemed to exist to the extent any Note B Holder is exercising
its cure rights under Section 11.

 

“Servicer”
shall mean (a) prior to the Securitization Date, Wells Fargo Bank, National Association and (b) from and after the Securitization
Date, the Master Servicer or the Special Servicer, as the context may require.

 

“Servicing
Agreement” shall mean, with respect to the Mortgage Loan, prior to the Securitization Date, the Interim Servicing Agreement,
and, from and after the Securitization Date, the Securitization Servicing Agreement.

 

“Servicing
Fee Rate” shall (a) prior to the Securitization Date, mean 2 basis points, and (b) from and after the Securitization
Date, have the meaning assigned to such term in the Servicing Agreement.

 

“Servicing
Standard” shall (a) prior to the Securitization Date, have the meaning assigned to such term in the Model PSA and (b)
following the Securitization Date, shall have the meaning assigned to such term in the Securitization Servicing Agreement or any
one or more analogous terms in the Securitization Servicing Agreement.

 

“Servicing
Transfer Event” shall have the meaning assigned to such term in the Servicing Agreement.

 

“Special
Servicer” shall have the meaning assigned to such term in the Servicing Agreement; provided that with respect to the
Mortgage Loan, Special Servicer shall initially be Rialto Capital Advisors, LLC (or any successor thereto). All references to
Special Servicer in this Agreement shall mean Rialto Capital Advisors, LLC or any successor “Special Servicer” appointed
by the Controlling Noteholder pursuant to this Agreement and in compliance with the Securitization Servicing Agreement.

 

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“Specially
Serviced Mortgage Loan” shall have the meaning assigned to such term in the Servicing Agreement.

 

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

 

“Threshold
Event Collateral” shall have the meaning assigned to such term in Section 5(g).

 

“Threshold
Event Cure” shall have the meaning assigned to such term in Section 5(g).

 

“Transfer”
shall mean any sale, assignment, transfer, pledge, syndication, participation, hypothecation, contribution, encumbrance or other
disposition (either (i) directly or (ii) indirectly through entering into a derivatives contract or any other similar
agreement, excluding a repurchase financing or a Pledge in accordance with Section 19(e)).

 

“Trustee”
shall mean the bank or trust company as may be selected by the Depositor and approved by the Rating Agencies to act as trustee
for the related Securitization, and shall include any fiscal agent and/or paying agent appointed for such Securitization.

 

“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 that is eligible to elect to be treated as a U.S. Person).

 

“Workout”
shall mean any written modification, waiver, amendment, restructuring or workout of the Mortgage Loan or the Note entered into
with the Mortgage Loan Borrower in accordance with the Servicing Agreement.

 

Section
2.          Servicing.

 

(a)          Each Noteholder acknowledges and agrees that, subject in each case to this Agreement, the Mortgage Loan shall be serviced prior
to the Securitization Date pursuant to the Interim Servicing Agreement and from and after the Securitization Date (except as otherwise
set forth in Section 2(f)), pursuant to the Securitization Servicing Agreement; provided that the Master Servicer
shall not be obligated to advance monthly payments of principal or interest in respect of the Notes other than the Note A-1 (and
the Non-Lead Master Servicer(s) shall be required to advance monthly payments of principal and interest on Note A-2, Note A-3,
Note A-4 and Note A-5, as applicable, pursuant to the terms of the related Non-Lead Securitization Servicing Agreement(s)) 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

 

    23 

     

    

 

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 Securitization Servicing Agreement. The Note B Holder acknowledges
that each of the Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder and the Note A-5 Holder may elect,
in its sole discretion, to include the Note A-1, Note A-2, Note A-3 Note A-4 and/or Note A-5 in a Securitization and agrees that,
subject to Section 40 hereof, it will reasonably cooperate with the Note A-1 Holder, the Note A-2 Holder, the Note A-3
Holder, the Note A-4 Holder and the Note A-5 Holder, at the Note A-1 Holder’s, the Note A-2 Holder’s, the Note A-3
Holder’s, the Note A-4 Holder’s and the Note A-5 Holder’s, as applicable, sole cost and expense, to effect such
Securitization. Subject to the terms and conditions of this Agreement (including, without limitation, Section 2(d) and
Section 7 hereof), each Noteholder hereby irrevocably and unconditionally consents to the appointment of the Master Servicer,
Special Servicer and the Trustee under the Securitization Servicing Agreement by the Depositor and agrees to reasonably cooperate
with and consent to the Master Servicer and the Special Servicer with respect to the servicing of the Mortgage Loan in accordance
with the Securitization Servicing Agreement. Each Noteholder hereby appoints the Master Servicer and the Trustee in the Lead Securitization
as such Noteholder’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 Securitization Servicing Agreement (subject at all times to the rights of the Noteholders
set forth herein and in the Servicing Agreement). In no event shall the Servicing Agreement require the Servicer to enforce the
rights of any Noteholder or limit the Servicer in enforcing the rights of one Noteholder against any other Noteholder; however,
this statement shall not be construed to otherwise limit the rights of one Noteholder with respect to any other Noteholder. The
Servicer shall be required pursuant to the Servicing Agreement to service the Mortgage Loan in accordance with the Servicing Standard,
the terms of the Mortgage Loan Documents, this Agreement, the 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.

 

(b)          In no event shall the Note B Holder be entitled to exercise any rights of the “directing holder”, “directing
certificateholder”, controlling or consulting class or any analogous class or holder under the Securitization Servicing
Agreement, except to the extent the Note B Holder is given such rights expressly under the terms of this Agreement or the Securitization
Servicing Agreement in its capacity as the Controlling Noteholder.

 

(c)          The Securitization Servicing Agreement shall, unless otherwise agreed to by the Controlling Noteholder, contain (i) servicing
and reporting provisions (including the Asset Status Report for all Major Decisions) substantially similar in all material respects
to the servicing provisions of the Model PSA and (ii) a Servicing Standard substantially similar in all material respects
to the servicing standard in the Model PSA. In no event may the Securitization Servicing Agreement change the interest allocable
to, or the amount of any payments due to, the Note B Holder or the Controlling Noteholder or materially increase the Note
B Holder’s or Controlling Noteholder’s respective obligations, or materially decrease the Note B Holder’s or
Controlling Noteholder’s respective rights, remedies or protections, hereunder.

 

(d)          The Securitization Servicing Agreement shall contain provisions to the effect that:

 

    24 

     

    

 

(i)          if an event of default under the Securitization Servicing Agreement has occurred (A) with respect to the Master Servicer under
the Securitization Servicing Agreement that affects a Noteholder or any class of commercial mortgage securities backed by a Note
or a participation interest in a Note, and the Master Servicer is not otherwise terminated under the Securitization Servicing
Agreement, then the Note B Holder or its designees (if the Note B Holder is the Controlling Noteholder) shall be entitled to direct
the Trustee to appoint a sub-servicer solely with respect to the Mortgage Loan (or if the Mortgage Loan is currently being sub-serviced,
to replace the current sub-servicer, but only if such original sub-servicer is in default under the related sub-servicing agreement);
and (B) the appointment (or replacement) of a sub-servicer with respect to the Mortgage Loan, as contemplated in clause (A) above,
will in any event be subject to written confirmation from each Rating Agency that such appointment 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
any Securitization;

 

(ii)          any payments received on the Mortgage Loan shall be paid by the Master Servicer in accordance with Section 3 and Section
4 hereof to each of the Noteholders on the “master servicer remittance date” under the Securitization Servicing
Agreement;

 

(iii)          each Non-Lead Noteholder shall be entitled to receive, and the Master Servicer and the Special Servicer shall provide access to,
any information relating to the Mortgage Loan, the Mortgage Loan Borrower or the Mortgaged Property as the Non-Lead Noteholder
may reasonably request and would be customarily in the possession of, or collected or known by, the Master Servicer or the Special
Servicer of mortgage loans similar to the Mortgage Loan and, in any event, all information that is required to be provided to
holders of the securities issued by the Lead Securitization Trust that includes other Notes but not limited to standard CREFC
reports and Asset Status Reports, provided that if an interest in the Non-Lead Note is held by the Mortgage Loan Borrower or a
Mortgage Loan Borrower Related Party, then the Non-Lead Noteholder shall not be entitled to receive the Asset Status Report or
any other information relating to the Special Servicer’s workout strategy or any Excluded Information;

 

(iv)          in the event the Special Servicer elects to offer to sell Note A-1, Note A-2, Note A-3, Note A-4 and Note A-5 or related REO Property
pursuant to Section 3.17 of the Securitization Servicing Agreement, then the Special Servicer shall provide notice to the Note
B Holder of such election, together with any bid package that the Special Servicer makes available in connection with such offer
to sell;

 

(v)          each Noteholder is an intended third party beneficiary in respect of the rights afforded it under the Securitization Servicing
Agreement and may directly enforce such rights;

 

(vi)          the Securitization Servicing Agreement may not be amended without the consent of the Note B Holder if such amendment would materially
and adversely affect its rights thereunder (as reasonably determined by the Note B Holder); and

 

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(vii)          the Special Servicer appointed by the Note B Holder shall be named as the Special Servicer for the Mortgage Loan under the Securitization
Servicing Agreement as of the closing of the Lead Securitization, as long as such Special Servicer satisfies the requirements
of the Securitization Servicing Agreement.

 

(e)          Notwithstanding anything to the contrary contained in this Agreement, any obligation of the Servicer pursuant to the terms hereof
shall be performed by the Master Servicer or the Special Servicer, as applicable, as set forth in the Servicing Agreement.

 

(f)          At any time after the Securitization Date that the Lead Securitization Note is no longer subject to the provisions of the Securitization
Servicing Agreement, the Lead Securitization Noteholder shall cause the Mortgage Loan to be serviced pursuant to a servicing agreement
that contains servicing provisions which are the same as or more favorable to Note B Holder, in substance, to those in the Securitization
Servicing Agreement and all references herein to the “Securitization Servicing Agreement” shall mean such subsequent
servicing agreement; provided, however, that until a replacement servicing agreement has been entered into, the
Lead Securitization Noteholder shall cause the Mortgage Loan to be serviced in accordance with the servicing provisions set forth
in the Securitization Servicing Agreement as if such agreement was still in full force and effect with respect to the Mortgage
Loan; provided, further, however, that until a replacement servicing agreement is in place, the actual servicing of the Mortgage
Loan may be performed by an Approved Servicer appointed by Lead Securitization Noteholder and does not have to be performed by
the service providers set forth under the Securitization Servicing Agreement.

 

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

 

(i)          the Non-Lead Securitization Noteholder shall be responsible for its pro rata share of any Servicing Advances (and advance
interest 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 Servicing 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
Noteholder’s pro rata share of any such Nonrecoverable Servicing Advances (together with advance interest thereon)
and/or 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 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

 

    26 

     

    

 

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
Noteholder’s pro rata share of any such Nonrecoverable Servicing Advances (together with advance interest thereon)
and/or 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);

 

(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
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 Whole Loan 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 Certificate Administrator will be required to deliver to the Trustee, the Certificate Administrator, the Special
Servicer, the Master Servicer, the Operating Advisor and the Note B Holder (i) promptly following the Securitization of the Non-Lead
Securitization Note, notice of the deposit of the Non-Lead Securitization Note into a Securitization Trust (which notice shall
also provide contact information for the trustee, the certificate administrator, the Non-Lead Master Servicer, the special servicer
and the party designated to exercise the rights of the “Non-Controlling Pari Passu Noteholder” under this Agreement),
accompanied by a certified 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 or the party designated to exercise the rights of the “Non-Controlling
Pari Passu Noteholder” under this Agreement (together with the relevant contact information);

 

(iv)          any matter affecting the servicing and administration of the Mortgage Loan that requires delivery of a Rating Agency Confirmation
pursuant to the Securitization Servicing Agreement shall also require delivery of a Rating Agency Confirmation under each Non-Lead
Securitization Servicing Agreement; and

 

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

 

(h)          The Servicing Agreement shall provide that compensating interest payments as defined therein with respect to Note A-1, Note A-2,
Note A-3, Note A-4 and Note A-5 will be

 

    27 

     

    

 

allocated by the Master Servicer between Note A-1, Note A-2, Note A-3, Note A-4 and Note
A-5, pro rata, in accordance with their respective principal amounts. The Master Servicer shall remit any compensating
interest payment in respect of the Non-Lead Securitization Note to the Non-Lead Securitization Noteholder.

 

(i)          In the event any filing is required to be made by any Non-Lead Depositor under the related Securitization Servicing Agreement
in order to comply with the Non-Lead Depositor’s requirements under the Securities Exchange Act of 1934, as amended, the
related Non-Lead Securitization Noteholder (including the related Non-Lead Depositor and related Non-Lead Trustee) shall use commercially
reasonable efforts to timely comply with any such filing.

 

(j)          Each Non-Lead Securitization Noteholder shall give each of the parties to the Securitization Servicing Agreement and the Note
B Holder (that will not also be a party to the related Non-Lead Securitization Servicing Agreement) notice of the Non-Lead Securitization
in writing (which may be by e-mail) promptly after the related Non-Lead Securitization Date. Such notice shall contain contact
information for each of the parties to the related Non-Lead Securitization Servicing Agreement. In addition, after the related
Non-Lead Securitization Date, the related Non-Lead Securitization Noteholder shall send a copy of the related Non-Lead Securitization
Servicing Agreement to each of the parties to the Securitization Servicing Agreement and the Note B Holder.

 

Section
3.          Subordination of Note B; Payments
Prior to a Sequential Pay Event. The Note B and the right of the Note B Holder to receive payments of interest, principal
and other amounts with respect to its Note B shall at all times be junior, subject and subordinate to Note A-1, Note A-2, Note
A-3, Note A-4 and Note A-5 and the right of the Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder
and the Note A-5 Holder to receive payments of interest, principal and other amounts with respect to Note A-1, Note A-2, Note
A-3, Note A-4 and Note A-5 as set forth herein. If no Sequential Pay Event, as determined by the applicable Servicer, shall have
occurred and be continuing, 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 or indemnity, letter of
credit or other collateral or instrument securing the Mortgage Loan or Insurance and Condemnation 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, to the extent permitted by the REMIC Provisions), 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 Advances then due and payable or reimbursable to the Servicer under the Servicing Agreement and (y) all amounts that are then
due, payable or reimbursable to any Servicer, Securitization Operating Advisor, Certificate Administrator or Trustee with respect
to the Mortgage Loan pursuant to the Servicing Agreement, shall be applied by the Note A-1 Holder (or its designee) and distributed
by the Servicer for payment in the following order of priority without duplication (and payments shall be made at such times as
are set forth in the Servicing Agreement):

 

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(a)          first, to the Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder and the Note A-5 Holder, pro rata
(based on their respective entitlements to interest), in an amount equal to the accrued and unpaid interest on the Note A-1 Principal
Balance at the Net Note A-1 Rate, on the Note A-2 Principal Balance at the Net Note A-2 Rate, on the Note A-3 Principal Balance
at the Net Note A-3 Rate, on the Note A-4 Principal Balance at the Net Note A-4 Rate and on the Note A-5 Principal Balance at
the Net Note A-5 Rate, respectively;

 

(b)          second, to the Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder and the Note A-5 Holder on a Pro
Rata and Pari Passu Basis in an amount equal to their respective Percentage Interests of Net Proceeds (as defined in the Mortgage
Loan Agreement) required under Section 2.3.2 of the Mortgage Loan Agreement to be applied to prepay the outstanding principal
balance of the Mortgage Loan, until their Principal Balances have been reduced to zero;

 

(c)          third, to the Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder and the Note A-5 Holder pro rata
(based on their respective entitlements) up to the amount of any unreimbursed out-of-pocket costs and expenses paid by such Note
A-1 Holder, Note A-2 Holder, Note A-3 Holder, Note A-4 Holder and/or such Note A-5 Holder, including any Recovered Costs not previously
reimbursed to such Noteholder (or paid or advanced by any Servicer on its behalf and not previously paid or reimbursed) with respect
to the Mortgage Loan pursuant to this Agreement or the Servicing Agreement;

 

(d)          fourth, to the Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder and the Note A-5 Holder on a Pro
Rata and Pari Passu Basis in an amount equal to the product of (i) the Percentage Interest of such Note multiplied by (ii) any
Prepayment Premium to the extent paid by the Mortgage Loan Borrower;

 

(e)          fifth, if the proceeds of any foreclosure sale or any liquidation of the Mortgage Loan or Mortgaged Property exceed the amounts
required to be applied in accordance with the foregoing clauses (a)-(d) and, as a result of a Workout the Principal Balance of
the Note A-1, the Note A-2, the Note A-3, the Note A-4 and the Note A-5 has been reduced, such excess amount shall be paid to
the Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder and the Note A-5 Holder in an amount up to
the reduction, if any, of the Note A-1, Note A-2, Note A-3, Note A-4 and Note A-5 Principal Balance as a result of such Workout,
plus interest on such amount at the related Note A-1, Note A-2, Note A-3, Note A-4 and Note A-2 Rate;

 

(f)          sixth, to the Note B Holder in an amount equal to the accrued and unpaid interest on the Note B Principal Balance at the Net Note
B Rate;

 

(g)          seventh, to the Note B Holder in the amount of the Note B Scheduled Amortization Payment (as defined in the Mortgage Loan
Agreement) and then to the Senior Noteholders in the amount of the Note A Scheduled Amortization Payment (as defined in the Mortgage
Loan Agreement), as set forth on Schedule IX to the Mortgage Loan Agreement;

 

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(h)          eighth, to the Note B Holder, in an amount equal to its Percentage Interest of Net Proceeds (as defined in the Mortgage Loan
Agreement) required under Section 2.3.2 of the Mortgage Loan Agreement to be applied to prepay the outstanding principal balance
of the Mortgage Loan;

 

(i)          ninth, to the Note B Holder in an amount equal to the product of (i) the Percentage Interest of such Note multiplied by (ii)
any Prepayment Premium to the extent paid by the Mortgage Loan Borrower;

 

(j)          tenth, to the extent the Note B Holder has made any payments or advances to cure defaults pursuant to Section 11, to
reimburse the Note B Holder for all such cure payments;

 

(k)          eleventh, if the proceeds of any foreclosure sale or any liquidation of the Mortgage Loan or Mortgaged Property exceed the
amounts required to be applied in accordance with the foregoing clauses (a)-(j) and, as a result of a Workout the Principal Balance
of Note B has been reduced, such excess amount shall be paid to the Note B Holder in an amount up to the reduction, if any, of
the Note B Principal Balance as a result of such Workout, plus interest on such amount at the related Note B Rate;

 

(l)          twelfth, to the extent assumption or transfer fees actually paid by the Mortgage Loan Borrower are not required to be otherwise
applied under the Servicing Agreement, including, without limitation, to provide reimbursement for interest on any Advances, to
pay any Additional Servicing Expenses or to compensate a Servicer (in each case provided that such reimbursements or payments
relate to the Mortgage Loan), any such assumption or transfer fees, to the extent actually paid by the Mortgage Loan Borrower,
shall be paid to the Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder, the Note A-5 Holder and the
Note B Holder, pro rata based on their respective Percentage Interests; and

 

(m)          thirteenth, if any excess amount is available to be distributed in respect of the Mortgage
Loan, and not otherwise applied in accordance with the foregoing clauses (a)-(l), any remaining amount shall be paid pro rata
to the Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder, the Note A-5 Holder and the Note B Holder
in accordance with their respective initial Percentage Interests.

 

Section
4.          Payments Following a Sequential
Pay Event. Payments of interest and principal shall be made to the Noteholders in accordance with Section 3 of this
Agreement; provided, if a Sequential Pay Event, as determined by the applicable Servicer and as set forth in the Servicing
Agreement, shall have occurred and be continuing, 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 (including without limitation amounts received by the Master Servicer or Special Servicer pursuant to the Servicing Agreement
as reimbursements on account of recoveries in respect of Advances), whether received in the form of Monthly Payments, any proceeds
from the sale or distribution of any REO Property, the Balloon Payment, Liquidation Proceeds, proceeds under any guaranty or indemnity,
letter of credit or other collateral or instrument securing the

 

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Mortgage Loan or Insurance and Condemnation 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, to the extent permitted by the REMIC Provisions), but
excluding (x) all amounts for required reserves or escrows required by the Mortgage Loan Documents to continue to be held as reserves
or escrows or received as reimbursements on account of recoveries in respect of Advances then due and payable or reimbursable
to the Servicer under Servicing Agreement and (y) all amounts that are then due, payable or reimbursable to any Servicer, Lead
Securitization Operating Advisor, Certificate Administrator or Trustee with respect to this Mortgage Loan pursuant to the Servicing
Agreement with respect to the Mortgage Loan, shall be distributed by the Servicer in the following order of priority without duplication
(and payments shall be made at such times as are set forth in the Servicing Agreement):

 

(a)          first, to the Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder and the Note A-5 Holder, pro rata
(based on their respective entitlements to interest), in an amount equal to the accrued and unpaid interest on the Note A-1 Principal
Balance at the Net Note A-1 Rate, on the Note A-2 Principal Balance at the Net Note A-2 Rate, on the Note A-3 Principal Balance
at the Net Note A-3 Rate, on the Note A-4 Principal Balance at the Net Note A-4 Rate and on the Note A-5 Principal Balance at
the Net Note A-5 Rate, respectively;

 

(b)          second, to the Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder and the Note A-5 Holder, pro
rata (based on their respective Principal Balances), until their outstanding Principal Balances have been reduced to zero;

 

(c)          third, to the Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder and the Note A-5 Holder, pro
rata (based on their respective entitlements), up to the amount of any unreimbursed out of pocket costs and expenses paid by such
Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder and the Note A-5 Holder including any Recovered
Costs not previously reimbursed to such Noteholder (or paid or advanced by any Servicer on its behalf and not previously paid
or reimbursed) with respect to the Mortgage Loan pursuant to this Agreement or the Servicing Agreement;

 

(d)          fourth, to the Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder and the Note A-5 Holder on a
Pro Rata and Pari Passu Basis in an amount equal to the product of (i) the Percentage Interest of such Note multiplied by (ii)
any Prepayment Premium to the extent paid by the Mortgage Loan Borrower;

 

(e)          fifth, if the proceeds of any foreclosure sale or any liquidation of the Mortgage Loan or Mortgaged Property exceed the amounts
required to be applied in accordance with the foregoing clauses (a)-(d) and, as a result of a Workout the Principal Balance of
the Note A-1, Note A-2, Note A-3, Note A-4 and Note A-5 has been reduced, such excess amount shall be paid to the Note A-1 Holder,
the Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder and the Note A-5 Holder in an amount up to the reduction, if any,
of the Note A-1, Note A-2, Note A-3, Note A-4 and Note A-5 Principal Balance as a result of such Workout, plus interest on such
amount at the related Note A-1 Rate, Note A-2 Rate, Note A-3 Rate, Note A-4 Rate and Note A-5 Rate;

 

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(f)          sixth, to the Note B Holder in an amount equal to the accrued and unpaid interest on the Note B Principal Balance at the Net
Note B Rate;

 

(g)          seventh, to the Note B Holder until the Note B Principal Balance has been reduced to zero;

 

(h)          eighth, to the Note B Holder in an amount equal to the product of (i) the Percentage Interest of such Note multiplied by (ii)
any Prepayment Premium to the extent paid by the Mortgage Loan Borrower;

 

(i)          ninth, to the extent the Note B Holder has made any payments or advances to cure defaults pursuant to Section 11, to
reimburse the Note B Holder for all such cure payments;

 

(j)          tenth, if the proceeds of any foreclosure sale or any liquidation of the Mortgage Loan or Mortgaged Property exceed the amounts
required to be applied in accordance with the foregoing clauses (a)-(i) and, as a result of a Workout the Principal Balance of
the Note B has been reduced, such excess amount shall be paid to the Note B Holder in an amount up to the reduction, if any, of
the Note B Principal Balance as a result of such Workout, plus interest on such amount at the related Note B Rate;

 

(k)          eleventh, to the extent assumption or transfer fees actually paid by the Mortgage Loan Borrower are not required to be otherwise
applied under the Servicing Agreement, including, without limitation, to provide reimbursement for interest on any Advances, to
pay any Additional Servicing Expenses or to compensate a Servicer (in each case provided that such reimbursements or payments
relate to the Mortgage Loan), any such assumption or transfer fees, to the extent actually paid by the Mortgage Loan Borrower,
shall be paid to the Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder, the Note A-5 Holder and the
Note B Holder, pro rata, based on their respective Percentage Interests; and

 

(l)          twelfth, if any excess amount is available to be distributed in respect of the Mortgage Loan, and not otherwise applied in
accordance with the foregoing clauses (a)-(k), any remaining amount shall be paid pro rata to the Note A-1 Holder, the
Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder, the Note A-5 Holder and the Note B Holder in accordance with their
respective Percentage Interests.

 

Section
5.          Administration of the Mortgage Loan.

 

(a)    Subject to this Agreement (including, without limitation, Section 5(f) below) and the Servicing Agreement and consistent
with the Servicing Standard, the Lead Securitization Noteholder (or the Servicer acting on behalf of the Lead Securitization Noteholder)
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

 

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foreclosure action or other remedy and the Junior
Noteholder shall not have any voting, consent or other rights whatsoever with respect to the Senior Noteholder’s administration
of, or exercise of its rights and remedies with respect to, the Mortgage Loan. Subject to this Agreement and the Servicing Agreement
(including, without limitation, Section 5(f) below), each of the Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder,
the Note A-5 Holder and the Note B Holder agrees that it shall have no right to, and hereby presently and irrevocably assigns
and conveys to the Lead Securitization Noteholder (or the Servicer acting on behalf of the Lead Securitization Noteholder) the
rights, if any, that each of the Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder, the Note A-5 Holder and the Note B
Holder has to, (i) call or cause the Lead Securitization Noteholder 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 Noteholder to file any bankruptcy petition against the Mortgage Loan Borrower. The Lead
Securitization Noteholder (or the Servicer acting on behalf of the Lead Securitization Noteholder) shall not have any fiduciary
duty to the Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder, the Note A-5 Holder or the Note B Holder in connection
with the administration of the Mortgage Loan (but the foregoing shall not relieve the Lead Securitization Noteholder from the
obligation to make any disbursement of funds as set forth herein).

 

Subject
to Sections 11 and 12 hereof, upon the Mortgage Loan becoming a Defaulted Mortgage Loan, the Non-Lead Securitization
Noteholders hereby acknowledge the right and obligation of the Lead Securitization Noteholder (or the Special Servicer acting
on behalf of the Lead Securitization Noteholder) to sell the Non-Lead Securitization Notes together with the Lead Securitization
Note as notes evidencing one whole A note 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 Non-Lead Securitization Note(s) together with the Lead
Securitization Note in the manner set forth in the Lead Securitization Servicing Agreement.

 

The
Non-Lead Securitization Noteholder hereby appoints the Lead Securitization Noteholder as its agent, and grants to the Lead Securitization
Noteholder an irrevocable power of attorney coupled with an interest, and their proxy, for the purpose of soliciting and accepting
offers for and consummating the sale of Non-Lead Securitization Note. The Non-Lead Securitization Noteholder further agrees that,
upon the request of the Lead Securitization Noteholder, the Non-Lead Securitization Noteholder shall execute and deliver to or
at the direction of Lead Securitization Noteholder such powers of attorney or other instruments as the Lead Securitization Noteholder
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
Noteholder in connection with the consummation of any such sale.

 

The
authority of the Lead Securitization Noteholder to sell the Non-Lead Securitization Note, and the obligations of the Non-Lead
Securitization Noteholder to execute and deliver instruments or deliver the Non-Lead Securitization Note upon request of the Lead
Securitization Noteholder, shall terminate and cease to be of any further force or effect upon the date, if any, upon which Lead
Securitization Note is repurchased by the Note A-1 Holder from the trust fund established under the Lead Securitization Agreement
in connection with a material breach of representation or warranty made by the Note A-1 Holder with respect to Lead

 

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Securitization
Note or material document defect with respect to the documents delivered by the Note A-1 Holder with respect to Lead Securitization
Note upon the consummation of the Lead Securitization. The preceding sentence shall not be construed to grant to the Non-Lead
Securitization Noteholder the benefit of any representation or warranty made by the Note A-1 Holder or any document delivery obligation
imposed on the Note A-1 Holder under any mortgage loan purchase and sale agreement, instrument of transfer or other document or
instrument that may be executed or delivered by the Note A-1 Holder in connection with the Lead Securitization.

 

(b)    The administration of the Mortgage Loan shall be governed by this Agreement and the Servicing Agreement. Each Noteholder agrees
to be bound by the terms of the Servicing Agreement. The Lead Securitization Noteholder (or the Servicer on its behalf) shall
service the Mortgage Loan in accordance with the terms of this Agreement, including without limitation, the rights of the Note
B Holder set forth in Section 5(f) below. Servicing of the Mortgage Loan shall be carried out by the Master Servicer and,
if the Mortgage Loan is a Specially Serviced Mortgage Loan, by the Special Servicer, in each case pursuant to the Servicing Agreement
and this Agreement. Notwithstanding anything to the contrary contained herein, in accordance with the Servicing Agreement, the
Lead Securitization Noteholder 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 each of the Noteholders as a collective whole
(it being understood that the interest of the Note B Holder is a junior Note interest, subject to the terms and conditions of
this Agreement), and any Note A-2 Holder, Note A-3 Holder , Note A-4 Holder , Note A-5 Holder or the Note B Holder who is not
the Mortgage Loan Borrower or a Mortgage Loan Borrower Related Party shall be deemed a third party beneficiary of such provisions
of the Servicing Agreement. The foregoing provisions of this Section 5(b) shall not limit or modify the rights of
the Controlling Noteholder and/or the Junior Operating Advisor to exercise their respective rights specifically set forth under
this Agreement.

 

(c)    Notwithstanding anything to the contrary contained herein, but subject to the terms and conditions of the Servicing Agreement
and this Agreement (including, without limitation, Sections 5(f) and 6), if the Lead Securitization Noteholder (or
the Servicer on its behalf) in connection with a Workout of the Mortgage Loan modifies the terms thereof such that (i) the
unpaid principal balance of the Mortgage Loan is decreased, (ii) the Interest Rate or scheduled amortization payments on
such Mortgage Loan are reduced, (iii) payments of interest or principal on such Mortgage Loan are waived, reduced or deferred
or (iv) any other adjustment (other than an increase in the Interest Rate or increase in scheduled amortization payments)
is made to any of the terms of the Mortgage Loan, all payments to the Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder,
the Note A-4 Holder and the Note A-5 Holder pursuant to Section 3 and Section 4, as applicable, shall
be made as though such Workout did not occur, with the payment terms of Note A-1, Note A-2, Note A-3, Note A-4 and Note A-5 remaining
the same as they are on the date hereof, the Note B shall bear the full economic effect of all waivers, reductions or deferrals
of amounts due on the Mortgage Loan attributable to such Workout (up to the amount otherwise due on the Note B). Subject to the
Servicing Agreement and this Agreement (including without limitation Sections 5(f) and 6), in the case of any
modification or amendment described above, the Lead Securitization Noteholder (or the Servicer on its behalf) will have the sole
authority and ability to revise the payment provisions set forth in Section 3 and

 

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Section 4 above in a
manner that reflects the subordination of the Note B to Note A-1, Note A-2, Note A-3, Note A-4 and Note A-5 with respect to the
loss that is the result of such amendment or modification, including: (i) the ability to increase the Note A-1 Percentage
Interest, Note A-2 Percentage Interest, Note A-3 Percentage Interest, Note A-4 Percentage Interest and Note A-5 Percentage Interest
and to reduce the Note B Percentage Interest in a manner that reflects a loss in principal as a result of such amendment or modification
and (ii) the ability to change the Note A-1 Rate, the Note A-2 Rate, the Note A-3 Rate, the Note A-4 Rate, the Note A-5 Rate
and the Note B Rate, as applicable, in order to reflect a reduction in the Interest Rate of the Mortgage Loan but shall not be
permitted to change the order of the clauses set forth in Sections 3 and 4 hereof. Notwithstanding the foregoing,
if any Workout, modification or amendment of the Mortgage Loan extends the original maturity date of the Mortgage Loan, for purposes
of this paragraph, the Balloon Payment will be deemed not to be due on the original maturity date of the Mortgage Loan but will
be deemed due on the extended maturity date of the Mortgage Loan.

 

(d)    All rights and obligations of the Lead Securitization Noteholder described hereunder may be exercised by the Servicers on behalf
of the Lead Securitization Noteholder in accordance with the Servicing Agreement and this Agreement.

 

(e)    If any Note is included as an asset of a REMIC, any provision of this Agreement to the contrary notwithstanding: (i) the Mortgage
Loan shall be administered such that the Notes shall each qualify at all times as (or as interests in) a “qualified mortgage”
within the meaning of Section 860G(a)(3) of the Code, (ii) any real property (and related personal property) acquired by or on
behalf of the Noteholders 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 Noteholders 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 Noteholders
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 months after the earliest startup day of any REMIC which includes the Lead Securitization Note (or any portion thereof).
The Noteholders agree that the provisions of this Section 5(e) shall be effected by compliance by the Lead Securitization Noteholder
or its assignees with this Agreement or the Servicing Agreement or any other agreement which governs the administration of the
Mortgage Loan or the Lead Securitization Noteholder’s interests therein. All costs and expenses of compliance with this
Section 5(e), to the extent that such costs and expenses relate to administration of a REMIC or to any determination respecting
the amount, payment or avoidance of any tax under the REMIC Provisions or the actual payment of any REMIC tax or expense, shall
be borne by the Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder and the Note A-5 Holder on a pro
rata and pari passu basis.

 

Anything
herein or in the Securitization Servicing Agreement to the contrary notwithstanding, in the event that one of the A-1 Note, the
A-2 Note, the A-3 Note, the A-4 Note or the A-5 Note is included in a REMIC and the other is not, such other Noteholder shall
not be required to reimburse such Noteholder that deposited its respective Note in the REMIC or any

 

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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 Noteholders be
reduced to offset or make-up any such payment or deficit.

 

(f)    Notwithstanding any provision of this Agreement to the contrary (other than the provisions of this Section 5(f)), if any
consent, modification, amendment or waiver under or other action in respect of a Mortgage (whether or not a Servicing Transfer
Event has occurred and is continuing) that would constitute a Major Decision has been requested or proposed, at least ten (10)
Business Days prior to taking action with respect to such Major Decision (or making a determination not to take action with respect
to such Major Decision), the Lead Securitization Noteholder (or the Servicer on its behalf) shall request the written consent
of the Controlling Noteholder (or its Junior Operating Advisor) before implementing a decision with respect to such Major Decision.
Except as otherwise herein provided, the Senior Noteholder shall obtain the written consent of the Controlling Noteholder (or
its Operating Advisor) for all Major Decisions and shall not take any action constituting a Major Decision without complying with
the provisions of this Agreement.

 

If
the Lead Securitization Noteholder (or the Servicer acting on its behalf) has not received a response from the Controlling Noteholder
(or its Junior Operating Advisor) with respect to such Major Decision within five (5) Business Days after delivery of the notice
of a Major Decision, the Lead Securitization Noteholder (or the Servicer acting on its behalf) shall deliver an additional copy
of the notice of a Major Decision in all caps bold 14-point font: “THIS IS A SECOND NOTICE. FAILURE TO RESPOND WITHIN
FIVE (5) BUSINESS DAYS OF THIS SECOND NOTICE WILL RESULT IN A LOSS OF YOUR RIGHT TO CONSENT WITH RESPECT TO THIS DECISION”
and if the Controlling Noteholder (or its Junior Operating Advisor) fails to respond to the Lead Securitization Noteholder (or
the Servicer acting on its behalf) with respect to any such proposed action within five (5) Business Days after receipt of such
second notice, the Controlling Noteholder (or its Junior Operating Advisor), as applicable, shall have no further consent rights
with respect to the specific action set forth in such notice.

 

Notwithstanding
the foregoing, following the occurrence of an extraordinary event with respect to any Mortgaged Property, or if a failure to take
any such action at such time would be inconsistent with the Servicing Standard, the Lead Securitization Noteholder (or Servicer
acting on its behalf) may take actions with respect to such Mortgaged Property before obtaining the consent of the Controlling
Noteholder (or its Junior Operating Advisor) if the Lead Securitization Noteholder (or Servicer acting on its behalf) reasonably
determines in accordance with the Servicing Standard that failure to take such actions prior to such consent would materially
and adversely affect the interest of the Noteholders, and the Lead Securitization Noteholder (or Servicer acting on its behalf)
has made a reasonable effort to contact the Controlling Noteholder (or its Junior Operating Advisor). The foregoing shall not
relieve the Lead Securitization Noteholder (or Servicer acting on its behalf) of its duties to comply with the Servicing Standard.

 

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Notwithstanding
the foregoing, the Lead Securitization Noteholder (or the Servicer acting on its behalf) shall not follow any advice or consultation
provided by the Controlling Noteholder (or its Junior Operating Advisor) that would require or cause the Lead Securitization Noteholder
(or the Servicer acting on its behalf) to violate any applicable law, including the REMIC Provisions, be inconsistent with the
Servicing Standard, require or cause the Lead Securitization Noteholder (or the Servicer acting on its behalf) to violate provisions
of this Agreement or the Servicing Agreement, require or cause the Lead Securitization Noteholder (or the Servicer acting on its
behalf) to violate the terms of the Mortgage Loan, or materially expand the scope of any Lead Securitization Noteholder’s
(or the Servicer acting on its behalf) responsibilities under this Agreement or the Servicing Agreement.

 

(g)    The Controlling Noteholder shall be entitled to avoid its applicable Control Appraisal Period caused by application of an Appraisal
Reduction Amount upon satisfaction of the following (which must be completed within thirty (30) days of the Special Servicer’s
receipt of a third party Appraisal that indicates such Control Appraisal Period has occurred; (i) such Controlling Noteholder
shall have delivered as a supplement to the appraised value of the Mortgaged Property, in the amount specified in clause (ii)
below, to the Servicer, together with documentation acceptable to the Servicer in accordance with the Servicing Standard to create
and perfect a first priority security interest in favor of the Servicer on behalf of the Note A-1 Holder, the Note A-2 Holder,
the Note A-3 Holder, the Note A-4 Holder and the Note A-5 Holder in such collateral (a) cash collateral for the benefit of, and
acceptable to, the Servicer or (b) an unconditional and irrevocable standby letter of credit with the Note A-1 Holder, the Note
A-2 Holder, the Note A-3 Holder, the Note A-4 Holder and the Note A-5 Holder as the beneficiary, issued by a bank or other financial
institutions the long term unsecured debt obligations of which are rated at least “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 (either (a) or (b), the “Threshold Event Collateral”),
and (ii) the Threshold Event Collateral shall be in an amount which, when added to the appraised value of the Mortgaged Property
as determined pursuant to the Servicing Agreement, would cause the applicable Control Appraisal Period not to occur. If the requirements
of this paragraph are satisfied by the Controlling Noteholder (a “Threshold Event Cure”), no Control Appraisal
Period caused by application of an Appraisal Reduction Amount shall be deemed to have occurred. If a letter of credit is furnished
as Threshold Event Collateral, the applicable Controlling Noteholder shall be required to renew such letter of credit not later
than thirty (30) days prior to expiration thereof or to replace such letter of credit with a substitute letter of credit or other
Threshold Event Collateral with an expiration date that is greater than forty-five (45) days from the date of substitution; provided,
however, that, if a letter of credit is not renewed prior to thirty (30) days prior to the expiration date of such letter
of credit, the letter of credit shall provide that the Servicer may (and at the direction of the applicable Controlling Noteholder,
shall) draw upon such letter of credit and hold the proceeds thereof as Threshold Event Collateral. If a letter of credit is furnished
as Threshold Event Collateral, the applicable Controlling Noteholder shall be required to replace such letter of credit with other
Threshold Event Collateral within thirty (30) days if the credit ratings of the issuing entity are downgraded below the required
ratings; provided, however, that, if such Threshold Event Collateral is not so replaced, the Servicer shall draw
upon such letter of credit and hold the proceeds thereof as Threshold Event Collateral. The Threshold Event Cure shall continue
until (i) the appraised value of the Mortgaged Property plus the value of the Threshold Event Collateral would not be sufficient
to prevent a Control

 

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Appraisal Period from occurring; or (ii) the occurrence of a Final Recovery Determination. If the appraised
value of the Mortgaged Property, upon any redetermination thereof, is sufficient to avoid the occurrence of a Control Appraisal
Period without taking into consideration any, or some portion of, Threshold Event Collateral previously delivered by the Controlling
Noteholder, any or such portion of Threshold Event Collateral held by the Servicer shall promptly be returned to such Controlling
Noteholder (at its sole expense). Upon a Final Recovery Determination with respect to the Mortgage Loan, such Threshold Event
Collateral shall be available to reimburse each Noteholder for any realized loss pursuant to Section 3 or 4, as
applicable, with respect to the Mortgage Loan after application of the net proceeds of liquidation, not in excess of the Note
A-1 Principal Balance, the Note A-2 Principal Balance, the Note A-3 Principal Balance the Note A-4 Principal Balance, the Note
A-5 Principal Balance and the Note B Principal Balance, as the case may be, plus accrued and unpaid interest thereon at the applicable
interest rate and all other Additional Servicing Expenses reimbursable under this Agreement and under the Servicing Agreement.
Any Threshold Event Collateral shall be treated as an “outside reserve fund” for purposes of the REMIC Provisions
and such property (and the right to reimbursement of any amounts with respect thereto from a REMIC) shall be beneficially owned
by the posting Noteholder who shall be taxed on all income with respect thereto. The entire amount of Threshold Event Collateral,
without a haircut or other reduction, shall be considered in determining the sufficiency of such Threshold Event Collateral to
avoid a Control Appraisal Period.

 

(h)    The Servicer or Special Servicer shall obtain appraisals that meet the requirements of, and at the times required pursuant to,
the terms of the Securitization Servicing Agreement.

 

(i)    Notwithstanding anything to the contrary contained herein or in the Servicing Agreement, if at any time the Mortgage Loan Borrower
or a Mortgage Loan Borrower Related Party is a Noteholder (a “Borrower Party Noteholder”), then (i) such Borrower
Party Noteholder shall not have any rights as a Controlling Noteholder or a Controlling Class Representative, (ii) such Borrower
Party Noteholder shall have no right to appoint or terminate the Master Servicer or Special Servicer, (iii) such Borrower Party
Noteholder shall have no right to consult with or advise the Master Servicer or Special Servicer, and shall have no right to review
and approve or comment on any Asset Status Report and (iv) in each and every instance where, pursuant to this Agreement or the
Servicing Agreement, the Master Servicer or Special Servicer must take into account the interests of each Noteholder (or words
of similar import), such consideration shall be given to the Borrower Party Noteholder only in its capacity as a holder of the
applicable Note, and the Master Servicer or Special Servicer (as the case may be) shall disregard the fact that the Borrower Party
Noteholder is either the Mortgage Loan Borrower or a Mortgage Loan Borrower Related Party and as such, may have conflicting interests
from a Noteholder (in its capacity as a Noteholder).

 

Section
6.          Appointment of Junior Operating Advisor.

 

(a)    The Controlling Noteholder shall have the right at any time to appoint a Junior Operating Advisor to exercise its rights hereunder
(the “Junior Operating Advisor”). The Controlling Noteholder shall have the right in its sole discretion at
any time and from time to time to remove and replace the Junior Operating Advisor. When exercising its various rights

 

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 under
Section 5 and elsewhere in this Agreement, the Controlling Noteholder may, at its option, in each case, act through the Junior
Operating Advisor. The Junior Operating Advisor 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 Noteholder, any officer or employee of
the Controlling Noteholder, any Affiliate of the Controlling Noteholder or any other unrelated third party. No such Junior Operating
Advisor shall owe any fiduciary duty or other duty to any other Person (other than the Controlling Noteholder). All actions that
are permitted to be taken by the Controlling Noteholder under this Agreement may be taken by the Junior Operating Advisor acting
on behalf of the Controlling Noteholder and the Lead Securitization Noteholder (and any Servicer) will accept such actions of
the Junior Operating Advisor as actions of the Controlling Noteholder. Lead Securitization Noteholder (or any Servicer on its
behalf) shall not be required to recognize any Person as an Junior Operating Advisor until the Controlling Noteholder has notified
the Lead Securitization Noteholder (and any Servicer) of such appointment and, if the Junior Operating Advisor is not the same
Person as the Controlling Noteholder, the Junior Operating Advisor provides the Lead Securitization Noteholder (and any Servicer)
with written confirmation of its acceptance of such appointment, an address, any fax number and any email address 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, telephone numbers, any fax numbers and any email addresses). Lead Securitization
Noteholder shall promptly deliver such information to any Servicer.

 

(b)    Neither the Junior Operating Advisor nor the Controlling Noteholder will have any liability to the other Noteholders or any other
Person for any action taken, or for refraining from the taking of any action or in the giving of any consent or the failure to
give any consent pursuant to this Agreement or the Servicing Agreement, or for errors in judgment, absent any loss, liability
or expense incurred by reason of its willful misfeasance, bad faith or gross negligence. The Noteholders agree that the Junior
Operating Advisor and any Controlling Noteholder (whether acting in place of the Junior Operating Advisor when no Junior Operating
Advisor shall have been appointed hereunder or otherwise exercising any right, power or privilege granted to such Controlling
Noteholder hereunder) may take or refrain from taking actions that favor the interests of one Noteholder over any other Noteholder,
and that the Junior Operating Advisor may have special relationships and interests that conflict with the interests of a Noteholder
and, absent willful misfeasance, bad faith or gross negligence on the part of the Junior Operating Advisor or such Controlling
Noteholder, as the case may be, agree to take no action against the Junior Operating Advisor, such Controlling Noteholder or any
of their respective officers, directors, employees, principals or agents as a result of such special relationships or interests,
and that neither the Junior Operating Advisor nor such Controlling Noteholder 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 solely in the interests of any Noteholder.

 

(c)    If the Lead Securitization Noteholder is the Controlling Noteholder, the Note B Holder acknowledges and agrees all of the aforementioned
rights and obligations of the Controlling Noteholder and the Junior Operating Advisor set forth in Section 5(f) and 5(g)
and

 

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this Section 6 shall be exercisable by the Lead Securitization Noteholder (or the applicable Person specified
in the Servicing Agreement) to the extent set forth in the Servicing Agreement.

 

Section
7.          Special Servicer. The Controlling
Noteholder (or its Junior Operating Advisor), at its expense (including, without limitation, the reasonable costs and expenses
of counsel to any third parties and costs and expenses of the terminated Special Servicer), shall have the right to appoint the
Special Servicer with respect to the Mortgage Loan and hereby initially appoints Rialto Capital Advisors, LLC as Special Servicer
with respect to the Mortgage Loan. The Controlling Noteholder (or its Junior Operating Advisor) shall be entitled to terminate
the rights and obligations of the Special Servicer under the Servicing Agreement, with or without cause, upon at least ten (10)
Business Days’ prior written notice to the Special Servicer (provided, however, that the Controlling Noteholder, Junior
Operating Advisor and/or Note B Holder shall not be liable for any termination or similar fee in connection with the removal of
the Special Servicer in accordance with this Section 7); such termination shall not be effective unless and until (A) each
Rating Agency delivers Rating Agency Confirmation (to the extent any portion of the Mortgage Loan has been securitized); (B) the
initial or successor Special Servicer has assumed in writing (from and after the date such successor Special Servicer becomes
the Special Servicer) all of the responsibilities, duties and liabilities of the Special Servicer under the Servicing Agreement
from and after the date it becomes the Special Servicer as they relate to the Mortgage Loan pursuant to an assumption agreement
reasonably satisfactory to the Trustee; and (C) the Trustee shall have received an opinion of counsel reasonably satisfactory
to the Trustee to the effect that (x) the designation of such replacement to serve as Special Servicer is in compliance with the
Servicing Agreement, (y) such replacement will be bound by the terms of the Servicing Agreement with respect to such Mortgage
Loan and (z) subject to customary qualifications and exceptions, the applicable Servicing Agreement will be enforceable against
such replacement in accordance with its terms. The Lead Securitization Noteholder shall promptly provide copies to any terminated
Special Servicer of the documents referred to in the preceding sentence.

 

Section
8.          Payment Procedure.

 

(a)    The Lead Securitization Noteholder (or the Servicer on its behalf), in accordance with the priorities set forth in Section
3 or 4, as applicable, and subject to the terms of the Servicing Agreement, will deposit or cause to be deposited all
payments allocable to the Notes to the Collection Account for the Notes established pursuant to the Servicing Agreement. The Lead
Securitization Noteholder (or the Servicer on its behalf) shall establish a segregated sub-account for amounts due to the each
Noteholder. The Lead Securitization Noteholder (or the Servicer acting on its behalf) shall deposit such amounts to the applicable
account within one (1) Business Day of receipt of properly identified and available funds by the Lead Securitization Noteholder
(or the Master acting on its behalf) from or on behalf of the Mortgage Loan Borrower (provided, that to the extent that any payment
is received after 2:00 p.m. (Eastern time) on any given Business Day, the Servicer is required to use commercially reasonable
efforts to deposit such payment into the applicable account within one (1) Business Day of receipt of properly identified and
available funds, but, in any event, the Servicer is required to deposit such payments into the applicable account within two (2)
Business Days of receipt of properly identified and available funds).

 

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(b)    If the Lead Securitization Noteholder (or the Servicer on its behalf) determines, or a court of competent jurisdiction orders,
at any time that any amount received or collected in respect of a Note must, pursuant to any insolvency, bankruptcy, fraudulent
conveyance, preference or similar law, be returned to the Mortgage Loan Borrower or paid to such Noteholder or any Servicer or
paid to any other Person, then, notwithstanding any other provision of this Agreement, a Lead Securitization Noteholder (or the
Servicer on its behalf) shall not be required to distribute any portion thereof to such Noteholder and such Noteholder will promptly
on demand by the Lead Securitization Noteholder (or the Servicer on its behalf) repay to the Lead Securitization Noteholder (or
the Servicer on its behalf) any portion thereof that the Lead Securitization Noteholder (or the Servicer on its behalf) shall
have theretofore distributed to such Noteholder, together with interest thereon at such rate, if any, as the Lead Securitization
Noteholder shall have been required to pay to any Mortgage Loan Borrower, the Note A-1 Holder, Master Servicer, Special Servicer
or such other Person with respect thereto.

 

(c)    If, for any reason, the Lead Securitization Noteholder (or the Servicer on its behalf) makes any payment to the Note B Holder
before the Lead Securitization Holder (or the Servicer on its behalf) has received the corresponding payment (it being understood
that the Lead Securitization Noteholder (or the Servicer on its behalf) is under no obligation to do so), and the Lead Securitization
Noteholder (or the Servicer on its behalf) does not receive the corresponding payment within three (3) Business Days of its payment
to such Note B Holder, such Note B Holder will, at the Lead Securitization Holder’s (or the Servicer’s on its behalf)
request, promptly return that payment to the Lead Securitization Noteholder (or the Servicer on its behalf).

 

(d)    Each Noteholder 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 will promptly remit such excess to the Senior Noteholder (or the Servicer
on its behalf) subject to this Agreement and the Servicing Agreement and to be distributed pursuant to the terms of this Agreement.
The Lead Securitization Noteholder (or the Servicer on its behalf) shall have the right to offset any amounts due hereunder from
the Note B Holder with respect to the Mortgage Loan against any future payments due to the Note B Holder under the Mortgage Loan.

 

(e)    Each Noteholder’s obligations under this Section 8 constitute absolute, unconditional and continuing obligations.

 

Section
9.          Limitation on Liability
of the Noteholders. The Senior Noteholders (including any Servicer on its behalf) shall have no liability to the Note B Holder
except with respect to losses actually suffered due to the gross negligence, willful misconduct or breach of this Agreement on
the part of such Senior Noteholder. The Note B Holder shall have no liability to the Senior Noteholders with respect to the Senior
Notes except with respect to losses actually suffered due to the gross negligence, willful misconduct or breach of this Agreement
on the part of the Note B Holder.

 

The
Note B Holder acknowledges that, subject to the terms and conditions hereof and the obligation of the Lead Securitization Noteholder
(including any Servicer) to comply with, and except as otherwise required by, the Servicing Standard, the Lead Securitization

 

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Noteholder (including any Servicer) may exercise, or omit to exercise, any rights that the Lead Securitization Noteholder may
have under this Agreement the Servicing Agreement in a manner that may be adverse to the interests of the Note B Holder and that
the Lead Securitization Noteholder (including any Servicer) shall have no liability whatsoever to the Note B Holder in connection
with the Lead Securitization Noteholder’s exercise of rights or any omission by the Lead Securitization Noteholder to exercise
such rights other than as described above; provided, however, that the Servicer must act in accordance with the
Servicing Standard, and (b) the Lead Securitization Noteholder shall not be protected against any liability to the Note B Holder
that would otherwise be imposed by reason of willful misfeasance, bad faith or gross negligence.

 

The
Senior Noteholders acknowledge that, subject to the terms and conditions hereof, the Note B Holder may exercise, or omit to exercise,
any rights that such Note B Holder may have under this Agreement and the Servicing Agreement in a manner that may be adverse to
the interests of the Senior Noteholders and that the Note B Holder shall have no liability whatsoever to the Senior Noteholders
in connection with such Note B Holder’s exercise of rights or any omission by such Note B Holder to exercise such rights;
provided, however, that the Note B Holder shall not be protected against any liability to the Senior Noteholders that would otherwise
be imposed by reason of willful misfeasance, bad faith or negligence.

 

Section
10.          Bankruptcy. Subject to the provisions of Section
5(f) hereof, each Noteholder hereby covenants and agrees that only the Lead Securitization Noteholder (or the Servicer on
its behalf) 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. Subject to the provisions of Section 5(f) hereof,
each Noteholder further agrees that only the Lead Securitization Noteholder, as a creditor, 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 Noteholders hereby appoints the
Lead Securitization Noteholder as its agent, and grants to the Lead Securitization Noteholder 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 each of the Note A-2, the Note A-3, the Note A-4, the Note A-5 and the Note B 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 Junior Noteholder, hereby agrees that, upon the request of the Senior Noteholder but subject to the provisions
of Section 5(f), such Noteholder shall execute, acknowledge and deliver to the Senior Noteholder all and every such further
deeds, conveyances and instruments as the Senior Noteholder 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.

 

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Section
11.          Cure Rights of Controlling Noteholder.

 

(a)   
Subject to Section 11(b) below, in the event that the Mortgage Loan Borrower fails to make any monetary payment on the
Mortgage Loan by the end of any grace period (the “Grace Period”), if applicable, for such payment permitted
under the applicable Mortgage Loan Documents (a “Monetary Default”), the Lead Securitization Noteholder shall
promptly provide written notice to the Controlling Noteholder and the Junior Operating Advisor of such default (the “Monetary
Default Notice”). The Controlling Noteholder shall have the right, but not the obligation, to cure such Monetary Default
within five (5) Business Days after receiving the Monetary Default Notice (the “Cure Period”) and at no other
times. The Monetary Default Notice shall contain a statement in boldface font that the Controlling Noteholder’s or the Junior
Operating Advisor’s failure to cure such Monetary Default within five (5) Business Days after receiving such notice will
result in the termination of the right to cure such Monetary Default. At the time a payment is made to cure a Monetary Default,
the Controlling Noteholder shall pay or reimburse the Lead Securitization Noteholder for all unreimbursed Advances (whether or
not recoverable with respect to Note A-1, Note A-2, Note A-3, Note A-4 and Note A-5), Advance Interest Amounts, any unpaid fees
to any Servicer specifically provided for in the Securitization Servicing Agreement and any Additional Servicing Expenses. The
Controlling Noteholder (or Junior Operating Advisor, as applicable) shall not be required, in order to effect a cure hereunder,
to pay any default interest or late charges under the Mortgage Loan Documents. So long as a Monetary Default exists for which
a cure payment permitted hereunder is made, such Monetary Default shall not be treated as an Event of Default by the Lead Securitization
Noteholder (including for purposes of (i) the definition of “Sequential Pay Event,” (ii) 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 Property;
or (iii) treating the Mortgage Loan as a Specially Serviced Mortgage Loan); provided that such limitation shall not prevent
the Lead Securitization Noteholder from collecting Default Interest or late charges from the Mortgage Loan Borrower. Any amounts
advanced by a Noteholder on behalf of the Mortgage Loan Borrower to effect any cure shall be reimbursable to such Noteholder under
Section 3 or Section 4, as applicable.

 

(b)  
Notwithstanding anything to the contrary contained in Section 11(a), the Note B Holder shall be limited to a combined total
of six (6) cures of Monetary Defaults, no more than three (3) of which may be consecutive, or Non-Monetary Defaults over the term
of the Mortgage Loan. Additional Cure Periods shall only be permitted with the consent of the Lead Securitization Noteholder.

 

(c)   
No action taken by the Note B Holder in accordance with this Agreement to cure any Event of Default shall excuse performance by
the Mortgage Loan Borrower of its obligations under the Mortgage Loan Documents and the Senior Noteholders’ rights under
the Mortgage Loan Documents shall not be waived or prejudiced by virtue of the Note B Holder’s actions under this Agreement.
Subject to the terms of this Agreement, the Note B Holder shall be subrogated to the Senior Noteholders’ rights to any payment
owing to the Senior Noteholders for which the Note B Holder makes a cure payment as permitted under this Section 11 but
such subrogation rights may not be exercised against the Mortgage Loan Borrower until ninety-one (91) days after the Note is paid
in full.

 

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(d)  
If an Event of Default (other than a Monetary Default) occurs and is continuing under the Mortgage Loan Documents (a “Non-Monetary
Default”), the Lead Securitization Noteholder shall provide notice of such Non-Monetary Default to the Controlling Noteholder
and the Junior Operating Advisor of such Non-Monetary Default (the “Non-Monetary Default Notice”) and the Controlling
Noteholder shall have the right, but not the obligation, to cure such Non-Monetary Default within the same period of time as the
Mortgage Loan Borrower under the Mortgage Loan Documents, without regard for the date of receipt by the Controlling Noteholder
of the Non-Monetary Default Notice, or in any event, at least thirty (30) days from the date of such Non-Monetary Default, to
cure such Non-Monetary Default; provided, however, if such Non-Monetary Default is susceptible of cure but cannot
reasonably be cured within such period and if curative action was promptly commenced and is being diligently pursued by the Controlling
Noteholder, the Controlling Noteholder shall be given an additional period of time as is reasonably necessary to enable the Controlling
Noteholder in the exercise of due diligence to cure such Non-Monetary Default for so long as (i) the Controlling Noteholder diligently
and expeditiously proceeds to cure such Non-Monetary Default, (ii) the Controlling Noteholder makes all cure payments that it
is permitted to make in accordance with the terms and provisions of Section 11(a) hereof, (iii) such additional period
of time does not exceed sixty (60) days, (iv) such Non-Monetary Default is not caused by an Insolvency Proceeding or during such
period of time that the Controlling Noteholder has to cure a Non-Monetary Default in accordance with this Section 11(d)
(the “Non-Monetary Default Cure Period”), an Insolvency Proceeding does not occur and (v) during such Non-Monetary
Default Cure Period, there is no material adverse effect on the Mortgage Loan Borrower or the Mortgaged Property or the value
of the Mortgage Loan as a result of such Non-Monetary Default or the attempted cure. The Non-Monetary Default Notice shall contain
a statement in boldface font that the Controlling Noteholder’s or the Junior Operating Advisor’s failure to cure such
Non-Monetary Default within the applicable Non-Monetary Default Cure Period after receiving such notice will result in the termination
of the right to cure such Non-Monetary Default. The Controlling Noteholder shall not contact the Mortgage Loan Borrower in order
to effect any cures under Sections 11(a) or this 11(d) without the prior written consent of the Lead Securitization
Noteholder.

 

Section
12.          Purchase of Senior Notes By Note B Holder. The Note B Holder
shall have the right, by written notice to the Senior Noteholders (a “Noteholder Purchase Notice”), delivered
within thirty (30) days of receipt of notice that an Event of Default under the Mortgage Loan has occurred and is continuing,
to purchase, in immediately available funds, the Senior Notes in whole but not in part at the applicable Defaulted Mortgage Loan
Purchase Price. Upon the delivery of the Noteholder Purchase Notice to the Senior Noteholders, the Senior Noteholders shall sell
(and the Note B Holder shall purchase) the Senior Notes (including, without limitation, any Notes therein) at the applicable Defaulted
Mortgage Loan Purchase Price, on a date (the “Defaulted Note Purchase Date”) not more than forty-five (45)
days after the date of the Noteholder Purchase Notice, as shall be established by the Note A-1 Holder. The Noteholder Purchase
Notice shall contain a statement in boldface font that the Note B Holder’s failure to purchase the Senior Notes on a Defaulted
Note Purchase Date will result in the termination of such right. The Note B Holder agrees that the sale of the Senior Notes shall
comply with all requirements of the Servicing Agreement and that all costs and expenses related thereto shall be paid by the Note
B Holder. The Defaulted Mortgage Loan Purchase Price shall be calculated by the Lead Securitization Noteholder (or the Servicer
on its behalf) five (5)

 

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Business Days prior to the Defaulted Note Purchase Date (and such calculation shall be accompanied by
a listing of all amounts included in the Defaulted Mortgage Loan Purchase Price), and shall, absent manifest error, be binding
upon the Note B Holder. Concurrently with the payment to the Note A-1 Holder, Note A-2 Holder, Note A-3 Holder, Note A-4 Holder
and Note A-5 Holder in immediately available funds of its respective portion of the applicable Defaulted Mortgage Loan Purchase
Price, the Note A-1 Holder, Note A-2 Holder, Note A-3 Holder, Note A-4 Holder and Note A-5 Holder will execute at the sole cost
and expense of the Note B Holder in favor of the Note B Holder assignment documentation which will assign Note A-1, Note A-2,
Note A-3, Note A-4 and Note A-5, as applicable, and the Mortgage Loan Documents without recourse, representations or warranties
(except the Note A-1 Holder, Note A-2 Holder, Note A-3 Holder, Note A-4 Holder and Note A-5 Holder will represent and warrant
that it had good and marketable title to, was the sole owner and holder of, and had power and authority to deliver the Mortgage
Loan or Note, as applicable, free and clear of all liens and encumbrances (other than the interest created by Note B)). The right
of the Note B Holder to purchase Note A-1, Note A-2, Note A-3, Note A-4 and Note A-5 shall automatically terminate upon a foreclosure
sale, sale by power of sale or delivery of a deed in lieu of foreclosure with respect to the Mortgaged Property (and the Lead
Securitization Noteholder shall give the Note B Holder ten (10) days’ prior written notice of its intent with respect to
such action). Notwithstanding the foregoing sentence, if title to the Mortgaged Property is transferred to the Lead Securitization
Noteholder (or a designee on its behalf), in a manner commonly known as “the borrower turning over the keys” and not
otherwise in connection with a consummation by the Lead Securitization Noteholder of a foreclosure sale or sale by power of sale
less than ten (10) days after the acceleration of the Mortgage Loan, the Lead Securitization Noteholder shall notify the
Note B Holder of such transfer and the Note B Holder shall have a fifteen (15) day period from the date of such notice from
the Lead Securitization Noteholder to deliver the Noteholder Purchase Notice to the Note A-1 Holder, Note A-2 Holder, Note A-3
Holder, Note A-4 Holder and Note A-5 Holder, in which case the Note B Holder will be obligated to purchase the Mortgaged Property,
in immediately available funds, within such fifteen (15) day period at the applicable Defaulted Mortgage Loan Purchase Price.

 

Section
13.          Representations of Note B Holder. The Note B Holder represents,
and it is specifically understood and agreed, that it is acquiring its Note B for its own account in the ordinary course of its
business and the Note A-1 Holder, Note A-2 Holder, Note A-3 Holder, Note A-4 Holder and Note A-5 Holder shall otherwise have no
liability or responsibility to the Note B Holder except as expressly provided herein or for actions that are taken or omitted
to be taken by the Note A-1 Holder, Note A-2 Holder, Note A-3 Holder, Note A-4 Holder and Note A-5 Holder that constitute gross
negligence or willful misconduct or that constitute a breach of this Agreement. The Note B 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 its charter or any law or contractual restriction binding upon the Note B Holder, and
that this Agreement is the legal, valid and binding obligation of the Note B Holder enforceable against the Note B 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. The

 

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Note B Holder represents and warrants
that it is duly organized, validly existing, in good standing and possesses of all licenses and authorizations necessary to carry
on its business. The Note B Holder represents and warrants that (a) this Agreement has been duly executed and delivered by the
Note B Holder, (b) to the Note B 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 the
Note B Holder have been obtained or made and (c) to the Note B Holder's actual knowledge, there is no pending action, suit or
proceeding, arbitration or governmental investigation against the Note B Holder, an adverse outcome of which would materially
and adversely affect its performance under this Agreement.

 

The
Note B Holder acknowledges that the Note A-1 Holder, Note A-2 Holder, Note A-3 Holder, Note A-4 Holder and Note A-5 Holder do
not owe the Note B Holder any fiduciary duty with respect to any action taken under the Mortgage Loan Documents and, except as
provided herein, need not consult with the Note B Holder with respect to any action taken by the Note A-1 Holder, Note A-2 Holder,
Note A-3 Holder, Note A-4 Holder and Note A-5 Holder in connection with the Mortgage Loan.

 

The
Note B Holder expressly and irrevocably waives for itself and any Person claiming through or under the Note B 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 which purports to give a junior loan Noteholder the right to initiate any loan enforcement or foreclosure proceedings.

 

Section
14.          Representations of the Note A-1 Holder, Note A-2 Holder,
Note A-3 Holder, Note A-4 Holder and Note A-5 Holder. Each of the Note A-1 Holder, Note A-2 Holder, Note A-3 Holder, Note
A-4 Holder and Note A-5 Holder represents and warrants that the execution, delivery and performance of this Agreement is within
its respective corporate powers, has been duly authorized by all necessary corporate action, and does not contravene the Note
A-1 Holder’s, Note A-2 Holder’s, Note A-3 Holder’s, Note A-4 Holder’s or Note A-5 Holder’s charter
or any law or contractual restriction binding upon the Note A-1 Holder, Note A-2 Holder, Note A-3 Holder, Note A-4 Holder and
Note A-5 Holder, and that this Agreement is the legal, valid and binding obligation of the Note A-1 Holder, Note A-2 Holder, Note
A-3 Holder, Note A-4 Holder and Note A-5 Holder enforceable against it in accordance with its terms. Each of the Note A-1 Holder,
Note A-2 Holder, Note A-3 Holder, Note A-4 Holder and Note A-5 Holder represents and warrants that it is duly organized, validly
existing, in good standing and possession of all licenses and authorizations necessary to carry on its respective business. Each
of the Note A-1 Holder, Note A-2 Holder, Note A-3 Holder, Note A-4 Holder and Note A-5 Holder represents and warrants that (a)
this Agreement has been duly executed and delivered by each of the Note A-1 Holder, Note A-2 Holder, Note A-3 Holder, Note A-4
Holder and Note A-5 Holder, (b) to each of the Note A-1 Holder’s, Note A-2 Holder’s, Note A-3 Holder’s, Note
A-4 Holder’s or Note A-5 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 the Note A-1 Holder have been obtained or made and (c) to each of the Note A-1 Holder’s, Note A-2 Holder’s, Note
A-3 Holder’s, Note A-4 Holder’s or Note A-5 Holder’s actual knowledge, there is no pending action, suit or proceeding,
arbitration or governmental investigation against the Note A-2 Holder, the Note A-3 Holder, the

 

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Note A-4 Holder or the Note A-5
Holder, an adverse outcome of which would materially and adversely affect its performance under this Agreement.

 

Section
15.          Independent Analysis of the Noteholders. The Note B Holder
acknowledges that it has, independently and without reliance upon the Note A-1 Holder, Note A-2 Holder, Note A-3 Holder, Note
A-4 Holder or Note A-5 Holder, except with respect to the representations and warranties provided by the Note A-1 Holder, Note
A-2 Holder, Note A-3 Holder, Note A-4 Holder and Note A-5 Holder herein, and based on such documents and information as it has
deemed appropriate, made its own credit analysis and decision to purchase the Note B and the Note B Holder accepts responsibility
therefor. The Note B Holder hereby acknowledges that, other than the representations and warranties provided herein, the Note
A-1 Holder, Note A-2 Holder, Note A-3 Holder, Note A-4 Holder and Note A-5 Holder have made no representations or warranties with
respect to the Mortgage Loan, subject to such representations and warranties as provided by the Note A-1 Holder, Note A-2 Holder,
Note A-3 Holder, Note A-4 Holder and Note A-5 Holder herein, and that the Note A-1 Holder 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 the Note A-1 Holder, Note A-2 Holder,
Note A-3 Holder, Note A-4 Holder and Note A-5 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 Borrower. Each Noteholder assumes all risk of loss in connection with its Note except as specifically set
forth herein.

 

Section
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 relationship created
hereby among any of the Noteholders as a partnership, association, joint venture or other entity. The Note A-1 Holder, Note A-2
Holder, Note A-3 Holder, Note A-4 Holder and Note A-5 Holder shall have no obligation whatsoever to offer to the Note B Holder
the opportunity to purchase a Note interest in any future loans originated by the Note A-1 Holder, the Note A-2 Holder, the Note
A-3 Holder, the Note A-4 Holder or the Note A-5 Holder or their Affiliates and if the Note A-1 Holder, the Note A-2 Holder, the
Note A-3 Holder, the Note A-4 Holder or the Note A-5 Holder chooses to offer to the Note B Holder the opportunity to purchase
a Note interest in any future mortgage loans originated by the Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder, the
Note A-4 Holder or the Note A-5 Holder or their Affiliates, such offer shall be at such purchase price and interest rate as the
Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder or the Note A-5 Holder chooses, in its sole and
absolute discretion. The Note B Holder shall not have any obligation whatsoever to purchase from the Note A-1 Holder, the Note
A-2 Holder, the Note A-3 Holder, the Note A-4 Holder or the Note A-5 Holder an interest in any future loans originated by the
Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder or the Note A-5 Holder or their Affiliates.

 

Section
17.          Not a Security. No Note shall be deemed to be a security
within the meaning of the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended.

 

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Section
18.          Other Business Activities of the Noteholders. Each
Noteholder acknowledges that each other Noteholder 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 direct or indirect parent or Affiliate thereof, any entity
that is a holder of debt secured by direct or indirect ownership interests in the Mortgage Loan Borrower or any Affiliate
thereof or any entity that is a holder of a preferred equity interest in the Mortgage Loan Borrower or any Affiliate thereof
(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.

 

Section
19.          Sale of the Notes.

 

(a)   
The Note B Holder agrees that it will not Transfer all or any portion of the Note B except that the Note B Holder shall have the
right to Transfer its respective Note, or any portion thereof, (i) to a Qualified Institutional Lender, provided, that promptly
after the Transfer the Note A-1 Holder, Note A-2 Holder, Note A-3 Holder, Note A-4 Holder and Note A-5 Holder is provided with
(x) a representation from the transferee or such Note B Holder certifying that such transferee is a Qualified Institutional Lender,
(y) a copy of the assignment and assumption agreement referred to in Section 20 and (z) such transfer would not cause the
Note B to be held by more than five persons nor cause there to be no one person owning a majority of the Note B and (ii) to an
entity that is not a Qualified Institutional Lender; provided that with respect to the foregoing subclause (ii), the Note B Holder
obtains (1) prior to a Securitization, the consent of the Senior Noteholder and (2) after a Securitization, Rating Agency Confirmation;
provided that in each of case (1) and (2), (x) promptly after the Transfer, the Senior Noteholder is provided with a copy of the
assignment and assumption agreement referred to in Section 20 and (y) such transfer would not cause Note B to be held by
more than five persons nor cause there to be no one person owning a majority of Note B. If Note B is held by more than one Note
B Holder at any time, the holders of a majority of the Note B Principal Balance shall immediately appoint a representative to
exercise all rights of the Note B hereunder. Notwithstanding the foregoing, without the Note A-1 Holder’s, Note A-2 Holder’s,
Note A-3 Holder’s, Note A-4 Holder’s and Note A-5 Holder’s prior consent, which may be withheld in the Note
A-1 Holder’s, Note A-2 Holder’s, Note A-3 Holder’s, Note A-4 Holder’s and Note A-5 Holder’s sole
discretion, the Note B Holder shall not Transfer all or any portion of Note B 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.
Notwithstanding anything herein to the contrary, the Note B Holder has the right to transfer Note B to any trust account established
and controlled by a Prima Holder in connection with any reinsurance transaction entered into between such Prima Holder and the
beneficiary of such trust account) and to the extent required, such trust account and the beneficiary thereof shall be deemed
to be a Qualified Institutional Lender for Transfer purposes. The Note B Holder agrees it will pay the out-of-pocket expenses
of the Lead Securitization Noteholder (including all out-of-pocket expenses of the Master Servicer and the Special Servicer) in
connection with any such Transfer.

 

(b)  
Notwithstanding the foregoing, the Note B Holder shall have the right, without the need to obtain the consent of the Note A-1
Holder, Note A-2 Holder, Note A-3 Holder, Note A-4 Holder or Note A-5 Holder or any other Person, to Transfer 49% or less (in
the

 

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aggregate) of its interest in the Note B to a Person; provided that any such Transfer shall be made in accordance with
the terms of this Section 19; provided, further that the Note B Holder shall not Transfer all or any
portion of Note B to the Mortgage Loan Borrower or a Mortgage Loan Borrower Related Party without the consent of the Note A-1
Holder, Note A-2 Holder, Note A-3 Holder, Note A-4 Holder and Note A-5 Holder and any such Transfer shall be void ab initio, absolutely
null and void and shall vest no rights in the purported transferee. All Transfers under Section 19(a) and (b) shall
be made upon written notice to the Note A-1 Holder, Note A-2 Holder, Note A-3 Holder, Note A-4 Holder and Note A-5 Holder not
later than the date of such Transfer, and each transferee shall (i) other than as described in Section 19(c), execute
an assignment and assumption agreement whereby such transferee assumes all or a ratable portion, as the case may be, of the obligations
of the Note B Holder hereunder with respect to the Note B from and after the date of such assignment (or, in the case, of a pledge,
collateral assignment or other encumbrance made in accordance with Section 19(e) by the Note B Holder of the Note B solely
as security for a loan to the Note B Holder made by a third-party lender whereby the Note B Holder remains fully liable under
this Agreement, on or before the date on which such third-party lender succeeds to the rights of the Note B Holder by foreclosure
or otherwise, such third-party lender executes an agreement that such lender shall be bound by the terms and provisions of this
Agreement and the obligations of the Note B Holder hereunder) and (ii) agree in writing to be bound by the Servicing Agreement,
unless the Servicing Agreement is not then in effect with respect to the Mortgage Loan, in which event the parties will enter
into or agree to be bound by any replacement servicing agreement therefor in accordance with the provisions hereof. Upon the consummation
of a Transfer of all or any portion of the Note B or interest therein in accordance with this Agreement, the transferring Person
shall be released from all liability arising under this Agreement with respect to the Note B (or the portion thereof or interest
therein that was the subject of such Transfer), for the period accruing after the effective date of such Transfer (it being understood
and agreed that the foregoing release shall not apply in the case of a sale, assignment, transfer or other disposition of a participation
interest in the Note B as described in clause (c) below). In connection with any such permitted transfer of a portion of
the Note B and for all purposes of this Agreement, the Note A-1 Holder, Note A-2 Holder, Note A-3 Holder, Note A-4 Holder and
Note A-5 Holder need only recognize the majority holder of the Note B for purposes of notices, consents and other communications
between the Note A-1 Holder, Note A-2 Holder, Note A-3 Holder, Note A-4 Holder and Note A-5 Holder and such majority holder of
the Note B shall be the only Person authorized hereunder to exercise any rights of the Note B Holder under this Agreement; provided,
however, the majority holder of the Note B may from time to time designate any other Person as an additional party entitled
to receive notices, consents and other communications and/or to exercise rights on behalf of the Note B Holder hereunder by delivering
written notice thereof to the Note A-1 Holder, Note A-2 Holder, Note A-3 Holder, Note A-4 Holder and Note A-5 Holder and, from
and after delivery of such notice, such designee shall be so authorized hereunder and shall be the only party entitled to receive
such notices, consents and such other communications and/or to exercise such rights.

 

(c)   
In the case of any sale, assignment, transfer or other disposition of a participation interest in a Note, (i) such Noteholder’s
obligations under this Agreement shall remain unchanged, (ii) such Noteholder shall remain solely responsible for the performance
of such obligations, (iii) the other Noteholder and any Persons acting on its behalf shall continue to deal solely and directly
with such Noteholder in connection with such Noteholder’s rights and obligations under this Agreement and the Servicing
Agreement, and (iv) all amounts payable

 

    49 

     

    

 

hereunder shall be determined as if such Noteholder had not sold or effectuated a Transfer
of such participation interest; provided, however, that if the applicable participant is a Qualified Institutional
Lender (and delivers to the other Noteholder a certification from an authorized officer confirming its status as a Qualified Institutional
Lender), such Noteholder, by written notice to the other Noteholder, may delegate to such participant such Noteholder’s
right to exercise the rights of the Controlling Noteholder hereunder and under the Servicing Agreement; provided, further,
however, that upon the occurrence of a Control Appraisal Period with respect to the Note B, the aforesaid delegation of
rights shall terminate and be of no further force and effect.

 

(d)  
Each Holder may Transfer up to 49% (in the aggregate) of its beneficial interest in its Note whether or not the related transferee
is a Qualified Institutional Lender without a Rating Agency Confirmation. Each Senior Noteholder shall not Transfer more than
49% (in the aggregate) of its beneficial interest in its Note unless (i) prior to a Securitization of any Senior Note, the
other Holders have consented to such Transfer, in which case the related transferee shall thereafter be deemed to be a “Qualified
Institutional Lender” for all purposes under this Agreement, (ii) after a Securitization of any Senior Note, a
Rating Agency Confirmation has been received with respect to such Transfer, in which case the related transferee shall thereafter
be deemed to be a “Qualified Institutional Lender” for all purposes under this Agreement, (iii) such Transfer
is to a Qualified Institutional Lender or (iv) such Transfer of a Senior Note is in connection with a sale by a securitization
trust; provided that if such Transfer is a Transfer of the Lead Securitization Note, such Transfer is to a Qualified Institutional
Lender.  Any such transferee (except in the case of Transfers that are made in connection with a Securitization) hereby assumes
the obligations of the transferring Holder hereunder and agrees to be bound by the terms and provisions of this Agreement and
the Servicing Agreement and (ii) remakes each of the representations and warranties contained herein for the benefit of the other
Holders.  Notwithstanding the foregoing, without each non-transferring Holder’s prior consent (which will not be unreasonably
withheld), and, if such non-transferring Holder’s Note is in a Securitization, without a Rating Agency Confirmation from
each Rating Agency that has been engaged by the Depositor to rate the securities issued in connection with such Securitization,
no Holder shall Transfer all or any portion of its Note to a Borrower or a Borrower Party Affiliate and any such Transfer shall
be absolutely null and void and shall vest no rights in the purported transferee.  None of the provisions of this Section
12(a) shall apply in the case of a sale of Note A-1 together with Note A-2, Note A-3, Note A-4 and Note A-5 in accordance
with the terms and conditions of the Lead Securitization PSA.  

 

(e)   
Notwithstanding any other provision hereof, any Noteholder may pledge (a “Pledge”) its Note to any entity (other
than the Mortgage Loan Borrower or any Affiliate thereof) which has extended a credit or repurchase facility to such Noteholder
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 19(e), it being further agreed that a financing provided by a Note Pledgee to a Noteholder
or any Person which Controls such Noteholder that is secured by such Noteholder’s interest in the applicable 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) prior to Securitization, the
consent of each other Noteholder and (b) after Securitization, Rating Agency Confirmation.

 

    50 

     

    

 

Upon written notice by the applicable
Noteholder to the other Noteholders and any Servicer that a Pledge has been effected (including the name and address of the applicable
Note Pledgee), each of the other Noteholders agrees to acknowledge receipt of such notice and thereafter agrees: (i) to give
Note Pledgee written notice of any default by the pledging Noteholder in respect of its obligations under this Agreement of which
default such Noteholder has actual knowledge; (ii) to allow such Note Pledgee a period of ten (10) days to cure a default
by the pledging Noteholder in respect of its obligations to the other Noteholder 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 Noteholder shall give to such Note Pledgee copies of any notice of
default under this Agreement simultaneously with the giving of same to the pledging Noteholder and accept any cure thereof by
such Note Pledgee which such pledging Noteholder has the right (but not the obligation) to effect hereunder, as if such cure were
made by such pledging Noteholder; (v) that such other Noteholder 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 Noteholder; and (vi) that, upon written notice (a “Redirection Notice”) to the other Noteholders
and any Servicer by such Note Pledgee that the pledging Noteholder is in default, beyond any applicable cure periods, under the
pledging Noteholder’s obligations to such Note Pledgee pursuant to the applicable credit agreement between the pledging
Noteholder and such Note Pledgee (which notice need not be joined in or confirmed by the pledging Noteholder), and until such
Redirection Notice is withdrawn or rescinded by such Note Pledgee, Note Pledgee shall be entitled to receive any payments that
any Noteholder or Servicer would otherwise be obligated to pay to the pledging Noteholder from time to time pursuant to this Agreement
or any Servicing Agreement. Any pledging Noteholder hereby unconditionally and absolutely releases the other Noteholders and any
Servicer from any liability to the pledging Noteholder on account of any Noteholder’s or Servicer’s compliance with
any Redirection Notice believed by any Servicer or any such other Noteholder to have been delivered by a Note Pledgee. Note Pledgee
shall be permitted to exercise fully its rights and remedies against the pledging Noteholder 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 Noteholders 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 Noteholder’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 Noteholder 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 19(e) shall remain effective as to any Noteholder (and any Servicer) unless and until such Note Pledgee
shall have notified any such Noteholder (and any Servicer, as applicable) in writing that its interest in the pledged Note has
terminated.

 

(f)   
Notwithstanding any provisions herein to the contrary, if a conduit (“Conduit”) which is not a Qualified Institutional
Lender provides financing to a Noteholder then such Noteholder shall have the right to grant a security interest in its Note to
such Conduit

 

    51 

     

    

 

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 Noteholder to finance the acquisition and
holding of its Note will require a third party (the “Conduit Credit Enhancer”) to provide credit enhancement;

 

(ii)          The Conduit Credit Enhancer and conduit manager (if Moody’s rates the Securitization) will be a Qualified Institutional
Lender;

 

(iii)          Such Noteholder will pledge (or sell, transfer or assign as part of a repurchase facility) its interest in the applicable Note
to the Conduit as collateral for the Conduit Inventory Loan;

 

(iv)          The Conduit Credit Enhancer and the Conduit will agree that, if such Noteholder 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 Noteholder, the Conduit
Credit Enhancer will purchase the Conduit Inventory Loan from the Conduit, and the Conduit will assign the pledge of such Noteholder’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 the consent of each
other Noteholder, have any greater right to acquire the interests in the Note pledged by such Noteholder, 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
20.          Registration of Transfer. In connection with any
Transfer of a Note (but excluding any Pledgee unless and until it realizes on its Pledge and any Transfer of a participation interest
described in Section 19(c)), a transferee shall (unless this Agreement is amended and restated and the transferee executes
an amended and restated agreement) execute an assignment and assumption agreement whereby such transferee assumes all of the obligations
of the applicable Noteholder hereunder with respect to such Note thereafter accruing and agrees to be bound by the terms of this
Agreement, including the restriction on Transfers set forth in Section 19, from and after the date of such assignment.
Notwithstanding the preceding sentence, a Trustee shall not be required to execute an assignment and assumption agreement in connection
with any Transfer of a Note if the obligations are assumed pursuant to the Securitization Servicing Agreement. 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 19 and this Section 20. Any such purported transfer
shall be absolutely null and void and shall vest no rights in the purported transferee. Each Noteholder desiring to effect such
transfer shall, and does hereby agree to, indemnify the Agent and any other Noteholder against any liability that may result if
the transfer is not made in accordance with the provisions of this Agreement. Upon a Securitization of the Lead Securitization
Note, the Certificate Administrator shall automatically become and be the Agent.

 

    52 

     

    

 

Section
21.          Registration of the Notes. The Agent shall keep or
cause to be kept at the Agent Office books (the “Note Register”) for the registration and transfer of the Notes.
The Agent shall serve as the initial Note registrar and the Agent hereby accepts such appointment. The names and addresses of
the holders of the Notes and the names and addresses of any transferee of any Note of which the Agent has received notice, in
the form of a copy of the assignment and assumption agreement referred to in Section 20, 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, except in the case of the Noteholders who may hold their Notes through a nominee. Upon request
of a Noteholder, the Agent shall provide such party with the names and addresses of the Noteholders. To the extent another party
is appointed as Agent hereunder, the Noteholders hereby designate such person as its agent under this Section 21 solely
for purposes of maintaining the Note Register.

 

Section
22.          Statement of Intent. The Agent and each Noteholder intend
that the Notes be classified and maintained as a grantor trust under subpart E, part I of subchapter J of chapter 1 of the Code
that is a fixed investment trust within the meaning of Treasury Regulation §301.7701-4(c), and the parties will not take
any action inconsistent with such classification. It is neither the purpose nor the intent of this Agreement to create a partnership,
joint venture, “taxable mortgage pool” or association taxable as a corporation between the parties.

 

Section
23.          No Pledge. This Agreement shall not be deemed to represent
a pledge of any interest in any Mortgage Loan by the Noteholders. Except as otherwise provided in this Agreement and the Servicing
Agreement, the Note B Holder shall not have any interest in any property taken as security for any Mortgage Loan, provided,
however, that if any such property or the proceeds of any sale, lease or other disposition thereof shall be received, 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.

 

Section
24.          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 DUTIES OF THE PARTIES TO THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED
IN ACCORDANCE WITH THE INTERNAL LAWS AND DECISIONS OF THE STATE OF NEW YORK, WITHOUT REGARD TO THE CHOICE OF LAW RULES THEREOF.
EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING
OUT OF OR RELATING TO THIS AGREEMENT.

 

Section
25.          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

 

    53 

     

    

 

SOUTHERN DISTRICT OF NEW YORK, AND APPELLATE COURTS FROM ANY THEREOF;

 

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

 

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

 

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

 

Section
26.          Modifications; Amendment. This Agreement shall not
be modified, cancelled or terminated except by an instrument in writing signed by each Noteholder. Additionally, for as long as
any Note is contained in a Securitization Trust, the Noteholders shall not amend or modify this Agreement without first receiving
a Rating Agency Confirmation; provided that no such confirmation from the Rating Agencies shall be required in connection
with a modification or amendment (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 Securitization Servicing Agreement, (ii) entered into pursuant to
Section 38 of this Agreement or (iii) to correct or supplement any provision herein that may be defective or inconsistent
with any other provisions of this Agreement.

 

Section
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 permitted assigns.
Except as provided herein, 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 19, each Noteholder 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 Noteholder hereunder, including,
without limitation, the right to make further assignments and grant additional Notes.

 

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

 

    54 

     

    

 

Section
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.

 

Section
30.          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
31.          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
32.          Withholding Taxes.

 

(a)   
If the Note A-1 Holder, Note A-2 Holder, Note A-3 Holder, Note A-4 Holder, Note A-5 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 Note B Holder with respect
to the Mortgage Loan as a result of the Note B Holder constituting a Non-Exempt Person, the Note A-1 Holder, in its capacity as
servicer, shall be entitled to do so with respect to the Note B Holder’s interest in such payment (all withheld amounts
being deemed paid to the Note B Holder), provided that the Lead Securitization Noteholder shall furnish such Note B 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 B Holder to seek any allowable credits or deductions for the Taxes so withheld in
each jurisdiction in which the Note B Holder is subject to tax.

 

(b)  
The Note B Holder shall and hereby agrees to indemnify the Lead Securitization Noteholder against and hold the Lead Securitization
Noteholder harmless from and against any Taxes, interest, penalties and attorneys’ fees and disbursements arising or resulting
from any failure of the Lead Securitization Noteholder (or the Servicer on its behalf) to withhold Taxes from payment made to
such Note B Holder in reliance upon any representation, certificate, statement, document or instrument made or provided by such
Note B Holder to the Lead Securitization Noteholder in connection with the obligation of the Lead Securitization Noteholder to
withhold Taxes from payments made to the Note B Holder, it being expressly understood and agreed that (i) the Lead Securitization
Noteholder 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
Note B Holder shall, upon request of the Lead Securitization Noteholder and at its sole cost and expense, defend any claim or
action relating to the foregoing indemnification using counsel selected by the Lead Securitization Noteholder.

 

    55 

     

    

 

(c)   
The Note B Holder represents to the Note A-1 Holder, Note A-2 Holder, Note A-3 Holder, Note A-4 Holder and Note A-5 Holder (for
the benefit of the Mortgage Loan Borrower) that it is not a Non-Exempt Person and that neither the Lead Securitization Noteholder
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, such Note B Holder shall deliver to the Lead Securitization Noteholder or Servicer,
as applicable, evidence satisfactory to the Lead Securitization Noteholder substantiating that such Note B Holder is not a Non-Exempt
Person and that the Lead Securitization Noteholder 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 the
Note B 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 Noteholder an Internal Revenue Service
Form W-9 and (ii) if the Note B 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, the Note B Holder shall satisfy the requirements
of the preceding sentence by furnishing to the Lead Securitization Noteholder 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 the
Note B Holder, as evidence of the Note B Holder’s exemption from the withholding of United States tax with respect thereto.
The Lead Securitization Noteholder shall not be obligated to make any payment hereunder to any Note B Holder in respect of its
Note B or otherwise until such Note B Holder shall have furnished to the Lead Securitization Noteholder requested forms, certificates,
statements or documents.

 

Section
33.          Custody of Mortgage Loan Documents. Prior to the Securitization
Date, the originals of all of the Mortgage Loan Documents (including Note B until such time that Note B is transferred to a party
unaffiliated with the Initial Agent) will be held by the Initial Agent (or an agent of the Initial Agent) on behalf of the registered
holders of the Notes. After the Securitization, the originals of all of the Mortgage Loan Documents (other than Note B) will be
transferred to the Lead Securitization Noteholder (or a custodian acting on behalf of the Lead Securitization Noteholder).

 

Section
34.          Notices. All notices required hereunder shall be given by
(i) telephone (confirmed promptly in writing) or shall be in writing and personally delivered, (ii) sent by facsimile transmission
(during business hours) if a party has provided a facsimile number, (iii) reputable overnight delivery service (charges prepaid),
(iv) sent by electronic mail containing language requesting the recipient to confirm receipt thereof if a party has provided an
electronic mail address 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. All
notices and reports (including, without limitation, Asset Status Reports) required to be delivered hereunder by the Senior Noteholder
(or the Servicer on its behalf) to the Controlling Noteholder (or its Junior Operating Advisor), or by the Controlling Noteholder
(or its Junior Operating

 

    56 

     

    

 

Advisor) to the Senior Noteholder (or the Servicer on its behalf), shall also
be delivered by the applicable party to the Junior Noteholder.

 

Section
35.          Broker. Each Noteholder represents to each other
Noteholder that no broker was responsible for bringing about this transaction.

 

Section
36.          Certain Matters Affecting the Agent.

 

(a)   
The Noteholders hereby appoint the Agent to act on their behalf, and the Agent shall act on behalf of the Noteholders;

 

(b)  
The Agent may request and/or rely upon and shall be protected in acting or refraining from acting upon any assignment and assumption
agreement delivered to the Agent pursuant to Section 20;

 

(c)   
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;

 

(d)  
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 of the Noteholders pursuant to the provisions of this Agreement, unless it has received indemnity reasonably
satisfactory to it;

 

(e)   
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;

 

(f)   
The Agent shall not be bound to make any investigation into the facts or matters stated in any assignment and assumption agreement
delivered to the Agent pursuant to Section 20; and

 

(g)  
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.

 

Section
37.          Termination of Agent. The Agent may be terminated at any
time upon ten (10) days prior written notice from the Lead Securitization Noteholder. In the event that the Agent is terminated
pursuant to this Section 37, all of its rights and obligations under this Agreement shall be terminated, other than any
rights or obligations that accrued prior to the date of such termination.

 

The
Agent may resign at any time upon notice, so long as a successor Agent, reasonably satisfactory to the Noteholders, has agreed
to be bound by this Agreement and perform the duties of the Agent hereunder. Rialto Mortgage Finance, LLC, as Initial Agent, may
transfer its rights and obligations to the Servicer, as successor Agent, at any time without the consent of any Noteholder. Rialto
Mortgage Finance, LLC, as Initial Agent, shall promptly and

 

    57 

     

    

 

diligently attempt to cause such Servicer to act as successor Agent,
and, if such Servicer declines to act in such capacity, shall promptly and diligently attempt to cause a similar servicer to act
as successor Agent. The termination or resignation of such Servicer, as Servicer under the Servicing Agreement, shall be deemed
a termination or resignation of such Servicer as Agent under this Agreement. Notwithstanding the to the contrary in this Agreement,
upon a Securitization of the Lead Securitization Note, the Certificate Administrator shall automatically become and be the Agent.

 

Section
38.          Resizing. Notwithstanding any other provision of
this Agreement, the holder of Note A-1, Note A-2, Note A-3, Note A-4 or Note A-5 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 such Note A-1, Note A-2, Note A-3, Note A-4 or Note
A-5 to such New Notes and the Note B Holder shall (at the applicable Noteholder’s sole cost and expense) cooperate with
Note A-1 Holder, Note A-2 Holder, Note A-3 Holder, Note A-4 Holder and Note A-5 Holder, as applicable, to effect any such resizing;
provided that (i) the aggregate principal balance of all outstanding New Notes following the creation thereof is no greater
than the principal balance of such Note immediately prior to the creation of the New Notes, (ii) the weighted average interest
rate of all outstanding New Notes following the creation thereof is the same as the interest rate of the related Note immediately
prior to the creation of the New Notes, (iii) no such resizing shall (a) change the interest allocable to, or the amount
of any payments due to, the Note B Holder, or priority of such payments, or (b) materially increase the Note B Holder’s
obligations or materially decrease the Note B Holder’s rights, remedies or protections, (iv) all New Notes shall pay on
a Pro Rata and Pari Passu Basis among such New Notes, and all New Notes shall be automatically subject to the terms of this Agreement
and shall be a “Note” hereunder, and (v) the Person holding the New Notes shall notify the Note B Holder in writing
of the allocations and principal amounts of the New Notes. In connection with the resizing of Note A-1, Note A-2, Note A-3, Note
A-4 or Note A-5, the related Noteholder may allocate its rights hereunder among the New Notes in any manner in its sole discretion.

 

Section
39.          Conflict.    To the extent of any inconsistency
between the Servicing Agreement, on one hand, and this Agreement, on the other, this Agreement shall control.

 

[SIGNATURE
PAGE FOLLOWS]

 

    58 

     

    

 

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

 

	 	RIALTO
    MORTGAGE FINANCE, LLC, as Note A-1 Holder and Initial Agent
	 	 
	 	By:	/s/Andrew
    Snow
	 	 	Name:
    Andrew Snow
	 	 	Title:
    Authorized Signatory

  

	 	RIALTO
    MORTGAGE FINANCE, LLC, as Note A-2 Holder and Initial Agent
	 	 
	 	By:	/s/Andrew
    Snow
	 	 	Name:
    Andrew Snow
	 	 	Title:
    Authorized Signatory

  

	 	RIALTO
    MORTGAGE FINANCE, LLC, as Note A-3 Holder and Initial Agent
	 	 
	 	By:	/s/Andrew
    Snow
	 	 	Name:
    Andrew Snow
	 	 	Title:
    Authorized Signatory

 

	 	RIALTO
    MORTGAGE FINANCE, LLC, as Note A-4 Holder and Initial Agent
	 	 
	 	By:	/s/Andrew
    Snow
	 	 	Name:
    Andrew Snow
	 	 	Title:
    Authorized Signatory

 

     

    

    

  

	 	RIALTO
    MORTGAGE FINANCE, LLC, as Note A-5 Holder and Initial Agent
	 	 
	 	By:	/s/Andrew
    Snow
	 	 	Name:
    Andrew Snow
	 	 	Title:
    Authorized Signatory

 

	 	TOWNSEND
    REAL ESTATE FUND, L.P., as Note B Holder
	 	 
	 	By:	Prima
    Capital Advisors LLC, as authorized agent
	 	 	 
	 	 	By:	/s/
    Nivesh Patel 
	 	 	 	Name:
    Nivesh Patel
	 	 	 	Title:
    Managing Director

  

     

    

    

 

EXHIBIT
A

MORTGAGE LOAN SCHEDULE

 

A.       Description
of Mortgage Loan:

 

	Mortgage
    Loan Agreement:	The
    Loan Agreement, dated as of April 9, 2019 (as same may be further amended, restated, supplemented or otherwise modified from
    time to time, subject to the terms therein, the “Mortgage Loan Agreement”) between IRG RC Lessor KB, LLC
    (and together with permitted successors and assigns, the “Mortgage Loan Borrower”) and RMF, as Co-Lender
    and as Agent for one or more Co-Lenders (together with their respective successors and assigns “Lender”).
	Date
    of the Mortgage Loan:	April
    9, 2019
	Date
    of Note A-1:	April
    9, 2019
	Date
    of Note A-2:	April
    9, 2019
	Date
    of Note A-3:	April
    9, 2019
	Date
    of Note A-4:	April
    9, 2019
	Date
    of Note A-5:	April
    9, 2019
	Date
    of Note B:	April
    9, 2019
	Principal
    Amount of Mortgage Loan:	$60,420,000.00
	Location
    of Mortgaged Properties:	Addresses
    specified on Schedule VII to the Mortgage Loan Agreement.
	Maturity
    Date:	Monthly
    Payment Date in May 2029

 

    1 

    

    

 

B.       Description
of Note Interests:

 

	Note
    A-1 Principal Balance:	$30,000,000
	Note
    A-2 Principal Balance:	$16,000,000
	Note
    A-3 Principal Balance:	$2,000,000
	Note
    A-4 Principal Balance:	$1,500,000
	Note
    A-5 Principal Balance:	$1,000,000
	Note
    B Principal Balance:	$9,920,000
	Note
    A-1 Percentage Interest:	49.65%
	Note
    A-2 Percentage Interest:	26.48%
	Note
    A-3 Percentage Interest:	3.31%
	Note
    A-4 Percentage Interest:	2.48%
	Note
    A-5 Percentage Interest:	1.66%
	Note
    B Percentage Interest:	16.42%
	Note
    A-1 Rate:	4.917%
	Note
    A-2 Rate:	4.917%
	Note
    A-3 Rate:	4.917%
	Note
    A-4 Rate:	4.917%
	Note
    A-5 Rate:	4.917%
	Note
    B Rate:	With
    respect to each interest period, the rate set forth on Schedule VI of the Mortgage Loan Agreement relating to each such interest
    period.

 

    2 

    

    

 

EXHIBIT
B

 

Note
A-1 Holder, Note A-2 Holder, Note A-3 Holder, Note A-4 Holder, Note A-5 Holder:

Rialto Mortgage Finance, LLC

600 Madison Avenue, 12th Floor

New York, New York 10022

Attention: Andrew Snow

andrew.snow@rialtocapital.com

 

with
a copy to:

 

Cadwalader,
Wickersham & Taft LLP

One
World Financial Center

New
York, New York 10281

Attention:
Frank Polverino

Facsimile No: (212) 504-6666

frank.polverino@cwt.com

 

Note
B Holder:

 

Townsend
Real Estate Fund, L.P.

c/o Prima Capital Advisors LLC

2 Overhill Road, Suite 215

Scarsdale, New York 10583

Attention: Nilesh Patel

Facsimile No: (914) 725-9385

npatel@primaadvisors.com

 

with
a copy to:

 

Pillsbury
Winthrop Shaw Pittman LLP

31 West 52nd Street

New York, New York 10019

Facsimile No: (212) 858-1500

Attention: Caroline Harcourt, Esq.

caroline.harcourt@pillsburylaw.com

   

    B-1

    

    

 

EXHIBIT
C

PERMITTED FUND MANAGERS

 

	1.	Westbrook
    Partners
	2.	iStar
    Financial Inc.
	3.	Capital
    Trust
	4.	Archon
    Capital, L.P.
	5.	Whitehall
    Street Real Estate Fund, L.P.
	6.	The
    Blackstone Group
	7.	Normandy
    Real Estate Partners
	8.	Dune
    Real Estate Partners
	9.	AllianceBernstein
	10.	Rockwood
	11.	RREEF
    Funds
	12.	Hudson
    Advisors
	13.	Artemis
    Real Estate Partners
	14.	Apollo
    Real Estate Advisors
	15.	Colony
    Capital, Inc.
	16.	Praedium
    Group
	17.	Fortress
    Investment Group, LLC
	18.	Lonestar
    Opportunity Funds
	19.	Clarion
    Partners
	20.	Walton
    Street Capital, LLC
	21.	Starwood
    Financial Trust
	22.	BlackRock,
    Inc.
	23.	Eightfold
    Real Estate Capital, L.P.
	24.	KKR
    Real Estate Manager Finance LLC
	25.	Rialto
    Capital Management, LLC
	26.	Rialto
    Capital Advisors, LLC
	27.	PRIMA
    Capital Advisors LLC
	28.	Lord
    Abbett & Co. LLC

 

    C-1Exhibit 4.6

 

EXECUTION VERSION 

 

AGREEMENT BETWEEN NOTE HOLDERS

 

Dated as of April 24, 2019

 

by and between

 

BARCLAYS CAPITAL REAL ESTATE INC.

(Initial Note A-1 Holder),

 

and

 

BARCLAYS CAPITAL REAL ESTATE INC.

(Initial Note A-2 Holder)

 

INLAND DEVON SELF STORAGE PORTFOLIO

 

    

    

    

 

TABLE OF CONTENTS

 

	 	 	Page
	 	 	 
	Section 1	Definitions	2
	Section 2	Servicing of the Mortgage Loan	16
	Section 3	Priority of Payments	21
	Section 4	Workout	22
	Section 5	Administration of the Mortgage Loan	22
	Section 6	Rights of the Controlling Note Holder	27
	Section 7	Appointment of Special Servicer	29
	Section 8	Payment Procedure	30
	Section 9	Limitation on Liability of the Note Holders	31
	Section 10	Bankruptcy	32
	Section 11	Representations of the Note Holders	32
	Section 12	No Creation of a Partnership or Exclusive Purchase Right	33
	Section 13	Other Business Activities of the Note Holders	33
	Section 14	Sale of the Notes	33
	Section 15	Registration of the Notes and Each Note Holder	36
	Section 16	Governing Law; Waiver of Jury Trial	36
	Section 17	Submission To Jurisdiction; Waivers	40
	Section 18	Modifications	37
	Section 19	Successors and Assigns; Third Party Beneficiaries	38
	Section 20	Counterparts	38
	Section 21	Captions	38
	Section 22	Severability	38
	Section 23	Entire Agreement	38
	Section 24	Withholding Taxes	38
	Section 25	Custody of Mortgage Loan Documents	39
	Section 26	Cooperation in Securitization	40
	Section 27	Notices	41
	Section 28	Broker	41
	Section 29	Certain Matters Affecting the Agent	41
	Section 30	Reserved	45
	Section 31	Resignation of Agent	41
	Section 32	Resizing	42

 

    -i-

    

    

 

This AGREEMENT BETWEEN
NOTE HOLDERS (“Agreement”), dated as of April 24, 2019, by and between BARCLAYS CAPITAL REAL ESTATE INC. (“Barclays”
and together with its successors and assigns in interest, in its capacity as initial owner of Note A-1, the “Initial
Note A-1 Holder”, and in its capacity as the initial agent, the “Initial Agent”) and BARCLAYS CAPITAL
REAL ESTATE INC. (together with its successors and assigns in interest, in its capacity as initial owner of Note A-2, the “Initial
Note A-2 Holder” and together with the Initial Note A-1 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), Barclays originated a certain loan (the “Mortgage Loan”) described
on the schedule attached hereto as Exhibit A (the “Mortgage Loan Schedule”) to Four State Storage
DST (the “Mortgage Loan Borrower”), which is evidenced, inter alia, by (i) one promissory
note in the original principal amount of $41,000,000 (as amended, modified or supplemented, “Note A-1”) made
by the Mortgage Loan Borrower in favor of the Initial Note A-1 Holder and (ii) one promissory note in the original principal amount
of $30,000,000 (as amended, modified or supplemented, “Note A-2”, and, together with Note A-1 the “Notes”)
made by the Mortgage Loan Borrower in favor of the Initial Note A-1 Holder and the Initial Note A-2 Holder, each 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”); and

 

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 meaning ascribed to such terms, or terms of substantially
similar import, 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 Interest”
shall mean the interest accrued on any Servicing Advance which is payable to the party that made that Servicing Advance, in accordance
with the Lead Securitization Servicing Agreement.

 

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

 

“Agent Office”
shall mean the designated office of the Agent, which office initially shall be the office of the Initial Note A-1 Holder listed
on Exhibit B hereto and, after the

 

    1

    

    

 

Securitization Date, shall be the office of the Master Servicer. The Agent Office
is the address to which notices to and correspondence with the Agent should be directed. The Agent may change the address of its
designated office by notice to the Note Holders.

 

“Agreement”
shall mean this Agreement between Note Holders, the exhibits hereto and all amendments hereof and thereof and supplements hereto
and thereto.

 

“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 named in 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.

 

“Barclays”
shall have the meaning assigned to such term in the preamble to this 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 that is a CDO, shall mean the entity that 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 appointed as provided in the Lead Securitization Servicing Agreement.

 

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

 

“Commission”
shall mean the United States Securities and Exchange Commission.

 

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

 

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

 

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

 

    -2-

    

    

 

“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. The terms “Controlled”,
“Controlling” and “Controls” shall have the correlative meanings thereto.

 

“Controlling
Note Holder” shall mean the Note A-1 Holder; provided that at any time Note A-1 is included in a Securitization,
references to the “Controlling Note Holder” herein shall mean the holders of the majority of the class of securities
issued in such Securitization designated as the “controlling class” or such other class(es) otherwise assigned the
rights to exercise the rights of the “Controlling Note Holder” hereunder or under the Note A-1 PSA; provided
that if at any time Note A-1 (or class of securities issued under the Note A-1 PSA designated as the “controlling class”
or such other class(es) otherwise assigned the rights to exercise the rights of the Controlling Note Holder) is held by a Borrower
Party, Note A-1 (or the class of securities issued under the Note A-1 PSA designated as the “controlling class” or
such other class(es) otherwise assigned the rights to exercise the rights of the Controlling Note Holder) shall not be entitled
to exercise any rights of the Controlling Note Holder and there shall be deemed to be no Controlling Note Holder hereunder. If
the Controlling Note is included in a Securitization, the Lead Securitization Servicing Agreement may contain additional limitations
on the rights of the designated party entitled to exercise the rights of the “Controlling Note Holder” hereunder if
such designated party is the Mortgage Loan Borrower or if it has certain relationships with the Mortgage Loan Borrower.

 

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

 

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

 

“Depositor”
shall mean the depositor for the Lead Securitization.

 

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

 

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

 

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

 

“Indemnified
Items” shall have the meaning assigned to such terms in Section 2(b).

 

“Indemnified
Parties” shall have the meaning assigned to such terms in Section 2(b).

 

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

 

    -3-

    

    

 

“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
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 Applicable 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 Trustee, the Non-Lead Trustee, the Operating Advisor, the Non-Lead Operating Advisor,
the Mortgage Loan Borrower, any manager of any Mortgaged Property, any independent contractor engaged by any of the foregoing parties,
the Controlling Note Holder, 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 that 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, Inc. and its successors in interest.

 

“Lead Securitization”
shall mean the Note A-1 Securitization; provided that, if the Note A-2 Securitization occurs prior to the Note A-1 Securitization,
then the Note A-2

 

    -4-

    

    

 

Securitization shall be the Lead Securitization until such time as the Note A-1 Securitization occurs.

 

“Lead Securitization
Controlling Class Representative” shall mean the “Controlling Class Representative” or equivalent Person
under the Lead Securitization Servicing Agreement.

 

“Lead Securitization
Note” shall mean the Note included in the Lead Securitization.

 

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

 

“Lead Securitization
Servicing Agreement” shall mean (i) the pooling and servicing agreement or other comparable agreement related to the
Lead Securitization, and (ii) on and after the date on which 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
Trust” shall mean the Securitization Trust created in connection with the Lead Securitization.

 

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

 

“Master Servicer”
shall mean the master servicer appointed to act in such capacity with respect to the Mortgage Loan as provided in the Lead Securitization
Servicing Agreement.

 

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

 

“Monthly Payment
Date” shall mean the Payment Date (as defined in the Mortgage Loan Documents).

 

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

 

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

 

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

 

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

 

“Mortgage Loan
Agreement” shall mean the Loan Agreement, dated as of March 29, 2019, between the Mortgage Loan Borrower, as borrower,
and Barclays Capital Real Estate Inc., as lender, as the same may be further amended, restated, supplemented or otherwise modified
from time to time, subject to the terms hereof.

 

    -5-

    

    

 

“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 13.

 

“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, guarantying or 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.

 

“New Notes”
shall have the meaning assigned to such term in Section 32.

 

“Non-Controlling
Note” means any Note (other than the Controlling Note), including any New Note designated as a “Non-Controlling
Note” hereunder pursuant to Section 32.

 

“Non-Controlling
Note Holder” means the holder of the Non-Controlling Note; provided that with respect to the Non-Controlling Note,
at any time the Non-Controlling Note is included in a Securitization, references to the “Non-Controlling Note Holder”
herein shall mean the related Non-Controlling Note Holder Representative under the related Securitization Servicing Agreement or
any other party assigned the rights to exercise the rights of the “Non-Controlling Note Holder” hereunder, as and to
the extent provided in the related Securitization Servicing Agreement and as to the identity of which the Controlling Note Holder
(and, if applicable, the Master Servicer and the Special Servicer) has been given written notice; provided that if at any time
the Non-Controlling Note (or class of securities issued under the related Non-Lead Securitization Servicing Agreement designated
as the “controlling class” or such other party otherwise assigned the rights to exercise the rights of the Non-Controlling
Note Holder) is held by a Borrower Party, the Non-Controlling Note (or the class of securities issued under the Non-Lead Securitization
Servicing Agreement designated as the “controlling class” or such other party otherwise assigned the rights to exercise
the rights of the Non-Controlling Note Holder) shall not be entitled to exercise any rights of the Non-Controlling Note Holder,
and there shall be deemed to be no Non-Controlling Note Holder hereunder with respect to the Non-Controlling Note. The Controlling
Note Holder (or, if applicable, the Master Servicer or the Special Servicer acting on its behalf) shall not be required at any
time to deal with more than one party in respect of any Note that is exercising the rights of a “Non-Controlling Note Holder”
herein or, under the Lead Securitization Servicing Agreement and, (x) to the extent that the related Securitization Servicing Agreement
assigns such rights to more than one party or (y) to the extent the related Non-Controlling Note is split into two or more New
Notes pursuant to Section 32, for purposes of this Agreement, such Securitization Servicing Agreement or the holders of
such New Notes shall designate one party to deal with the Lead Securitization Note Holder (or, the Master Servicer or the Special
Servicer acting on its behalf) and provide written notice of such

 

    -6-

    

    

 

designation to the Lead Securitization Note Holder (or, the Master
Servicer and the Special Servicer acting on its behalf); provided that, in the absence of such designation and notice, the
Lead Securitization Note Holder (or, the Master Servicer or the Special Servicer acting on its behalf) shall be entitled to treat
the last party as to which it has received written notice as having been designated as the Non-Controlling Note Holder with respect
to such Non-Controlling Note for all purposes of this Agreement. As of the date hereof and until further notice from the Non-Controlling
Note Holder (or, if applicable, the related Non-Lead Master Servicer or another party acting on its behalf), the Initial Note A-2
Holder is the Non-Controlling Note Holder with respect to Note A-2. If the Non-Controlling Note is included in a Securitization,
the related Securitization Servicing Agreement may contain additional limitations on the rights of the designated party entitled
to exercise the rights of the “Non-Controlling Note Holder” hereunder if such designated party is the Mortgage Loan
Borrower or if it has certain relationships with the Mortgage Loan Borrower.

 

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

 

“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 “Asset Representations Reviewer” (or similarly named Person that
is the “asset representations reviewer” as defined in Item 1101(m) of Regulation AB.) 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 “master servicer” under the Non-Lead Securitization Servicing Agreement.

 

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

 

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

 

“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 Note A-2.

 

    -7-

    

    

 

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

 

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

 

“Non-Lead Securitization
Servicing Agreement” shall have the meaning assigned to such term in Section 2(b).

 

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

 

“Non-Lead Sponsor”
shall mean the Note A-2 Holder in its capacity as the sponsor with respect to the related 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.

 

“Non-Securitizing
Note Holder” shall mean, with respect to the Securitization, each Note Holder other than a Securitizing Note Holder with
respect to such Securitization.

 

“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 Master
Servicer” shall mean the master servicer under the Note A-1 PSA.

 

“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 (or any New Notes issued in substitution
thereof) received by the Note A-1 Holder (or any holders of New Notes in substitution thereof) or reductions in such amount pursuant
to Section 3 or Section 4, as applicable.

 

“Note A-1 PSA”
shall mean the pooling and servicing agreement or other comparable agreement entered into in connection with the Note A-1 Securitization.

 

“Note A-1 Securitization”
shall mean the first sale by the Note A-1 Holder of all or a portion of Note A-1 to a depositor who will in turn include such portion
of Note A-1 as part of the securitization of one or more mortgage loans.

 

“Note A-1 Securitization
Date” shall mean the closing date of the Note A-1 Securitization.

 

    -8-

    

    

 

“Note A-1 Special
Servicer” shall mean the special servicer under the Note A-1 PSA.

 

“Note A-1 Trustee”
shall mean the trustee under the Note A-1 PSA.

 

“Note A-1 Trust
Fund” shall mean the trust formed pursuant to the Note A-1 PSA.

 

“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 Master
Servicer” shall mean the master servicer under the Note A-2 PSA.

 

“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 (or any New Notes issued in substitution
thereof) received by the Note A-2 Holder (or any holders of New Notes in substitution thereof) or reductions in such amount pursuant
to Section 3 or Section 4, as applicable.

 

“Note A-2 PSA”
shall mean the pooling and servicing agreement or other comparable agreement entered into in connection with the Note A-2 Securitization.

 

“Note A-2 Securitization”
shall mean the first sale by the Note A-2 Holder of all or a portion of Note A-2 to a depositor who will in turn include such portion
of Note A-2 as part of the securitization of one or more mortgage loans.

 

“Note A-2 Securitization
Date” shall mean the closing date of the Note A-2 Securitization.

 

“Note A-2 Special
Servicer” shall mean the special servicer under the Note A-2 PSA.

 

“Note A-2 Trustee”
shall mean the trustee under the Note A-2 PSA.

 

“Note Holder
Representative” shall mean a Controlling Note Holder Representative or a Non-Controlling Note Holder Representative,
as applicable.

 

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

 

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

 

“Note Principal
Balance” shall mean, (i) with respect to Note A-1, the Note A-1 Principal Balance and (ii) with respect to Note A-2,
the Note A-2 Principal Balance.

 

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

 

    -9-

    

    

 

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

 

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

 

“P&I Advance”
shall mean an advance made by a party to any 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 each Note Holder, a fraction, expressed as a percentage, the numerator of which
is the Note Principal Balance of the Note held by such Note Holder and the denominator of which is the sum of the Note Principal
Balances of all of the Notes.

 

“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.

 

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

 

“Pro Rata and
Pari Passu Basis” shall mean with respect to the 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.

 

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

 

(a)       an
entity Controlled by any of the Initial Note Holders, 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, or

 

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

 

    -10-

    

    

 

(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 each of the Rating Agencies that assigned a rating to one or more classes
of securities issued in connection with that 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) 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 subject
to Rating Agency Confirmations from the Rating Agencies rating each Securitization (such entity, an “Approved Servicer”)
and such Approved Servicer is required to service and administer such Note or any interest therein in accordance with servicing
arrangements for the assets held by the Securitization Vehicle which require that such Approved Servicer act in accordance with
a servicing standard notwithstanding any contrary direction or instruction from any other Person; or (3) in the case of a Securitization
Vehicle that is a 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 (b)(i), (ii), (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

 

    -11-

    

    

 

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

 

(c)       any
entity Controlled by any of the entities described in clause (b)(i), (ii), (iv)(B) or (v) above or subject to a Rating Agency Confirmation
as a Qualified Institutional Lender for purposes of this Agreement from each of the Rating Agencies engaged to rate the securities
for any Securitization.

 

“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 or (ii) an institution whose long-term senior unsecured debt is rated in either of the then in effect
top three rating categories of each of the applicable Rating Agencies (or, if not rated by an applicable Rating Agency, an equivalent
(or higher) rating from any two of Fitch, Moody’s and S&P).

 

“Rating Agencies”
shall mean DBRS, Fitch, KBRA, Moody’s, Morningstar 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 engaged 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 one or more of the Notes 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 related
Notes.

 

“Rating Agency
Confirmation” shall mean, with respect to any Securitization, a confirmation in writing (which may be in electronic form)
by each of the applicable Rating Agencies for such Securitization that a proposed action, failure to act or other event so specified
will not, in and of itself, result in the downgrade, withdrawal or qualification of the then current rating assigned to any class
of securities of such Securitization (if then rated by such Rating Agency); provided that a written waiver or other acknowledgment
from any such Rating Agency indicating its decision not to review the matter for which the Rating Agency Confirmation is sought
shall be deemed to satisfy the requirement for the Rating Agency Confirmation from such Rating Agency with respect to such matter.
If no such securities are outstanding with respect to any Securitization, any action that would otherwise require a Rating Agency
Confirmation shall instead require the consent of the Note A-1 Holder, which consent shall not be unreasonably withheld, conditioned
or delayed.

 

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

 

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

 

    -12-

    

    

 

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

 

“REMIC Provisions”
shall mean the provisions of the federal income tax law relating to real estate mortgage investment conduits, which appear at Sections
860A through 860G of subchapter M of chapter 1 of the Code, and related provisions, and temporary and final Treasury Regulations
(or proposed regulations that would apply by reason of their proposed effective date to the extent not inconsistent with temporary
or final regulations) and any rulings or announcements promulgated thereunder, as the foregoing may be in effect from time to time.

 

“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 Morningstar, such special servicer has acted as special servicer
in one or more other commercial mortgage-backed securitizations within the prior twelve (12) months, and Morningstar has not, with
respect to any such other transactions, qualified, downgraded or withdrawn its rating or ratings on one or more classes of securities
issued in such securitizations, (v) in the case of DBRS, 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 within the twelve (12) month period prior
to the date of determination, and DBRS 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 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 (vi) in the case of 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, and its successors in interest.

 

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

 

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

 

“Securitization”
shall mean the Note A-1 Securitization or the Note A-2 Securitization.

 

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

 

    -13-

    

    

 

“Securitization
Servicing Agreement” shall mean the Lead Securitization Servicing Agreement or the Non-Lead Securitization Servicing
Agreement.

 

“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.”

 

“Securitizing
Note Holder” shall mean, with respect to a Securitization, each Note Holder that is contributing its Note to such Securitization.

 

“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 assigned to such term or an analogous term in the Lead Securitization Servicing Agreement. The Servicing
Standard in the Lead Securitization Servicing Agreement 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 appointed to act in such capacity with respect to the Mortgage Loan as provided in the Lead Securitization
Servicing Agreement.

 

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

 

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

 

“Trust Fund”
shall mean the trust formed pursuant to the Lead Securitization Servicing Agreement.

 

“Trustee”
shall mean the trustee appointed as provided in the Lead Securitization Servicing Agreement.

 

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

 

    -14-

    

    

 

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 Securitization Date by the Master Servicer and the Special Servicer pursuant to the terms of this Agreement and 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 make Servicing Advances, subject to the terms of the Lead Securitization
Servicing Agreement. The Lead Securitization Servicing Agreement shall contain terms and conditions 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 and (iii) generally required
by the Rating Agencies in connection with the issuance of ratings in securitizations similar to the Securitizations. Each Note
Holder acknowledges that each other Note Holder may elect, in its sole discretion, to include its Note in a Securitization and
agrees that it will, subject to Section 26 hereof, 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 and the Trustee under the Lead Securitization
Servicing Agreement by the Depositor and the appointment of the Special Servicer by the Controlling Note Holder 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 against
any other Note Holder or limit the Servicer in enforcing the rights of one Note Holder against any other Note Holder; however,
this statement shall not be construed to otherwise limit the rights of one Note Holder with respect to any other Note Holder, and
is subject in all respects to Section 6.04 of the Lead Securitization Servicing Agreement. 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

 

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Securitization Servicing Agreement and all
references herein to the “Lead Securitization Servicing Agreement” shall mean such subsequent servicing agreement;
provided, that if the Non-Lead Securitization Note is in a Securitization, then a Rating Agency Confirmation shall have
been obtained from each other Rating Agency with respect to the securities issued in connection with such securitization for the
Non-Lead Securitization Note regarding any servicer(s) to be appointed under such replacement servicing agreement that does not
have the Required Special Servicer Rating for such Rating Agency and that would not otherwise meet the conditions to be a servicer
under the Lead Securitization Servicing Agreement that is being replaced; provided, further, 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, as if such agreement were still in full force and effect with
respect to the Mortgage Loan, by the applicable Servicer in the Lead Securitization or by any Person appointed by the Lead Securitization
Note Holder that is a servicer meeting the requirements of a master servicer under the Lead Securitization Servicing Agreement
and, in the case of the Special Servicer, that meets the Required Special Servicer Rating for each Rating Agency then rating securities
of the Non-Lead Securitization.

 

(b)       The
Master Servicer shall be the lead master servicer on the Mortgage Loan, and from time to time it (or the Trustee or the Special
Servicer, to the extent provided in the Lead Securitization Servicing Agreement) shall make the following advances, subject to
the terms of the Lead Securitization Servicing Agreement and this Agreement: (i) Servicing Advances on the Mortgage Loan and (ii)
P&I Advances on the Lead Securitization Note. The Master Servicer, the Special Servicer and the Trustee, as applicable, shall
be entitled to reimbursement for a Servicing Advance, first from funds on deposit in the Collection Account and/or the Companion
Distribution Account for the Mortgage Loan that (in any case) represent amounts received on or in respect of the Mortgage Loan,
and then, in the case of Nonrecoverable Advances, if such funds on deposit in the Collection Account or Companion Distribution
Account are insufficient, from general collections of the Lead Securitization as provided in the Lead Securitization Servicing
Agreement. The Master Servicer, the Special Servicer and the Trustee, as applicable, shall be entitled to reimbursement for Advance
Interest on a Servicing Advance (including any Nonrecoverable Advance), in the manner and from the sources provided in the Lead
Securitization Servicing Agreement, including from general collections of the Lead Securitization. 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 Advance or any Advance Interest on a Servicing Advance (including
any Nonrecoverable Advance), the Non-Lead Securitization Note Holder (including the Securitization Trust into which the Non-Lead
Securitization Note is deposited) shall be required to, promptly following notice from the Master Servicer, reimburse the Lead
Securitization for its pro rata share of such Nonrecoverable Advance or Advance Interest.

 

In addition,
the Non-Lead Securitization Note Holder (including, but not limited to, the Securitization Trust into which the Non-Lead Securitization
Note is deposited) shall be required to, promptly following notice from the Master Servicer, reimburse the Lead Securitization
for the Non-Lead Securitization Note Holder’s pro rata share of any 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,

 

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the Operating Advisor or the Depositor, as applicable, is entitled to be reimbursed pursuant to the
Lead Securitization Servicing Agreement, to the extent amounts on deposit in the Companion Distribution Account are insufficient
for reimbursement of such amounts. The Non-Lead Securitization Note Holder shall indemnify (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) (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 servicing and administration of the Mortgage Loan (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 Companion Distribution Account or Collection Account, as applicable, 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; provided,
however, that the Non-Lead Securitization Note Holder’s duty to pay Indemnified Items to the Operating Advisor shall
be subject to any limitations and conditions (including limitations and conditions with respect to the timing of such payments
and the sources of funds for such payments) as may be set forth from time to time in the related Non-Lead Securitization Servicing
Agreement.

 

The Non-Lead
Master Servicer (or if not made by such Non-Lead Master Servicer, the related Non-Lead Trustee) may be required to make P&I
Advances on the related Non-Lead Securitization Note, from time to time, subject to the terms of the related servicing agreement
for the related Securitization (each such agreement, a “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 each be entitled to make its own recoverability determination with respect to a P&I Advance to be made on the Lead Securitization
Note based on the information that it has on hand and in accordance with the Lead Securitization Servicing Agreement. The Non-Lead
Master Servicer, Non-Lead Special Servicer and Non-Lead Trustee under the related Non-Lead Securitization Servicing Agreement,
as applicable, shall be entitled to make its own recoverability determination with respect to a P&I Advance to be made on the
related Non-Lead Securitization Note based on the information that it has 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 Non-Lead Trustee shall
be required to notify the other of the amount of its P&I Advance within two Business Days of making such advance. If the Master
Servicer, the Special Servicer or the Trustee, as applicable (with respect to the Lead Securitization Note) or the Non-Lead Master
Servicer, Non-Lead Special Servicer or 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,

 

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subsequently determines that a proposed Servicing
Advance would be non-recoverable or an outstanding Servicing 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 Non-Lead Trustee (as provided in the
related Non-Lead Securitization Servicing Agreement, in the case of a determination of non-recoverability by the Non-Lead Master
Servicer, Non-Lead Special Servicer or Non-Lead Trustee) shall notify the Master Servicer and the Trustee, or the Non-Lead Master
Servicer and Non-Lead Trustee, as the case may be, of such other Securitization within two Business Days of making such determination.
Each of the Master Servicer, the Trustee, any 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 first from the Companion Distribution 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 related 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 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 the Non-Lead Securitization Note, and any other applicable fees and
reimbursements payable to the Master Servicer, the Special Servicer and the Trustee, to the related 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
related 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 (i) is at least one 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
clause (c)(xiii) below;

 

(ii)       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 related 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 related Non-Lead Securitization Note, the Master
Servicer, the

 

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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 related Non-Lead Securitization Determination Date, in each case so long as the date
on which delivery is required under this clause (ii) is at least one business day after the scheduled monthly payment date under
the Mortgage Loan Agreement;

 

(iii)       the
Master Servicer and the Special Servicer, as applicable, shall provide (or the Special Servicer shall provide to the Master Servicer
for provision by the Master Servicer) (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;

 

(iv)       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 and 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 depositor of any public Other Securitization Trust, 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 (v) below in
a timely manner, (ii) its failure to perform its obligations to such depositor or Non-Lead Trustee under Article X (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 a Mortgage Loan Seller Sub-Servicer) to perform its obligations to such depositor or trustee under such Article X (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;

 

(v)       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 a Mortgage Loan Seller 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 related Non-Lead Securitization
Servicing Agreement, in the case of clauses (i) and (ii), as the Non-Lead Depositor or Non-Lead Trustee reasonably believes, in
good faith, are required in order for such Non-Lead Depositor or Non-Lead Trustee to comply with its obligations

 

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under the Securities
Act, the Exchange Act (including Rule 15Ga-1), Regulation AB and Form SF-3, (b) without limiting the generality of the foregoing
(x) the Depositor or the related Note Holder shall provide or cause to be provided to the Non-Lead Depositor (and to counsel to
such 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 such Securitization, and (2) no later than the closing date of such
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 related Non-Lead Sponsor) (or, in the case of a replacement Special Servicer, contained in a Lead Securitization Form 8-K),
for inclusion in the disclosure materials (or, in the case of a replacement Special Servicer, for inclusion in 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 related 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 Non-Lead Certificate Administrator
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 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 the Non-Lead
Securitization;

 

(vi)       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 each Lead Depositor under
Article X (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 such Non-Lead Depositor must bear pursuant to Article X (or any article substantially similar thereto)
of the Lead Securitization Servicing Agreement) and any amendments to any reports filed with the

 

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Commission therewith shall be
promptly paid by the applicable Affected Reporting Party upon receipt of an itemized invoice from such Non-Lead Depositor;

 

(vii)       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 related Non-Lead
Securitization Note Holder under this Agreement and the Lead Securitization Servicing Agreement;

 

(viii)       the
Non-Lead Master Servicer and Non-Lead Special Servicer 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 the related
Non-Lead Master Servicer or the related Non-Lead Special Servicer, as the case may be, and the provisions regarding coordination
of Advances;

 

(ix)       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 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 the Non-Lead Master Servicer who shall provide notice to the related
Non-Controlling Note Holder of the planned sale and of such Non-Controlling Note Holder’s opportunity to submit an offer
on the Mortgage Loan;

 

(x)       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;

 

(xi)       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
Companion Distribution 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

 

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required under the related 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 and 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 and 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;

 

(xii)       upon
any resignation of the Master Servicer or the Special Servicer, any replacement of 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, Non-Lead Master
Servicer, and 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;

 

(xiii)       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 related Non-Lead Master Servicer or the related Non-Lead Trustee shall be remitted by the Master Servicer
to the related Non-Lead Master Servicer within one (1) Business Day of receipt of properly identified and available funds constituting
such late collections; 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 late collections to the related
Non-Lead Master Servicer within one (1) Business Day of receipt of properly identified and available funds but, in any event, the
Master Servicer shall remit such amounts within two (2) Business Days of receipt of properly identified and available funds;

 

(xiv)       
if the Non-Lead Securitization Note becomes the subject of an Asset Review pursuant to the related Non-Lead Securitization Servicing
Agreement, the Master Servicer, the Special Servicer, the Trustee and the Custodian shall reasonably cooperate with the related
Non-Lead Asset Representations Reviewer in connection with such Asset Review by providing such Non-Lead Asset Representations Reviewer
with any documents reasonably requested by such Non-Lead Asset Representations Reviewer, but only to the extent (x) such documents
are in the possession of the Master Servicer, the

 

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Special Servicer, the Trustee or the Custodian, as the case may be, and (y) such
Non-Lead Asset Representations Reviewer has not been able to obtain such documents from the related mortgage loan seller;

 

(xv)       any
conflict between the Lead Securitization Servicing Agreement and this Agreement shall be resolved in favor of this Agreement; provided
that in no event shall the Master Servicer or the Special Servicer, as the case may be, take any action or omit to take any action
in accordance with the terms of this Agreement that would cause the Master Servicer or the Special Servicer, as the case may be,
to violate the Servicing Standard or the REMIC Provisions;

 

(xvi)       special
servicing, workout and liquidation fee rates shall not exceed 0.25%, 1.00% and 1.00%, respectively, subject to any market minimum
special servicing fees and fee offsets set forth in the Lead Securitization Servicing Agreement; and

 

(xvii)       the
Lead Securitization Servicing Agreement shall also satisfy Moody’s rating methodology as of the closing date of the Lead
Securitization Servicing Agreement for eligible accounts and permitted investments for a securitization rated “Aaa”
by Moody’s.

 

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

 

(i)       the
Non-Lead Securitization Note Holder shall be responsible for its pro rata share of any Nonrecoverable Advances (and Advance
Interest thereon) and any additional expenses of the Trust Fund, but only to the extent that such expenses relate to servicing
and administration of the Notes, 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 Servicing Advances or additional expenses of the Trust Fund, (i) the Non-Lead Master Servicer will be required to,
promptly following notice from the Master Servicer, reimburse the Master Servicer, the Special Servicer, the Certificate Administrator
or the Trustee, as applicable, out of general collections in the collection account (or equivalent account) established under the
related Non-Lead Securitization Servicing Agreement for the related Non-Lead Securitization Note Holder’s pro rata
share of any such Nonrecoverable Advances and/or additional expenses of the Trust Fund, and (ii) 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 collections, 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, reimburse the Lead Securitization Trust out of general collections in the collection account (or equivalent account)
established under the related Non-Lead Securitization Servicing Agreement for the related Non-Lead Securitization Note Holder’s
pro rata share of any such Nonrecoverable Advances and/or additional expenses of the Trust Fund;

 

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(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 Lead
Securitization Servicing Agreement) by each Securitization Trust holding the Non-Lead Securitization Note, 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 Companion
Distribution Account are insufficient for reimbursement of such amounts, the related Non-Lead Master Servicer will be required
to reimburse each of the applicable Indemnified Parties for its pro rata share of the insufficiency out of general collections
in the collection account (or equivalent account) established under the related Non-Lead Securitization Servicing Agreement; provided,
however, that such Non-Lead Securitization Servicing Agreement may include limitations and conditions on the payment or
reimbursement of Indemnified Items to the Operating Advisor (including limitations and conditions with respect to the timing of
such payments or reimbursements and the sources of funds for such payments or reimbursements);

 

(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 Securitization
of the Non-Lead Securitization Note, notice of the deposit of such Non-Lead Securitization Note into a Securitization Trust (which
notice shall also provide contact information for the related Non-Lead Trustee, the related certificate administrator, the related
Non-Lead Master Servicer, the related Non-Lead Special Servicer and the party designated to exercise the rights of the “Non-Controlling
Note Holder” under this Agreement), accompanied by a certified copy of such executed Non-Lead Securitization Servicing Agreement
and (ii) notice of any subsequent change in the identity of the related Non-Lead Master Servicer or the party designated to exercise
the rights of the “Non-Controlling Note Holder” under this Agreement (together with the relevant contact information);
and

 

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

  

  (e)      Prior
to the Securitization of the Non-Lead Securitization Note (including any New Note), all notices, reports, information or other
deliverables required to be delivered to the related Non-Lead Securitization 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 related Non-Lead Securitization Note Holder (or its Note Holder Representative)
and, when so delivered to such Non-Lead Securitization Note Holder (or its Note Holder Representative, as applicable), 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 the
Securitization of the related Non-Lead Securitization Note (including any New Note), as applicable, all notices, reports, information
or other deliverables required to be delivered to the Non-Lead 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

 

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Servicer acting on its behalf)
shall be delivered to the related Non-Lead Master Servicer and related 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 related Non-Lead Securitization Servicing Agreement)
and, when so delivered to such related Non-Lead Master Servicer and such related 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.

 

(f)       The
Lead Securitization Note Holder agrees that, if the Non-Lead Securitization Note is included in a Securitization, and such Non-Lead
Securitization is subject to reporting requirements under Regulation AB, the Master Servicer, the Special Servicer, the Trustee
and the Custodian shall be required to reasonably cooperate with the related Non-Lead Asset Representations Reviewer in connection
with such Non-Lead Asset Representations Reviewer’s obligations under the related Non-Lead Securitization Servicing Agreement
with respect to the Mortgage Loan by providing any documents reasonably requested by such Non-Lead Asset Representations Reviewer
or other requesting party in connection with such Non-Lead Asset Representations Reviewer’s obligations, but only to the
extent such documents are in the possession of the Master Servicer, the Special Servicer, the Trustee or the Custodian, as the
case may be and such Non-Lead Asset Representations Reviewer has not been able to obtain such documents from the related mortgage
loan seller. The reasonable out-of-pocket expenses of the Master Servicer, Special Servicer, the Trustee and the Custodian actually
incurred in connection with their compliance with such requests shall be reimbursable by the related Non-Lead Asset Representations
Reviewer or, if not paid by the related Non-Lead Asset Representations Reviewer, the related Non-Lead Securitization Note Holder.

 

(g)       If
Note A-1 is not the first Note to be deposited into the Lead Securitization, the Note A-1 Holder shall give each of the parties
to the Lead Securitization (that will not also be a party to the Note A-1 PSA) and the Non-Controlling Note Holder Representative
under the Lead Securitization Servicing Agreement notice of the Note A-1 Securitization in writing (which may be by e-mail) not
less than 5 business days’ prior to the Note A-1 Securitization Date. Such notice shall contain contact information for each
of the parties to the Note A-1 PSA. In addition, after the Note A-1 Securitization Date, the Note A-1 Holder shall send a copy
of the Note A-1 PSA to each of the parties to the Note A-2 PSA.

 

Section 3.          Priority
of Payments.

 

(a)       Each
Note shall be of equal priority, and no portion of any Note shall have priority or preference over any portion of any 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 Periodic Payments, the Balloon Payment, Liquidation Proceeds, proceeds under any guaranty, letter of credit or other
collateral or instrument securing the Mortgage Loan or Insurance Proceeds and Condemnation 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

 

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of the Mortgage Loan Documents) shall be applied by the Lead Securitization Note Holder (or its designee)
to the Notes on a Pro Rata and Pari Passu Basis; provided, that (x) all amounts for required reserves or escrows required by 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 Servicing Advances then due and payable or reimbursable to the Trustee or any Servicer under the
Lead Securitization Servicing Agreement shall be applied to the extent set forth in, and in accordance with the terms of, the Mortgage
Loan Documents; and (y) all amounts that are then due, payable or reimbursable to any Servicer, with respect to the Mortgage Loan
pursuant to the Lead Securitization Servicing Agreement and any other compensation payable to it thereunder (including without
limitation, any additional expenses of the Trust Fund relating to the Mortgage Loan (but subject to the second paragraph of Section
5(d) hereof) reimbursable to, or payable by, such parties and any Special Servicing Fees, Liquidation Fees, Workout Fees and
Penalty Charges (to the extent provided in the immediately following paragraph) but excluding (i) any P&I Advances (and interest
thereon) on the Lead Securitization Note, which shall be reimbursed in accordance with Section 2(b) hereof, and (ii) any
Master 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” applicable to the Mortgage Loan as set forth
in the Lead Securitization Servicing Agreement, which such excess shall not be subject to the allocation provisions of this Section
3) shall be payable in accordance with the Lead Securitization Servicing Agreement.

 

For clarification purposes,
Penalty Charges 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 Servicing
Advances and reimbursement of any Servicing 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, the Non-Lead Master Servicer or the 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 expenses of the Trust Fund (other than 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,
(i) in the case of the remaining amount of Penalty Charges allocable to the Lead Securitization Note, 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) in the case of the remaining amount of Penalty Charges allocable to the Non-Lead Securitization Note, be paid, (x) prior to
the securitization of such Note, to the Non-Lead Securitization Note Holder and (y) following the securitization of such Note,
to the 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

 

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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(c)) 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 not have any voting, consent or other rights whatsoever except as explicitly set forth herein
with respect to the Lead Securitization Note Holder’s administration of, or exercise of its rights and remedies with respect
to, the Mortgage Loan. Subject to this Agreement and the Lead Securitization Servicing Agreement, the Non-Lead Securitization Note
Holder 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 the 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 Loan to sell the Notes together as notes evidencing
one whole loan in accordance with the terms of the Lead Securitization Servicing Agreement and shall require that all offers be
submitted to the Special Servicer in writing. 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. Absent an offer at least equal to the Purchase Price, 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

 

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independent
third parties. In determining whether any offer from an Interested Person received represents a fair price for the Mortgage Loan,
the Trustee shall rely on the most recent Appraisal (or update of such Appraisal) conducted in accordance with the Lead Securitization
Servicing Agreement within the preceding nine (9)-month period or, in the absence of any such Appraisal, on a new Appraisal. 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 or updated Appraisal or narrative appraisal
that it may have obtained within the prior nine (9) months pursuant to the Lead Securitization Servicing Agreement) among other
factors, the period and amount of the occupancy level and physical condition of the Mortgaged Property and the state of the local
economy. In determining whether any offer received from an Interested Person represents a fair price for any such Defaulted Loan,
the Trustee shall rely on the most recent Appraisal (or update of such Appraisal) of the related Mortgaged Property conducted in
accordance with this Agreement within the preceding nine (9) month period or, in the absence of any such Appraisal, on a new Appraisal.
Except as provided in the following paragraph, the cost of any Appraisal will be covered by, and will be reimbursable as, a Servicing
Advance by the Master Servicer. 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 without the written consent
of the Non-Lead Securitization Note Holder (provided that such consent is not required if the related Non-Lead Securitization Note
is held by the Mortgage Loan Borrower or an Affiliate of the Mortgage Loan Borrower) unless the Special Servicer has delivered
to the Non-Lead Securitization Note Holder: (a) at least 15 Business Days’ prior written notice of any decision to attempt
to sell the Mortgage Loan; (b) at least ten (10) days prior to the proposed sale date, a copy of each bid package (together with
any amendments to such bid packages) received by the Special Servicer in connection with any such proposed sale, (c) at least ten
(10) days prior to the proposed sale date, a copy of the most recent appraisal for the Mortgage Loan, and any documents in the
servicing file reasonably requested by the Non-Lead Securitization Note Holder that are material to the sale 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 Controlling 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 the Master Servicer or the Special Servicer
in connection with the proposed sale; provided, however, that the Non-Lead Securitization Note Holder may waive any delivery or
timing requirements set forth in this sentence only for itself. Subject to the foregoing, each of the Controlling Note Holder,
the Controlling Note Holder Representative, the Non-Controlling Note Holder and the Non-Controlling Note Holder Representatives
shall be permitted to submit an offer at any sale of the Mortgage Loan (unless such Person is a Borrower Party).

 

Notwithstanding
anything contained in the preceding 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 offering Interested Person
purchaser) designate an independent third party expert in real estate or commercial mortgage loan matters with at least five (5)
years’ experience in valuing 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 third party to make
such determination, the Trustee shall be entitled to rely conclusively upon such third

 

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party’s determination. The reasonable
fees of, and the costs of all appraisals, inspection reports and broker opinions of value incurred by any such third party shall
be covered by, and shall be reimbursable, from the offering Interested Person.

 

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, such Non-Lead Securitization Note Holder shall execute and deliver
to or at the direction of Lead Securitization Note Holder such powers of attorney or other instruments as the Lead Securitization
Note Holder may reasonably request to better assure and evidence the foregoing appointment and grant, in each case promptly following
request, and shall deliver the 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 Initial Note Holder from the trust fund established under the Lead Securitization Servicing Agreement
in connection with a material breach of representation or warranty made by such Initial Note Holder with respect to the Lead Securitization
Note or material document defect with respect to the documents delivered by the related Initial Note Holder with respect to the
Lead Securitization Note upon the consummation of 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 such Initial Note Holder or any
document delivery obligation imposed on such Initial Note Holder under any mortgage loan purchase and sale agreement, instrument
of transfer or other document or instrument that may be executed or delivered by such Initial Note Holder 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 each
Note Holder. 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 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

 

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materially and adversely affect the Non-Lead Securitization Note Holder in its capacity as
Non-Lead Securitization Note Holder without such Non-Lead Securitization Note Holder’s prior written consent. The Non-Lead
Securitization Note Holder (unless it is a Borrower Party) shall be a third-party beneficiary to the Lead Securitization Servicing
Agreement with respect to its rights as specifically provided for therein.

 

(c)       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
Controlling Class Representative pursuant to the Lead Securitization Servicing Agreement (for this purpose, without regard to whether
such items are actually required to be provided to the Lead Securitization Controlling Class Representative under the Lead Securitization
Servicing Agreement due to the occurrence of a Control Termination Event or a Consultation Termination Event or effectively equivalent
period) with respect to any Major Decision or the implementation of any recommended actions outlined in an Asset Status Report
relating to the Mortgage Loan, to the Non-Lead Securitization Note Holder (or its Non-Lead Securitization Note Holder Representative),
within the same time frame it is required to provide to the Lead Securitization Controlling Class Representative (for this purpose,
without regard to whether such items are actually required to be provided to the Lead Securitization Controlling Class Representative
under the Lead Securitization Servicing Agreement due to the occurrence of a Control Termination Event or a Consultation Termination
Event or effectively equivalent period) and (ii) 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, such Non-Controlling
Note Holder (or its Non-Controlling Note Holder Representative) requests consultation with respect to any such Major Decision or
the implementation of any recommended actions outlined in an Asset Status Report relating to the Mortgage Loan, and consider alternative
actions recommended by such 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 such Non-Controlling Note Holder (or its Non-Controlling
Note Holder Representative) by the Lead Securitization Note Holder (or the Master Servicer or the Special Servicer acting on its
behalf) of written notice of a proposed action, together with copies of the notice, information and report required to be provided
to the Lead Securitization Controlling Class Representative, 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 such Non-Controlling Note Holder (or its Non-Controlling
Note Holder Representative) (unless, the Lead Securitization Note Holder (or the Master Servicer or the Special Servicer acting
on its behalf) proposes a new course of action that is materially different from the action previously proposed, in which case
such ten (10) Business Day period shall be deemed to begin anew from the date of such proposal and delivery of all information
relating thereto). Notwithstanding the consultation rights of 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 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

 

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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 consultation
rights of the Non-Lead Securitization Note Holder (or its Non-Lead Securitization Note Holder Representative) provided in the immediately
preceding paragraph, the Non-Controlling Note Holder shall have the right to attend annual meetings (which may be held telephonically)
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.

 

(d)       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) 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, if 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 each other Note Holder be reduced
to offset or make-up any such payment or deficit.

 

Section 6.          Rights
of the Controlling Note Holder.

 

(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

 

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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 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 such appointment, an address
and telecopy 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 telecopy 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.

 

Neither the Controlling
Note Holder Representative nor the Controlling Note Holder, in such capacity, will have any liability to any 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, gross negligence or breach of this Agreement.
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 any 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, gross negligence or breach of this Agreement on the part of the Controlling
Note Holder Representative or the Controlling Note Holder, as the case may be, acting in such capacity, 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

 

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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 each Note
Holder.

 

The Non-Controlling Note
Holder shall provide notice of its identity and contact information (including any change thereof) to the Trustee, Certificate
Administrator, the Master Servicer and the Special Servicer under the Lead Securitization Servicing Agreement; provided,
that each Initial Note Holder shall be deemed to have provided such notice on the date hereof. The Trustee, Certificate Administrator,
the Master Servicer and the Special Servicer under the Lead Securitization Servicing Agreement shall be entitled to conclusively
rely on such identity and contact information received by it and shall not be liable in respect of any deliveries hereunder sent
in reliance thereon.

 

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 (with respect to such Note Holder, 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 the first
paragraph of this Section 6(a) and the second paragraph of this Section 6(a) shall apply to the Non-Controlling Note
Holder and its related Non-Controlling Note Holder Representative mutatis mutandis.

 

(b)       The
Controlling Note Holder shall be entitled to exercise (x) the rights and powers granted to the Controlling Note Holder hereunder
and (y) the rights and powers granted to the Lead Securitization Controlling Class Representative or similar party under, and as
defined in, the Lead Securitization Servicing Agreement with respect to the Mortgage Loan. In addition, the Controlling Note Holder
shall be entitled to advise (1) the Special Servicer with respect to all matters related to the Mortgage Loan if it is a “Specially
Serviced Loan” (as defined in the Lead Securitization Servicing Agreement) and (2) the Special Servicer with respect to all
matters for which the Master Servicer must obtain the consent or deemed consent of the Special Servicer, and, except as set forth
below, (i) the Master Servicer shall not be permitted to implement any Major Decision unless it has obtained the prior written
consent of the Special Servicer and (ii) the Special Servicer shall not be permitted to consent to the Master Servicer’s
implementing any Major Decision nor will the Special Servicer itself be permitted to implement any Major Decision as to which the
Controlling Note Holder has objected in writing within ten (10) Business Days (or in connection with an Acceptable Insurance Default,
thirty (30) days) after receipt of the written recommendation and analysis and such additional information requested by the Controlling
Note Holder, and reasonably available to the Special Servicer, as may be necessary in order to make a judgment with respect to
such Major Decision. The Controlling Note Holder may also direct the Special Servicer to take, or to refrain from taking, such
other actions with respect to the Mortgage Loan as the Controlling Note Holder may deem advisable. If the Controlling Note Holder
fails to notify the Special Servicer of its approval or disapproval of any proposed Major Decision within ten (10) Business Days
after delivery to the Controlling Note Holder by the applicable Servicer of written notice of a proposed Major Decision together
with any information requested by the Controlling Note Holder as may be necessary in the reasonable judgment of the Controlling
Note Holder in order to make a judgment, then upon the expiration of such ten (10) Business Day period, such Major Decision shall
be deemed to have been approved by the Controlling Note Holder.

 

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In the event that the
Special Servicer or Master Servicer (in the event the Master Servicer is otherwise authorized by the Lead Securitization Servicing
Agreement to take such action), as applicable, determines that immediate action, with respect to the foregoing matters, or any
other matter requiring consent of the Controlling Note Holder is necessary to protect the interests of the Note Holders (as a collective
whole) and the Special Servicer has made a reasonable effort to contact the Controlling Note Holder, the Master Servicer or the
Special Servicer, as the case may be, may take any such action without waiting for the Controlling Note Holder’s response.

 

No objection, consent,
direction or advice contemplated by the preceding paragraphs may require or cause the Master Servicer or the Special Servicer,
as applicable, to (i) violate any provision of the Mortgage Loan Documents, applicable law, the Lead Securitization Servicing Agreement,
this Agreement, the REMIC provisions of the Code or the Master Servicer or Special Servicer’s obligation to act in accordance
with the Servicing Standard, (ii) result in the imposition of a tax on any REMIC trust under the REMIC Provisions or cause any
REMIC pool to fail to qualify as a REMIC or cause the grantor trust to fail to qualify as a grantor trust under subpart E, part
I of subchapter J of the Code for federal income tax purposes, (iii) expose the Master Servicer, the Special Servicer, the Certificate
Administrator, the Operating Advisor, the Depositor, the Asset Representations Reviewer, the Trust Fund or the Trustee or any of
their respective Affiliates, officers, directors, shareholders, partners, members, managers, employees or agents to any claim,
suit, or liability for which this Agreement or the Lead Securitization Servicing Agreement does not provide indemnification to
such party or expose any such party to prosecution for a criminal offense, (iv) materially expand the scope of responsibilities
of any of the Master Servicer, the Special Servicer, the Certificate Administrator, the Asset Representations Reviewer, the Trustee
or the Operating Advisor, as applicable, under this Agreement or the Lead Securitization Servicing Agreement

 

Section
7.          Appointment of Special Servicer.   Subject to the
conditions and requirements set forth in the Lead Securitization Servicing Agreement, the Controlling Note Holder (or its
Controlling Note Holder Representative) shall have the right at any time and from time to time, with or without cause, to
replace the Special Servicer then acting with respect to the Mortgage Loan and appoint a replacement Special Servicer that
satisfies the Required Special Servicer Rating Requirements 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
Non-Controlling 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, but only if required by the terms of the Lead Securitization Servicing Agreement), and delivering to the
Non-Controlling Note Holder a Rating Agency Confirmation with respect to any rated securities issued and outstanding under
the related Securitization, if applicable. 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,

 

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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 solely with respect to the Mortgage Loan pursuant to and in accordance with the
terms of the Lead Securitization Servicing Agreement. The Note Holders acknowledge and agree that any successor special servicer
appointed to replace the Special Servicer with respect to the Mortgage Loan that was terminated for cause at 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 such Non-Controlling Note Holder. If the Non-Controlling Note Holder directs 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,
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 under the Lead
Securitization Servicing Agreement.

 

Section 8.          Payment
Procedure.

 

(a)       The
Lead Securitization Note Holder, in accordance with the priorities set forth in Section 3 and subject to the terms of the
Lead Securitization Servicing Agreement, shall deposit or cause to be deposited all payments allocable to the Notes to the Collection
Account and/or Companion Distribution 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 Business Days after receipt by it 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; provided, however, that to the extent any such
amounts are received after 2:00 p.m. Eastern time on any given Business Day, the Master Servicer shall use commercially reasonable
efforts to deposit such amounts into the applicable account within one (1) Business Day of receipt of properly identified and available
funds but, in any event, the Master Servicer shall deposit such amounts into the applicable account within two (2) Business Days
of receipt of properly identified and available funds.

 

(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

 

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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 such Non-Lead Securitization Note Holder, such 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. The Non-Lead Securitization Note Holders’ obligations
under this Section 8 constitute absolute, unconditional and continuing obligations.

 

Section
9.          Limitation on Liability of the Note Holders.  
Each Note Holder shall have no liability to the other Note Holders with respect to its Note except with respect to losses
actually suffered due to the negligence, willful misconduct or breach of this Agreement on the part of such Note Holder;
provided that, notwithstanding any of the foregoing to the contrary, each Servicer will nevertheless be subject to the
obligations and standards (including the Servicing Standard) set forth in the related Securitization Servicing Agreement.

 

The Note Holders acknowledge
that, subject to the obligation of the Lead Securitization Note Holder (including any Servicer and the Trustee) to comply with,
and except as otherwise required by, the Servicing Standard, the Lead Securitization Note Holder (including any Servicer and the
Trustee) may exercise, or omit to exercise, any rights that the Lead Securitization Note Holder may have under the Lead Securitization
Servicing Agreement in a manner that may be adverse to the interests of 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 such 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(c), each Note
Holder hereby covenants and agrees that only the Lead Securitization Note Holder has the right to institute, file, commence,
acquiesce, petition under Bankruptcy Code Section 303 or otherwise or join any Person in any such petition or otherwise
invoke or cause any other Person to invoke an

 

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Insolvency Proceeding with respect to or against the Mortgage Loan Borrower or seek
to appoint a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official with respect to the Mortgage
Loan Borrower or all or any part of its property or assets or ordering the winding-up or liquidation of the affairs of the Mortgage
Loan Borrower. Each Note Holder further agrees that only the Lead Securitization Note Holder, and not the Non-Lead Securitization
Note Holder, can make any election, give any consent, commence any action or file any motion, claim, obligation, notice or application
or take any other action in any case by or against the Mortgage Loan Borrower under the Bankruptcy Code or in any other Insolvency
Proceeding. The Note Holders hereby appoint the Lead Securitization Note Holder as their agent, and grant to the Lead Securitization
Note Holder an irrevocable power of attorney coupled with an interest, and their proxy, for the purpose of exercising any and all
rights and taking any and all actions available to the Non-Lead 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 Non-Lead Securitization Note Holder hereby agrees that, upon the request of the Lead Securitization Note Holder,
such Non-Lead Securitization Note Holder shall execute, acknowledge and deliver to the Lead Securitization Note Holder all and
every such further deeds, conveyances and instruments as the Lead Securitization Note Holder may reasonably request for the better
assuring and evidencing of the foregoing appointment and grant. All actions taken by any 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 existing, in good standing and in possession of all licenses and authorizations necessary to carry on its
business. Each Note Holder represents and warrants that (a) this Agreement has been duly executed and delivered by such Note
Holder, (b) to such Note Holder’s actual knowledge, all consents, approvals, authorizations, orders or filings of or
with any court or governmental agency or body, if any, required for the execution, delivery and performance of this Agreement
by such Note Holder have been obtained or made and (c) to such Note Holder’s actual knowledge, there is no pending
action, suit or proceeding, arbitration or governmental investigation against such Note Holder, an adverse outcome of which
would materially and adversely affect its performance under this Agreement.

 

Section
12.          No Creation of a Partnership or Exclusive Purchase
Right. Nothing contained in this Agreement, and no action taken pursuant hereto shall be deemed to

 

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constitute the relationship created hereby between the Note
Holders as a partnership, association, joint venture or other entity. The Lead Securitization Note Holder shall have no obligation
whatsoever to offer to the Non-Lead Securitization Note Holder the opportunity to purchase a participation interest in any future
loans originated by the Lead Securitization Note Holder or its Affiliates and if the Lead Securitization Note Holder chooses to
offer to the Non-Lead Securitization Note Holder the opportunity to purchase a participation interest in any future mortgage loans
originated by the Lead Securitization Note Holder or its Affiliates, such offer shall be at such purchase price and interest rate
as the Lead Securitization Note Holder chooses, in its sole and absolute discretion. The Non-Lead Securitization Note Holder shall
have no obligation whatsoever to purchase from the Lead Securitization Note Holder a participation interest in any future loans
originated by the Lead Securitization Note Holder or its Affiliates.

 

Section
13.          Other Business Activities of the Note Holders. Each
Note Holder acknowledges that the other Note Holders or their Affiliates may make loans or otherwise extend credit to, and
generally engage in any kind of business with, the Mortgage Loan Borrower or any Affiliate thereof, any entity that is a
holder of debt secured by direct or indirect ownership interests in the Mortgage Loan Borrower or any entity that is a holder
of a preferred equity interest in the Mortgage Loan Borrower (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.

 

Section 14.          Sale
of the Notes.

 

(a)       Except
as contemplated by the second following sentence, 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, each 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 15. If a Note Holder intends to Transfer its respective Note, or any portion
thereof, to an entity that is not a Qualified Institutional Lender, it must first (a) obtain the consent of each non-transferring
Note Holder and (b) if such non-transferring Note Holder’s Note is held in a Securitization Trust, obtain a Rating Agency
Confirmation from each Rating Agency then rating the securities of such Securitization Trust. Notwithstanding the foregoing, without
each 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, until a Rating Agency Confirmation is obtained, 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 each non-transferring Note Holder (including all expenses
of the Master Servicer, the Special Servicer, the Trustee and any Controlling Note Holder or Controlling Note Holder Representative)
and all expenses relating to any Rating Agency Confirmation in connection with any such Transfer. Notwithstanding the foregoing,
each Note Holder shall have the right, without the need to

 

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obtain the consent of the other Note Holders 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. None of the provisions of this Section 14(a) shall apply in the case of (1) a sale of all of the Notes together, 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 Loan to a single member limited liability or limited partnership, 100% of
the equity interest in which is owned directly or indirectly, through one or more single member limited liability companies or
limited partnerships, by the Lead Securitization Trust.

 

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

 

(c)       Notwithstanding
any other provision hereof, each 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 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 14(c), it being further agreed that a financing provided by a Note Pledgee to a Note Holder or any person which
Controls such Note that is secured by its Note and is structured as a repurchase arrangement, shall qualify as a “Pledge”
hereunder, provided that a Note Pledgee that is not a Qualified Institutional Lender may not take title to the pledged Note without
a Rating Agency Confirmation. Upon written notice by the applicable Note Holder to any other Note Holder and any Servicer that
a Pledge has been effected (including the name and address of the applicable Note Pledgee), each other Note Holder agrees to acknowledge
receipt of such notice and thereafter agrees: (i) to give Note Pledgee written notice of any default by the pledging Note Holder
in respect of its obligations under this Agreement of which default such Note Holder has actual knowledge; (ii) to allow such Note
Pledgee a period of ten (10) days to cure a default by the pledging Note Holder in respect of its obligations to any other Note
Holder hereunder, but such Note Pledgee shall not be obligated to cure any such default; (iii) that no amendment, modification,
waiver or termination of this Agreement shall be effective against such Note Pledgee without the written consent of such Note Pledgee,
which consent shall not be unreasonably withheld, conditioned or delayed; (iv) that such other Note Holder shall give to such Note
Pledgee copies of any notice of default under this Agreement simultaneously with the giving of same to the pledging Note Holder;
(v) that such other Note Holder shall deliver to Note Pledgee such 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 Holders and any

 

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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 such other Note Holders or Servicer would otherwise be obligated
to pay to the pledging Note Holder from time to time pursuant to this Agreement or the Lead Securitization Servicing Agreement.
Any pledging Note Holder hereby unconditionally and absolutely releases the other Note Holders and 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 Servicer or such other Note Holder to have been delivered by a Note Pledgee. A Note Pledgee shall be permitted
to exercise fully its rights and remedies against the pledging Note Holder to such Note Pledgee (and accept an assignment in lieu
of foreclosure as to such collateral), in accordance with applicable law and this Agreement. In such event, the Note Holders and
any Servicer shall recognize such Note Pledgee (and any transferee other than the Mortgage Loan Borrower or any Affiliate thereof
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
14(c) shall remain effective as to each 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

 

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Conduit, and the Conduit will assign the pledge of such Note Holder’s Note
to the Conduit Credit Enhancer; and

 

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

 

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

 

In connection with any
Transfer of a Note (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 14, from and after the date of such assignment. No transfer
of a Note may be made unless it is registered on the Note Register, and the Agent shall not recognize any attempted or purported
transfer of any Note in violation of the provisions of Section 14 and this Section 15. Any such 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 Holders against any liability that may result
if the transfer is not made in accordance with the provisions of this Agreement.

 

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

 

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ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS
AGREEMENT.

 

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

 

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

 

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

 

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

 

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

 

Section
18.          Modifications. This Agreement shall not be modified,
cancelled or terminated except by an instrument in writing signed by each Note Holder. Additionally, for as long as any Note
is contained in a Securitization Trust, the Note Holders shall not amend or modify this Agreement without first obtaining a
Rating Agency Confirmation from each Rating Agency then rating any securities of any Securitization; provided that no
such Rating Agency Confirmation 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 consistent with the provisions of this Agreement.

 

Section
19.          Successors and Assigns; Third Party Beneficiaries. This
Agreement shall inure to the benefit of and be binding upon the parties hereto and their respective successors and assigns.
Except as provided herein, including without limitation, with respect to the Trustee, Certificate Administrator, Master
Servicer and Special Servicer and the

 

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Non-Lead Master Servicer, Non-Lead Special Servicer or Non-Lead Trustee, none of the provisions of this Agreement shall
be for the benefit of or enforceable by any Person not a party hereto. Subject to Section 14 and Section 15, each
Note Holder may assign or delegate its rights or obligations under this Agreement. Upon any such assignment, the assignee shall
be entitled to all rights and benefits of the applicable Note Holder hereunder.

 

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

 

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

 

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

 

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

 

Section
24.          Withholding Taxes.
(a)    If the Lead Securitization Note Holder or the Mortgage Loan Borrower 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)       The
Non-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 the Non-Lead
Securitization Note Holder in reliance upon any representation, certificate, statement, document or instrument made or provided
by

 

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the Non-Lead Securitization 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 the Non-Lead Securitization 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, 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) the Non-Lead Securitization 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)       The
Non-Lead Securitization Note Holder represents to the Lead Securitization Note Holder (for the benefit of the Mortgage Loan Borrower)
that it is not a Non-Exempt Person and that neither the Lead Securitization Note Holder nor the Mortgage Loan Borrower is obligated
under applicable law to withhold Taxes on sums paid to it with respect to the Mortgage Loan or otherwise pursuant to this Agreement.
Contemporaneously with the execution of this Agreement and from time to time as necessary during the term of this Agreement, the
Non-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 the Non-Lead Securitization 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
the Non-Lead Securitization 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
25.          Custody of Mortgage Loan Documents. Prior to the Lead
Securitization, the originals of all of the Mortgage Loan Documents (other than Note A-2) shall be held by the Initial Agent
on behalf of the registered holders of the Notes. On and after the closing of the Lead Securitization, the originals of all
of the Mortgage Loan Documents (other than Note A-2) shall be held in the name of the Note A-1 Trustee (and held by a duly
appointed custodian therefor), in accordance with the terms of the Lead Securitization Servicing Agreement, on behalf of the
registered holders of the Notes. On and after the Note A-2

 

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Securitization Date, Note A-2 shall be held in the name of the
Note A-2 Trustee (and held by a duly appointed custodian therefor) under the Note A-2 PSA, on behalf of the Note A-2
Holder.

 

Section
26.          Cooperation in Securitization. Each Note Holder
acknowledges that each 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 related Securitizing Note
Holder, each Non-Securitizing Note Holder shall use reasonable efforts, at such Securitizing Note Holder’s expense, to
satisfy, and to cooperate with such Securitizing Note Holder in attempting to cause the Mortgage Loan Borrower to satisfy,
the market standards to which such Securitizing Note Holder customarily adheres or that may be reasonably required in the
marketplace or by the Rating Agencies in connection with such Securitization, including, entering into (or consenting to, as
applicable) any modifications to this Agreement or the Mortgage Loan Documents and to cooperate with such Securitizing 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 such Securitization; provided, that each
Non-Securitizing 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, such Non-Securitizing Note
Holder or (ii) materially increase such Non-Securitizing Note Holder’s obligations or materially decrease such
Non-Securitizing Note Holder’s rights, remedies or protections. In connection with any Securitization, each
Non-Securitizing Note Holder shall provide for inclusion in any disclosure document relating to such Securitization such
information concerning such Non-Securitizing Note Holder and its Note as the related Securitizing Note Holder reasonably
determines to be necessary or appropriate, and such Non-Securitizing Note Holder shall, at such Securitizing Note
Holder’s expense, cooperate with the reasonable requests of each Rating Agency and such Securitizing Note Holder
in connection with such Securitization (including, without limitation, reasonably cooperating with such Securitizing Note
Holder (without any obligation to make additional representations and warranties) to enable such Securitizing Note Holder to
make all necessary certifications and deliver all necessary opinions (including customary securities law opinions) in
connection with the Mortgage Loan and such 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 such Note Holder and its Note in any Securitization document. Each Note Holder acknowledges that in connection
with any Securitization, the information provided by it in its capacity as the Non-Securitizing Note Holder to the related
Securitizing Note Holder may be incorporated into the offering documents for such Securitization. Each Securitizing Note
Holder and each Rating Agency shall be entitled to rely on the information supplied by, or on behalf of, each
Non-Securitizing Note Holder.

 

Upon request, each Securitizing
Note Holder shall deliver to each Non-Securitizing Note Holder drafts of the preliminary and final offering memoranda, prospectus
supplement, free writing prospectus and any other disclosure documents and the pooling and servicing agreement for the Securitization
of such Securitizing Note Holder’s Note and provide reasonable opportunity to review and comment on such documents.

 

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Section
27.          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 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.

 

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

 

Section 29.          Certain
Matters Affecting the Agent.

 

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

 

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

 

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

 

(d)       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 15;

 

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

 

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

 

Section 30.          Reserved.

 

Section
31.          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

 

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Securitization is satisfactory to the Note Holders),
has agreed to be bound by this Agreement and perform the duties of the Agent hereunder. Barclays, as Initial Agent, may transfer
its rights and obligations to a Servicer, the Trustee or the Certificate Administrator, as successor Agent, at any time without
the consent of the other Note Holder. Notwithstanding the foregoing, Note Holders hereby agree that, simultaneously with the closing
of the Lead Securitization, the Master Servicer shall be deemed to have been automatically appointed as the successor Agent under
this Agreement in place of Barclays 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
32.          Resizing. Notwithstanding any other provision of this
Agreement, for so long as Barclays or an affiliate (an “Original Entity”) is the owner of the Non-Lead
Securitization Note (the “Owned Note”), such Original 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 balance 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 and such reallocated or component notes shall be
automatically subject to the terms of this Agreement, (iv) the Original 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 the Servicing Standard. If the Lead Securitization Note Holder so requests, the Original 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. Except for the foregoing reallocation and for modifications pursuant to the Lead
Securitization Servicing Agreement (as discussed in Section 5), no Note may be modified or amended without the consent
of its holder and the consent of the holder of each other Note. 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 Original 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. If more than one New Note is created hereunder, for purposes
of exercising the rights of the Non-Controlling Note Holder hereunder, the “Non-Controlling Note Holder” of such
New Notes shall be as provided in the definition of such term in this Agreement.

 

[Signature Page Follows]

 

    -47-

    

    

 

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

 

	 	BARCLAYS CAPITAL REAL ESTATE INC., as Initial Agent and Initial Note A-1 Holder and Initial Note A-2 Holder
	 	 	 	 
	 	By:	/s/ Daniel Schmidt
	 	 	Name:	Daniel Schmidt
	 	 	Title:	Authorized Signatory

 

[Signature Page
to Inland Devon Self Storage Portfolio Agreement Between Note Holders]

 

    

    

    

EXHIBIT A

MORTGAGE LOAN SCHEDULE

 

Description of Mortgage Loan

 

	Mortgage Loan Borrower:	Four State Storage DST
	Date of Mortgage Loan:	March 29, 2019
	Date of Notes:	March 29, 2019
	Original Principal Amount of Mortgage Loan:	$71,000,000.00
	Principal Amount of Mortgage Loan as of the date hereof:	$71,000,000.00
	Initial Note A-1 Principal Balance:	$41,000,000.00
	Initial Note A-2 Principal Balance:	$30,000,000.00
	Location of Mortgaged Property:	
        67650 East Ramon Road, Cathedral City CA 92234 

        2700 Poplar Avenue, Memphis TN 38112 

        1400 South Gene Autry Trail, Palm Springs CA 92264 

        3686 Old Germantown Road, Memphis TN 38125 

        500 Radio Road, Palm Springs CA 92262 

        9275 Macon Road, Memphis TN 38016 

        72500 Varner Road, Thousand Palms CA 92276 

        22075 Highway 18, Apple Valley CA 92307 

        3040 Austin Peay Highway, Memphis TN 38128 

        18690 Highway 18, Apple Valley CA 92307 

        1700 US Highway 75, Sherman TX 75090 

        1720 Loy Lake Road, Sherman TX 75090 

        6140 East Shelby Drive, Memphis TN 38141 

        6017 Interstate 30, Greenville TX 75402 

        7777 Moriarty Road, Memphis TN 38018 

        8123 Wesley Street, Greenville TX 75402 

        2922 South 5th Court, Milwaukee WI 53207 

        3577 New Getwell Road, Memphis TN 38016 

        5141 American Way, Memphis TN 38115  

 

    

    

    

 

		
        6390 Winchester Road, Memphis TN 38115 

        4705 Winchester Road, Memphis TN 38118 

	Initial Maturity Date:	April 6, 2029

 

    

    

    

 

EXHIBIT B

 

1.    Initial
Note A-1 Holder:

 

Barclays Capital Real Estate Inc.

745 Seventh Avenue

New York, New York 10019

Attention: Sabrina J. Khabie

 

2.     Initial
Note A-2 Holder:

 

Barclays Capital Real Estate Inc.

745 Seventh Avenue

New York, New York 10019

Attention: Sabrina J. Khabie

 

    

    

    

 

EXHIBIT C

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 Capital, LLC

		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 Partners, LLC

		33.	Rockwood

		34.	RREEF Funds

		35.	Square Mile Capital Management

		36.	The Blackstone Group

		37.	The Carlyle Group

		38.	Torchlight Investors

		39.	Walton Street Capital, L.L.C.

		40.	Westbrook Partners

		41.	Wheelock Street Capital

		42.	Whitehall Street Real Estate Fund, L.P.

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